Bank of the West Review: Checking, Savings and CDs

Spencer TierneyMarch 14, 2018

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Overall bank rating

Bank of the West

    3.5

    NerdWallet rating 

    The bottom line:

    You won't pay a lot to use Bank of the West's basic checking and savings accounts: Opening deposits are low, and you can waive monthly fees by receiving a single deposit each statement cycle or maintaining a minimum balance. Fees are also waived for younger customers.

     

    But you won't get a lot back, either. Rates on savings and CDs are above average, but not as high as you'd find with online competitors. And you might have a hard time finding a branch: The bank operates almost entirely in Western states, and some states have only a handful of branches. You'll have the best shot at a location nearby if you live in California.

     

    Best if: You live in California, and you're looking for an inexpensive checking account.

     

    » Want higher yields? Check out NerdWallet's favorite high-yield online savings accounts.

    Pros

    • Easy-to-waive monthly fees and low minimum opening deposits on basic accounts.

    • Can have one overdraft fee waived every 12 months by request.

    Cons

    • Low interest rates on savings and CDs.

    • Limited branches and ATM network.

    RATING METHODOLOGY

    NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.