Great Western Bank is a business focused financial institution that offers a wide variety of account options. To find out if Great Western Bank is right for you, continue reading the review below.
If you happen to be a small business owner, then perhaps the Premier Business Checking account may interest you.
Great Western Bank also offers agribusiness banking, which is something unique to this bank while still having the standard options that other brick and mortar banks do.
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 Agribusiness Banking
- 8 Reasons to Bank with Great Western Bank
- 9 Reasons Not to Bank with Great Western Bank
- 10 Great Western Bank Routing Number
- 11 Contact Customer Service
- 12 How Great Western Bank Compares
- 13 Bottom Line
Checking Account Options
Great Western Bank has a decent variety of checking accounts that comes with different benefits. Be sure to read through all the details before applying to any account.
This is Great Western Bank’s basic checking account and you will need a minimum deposit of $50 to open it.
Upon opening, you will gain access to Great Western Bank’s 35,000 ATMs.
Some other benefits included are:
- A Great Western Bank Debit Card
- Online banking and bill pay
- Free eStatements
- Free access to VISA® Checkout
This account doesn’t earn interest, but at least there are no monthly fees to worry about.
This checking account offers basically the same thing Free Checking has, except you will have to pay a monthly fee unless you follow the requirements to avoid it.
You do, however, can get up to 3 ATM fee refunds.
This account also does not earn interest.
This checking account is for those who are 50+ years old or older.
You will still need $50 to open it, but there are no monthly fees to handle as a senior citizen.
This account earns interest so you can set it aside for retirement or personal concerns. The interest increases with each tier.
This is a high interest bearing account and you will need $50 once again to open it.
There is a monthly fee of $8 to consider if the balance falls below $1,000.
This account also earns tiered interest rates.
This is a business account offered by Great Western Bank that does earn interest.
There are no minimum balance requirements, but there are monthly fees.
This business checking account includes other benefits such as:
- Access to Online Business Bill Pay
- Receive free check imaging
- Optional Phone Banking
- Get a free access to VISA® Checkout
Great Western Bank also has other business checking accounts, however, they do not earn interest. If you want to see the other ones they have to offer, click here.
Compare Checking Accounts
Savings Account Options
Great Western Bank only has one savings account, called “Basic Savings Account” but it is very easy to maintain.
You will need at least $50 as an opening deposit, but there are no monthly fees nor minimum balance requirements to worry about afterwards!
This account earns tiered interest rates so interest is earned based on your balance amount.
For more information, you can contact your local Great Western Bank branch for actual rates.
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 HMB622 by 09/15/2022
• 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 1.50% 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 1.50% APY as of 8/11/22 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.
• 24/7 Account Access
CD Account Options
Great Western Bank has two main CD terms and they both earn a fixed APY.
You will need a minimum of $500 as an opening deposit to start earning interest.
The interest is compounded when it reaches maturity, and this CD will also automatically renew.
You will need $500 again to open this CD.
The interest is compounded annually and during maturity, and this CD will also automatically renew.
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 0.50% APY up to 3.20% 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 2.10% APY on a 13-Month CD Term
• $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!
Great Western Bank offers agribusiness banking for those who want to invest in agricultural means. To find out more information about agribusiness banking, click here.
Reasons to Bank with Great Western Bank
- They have a good variety of checking accounts.
- If you are a business owner or business person, the Premier Business Checking account is ideal and earns competitive interest rates.
- They have a senior citizens checking account that earns interest.
- Their opening deposit requirements are low.
- They have agribusiness banking for those who particularly want to invest in agricultural purposes.
- Their CDs actually earns a pretty high APY.
- If you live anywhere around the Midwest and Southwest, you will probably find a Great Western Bank near you.
Reasons Not to Bank with Great Western Bank
- There are only locations in 9 states: Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota.
- They only have one type of savings account and very little benefits for it. They lack variety in their savings.
- The senior citizen checking account isn’t free to open whereas other banks have free senior checking accounts.
- There’s no youth savings account for young adolescents who might want to start their own business.
Great Western Bank Routing Number
Great Western Bank’s routing number is 091408734.
Contact Customer Service
You can reach Great Western Bank’s customer service at 1-800-952-2043.
A customer representative will be available to speak to you at these hours:
- Monday – Friday at 7:30 a.m. – 6:00 p.m. CST
- Saturday at 8:00 a.m. – 1:00 p.m. CST
How Great Western 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.
- Huntington Bank: Huntington offers a variety of account options to choose from. Right now, Huntington is offering bonuses when you sign up for select checking accounts, including business ones!
- 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 America: As one of the larger banks in the U.S. Many may choose BoA for the convenience of locations through out 35 states. However, BoA offers limited account options.
Overall, Great Western Bank advertises itself to small businesses and prolonged business owners, especially those 50 years old and older.
They offer a separate senior citizen checking account and consistently encourages older business workers to bank with them. The most ideal would be to invest in a CD for your agribusiness needs as it offers a competitive APY.
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.