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Peoples Exchange Bank Review

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Peoples Exchange Bank Savings
0.01% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Peoples Exchange Bank was founded in 1912 and its headquarters are located in Winchester, Kentucky. Peoples Exchange Bank has $379 million in assets along with deposits totaling $304 million, ranking it as a small bank. Peoples Exchange Bank 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 access to service representatives at a physical location, in addition to its online and mobile offerings. We ranked the bank at a 4 stars out of 5, indicating that Peoples Exchange Bank is a good bank that you should consider. Peoples Exchange Bank has the complete selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Peoples Exchange Bank has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, the bank's standard checking account does not have a monthly charge. Finding an institution with no-fee checking as well as a high interest rate savings account is the best option for returning the most income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

Peoples Exchange Bank has a savings rate of 0.01%, which is fair compared to the national average. Its one-year CD earns at a rate of 0.50% and the five-year CD has a rate of 1.00%, while its highest-yielding money market account earns at an APY of 0.01%. Given Peoples Exchange Bank's poor savings rate, you should think about choosing another bank to earn more on your deposits.

How Peoples Exchange Bank's Savings Rates Compare

Peoples Exchange Bank Savings 0.01 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Peoples Exchange Bank charges its customers extremely low fees in comparison to the national average. Peoples Exchange Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a hassle-free account. Peoples Exchange Bank doesn't refund out-of-network ATM fees, which means you'll have to search for a Peoples Exchange Bank ATM or eat the 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

SmartAsset Average: 3.7

Peoples Exchange Bank is a brick-and-mortar bank, with 10 total bank locations in Kentucky. With mobile and web apps, Peoples Exchange Bank makes mobile banking easy, even on the go. Peoples Exchange Bank's online and mobile banking services get mediocre feedback from customers. The Peoples Exchange Bank mobile app has been given a 2.2 out of 5 (out of 9 customer reviews on Apple and Android) compared to the national average of 3.8. Peoples Exchange Bank's mobile app lets you control your bank accounts by monitoring current statements, sending and receiving funds and reaching customer service. Peoples Exchange Bank receives a superb consumer satisfaction score due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 2.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Peoples Exchange Bank is currently a small bank and owns assets totaling $379 million as well as $304 million in deposits. Peoples Exchange Bank has an excellent Texas Ratio of 2.91%, indicating a negligible possibility of failure. Additionally, Peoples Exchange 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 Peoples Exchange Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.01% APY $100
Checking Account 0.01% APY $1
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.75% APY
  • 48 Month: 0.85% APY
  • 60 Month: 1.00% APY
$1000 for all terms
Money Market Account 0.01% APY $10000

Peoples Exchange Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Peoples Exchange 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. Peoples Exchange Bank's CD rates are fair as compared against the national average.

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Find a Peoples Exchange Bank Near Me

Peoples Exchange Bank has 10 physical branches across the U.S.

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