East West Bank, established in 1973 and headquartered in Southern California, is a publicly traded bank primarily serving the Chinese and Asian communities in the United States. The bank has over 120 branches in the U.S., China, and Hong Kong, serving more than 500,000 customers with a variety of financial products, including savings accounts, checking accounts, credit cards, loans, and wealth management services. This article introduces several savings accounts and credit cards from East West Bank, discusses common fees associated with accounts, the account opening process, and provides information about customer service and online banking.
| Table of Contents |
|---|
East West Bank Accounts
First, let’s briefly introduce a few checking and savings accounts offered by East West Bank:
| Account Type | Account Features | Account Opening Requirements and Monthly Fees |
|---|---|---|
| Value Checking¹ |
|
|
| Premier Checking² |
|
|
| Premier Savings³ |
|
|
| CDs⁴ |
|
|
(Data checked on: August 28, 2024)
East West Bank Credit Cards
In addition to the VISA debit card that comes with checking accounts, you can also apply for a UnionPay prepaid card or a VISA credit card based on your personal needs:
| UnionPay Prepaid Card⁵ | Secured Credit Card⁶ | |
|---|---|---|
| Annual Fee | $0 | $0 |
| Application Requirements |
|
|
| Credit/Spending Limit | Recharge up to $1,000 weekly; balance can reach up to $5,000 | Up to $10,000 approved (must provide the same amount as a security deposit) |
| Overdue Payment Annual Interest Rate | Not applicable | 20.99% |
| Features |
|
|
(Data checked on: August 28, 2024)
East West Bank Fees
Below are the common fees associated with East West Bank accounts:⁷
| Service | Fee |
|---|---|
| Account Opening | Free |
| Account Maintenance Fee | $3 to $10 per month (waived if balance requirements are met) |
| ATM Withdrawal | Free at East West, Allpoint, and MoneyPass ATMs
Other ATMs: first two withdrawals free per month, $1 thereafter |
| Wire Transfer Fees | Incoming: $10
Outgoing: $25 to $40 (depending on destination and currency); only $12 to $16 for transfers to China (depending on state) |
| Foreign Currency Exchange Fees | Buying: $7 to $20 depending on currency
Selling: $5 to $10 |
| Check Order Fee | Varies |
| Overdraft Fees | $35 each time, up to a maximum of $140 per month |
(Data checked on: August 28, 2024)
East West Bank Customer Service
East West Bank offers customer service through the following channels:
- Phone: 1-888-895-5650
- Online Banking: Access your account online for balance inquiries and transactions
- Mobile App: Available on iOS and Android for easy account management
- Branch Locations: In-person assistance at local branches
East West Bank Reviews
Here are some common reviews about East West Bank:
- Pros: Excellent customer service, convenient online banking, competitive interest rates
- Cons: Limited ATM network, high fees for some services
East West Bank Online Banking Services
East West Bank provides robust online banking services, including:
- Account access and management
- Transfer funds between accounts
- Bill payments
- Mobile check deposit
How to Open an East West Bank Account
To open an East West Bank account, visit their official website or a local branch and provide the necessary documents (such as identification and proof of residence). The process is usually quick and straightforward.
Is East West Bank Safe?
Yes, East West Bank is FDIC insured, meaning your deposits are protected up to $250,000. The bank employs strong security measures to safeguard your financial information and accounts.
