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.
Table of Contents
- 1 Checking Account Options
- 2 Compare Checking Accounts
- 3 Savings Account Options
- 4 Compare Savings Accounts
- 5 CD Account Options
- 6 Compare CD Accounts
- 7 Reasons to Bank with East West Bank
- 8 Reasons Not to Bank with East West Bank
- 9 East West Bank Routing Number
- 10 Contact Customer Service
- 11 How East West Bank Compares
- 12 Bottom Line
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.
Compare Checking Accounts
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.
Compare Savings Accounts
Open a Discover Online Savings Account for all these features:
• Bonus offer applies for your first Discover Online Savings Account
• Earn $200/$150 Bonus with promo code HMB21 by 12/15/2021
• Fund your first savings account with at least of $25K within 30 days of account open date to earn the $200 Bonus
• Fund your first savings account with at least of $15K within 30 days of account open date to earn the $150 Bonus
• Earn high interest rate of 0.40% APY
• No minimum opening deposit, no minimum balance requirement, and now no fees
• Interest on Discover Online Savings Accounts is compounded daily and credited monthly
• Manage your account online or with the Discover mobile app
• FDIC insurance up to $250,000
See advertiser website for full details
With the American Express® High Yield Savings Account:
• Earn 0.40% APY on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly.
• Links easily with your current bank accounts. No need to switch banks.
• FDIC Insured. Your account is insured to at least $250,000 per depositor.
• No monthly fees, no minimum balance.
• 24/7 Account Access
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.
Compare CD Accounts
• Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months
• Rates ranging from 0.20% APY up to 0.80% APY.
• Opening a Discover Bank Certificate of Deposit is extremely quick and easy.
• Funds on deposit are FDIC-insured up to the maximum allowed by law.
• Start today with a minimum deposit of $2,500!
• Get started and open a Discover CD in 3 easy steps.
• Available online nationwide
• Earn 0.30% APY on a 12-Month CD Term
• Earn up to 0.50% APY
• $1,000 minimum to open
• Selection of terms to meet your needs
• A range of choices. Low minimum deposits.
• No fees to open or maintain the account
• Available as Custodial
• Open a CIT Bank Certificate of Deposit Account today!
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.
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!