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Bank of the West Choice Money Market Savings account review

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Earn up to 0.20% APY depending on your balance and other linked Bank of the West accounts.

This money market account offers tiered relationship rates depending on your balance and the type of checking account you have with Bank of the West. But there’s a $15 monthly fee and you’ll likely find higher interest rates with other banks — even with a top-tiered relationship rate.

Up to 0.08%





Minimum deposit to open


APY0.08% on balances of $25,000+ or 0.20% with Premier Relationship Rate (up to $49,999)
0.03% on balances of $0.01 to $24,999 or 0.05% with Premier Relationship Rate
To waive the fee· Set up autosave and transfer at least $75 from your Bank of the West checking account into this account
· OR maintain an average monthly balance of at least $5,000
· OR link and maintain a Bank of the West Premier Checking account
Minimum deposit to open$100
Interest compoundingDaily
Monthly transaction limit6
More Info

Expert review

Peter Carleton

Review by

Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.

Expert review

This account pays a variable interest rate depending on your balance and the type of Bank of the West checking account you have. It also allows unlimited ATM transactions so you can access your money when you need it. But with a maximum relationship APY of 0.20%, you may be able to earn more interest if you were to open a similar account at a different institution.

How do I open a Bank of the West Choice Money Market Savings account?

Bank of the West allows you to open this account at a branch or online:

  1. Go to the provider’s site and follow the steps to apply.
  2. From Bank of the West’s website, click Banking.
  3. Click Savings Accounts.
  4. Scroll down to Choice Money Market Savings and click Apply Online.
  5. Enter your ZIP code, then click Get Started.
  6. Enter your personal information and click Continue.
  7. Enter your employment information and any other details, then click Continue.
  8. Verify your information, fund your account and submit your application.


To open this account, you’ll need to meet a few eligibility requirements:

  • Deposit a minimum of $100
  • 18 years or older if opening an account online
  • Resident of one of the 19 states Bank of the West operates in
    US citizen
  • Valid Social Security number or tax ID
  • State-issued ID

Required information

Here’s what information you’ll need to provide when you open an account:

  • Name, date of birth and address
  • Government-issued ID number
  • Social Security or tax ID
  • Employment information

What are the benefits of the Bank of the West Choice Money Market Savings account?

The Choice Money Market Savings account keeps your money safe with FDIC insurance and comes with online and mobile banking that allows you to pay bills, deposit checks, track spending, create budgets and more. It also offers these benefits:

  • Autosave. Set up automatic transfers from another account to make recurring contributions to your savings.
  • Relationship APYs. Bank of the West customers with a Premier Checking or Signature Checking account qualify for relationship rates ranging from 0.05% to 0.2% depending on your account balance.
  • Avoid monthly fees. Bypass the $15 monthly fee when you meet any of these three conditions:
    • Use auto-save to make recurring monthly transfers of at least $75 from your Bank of the West personal checking account
    • Maintain an average monthly balance of at least $5,000
    • Have a Bank of the West Premier Checking account

What should I look out for?

There are a few things to look out for if you open this account:

  • Minimum opening deposit. To open this account, you’ll need to make an initial deposit of at least $100.
  • High fees. Using this account could get expensive if you’re not careful. The $3 paper statement fee, $15 incoming wire fee and other charges could add up.
  • Low interest rates. Even the relationship rates are lower than what you’ll earn with other high-yield savings accounts.
  • Autosave limitations. You can only make Autosave transfers from a Bank of the West checking account.
  • Limited availability. Bank of the West’s products are only available in AZ, CA, CO, ID, IA, KS, MN, MO, NE, NV, NM, ND, OK, OR, SD, UT, WA, WI and WY.

Not sure if it’s the right fit? Check out other money market options to find accounts that better suit your financial needs.

Compare with other money market accounts

Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned
CIT Bank Money Market
A savings account with a higher-than-average rate and minimal fees.
Discover Money Market

0.45% on $100,000+
0.40% on $1 to $99,999
This money market account offers a competitive APY.
BBVA Money Market

0.10% on $1,000,000+ for 3 months (0.07% after)
0.08% on $20,000 to $999,999.99 for 3 months (0.05% after)
0.05% on $10,000 to $19,999.99 for 3 months (0.02% after)
$15 per month
(can be waived)
Earn a promotional APY for your first 3 months and access your money by ATM, check or bill pay.
UFB Direct Premium Money Market Account

0.40% on $25,000+
0.10% on $0 to $24,999.99
$10 per month
(can be waived)
Enjoy the security and earning potential of a savings account while maintaining the flexibility to write checks.
Nationwide Money Market Plus
$8 per month
(can be waived)
Enjoy low fees and up to $10.00 domestic ATM fees reimbursed per month.
Axos Bank High Yield Money Market account
Offers the security of traditional savings with the advantage of high interest rates and limited transactions.

Compare up to 4 providers

How do I deposit or withdraw money?

Now that your account is open, here’s how you can access your money:


  • At a branch
  • Online or wire transfer
  • Via direct deposit
  • Mobile check deposit
  • By mail
  • At an ATM


  • At an ATM
  • At a branch
  • Online or wire transfer
  • Bill pay

How can I get in touch with customer service?

If you ever need to get in touch with Bank of the West’s customer service, there are a couple ways you can speak with a representative:

  • Online: Use the live chat option on the website to speak with a representative directly
  • By phone: Call 800-488-2265 Monday through Friday from 4 a.m. to 10 p.m. and Saturday through Sunday from 5 a.m. to 10 p.m. PT.

Frequently asked questions

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