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Hancock County Savings Bank Review

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

Overview

Founded in 1899, Hancock County Savings Bank has assets totaling $360 million as well as deposits totaling $275 million, classifying it as a small bank. Hancock County Savings Bank, whose headquarters are in Chester, West Virginia, lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. Overall, Hancock County Savings Bank is a respectable bank that deserves your consideration, with a score of 3.9 stars out of 5 from our team. Hancock County Savings Bank offers a complete choice of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Hancock County Savings Bank's standard checking account does not have a monthly maintenance fee. Institutions that offer no-fee checking as well as a high savings APY are your best option for gaining the highest income from your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

Hancock County Savings Bank features a savings rate of 0.05%, which is poor compared to the average U.S. bank. Its one-year CD has a rate of 0.50% and the five-year CD earns at a rate of 2.00%, while its highest-yielding money market account earns at a rate of 0.05%. Given Hancock County Savings Bank's noncompetitive savings rate, you should think about looking elsewhere to open savings accounts.

How Hancock County Savings Bank's Savings Rates Compare

Hancock County Savings Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Hancock County Savings Bank generally has extremely low fees in comparison to other U.S. banks. Hancock County Savings Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a hassle-free account. Hancock County Savings Bank unfortunately does not reimburse out-of-network ATM charges, meaning you will have to search for a Hancock County Savings Bank ATM or pay 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

2.8
SmartAsset Average: 3.7

Hancock County Savings Bank is a brick-and-mortar bank, with three total bank locations in West Virginia. It also offers access to mobile and web apps for simple access and banking on the go. It does not offer all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday, 8:30 a.m. to 4:00 p.m. CT; Saturday, and 8:30 a.m. to 12:00 p.m. CT. Hancock County Savings Bank's online and mobile banking services receive poor scores from users. Out of 15 customer reviews on iOS and Android platforms, the Hancock County Savings Bank mobile app rates a 1.9 out of 5 (compared to the national average of 3.8). You can access Hancock County Savings Bank's app to manage your accounts by checking monthly statements, sending and receiving money and reaching support representatives. Hancock County Savings Bank receives an excellent consumer satisfaction score due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 1.9/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

Hancock County Savings Bank ranks as a small bank with assets totaling $360 million as well as $275 million in deposits. Hancock County Savings Bank has an excellent Texas Ratio of 3.39%, indicating a negligible chance of failure. Additionally, Hancock County Savings Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.39%
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 Hancock County Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.70% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.50% APY
  • 60 Month: 2.00% APY
$500 for all terms
Money Market Accounts 0.05% APY 0.05% APY $10000 $15000

Hancock County Savings 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. Hancock County Savings 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. Hancock County Savings Bank's CD rates are fair compared to the average U.S. bank.

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Find a Hancock County Savings Bank Near Me

Hancock County Savings Bank has three physical branches across the U.S.

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