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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)
$10
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+
$0
$250
No monthly maintenance fees. No minimum balance requirements. Interest compounded daily.
Chime Savings
Finder Rating: 4.6 / 5: ★★★★★
Chime Savings
0.50%
$0
$0
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
0.40%
$0
$0
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
0.20%
$0
$100
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
0.25%
$0
$0
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.
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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.

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