OneWest Bank 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.
The Green Savings account, which was scored for this review, does not come with an ATM or debit card and check-writing is not available. There is no monthly service charge.
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.
Personal Checking, which was scored for this review, requires only $25 to open. It carries a $5 monthly fee that is waived if you meet one of the following criteria: maintain a $1,000 average monthly balance; elect to get eStatements; are a senior 55 or older; one of the account holders is a minor under age 18.
All OneWest checking accounts come with online banking, bill pay, mobile banking and an ATM/debit card that allows for contactless payments.
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. OneWest BankOneWest Bank Review 2022
Libby Wells covers banking and deposit products. She has more than 30 years’ experience as a writer and editor for newspapers, magazines and online publications. Updated November 10, 2022 Bankrate logoThe Bankrate promise
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At a glance
3.8 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
OneWest Bank is a good option for customers in Southern California who want an interest-bearing checking account and a range of CD terms.Highlights
ATM Fee Refunds 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
OneWest Bank has more than 60 branches in Southern California and a full lineup of deposit and loan products, and online and mobile banking tools.Pros
OneWest Bank offers 24/7 banking through online and mobile banking and an automated telephone system. Checking accounts feature free online bill pay. Opening deposits for all checking accounts are reasonable.Cons
You can find higher yields on deposits at other banks.OneWest Bank bank products
Savings CD Money Market Checking 2.8 Bankrate ScoreOneWest Bank savings overview
You need only $100 to open either the Personal Savings account or the Green Savings account. Personal Savings, OneWest Bank’s highest APY savings option, requires a balance of $100,000 or more to earn the top yield.The Green Savings account, which was scored for this review, does not come with an ATM or debit card and check-writing is not available. There is no monthly service charge.
Pros
Both the Personal Savings and the Green Savings accounts require only $100 to open. The Personal Savings account comes with a check-writing option and an ATM card. The Green Savings account doesn’t have a monthly service charge.Cons
There are higher APYs available at other banks. You need a balance of at least $100,000 to earn the highest yield on the Personal Savings and Green Savings accounts. Green Savings does not come with an ATM card, debit card or a check-writing option. 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. 4.2 Bankrate ScoreOneWest Bank CD overview
You’ll need $1,000 to open a CD at OneWest Bank. OneWest Bank offers 10 terms of CDs ranging from three months to five years. When a CD matures, there is a seven-day grace period to either transfer the funds or withdraw them.Pros
OneWest Bank offers 10 terms on CDs, ranging from three months to five years. OneWest Bank pays slightly better than the national average on CD products. The $1,000 deposit to open a CD is reasonable.Cons
You can find higher yields at other banks, especially online banks. 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. 2.0 Bankrate ScoreOneWest Bank money market overview
The Premium Money Market account pays a decent APY and requires $1,000 to open. You need a balance of $100,000 to earn the top APY on this account. The account comes with a OneWest Bank ATM card, free online bill pay and access to all the bank's online and mobile banking conveniences. The $10 monthly service charge is waived with an average monthly balance of $10,000.Pros
The MMA offers access to 24/7 banking online or through an automated telephone system.Cons
The Premium Money Market Account requires a high balance ($10,000) to avoid the $10 monthly fee. A very high balance ($100,000) is needed to earn the highest APY. You can find higher yields at other banks, especially online banks. 4.8 Bankrate ScoreOneWest Bank checking overview
OneWest has three checking accounts: Personal, Premium and OneAccount checking. Premium and OneAccount checking are interest-bearing.Personal Checking, which was scored for this review, requires only $25 to open. It carries a $5 monthly fee that is waived if you meet one of the following criteria: maintain a $1,000 average monthly balance; elect to get eStatements; are a senior 55 or older; one of the account holders is a minor under age 18.
All OneWest checking accounts come with online banking, bill pay, mobile banking and an ATM/debit card that allows for contactless payments.
Pros
OneWest has three checking account options to suit different needs. The minimum amount to open the Personal Checking ($25) and Premium Checking accounts ($100) are reasonable. Personal Checking customers can easily avoid the $5 monthly fee by electing to get eStatements. All checking accounts come with online banking, bill pay, mobile banking and an ATM/debit card that allows contactless payments.Cons
You can find higher yields at other banks. OneAccount checking requires a high average monthly balance ($10,000) to avoid a $25 monthly fee. 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
The OneWest Bank mobile app gets excellent reviews from Apple device users and decent reviews from Android device users. Customers also can bank online or via the automated telephone system. OneWest has a live chat feature on its website. The bank allows person-to-person payments using Zelle. OneWest Bank has more than 60 locations in Southern California. Telephone customer service hours are 7 a.m. to 6 p.m. Pacific time, Monday through Friday, and 7 a.m. to 3 p.m. Pacific time, Saturday.About OneWest Bank
OneWest Bank is a federally insured bank established in 2009. It has more than 60 branches in Southern California, from San Diego to Ventura County. It offers a full menu of deposit and loan products for consumers and small businesses. Its corporate headquarters is in Pasadena. OneWest is a division of CIT Bank, whose parent company recently merged with First Citizens BancShares Inc. The deal closed in January 2022.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. .