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Bank of the West Choice Money Market Savings account review

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Earn up to 0.50% APY depending on your balance and other linked Bank of the West accounts.

This money market account offers tiered rates depending on your balance and ways to avoid paying the monthly fee. But you’ll likely find much higher interest rates with other banks.



$15 per month



Minimum deposit to open


APY0.36% on balances of $100,000+
0.30% on balances of $25,000 to $49,999
0.05% on balances of $0.01 to $9,999
Fee$15 per month
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 allows unlimited ATM transactions so you can access your money when you need it. But with a maximum APY of 0.50%, you may be able to earn more interest if you were to open a similar account at a different institution — especially if you’re willing to pay a monthly maintenance fee.

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 while you save and offers other benefits:

  • Autosave. Set up automatic transfers from another account to make recurring contributions to your savings.
  • Digital platform. Bank of the West’s online and mobile banking systems allow you to pay bills, deposit checks, track spending, create budgets and more.
  • Avoid monthly fees. Bypass the monthly fee when you meet any of its three conditions.

What should I look out for?

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

  • High monthly service fee. If you’re unable to meet one of the three fee-waiver conditions, you’ll be charged $15 per month.
  • 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. This account pays far less interest than many other options, like the 2% you could earn on other online 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 rate (APY) Fee Minimum deposit to open
BBVA Money Market
$15 per month
(can be waived)
Earn one of the highest annual percentage yields (APYs) if you live in one of 42 eligible states, and access your money by ATM, check or bill pay.
UFB Direct Premium Money Market Account
$10 per month
(can be waived)
Enjoy the security and earning potential of a savings account while maintaining the flexibility to write checks.
CIT Bank Money Market
A savings account with a higher-than-average rate and minimal fees.
CIT Bank Savings Builder High Yield Savings Account
A super-high interest rate if you're in the habit of saving at least $100 per month or have $25K in the bank.
Huntington Relationship Money Market
$25 per month
(can be waived)
This money market account includes an ATM card and a 24-hour overdraft grace period.

Compare up to 4 providers

How do I apply?

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

  1. Visit the Bank of the West website and click Banking.
  2. Click Savings Accounts.
  3. Scroll down to Choice Money Market Savings and click Apply Online.
  4. Enter your ZIP code, then click Get Started.
  5. Enter your personal information and click Continue.
  6. Enter your employment information and any other details, then click Continue.
  7. 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

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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