What You Need to Know

Bank of the West offers checking, savings, CDs, and money market accounts for your business. Credit cards, loans, and lines of credit are also available. Bank of the West offers payroll services and payment processing options. Foreign exchange services for business accounts are also available. Interest rates for their different business accounts are not listed on the website.

Bank of the West does not require you to have direct deposit into their checking account. There is a monthly maintenance fee, but you can waive that fee by depositing money into your account each month. You can deposit any amount by an ATM, in-branch, direct, or mobile deposit to waive the fee.

Bank of the West offers Flexible-Term CDs, Premium Money Market CD, and a Relationship CD. Within these different CD types are a variety of term lengths, except the Relationship CD. That only has a 12-month term option. To apply for a CD and get the specific term lengths and rates you have to visit a branch. You cannot apply online.

With Popmoney you can send or receive money with only an email, text, or account number. You decide where the money is deposited. You will receive an alert when the transaction is complete. There is a fee to send money overnight, and not all customers qualify to use Popmoney.

Personal banking accounts of Bank of the West do not have competitive interest rates. The rates are much less than online-only banks but similar to typical bank interest rates.

To open a CD, you must have an opening balance of $1,000 for the Flexible-Term CDs and Premier Money Market CDs. To open a Relationship CD, you must have $2,500 and a checking account with Bank of the West.

To waive the Premier Checking account fee, you must have $25,000 in qualifying accounts. The Choice Money Market account requires $5,000. CD accounts require $1,000 to $2,500 to open. The Classic Savings account requires $300. There are other options for ways to have monthly fees waived. Know the options if you cannot keep the required amounts of money in the accounts.

Bank of the West accounts are not available in all states. To apply for an account, you must have an address in one of the states listed. Interest rates and products differ between states. The name of the bank may be slightly different as well depending on the area.

Cool Things

Financial Education

Bank of the West offers financial resources. You can learn to build a budget and effective ways to grow your money. You can learn how to reduce debt and protect your financial information. Retirement information is available too.

International Help

If you have recently moved to the United States, Bank of the West has a team ready to help you set up new accounts. They offer multilingual specialists to help provide specific help. This team can help you set up checking accounts, auto loans, credit cards, and mortgages. To apply for these accounts, Bank of the West does not require U.S. credit history.

History

Bank of the West started in California in 1874. The original name was Farmers National Gold Bank. This bank was one of ten banks authorized to issue paper money back by gold reserves. This allowed people in California to build homes, buy farms, and start businesses. Good management and banking procedures saved Farmers National Gold Bank through the 1906 earthquake, the depression, and the world wars. People in California trusted Famers National Gold Bank with their money.

In 1979, Farmers National Gold Bank changed its name to Bank of the West because it was expanding. They continued to grow and in 1980 became affiliated with BNP Paribas, a large bank in Europe. Bank of the West has acquired other banks in recent years in California, North Dakota, and Nebraska.

Now there are branches in 23 states across the United States. They have more than $80.7 billion in assets.

Awards and Recognition

• Ranked among "American's Best Employers" by Forbes in 2017
• "Awarded "Best Client Service" by Private Asset Management Magazine in 2017
• "Best Commercial Bank in the Western United States" by World Finance Magazine in 2016
• "Best Private Bank in the Western United States" but World Finance Magazine in 2016
• "Best Bank Employer" by Hispanic Network Magazine in 2015

Giving Back

Each year Bank of the West employees volunteer teaching financial skills to students. The students range in age from kindergarten to seniors in high school. Bank of the West spent over $1.2 million for this program.

Bank of the West donated over $770,000 to local charities who help people gain job skills. These charities train people and place them in jobs that match their skills. These charities help those who are homeless or fighting addictions. They help those who do not have enough education or have been involved in the criminal justice system.

Bank of the West supports small businesses. In 2015, they provided $2.3 billion in loans to small businesses and farms. They donated an additional $729,000 in support toward small businesses.

Bank of the West sponsors art shows, jazz festivals, and balloon festivals across the United States. They sponsor a variety of colleges and the PAC-12 conference.

Frequently Asked Questions

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