Bank of Hawaii is the primary subsidiary of Bank of Hawaii Corporation, a regional financial services company. Bank of Hawaii Corporation and its subsidiaries provide varied financial services to businesses, consumers and governments in Hawaii, American Samoa and the Pacific Islands. The company is listed on the New York Stock Exchange as "BOH." In the community, Bank of Hawaii is also affectionately known as "Bankoh."
I have used Bank of Hawaii for basic banking needs without difficulty such as savings, ATM, etc. The ATM has been out of order sometimes or has long lines. Their branches are located in convenient locations and the ATMs can be found in lots of different places like fast food restaurants. Their customer service is only average and not one of their better benefits. I really like Bank of Hawaii and cannot see us changing banks for our day-to-day needs.
Like many local banks what they do more than the big banks is provide great customer service. My first experience with them was for a checking account. I was looking for one that provided an interest rate like anyone else in the world but they didnt provide one. They did give me free check though and was also set up with a savings account because they had an offer of a free $50 credit to my account if I opened one so why not! Their mobile app is not very good. It reminds me of websites back when the web first came out in the 1990's. As soon as I had seen how outdated the fonts and other graphics were I was immediately turned away and have never used it since. People associate old and outdated software with something that doesn't work or that they didn't really don't care to give you a good product.
Bank of Hawaii (B)H) is a staple financial institution throughout the state of Hawaii. The very first account opened under my name (by my mother) was BOH, as was the same with my three siblings. I guess you could say that is the bank that my family most trusts. I started off with a savings account, at the minimum and up until age 20, my mom added small increments. When I hit 20, I was employed and took over the account, and so decided to add a checking account too since I was now out and about in the world. I've lost my debit card a great many times from a couple trips to the bars as a 20-something year old, and have called BOH at late hours to report it, and received fantastic, prompt customer service with a live person. I also am an active user of the BOH Mobile app. I loved cashing checks through it. However, I was disappointed upon realizing last month that the feature was removed from it. Thankfully, many of their ATMs are now equipped with check deposits. Overall, I've been satisfied with my experience with BOH.
Bank of Hawaii has a high number of clients and has a lot of great services: quick deposits without envelopes at the ATMs, easy online banking,card-less cash as well as other services such as Notary Public. However, they don't ever have enough tellers. They usually only have two tellers open for regular accounts during high traffic times, such as Fridays (pay day), lunch time or at the end of the day when most people usually get off work. The line can reach all the way outside of the bank. They have wonderful tellers with great customer service, just not enough of them. They are friendly and personal with me. It's nice being recognized and greeted as they always remember my face. I just can't handle the extremely large lines. Also, one of the two ATMs for use after hours in out of service. Because of this, I am finding myself heading over to another local bank. Sad because they are so conveniently close to me.
I use this bank to deposit my paychecks from my office (we are only paid in checks) since this office banks with Bank of Hawaii and the transfers are immediate if you have a Bank of Hawaii account. I have a savings account with Bank of Hawaii which I mainly use. I used to have a checking account but closed it after finding out the minimum balance required in the checking account is $100 otherwise they give you a fee, which I think is ridiculous. So I closed my checking account and only have a savings account now.
Lawsuit claims Bank of Hawaii rearranged debit card transactions to maximize overdrafts
Bank of Hawaii has been sued by customers alleging the bank used "unfair and deceptive overdraft fee practices."
The complaint, filed as a class action Tuesday in state Circuit Court on behalf of Honolulu residents Lodley and Tehani Taulava, accuses Bank of Hawaii of engaging in a systematic policy of re-ordering debit card transactions from highest dollar amount to lowest dollar amount. The suit said this practice allowed the bank to deplete the customer's available funds as quickly as possible while maximizing the number of overdraft fees.
Bank of Hawaii spokes-man Stafford Kiguchi said yesterday that the bank changed its policy last month and now generally posts transactions from lowest dollar amount to highest. "This minimizes overdraft fees paid by customers," Kiguchi said.
The suit cited an example involving the Taulavas in which they were charged four overdraft fees of $26 each, or a total of $104, from debits that were posted on the same day (Aug. 18, 2010). The Taulavas had five transactions that day, including an ATM withdrawal, totaling $115.11. The debits were processed from highest to lowest. The suit said that if the bank had processed the transactions from lowest to highest or chronologically (based on time of day), the Taulavas would have been assessed only one overdraft fee of $26.
"Banks should not be allowed to gouge customers by unfairly manipulating the manner in which transactions are posted and overdrafts are charged," said John Perkin, a partner with Perkin & Faria LLLC, which represents the plaintiffs. "Such practices make it more difficult for thousands of Hawaii families to make ends meet. We are continuing to investigate other banks in Hawaii."
Kiguchi said the bank is aware of customers' concerns about overdraft fees. He said that until the bank changed its policy that this had been a common practice based on the belief that the higher debits were someone's mortgage, tuition or car payments.
Kiguchi said there are also many other ways customers can avoid overdraft fees.
"To ensure that customers know how much money they have to spend without overdrawing their account, Bank of Hawaii provides account balances through Internet banking, mobile banking, Bankoh by Phone and at ATMs," Kiguchi said.
"The bank provides ways to avoid having transactions denied and offers customers the ability to avoid overdrafts by linking a line of credit or savings account to their checking account."
This is the first such lawsuit against a Hawaii bank, but several mainland banks were recently sued over similar practices, Perkin & Faria said in a news release.
In August 2010, a California judge awarded Wells Fargo customers in that state $203 million in damages related to the bank's overdraft fee practices. Last month, a judge in Washington, D.C., approved a settlement in which National City Bank agreed to pay its customers $12.5 million. Earlier this month, Bank of America agreed to pay its customers $410 million.
The three mainland firms that are assisting Perkin & Faria in the Honolulu suit — Tycko & Zavareei LLP, Kopelowitz Ostrow and Chitwood Harley Harnes LLP — also were involved in one or all of those other recent settlements.
|FDIC Certificate #||18053|
|Return on Assets - YTD||1.37%|
|Return on Equity - YTD||19.76%|
|Annual Interest Income||$146.8MM|
|Assets and Liabilities|
|Assets||Q1 2019vs Q1 2018||$17.42B$17.11B|
|Loans||Q1 2019vs Q1 2018||$10.46B$9.83B|
|Deposits||Q1 2019vs Q1 2018||$15.31B$15.00B|
|Equity Capital||Q1 2019vs Q1 2018||$1.20B$1.17B|
|Loan Loss Allowance||Q1 2019vs Q1 2018||$106.0MM$107.9MM|
|Unbacked Noncurrent Loans||Q1 2019vs Q1 2018||$20.7MM$21.0MM|
|Real Estate Owned||Q1 2019vs Q1 2018||$3.2MM$2.8MM|
Rates for Bank of Hawaii are currently being reviewed.