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Fidelity Bank Review

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Fidelity Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1956, Fidelity Bank has $2 billion in assets and $2 billion in deposits, which makes the institution a large bank. Fidelity Bank, whose headquarters are in Wichita, Kansas, lacks premium access to customer service, 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 offerings. SmartAsset experts rated the bank 3.6 stars out of 5, suggesting Fidelity Bank is a decent choice, but with better options out there. Fidelity Bank has a full array of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking product has a monthly fee of $6.00, although banks sometimes have requirements that allow you to waive the fee. Banks that offer no-fee checking and a high interest rate savings account are your best option for gaining the most income on your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.6/5
National Average: 4.1

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

Rates

3.8
SmartAsset Average: 3.5

With a savings rate of 0.05%, Fidelity Bank ranks poorly compared to the national average. Fidelity Bank's one-year CD earns at a rate of 1.75% and the five-year CD earns at a rate of 2.75%, while its highest-yielding money market account has a rate of 0.25%. Given its below average savings rate, you should consider looking at the competition to open savings accounts.

How Fidelity Bank's Savings Rates Compare

Fidelity Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

On average, Fidelity Bank charges its customers high fees in comparison to the average U.S. bank. At $6.00 per month, Fidelity Bank is less than the best option for people who want a simple checking account. Fidelity Bank doesn't reimburse out-of-network ATM charges, which means you'll be required to search for a Fidelity Bank ATM or pay the ATM charge.

Monthly Fee $6.00 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

Fidelity Bank is a brick-and-mortar bank, with 21 total bank locations in Kansas and Oklahoma. With mobile and web apps, Fidelity Bank makes mobile banking easy, even on the go. It does not offer all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 7:30 a.m. to 8:00 p.m. CT; Saturday, and 9:00 a.m. to 5:00 p.m. CT. Fidelity Bank's online and mobile banking services get mediocre feedback from customers. The Fidelity Bank mobile app has an overall rating of 2.9 out of 5 (with 150 ratings on iOS and Android) compared to the national average of 3.8. Fidelity Bank's mobile app lets you control your accounts by looking at monthly statements, sending and receiving funds as well as reaching customer service. Fidelity Bank gets an outstanding consumer satisfaction rating due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 2.9/5
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

Fidelity Bank is a large bank owning $2 billion in assets as well as deposits totaling $2 billion. Its Texas Ratio is 1.77%, indicating a minute probability of failure. 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

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 0.05% APY $1
Checking Account 0.05% APY $100
Certificates of Deposit
  • 12 Month: 1.75% APY
  • 24 Month: 2.25% APY
  • 36 Month: 2.50% APY
  • 60 Month: 2.75% APY
$500 for all terms
Money Market Account 0.25% APY $1

Fidelity Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with 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 as compared against the national average.

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Find a Fidelity Bank Near Me

Fidelity Bank has 21 physical branches in the U.S.

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