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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 was founded in 1910 and its headquarters are located in Dubuque, Iowa. Fidelity Bank & Trust has $824 million in assets and $680 million in deposits, which makes it a medium-size bank. Fidelity Bank & Trust 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 in-person service, in addition to its online and mobile apps. On the whole, Fidelity Bank & Trust is a great bank that you should seriously consider, with a rating of 4.3 out of 5 stars from our team. Fidelity Bank & Trust offers a variety of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Fidelity Bank & Trust has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Fidelity Bank & Trust's most basic checking account does not have a monthly charge. Using a bank with no-fee checking, in addition to a high interest rate savings account is the best bet for returning the most income on your deposits alongside convenient access to your money.

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

Fidelity Bank & Trust features a savings rate of 0.05%, which is poor in comparison to the national average. Its one-year CD has a rate of 0.65% and the five-year CD has a rate of 1.66%, while its highest-yielding money market account earns at a rate of 0.05%. Given its noncompetitive savings rate, you should think about looking at the competition to open 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 generally has extremely low fees in comparison to the national average. With no monthly fee, Fidelity Bank & Trust's checking account is ideal for those who want a hassle-free banking experience. Fidelity Bank & Trust does not refund out-of-network ATM fees, which means you'll need to locate a Fidelity Bank & Trust ATM or accept 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 bank locations in Illinois, Iowa and Wisconsin. It also offers access to mobile and web apps for a simple mobile-banking experience. Fidelity Bank & Trust's online and mobile banking services receive moderately good scores from users. The Fidelity Bank & Trust mobile app is rated at 4.4 out of 5 (with 75 reviews on Apple and Android) compared to the national average of 3.8. Fidelity Bank & Trust's mobile app lets you manage your accounts by monitoring monthly statements, transferring money and reaching support representatives. Fidelity Bank & Trust gets an outstanding consumer satisfaction score based on comparatively 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 is a medium-size bank owning $824 million in assets and deposits totaling $680 million. Fidelity Bank & Trust's Texas Ratio is 1.88%, signifying that Fidelity Bank & Trust is in excellent financial well-being and improbable to fail. 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 like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Fidelity Bank & Trust does not have the best savings rate, which means you should consider 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 & Trust's CD rates are fair as compared against the national average.

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Find a Fidelity Bank & Trust Near Me

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

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