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The Old Point National Bank of Phoebus Review

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The Old Point National Bank of Phoebus Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Old Point National Bank of Phoebus started in 1922 and has its headquarters in Hampton, Virginia. The Old Point National Bank of Phoebus handles $977 million in assets as well as deposits totaling $787 million, classifying it as a medium-size bank. The Old Point National Bank of Phoebus has above-average access to customer service with a live chat feature, great for getting help during the work week. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. We gave the bank a 4 out of 5 stars, indicating that The Old Point National Bank of Phoebus is a respectable bank that warrants your consideration. The Old Point National Bank of Phoebus provides customers with a varied selection of product offerings, including 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. If you're interested in stress-free personal checking, the bank's standard checking account does not carry a monthly maintenance charge. Banks that offer free checking and a high savings APY are your best bet for accruing the highest income from your deposits alongside convenient 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

3.1
SmartAsset Average: 3.5

With a savings rate of 0.10%, The Old Point National Bank of Phoebus ranks poorly in comparison to other U.S. banks. The Old Point National Bank of Phoebus's CDs feature a rate of 0.75% and 1.60% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.30%. Given its noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How The Old Point National Bank of Phoebus's Savings Rates Compare

The Old Point National Bank of Phoebus Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, The Old Point National Bank of Phoebus charges its customers extremely low fees in comparison to other U.S. banks. With no monthly fee, The Old Point National Bank of Phoebus is perfect for people who want a basic banking experience. The Old Point National Bank of Phoebus unfortunately does not refund out-of-network ATM charges, which means you'll be required to find a The Old Point National Bank of Phoebus ATM or pay the ATM charge.

Monthly Fee $0 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

3.5
SmartAsset Average: 3.7

The Old Point National Bank of Phoebus is a brick-and-mortar bank, with 23 total bank locations in Virginia. It also offers access to mobile and web apps for easy access and banking on the go. The Old Point National Bank of Phoebus also offers a live chat feature, a helpful way to reach a representative during the work day. The Old Point National Bank of Phoebus gets poor marks from users for its mobile app. The The Old Point National Bank of Phoebus mobile app rates a 2.7 out of 5 (with 40 reviews on Apple and Android) compared to the national average of 3.8. You can use The Old Point National Bank of Phoebus's mobile app to manage your funds by checking current statements, transferring funds as well as accessing customer service. The Old Point National Bank of Phoebus gets a superb consumer satisfaction score due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 2.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

4.4
SmartAsset Average: 4.8

The Old Point National Bank of Phoebus is a medium-size bank owning $977 million in assets as well as $787 million in deposits. Its Texas Ratio is 13.08%, denoting a small likelihood of failure. Additionally, The Old Point National Bank of Phoebus is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

13.08%
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 Old Point National Bank of Phoebus to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $10
Checking Account 0.03% APY $1
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 1.15% APY
  • 36 Month: 1.40% APY
  • 48 Month: 1.40% APY
  • 60 Month: 1.60% APY
$500 for all terms
Money Market Account 0.25% APY $10000

The Old Point National Bank of Phoebus 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 Old Point National Bank of Phoebus 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 Old Point National Bank of Phoebus's CD rates are fair compared to other U.S. banks.

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Find a The Old Point National Bank of Phoebus Near Me

The Old Point National Bank of Phoebus has 23 physical branches across the U.S.

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