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

Overview

Established in 1956, Fidelity Bank has $2 billion in assets as well as deposits totaling $2 billion, classifying the institution as a large bank. Fidelity Bank, whose headquarters are in Wichita, Kansas, lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. With an average 3.6 stars out of 5, Fidelity Bank proves it is a bank with better alternatives. Fidelity Bank provides customers with a full suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking product features a $6.00 monthly fee, making it a rather costly bank for checking. Institutions that offer no-fee checking, in addition to a high interest rate savings account are the best bet for returning the highest income on your deposits alongside easy 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

Fidelity Bank features a savings rate of 0.05%, which is poor compared to the national average. Its one-year CD earns at a rate of 2.30% and the five-year CD has a rate of 2.75%, while its highest-yielding money market account earns at a rate of 0.25%. Given its below average savings rate, you should think about other options to earn more on your deposits.

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

Fidelity Bank generally has high fees compared to the average U.S. bank. Fidelity Bank's checking account has a monthly fee of $6.00, which makes it fair for anyone looking for a simple account. Fidelity Bank doesn't refund out-of-network ATM fees, which means you will be required to search for a Fidelity Bank ATM or pay the cost of withdrawal.

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. It also offers access to mobile and web apps for an easy mobile-banking experience. It does not provide access to all-day customer service with actual service 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 platforms receive mediocre feedback from customers. With 150 ratings on Apple and Android platforms, the Fidelity Bank mobile app is scored at 2.9 out of 5 (compared to the national average of 3.8). Fidelity Bank's mobile app allows you to manage your accounts by monitoring monthly statements, sending and receiving money and accessing support representatives. Fidelity Bank gets an outstanding consumer satisfaction rating based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

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 ranks as a large bank owning assets totaling $2 billion as well as $2 billion in deposits. Its Texas Ratio is 1.77%, denoting a negligible 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: 2.30% APY
  • 24 Month: 2.30% APY
  • 36 Month: 2.50% APY
  • 60 Month: 2.75% APY
$500 for all terms
Money Market Accounts 0.25% APY 0.25% APY $10000 $15000

Fidelity Bank has several deposit products like 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 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. 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 21 locations across the U.S.

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