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The Dime Bank Review

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The Dime Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 1906, The Dime Bank has assets totaling $655 million along with deposits totaling $500 million, which makes the institution a medium-size bank. The Dime Bank, whose headquarters are in Honesdale, Pennsylvania, lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With an average 3.9 out of 5 stars, The Dime Bank proves it is a respectable bank that deserves your consideration. The Dime Bank offers the complete selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, 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 Dime Bank's standard checking account does not have a monthly fee. Institutions that offer free checking, in addition to a high savings APY are your best bet for accruing the most income on your deposits alongside easy access to your funds.

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

The Dime Bank has a savings rate of 0.10%, which is poor compared to other U.S. banks. Its CD rates are 0.55% and 1.50% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.15%. Given The Dime Bank's noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How The Dime Bank's Savings Rates Compare

The Dime Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

The Dime Bank typically has low fees compared to the national average. With no monthly fee, The Dime Bank's checking account is perfect for those who need a hassle-free checking account. Also, it has an overdraft fee of $35.00, which is on par with the national average overdraft fee. The Dime Bank unfortunately does not reimburse out-of-network ATM fees, meaning you'll need to search for a The Dime 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 $35.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

The Dime Bank is a brick-and-mortar bank, with eight total branches in Pennsylvania. It also offers access to mobile and web apps for easy access and banking on the go. The Dime Bank's online and mobile banking platforms receive moderate marks from users. The The Dime Bank mobile app rates a 3.6 out of 5 (out of 33 ratings on iOS and Android) compared to the national average of 3.8. The Dime Bank's mobile app allows you to manage your accounts by checking monthly statements, sending and receiving money and accessing customer service. The Dime Bank gets an exceptional consumer satisfaction score based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

The Dime Bank is a medium-size bank with $655 million in assets as well as deposits totaling $500 million. The Dime Bank has a strong Texas Ratio of 14.23%, suggesting a small likelihood of failure. 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

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 Dime Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $2500
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 0.55% APY
  • 24 Month: 0.75% APY
  • 36 Month: 1.05% APY
  • 48 Month: 1.30% APY
  • 60 Month: 1.50% APY
$2500 for all terms
Money Market Account 0.15% APY $2500

The Dime Bank has several deposit products like 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 consider 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 Dime Bank's CD rates are fair in comparison to the national average.

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Find a The Dime Bank Near Me

The Dime Bank has eight physical locations in the U.S.

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