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finder.com’s rating: 3.0 / 5.0
★★★★★
N/A
APY
$3
Fee
$25
Minimum deposit to open
Review by
Shannon Terrell is a writer for Finder who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.
The Umpqua Grow Savings account is best for those looking to grow their money with low and waivable fees.
However, there are limited bank locations, so you may want to look elsewhere if you aren’t in any of the five states it serves. Umpqua also doesn’t list its interest rates, so you may get stuck with a low rate.
To complete your application, you’ll need to provide the Umpqua bank with the account number and routing number you’ll use to fund the savings account.
To verify your account, Umpqua will make two test deposits and matching withdrawals of less than $1 to your funding account. These deposits and withdrawals typically take up to three business days to appear in your external account.
After you’ve verified the test deposits, activate and fund your Umpqua Grow Savings.
Before you apply for an Umpqua Grow Savings, you need to:
You’ll need the following information during the application process:
In addition to ATM and branch access to your cash, you get:
If you prefer a higher yield savings account, you’ll want to keep looking. As always, compare your options when choosing a savings account.
You can access the funds in your Umpqua Grow Savings by:
You can reach Umpqua’s customer service in one of two ways:
★★★★★ — 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.