Bank of the West Money Market Account Reviews (Dec. 2020) | Money Market Accounts

Highlights
APY (Annual Percentage Yield)	0.05% - 0.21%
APY Minimum Balance	$0.01
Minimum Initial Deposit	N/A

Bank of the West Money Market Account Review

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

Bank of the West Money Market Account FAQ

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

Yes, your Bank of the West money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What are the Bank of the West Money Market Account rates?

Bank of the West Money Market Account offers an APY starting at 0.05% and ranging up to 0.21% (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 Account Rates and Terms
Rates	Amount
APY (Annualized Percentage Yield)	0.05% - 0.21%

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

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.

Federal regulations limit the number of transactions you can make from your money market account to six per month.

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 Account?

No minimum initial deposit. Bank of the West does not require a minimum initial deposit to open an account.

Monthly maintenance minimum balance of $5,000. You can avoid the monthly fee if you keep a minimum balance $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 Account offer?

This account does not seem to offer any of the features and perks we track.

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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