Fidelity Bank & Trust Review: Local Expertise and Competitive Products
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
Commitment to Our Readers
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100 years of service, backed by competitive rates.
This regional bank combines personalized service with a large lineup of options, making it a great choice for those seeking local banking with big-bank features. GOBankingRates named Fidelity Bank & Trust as one of the Best Banks in Iowa for 2025.
Serving Illinois, Iowa and Wisconsin for over 100 years, Fidelity Bank & Trust offers many of the same products as larger banks. Customers can choose from a variety of checking and savings accounts, as well as competitive loans and CDs.
Fidelity Bank & Trust Checking Accounts
You can choose from five different checking accounts at Fidelity Bank & Trust.
- Hometown Checking, Hometown HYPE and Hometown Interest require a $50 opening deposit.
- HYPE Xtreme requires a $50,000 opening deposit, while Snap $tack Checking requires a $1,000 deposit.
- Hometown HYPE, HYPE Xtreme and Hometown Interest are interest-earning accounts.
- Hometown Checking and Hometown HYPE do not have a minimum daily balance requirement or a monthly service charge.
- Hometown HYPE Checking pairs with BaZing to give you cell phone protection, roadside assistance and fraud coverage. To qualify for these perks you must meet the transaction and account requirements.
- You can earn up to APY on Hometown HYPE accounts if you meet specific requirements.
Best For
Banking in Iowa
Mobile App
Low Monthly Fees
Loan Options
Investment Services
Competitive Rates
Fidelity Bank & Trust provides a range of checking accounts, including low-deposit options and premium accounts with competitive APYs for those who meet balance requirements.
Fees
$0 to $10 monthly
APY
Up to
Min Opening
$50 to $50,000
Pros
- Variety of checking accounts
- Minimum deposit is low on some accounts
- Individuals with high balances can benefit from competitive APYs
Cons
- Limited geographic locations
- To qualify for interest accounts there is a high balance requirement
Quick Take
Fidelity Bank & Trust comes with several checking account options. Minimum deposits are low for everyday checking, and those with higher balances will benefit from competitive APYs.
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Fidelity Bank & Trust Savings Accounts
Fidelity Bank & Trust has two savings accounts — Regular Savings and a Christmas Club account.
- The Regular Savings account requires $25 to open and earns APY.
- The Christmas Club account requires $25 to open, and it earns a APY.
- FDIC insured accounts.
- Regular Savings account comes with a debit card.
- The Christmas Club savings account allows for a $5,000 maximum deposit and a maximum account balance of $15,000.
- If either account has a zero balance for 60 days, it will automatically close. A deposit will reopen the account.
Best For
Banking in Iowa
Mobile App
Low Monthly Fees
Loan Options
Investment Services
Open With Just $25
Fidelity Bank & Trust offers simple savings options, including a basic account with debit card access and a Christmas Club account with a competitive APY to help you save for holiday expenses.
Fees
No monthly service fee
APY
Up to
Min Opening
$25
Pros
- Variety of accounts
- Low minimum deposit
- Debit card access
- No monthly maintenance fees
Cons
- Low APYs for Regular Savings
- Savings account will automatically close if there is a zero balance for 60 days
Quick Take
A no-frills savings account is available at Fidelity Bank & Trust which requires a $25 minimum opening deposit. The Christmas Club Savings account also helps to maximize the amount you can spend on loved ones.
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Fidelity Bank & Trust CD Accounts
The CD terms at Fidelity Bank & Trust range from 91 days to 5 years. Interest earned can be distributed semi-annually or credited to your account.
- You’ll need $500 to open a new traditional CD account.
- There is a College Fund CD that you can open with a $25 deposit. For this account, one person over 18 is needed to join as a co-owner. It earns a APY.
- APYs vary based on term and balance. They go up to on traditional CDs.
- FDIC insured accounts.
Best For
Banking in Iowa
Mobile App
Low Monthly Fees
Loan Options
Investment Services
Low Deposits and Variety of Terms
Fidelity Bank & Trust CDs offer competitive APYs, flexible terms and a low $25 entry point for the College Fund CD.
Fees
Early withdrawal fees may apply
APY
Min Opening
$25 to $500
Pros
- Competitive APYs
- Special CD for college savings
- Varying CD lengths
- Low entry point for College Fund CDs
Cons
- Early withdrawal penalty
- Some rates are promotional only
- A $500 opening deposit may be too high for some customers
Quick Take
Fidelity Bank & Trust offers competitive APYs on CDs. College Fund CD has a low minimum deposit of $25 and a competitive APY to make saving for your children’s education more manageable.
