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San Diego Private Bank Review

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San Diego Private Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

San Diego Private Bank was founded in 2006 with its headquarters in Coronado, California. San Diego Private Bank owns $671 million in assets as well as $533 million in deposits, classifying it as a medium-size bank. San Diego Private Bank 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 access to service representatives at a physical location, in addition to its online and mobile apps. With a commendable 4.4 stars out of 5, San Diego Private Bank proves it is a great bank that you should seriously consider. San Diego Private Bank provides customers with a mixture of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. San Diego Private Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, the bank's standard checking does not have a monthly maintenance charge. Locating a checking account with no monthly fee and a savings account with a high APY at the same bank is the best option for gaining the most income from your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

3.2
SmartAsset Average: 3.5

With a savings rate of 0.20%, San Diego Private Bank ranks poorly in comparison to the average U.S. bank. San Diego Private Bank's one-year and five-year term lengths CDs earn at a rate of 0.40% and 1.11%, respectively, while its highest-yielding money market account earns at an APY of 0.35%. Given San Diego Private Bank's noncompetitive savings rate, you should think about looking at the competition to open savings accounts.

How San Diego Private Bank's Savings Rates Compare

San Diego Private Bank Savings 0.20 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

San Diego Private Bank has generally extremely low fees as compared against the national average. San Diego Private Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a hassle-free account. San Diego Private Bank doesn't reimburse out-of-network ATM fees, meaning you'll have to search for a San Diego Private Bank ATM or pay 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

4.5
SmartAsset Average: 3.7

San Diego Private Bank is a brick-and-mortar bank, with five total bank locations in California. It also offers access to mobile and web apps for a straightforward mobile-banking experience. San Diego Private Bank gets high praise from users for its mobile platform. The San Diego Private Bank mobile app is rated at 5.0 out of 5 (with 2 ratings on Apple and Android) compared to the national average of 3.8. San Diego Private Bank's mobile app allows you to manage your funds by monitoring account balances, sending and receiving funds as well as reaching support representatives. San Diego Private Bank receives an exceptional consumer satisfaction score based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 5.0/5
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

San Diego Private Bank ranks as a medium-size bank with assets totaling $671 million and deposits totaling $533 million. San Diego Private Bank's Texas Ratio is 0.12%, suggesting a negligible likelihood of failure. Additionally, San Diego Private 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 San Diego Private Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $300
Checking Account 0.1% APY $1
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.50% APY
  • 36 Month: 0.80% APY
  • 48 Month: 1.01% APY
  • 60 Month: 1.11% APY
$1000 for all terms
Money Market Accounts 0.35% APY 0.35% APY $10000 $15000

San Diego Private Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. San Diego Private Bank does not have the best savings rate, which means you should think about 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. San Diego Private Bank's CD rates are fair as compared against the national average.

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Find a San Diego Private Bank Near Me

San Diego Private Bank has five physical locations across the U.S.

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