Bank of the West

Overview / Commentary
295 Bush Street
San Francisco, CA 94104

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.

Related Posts

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2/5/14 - Bank of the West Checking Account Bonuses Return - Certain States Only
7/29/13 - Another Bank of the West Checking Account Bonus - Certain States Only
7/29/13 - History of Bank of the West Promotion Bonus Payouts
2/5/13 - Another $150 Checking Bonus at Bank of the West - Certain States Only
1/22/13 - $150 Checking Account Bonus At 3 Los Angeles Bank Of The West Branches
7/31/12 - Bank of the West's $150 & $200 Checking Account Bonuses - Certain States Only
3/28/12 - Competitive 5-Year CD Rate at Bank of the West in Some States
3/19/12 - Bank of the West's Checking Account Bonus - Certain States Only
1/10/12 - Bank of the West Ends its Free Checking Account
8/8/11 - Bank of the West's $100 Checking Account Bonus - Certain States Only
4/3/11 - Bank Of The West $100 Checking Account Bonus
2/13/11 - Bank of the West's $100 Checking Account Bonus
12/23/10 - Bank Of The West - Ipod Touch Arrives Just In Time For Christmas!
11/26/10 - Update - Bank Of The West Ipod Deal
10/6/10 - iPod touch Promotion Problem At Bank Of The West
8/16/10 - Bank Of The West Ipod Touch Checking Promotion Update
7/19/10 - iPod touch Checking Account Promotion at Bank of the West - Certain States Only
7/18/10 - Bank of the West's $100 Checking Account Bonus - Certain States Only
3/10/10 - Update on Bank of the West Checking Account Bonus, Free ATMs and Online Savings Account
2/5/10 - Bank of the West Cuts Online Savings Account Rate
1/14/10 - $100 Checking Account Bonus and an Online Savings Account at Bank of the West - Update
11/6/09 - Update on Bank of the West $100 Checking Account Promotion
11/2/09 - $100 Checking Account Bonus and an Online Savings Account at Bank of the West
5/1/09 - $100 Checking Account / Direct Deposit Bonus at Bank of the West in Several States
9/11/08 - $100 Checking Account Bonus at Bank of the West

Excellent Customer Service

Posted by: norcal | Jul 3, 2017

Very much a traditional bank. Even though it's a major regional chain, the branches have a very friendly feel. Staff is empowered to help you with whatever you need. Deposit accounts are pretty much standard, with relatively low interest rates to match. Probably best for everyday banking and the wide range of services that a bank can offer.

Nice feature: Bank of the West ATMs give both $5 and $20 bills.

Bank of the west

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.

Bank of the West - Too much of a hassle to switch

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.

Taking My Business Elsewhere

Posted by: Tenille | Oct 29, 2018

I have had nothing but problems with this bank since opening my account in November of 2017. I decided to stick it out to see if it would get better but today has proved me wrong. I know I'm only a small fish in their pond but my business means something to me. All business should be equally as important to them but unfortunately that is not the case.My first issue was when my account was fraudulently breached. I had to pay for a mistake (a very costly one) I did not make. Now moving forward to present I have deposited money to cover unexpected or forgotten transactions but BOTW still rejects the transactions and charges me $35.00 every time for every transaction. Even though I've deposited the cash thy say it's not there and tells me to deposit more. It's funny that I can see the deposit on my mobile account and online but they say it's not there. So again I'm charged $35.00. It's ridiculous. It's even more ridiculous getting customer service to treat customers with dignity and respect. Instead they choose to try and make me feel as if I've done something wrong and I have not. I would not recommend this bank to anyone and if you are already banking there I would suggest looking into other options.



Health Grade Components

FDIC Certificate #3514
Year Established1874
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.78%
Return on Equity - YTD5.76%
Annual Interest Income$3.04B
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$87.39B$89.77B
LoansQ4 2018vs Q4 2017$61.95B$60.49B
DepositsQ4 2018vs Q4 2017$66.30B$69.66B
Equity CapitalQ4 2018vs Q4 2017$12.19B$12.13B
Loan Loss AllowanceQ4 2018vs Q4 2017$613.0MM$620.8MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$277.5MM$312.0MM
Real Estate OwnedQ4 2018vs Q4 2017$7.6MM$6.3MM
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Always verify rates and promotions with the bank or credit union. We are not Bank of the West; we are a rate comparison website and cannot provide official rates or promotions.

* 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.

Bank of the West Savings Account Rates

0.01%--Classic Savings

Bank of the West Money Market Rates

0.36%*$1m*-Choice Money Market w/ Checking - Standard
OTHER TIERS: 0.05% Up to $10k | 0.29% $10k - $25k | 0.30% $25k - $50k | 0.32% $50k - $250k | 0.35% $250k - $1m

Bank of the West Checking Account Rates

0.02%*$25k*-Bank of the West Premier Checking
OTHER TIERS: 0.01% Up to $25k

Bank of the West CD Rates

2.50%$25k-14 Month Premium Money Market CD Special
2.10%$2.5k-16 Month Premium Money Market CD
0.80%$2.5k-60 Month Premium Money Market CD
0.65%$1k-48 - 60 Month Flexible Term CD
0.55%$1k-36 - 47 Month Flexible Term CD
0.45%$1k-24 - 35 Month Flexible Term CD
0.45%$2.5k-24 Month Premium Money Market CD
0.27%$2.5k-18 Month Premium Money Market CD
0.20%$2.5k-15 Month Premium Money Market CD
0.20%$2.5k-12 Month Relationship CD
0.15%$2.5k-13 Month Premium Money Market CD
0.15%$2.5k$25k14 Month Premium Money Market CD
0.12%$1k-12 - 23 Month Flexible Term CD
0.12%$2.5k-12 Month Premium Money Market CD
0.11%$2.5k-8 Month Premium Money Market CD
0.11%$2.5k-10 Month Premium Money Market CD
0.09%$1k-180 - 364 Day Flexible Term CD
0.09%$2.5k-182 Day Premium Money Market CD
0.05%$1k-32 - 89 Day Flexible Term CD
0.03%$1k-90 - 179 Day Flexible Term CD
0.03%$2.5k-91 Day Premium Money Market CD

Bank of the West IRA Rates

0.65%$100-48- 60 Month Flexible IRA
0.45%$100-24- 35 Month Flexible IRA
0.45%$100-24 Month Premium Money Market IRA
0.27%$100-18 Month Premium Money Market IRA
0.12%$100-12- 23 Month Flexible IRA
0.12%$100-12 Month Premium Money Market IRA
0.12%$100-12 Month IRA Add On
0.11%$100-8 Month Premium Money Market IRA
0.09%$100-182 Day Premium Money Market IRA
0.03%$100-91 Day Premium Money Market IRA


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