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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 first started operating in 2006 with headquarters located in Coronado, California. San Diego Private Bank manages assets of $671 million and deposits totaling $533 million, ranking 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 in-person service, in addition to its online and mobile apps. We ranked the bank at a 4.4 stars out of 5, indicating that San Diego Private Bank is a solid pick to be your bank. San Diego Private Bank has a full selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, the bank's standard checking account does not have a monthly charge. Banks that offer free checking as well as a high interest rate savings account are the best bet for getting the most income on your deposits alongside convenient access to your funds.

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 national average. San Diego Private Bank's one-year CD has a rate of 0.40% and the five-year CD earns at a rate of 1.11%, while its highest-yielding money market account earns at an APY of 0.35%. Given its 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 typically has extremely low fees compared to the average U.S. bank. With no monthly fee, San Diego Private Bank's checking account is perfect for those who need a hassle-free checking account. San Diego Private Bank does not reimburse out-of-network ATM charges, which means you'll have to locate a San Diego Private Bank ATM or pay the cost of withdrawal.

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 branches in California. It also offers access to mobile and web apps for a straightforward mobile-banking experience. San Diego Private Bank receives positive ratings from users for its online presence. The San Diego Private Bank mobile app is rated at 5.0 out of 5 (with 2 reviews on iOS and Android) compared to the national average of 3.8. You can utilize San Diego Private Bank's app to control your bank accounts by looking at monthly statements, transferring funds as well as accessing support representatives. San Diego Private Bank gets a superb consumer satisfaction rating due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government 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 is currently a medium-size bank and owns assets totaling $671 million as well as $533 million in deposits. San Diego Private Bank's Texas Ratio is 0.12%, signifying that San Diego Private Bank is in excellent financial condition and far from 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 Account 0.35% APY $25000

San Diego Private Bank offers several deposit products like 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 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. San Diego Private Bank's CD rates are fair in comparison to other U.S. banks.

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Find a San Diego Private Bank Near Me

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

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