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Standard Bank Review

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Standard Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Standard Bank first started operating in 1921 and its headquarters are located in Murrysville, Pennsylvania. It handles assets of $970 million as well as deposits totaling $697 million, which makes it a medium-size bank. Standard 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. With a score of 3.9 out of 5 stars, Standard Bank should be near the middle of the pack in your search for a bank. Standard Bank has a full array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It 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 account does not have a monthly maintenance charge. Finding an institution with free checking, in addition to a high savings APY is the best option for getting 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

Standard Bank has a savings rate of 0.05%, which is fair compared to the national average. Standard Bank's one-year and five-year term lengths CDs earn at a rate of 0.30% and 1.50%, respectively, while its highest-yielding money market account earns at an APY of 0.10%. Given its poor savings rate, you should think about looking elsewhere to open savings accounts.

How Standard Bank's Savings Rates Compare

Standard Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Standard Bank typically has average fees compared to other U.S. banks. With no monthly fee, Standard Bank is perfect for people who want a basic checking account. For those who often frequent the ATM, it is not the best option because it charges an out-of-network ATM fee of $2.50, which is not great in comparison to the average U.S. bank. Also, Standard Bank has an overdraft fee of $35.00, which is on par with the average U.S. overdraft fee. Standard Bank doesn't reimburse out-of-network ATM charges, meaning you'll have to locate a Standard Bank ATM or pay the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $2.50 National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Standard Bank is a brick-and-mortar bank, with 19 total bank locations in Pennsylvania. It also offers access to mobile and web apps for a simple mobile-banking experience. Standard Bank gets unsatisfactory feedback from customers for its online presence. Out of 21 ratings across Apple and Android platforms, the Standard Bank mobile app rates a 3.2 out of 5 (compared to the national average of 3.8). Standard Bank's mobile app lets you control your accounts by looking at current statements, transferring money as well as reaching support representatives. Standard Bank receives an outstanding consumer satisfaction score based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Standard Bank is a medium-size bank owning assets totaling $970 million as well as deposits totaling $697 million. It has an excellent Texas Ratio of 2.46%, suggesting a negligible probability of failure. Additionally, Standard 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 Standard Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.05% APY $500
Certificates of Deposit
  • 12 Month: 0.30% APY
  • 24 Month: 0.70% APY
  • 36 Month: 1.10% APY
  • 48 Month: 1.30% APY
  • 60 Month: 1.50% APY
$1000 for all terms
Money Market Account 0.08% APY $2500

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

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Find a Standard Bank Near Me

Standard Bank has 19 physical branches in the U.S.

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