Established in 1934, PeoplesBank has assets totaling $2 billion as well as deposits totaling $1 billion, ranking the institution as a large bank. PeoplesBank, whose headquarters are in York, Pennsylvania, lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. Overall, PeoplesBank is a respectable bank that gets the job done, with a rating of 4.1 stars out of 5 from our team. PeoplesBank provides customers with a complete suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. PeoplesBank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, PeoplesBank's standard checking account does not have a monthly fee. Using an institution with free checking, in addition to a high savings APY is your best bet for accruing the most income from your deposits alongside easy access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
PeoplesBank has a savings rate of 0.10%, which is poor compared to the average U.S. bank. PeoplesBank's one-year CD earns at a rate of 0.50% and the five-year CD earns at a rate of 1.25%, while its highest-yielding money market account has a rate of 0.60%. Given its noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.
How PeoplesBank's Savings Rates Compare
PeoplesBank generally has extremely low fees in comparison to the national average. Its checking account has no monthly fee, ranking it excellent for anyone looking for a hassle-free account. PeoplesBank doesn't reimburse out-of-network ATM fees, which means you will need to locate a PeoplesBank ATM or pay the withdrawal fee.
PeoplesBank is a brick-and-mortar bank, with 36 total bank locations in Pennsylvania. With mobile and web apps, PeoplesBank makes account access straightforward, even on the go. It does not have all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 6:00 p.m. ET; Saturday, and 8:00 a.m. to 12:00 p.m. ET. PeoplesBank receives inferior reviews from users for its mobile platform. The PeoplesBank mobile app has been given a 3.1 out of 5 (with 54 customer reviews on iOS and Android) compared to the national average of 3.8. You can utilize PeoplesBank's app to manage your accounts by looking at account balances, transferring funds as well as reaching support representatives. PeoplesBank receives a superb consumer satisfaction score based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
PeoplesBank ranks as a large bank owning assets totaling $2 billion and deposits totaling $1 billion. PeoplesBank's Texas Ratio is 2.86%, signifying that the bank is in terrific financial condition and far from failure. Additionally, PeoplesBank 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.Back to Overview
Compare PeoplesBank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$25|
|Checking Account||0.01% APY||$1|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Accounts||0.5% APY 0.6% APY||$10000 $15000|
PeoplesBank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. PeoplesBank does not have the best savings rate, which means you should consider 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. PeoplesBank's CD rates are fair as compared against the national average.Back to Overview
Find a PeoplesBank Near Me
PeoplesBank has 36 branches across the U.S.Back to Overview