The most notable feature that Union Bank has to offer is designing your own checking account! To find out if Union Bank is right for you, continue reading the review below.
Union Bank offers simple banking accounts for all kinds of people at any age. Children and teenagers can even start their own savings accounts, but they will have to look further into these options.
With the Banking By Design checking account option, you can add certain features to your checking account to function as a combined checking and savings or whatever else.
If you prefer a basic approach to banking, then consider the benefits that Union Bank has to offer.
Checking Account Options
With each Union Bank checking account option, it offer mobile banking making it easy to check balances, pay bills, transfer funds, and activate your bank cards.
This checking account comes with a monthly fee, but you can waive it by having $50,000 in combined Union Bank deposits. Another option is to have a Union Bank mortgage set up on autopay.
You will also need $1,000 to open this checking account.
This account contains access to unlimited features such as in-branch banking, check supply and an access to one linked checking or savings account.
Although there are free of charge, there are, however, exclusive benefits that has a monthly charge.
These benefits include two non-Union Bank ATM transactions, incoming wire transfers, cashier’s check or money orders, all free of charge.
To waive the monthly fee, you have to have a combined direct deposit of $500 or a combined balance of $5,000.
You will need $100 as a starting balance to open this account.
With this account, Union Bank allows you to design your own checking account. Aside from the basic features that each Union Bank account has, you can add onto it.
However, there is a cost per month for each additional benefit.
You will need $100 to open the account, but you can waive the monthly fee with a $250 monthly direct deposit.
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Savings Account Options
Union Bank has very few saving account options, and two of them function as money markets, which means these saving accounts allows you to earn interest as a money market rate.
If you are someone who don’t have a lot of money to save in the first place, then this account would be the most beneficial.
To open this account, you only need $50. From there you will have access to different interest rates.
To waive the monthly fee, you will need at least a balance of $300.
With only just $1, you can start a savings account for your children ages 8-12 years old, and teens ages 13-17 years old. This allows your kids to have access to a checking account on their own as well.
All these accounts must be jointed with a parent or guardian.
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With the American Express® High Yield Savings Account:
• Earn 3.75% APY as of 3/16/23 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
With the CIT Bank Savings Builders account:
• Earn a top tier, competitive APY on your money—one of the top savings rates in the nation. Earn up to 1.00% APY on your funds - grow your savings faster.
• Build a habit of savings. Pay yourself first. Start with $100 per month and build your habit of savings-—all while getting a top rate.
• FDIC Insured
Open a Discover Online Savings Account for all these features:
• Earn $200/$150 Bonus with promo code HMB223 by 06/15/2023
• Earn high interest rate of 3.60% 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
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code HMB223 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 6/15/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice.
• Earn up to 0.61% APY with interest compounded daily and no monthly fees with the Axos Bank High Yield Savings account
• No minimum balance requirements
• Free ATM card upon request
• $250 minimum opening deposit
• Free Incoming Wires
Money Market Account Options
Money Market accounts allow for a higher yield and gives access to your funds with either checks or a bankcard. Union Bank offers savings accounts that act as money market accounts, earning competitive interest rates instead.
Since this savings account earns money market interest rates, you will need $2,500 to open it. You can earn competitive interest rates as you deposit more money into this account.
This account also comes with written paper check privilege and you can write up to 6 checks per month.
To waive the monthly fee, you will need at least a balance of $2,500.
You need $2,500 to open this account and you’ll have to maintain at least a $2,500 balance to waive the maintenance fee.
You can write up to six checks from this account per month. Your money will earn competitive interest rates in this account.
You will need to link a Union Bank checking account to qualify for this account.
To waive the monthly fee, you will also need to have a minimum of $10,000.
This account also comes with check writing privilege and you can write up to 6 per month.
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• Earn 0.25% APY with the Axos Bank High Yield Money Market
• FDIC Insured
• Check writing privileges
• No monthly maintenance fees
• No minimum balance requirements
• Debit card transactions
• Minimum Balance Required to Open the Account: $ 1000.00
• Get started and open a Discover Money Market Account in 3 easy steps.
• Available nationwide online
• Earn high yields with flexible access to your cash.
