Founded in 1993, Opus Bank has $7 billion in assets and deposits totaling $6 billion, ranking it as a large bank. Opus Bank, whose headquarters are in Irvine, California, does not have the customer service bells and whistles of other banks. 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. We ranked the bank at a 3.7 stars out of 5, suggesting Opus Bank is an acceptable bank choice, but may leave you wanting more.
Opus Bank offers a variety of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. Opus Bank has a fair savings rate compared to the average savings account. The bank's standard checking account features a monthly fee of $9.00, which may be better for customers that will always carry a large balance. Using the same bank for checking and savings is ideal for getting the highest interest rates on your money while maintaining easy control over your money.
Opus Bank is a brick-and-mortar bank, with 52 total branches in Arizona, California, Oregon and Washington. It also offers access to a mobile app for straightforward access and banking on the go. It does not provide access to all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 7:00 a.m. to 6:00 p.m. PT.
Opus Bank's online and mobile banking services get fairly good scores from customers: out of 67 customer reviews on Apple and Android platforms, the Opus Bank mobile app rates a 3.7 out of 5 (compared to the national average of 3.8). Opus Bank's mobile app allows you to control your finances by reviewing current statements, transferring funds as well as reaching support representatives. Opus Bank receives a superb consumer satisfaction score based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Accounts||0.10% APY||$1||Compare Offers|
|Certificates of Deposit|| ||$10,000 for all tiers||Compare Offers|
|Money Market Accounts|| || ||Compare Offers|
|Checking Accounts||0.05% APY||$1||Compare Offers|
Opus Bank offers several deposit products which include savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. Opus Bank does not have the best savings rate, which means you should think about taking a look 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. Opus Bank's CD rates are significantly above average in comparison to other U.S. banks.
Opus Bank features a savings rate of 0.10%, which is fair compared to the average U.S. bank. Its CD rates are 2.40% and 1.80% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.40%. It has a fair savings rate, which means you can find higher rates with other banks. Think about taking a look at other banks for savings accounts.
Compare Opus Bank to Other Competitive Offers
Opus Bank has typically high fees as compared against the national average. At $9.00 per month, Opus Bank's checking account is not ideal for people who need an easy checking account.
Opus Bank ranks as a large bank and manages assets totaling $7 billion as well as $6 billion in deposits. Opus Bank's Texas Ratio is 5.15%, suggesting a tiny opportunity of failure. Additionally, Opus Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.
Find an Opus Bank Near Me
Opus Bank has 52 branches in the U.S.