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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.
What banking products does Union Bank offer?
- 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 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%.
- 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
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.
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.
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