• Earn 3.55% APY balances $100,000 and over
• Earn 3.50% APY balances under $100,000
• Open with as little as $2,500.
• No hidden fees. No surprises.
• Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs
With the CIT Bank Money Market Account, you can earn a competitive interest rate and access your money easily.
• Earn 1.55% APY on your funds
• One of the nation's top rates — several times the national average.
• Get up to 6 digital transfers/withdrawals per statement cycle
• Save smart and get more for your money
• Higher rates than traditional banks
• Get 24/7 Account Access
• Secure banking features
• Open with as little as $100
• FDIC insured
CD Account Options
Union Bank doesn’t offer a lot of CD options, but their CD do vary from 7 days to 5 years. Each of their CD earn a fixed interest rate, and they are based on tiers.
You can open most Union Bank CDs with just $350.
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• 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 2.00% APY up to 4.75% 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 up to 4.65% 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!
With the CIT Bank No-Penalty 11-Month CD:
• Earn 4.15% APY on your funds with just a $1,000 minimum deposit.
• The perfect balance between a great fixed rate and flexible money access.
• Access funds, if needed. No penalty.
• No opening or maintenance fees
• Shorter 11-month timeframe and a great APY
• If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received. No penalty. No problem. It's the security of a CD with the flexibility to access your funds early if you need them.
Reasons To Bank with Union Bank
- You can link your savings account to your checking account to ensure overdraft protection. Union bank will transfer funds from your linked accounts. There is an overdraft transfer fee should you need to opt for it.
- Set up automatic transfers from your checking to savings account and Union Bank will take care of the rest for you.
- Union Bank encourages kids and young teens to start saving up with a minimum opening deposit of only $1. They have a Kidz Savings for ages 8-12 years old, and Teen Savings for 13-17 year olds. Each of these banking services allows them to access their own checking account. However, all of these accounts must be joined with a parent or guardian.
- Union Bank’s deposits are FDIC insured up to $250,000 per account.
- College students can open a free “Ready to Go” Checking account. As long as the student is actively attending college, they are eligible to apply. There is, however, a $100 minimum deposit to open this account though.
- If you deposit your checks with the mobile app before 9 PM PST, your funds can be distributed to you the following business day.
- You can send money to your friends, family or anyone else through Union Bank’s mobile app.
- If you have a Priority Checking account, you can gain access to the Priority Banking Client Services team. You can also gain access by having an overall balance of $50,000 in your accounts or link a Union Bank mortgage.
- You can change banks with Union Bank; all you have to do is fill out a Direct Deposit Authorization form and Automatic Payment Authorization form. Once your past transactions have been cleared, you then fill out the Account Closure form and the switch should happen.
Reasons Not To Bank with Union Bank
- All features in the Union Bank checking accounts do require you to pay for them, so consider your options carefully.
- Union Bank only has locations in 7 states. If you don’t live in Illinois, Georgia, California, Washington, New York, Oregon, or Texas, there won’t be a physical Union Bank in your area. But, if you prefer online banking more, then this isn’t a big concern.
- In order to qualify for the Union Bank Money Market, you must have a checking account with Union Bank.
- Union Bank would not be the best choice for CD users since they don’t offer a lot of CD options.
Union Bank Routing Number
The routing number varies depending on state and region. You can find your routing number on the lower left corner of your UnionBank check.
Contact Customer Service
Union Bank’s customer service has different numbers depending on what state you live in. Check out their customer service page to find out more.
How Union 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.
- TD Bank: TD Bank has similar options to Union Bank, but they offer bonuses for signing up for a checking account. They have various account options that suit all kinds of consumers as well.
- BMO Harris Bank: BMO Harris has a fee-free ATM network with more than 43,000 participating ATMs.
- 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.
For those who aren’t looking for complex checking or saving account options, but are still interested in earning high interest rates, then Union Bank may suit your needs.
If you prefer a more manual way of banking, the “Banking By Design” checking account is a unique option for those who prefer combined checking accounts but don’t necessarily want everything that a normal tiered package might offer.
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 Union Bank, see our list of the latest Union Bank Bonuses! For more options from a variety of banks, see our list of the best bank promotions!
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