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PS Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
PS Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1914, PS Bank has $348 million in assets as well as $293 million in deposits, making the institution a small bank. PS Bank, whose headquarters are in Wyalusing, Pennsylvania, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. We ranked the bank at a 4.3 out of 5 stars, suggesting PS Bank is a great bank that you should seriously consider. PS Bank has a choice of product offerings, which include savings accounts, checking accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, PS Bank's standard checking account does not have a monthly fee. Institutions that offer no-fee checking, in addition to a high interest rate savings account are the best option for accruing the highest income from 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

3.3
SmartAsset Average: 3.5

PS Bank has a savings rate of 0.05%, which is poor compared to the average U.S. bank. Its CDs feature a rate of 1.16% and 2.02% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.30%. Given PS Bank's poor savings rate, you should think about looking at the competition to open savings accounts.

How PS Bank's Savings Rates Compare

PS Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

PS Bank has typically extremely low fees as compared against the national average. With no monthly fee, PS Bank's checking account is ideal for people who need an easy checking account. PS Bank unfortunately does not refund out-of-network ATM fees, meaning you will have to search for a PS 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

4.1
SmartAsset Average: 3.7

PS Bank is a brick-and-mortar bank, with nine total branches in Pennsylvania. It also offers access to mobile and web apps for a straightforward mobile-banking experience. PS Bank's online and mobile banking platforms get relatively decent scores from customers. Out of 43 customer reviews across iOS and Android platforms, the PS Bank mobile app has an overall rating of 4.3 out of 5 (compared to the national average of 3.8). PS Bank's mobile app allows you to manage your funds by looking at current statements, transferring funds as well as reaching support representatives. PS Bank gets an excellent consumer satisfaction rating 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 4.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

PS Bank is currently a small bank and handles assets totaling $348 million as well as deposits totaling $293 million. It has a strong Texas Ratio of 7.75%, indicating that PS Bank is in good financial condition and far from failure. Additionally, PS Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

7.75%
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 PS Bank 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 $1000
Certificates of Deposit
  • 12 Month: 1.16% APY
  • 24 Month: 1.51% APY
  • 36 Month: 1.77% APY
  • 48 Month: 1.87% APY
  • 60 Month: 2.02% APY
$500 for all terms
Money Market Accounts 0.05% APY 0.3% APY $10000 $15000

PS Bank offers several deposit products including savings accounts, checking accounts and CDs that provide you with many options to manage your money. PS Bank 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. PS Bank's CD rates are fair compared to the national average.

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Find a PS Bank Near Me

PS Bank has nine branches in the U.S.

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