East West Bank, one of the largest independently owned banks in California, offers decent account options. To find out if East West Bank is right for you continue reading below.
East West Bank is a Chinese-American owned bank that serves all kinds of people but especially Asian Americans.
Checking Account Options
East West Bank has various checking accounts that offers some pretty neat benefits.
With a $100 deposit, you can gain access to free banking through online, mobile and phone! You can also get Overdraft Protection.
You will also receive a East West Bank Debit Mastercard.
There is a monthly fee of $5, but you can waive it by maintaining a $1,500 daily balance.
With a $100 minimum deposit, you will gain access to all online and mobile banking, direct deposits and Visa® Debit Card.
This account also earns tiered interest rates.
There is a $10 monthly fee, but if you maintain an overall balance of $2,500 throughout all your accounts, you can get it waived.
This is an interest bearing account that comes with all the previous benefits that a regular checking account has.
This checking account earns money market interest rates.
However, you will need a minimum deposit of $10,000 to open it.
There’s a monthly fee of $12, but you can waive it by maintaining a minimum daily balance of $2,500.
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Savings Account Options
East West Bank has great savings accounts that all aim to help make saving your money more convenient.
You will need $100 to open this account and it comes with everything that a East West checking account already comes with.
If you maintain a monthly balance of $2,500, you can waive the $3 monthly fee.
You can also waive the monthly fee if you are under 18 years old.
This savings account is designed for students saving for college.
This account requires an opening deposit of $100 and you can earn variable interest on it.
If you sign up for direct deposit or automatic transfers you can waive the $3 monthly fee.
This savings account is for those 62 or older who need to deposit their money while earning interest.
With an opening deposit of $100, you can have the same access as every other savings account, but you will also receive a safe deposit box.
There are no monthly fees to worry about as well.
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CD Account Options
East West Bank offers CDs with competitive rates. These CD terms range from 32 days to 5 years and requires $1,000 to open. The interest is also compounded daily.
To find more about their CDs, click here.
The CDs will automatically renew upon maturity.
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Reasons to Bank with East West Bank
- They have a good variety of both checking and savings accounts.
- They have a checking account that earns money market interest rates.
- All their accounts have pretty low minimum balance requirements and easily waiveable monthly fees.
- They have a youth savings account designed for high school students to save money responsibly.
- Provides a senior savings account.
- Offers a 24-hour telephone banking line.
- They have locations in China also since they are an East-West bank.
- Conduct all your banking conveniently online or with East West Bank mobile app.
Reasons Not to Bank with East West Bank
- Their interest rates aren’t particularly that high.
- There are only 120 branches available.
- Online banking isn’t that user-friendly apparently.
East West Bank Routing Number
The routing number for East West Bank varies depending on locations and regions. To find the routing number, check the left corner of your East West Bank check.
Contact Customer Service
You can reach East West Bank at 1 (888) 895-5650.
A customer representative will be available at these hours:
- Monday to Friday at 6 a.m. – 7 p.m. (CST)
- Saturday at 9 a.m. – 5 p.m. (CST)
How East West Bank Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account options.
- Wells Fargo: Located throughout the US with over 5,800 branches and 13,000 ATMs. They offer a variety of deposits accounts, including accounts for teens and customers who need a second chance.
- Bank of Hope: Another Asian-American owned bank that is based in Los Angeles, California, Bank of Hope offers very similar account options to Cathay Bank.
Bottom Line
Fusing both East and West, East West Bank has account options for everyone.
They provide a student and senior savings accounts and consider the inconvenience both kinds of customers can face by reducing the difficulty of waivers.
However, keep in mind that when you look for a checking or savings account be sure to look into all the fees charged. Don’t focus on the interest rate alone, but on what the account will cost you overall.
If you’re interested in banking with East West Bank, then apply today! For more options from a variety of banks, see our list of the best bank promotions!
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