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Review of Pacific Western Bank High Yield Savings Accounts
By: Conor Keenan Last updated on June 28, 2024
Conor Keenan, co-founder of CompareAccounts.com, is a notable personal finance expert, with work seen in The Wall Street Journal, CNN, Fox News, MSN and Yahoo Finance.
Editorial Independence: Our opinions, reviews, and recommendations are our own and not influenced by financial institutions or partners. Partner commissions keep our site free, but our content remains independent and is not commissioned by any partner or financial institution.
Read our review & open a new savings account with confidence. Pacific Western Bank is FDIC insured up to $250,000 per depositor. Fund your new account & take advantage of the power of compound interest today!
Main Benefits You Get with Pacific Western Bank High Yield Savings Accounts
Competitive APY:
Pacific Western Bank offers 5.27% APY exclusively through the Raisin Platform on their high yield savings account
This APY is substantially higher than what you’ll find at most brick-and-mortar banks and even most online banks. The current APY is over 20x higher than the national average.
Low minimum balance requirement:
You can open a savings account with Pacific Western Bank for as little as $1. This makes it easy to open an account quickly and when you’re ready, to fully fund the account to start taking advantage of compound interest.
No monthly maintenance fee:
Everyone hates fees. They destroy your returns and are just a pain in the neck. Thankfully, Pacific Western Bank doesn’t charge any monthly maintenance fees.
Customer service:
Pacific Western Bank has partnered with Raisin to bring it’s first-class savings account to more Americans. Raisin has a supportive, accessible, responsive customer service team based in New York, NY.
FDIC insured:
Pacific Western Bank is federally insured by the FDIC. This covers you for as much as $250,000 per depositor, per institution, in the event of a bank failure. This means that if you have a joint account, you’ll enjoy up to $500,000 federally insured.
Award Winning:
Pacific Western Bank was founded in 1999 and with over $35 billion in assets is consistenly ranked among the best banks in America by Forbes.
Elevate your rate with Pacific Western Bank.
Open Your New Account with Pacific Western Bank Now
Customers Also Viewed These High-Yield Savings Accounts From Our Partners
While Western Alliance Bank’s high-yield savings account is a compelling choice, it’s crucial to consider other options as well. Different banks offer various features and benefits, and exploring these alternatives can help you find the best fit for your financial needs.
APY
4.70%
- High Yield Savings Account
- Balance for APY: $5,000
- 4.70% APY
- No Monthly Service Fees
- Earn a Higher APY with a Higher Min. Balance
- Mobile App Online Banking
- Deposit Checks Remotely & Make Transfers Easily
- FDIC Insured up to $250,000
- Sign Up in Under 5 Minutes
- See Site for Details
On CIT Bank's Secure Site, Member FDIC
APY
4.10%
- High Yield Savings Account
- Min. balance for APY: $0
- Min. Initial Deposit: $0
- 4.10% APY
- 5x National Savings Avg*
- Mobile Check Deposit
- No Monthly Fees
- 100% U.S.-based Customer Service Available 24/7
- Interest Compounded Daily
- FDIC Insured up to $250,000
- See Site For Details
On Discover's Secure Site, Member FDIC
To recap our recommendations.
Best Savings Accounts According To CompareAccounts™
Discover® Online Savings Account: 4.10% APY
U.S. Bank® Money Market Account: up to 4.25% APY
Pacific Western Bank High Yield Savings Account, Powered by Raisin
Pacific Western Bank uses the secure Raisin platform to offer savings products like their high yield savings account to savers nationwide. Customers open accounts at Raisin.com, and the platform manages all aspects of the products offered by Pacific Western Bank, including a customer’s deposits and withdrawals, statements and any customer service needs. In simple terms, Raisin provides you exclusive access to a special selection of Pacific Western Bank products. Best of all, Raisin is completely free!
Security: Funds deposited into any of the products accessible through Raisin are held by federally insured institutions. We use a host of cybersecurity measures to protect your funds and sensitive information.
Choice: Savings products from our network of financial institutions offer flexible terms and some of the most competitive interest rates. You can easily find the right product or mix of products for you.
Convenience: One account to hold all your deposit products. Simplified statements. Easy access to manage your funds – all through a streamlined digital platform.
Service: A supportive, accessible, responsive customer service team based in New York, NY, sets Raisin apart.
Access: Enjoy 24/7 online access to your account and funds.
Raisin Contact Information:
Phone Number: 844-994-EARN (3276)
(Monday to Friday from 9:00 a.m – 4:00 p.m)
Email Address: support.us@raisin.com
Address:
85 Broad Street
New York, NY 10004
See More Reviews
American First Federal Credit Union Review
Chase Bank Savings Account Review
Blue Federal Credit Union Review
CIT® Bank Savings Account Review
Blue Federal Credit Union CD Rates Review
Western Alliance Bank® High-Yield Savings Premier Account Review
*National Savings Rate Average as published by FDIC