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American Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
American Bank Savings
0.40% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1997, American Bank has assets totaling $580 million and deposits totaling $426 million, ranking it as a medium-size bank. American Bank, whose headquarters are in Allentown, Pennsylvania, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a commendable 4.2 out of 5 stars, American Bank proves it is a solid contender in your bank search. American Bank has the complete selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. American Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, American Bank offers an option without a maintenance or monthly fee. Locating an institution with no-fee checking as well as a high savings APY is your best option for returning the most income from your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.4
SmartAsset Average: 3.5

American Bank features a savings rate of 0.40%, which is poor compared to the average U.S. bank. Its one-year CD has a rate of 1.40% and the five-year CD earns at a rate of 2.35%, while its highest-yielding money market account earns at a rate of 0.40%. Given its noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.

How American Bank's Savings Rates Compare

American Bank Savings 0.40 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

American Bank charges its customers extremely low fees as compared against the national average. With no monthly fee, American Bank's checking account is perfect for those who need a hassle-free checking account. American Bank doesn't reimburse out-of-network ATM charges, which means you'll need to search for an American Bank ATM or accept the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

3.4
SmartAsset Average: 3.7

American Bank is a brick-and-mortar bank, with one total branches in Pennsylvania. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not have all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 6:00 p.m. ET; Saturday, and 9:00 a.m. to 12:00 p.m. ET. American Bank receives poor reviews from users for its mobile platform. With 24 customer reviews on both iOS and Android platforms, the American Bank mobile app is scored at 3.0 out of 5 (compared to the national average of 3.8). You can access American Bank's mobile app to manage your funds by looking at current statements, transferring funds and accessing customer service. American Bank gets an exceptional consumer satisfaction score due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

American Bank is currently a medium-size bank and handles assets totaling $580 million and deposits totaling $426 million. It has an excellent Texas Ratio of 0.00%, signifying a negligible chance of failure. Additionally, American Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare American Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.4% APY $1
Checking Account 0.4% APY $1000
Certificates of Deposit
  • 12 Month: 1.40% APY
  • 24 Month: 1.50% APY
  • 36 Month: 1.80% APY
  • 48 Month: 1.70% APY
  • 60 Month: 2.35% APY
$500 for all terms
Money Market Accounts 0.2% APY 0.4% APY $10000 $15000

American Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. American Bank does not have the best savings rate, which means you should think about taking a look elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. American Bank's CD rates are fair in comparison to the national average.

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Find a American Bank Near Me

American Bank has one physical locations across the U.S.

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