Western Alliance Bank


Overview / Commentary
602-389-3500
1 E Washington St
Phoenix, AZ 85004

Western Alliance Bank is headquartered in PHOENIX and is the largest bank in the state of Arizona. It is also the 39th largest bank in the nation. It was established in 2003 and as of December of 2023, it had grown to 3,309 employees at 38 locations. Western Alliance Bank's savings rates are 10X the national average, and it has a B health rating.

Related Posts

High-Yield Savings Premier 5.36% APY - 4/7/2024

High-Yield Savings Premier 5.36% APY. This bank is not listed on DA savings list. https://www.westernalliancebancorporation.com/high-yield-savings-premier#3159568222-1361857810 Account can be opened directly at WAB 1. 5.36% annual percentage yield (APY) is accurate as of 1/17/2024 and subject to change at the Bank’s discretion. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY. 2. Accurate as of the time of publication. The national average rate referenced is from the FDIC’s published National Rates and Rate Caps for Savings deposit products, accurate as of 3/18/2024. See the FDIC website for more information. 3. No account activity or maintenance fees. 4. Funds received by ACH transfer initiated from the designated linked account to your account will generally be available five (5) business days for withdr

Rate Hike Here Savings Rate Now @ 5.32% Was 5.21% - 1/2/2024

Western Alliance Bank rate hike is on raisin.com website

Rate Cut Savings Account To 5.21% - 12/20/2023

Was 5.26% rate cut to 5.21% on savings account on raisin.com

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Western Alliance Offers 5.36% APY HYSA

Posted by: |

I am a customer of Western Alliance. For those interested, here is a link to their current HYSA. It is ACH in and out only. No wire transfers. So, if your child is kidnapped, and you need to pay the ransom pronto, this ain't for you. Otherwise, enjoy the yield.

https://www.westernalliancebancorporation.com/personal-banking/high-yield-savings-account

Fast Deposit Transfer

Posted by: |

I opened a high yield savings with W.A. through Savebetter.
Transfer was visible and deposited in 2 days, still awaiting for available funds (it has only been 2 business days). The website stated no transfer limitations, I called Wester Alliance, they transferred me to the Savebetter dept, and they verified they do not have a daily/monthly limit for external transfer withdrawals. currently @ 4.23%

Edit. Available funds took 3 business days.

2/10/23 - up to 4.35% I did an external withdrawal transfer and it was deposited into my bank account in 2 days

On Some Banks To Watch Out Lists

Posted by: |

Western Alliance probably will pull through. Please note in the banking/finance/investing blogs some people seem to believe it could follow down the 2 bad California banks of this year so far. I hope not.

Not As Advertised

Posted by: |

Western Alliance Bank -- Here are some fun facts not presented explicitly during the process of making a deposit. You are not making a deposit to your newly created WAB account. You are moving funds to a SaveBetter.com account with no routing or account numbers, only some internal identification number. WAB does not allow new accounts to be created online, but only at the physical branches. WAB claims that this is being done with their knowledge and apparent consent. Regardless of the actual or perceived safety of this arrangement, I will not trust any organization that encourages the movement of large sums of money without making all of the most important information plainly, explicitly obvious to all users. If they will engage in slight of hand tricks with one thing, they will most assuredly take similar liberties with other things, perhaps even your balance. The high rate is a pretty lure, but the hook is questionable. I have initiated a transfer back to the originating account. Soon we will see how deeply the hook was set.

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Health

Health Grade Components

Overall
FDIC Certificate #57512
Year Established2003
Employees3309
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.99%
Return on Equity - YTD11.5%
Annual Interest Income$4.02B
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$70.85B$67.68B
LoansQ4 2023vs Q4 2022$51.56B$53.26B
DepositsQ4 2023vs Q4 2022$55.69B$53.92B
Equity CapitalQ4 2023vs Q4 2022$6.35B$5.72B
Loan Loss AllowanceQ4 2023vs Q4 2022$336.7MM$309.7MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$314.1MM$83.6MM
Real Estate OwnedQ4 2023vs Q4 2022$8.2MM$11.2MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Western Alliance Bank; we are a rate comparison website and cannot provide official rates or promotions.

Western Alliance Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.36%--High-Yield Savings Premier
5.22%$1-High Yield Savings Account by Raisin

Western Alliance Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.30%$1-5 Month CD by Raisin
5.26%$1-3 Month CD by Raisin
5.23%$1-6 Month CD by Raisin
5.15%$1-9 Month CD by Raisin
5.05%$1-12 Month CD by Raisin
Locations

Availability

Phoenix Area

Interactive local rates map


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