Bank of Hope Review 2022 Bankrate
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Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
You can find higher yields on CDs at many online banks.
You can also open an IRA CD. These CDs require a $1,000 opening deposit and offer relatively average rates.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
The bank also offers a Prestige Money Market account, but the minimum opening deposit is $25,000, making this product out of reach for many consumers.
Account holders who sign up for e-statements receive a $3 credit toward monthly service charges.
At Bank of Hope, you will have plenty of access to ATMs. The bank partners with the Allpoint and MoneyPass ATM networks, making it easy to withdraw cash at tens of thousands of ATMs nationwide.
The Regular Checking account can be managed online, through the mobile app, by telephone or ATM and at a branch. Customers can customize their Bank of Hope debit card settings and add it to a digital wallet and use it with Zelle.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
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. .
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.Editorial disclosure
All reviews are prepared by our staff. Opinions expressed are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including any rates, terms and fees associated with financial products, presented in the review is accurate as of the date of publication. Bank of HopeBank of Hope Review 2022
René Bennett is a writer for Bankrate, reporting on banking products and personal finance. Updated November 10, 2022 Bankrate logoThe Bankrate promise
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At a glance
3.3 Bankrate Score CDs Checking Savings MMA About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.Overview
Bank of Hope is best for those who want basic financial services at an institution that focuses on its community. It provides financial resources for affordable housing to low- and moderate-income consumers and underserved multiethnic populations.Highlights
Highly Rated App Compare offers Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info 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. Info 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. Min. balance for APY Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.00 % APY Info 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. Info 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. Min. balance for APY Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.60 % APY Info 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. Info 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. Min. balance for APY Offer detailsBask Bank
Member FDIC Savings Account Details 3.60 % APY Min balance for APY 0 Monthly Acct Fees. No Balance Cap to Earn APY.Overall
Bank of Hope describes itself as “the only super regional Korean-American bank in the U.S.” It operates full-service branches in nine states.Pros
Bank of Hope provides financial resources to underserved communities. It offers a range of CD terms, from one month to five years. Customers have surcharge-free access to a large ATM network offered through the bank's partners.Cons
You can find higher APYs elsewhere. There is a fairly high minimum balance requirement on the money market account to avoid the monthly fee. Customer-service representatives aren’t available Sundays.Bank of Hope bank products
Savings CD Money Market Checking 2.3 Bankrate ScoreBank of Hope savings overview
Bank of Hope’s Personal Savings account offers a meager interest rate. Those looking for good returns can find much higher rates elsewhere. You’ll also need to make a $500 minimum deposit and maintain that balance to avoid a $5 monthly fee.Pros
The $5 monthly service fee is lower than what some other banks charge for not maintaining the minimum balance requirement.Cons
You can find much higher yields elsewhere. You’ll incur a $5 monthly service charge unless you keep at least $500 in the Personal Savings account. Many online banks offer savings accounts with a higher yield and no minimum balance requirement. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info 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. Min balance for APY Offer details Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. 3.1 Bankrate ScoreBank of Hope CD overview
Bank of Hope offers nine CD terms ranging from one month to five years. You’ll need $1,000 to open a CD. The bank also offers a flex CD, which allows two additional deposits during the term and two withdrawals of up to 50 percent of the initial balance. There is a $5,000 minimum deposit to open this CD.You can find higher yields on CDs at many online banks.
You can also open an IRA CD. These CDs require a $1,000 opening deposit and offer relatively average rates.
Pros
Bank of Hope offers a range of CD options. Higher rates are offered on higher balances. The opening deposit requirement for regular CDs is reasonable.Cons
You can find higher yields elsewhere. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC CD 4.10 % APY Info Bankrate CD 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. Min. deposit Term Offer details Offer detailsCapital One
Member FDIC CD Details 4.10 % APY Min. deposit Term Get peace of mind with fixed rates and guaranteed returns. 2.2 Bankrate ScoreBank of Hope money market overview
Bank of Hope’s Personal Money Market account, the product scored for this section, pays below-average rates. There is also a high $2,500 minimum deposit to open the account and you must maintain a daily minimum balance of $2,500 to avoid a $10 monthly service charge.The bank also offers a Prestige Money Market account, but the minimum opening deposit is $25,000, making this product out of reach for many consumers.
Account holders who sign up for e-statements receive a $3 credit toward monthly service charges.
Pros
The Personal MMA offers competitive APYs for high balances. You can make a limited number of debit or check transactions from the account.Cons
A $2,500 minimum balance is required to avoid the $10 monthly service fee. At least $500,000 is needed in the account to earn the highest APY. 4.1 Bankrate ScoreBank of Hope checking overview
Bank of Hope’s Regular Checking account has a reasonable minimum opening deposit of $100 but earns no interest. The account charges a monthly fee of $7 that can be waived if you maintain a minimum daily balance of at least $500 or an average daily balance of $1,000 during the statement period.At Bank of Hope, you will have plenty of access to ATMs. The bank partners with the Allpoint and MoneyPass ATM networks, making it easy to withdraw cash at tens of thousands of ATMs nationwide.
The Regular Checking account can be managed online, through the mobile app, by telephone or ATM and at a branch. Customers can customize their Bank of Hope debit card settings and add it to a digital wallet and use it with Zelle.
Pros
The Regular Checking account has a reasonable opening deposit requirement. Customers have access to a large ATM network through the bank's partnerships with Allpoint and MoneyPass. Regular Checking includes check-free bill pay and a debit card that can be added to a digital wallet and used with Zelle.Cons
There’s a monthly service charge unless you meet the balance requirement. The Regular Checking account earns no interest. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Checking Account 2.50 % APY Info 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. To open To avoid fees Offer details Offer detailsSoFi
Member FDIC Checking Account Details 2.50 % APY To open To avoid feesBank experience
Bank of Hope has 57 branches, but its wide network of ATMs means you won’t have much trouble accessing your money. Customers also have access to digital and telephone banking. Bank of Hope’s mobile app received favorable reviews in the Apple and Google Play stores. The app allows users to deposit checks, set up account alerts, deposit checks, pay bills and transfer money using Zelle.About Bank of Hope
Bank of Hope is a midsized bank headquartered in Los Angeles serving several major regions throughout the U.S. The Korean-American bank operates 57 branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama. Bank of Hope offers savings accounts, money market accounts, certificates of deposit and checking accounts.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. .