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Fidelity Bank & Trust Money Market Accounts
Fidelity Bank & Trust has a money market account that requires a $1,000 minimum deposit. This type of account allows you to grow your money while still providing access to your funds.
- APYs range from to .
- Only exceptionally high balances are rewarded with a higher APY.
- If the money market balance falls below $1,000, there will be a $10 service charge.
- FDIC insured accounts.
Best For
Banking in Iowa
Mobile App
Low Monthly Fees
Loan Options
Investment Services
Earn Interest While Staying Flexible
Fidelity Bank & Trust’s money market account offers interest and access to your funds. High balances earn better rates, but a $1,000 minimum is required to avoid fees.
Fees
$10 monthly
APY
Up to
Min Opening
$1,000
Pros
- High balances are rewarded with a higher interest rate
- FDIC insured
Cons
- High minimum deposit
- Low APYs
Quick Take
Fidelity Bank & Trust has a money market account but it requires a high deposit for a low APY. Individuals may look elsewhere for a lower minimum deposit and higher APY.
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Banking Experience
Fidelity Bank & Trust has a 100-year history and presence in Iowa, Wisconsin and Illinois. It offers a full suite of financial products, including checking, savings and money market accounts. The bank also has competitive CDs.
Fidelity Bank & Trust also has a mortgage services arm and wealth management, including trust, investment and brokerage services. Business services are also provided.
Customer Service
You can contact Fidelity Bank & Trust through the individual branches; individual contact numbers are listed on the website. You can also fill out the online form to contact customer service.
There is the option of walking into a branch if you have questions about your account.
Fidelity Bank & Trust has a 4.6 out of 5-star rating on Google Play, and the Apple Store rates it as 4.8 stars out of 5.
Comparable Banking Options
Look at how Fidelity Bank & Trust stacked up against some of its competitors.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0 to $10 monthly
$0 or $12, with options to waive
No monthly fees
APY
APY
APY
Up to
N/A
Min Opening
Min Opening
Min Opening
$50 to $50,000
$0
$0
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
$5 monthly, waivable
No monthly service fee
APY
APY
APY
Up to
Up to
Min Opening
Min Opening
Min Opening
$25
$0
$0
Fidelity Bank & Trust vs. Chase
Chase Bank is one of the largest national banks in the U.S., with a vast network of over 4,700 branches and 15,000 ATMs. Chase offers products similar to Fidelity Bank & Trust, but its national presence is much more significant than that of a regional bank.
The choice between Chase Bank and Fidelity Bank & Trust depends on your financial personality. Choose a regional bank if you live in the tri-state region where Fidelity Bank & Trust has branches and want a personal connection.
Fidelity Bank & Trust vs. Varo Bank
If you carry a balance of $5,000 in a savings account, you will earn up to at Varo Bank. There are also checking accounts with no hidden fees. Varo Bank is entirely online and doesn’t offer CDs.
Fidelity Bank & Trust is a good option if you want in-person services and CDs.
Fidelity Bank & Trust vs. SoFi®
SoFi is an online bank with competitive APYs on its Checking & Savings accounts, Member FDIC. The bank’s savings account has an up to Annual Percentage Yield on new accounts with eligible direct deposit. SoFi has an extensive ATM network with 55,000 ATMs worldwide.
In comparison, Fidelity Bank & Trust is much smaller in terms of its network. The savings account offers a much lower APY; branch availability is regulated in Illinois, Iowa and Wisconsin.
Final Take
Fidelity Bank & Trust is a good fit for those in Illinois, Iowa and Wisconsin tri-state. The bank offers a generous line of products with checking accounts for everyday users and those with high balances. If you have a young child and want to invest in their college savings, the College CD Fund may be an option since it only requires a $25 monthly deposit and offers a competitive APY.
Fidelity Bank & Trust FAQ
Here are the answers to some of the most frequently asked questions about Fidelity Bank & Trust.- What is the external funds transfer limit for Fidelity Bank & Trust?
- Information on transfer limits is not published on the website. Contact your local branch to learn about limits.
- Does Fidelity Bank & Trust support Zelle for money transfers?
- No, Fidelity Bank & Trust does not have Zelle as a part of its digital platform.
- What types of products are available at Fidelity Bank & Trust?
- Fidelity Bank & Trust offers checking, savings and money market accounts. The bank also offers business checking, loans and credit cards. Fidelity Bank & Trust has a mortgage division as well.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 20, 2024.
To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 20, 2024.
To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
SoFi has partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
