Bank of the West


Overview / Commentary
415-765-4886
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: |

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.

The Worst Bank Ever

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The absolute worst bank ever. Tax forms are not online. Calling involves a wait of at least 45 minutes to an hour. You will definitely live a longer life and be happier if you never, ever have anything to do with this bank. Wells Fargo is 1000X better. Customer service is great when they finally answer after about an hour.

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Health
A+

Health Grade Components

Overall
FDIC Certificate #3514
Year Established1874
Employees9261
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.61%
Return on Equity - YTD4.35%
Annual Interest Income$2.76B
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$96.06B$92.97B
LoansQ4 2020vs Q4 2019$59.82B$62.07B
DepositsQ4 2020vs Q4 2019$79.78B$70.48B
Equity CapitalQ4 2020vs Q4 2019$14.03B$12.87B
Loan Loss AllowanceQ4 2020vs Q4 2019$841.6MM$617.5MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$485.7MM$335.4MM
Real Estate OwnedQ4 2020vs Q4 2019$8.5MM$8.0MM
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.01%--Classic Savings

Bank of the West Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$50k*$250kCMMS w/ Premier Relationship - New Accounts
OTHER TIERS: 0.04% Up to $10k | 0.09% $10k+ | 0.10% $25k - $50k
0.09%*$50k*$250kCMMS w/ Relationship - New Accounts
OTHER TIERS: 0.04% Up to $10k | 0.06% $10k+ | 0.07% $25k - $50k
0.03%*$25k*-CMMS Standard - New Accounts
OTHER TIERS: 0.02% Up to $25k

Bank of the West Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.01%--Bank of the West Premier Checking

Bank of the West CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%$2.5k-60 Month Premium Money Market CD
0.25%$1k-48 - 60 Month Flexible Term CD
0.25%$2.5k-13 Month Premium Money Market CD
0.20%$1k-36 - 47 Month Flexible Term CD
0.15%$1k-24 - 35 Month Flexible Term CD
0.15%$2.5k-24 Month Premium Money Market CD
0.12%$2.5k-18 Month Premium Money Market CD
0.10%$2.5k-15 Month Premium Money Market CD
0.10%$2.5k-14 Month Premium Money Market CD
0.10%$2.5k-16 Month Premium Money Market CD
0.05%$1k-12 - 23 Month Flexible Term CD
0.05%$2.5k-12 Month Premium Money Market CD
0.04%$25k-11 Month Premium Money Market CD Special - New Money
0.04%$2.5k$25k11 Month Premium Money Market CD
0.03%$2.5k-8 Month Premium Money Market CD
0.03%$2.5k-10 Month Premium Money Market CD
0.03%$2.5k-7 Month Premium Money Market CD
0.02%$1k-32 - 89 Day Flexible Term CD
0.02%$1k-90 - 179 Day Flexible Term CD
0.02%$1k-180 - 364 Day Flexible Term CD
0.02%$2.5k-91 Day Premium Money Market CD
0.02%$2.5k-182 Day Premium Money Market CD
0.02%$2.5k-5 Month Premium Money Market CD

Bank of the West IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$100-48- 60 Month Flexible IRA
0.15%$100-24- 35 Month Flexible IRA
0.15%$100-24 Month Premium Money Market IRA
0.12%$100-18 Month Premium Money Market IRA
0.05%$100-12- 23 Month Flexible IRA
0.05%$100-12 Month Premium Money Market IRA
0.05%$100-12 Month IRA Add On
0.03%$100-182 Day Premium Money Market IRA
0.03%$100-8 Month Premium Money Market IRA
0.02%$100-91 Day Premium Money Market IRA
Locations

Availability

San Francisco Bay Area

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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.