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East West Bank Review

Updated April 25, 2025
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At a glance

Overview

East West Bank is best for customers on the West Coast or those who want access to branches in both the U.S. and China. The bank is unique for offering 11 types of checking accounts, allowing you to customize and choose the account most closely aligned with your needs. Plus, the bank’s highly-rated app makes online and mobile banking a breeze. 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
3.3
Rating: 3.3 stars out of 5
Bankrate Score

CDs

Rating: 2.8 stars out of 5
2.8 /5

Checking

Rating: 3.7 stars out of 5
3.7 /5

Savings

Rating: 2 stars out of 5
2.0 /5

MMA

Rating: 1.8 stars out of 5
1.8 /5
Sponsored offers

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Bank logo
Member FDIC
Savings Account
4.30
%
APY
As of 4/29/2025
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: No monthly maintenance fee, $0 to open, easily grow your money
Bank logo
Member FDIC
Savings Account
3.60
%
APY
As of 4/29/2025
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: It only takes about 5 minutes to open a fee-free account.
Bank logo
Member FDIC
Savings Account
4.20
%
APY
As of 4/29/2025
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: No fees. Easy deposits and quick withdrawals.

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

  • Checkmark Icon

    East West Bank customers have surcharge-free access to AllPoint and MoneyPass ATMs.

  • Checkmark Icon

    East West Bank has a large branch network.

  • Checkmark Icon

    The iOS and Android apps are highly rated by users.

Cons

  • APYs for all consumer deposit accounts are extremely low.

East West Bank banking products

East West Bank savings overview

2.0
/5
Rating: 2 stars out of 5

Pros

  • Checkmark Icon

    Interest rates on the account are tiered.

  • Checkmark Icon

    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 CD overview

2.8
/5
Rating: 2.8 stars out of 5

Pros

  • Checkmark Icon

    The $1,000 deposit is reasonable.

  • Checkmark Icon

    There are plenty of CD terms to choose from.

Cons

  • Only standard CDs are available.

  • Yields are extremely low.

East West Bank money market overview

1.8
/5
Rating: 1.8 stars out of 5

Pros

  • Checkmark Icon

    A Visa debit card is included with the account.

  • Checkmark Icon

    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 (waivable if you meet certain criteria).

East West Bank checking overview

3.7
/5
Rating: 3.7 stars out of 5

Pros

  • Checkmark Icon

    There’s a $5 monthly fee but it’s easy to waive.

  • Checkmark Icon

    The account can be opened with just $100.

  • Checkmark Icon

    Online banking lets you make person-to-person transactions through Zelle.

  • Checkmark Icon

    There’s surcharge-free access to the Allpoint 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.

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 live service representatives by phone 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.

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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.