Loading
Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

The Cape Cod Five Cents Savings Bank Review

Your Details Done
by Updated
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

Founded in 1855, The Cape Cod Five Cents Savings Bank has assets totaling $3 billion as well as $3 billion in deposits, making it a large bank. The Cape Cod Five Cents Savings Bank, whose headquarters are in Harwich Port, Massachusetts, 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 access to service representatives at a physical location, 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 out of 5 stars from the SmartAsset team. The Cape Cod Five Cents Savings Bank has a variety of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, The Cape Cod Five Cents Savings Bank's standard checking account does not have a monthly fee. Locating a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same bank is your best bet for returning the most income from your deposits while maintaining easy access to your money.

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

With a savings rate of 0.05%, The Cape Cod Five Cents Savings Bank ranks poorly in comparison to the national average. The Cape Cod Five Cents Savings Bank's one-year and five-year term lengths CDs earn at a rate of 0.45% and 1.65%, respectively, while its highest-yielding money market account has an APY of 0.20%. Given The Cape Cod Five Cents Savings Bank's poor savings rate, you should think about taking a look at other banks for savings accounts.

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
Back to Overview

Fees

4.5
SmartAsset Average: 4.4

The Cape Cod Five Cents Savings Bank has typically low fees in comparison to the average U.S. bank. With no monthly fee, The Cape Cod Five Cents Savings Bank is perfect for those who want a simple banking experience. For those who will need cash in a pinch, it is good because it charges 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 doesn't reimburse out-of-network ATM fees, which means you will be required to search for a The Cape Cod Five Cents Savings Bank ATM or eat the fee.

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
Back to Overview

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 a straightforward mobile-banking experience. It offers all-day access to representatives. The Cape Cod Five Cents Savings Bank gets poor marks from users for its mobile platform. The The Cape Cod Five Cents Savings Bank mobile app scored a 3.3 out of 5 (out of 80 customer reviews on iOS and Android) compared to the national average of 3.8. You can access The Cape Cod Five Cents Savings Bank's app to control your finances by monitoring current statements, transferring funds and accessing support representatives. The Cape Cod Five Cents Savings Bank gets a superb consumer satisfaction rating due to relatively few complaints filed 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
Back to Overview

Financial Health

4.8
SmartAsset Average: 4.8

The Cape Cod Five Cents Savings Bank is a large bank and owns $3 billion in assets as well as deposits totaling $3 billion. The Cape Cod Five Cents Savings Bank's Texas Ratio is 4.09%, denoting a minute probability of failure. 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.

Back to Overview

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 Account 0.1% APY $10000

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 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. The Cape Cod Five Cents Savings Bank's CD rates are fair compared to other U.S. banks.

Back to Overview

Find a The Cape Cod Five Cents Savings Bank Near Me

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

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure