Founded in 1906, The Dime Bank has $655 million in assets along with $500 million in deposits, ranking it as a medium-size bank. The Dime Bank, whose headquarters are in Honesdale, Pennsylvania, lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. SmartAsset experts rated The Dime Bank 3.9 out of 5 stars, indicating that it is a respectable bank that deserves your consideration. The Dime Bank provides customers with a variety of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. The Dime Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, The Dime Bank's standard checking does not carry a monthly maintenance fee. Banks that offer free checking as well as a high interest rate savings account are the best bet for getting the highest income on your deposits while maintaining convenient access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.10%, The Dime Bank ranks poorly in comparison to other U.S. banks. The Dime Bank's one-year and five-year term lengths CDs earn at a rate of 0.55% and 1.50%, respectively, while its highest-yielding money market account has a rate of 0.20%. Given The Dime Bank's below average savings rate, you should think about taking a look at other banks for savings accounts.
How The Dime Bank's Savings Rates Compare
The Dime Bank has typically low fees compared to other U.S. banks. With no monthly fee, The Dime Bank's checking account is ideal for those who need an easy banking experience. Also, at $35.00, The Dime Bank has a lower overdraft fee compared to the national average. The Dime Bank does not reimburse out-of-network ATM charges, which means you'll need to locate a The Dime Bank ATM or pay the withdrawal fee.
The Dime Bank is a brick-and-mortar bank, with eight total bank locations in Pennsylvania. With mobile and web apps, The Dime Bank makes account access convenient, even on the go. The Dime Bank receives fair feedback from users for its online presence. With 33 ratings across both iOS and Android platforms, the The Dime Bank mobile app is scored at 3.6 out of 5 (compared to the national average of 3.8). The Dime Bank's mobile app lets you manage your bank accounts by reviewing account balances, sending and receiving funds as well as reaching customer service. The Dime Bank receives a superb consumer satisfaction rating due to comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
The Dime Bank is currently a medium-size bank and manages $655 million in assets and $500 million in deposits. The Dime Bank's Texas Ratio is 14.23%, suggesting that the bank is in fine financial well-being and unlikely to fail. Additionally, The Dime 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.Back to Overview
Compare The Dime Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$2500|
|Checking Account||0.1% APY||$1000|
|Certificates of Deposit|| ||$2500 for all terms|
|Money Market Accounts||0.2% APY 0.2% APY||$10000 $15000|
The Dime 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. The Dime 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. The Dime Bank's CD rates are fair in comparison to other U.S. banks.Back to Overview
Find a The Dime Bank Near Me
The Dime Bank has eight locations across the U.S.Back to Overview