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Fidelity Bank & Trust Review

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

Overview

Fidelity Bank & Trust started in 1910 with headquarters in Dubuque, Iowa. Fidelity Bank & Trust manages assets of $824 million along with $680 million in deposits, making it a medium-size bank. Fidelity Bank & Trust 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 offerings. On the whole, Fidelity Bank & Trust is a great bank that you should seriously consider, with a rating of 4.3 stars out of 5 from the SmartAsset experts. Fidelity Bank & Trust has a complete choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Fidelity Bank & Trust has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Fidelity Bank & Trust offers an option without a monthly fee. Obtaining a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is the best option for getting the most income on your deposits while having convenient 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

3.1
SmartAsset Average: 3.5

With a savings rate of 0.05%, Fidelity Bank & Trust ranks poorly in comparison to the national average. Fidelity Bank & Trust's one-year CD has a rate of 0.65% and the five-year CD earns at a rate of 1.66%, while its highest-yielding money market account earns at a rate of 0.05%. Given Fidelity Bank & Trust's poor savings rate, you should think about taking a look at other banks for savings accounts.

How Fidelity Bank & Trust's Savings Rates Compare

Fidelity Bank & Trust Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Fidelity Bank & Trust charges its customers extremely low fees in comparison to other U.S. banks. With no monthly fee, Fidelity Bank & Trust's checking account is perfect for people who need an easy checking account. Fidelity Bank & Trust does not reimburse out-of-network ATM charges, which means you'll have to find a Fidelity Bank & Trust ATM or eat the ATM charge.

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

4.2
SmartAsset Average: 3.7

Fidelity Bank & Trust is a brick-and-mortar bank, with 20 total branches in Illinois, Iowa and Wisconsin. It also offers access to mobile and web apps for easy access and banking on the go. Fidelity Bank & Trust's online and mobile banking platforms get fairly decent feedback from users. Out of 75 customer reviews across both Apple and Android platforms, the Fidelity Bank & Trust mobile app is scored at 4.4 out of 5 (compared to the national average of 3.8). Fidelity Bank & Trust's mobile app lets you control your funds by checking monthly statements, sending and receiving funds and reaching customer service. Fidelity Bank & Trust gets an exceptional consumer satisfaction score based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.4/5
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 & Trust ranks as a medium-size bank owning assets totaling $824 million as well as $680 million in deposits. Fidelity Bank & Trust's Texas Ratio is 1.88%, signifying a negligible probability of failure. Additionally, Fidelity Bank & Trust 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 & Trust 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 $1
Certificates of Deposit
  • 12 Month: 0.65% APY
  • 24 Month: 0.85% APY
  • 36 Month: 1.05% APY
  • 48 Month: 3.07% APY
  • 60 Month: 1.66% APY
$500 for all terms
Money Market Account 0.05% APY $1

Fidelity Bank & Trust has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Fidelity Bank & Trust does not have the best savings rate, which means you should think about 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. Fidelity Bank & Trust's CD rates are fair compared to the national average.

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Find a Fidelity Bank & Trust Near Me

Fidelity Bank & Trust has 20 branches across the U.S.

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