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On This Page
- At a glance
- Overall
- East West Bank products
- Bank fees
- Customer experience
- About East West Bank
- Review Methodology
At a glance
3.3
Rating: 3.3 stars out of 5
Bankrate Score
CDs
Rating: 4.2 stars out of 5
Checking
Rating: 3.7 stars out of 5
Savings
Rating: 2 stars out of 5
MMA
Rating: 1.8 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
About Bankrate Score
Overview
East West Bank is best for customers on the West Coast. Its highly-rated app makes online and mobile banking a breeze, making the checking account a particularly attractive option. However, customers looking to grow their savings should look elsewhere, as the interest rates offered at this bank are extremely low.
Highlights
- Highly Rated App
Sponsored offers
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
About our Sponsored Offers
Our list of sponsored accounts may offer competitive rates, multiple times higher than the national average. All of these offers have FDIC or NCUA insurance, have competitive minimums and few fees. We’ve vetted the credit worthiness of these banks to simplify your search.
Member FDIC
Savings Account
4.25
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 9/15/2024
Rating: 4.9 stars out of 5
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer:
American Express
Member FDIC
Savings Account Details
4.25
%
APY
$0
Min balance for APY
Offer rate as of9/15/2024
Interest rate4.16%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC.
Savings Account
5.25
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 9/15/2024
Rating: 5 stars out of 5
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer: No fees. Easy deposits and quick withdrawals.
Jenius Bank
Member FDIC.
Savings Account Details
5.25
%
APY
$0
Min balance for APY
Offer rate as of9/15/2024
Interest rate5.25%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
No fees. Easy deposits and quick withdrawals.
Member FDIC
Savings Account
5.30
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 9/15/2024
Rating: 4.9 stars out of 5
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer: Earn our LevelUp rate with $250 in monthly deposits, plus no fees.
LendingClub
Member FDIC
Savings Account Details
5.30
%
APY
$0
Min balance for APY
Offer rate as of9/15/2024
Interest rate5.18%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Earn our LevelUp rate with $250 in monthly deposits, plus no fees.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
Savings Account
4.9
Rating: 4.9 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
4.25
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 9/15/2024
$0
Min. balance for APY
Promoted offer
American Express
Member FDIC
Savings Account Details
4.25
%
APY
$0
Min balance for APY
Offer rate as of9/15/2024
Interest rate4.16%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC.
Savings Account
5.0
Rating: 5 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
5.25
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 9/15/2024
$0
Min. balance for APY
Promoted offer: No fees. Easy deposits and quick withdrawals.
Jenius Bank
Member FDIC.
Savings Account Details
5.25
%
APY
$0
Min balance for APY
Offer rate as of9/15/2024
Interest rate5.25%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
No fees. Easy deposits and quick withdrawals.
Member FDIC
Savings Account
4.9
Rating: 4.9 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
5.30
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 9/15/2024
$0
Min. balance for APY
Promoted offer: Earn our LevelUp rate with $250 in monthly deposits, plus no fees.
LendingClub
Member FDIC
Savings Account Details
5.30
%
APY
$0
Min balance for APY
Offer rate as of9/15/2024
Interest rate5.18%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Earn our LevelUp rate with $250 in monthly deposits, plus no fees.
Member FDIC
Savings Account
4.7
Rating: 4.7 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
4.40
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 9/15/2024
$0
Min. balance for APY
Promoted offer
Marcus by Goldman Sachs
Member FDIC
Savings Account Details
4.40
%
APY
$0
Min balance for APY
Offer rate as of9/15/2024
Interest rate4.40%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC
Savings Account
4.9
Rating: 4.9 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
4.25
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 9/15/2024
$0
Min. balance for APY
Promoted offer: It only takes about 5 minutes to open a fee-free account.
Capital One
Member FDIC
Savings Account Details
4.25
%
APY
$0
Min balance for APY
Offer rate as of9/15/2024
Interest rate4.25%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
It only takes about 5 minutes to open a fee-free account.
Overall
East West Bank is a California-based institution with a large ATM network, so even if you don’t live on the West Coast, you’ll have easy and free access to your money. However, customers looking to grow their savings won’t find much help here, as rates at East West Bank are well below the national average.
Pros
East West Bank customers have surcharge-free access to AllPoint and MoneyPass ATMs.
East West Bank has a large branch network.
The iOS and Android apps are highly rated by users.
Cons
APYs for all consumer deposit accounts are extremely low.
We want to know what you think about East West Bank
Do you have experience with East West Bank? Let us know your thoughts.
East West Bank banking products
2.0
Rating: 2 stars out of 5
Bankrate Score
Compare top savings rates
FEATURES
East West Bank savings overview
East West Bank’s Premier Savings account can be opened with just $100. There’s a $3 monthly maintenance fee, but that can be waived if you maintain at least a $2,500 monthly average balance or if you had a $10,000 average balance across other East West Bank accounts in the prior month.
The account is tiered, meaning the more money you deposit, the higher the interest rate you can earn. Although this account is easily accessible, it won’t do much to grow your savings, as yields are very low.
Also, savings account customers only have ATM access if their account is linked to an East West Bank checking account.
