PacWest Bank Money Market Deposit Account

PacWest Bank Money Market Deposit Account Review

PacWest Bank Money Market Deposit Account is offered by PacWest Bank, a bank founded in 1999 and based in Los Angeles, CA. PacWest Bank Money Market Accounts are available in 50 states (and Washington, DC).

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 5.25%, which is much higher than the national average for a money market account.
• No APY minimum balance. There is no minimum amount you have to deposit to start earning interest with this money market account.
• Small minimum initial deposit. You only need $1 to open an account.

Pros & Cons of PacWest Bank Money Market Deposit Account

PacWest Bank Money Market Deposit Account FAQ

Are money market accounts from PacWest Bank federally insured?

No, your PacWest Bank money market accounts are not insured by a federal insurance agency. This means that if PacWest Bank 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 PacWest Bank Money Market Accounts rates?

PacWest Bank Money Market Accounts offers an APY of up to 5.25% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a balance of $. This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

What are the fees for PacWest Bank Money Market Deposit Account?

PacWest Bank Money Market Deposit Account does not charge a monthly maintenance fee.

What is the minimum balance for PacWest Bank Money Market Accounts?

Minimum deposit of $1. You must make an initial deposit of at least $1 to open this account.

What features and perks does PacWest Bank Money Market Accounts offer?

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

What is the customer service phone number?

The customer service number for this account is (213) 430-7000.

How to open an account with PacWest Bank

• Visit the PacWest Bank 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.