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The Fidelity Deposit and Discount Bank Review

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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 started in 1903 with headquarters located in Dunmore, Pennsylvania. It handles 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 support representatives, 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 apps. We ranked The Fidelity Deposit and Discount Bank at a 3.4 out of 5 stars, indicating that it is a satisfactory bank that you should look closer at to see if it fits your needs. The Fidelity Deposit and Discount Bank offers the complete slate of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. The Fidelity Deposit and Discount Bank has a fair savings rate compared to the average savings account. The bank's standard checking product has a $7.00 monthly fee, making it a rather pricey bank for checking. Obtaining a checking account with no monthly fee and a savings account with a high interest rate at the same bank is the best option for gaining the most income on your deposits while having 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 compared to the national average. Its one-year CD earns at a rate of 0.10% and the five-year CD has a rate of 0.80%, while its highest-yielding money market account earns at an APY of 0.15%. Given its noncompetitive savings rate, you should consider other options to earn more on your deposits.

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 compared to other U.S. banks. At $7.00/month, The Fidelity Deposit and Discount Bank is not great for those who want a basic banking experience. The Fidelity Deposit and Discount Bank unfortunately doesn't reimburse out-of-network ATM charges, meaning you will have to locate a The Fidelity Deposit and Discount Bank ATM or eat the cost of withdrawal.

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. It also offers access to mobile and web apps for straightforward access and banking on the go. The Fidelity Deposit and Discount Bank's online and mobile banking platforms receive fair feedback from users. Out of 83 customer reviews across both Apple and Android platforms, the The Fidelity Deposit and Discount Bank mobile app has an overall rating of 3.8 out of 5 (compared to the national average of 3.8). You can utilize The Fidelity Deposit and Discount Bank's app to manage your bank accounts by reviewing account balances, transferring funds as well as accessing customer service. The Fidelity Deposit and Discount Bank receives an outstanding consumer satisfaction rating due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

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 with $865 million in assets and $730 million in deposits. The Fidelity Deposit and Discount Bank's Texas Ratio is 4.60%, suggesting that the bank is in superb financial shape and improbable 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 Account 0.05% APY $2500

The Fidelity Deposit and Discount 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 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 in comparison to the national average.

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Find a The Fidelity Deposit and Discount Bank Near Me

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

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