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Bank of the West Classic Savings account review

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A low $25 minimum opening deposit makes it easier to start saving.’s rating: 3.1 / 5.0


Use Bank of the West’s autosave feature to set up monthly transfers to make saving a habit. However, with only a 0.01% APY and service fees, you could save more with another account.



$5 per month



Minimum deposit to open


Fee$5 per month
To waive the fee· Primary account holder is 18 years old or younger OR
· Maintain an average monthly balance of $300 ($50 in Minnesota) OR
· Use Auto-Save to set up recurring monthly transfers of $25 or more
Minimum deposit to open$25
Interest compoundingDaily
Monthly transaction limit6
Fee per transaction over the limit$15
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

If you have a little bit of money to start a savings account and can avoid the monthly fee, this account can get you on the path to growing your hard-earned cash for the future. However, its limited availability and low APY make for a fairly basic account. You may find providers with similarly low required opening balances that provide higher rates and more features.

What are the benefits of the Bank of the West Classic Savings account?

The Classic Savings account is issued by the FDIC-insured Bank of the West and it comes with a suite of perks to help you save:

  • Autosave. Set up monthly transfers to help your savings grow faster.
  • Low opening deposit. Open an account with as little as $25.
  • Avoidable monthly fee. Bank of the West offers three ways to avoid the monthly fee.
  • Unlimited ATM withdrawals. While savings accounts are limited to six withdrawals a month, this account allows you to make as many ATM withdrawals as you need.

What should I look out for?

Be careful of the fees and limitations that could prevent you from saving more:

  • Monthly service fee. If you don’t meet one the monthly fee waiver conditions, you’ll be charged $5 per month to keep this account open.
  • High fees. There is a paper statement fee of $3, an incoming wire fee of $15 and a number of other charges that could eat into your balance.
  • Low interest. You’ll only earn 0.01% APY on your balance.
  • Autosave limitations. To use the autosave, you need to transfer at least $25 a month from a Bank of the West checking account.
  • Limited availability. Accounts are only available to residents of Arizona, California, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin and Wyoming.

If you’re outside Bank of the West’s service footprint, or you’re just curious about what else is available, consider comparing your savings options to see what other providers have to offer.

Compare with other savings accounts

Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned More info
Citibank® Account Package

0.13% on $500,000+
0.08% on $25,000 to $99,999.99
0.04% on $0 to $24,999.99
$25 per month
(can be waived)
Go to site
View details
Earn a $400 bonus after opening new eligible checking and savings accounts and completing required activities.
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 $7 per month for Aspiration Plus ($5.75 per month if you pay annually)
Go to site
View details
A spend and save combo account with unlimited cash back rewards and deposits insured by the FDIC. The Aspiration Spend & Save Account is a cash management account offering of Aspiration Financial, LLC, an SEC-registered broker-dealer. Aspiration is not a chartered bank.
CIT Bank Money Market
Go to site
View details
A savings account with a higher-than-average rate and minimal fees.
Chase Savings
$5 per month
(can be waived)
Go to site
View details
A simple savings account with low, waivable monthly fees and a $150 signup bonus when you meet deposit and balance requirements.
CIT Bank Savings Builder High Yield Savings Account

0.55% on $25,000+ or set up a direct deposit of $100+ each month
0.31% on $0 to $24,999
Go to site
View details
No account opening or maintenance fees. Daily compounding interest. Earn one of the nation's top rates
Discover Online Savings Account
Go to site
View details
Take advantage of a high-interest online savings account with no fees, no minimums and more.

Compare up to 4 providers

How do I apply?

Provided that you’re a resident of one of the 19 states Bank of the West operates in, you can 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 “Classic 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.

Bank of the West Classic Savings account application process


Regardless of how you choose to open this account, you’ll need to meet a few eligibility requirements:

  • Deposit at least $25.
  • Be a minimum of 18 years old for online accounts.
  • Reside in one of the 19 states where Bank of the West operates.
  • Be a US citizen.
  • Possess a Social Security number or tax ID.
  • Have state-issued ID.

Required information

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

  • Name
  • Date of birth
  • Address
  • Government-issued ID number
  • Social Security or tax ID number
  • Employment information

How do I deposit or withdraw money?

Once you’ve opened your Classic Savings account, here’s how you can deposit and withdraw 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?

Bank of the West offers easily accessible customer service in case you ever need help with your account:

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

Frequently asked questions

Savings account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

Read the full methodology of how we rate savings accounts.

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