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Pacific Enterprise Bank Review

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Pacific Enterprise Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 2007, Pacific Enterprise Bank has assets totaling $507 million along with $450 million in deposits, ranking the institution as a medium-size bank. Pacific Enterprise Bank, whose headquarters are in Irvine, California, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. We ranked Pacific Enterprise Bank at a 3.1 stars out of 5, which means it is a satisfactory bank that you should further inspect to see if it fits your needs. Pacific Enterprise Bank offers a full array of banking products, including savings accounts, checking accounts, money market accounts, CDs and IRAs. Pacific Enterprise Bank has a fair savings rate compared to the average savings account. The bank's standard checking account maintains a $15.00 monthly fee, which places it at the higher end of monthly fees. Institutions that offer free checking as well as a high savings APY are the best bet for returning the most income on your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.1/5
National Average: 4.1

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

Rates

3.0
SmartAsset Average: 3.5

With a savings rate of 0.10%, Pacific Enterprise Bank ranks poorly in comparison to the average U.S. bank. Its one-year CD has a rate of 0.50%, while its highest-yielding money market account earns at an APY of 0.15%. Given Pacific Enterprise Bank's noncompetitive savings rate, you should think about looking elsewhere to open savings accounts.

How Pacific Enterprise Bank's Savings Rates Compare

Pacific Enterprise Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

Pacific Enterprise Bank has generally high fees in comparison to the average U.S. bank. Its checking account has a monthly fee of $15.00, rating it fair for anyone looking for a hassle-free account. Pacific Enterprise Bank unfortunately does not reimburse out-of-network ATM fees, which means you'll need to search for a Pacific Enterprise Bank ATM or pay the fee.

Monthly Fee $15.00 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

2.5
SmartAsset Average: 3.7

Pacific Enterprise Bank is a brick-and-mortar bank, with one total bank locations in California. With mobile and web apps, Pacific Enterprise Bank makes mobile banking easy, even on the go. You can access Pacific Enterprise Bank's mobile app to manage your finances by reviewing monthly statements, sending and receiving funds as well as accessing support representatives. Pacific Enterprise Bank receives a superb consumer satisfaction score due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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

5.0
SmartAsset Average: 4.8

Pacific Enterprise Bank is currently a medium-size bank with assets totaling $507 million and deposits totaling $450 million. Its Texas Ratio is 1.71%, signifying that the bank is in excellent financial health and improbable to fail. Additionally, Pacific Enterprise 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 Enterprise Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $500
Checking Account 0.1% APY $750
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.65% APY
  • 36 Month: 0.65% APY
$10000 for all terms
Money Market Account 0.15% APY $2500

Pacific Enterprise Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Pacific Enterprise 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 Enterprise Bank's CD rates are fair as compared against the national average.

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Find a Pacific Enterprise Bank Near Me

Pacific Enterprise Bank has one physical branches in the U.S.

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