Bank of the West Money Market Account

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in Money Market Accounts from Bank of the West

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Highlights
APY (Annual Percentage Yield)	0.02% - 0.15%
Minimum Balance to Earn APY	$0.01
Minimum Opening Deposit	Starting at $100

Bank of the West Money Market Account Review

Bank of the West Money Market Account is offered by Bank of the West, founded in 1874 and based in San Francisco, CA. Bank of the West Money Market Account is available in 19 states across the USA.

Key Takeaways

Very high APY. This account offers an annual percentage yield of up to 0.15%, which is much higher than the national average for a money market account.However, you must keep a minimum balance of $0.01.
Charges a monthly fee. This account charges a monthly service fee of up to $15, but the fee is waived if you keep a minimum balance of $5,000.
Small minimum initial deposit. You only need $100 to open an account.

Pros & Cons of Bank of the West Money Market Account

Pros	Cons
High-interest yield. Does not offer mobile check deposits.	No signup bonus. Does not provide a debit card. Not FDIC-insured. Only available in 19 states. Monthly service charge.

Bank of the West Money Market Account FAQ

Are money market accounts from Bank of the West federally insured?

No, your Bank of the West money market accounts are not insured by a federal insurance agency. This means that if Bank of the West were to fall into financial difficulties, your deposits are not covered by a government backed insurance fund like the FDIC or NCUSIF.

What are the interest rates for Bank of the West money market rates?

Bank of the West money market offers an APY starting at 0.02% and ranging up to 0.15% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $0.01.

Bank of the West money market Rates and Terms
Rates	Amount
APY (Annualized Percentage Yield)	0.02% - 0.15%

What are the fees for Bank of the West Money Market Account?

This account charges a monthly maintenance fee of up to $15. You can avoid this fee by maintaining a balance of $5,000.

Bank of the West will charge you a $15 fee if you exceed your maximum number of monthly transactions.

Bank of the West Money Market Account Fees
Fees	Amount
Monthly Fee	up to $15
Paper Statement Fee	N/A
Excess Transaction Fee	$15

What is the minimum balance for Bank of the West money market?

Minimum deposit of $100. You must make an initial deposit of at least $100 to open this account.

Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $5,000.

Interest rate minimum balance of $0.01. You must keep the account balance above $0.01 to earn interest.

What features and perks does Bank of the West money market offer?

This account includes the following features:

What is the support contact email?

The support contact email for this business credit card is social@bankofthewest.com.

How to open an account with Bank of the West

Visit the Bank of the West website.
Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
Check the information is accurate and submit your application.

Bank of the West Money Market Account Disclosure: There are 3 ways to waive the monthly fee: Maintain an average monthly balance of $5,000 OR Use Auto-Save to set up a recurring monthly transfer of $75 or more from any Bank of the West personal checking account to your Choice Money Market Savings account OR Maintain a Bank of the West Premier Checking Account.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.