Loading
Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

Dollar Bank Review

Your Details Done
by Updated
Dollar Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1984, Dollar Bank has assets totaling $8 billion as well as deposits totaling $7 billion, classifying it as a large bank. Dollar Bank, whose headquarters are in Pittsburgh, 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 access to service representatives at a physical location, in addition to its online and mobile apps. At a SmartAsset rating of 4.3 stars out of 5, Dollar Bank should be solidly in contention for your choice of bank. Dollar Bank offers an array banking products, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Dollar Bank offers an option without a maintenance or monthly fee. Finding a checking account with no monthly fee and a savings account with a high interest rate at the same institution is your best option for getting the most income from your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

3.9
SmartAsset Average: 3.5

Dollar Bank has a savings rate of 0.10%, which is poor as compared against the national average. Its one-year and five-year term lengths CDs earn at a rate of 1.75% and 2.65%, respectively. Given its poor savings rate, you should think about taking a look at other banks for savings accounts.

How Dollar Bank's Savings Rates Compare

Dollar Bank Savings 0.10 National Average 0.26 Compare Offers
Back to Overview

Fees

5.0
SmartAsset Average: 4.4

Dollar Bank charges customers extremely low fees in comparison to other U.S. banks. With no monthly fee, Dollar Bank's checking account is ideal for people who need a hassle-free banking experience. For those who withdraw cash frequently, it is perfect because it charges no out-of-network ATM fees. Dollar Bank unfortunately does not refund out-of-network ATM charges, which means you will have to locate a Dollar Bank ATM or pay the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
Back to Overview

Service Quality

3.3
SmartAsset Average: 3.7

Dollar Bank is a brick-and-mortar bank, with 73 total branches in Ohio, Pennsylvania and Virginia. With mobile and web apps, Dollar Bank makes account access convenient, even on the go. It does not offer all-day customer service with 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 platforms get poor marks from users. The Dollar Bank mobile app has been given a 2.7 out of 5 (with 1,500 reviews on Apple and Android) compared to the national average of 3.8. You can use Dollar Bank's app to control your finances by reviewing current statements, transferring funds as well as reaching support representatives. Dollar Bank gets an outstanding consumer satisfaction rating due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 2.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

4.9
SmartAsset Average: 4.8

Dollar Bank is a large bank owning $8 billion in assets as well as deposits totaling $7 billion. Dollar Bank's Texas Ratio is 2.06%, indicating a low probability 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.

Back to Overview

Compare Dollar Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.15% APY $50
Certificates of Deposit
  • 12 Month: 1.75% APY
  • 24 Month: 2.25% APY
  • 36 Month: 2.50% APY
  • 48 Month: 2.60% APY
  • 60 Month: 2.65% APY
$2500 for all terms

Dollar Bank has several deposit products including savings accounts, checking accounts and CDs that provide you with many options to manage your money. Dollar Bank does not have the best savings rate, which means you should think about other options 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 as compared against the national average.

Back to Overview

Find a Dollar Bank Near Me

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

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure