Bank of the West
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 0.80% | 5-year CD | 60 Month Premium Money Market CD 2.40% - Goldman Sachs Bank USA 5 Year CD |
| 0.11% | 1-year CD | 10 Month Premium Money Market CD |
| 0.01% | Savings | Classic Savings |
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
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
Excellent Customer Service
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.
Banking at Bank of the West
From the time I opened my first checking out I have used four different banks. From being a high school student, being married, moving states and becoming separated. I have opened accounts at different times in my life. This last time I found myself in a very emotional state and had to open an account with Bank of the West. The customer service was fantastic from the moment I walked into the door. They took the time to greet me and point me in the direction I needed to go. After I picked the plan I wanted for my checking they explained to me the benefits and cost of my checking account. Then they helped me set up my online banking to make balancing, withdrawing, paying bills and depositing easier. Within days I had my pin number and debit card in the mail and had easy acces to signing up.
BOTW Review
I have been banking with Bank of The West for nearly three years now. Their system is sufficient for me but I am admittedly a low maintenance banker. The main thing I look for in a bank is a bank with outstanding customer service and an efficient online banking system. Another thing that is important when choosing a bank for me is accountability and ethical track record. For instance, I would never give my business to a bank with a previous history of ethical violations (like the recent Wells Fargo scandal). If it was revealed that my bank had done so, I would find another bank. Opening an account at BOTW was easy and took only 30 minutes or so. Their customer service attendants were kind and didn't seem pushy. One thing that they could improve on is more abundant ATMs, as it is difficult to find a BOTW ATM. Overall, I am pleased with BOTW at this point in time.
Bank Is Difficult To Use, Has Lots Of Fees, And Have Policies To Cause You To Forfeit Your Interest Earnings
Bank of the West is extremely slow, and painful to work with. To begin with, it took almost a week of determined effort for me to just open an online account. I made the effort only because I needed to use a particular branch in a small town where I was doing some business. Otherwise, I would have given up.
They have LOTS of fees of all kinds, and those are difficult to keep track of.
If you close your account, make sure you ask about when the interest accrued in the account will be posted. If you close the account before the posting date, ALL your interest is forfeited for the entire period. The bank representative closing the account will not warn you about that.
Data as of Q2 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 3514 |
| Year Established | 1874 |
| Employees | 10094 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.61% |
| Return on Equity - YTD | 4.27% |
| Annual Interest Income | $1.30B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2017vs Q2 2016 | $86.91B$80.46B |
| Loans | Q2 2017vs Q2 2016 | $59.71B$55.88B |
| Deposits | Q2 2017vs Q2 2016 | $64.08B$57.57B |
| Equity Capital | Q2 2017vs Q2 2016 | $12.21B$12.48B |
| Loan Loss Allowance | Q2 2017vs Q2 2016 | $604.1MM$577.5MM |
| Unbacked Noncurrent Loans | Q2 2017vs Q2 2016 | $348.6MM$295.9MM |
| Real Estate Owned | Q2 2017vs Q2 2016 | $18.2MM$13.7MM |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.01%† | - | - | Classic Savings |
Bank of the West Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.25%*† | $50k* | $250k | Choice Money Market w/ Signature or BotW Premier Checking - Relationship | ||
| OTHER TIERS: 0.04% → Up to $10k | 0.13% → $10k - $25k | 0.14% → $500k+ | 0.16% → $25k - $50k | 0.18% → $250k - $500k | |||||
| 0.18%*† | $50k* | $250k | Choice Money Market w/ Signature or BottW Premier Checking - Relationship Premium | ||
| OTHER TIERS: 0.02% → Up to $10k | 0.03% → $1mm+ | 0.04% → $500k - $1mm | 0.08% → $250k - $500k | 0.09% → $10k - $25k | 0.11% → $25k - $50k | |||||
| 0.17%*† | $100k* | $250k | Choice Money Market w/ Checking - Relationship | ||
| OTHER TIERS: 0.04% → Up to $10k | 0.11% → $10k - $50k | 0.14% → $50k+ | 0.16% → $250k - $500k | |||||
| 0.11%*† | $1m* | - | Choice Money Market w/ Signature or BotW Premier Checking - Standard | ||
| OTHER TIERS: 0.02% → Up to $10k | 0.04% → $10k - $25k | 0.05% → $25k - $50k | 0.07% → $50k - $250k | 0.10% → $250k - $1mm | |||||
| 0.11%*† | $1m* | - | Choice Money Market w/ Checking - Standard | ||
| OTHER TIERS: 0.02% → Up to $10k | 0.04% → $10k - $25k | 0.05% → $25k - $50k | 0.07% → $50k - $250k | 0.10% → $250k - $1mm | |||||
| 0.10%*† | $100k* | $250k | Choice Money Market w/ Checking - Relationship Premium | ||
| OTHER TIERS: 0.02% → Up to $10k | 0.03% → $1mm+ | 0.04% → $500k - $1mm | 0.06% → $25k - $500k | 0.07% → $10k - $100k | |||||
Bank of the West Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.02%*† | $50k* | - | Bank of the West Premier Checking | ||
| OTHER TIERS: 0.01% → Up to $50k | |||||
| 0.01%† | - | - | Choice Interest Checking | ||
Bank of the West CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.80%† | $2,500 | - | 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%† | $2,500 | - | 24 Month Premium Money Market CD | |
| 0.27%† | $2,500 | - | 18 Month Premium Money Market CD | |
| 0.20%† | $2,500 | - | 15 Month Premium Money Market CD | |
| 0.20%† | $2,500 | - | 12 Month Relationship CD | |
| 0.15%† | $2,500 | - | 13 Month Premium Money Market CD | |
| 0.12%† | $1k | - | 12 - 23 Month Flexible Term CD | |
| 0.12%† | $2,500 | - | 12 Month Premium Money Market CD | |
| 0.11%† | $2,500 | - | 8 Month Premium Money Market CD | |
| 0.11%† | $2,500 | - | 10 Month Premium Money Market CD | |
| 0.09%† | $1k | - | 180 - 364 Day Flexible Term CD | |
| 0.09%† | $2,500 | - | 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%† | $2,500 | - | 91 Day Premium Money Market CD |
Bank of the West IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 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 |
