Sun Canyon Bank VS Fidelity Bank

Which bank is better for you?

  • Financial Rates: 1.5 Star Icon
  • Customer Service: 4.5 Star Icon
  • Website Experience: 4.5 Star Icon
  • Bank Fees: 3.5 Star Icon
No Rate Information
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Pros:

  • Higher rates than typical banks
  • Good variety of accounts online
  • Free ATM transactions
  • Digital Wallet

Cons:

  • Monthly fees for most accounts
  • High opening required amounts
  • Must wait for accounts to activate
  • Tiered interest rates on accounts
  • Financial Rates: 1.0 Star Icon
  • Customer Service: 4.5 Star Icon
  • Website Experience: 4.0 Star Icon
  • Bank Fees: 3.5 Star Icon
No Rate Information
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Pros:

  • Wide variety of accounts available
  • Low opening amounts for most accounts
  • Waived ATM fees for some accounts
  • HSA earns good rates

Cons:

  • Tiered interest rates on account
  • Cannot open accounts online
  • MMAs have high opening amounts
  • Accounts interest rates are low
Sun Canyon Bank Review

The interest rates for Sun Canyon are higher than typical bank rates, but lower than online accounts. The accounts do have tiered interest rates. But even the lowest tier rates are higher than typical bank rates.

Sun Canyon Bank offers online accounts. Those accounts include:

  • Checking account
  • Savings account
  • Money market account
  • Standard CDs in 6, 12, and 24-month terms

Sun Canyon allows for eight ATM transactions each month, or up to $25 per billing cycle, free of fees. The other banking institution may charge a fee. Sun Canyon will not charge a fee for those first ATM transactions.

Through the mobile app, you can make purchases and payments with Sun Canyon Digital Wallet. You load your debit card into the mobile app. You can then make purchases. Sun Canyon also supports Apple, Google, and Samsung Pay.

Most Sun Canyon accounts have fees. The money market fee is $10. To avoid fees, you must keep at least $2,500 in the account. The savings account has a fee of $5 per month. To avoid this fee, you must have a balance of at least $250. The checking account has a fee of $5 if you have less than $5,000 in your checking account. To waive the fees, you can also have set combined balances. The savings account requires $2,500 in combined accounts. The MMA requires $5,000, and the checking account requires $20,000 in combined accounts.

The opening required amounts for Sun Canyon accounts are high. The savings account requires $250 to open. The checking account requires $1,000 to open. The CDs all require $1,000 to open. The money market account requires $2,500. You must keep these amounts in the accounts to avoid the monthly fees.

Apply for an account with Sun Canyon by filling out an application online. Once your application is complete, customer service sends an email when the account activates. You can start using the account once you receive the email.

To earn the most competitive rates, you must have a high account balance. The checking account requires $50,000 for the best rates and the money market requires $100,000. The savings account requires $250,000. Balance over $250 for the savings account and over $2,500 for the MMA and checking accounts earn interest, just not the highest rate.

Read the full Sun Canyon Bank review.

Fidelity Bank Review

Fidelity Bank offers a good selection of personal accounts. Those include:

  • Free checking
  • Relationship checking
  • Legacy checking
  • Statement savings
  • Looney Tunes Children's savings
  • High Interest savings
  • Health Savings Account
  • Personal money market account
  • Superior money market
  • CDs from 12 to 60-months

The opening required amounts for Fidelity Bank accounts are low. The checking accounts and children's savings account require $25 to open. The statement savings account requires $100 to open. The CD terms require $500 to open.

ATM transactions made at Fidelity Bank ATMs are free of fees. Transactions made at other ATMs may have a fee. The Relationship and Legacy checking accounts waive the fees of foreign ATM transactions. You must meet the requirements to open these accounts.

The Health Savings Account offers good rates. It offers the highest interest rate out of the Fidelity Bank savings accounts. To earn the highest interest rate for the HSA, you must have $15,000 in the account.

The Superior MMA has tiered interest rates. To earn the highest rate, you must have at least $250,000 in the account. Balances below that amount earn interest, just not the highest rate. Even the highest interest rate is not competitive with other online accounts.

To open an account with Fidelity Bank, you must visit a branch location. They do not offer online account applications. They have branch locations in Kansas.

The money market accounts have high opening required amounts. The Personal MMA requires $2,500 to open. The High Interest savings account also requires $2,500 to open. The Superior MMA requires $10,000 to open.

The interest rates for Fidelity Bank accounts are low. They are not competitive with other online-only accounts. Some accounts offer rates slightly higher than typical banks. Most account rates are competitive with typical bank rates.

Read the full Fidelity Bank review.

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