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The Fidelity Deposit and Discount 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 Fidelity Deposit and Discount Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Fidelity Deposit and Discount Bank was founded in 1903 with headquarters in Dunmore, Pennsylvania. It owns assets of $865 million and $730 million in deposits, which makes it a medium-size bank. The Fidelity Deposit and Discount Bank 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 access to service representatives at a physical location, in addition to its online and mobile apps. On the whole, The Fidelity Deposit and Discount Bank is a satisfactory bank that might not serve all your needs, with a score of 3.4 stars out of 5 from the SmartAsset team. The Fidelity Deposit and Discount Bank offers a full array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account has a monthly fee of $7.00, making it a rather expensive bank for checking. Finding a bank with free checking and a high interest rate savings account is the best option for accruing the highest income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.4/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

With a savings rate of 0.05%, The Fidelity Deposit and Discount Bank ranks poorly in comparison to other U.S. banks. Its one-year CD has a rate of 0.10% and the five-year CD earns at a rate of 0.80%, while its highest-yielding money market account earns at an APY of 0.15%. Given its poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How The Fidelity Deposit and Discount Bank's Savings Rates Compare

The Fidelity Deposit and Discount Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

The Fidelity Deposit and Discount Bank has generally high fees in comparison to other U.S. banks. At $7.00 per month, The Fidelity Deposit and Discount Bank's checking account is not the best option for those who want an easy banking experience. The Fidelity Deposit and Discount Bank doesn't reimburse out-of-network ATM fees, meaning you'll have to search for a The Fidelity Deposit and Discount Bank ATM or pay the withdrawal fee.

Monthly Fee $7.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

3.9
SmartAsset Average: 3.7

The Fidelity Deposit and Discount Bank is a brick-and-mortar bank, with 12 total bank locations in Pennsylvania. With mobile and web apps, The Fidelity Deposit and Discount Bank makes account access straightforward, even on the go. The Fidelity Deposit and Discount Bank's online and mobile banking platforms receive fair marks from users. With 83 ratings on both Apple and Android platforms, the The Fidelity Deposit and Discount Bank mobile app is scored at 3.8 out of 5 (compared to the national average of 3.8). The Fidelity Deposit and Discount Bank's mobile app allows you to manage your funds by looking at account balances, transferring funds as well as accessing customer service. The Fidelity Deposit and Discount Bank receives a superb consumer satisfaction rating due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.8/5
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 Fidelity Deposit and Discount Bank is currently a medium-size bank and owns $865 million in assets and $730 million in deposits. The Fidelity Deposit and Discount Bank has an excellent Texas Ratio of 4.60%, indicating that The Fidelity Deposit and Discount Bank is in terrific financial health and unlikely to fail. Additionally, The Fidelity Deposit and Discount Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.6%
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 Fidelity Deposit and Discount 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 $2500
Certificates of Deposit
  • 12 Month: 0.10% APY
  • 24 Month: 0.15% APY
  • 36 Month: 0.65% APY
  • 48 Month: 0.75% APY
  • 60 Month: 0.80% APY
$1000 for all terms
Money Market Accounts 0.05% APY 0.15% APY $10000 $15000

The Fidelity Deposit and Discount 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 Fidelity Deposit and Discount Bank does not have the best savings rate, which means you should consider 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 Fidelity Deposit and Discount Bank's CD rates are fair compared to other U.S. banks.

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Find a The Fidelity Deposit and Discount Bank Near Me

The Fidelity Deposit and Discount Bank has 12 physical locations in the U.S.

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