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Pacific City Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Pacific City Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Pacific City Bank started in 2003 and its headquarters are located in Los Angeles, California. It has $1 billion in assets and deposits totaling $1 billion, making it a large bank. Pacific City Bank has above-average customer service access with a live chat feature, which is helpful for those that work during typical customer service hours. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset experts rated Pacific City Bank 4.6 stars out of 5, indicating that it is a superb bank that warrants a serious look. Pacific City Bank has a complete suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, brokerage accounts and mortgage products. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Pacific City Bank's most basic checking does not have a monthly charge. Institutions that offer free checking, in addition to a high savings APY are your best option for returning the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.6/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

4.0
SmartAsset Average: 3.5

With a savings rate of 0.20%, Pacific City Bank ranks poorly in comparison to the national average. Pacific City Bank's one-year CD earns at a rate of 1.65%, while its highest-yielding money market account has a rate of 0.25%. Given Pacific City Bank's below average savings rate, you should think about opting for higher earning savings accounts with other banks.

How Pacific City Bank's Savings Rates Compare

Pacific City Bank Savings 0.20 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Pacific City Bank typically has extremely low fees in comparison to the national average. With no monthly fee, Pacific City Bank is ideal for people who want a basic banking experience. Pacific City Bank doesn't reimburse out-of-network ATM charges, meaning you will need to find a Pacific City Bank ATM or accept the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.5
SmartAsset Average: 3.7

Pacific City Bank is a brick-and-mortar bank, with 13 total branches in California, New Jersey and New York. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It does not offer all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Thursday, 9:00 a.m. to 5:00 p.m. PT; Friday, and 10:00 a.m. to 6:00 p.m. PT. Pacific City Bank also offers a live chat feature, a helpful way to reach a representative during the work day. Pacific City Bank's online and mobile banking platforms get positive feedback from customers. Out of 92 ratings across iOS and Android platforms, the Pacific City Bank mobile app is scored at 4.6 out of 5 (compared to the national average of 3.8). You can utilize Pacific City Bank's mobile app to control your finances by checking current statements, transferring money and accessing customer service. Pacific City Bank gets an outstanding consumer satisfaction score due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

5.0
SmartAsset Average: 4.8

Pacific City Bank ranks as a large bank with $1 billion in assets as well as $1 billion in deposits. Its Texas Ratio is 1.50%, indicating a low probability of failure. Additionally, Pacific City Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Pacific City Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $500
Checking Account 0.2% APY $2500
Certificates of Deposit
  • 12 Month: 1.65% APY
  • 24 Month: 2.50% APY
$1000 for all terms
Money Market Accounts 0.25% APY 0.25% APY $10000 $15000

Pacific City Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Pacific City Bank does not have the best savings rate, which means you should consider other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Pacific City Bank's CD rates are fair as compared against the national average.

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Find a Pacific City Bank Near Me

Pacific City Bank has 13 locations in the U.S.

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