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The Cape Cod Five Cents Savings 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
The Cape Cod Five Cents Savings Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Cape Cod Five Cents Savings Bank was founded in 1855 with headquarters located in Harwich Port, Massachusetts. It manages assets of $3 billion along with $3 billion in deposits, ranking it as a large bank. The Cape Cod Five Cents Savings Bank has above-average customer service access with all-day support available, which is helpful for those that work during typical customer service hours. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. On the whole, The Cape Cod Five Cents Savings Bank is a good bank that deserves your consideration, with a rating of 4.0 stars out of 5 from our team. The Cape Cod Five Cents Savings Bank provides customers with a mixture of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. The Cape Cod Five Cents Savings Bank has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, The Cape Cod Five Cents Savings Bank offers an option without a monthly fee. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same bank is your best option for gaining the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

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

Rates

3.0
SmartAsset Average: 3.5

The Cape Cod Five Cents Savings Bank features a savings rate of 0.05%, which is poor as compared against the national average. The Cape Cod Five Cents Savings Bank's CDs feature a rate of 0.45% and 1.65% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.20%. Given The Cape Cod Five Cents Savings Bank's below average savings rate, you should consider choosing another bank to earn more on your deposits.

How The Cape Cod Five Cents Savings Bank's Savings Rates Compare

The Cape Cod Five Cents Savings Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

On average, The Cape Cod Five Cents Savings Bank charges customers low fees in comparison to the average U.S. bank. With no monthly fee, The Cape Cod Five Cents Savings Bank's checking account is ideal for those who want an easy banking experience. For those who visit the ATM often, it is good because it has an out-of-network ATM fee of $1.00, which is solid as compared against the national average. The Cape Cod Five Cents Savings Bank does not reimburse out-of-network ATM fees, meaning you'll be required to locate a The Cape Cod Five Cents Savings Bank ATM or accept the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $1.00 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

3.8
SmartAsset Average: 3.7

The Cape Cod Five Cents Savings Bank is a brick-and-mortar bank, with 21 total bank locations in Massachusetts. It also offers access to mobile and web apps for an easy mobile-banking experience. It offers all-day customer service. The Cape Cod Five Cents Savings Bank's online and mobile banking services receive poor feedback from users. The The Cape Cod Five Cents Savings Bank mobile app is rated at 3.3 out of 5 (out of 80 reviews on Apple and Android) compared to the national average of 3.8. You can use The Cape Cod Five Cents Savings Bank's mobile app to control your funds by reviewing monthly statements, sending and receiving funds as well as reaching customer service. The Cape Cod Five Cents Savings Bank gets an outstanding consumer satisfaction score based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

The Cape Cod Five Cents Savings Bank is a large bank and handles $3 billion in assets as well as $3 billion in deposits. Its Texas Ratio is 4.09%, signifying that the bank is in superb financial health and improbable to fail. Additionally, The Cape Cod Five Cents Savings Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.09%
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 The Cape Cod Five Cents Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $10
Checking Account 0.05% APY $10
Certificates of Deposit
  • 12 Month: 0.45% APY
  • 24 Month: 0.95% APY
  • 36 Month: 1.15% APY
  • 48 Month: 1.40% APY
  • 60 Month: 1.65% APY
$1000 for all terms
Money Market Accounts 0.1% APY 0.2% APY $10000 $15000

The Cape Cod Five Cents Savings Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. The Cape Cod Five Cents Savings Bank does not have the best savings rate, which means you should think about taking a look 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. The Cape Cod Five Cents Savings Bank's CD rates are fair compared to the national average.

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Find a The Cape Cod Five Cents Savings Bank Near Me

The Cape Cod Five Cents Savings Bank has 21 physical locations across the U.S.

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