Commercial Bank of California Review 2023

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Commercial Bank of California: Overall Rating

Commercial Bank of California Pros and Cons

About Commercial Bank of California

Commercial Bank of California is a Hispanic American-owned bank with business banking products. It has six branches in Southern California and two ATM locations.

If you have questions or need customer service support, you can call or email Monday to Friday from 9 a.m. PST to 4 p.m. PST.

Commercial Bank of California currently has a mobile app on the Google Play store that hasn't been rated. It only has an app designed for iPads in the Apple store, which also hasn't been rated. 

Commercial Bank of California is FDIC-insured with individual accounts protected up to $250,000 and joint accounts secured up to $500,000.

The Role of Hispanic American-led Institutions

Hispanic American-led financial institutions provide local services and products to largely Hispanic American and underserved communities. These banks are often more closely tied to these communities than national banks. 

Commercial Bank of California has locations in Anaheim and Los Angeles. According to the US Census, Hispanic and Latino people make up the largest racial and ethnic group in these cities. 

Is Commercial Bank of California Trustworthy?

The Better Business Bureau rates bank based on how the financial institution deals with customer issues. We usually include ratings from the BBB, but the Commercial Bank of California hasn't been rated yet by the BBB. 

Commercial Bank of California hasn't experienced any public controversies. If you'd like to get a better understanding of whether a bank will be a good fit for you, you can talk to other business owners about their past experiences with the bank or read online customer reviews. 

Commercial Bank of California FAQs

Is Commercial Bank of California legit? 

Commercial Bank of California is a legitimate bank. Its bank accounts are FDIC-insured for up to $250,000 per depositor, per category. Federal insurance protects insured deposits if a financial institution is shut down.

How big are Commercial Bank of California's assets?

As of June 30, 2023, the total assets of Commercial Bank of California were $2.3 billion. 

Who is the CEO of Commercial Bank of California?

Ash Patel is the CEO of Commercial Bank of California.

Commercial Bank of California Account Reviews

Commercial Bank of California Business Savings Account

You may like the Commercial Bank of California Business Savings Account if you can maintain at least Commercial Bank of California Business Savings Account in your account daily — that way, you can avoid the monthly maintenance fee. 

The minimum opening deposit is also steep, so you'll want to consider other options if you'd prefer to open an account with less than Commercial Bank of California Business Savings Account. 

Commercial Bank of California Business Checking Account

The Commercial Bank of California Business Checking Account is a solid option if you're looking for a standard business checking account with a low minimum opening deposit. 

To avoid the Commercial Bank of California Business Checking Account - Fees Display, you need to keep at least $2,500 in your account daily or $5,000 in your account monthly. There are also additional fees for insufficient funds, exceeding the 100 monthly transaction limit, depositing cash, or any incoming or outgoing wire transfer fees. 

Commercial Bank of California Business CD

Commercial Bank of California Certificate of Deposit are available in terms as short as seven days to up to three years. You'll need to open a CD with a minimum of Commercial Bank of California Certificate of Deposit, which is high compared to other banks. 

If you're looking for terms longer than three years, you'll have to consider other options.

Commercial Bank of California Business Money Market Account

The Commercial Bank of California Business Money Market Account comes with paper checks, so you'll have easier access to your account compared to a traditional savings account. 

However, just like the checking account, you'll want to pay attention to monthly bank maintenance fees. You'll need to maintain at least Commercial Bank of California Business Money Market Account in your account daily or $5,000 in your account monthly to waive the monthly maintenance fee. 

How Commercial Bank of California Compares

Commercial Bank of California vs. First Citizens Bank 

If you frequently travel throughout the US, you'll prefer First Citizens Bank. It has branches and ATMs in 19 US states. Meanwhile, Commercial Bank of California is a local financial institution primarily located in Southern California. 

First Citizens Bank First Citizens Bank Business Checking Account - Brand Name may also offer a more suitable checking account if you need to make more than 100 transactions per month or want to avoid paying possible monthly maintenance fees. At Commercial Bank of California, you'll need to meet certain requirements to waive the fee.

First Citizens Bank Business Banking Review

Commercial Bank of California vs. OneUnited Bank

Commercial Bank of California and OneUnited Bank are designated as "minority depository institutions" by the FDIC. While these banks may not have a large branch or ATM network, both provide services and products for underserved communities. 

Commercial Bank of California has more branches in  California than OneUnited Bank so it may be a more convenient option if you prefer a larger branch presence in the state. United Bank has two locations in the Los Angeles area, three in Boston, and one in Miami. 

Commercial Bank of California is also a better option if you'd like to earn a higher APY on business savings or money market accounts. 

OneUnited Bank may be worth considering if you're looking for personal banking options that are easy to open. For example, the bank offers second chance banking, which is a type of bank account you can open if you have a negative banking history. 

OneUnited Bank Review

Why You Should Trust Us: How We Reviewed Commercial Bank of California

At Personal Finance Insider, we use a scale of 0 to 5 stars to rate accounts. We have a bank account methodology that considers minimum opening deposits, customer support availability, mobile app ratings, and the ethics of a company for all accounts. We will also review additional features specific to the type of bank account to determine a rating. 

For example, for a business checking account, we'll consider monthly service fees, transaction limits, and ATM/network fees. Meanwhile, for business savings accounts, we'll look at interest rates and monthly service fees.