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Fidelity Bank Review

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Fidelity Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Fidelity Bank started in 1974 with headquarters in Atlanta, Georgia. It manages $5 billion in assets and $4 billion in deposits, classifying it as a large bank. Fidelity Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Overall, Fidelity Bank is a great choice and should warrant serious consideration, with a rating of 4.2 out of 5 stars from the SmartAsset team. Fidelity Bank provides customers with a complete suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Fidelity Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Fidelity Bank's standard checking account does not have a monthly fee. Finding a checking account with no monthly fee, in addition to a savings account with a high APY at the same institution is your best option for gaining the most income on your deposits while having convenient access to your money.

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

3.1
SmartAsset Average: 3.5

Fidelity Bank features a savings rate of 0.15%, which is fair in comparison to other U.S. banks. Its one-year CD has a rate of 0.50% and the five-year CD earns at a rate of 1.10%, while its highest-yielding money market account has an APY of 0.20%. Given Fidelity Bank's below average savings rate, you should consider taking a look at other banks for savings accounts.

How Fidelity Bank's Savings Rates Compare

Fidelity Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Fidelity Bank typically has extremely low fees in comparison to the national average. With no monthly fee, Fidelity Bank is ideal for people who want a simple banking experience. Fidelity Bank unfortunately does not reimburse out-of-network ATM fees, meaning you'll be required to locate a Fidelity 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

4.0
SmartAsset Average: 3.7

Fidelity Bank is a brick-and-mortar bank, with 69 total branches in Florida and Georgia. With mobile and web apps, Fidelity Bank makes account access convenient, even on the go. It does not provide access to 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 7:00 p.m. ET; Saturday, 9:00 a.m. to 5:00 p.m. ET; Sunday, and 10:00 a.m. to 5:00 p.m. ET. Fidelity Bank's online and mobile banking services receive reasonably high praise from users. Out of 810 ratings on Apple and Android platforms, the Fidelity Bank mobile app has an overall rating of 4.1 out of 5 (compared to the national average of 3.8). You can use Fidelity Bank's app to control your finances by reviewing current statements, transferring funds as well as accessing support representatives. Fidelity Bank gets a superb consumer satisfaction rating due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.6
SmartAsset Average: 4.8

Fidelity Bank is currently a large bank and handles $5 billion in assets and deposits totaling $4 billion. Fidelity Bank's Texas Ratio is 8.68%, signifying that Fidelity Bank is in fine financial condition and unlikely to fail. Additionally, Fidelity Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

8.68%
High Risk 75% 50% 20% 10% Low Risk

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 Fidelity Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.15% APY $2500
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.70% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.05% APY
  • 60 Month: 1.10% APY
$500 for all terms
Money Market Accounts 0.15% APY 0.2% APY $10000 $15000

Fidelity Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Fidelity 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. Fidelity Bank's CD rates are fair compared to other U.S. banks.

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Find a Fidelity Bank Near Me

Fidelity Bank has 69 physical branches in the U.S.

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