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Wayne Bank Review

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Wayne Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 1871, Wayne Bank has assets totaling $1 billion as well as $934 million in deposits, which makes it a medium-size bank. Wayne Bank, whose headquarters are in Honesdale, Pennsylvania, lacks premium access to support representatives, with no live chat or all-day service options available. 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, Wayne Bank is a solid contender in your bank search, with a score of 4.2 out of 5 stars from our experts. Wayne Bank offers a complete array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Wayne Bank's standard checking account does not have a monthly maintenance charge. Institutions that offer free checking, in addition to a high savings APY are your best option for getting the highest income from your deposits while having convenient access to your money.

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

Wayne Bank has a savings rate of 0.05%, which is fair compared to the average U.S. bank. Its one-year CD earns at a rate of 0.65% and the five-year CD has a rate of 1.50%, while its highest-yielding money market account has a rate of 0.10%. Given its noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How Wayne Bank's Savings Rates Compare

Wayne Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Wayne Bank charges customers extremely low fees in comparison to other U.S. banks. With no monthly fee, Wayne Bank's checking account is perfect for those who want an easy checking account. For those who withdraw cash often, Wayne Bank is perfect because it has no out-of-network ATM fees. Wayne Bank unfortunately does not refund out-of-network ATM fees, meaning you will be required to locate a Wayne Bank ATM or eat the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Wayne Bank is a brick-and-mortar bank, with 26 total bank locations in New York and Pennsylvania. It also offers access to mobile and web apps for easy access and banking on the go. Wayne Bank's online and mobile banking services get fair feedback from users. With 32 ratings across both Apple and Android platforms, the Wayne Bank mobile app is scored at 3.7 out of 5 (compared to the national average of 3.8). Wayne Bank's mobile app lets you manage your funds by reviewing monthly statements, sending and receiving money as well as reaching support representatives. Wayne Bank gets an excellent consumer satisfaction score due to relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Wayne Bank is a medium-size bank owning assets totaling $1 billion and deposits totaling $934 million. Wayne Bank has an excellent Texas Ratio of 3.51%, indicating a negligible chance of failure. Additionally, Wayne 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 Wayne Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $50
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.65% APY
  • 24 Month: 0.75% APY
  • 36 Month: 1.06% APY
  • 48 Month: 1.40% APY
  • 60 Month: 1.50% APY
$500 for all terms
Money Market Account 0.1% APY $2500

Wayne Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Wayne 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. Wayne Bank's CD rates are fair compared to other U.S. banks.

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Find a Wayne Bank Near Me

Wayne Bank has 26 locations in the U.S.

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