East West Bank Review 2024
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At a glance
CDs
Checking
Savings
MMA
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
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.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
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.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Checking 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.
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.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment 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
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East West Bank customers have surcharge-free access to AllPoint and MoneyPass ATMs.
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East West Bank has a large branch network.
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The iOS and Android apps are highly rated by users.
Cons
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APYs for all consumer deposit accounts are extremely low.
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East West Bank banking products
East West Bank savings overview
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
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Interest rates on the account are tiered.
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The minimum to open a Premier Savings account is only $100.
Cons
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There’s a $3 monthly maintenance fee that isn’t all that easy to waive.
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You must link your savings account to a checking account to have ATM access.
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The APY offered is very low; higher yields can be found elsewhere.
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East West BankAPYAPY last updated between 11/14 and 11/20.APYAPY last updated between 11/14 and 11/20.National average APYHow 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.
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
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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