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Pacific Western Bank is a brick-and-mortar financial institution with 67 locations throughout California, as well as one branch in Denver, Colorado, and another in Durham, North Carolina.
Pacific Western Bank primarily offers business banking services, but it has personal banking, too. You must open a Pacific Western Bank personal savings account at a branch. If you don't live near a location, Pacific Western Bank also lets you open an account online from anywhere in the US through the platform Raisin.
Pacific Western Bank Savings Rates
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You also might consider exploring the
Through Raisin, you can use one platform to find, fund, and manage multiple types of savings accounts from different financial institutions. Keep in mind Raisin doesn't have any checking accounts, so it may not be the best choice if you prefer keeping all your banking with one institution.
Pacific Western Savings Rates Pros and Cons
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Pacific Western Bank FAQs
Is Pacific Western Bank legit?
Pacific Western Bank is a legitimate financial institution. Its bank accounts are FDIC-insured for up to $250,000 per depositor, per category. Federal insurance protects your insured deposits if a bank fails.
Who bought Pacific Western Bank?
In July 2023, Pacific Western Bank announced it's merging with Banc of California. Pacific Western Bank and Banc of California will operate under the Banc of California name and brand once the transaction is complete.
What is the savings rate at Pacific Western Bank?
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How Pacific Western Bank Savings Rates Compare
Pacific Western Bank Money Market Account vs. Discover Savings
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You still might consider Discover if you'd like to open a checking account at the same bank. Discover has a checking account that offers cash-back rewards. This account also has
Pacific Western Bank Money Market Account vs. Ally Savings
Ally savings rates are lower than the interest rate of the
If you're interested in opening a checking account or exploring more specialty CD options, then Ally might be a better option. The
Ally also has a Raise Your Rate CD, which might be appealing if you want a CD that allows you to request a one-time rate increase if CD rates rise. Raisin only has traditional and no-penalty CDs right now.
Why You Should Trust Us: How We Reviewed the Pacific Western Bank Money Market Account
At Personal Finance Insider, we rate products on a scale from zero to five stars. We use a bank account methodology that compares and contrasts the features and fine print of various products to help determine if the account may be right for you.
For a money market account, we'll look at features such as the interest rate and minimum opening deposit.