Banc of California started in 1941 with headquarters in Santa Ana, California. It manages $10 billion in assets along with $7 billion in deposits, ranking it as a large bank. Banc of California does not have the same customer service perks that others do. It is a traditional brick-and-mortar bank, which means easier access to service representatives at a physical location, in addition to its online and mobile apps. With a commendable 4.3 out of 5 stars, Banc of California is a solid contender in your bank search.
Banc of California provides customers with a full suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, brokerage accounts, mortgage products and credit cards. Banc of California has a fair savings rate, which means other popular banks have higher rates. If you're looking for a checking account for everyday use, Banc of California's standard checking account does not have a monthly fee. Using the same bank for checking and savings is ideal for getting the highest interest rates on your money while maintaining access to your funds without having to wait for money to transfer between accounts.
Banc of California is a brick-and-mortar bank, with 37 total bank locations in California. With mobile and web apps, Banc of California makes mobile banking convenient, even on the go. It does not have all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday, 7:00 a.m. to 6:00 p.m. PT; Saturday, 9:00 a.m. to 1:00 p.m. PT.
Banc of California gets fairly high praise from customers for its online presence: the Banc of California mobile app is rated at 3.0 out of 5 (out of 85 ratings on iOS and Android) compared to the national average of 3.8. Banc of California's mobile app allows you to control your funds by reviewing account balances, sending and receiving funds as well as accessing support representatives. Banc of California gets an excellent consumer satisfaction rating due to relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Accounts||0.10% APY||$100||Compare Offers|
|Certificates of Deposit|| ||$1 for all tiers||Compare Offers|
|Money Market Accounts|| || ||Compare Offers|
|Checking Accounts||0.05% APY||$1||Compare Offers|
Banc of California has several deposit products including savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. Banc of California does not have the best savings rate, which means you should think about looking elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Banc of California's CD rates are competitive in comparison to other U.S. banks.
With a savings rate of 0.10%, Banc of California ranks below the mean compared to other U.S. banks. Its one-year CD earns at a rate of 1.00% and the five-year CD earns at a rate of 3.00%, while its highest-yielding money market account has an APY of 0.20%. It has a fair savings rate compared to the average savings account. Consider other options to earn more on your deposits.
Compare Banc of California to Other Competitive Offers
Banc of California charges its customers extremely low fees in comparison to the average U.S. bank. With no monthly fee, Banc of California is perfect for people who want a basic banking experience. For those who will need cash in a pinch, Banc of California is perfect because it offers no ATM fees.
Banc of California is a large bank owning assets totaling $10 billion and $7 billion in deposits. It has an excellent Texas Ratio of 1.82%, denoting an exceptionally low chance of failure. Additionally, Banc of California is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.
Find a Banc of California Near Me
Banc of California has 37 locations across the U.S.