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    Cape Ann Savings Bank

    Cape Ann Savings Bank

    (7 reviews)

    This is perhaps the worst banking experience I have ever had. Angry, unruly and unhelpful people…read morehere...........avoid at all costs!

    There people are very nice and helpful - as good as any bank I have ever dealt with…read more The reason for 3 stars and not 5 is absurdity in fees. Almost every bank offers debit cards free of fees. Cape Ann charged $1 for each use as a debit card, but not when used as credit (less desirable for merchants; I have seen many that ask for debit instead of credit if possible and one that accepts only debit). To the bank's credit, the person who helped open my account was very clear about this and told me to always select credit when making a purchase to avoid the fee. I used this bank because I had the need for a business account in the town that has a branch, but would never use a bank with a fee structure like this for my personal account. And yes, the $1 fee also applies to personal accounts. The bank does not use state of the art security. Their idea of multi-factor online banking authentication is a password plus a security question. They did not even seem to be familiar with the industry standard of sending a one-time code to a cell phone or using a token generation app registered to the account. This meshes nicely with the account terms that are basically "customer agrees that any losses due to electronic fraud are their loss, not the banks". Updated: I just received by initial check order of two pads of 50 checks each (no cover included). I was not amused when I saw that Cape Ann Savings charged $33.99 for this. Wow. Just Wow. Any reorder will go to an independent (Walmart is $8.50 for 50% more checks)

    TD Banknorth - banks - Updated May 2026

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