Pros
Interest rates on the account are tiered.
The minimum to open a Premier Savings account is only $100.
Cons
There’s a $3 monthly maintenance fee that isn’t all that easy to waive.
You must link your savings account to a checking account to have ATM access.
The APY offered is very low; higher yields can be found elsewhere.
-
East West Bank
APY
APY last updated between 9/8 and 9/14.
APY
APY last updated between 9/8 and 9/14.
National average APY
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
East West Bank savings rates
Date
Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.
East West Bank
APY
APY last updated between 9/8 and 9/14.
APY
APY last updated between 9/8 and 9/14
National average APY
The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
Compare Offer
Sponsored Offer
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.
Member FDIC
Savings Account
4.25
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 9/15/2024
Rating: 4.9 stars out of 5
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min balance for APY
American Express
Member FDIC
Savings Account Details
4.25
%
APY
$0
Min balance for APY
Offer rate as of9/15/2024
Interest rate4.16%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Promoted offer:
4.2
Rating: 4.2 stars out of 5
Bankrate Score
Compare top CD rates
FEATURES
East West Bank CD overview
East West CDs can be opened with $1,000, which is a relatively standard price point. Interest rates, which compound daily, are fixed, meaning they won’t go up over the term even if East West Bank’s offerings increase. East West Bank offers a large swath of terms, ranging from 32 days to five years.
Yields are extremely low for all of those terms, however, and better deals can be easily found elsewhere.
Pros
The $1,000 deposit is reasonable.
There are plenty of CD terms to choose from.
Cons
Only standard CDs are available.
Yields are extremely low.
Compare Offer
Sponsored Offer
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.
Member FDIC
CD
4.60
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 9/15/2024
Rating: 4.5 stars out of 5
Bankrate CD rating = 4.5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$500
Min. deposit
1yr
Term
Marcus by Goldman Sachs
Member FDIC
CD Details
4.60
%
APY
$500
Min. deposit
1yr
Term
Offer rate as of9/15/2024
Minimum deposit$500
Promoted offer:
1.8
Rating: 1.8 stars out of 5
Bankrate Score
Compare top money market rates
East West Bank money market overview
You need a whopping $10,000 to open East West Bank’s Premier Maximizer Money Market account. But you won’t get much of a yield for that deposit, as APYs offered are very low.
The account also charges a $12 monthly maintenance fee, which can be waived if you maintain at least a $2,500 monthly average balance or if you had a $10,000 average balance across other East West Bank accounts in the prior month.
The account comes with a Visa debit card, overdraft protection and limited check-writing privileges. You may only make six withdrawals per statement period.
Pros
A Visa debit card is included with the account.
Overdraft protection is available, but transfers do come with a fee.
Cons
Higher yields are easily found elsewhere.
You must link your money market account to a checking account to have ATM access.
There’s a $12 monthly maintenance fee.
A minimum deposit of $10,000 is required to open the account.
3.7
Rating: 3.7 stars out of 5
Bankrate Score
Compare top checking rates
East West Bank checking overview
East West Bank has multiple checking accounts to choose from. We reviewed Value Checking, East West bank’s base checking account, which doesn’t earn interest.
The account can be opened with $100, making the account easy to open. Moreover, there’s a $5 monthly fee that can be waived if you maintain a $1,500 monthly average balance or a $5,000 average balance across other East West Bank accounts in the prior month.
The account comes with a Visa debit card, overdraft protection and a host of mobile and online banking functionality, like person-to-person transactions through Zelle.
Pros
There’s a $5 monthly fee but it’s easy to waive.
The account can be opened with just $100.
Online banking lets you make person-to-person transactions through Zelle.
There’s surcharge-free access to the CO-OP and MoneyPass ATM networks.
Cons
East West Bank charges out-of-network ATM fees after two free withdrawals each month.
Overdraft fees are slightly above average at $30.
Compare Offer
Sponsored Offer
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.
Member FDIC
Checking Account
0.50
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 9/15/2024
Rating: 4.9 stars out of 5
Bankrate Checking rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
To open
$0
To avoid fees
SoFi
Member FDIC
Checking Account Details
0.50
%
APY
$0
To open
$0
To avoid fees
Offer rate as of9/15/2024
Minimum to avoid fees$0
Monthly fees$0
Overdraft/NSF fees$0
Out of network ATM fee$0
Has online accessYes
Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | $30 |
| Non-sufficient funds fee | $30 |
| Monthly maintenance fee | $0 - $12 |
| Out-of-network ATM fee | $1 |
| Excessive transaction fee | $10 |
Customer experience
Customer service. Customers can reach service representatives Monday through Friday from 6 a.m. to 7 p.m. Pacific time, or Saturdays from 9 a.m. to 5 p.m. Pacific time.
Digital experience. East West Bank offers iOS and Android mobile apps, both highly rated. Through online and mobile banking, East West customers can transfer funds between accounts, pay bills and make person-to-person payments through Zelle.
About East West Bank
East West Bank is a California-based institution with headquarters in Pasadena. The bank has more than 100 branches. East West has more than $60 billion in assets and provides a host of deposit, credit and wealth management services to consumers and businesses.
Review methodology
With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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