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finder.com’s rating: 2.8 / 5.0
★★★★★
Bank of the West’s 1% for the Planet checking account helps you be more mindful about how your spending impacts the environment. Its app helps you track your carbon footprint. Plus, Bank of the West donates 1% of its profits on your account to 1% for the Planet — an organization that coordinates funding for environmental nonprofits. But it’s only available in certain states, and there’s a $10 fee if you don’t make qualifying deposits each billing cycle.
$10 per month
Fee
N/A
APY
$0
Minimum deposit to open
APY | N/A |
---|---|
Fee | $10 per month |
To waive the fee | if you’re under 25 years old or you make at least one deposit of any amount every billing cycle |
Minimum deposit to open | $0 |
ATMs | more than 750 Bank of the West ATMs |
ATM transaction fee | $0 |
Out-of-network ATM fee | $3 |
Overdraft fee | $35 |
Review by
Michael Benninger is a personal finance writer at Finder. He is a former credit analyst and longtime freelancer whose articles have been published by Intuit, Blinkist, Business Insider and the Los Angeles Times. When he’s not writing, you can usually find him watching movies, enjoying the outdoors or boarding planes to distant destinations.
Bank of the West’s 1% for the Planet checking account can help you monitor the carbon impact of your purchases while also raising funds for environmental nonprofits. While there’s a $10 monthly fee you need to watch out for, you can waive it when you make a direct deposit each cycle or if you’re under 25 years old.
But Bank of the West isn’t an option in most states. If you don’t live in any of the 19 states it services, you’ll want to look at other checking account options. And if you want to start being more mindful about how your purchases impact the environment, you can look at Aspiration’s spend and save account.
Applying for Bank of the West’s Planet Checking account takes about 10 minutes:
You need to meet the following eligibility requirements to open a 1% for the Planet account:
In addition to the above eligibility criteria, you also need to provide the following details:
You’ll have access to the following benefits when you open an account:
There are a few drawbacks to consider before opening your 1% for the Planet account:
Bank of the West’s 1% for the Planet account comes with a debit card made of biodegradable PVC. You can use this card for free at more than 750 Bank of the West ATMs, though you’ll have to pay a $3 transaction fee at any non-network ATM.
When you open a 1% for the Planet checking account, you can deposit and withdraw funds in a few standard ways:
Aside from its 1% for the Planet checking account, Bank of the West also offers these two checking account options:
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.