About Bank of the West
Bank of the West is headquartered in San Francisco and possessed by the French fiscal mammoth BNP Paribas. The bank has further than 500 branches in 19 countries, substantially in the West and Midwest. It offers a wide range of banking and investment products for particular, marketable and wealth operation guests. That’s why GOBankingRates has ranked it as one of the Stylish Regional Banks of 2022 as well as one of the Top 100 Banks of 2022 in its periodic lists.
Bank of the West Checking Accounts
Bank of the West has three checking accounts Any Deposit Checking, Premier Checking and 1 for the Earth. With the ultimate account, the bank donates 1 of the account’s net profit to environmental causes. Each account comes with an option to waive the yearly service figure.
Guests have$ 0 liability on fraudulent deals with Bank of the West’s checking accounts. The minimal deposit for the Any Deposit Checking and 1 for the Earth Checking is a bare$0.01. Both of these accounts also offer a$ 0 yearly service charge if you make at least one deposit per statement period, or if you’re under the age of 25.
With the Premier Checking account, the$ 25 yearly service charge is waived when you maintain a minimal combined average balance of at least$ in eligible accounts. Premier Checking is also the only interest- bearing account of the three.
Bank of the West Savings Account
Bank of the West offers one traditional savings regard, called Classic Savings, which you can open for as little as$ 25. The account comes with an Auto-Save point that will automatically transfer plutocrat from your checking account to the savings regard.
You can avoid the$ 5 yearly service figure by using Auto-Save to set up recreating yearly transfers of$ 25 or further from a Bank of the West checking account. Another way to avoid the figure is to maintain an average yearly balance of$ 300 or further (except in Minnesota, where the demand is$ 50 or further).
The strike of this account is that it offers a veritably low APY of0.01 anyhow of the balance. On the else side, interest composites daily.
Bank of the West Money Market Account
Guests can get a advanced interest rate on their savings with a Choice Plutocrat Market Savings account, which offers an APY of0.02 to0.12, depending on the balance and checking relationship. A minimal deposit of$ 100 is needed to open the plutocrat request account. There are no freights for deposits or recessions made at ATMs or in branches.
Interest Composites daily with the Plutocrat Request count, and there are three ways to waive the yearly conservation figure. You ’ll need to keep a high balance to get the stylish interest rates, however.
Bank of the West CD Accounts
Bank of the West offers both Flexible- Term and Premium CDs. For Flexible- Term CDs, terms range from 32 to 364 days or 12 months to five times. Terms for Premium CDs are 91 days to 60 months. One of the better options is a 13-month CD that pays a0.20 APY.
The minimal opening deposit is$ for Flexible- Term CDs and$ for Premium CDs. The APY on Flexible- Term CDs ranges from0.02 to0.15 as ofDec. 12, 2021, depending on the term. For Premium CDs, the APY ranges from0.02 to0.25 APY.
How Bank of the West Earned its Scores
Then’s a breakdown of the different factors that comprised GOBankingRates’ scoring.
Client Service
Bank of the West offers multitudinous options to get questions answered or check up on your account, including a devoted Client Service runner on itswebsite.However, the bank’s call center is open seven days a week and utmost leaves, If you prefer to talk with someone in person.
Breadth of Products
Indeed though it’s considered a indigenous bank, Bank of the West offers a full lineup of deposit accounts for individualities and businesses, as well as loans, credit cards and investment options.
Banking Experience
Bank of the West offers a variety of ways to conduct your business, including at physical branches, online and in the mobile app. Branches are limited to the bank’s service area in 19 countries, but mobile and online banking make it possible to complete deals and cover accounts from anywhere.
Rates
With a low APY on its savings accounts, Bank of the West ca n’t contend with banks that offer high- yield accounts with APYs of0.40 and advanced. Its Plutocrat Request account offers better interest rates, with an APY as high as0.12. CD rates are indeed more, ranging as high as0.25.
Bank of the West vs. Challengers
Before deciding on a bank, it’s always a good idea to see how it heaps up against the rest of the field. Then’s a look at how Bank of the West compares to some of its challengers
Bank of the West vs. Bank of America
Bank of America offers top- league savings accounts that let you earn a advanced APY than you would at Bank of the West. Both banks give you options to avoid conservation freights. Guests in Bank of the West’s service area might find its community banking style to their relish, but if you live outside the service area, Bank of America’s wider reach gives it a leg up.
Bank of the West vs. Wells Fargo
Wells Fargo has the edge if you prefer in- branch banking because it has a advanced number of physical locales throughout the country, but Bank of the West offers a advanced APY on its CDs.
Bank of the West vs. Chase
Both Bank of the West and Chase let you waive conservation freights on their introductory checking accounts, but Bank of the West makes it easier by not taking a minimal deposit quantum. Chase wins, however, if you need access to branches and ATMs outside Bank of the West’s service area.
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