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.
First IB only requires $25 to open the regular checking account. The interest earning checking account requires $100 to open. The savings accounts require $25 for the free account and $100 for the interest account. The money market account only requires $100 to open. CDs required $1,000 to open.
First IB accounts earn competitive interest rates. Each of the different accounts earns a good rate. To earn the best rate for the checking account only requires $500 in the account. The savings accounts do not have a set limit to earn the competitive interest rates.
A variety of different accounts are available through First IB. There are personal deposit and business accounts. First IB offers a variety of different personal deposit accounts. There is a free checking account as well as an interest earning account. They offer money market savings, regular savings, and a free savings account. There are savings accounts for kids. Loans, credit cards, and health savings accounts are available through First IB.
First IB is a member of the ATM Plus network. This gives you access to millions of ATMs across the United States. Certain accounts with First IB reimburse ATM fees. Up to $10 each month in ATM fees are available for reimbursement. The interest checking, money market, and regular savings offer the reimbursement option.
The First IB saving accounts have high required balance to avoid the monthly fees. The money market savings account requires a daily balance of $4,000 to avoid the monthly fee. The regular savings account requires a daily balance of $1,000 to avoid the monthly fee.
Most First IB accounts have a monthly fee. The fees range from $2 to $10 each month. Waive the fees by keeping an average daily balance in the accounts. The interest earning checking account requires $500 in the account. The money market account requires $4,000. The regular savings account earns $1,000 to waive the fees. The basic checking, savings, and kids accounts do not have a monthly fee.
CDs have a fee for withdrawing money before it reaches maturity. The fees on CDs at First IB are high. CD terms for three-months requires the interest from 90 days. CD terms from 6-months to 18-months require 180 days of interest. CD terms over 24-months fee are 360 days of interest. For some of these terms, you lose all the interest earned if you withdraw your money early.
To earn the most competitive rate, the money market savings requires a high daily balance. First IB requires a daily balance of $250,000 in the money market savings account to earn the highest rate. Amounts under that earn good rates, just not the most competitive rate.