Dollar Bank Review

Overview

Established in 1984, Dollar Bank has assets totaling $11.62 billion and $9.13 billion in deposits, classifying it as a large bank. Dollar Bank, whose headquarters are in Pittsburgh, Pennsylvania, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a commendable 4.3 stars out of 5, Dollar Bank proves it is a solid pick to be your bank. Dollar Bank has a choice of banking products, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. Dollar Bank has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Dollar Bank's most basic checking account does not have a monthly fee. Institutions that offer no-fee checking and a high savings APY are the best bet for gaining the most income on your deposits alongside easy access to your money.

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

Dollar Bank features a savings rate of 0.10%, which is fair in comparison to the average U.S. bank. Dollar Bank's one-year CD has a rate of 2.25% and the five-year CD earns at a rate of 3.00%. Given its noncompetitive savings rate, you should consider other options to earn more on your deposits.

How Dollar Bank's Savings Rates Compare

Dollar Bank generally has extremely low fees compared to other U.S. banks. Dollar Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a hassle-free account. For those who will need cash in a pinch, it is ideal because it charges no out-of-network ATM fees. Dollar Bank unfortunately does not reimburse out-of-network ATM fees, meaning you'll be required to find a Dollar Bank ATM or pay the fee.

Dollar Bank is a brick-and-mortar bank, with 73 total bank locations in Ohio, Pennsylvania and Virginia. It also offers access to mobile and web apps for straightforward access and banking on the go. It does not offer all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 8:00 p.m. ET; Saturday, and 9:00 a.m. to 3:00 p.m. ET. Dollar Bank's online and mobile banking services get mediocre scores from customers. The Dollar Bank mobile app scored a 2.7 out of 5 (with 1,500 ratings on iOS and Android) compared to the national average of 3.8. Dollar Bank's mobile app allows you to control your finances by looking at current statements, transferring money as well as reaching customer service. Dollar Bank gets an outstanding consumer satisfaction score based on comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Dollar Bank is a large bank with $11.62 billion in assets and deposits totaling $9.13 billion. Its Texas Ratio is 4.16%, suggesting a low likelihood of failure. Additionally, Dollar 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.

Products Offered

Dollar Bank has several deposit products including savings accounts, checking accounts and CDs to give you many options to manage your money. Dollar Bank does not have the best savings rate, which means you should consider looking 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. Dollar Bank's CD rates are fair in comparison to the national average.

Find a Dollar Bank Near Me

Dollar Bank has 73 physical branches across the U.S.