Bank of the West is headquartered in San Francisco, California, and is one of the 50 largest banks in the United States. It operates through hundreds of retail and commercial locations across the country and offers a range of products and services.
On its Personal Banking side, Bank of the West offers the standard deposit accounts: Checking, Savings, CDs, and Money Markets. Its five different checking accounts vary in terms and requirements and all have a monthly service charge except for the 55 Plus Checking account. The bank offers opportunities to waive or reduce the monthly service charge by performing certain tasks like signing up for paperless statements. Its Choice Interest Checking account offers typically low interest rates. There are two Savings Account offerings – Online Savings and Classic Savings – and both come with a monthly service fee that can be waived by keeping a minimum account balance.
Bank of the West also offers a Money Market account that offers variable interest rates based on account balances. This account must be opened at a branch and comes with a monthly service charge that can be waived. It also offers CDs (Certificates of Deposit) with a variety of term lengths, from 7 days to 5 years. Interest rates on all of its deposit accounts are usually lower than the national average.
Bank of the West is held by BancWest Corporation, which is wholly owned by BNP Paribas. It also offers credit cards, loans, investment management, and retirement management services to its customers. Bank of the West online banking and mobile platforms offer personal account management via smartphone and tablet apps, mobile web, and text banking. These sophisticated platforms allow customers to transfer funds, pay bills, and manage their accounts quickly and easily. On Bank of the West’s commercial and small business sides, it offers banking solutions tailored to specific industries such as Agribusiness, Religious Institution, Healthcare, Real Estate, Title & Escrow, Financial Institutions, and Government Banking.
Bank of the West began in 1874 as Farmers National Gold Bank, nearly two decades after the culmination of the California gold rush. It changed its name once in 1880 to First National Bank of San Jose before finally transitioning to become Bank of the West in 1979.
I opened a checking account with BOTW 2 years ago. Initially no issues. Low fees for transactions and withdrawals. Nice staff inside locations. However, atms in my area are often out of work. Mobile app has been a pain. Does not work, crashes frequently, not too user friendly. The products are competetive but sometimea I wonder if going with a larger bank rather than a local one would be more convenient.
My experience with Bank of the West has been less than stellar. You are just a number in their system without any personalization to your account. The only thing that is seems they care about is that you have money in your account and are making transactions. Their mobile experience is fine but they seem to be the last of the bigger banks to implement any new technology. They have mobile deposits now but it was a year or 2 after all the other banks have rolled it out. They still are not reimbursing for ATM fees which seems to have become the norm for a lot of other banks. The only reason I have not switched is because it would be such a hassle switching over all my auto payments to a new account and I don't deal in cash too often to the ATM fees is not a big deal. Once I get some free time to take care of everything and tie up loose ends, I will be moving on from Bank of the West.
They allowed a skimmed card to be used over 3 days and continued to approve transactions even after the account was negative 1000.00 The branch manager was VERY rude and dismissive on the phone. The lady in the office actually got up and walked away from me mid sentence. They also charged me 600 in overdraft fees. Manager also said he was going to cancel the card that was skimmed and did in fact NOT do that and the card was used again. Oh and they charge THIRTY FIVE DOLLARS for overdraft fee's
THIS BANK IS A FRAUD AND SHOULD BE PROSECUTED.
This bank is so honest, helpful and caring. All the clerks are so kind and make me feel at home when I go to the bank. Just a note, there are two savings account to choose from, Online Savings and Classic Savings. I found Online Savings to be a much better option
Overall | |
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FDIC Certificate # | 3514 |
Year Established | 1874 |
Employees | 8868 |
Primary Regulator | FDIC |
Profit Margin | |
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Return on Assets - YTD | 0.87% |
Return on Equity - YTD | 6.82% |
Annual Interest Income | $1.24B |
Assets and Liabilities | ||
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Assets | Q2 2022vs Q2 2021 | $94.49B$99.18B |
Loans | Q2 2022vs Q2 2021 | $58.30B$57.04B |
Deposits | Q2 2022vs Q2 2021 | $80.09B$83.44B |
Equity Capital | Q2 2022vs Q2 2021 | $11.18B$13.79B |
Loan Loss Allowance | Q2 2022vs Q2 2021 | $614.2MM$796.3MM |
Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $315.4MM$506.2MM |
Real Estate Owned | Q2 2022vs Q2 2021 | $4.9MM$8.2MM |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
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0.01% | - | - | Classic Savings |