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Compare Union Bank products: Savings, Checking, and CDs

This West Coast bank offers several personal and business products — but APYs are painfully low.

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Union Bank
Union Bank primarily services California, Oregon and Washington. Its best known for its non-network ATM rebates and free basic checking account. But most accounts must be opened in person and APYs top out at 0.50%.

What banking products does Union Bank offer?

Personal banking

  • Bank Freely Checking account. Features no monthly fee or minimum balance requirements, plus two monthly rebates at non-Union Bank ATMs.
  • Priority Banking Checking account. An interest-bearing account with unlimited rebates at non-network ATMs, but you’ll need a Union Bank mortgage or a $25,000 account balance to avoid the $25 monthly fee.
  • Teen Access Checking account. Teens ages 13 to 17 can open this account with an adult joint owner in person.
  • Regular savings account. Features an ATM card, but there’s a low 0.01% APY.
  • Kidz Savings account. There’s no minimum balance requirement or monthly service fee for this savings account for kids ages eight to 12.
  • Teen Savings account. Teens can get a jump start on savings with no minimum balance or monthly fee.
  • Union Bank Money Market account. You’ll need $2,500 to get started and interest rates range from 0.01% to 0.08% depending on your account balance.
  • Union Bank CD. Minimum deposits range from $250 to $2,500 depending on the term, but APYs are weak at 0.05% to 0.50%.

Business banking

  • Business Basics Checking account. Requires $100 to open and features 50 free monthly transactions.
  • Business Extra Checking account. Pay $0 on incoming wires and get free cash deposits up to $20,000, but you’ll need to maintain a $10,000 monthly balance or $20,000 in combined balanced to avoid the $22 monthly fee.
  • Business Savings account. Get started with a $100 opening deposit, but you’ll earn a flat 0.01% APY.
  • Business Money Market account. You’ll need $1,000 to open this account, but its APY ranges are 0.01% to 0.10%.

Other products

  • Credit cards. Offers eight business and personal credit cards, including the Union Bank Secured Visa card.
  • Mortgages. Choose from a range of mortgages including ARM, fixed-rate, FHA, VA and Jumbo loans.
  • Lines of credit. Union Bank offers business loans and home equity lines of credit.
  • Investing. Choose from IRAs, college savings plans and brokerage accounts, or get one-on-one advice from a financial advisor.

Why should I open an account at Union Bank?

Union Bank offers traditional banking features such as FDIC-insured deposits, mobile banking and a Mastercard debit card. But it also has these unique features:
  • Digital wallet. Union Bank offers a contactless-enabled debit card that’s compatible with ApplePay, Samsung Pay and GooglePay.
  • Interest compounded daily. Earn interest even quicker with daily compounded interest.
  • No ATM fees. Union Bank never charges non-network ATM fees and reimburses operator fees — some accounts have a set number of rebates while others are unlimited.

What should I look out for?

Before you open an account with Union Bank, consider these potential drawbacks:

  • Limited locations. Union Bank has branch locations and ATMs in California, Oregon and Washington.
  • In-person applications. You’ll need to visit a branch to open its basic checking, savings, kids and teens accounts and CDs.
  • Low daily withdrawals. You can only withdraw up to $500 a day at Union Bank ATMs.
  • Low APYs. Most of Union Bank’s APYs are at 0.01% — lower than the national average.

Compare Union Bank to the competition

Name Product Annual percentage yield (APY) Fee Minimum deposit to open
Aspiration Spend & Save Account
Finder Rating: 3.8 / 5: ★★★★★
Aspiration Spend & Save Account

1.00% on $0 to $10,000 but you’ll need to be enrolled in Aspiration Plus and make at least $1,000 in debit card purchases a month
$0 per month or $15 per month for Aspiration Plus ($12.50 per month if you pay annually)
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $100 bonus when you spend $1,000 in your first 60 days.
Axos Bank High Yield Savings
Finder Rating: 4 / 5: ★★★★★
Axos Bank High Yield Savings

0.61% on $0 to $24,999
0.25% on $25,000 to $99,999
0.15% on $100,000+
No monthly maintenance fees. No minimum balance requirements. Interest compounded daily.
Chime Savings
Finder Rating: 4.6 / 5: ★★★★★
Chime Savings
Grow your savings automatically with recurring transfers, round-ups on debit card purchases and 0.5% APY.
Discover Online Savings Account
Finder Rating: 4.6 / 5: ★★★★★
Discover Online Savings Account
Take advantage of a high-interest online savings account with no fees, no minimums and more.
UFB Direct High Yield Savings
Finder Rating: 3.6 / 5: ★★★★★
UFB Direct High Yield Savings
Earn an APY when your balance is higher than $10,000 with this no-monthly-fee savings account.
SoFi Money
Finder Rating: 4.3 / 5: ★★★★★
SoFi Money
SoFi Money® is a cash management account that charges no account fees to save, spend, and earn cash back rewards when you spend on brands you love.

Compare up to 4 providers

Union Bank customer service

Call 800-238-4486 to chat with a Union Bank customer service representative weekdays from 7 a.m. to 9 a.m. and Saturdays from 8 a.m. to 5 p.m. Existing customers also have the option of sending a secure message through their account.

Bottom line

If you’re looking for a West Coast bank with standard checking and savings account options, Union Bank may be right for you. But if you’re after higher APYs, shop around for other accounts.

Frequently asked questions

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