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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 was founded in 1922 and is headquartered in Hampton, Virginia. It owns $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 customer service access with a live chat feature, great for getting help during the work week. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Coming in at a commendable 4 out of 5 stars, The Old Point National Bank of Phoebus is a respectable bank that gets the job done. The Old Point National Bank of Phoebus provides customers with a complete selection of banking products, 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. If you're looking for a checking account for everyday use, The Old Point National Bank of Phoebus's ordinary checking account does not have a monthly fee. Obtaining a checking account with no monthly fee and a savings account with a high interest rate at the same bank is the best bet for accruing the most income on your deposits alongside easy access to your funds.

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 compared to other U.S. banks. Its one-year CD has a rate of 0.60% and the five-year CD has a rate of 1.60%, while its highest-yielding money market account has a rate of 0.25%. Given its noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.

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 customers extremely low fees compared to the national average. With no monthly fee, The Old Point National Bank of Phoebus is ideal for those who want a basic banking experience. The Old Point National Bank of Phoebus doesn't refund out-of-network ATM fees, meaning you'll have to find a The Old Point National Bank of Phoebus ATM or accept the withdrawal fee.

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 an easy mobile-banking experience. The Old Point National Bank of Phoebus also offers a live chat feature, giving customers an easy access point throughout the day. The Old Point National Bank of Phoebus gets unsatisfactory reviews from users for its mobile banking services. The The Old Point National Bank of Phoebus mobile app is rated at 2.7 out of 5 (out of 40 customer reviews on iOS and Android) compared to the national average of 3.8. The Old Point National Bank of Phoebus's mobile app lets you manage your finances by reviewing current statements, transferring money as well as accessing support representatives. The Old Point National Bank of Phoebus receives an exceptional consumer satisfaction score based on comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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 assets totaling $977 million as well as $787 million in deposits. The Old Point National Bank of Phoebus's Texas Ratio is 13.08%, indicating that the bank is in fine financial condition and far from 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: 0.60% APY
  • 24 Month: 0.80% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.00% APY
  • 60 Month: 1.60% APY
$500 for all terms
Money Market Account 0.15% APY $10000

The Old Point National Bank of Phoebus offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you 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 as compared against the national average.

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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 locations across the U.S.

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