Union Bank Review

How does your bank stack up?

  • Financial Rates: 3.0 Star Icon
  • Customer Service: 4.5 Star Icon
  • Website Experience: 3.5 Star Icon
  • Bank Fees: 3.0 Star Icon


  • Checking and savings account for youth
  • Low opening amount for some accounts
  • Business accounts offered
  • MMA offers tiered interest rates


  • Accounts have low interest rates
  • High monthly fees
  • Opening amounts for MMA are high
  • Not all checking accounts earn interest

What You Need to Know

Accounts for kids and teens are offered from Union Bank. The Kidz savings account is for children ages 8-12. From ages 13-17, teen savings and checking accounts are available. These youth accounts must be jointly owned with an adult. Youth accounts do not have a monthly fee. The opening deposit amount for the savings accounts is $1. The checking account requires $100. Each deposit of at least $5 into the Kidz savings account earns a stamp. After ten stamps the child earns a gift card.

Union Bank savings, checking, and CDs have a low opening deposit. All checking accounts, except the Priority account, only need $100 to open. The basic savings account requires $50. The youth savings accounts only require $1. Union Bank CDs require $350 to open the CD. Only the seven days to one-month CDs require a higher balance.

Union Bank offers a variety of small and commercial business accounts. Checking, savings, and money market accounts are available for small and commercial business. Loans, CDs, and credit cards are available as well. Union Bank offers payable and receivable services for large businesses.

Both Union Bank money market accounts offered tiered interest rates. This means the more money you have invested in the account, the higher the interest you will earn. The regular MMA requires $2,500 to open; the High Rate MMA requires $10,000.

Union Bank accounts do not offer competitive interest rates. Their rates are similar to your brick and mortar bank rates. They are not competitive with other online-only bank accounts.

Most all Union Bank accounts have a monthly maintenance fee. The fees range from $4 to $30 a month depending on the account. Signing up for online statements will lower the monthly fee by $1 for some accounts, but not waive it. Ways to waive the fees include having a required amount in the account or direct deposits. The youth accounts do not have a monthly fee.

There are two money market accounts offered by Union Bank. The basic MMA requires $2,500 to open the account. The High Rate money market account required $10,000 to open. Both accounts have a monthly maintenance fee. Union Bank requires you to link one of their checking accounts to the money market accounts. The interest rates for Union Bank MMA are not competitive.

The Priority bank account is the only checking account that earns interest. The minimum opening deposit for the interest earning account is $1,000. There is a $30 monthly fee. The fee is only waived if you have over $50,000 in combined Union Bank accounts or have a mortgage through Union Bank.

Cool Things

Fraud Education

The Union Bank website offers information on the current fraud tactics to help you be aware. Articles detail how the scams work and could affect you. By knowing these ways, you can more effectively protect your money. The articles explain what the fraud is and how you can best protect yourself. Some examples include ATM skimming, lottery scams, and tax refund scams.

Hearing and Vision Impaired Services

Union Bank offers services to help their customers who are hearing and/or visually impaired. Customers can receive documents in Braille or large print. Documents are available on CD or cassettes, or electronic text. Union Bank offers Telecommunications Devices for the Deaf. Text-to-speech software, voice recognition, and various viewing preferences are available. Talking ATMs are also available.


In 1864, The Bank of California opened in San Francisco, California. In 1996, The Bank of California and Union Bank combined. This created The Union Bank of California. It was part of the Mitsubishi Bank merger with the Bank of Tokyo. This merger created the world's largest bank.

Union Bank is part of the Mitsubishi UFJ Financial group in America. MUFG is the fifth largest financial group in the world. Union Bank, together with MUFG, are banking in nearly 50 countries. They have over 140,000 employees and 2,300 offices around the world. Their assets total over $2.5 trillion. Union Bank, PurePoint Financial, and MUFG are the branches in the Americas.

Awards and Recognition

  • Ranked #3 in "Top Ten Regional Companies for Diversity" by DiversityInc
  • "Most Reputable Bank" by American Banker
  • "Best Corporate Trust Bank in America" by Global Banking & Finance Review

Giving Back

In 2017, Union Bank donated $110,000 to help in Northern California. The money went to organizations providing relief to those in the wildfires. The bank established the "Employee Relief Fund." This fund helps Union Bank employees who are affected by natural disasters.

Through Union Bank's "My Giving" program, employees can donate money, and Union Bank matches their contribution. In 2016, employees donated over 1.3 million dollars. Union Bank matched the amount of $1 million. Together they donated over $2.4 million. Employees also donated over 37,000 hours of volunteer service.

In 2018, Union Bank announced 11 of their offices were going to be using 100 percent renewable energy. Union Bank is working to reduce the impact on the planet one branch location at a time. One branch installed a charging station for the electric Tesla. The car's battery can recharge in 20 minutes.

Frequently Asked Questions

Is This Bank FDIC insured?

Yes. Union Bank is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.

How do I access my money?

By debit card, checks, or online transfers. You can visit a local branch or ATM.

Does this bank offer mobile banking?

Yes. With mobile banking, you can view balances and transfer money between accounts. You can pay your bills, deposit checks, and find locations or ATMs.

Is this bank free?

No. Most all Union Bank accounts have a monthly maintenance fee. The fee is lowered by $1 if you sign up to receive online statements. To waive the fee completely, you must keep a set amount in the account and/or sign up for direct deposit. The requirements vary based on the account.

Is this a good bank?

Union Bank offers a variety of accounts, including business accounts. They have branch locations all around the United States. The interest rates are low, and most of the accounts have a monthly fee.

Is this bank secure online?

Yes. Union Bank accounts are password protected. They encrypt your information and keep account data in secure bank systems.

Does this bank offer competitive interest rates?

No. The interest rates for Union Bank are similar to your typical brick and mortar banks. Their rates are not competitive with other online-only account rates.

Can I use this bank for my business accounts?

Yes. Union Bank offers a variety of accounts to meet your business needs. Checking, savings, and money market accounts are available. Credit cards, loans, and CDs are also offered.

How is the online bank different from the online banking my bank offers?

It is not different. The interest rates for Union Bank are similar to your typical brick and mortar banks. Everything for your account can be done online, or you can visit a local branch. The online banking is the same.

Do their checking accounts pay interest?

Only the Priority account earns interest. This account requires $1,000 to open the account. There is a monthly fee of $30. That fee can be waived by keeping $50,000 in combined Union Bank accounts or having a mortgage through Union Bank.

How do I reach customer service?

By phone, email, or by visiting a local branch or ATM.

Does this bank offer bill pay?

Yes. All Union Bank checking accounts come with free bill pay. You can access the bill pay option from the app or online. You must enroll in online bill pay before you use it.

Can I deposit cash?

Yes, at a local branch.

How long do transfers take?

Transfers to an external account can be available the next day. To have the transfer the next day, your account must have $750 more than the amount being transferred. It must have no negative transactions. A transfer of $500 must have been deposited from the external account into a UFB Direct account. Only $2,000 can be transferred per day and $5,000 per month.

Can I sign up for direct deposit to this account?

Yes. Signing up for direct deposit is one way to waive the monthly fee for some accounts.

Bank Contact Information

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