Umpqua Bank Review 2022
Umpqua Bank Review 2022 Bankrate Caret RightMain Menu Mortgage Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Bank Banking Compare Accounts Use calculators Get advice Bank reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Credit Card Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Caret RightMain Menu Loan Loans Personal Loans Student Loans Auto Loans Loan calculators Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Invest Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Home Equity Home equity Get the best rates Lender reviews Use calculators Knowledge base Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Loan Home Improvement Real estate Selling a home Buying a home Finding the right agent Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Insurance Insurance Car insurance Homeowners insurance Other insurance Company reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Retirement Retirement Retirement plans & accounts Learn the basics Retirement calculators Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Advertiser Disclosure
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.
With the Grow Savings account, you will pay a $3 monthly service fee unless a $200 minimum daily balance is maintained or the primary account holder is 55 or older or 18 or younger, or if a monthly transfer is made from another Umpqua personal deposit account.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
The Umpqua website has scant information about the bank's CD products. Potential customers must contact the bank to get rate information and other details.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
With the Thrive MMA, which Bankrate focused on for this review, a $1,000 minimum balance is needed to earn interest and to avoid a $10 monthly fee.
The Prosper MMA has a $15 fee that is waived if you don’t keep a $10,000 minimum daily balance or a combined balance of $25,000 across eligible accounts.
Umpqua also offers Attain Checking. You will need to deposit at least $200 to open Attain Checking and earn a little bit of interest. However, you can earn higher yields elsewhere. If you open an Attain Checking account, you will also earn a little more interest on any of the bank’s CDs.
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. Umpqua BankUmpqua 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
3.5 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
Umpqua Bank is a solid choice for West Coast residents who seek a regional bank with deposit and loan products, access to branch banking and digital-banking tools.Highlights
ATM Fee Refunds Low Min Deposit 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
Founded in 1953, Umpqua Bank is the largest regional bank in the Pacific Northwest. It has nearly $30 billion in assets.Pros
Umpqua Bank offers its innovative Go-To app that lets customers text a banker of their choosing if they have a question or need advice. The bank offers customers options with multiple checking accounts, money market accounts and CD terms. There is a relatively low deposit requirement to open a money market account or savings account.Cons
Deposit accounts tend to have APYs that are lower than the national averages. Umpqua has a smaller ATM network.Umpqua Bank bank products
Savings CD Money Market Checking 2.7 Bankrate ScoreUmpqua Bank savings overview
The Grow Savings Account is the only savings account offered by Umpqua Bank. (The bank does offer two money market accounts.) You only need $25 to open the Grow Savings Account, and all balances earn the same APY. But you can find higher yields elsewhere.With the Grow Savings account, you will pay a $3 monthly service fee unless a $200 minimum daily balance is maintained or the primary account holder is 55 or older or 18 or younger, or if a monthly transfer is made from another Umpqua personal deposit account.
Pros
The deposit required to open Grow Savings is only $25. There are several ways to sidestep the account’s monthly $3 maintenance fee.Cons
Higher yields can be found elsewhere, especially online banks. Savings accounts with higher APYs and no minimum balance requirements can be found 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 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 ScoreUmpqua Bank CD overview
Umpqua Bank offers nine terms of CDs. The minimum opening deposit is $1,000. You can get an additional bonus CD rate when a CD is opened along with the interest-bearing Umpqua Attain Checking account. Customers can get an additional bonus CD rate when a CD is opened along with select Umpqua checking accounts.The Umpqua website has scant information about the bank's CD products. Potential customers must contact the bank to get rate information and other details.
Pros
The bank offers a range of CD terms. The opening deposit on CDs is a reasonable $1,000.Cons
Lower opening deposit requirements can be found at other banks. CD penalties can be steep. On one-year CDs, early withdrawals cost 3 percent of the principal amount withdrawn, plus a $25 fee. There are no bump-up or no-penalty CDs. Higher yields can be found at other 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. 1.8 Bankrate ScoreUmpqua Bank money market overview
Umpqua Bank has two money market accounts, the Prosper MMA and Thrive MMA. Only $100 is needed to open either account and both come with an ATM card.With the Thrive MMA, which Bankrate focused on for this review, a $1,000 minimum balance is needed to earn interest and to avoid a $10 monthly fee.
The Prosper MMA has a $15 fee that is waived if you don’t keep a $10,000 minimum daily balance or a combined balance of $25,000 across eligible accounts.
Pros
Only $100 is required to open the money market accounts. The Prosper Money Market account pays a slightly higher yield if you also have a checking account with the bank.Cons
Higher yields can be found elsewhere. A $10 monthly maintenance fee applies on the Thrive Money Market if the account balance drops below $1,000. A $15 monthly fee applies on the Prosper Money Market account if the minimum daily balance drops below $10,000. 4.8 Bankrate ScoreUmpqua Bank checking overview
Umpqua Bank's Embark Checking is a basic account, requiring only $25 to open and levying no monthly service charge if you sign up for paperless statements. If you keep an average balance of $2,500 or more, you get up to $10 in non-Umpqua ATM rebates.Umpqua also offers Attain Checking. You will need to deposit at least $200 to open Attain Checking and earn a little bit of interest. However, you can earn higher yields elsewhere. If you open an Attain Checking account, you will also earn a little more interest on any of the bank’s CDs.
Pros
Umpqua Bank offers a variety of checking accounts to meet different needs and goals. With Embark Checking, customers get reimbursed up to $10 in out-of-network ATM fees each month when an average balance of at least $2,500 is maintained. Even with the basic Embark Checking account, customers have access to the Go-To app.Cons
The bank charges $2.50 per out-of-network ATM transaction, unless you qualify for a waiver. All Attain Checking balance tiers earn the same APY. 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
Not all Umpqua Bank branches have reopened since the COVID-19 pandemic. The bank encourages customers who need to go inside a branch to first check with the branch and make an appointment online. Customers can expect their personal banker on the Umpqua Go-To app to work regular bank hours, according to an Umpqua Bank representative. You can telephone the bank or use the live chat feature on the website from 8 a.m. to 6 p.m. Pacific Time, weekdays, and 8 a.m. to 5 p.m., Saturday and Sunday. Umpqua Bank's mobile app gets high ratings in the Apple App and Google Play stores. Umpqua debit and credit cards work with Apple Pay, Google Pay, Samsung PaY, Fitbit Pay and Garmin Pay.About Umpqua Bank
Umpqua Bank is based in Roseburg, Oregon, and has 219 locations in Oregon, Idaho, Nevada, Washington and California. In late 2021, Umpqua agreed to be acquired by Columbia Banking System, based in Tacoma, Washington. The deal is expected to close in mid-2022. Umpqua also said it was expanding into Arizona. Umpqua offers checking accounts, a savings account, money market accounts and CDs, as well as business and commercial banking services.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. .