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Pacific Premier Bank Review

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Pacific Premier Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Pacific Premier Bank started in 1983 and its headquarters are located in Irvine, California. It owns $8 billion in assets as well as $6 billion in deposits, making it a large bank. Pacific Premier Bank lacks premium access to customer service, with no live chat or all-day service options available. 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. Overall, Pacific Premier Bank is an average bank that leaves room for improvement, with a rating of 3.6 out of 5 stars from our experts. Pacific Premier Bank has an array product offerings, which include savings accounts, checking accounts, money market accounts, IRAs and credit cards. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking product features a monthly fee of $8.00, although banks sometimes have requirements that allow you to waive the fee. Locating an institution with free checking and a high interest rate savings account is your best option for accruing the most income from your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.6/5
National Average: 4.1

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

Rates

3.6
SmartAsset Average: 3.5

Pacific Premier Bank features a savings rate of 0.05%, which is fair in comparison to other U.S. banks. Pacific Premier Bank's CD rates are 1.45% and 1.95% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.20%. Given its below average savings rate, you should think about other options to earn more on your deposits.

How Pacific Premier Bank's Savings Rates Compare

Pacific Premier Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

Pacific Premier Bank has generally high fees in comparison to the average U.S. bank. Pacific Premier Bank's checking account has a monthly fee of $8.00, rating it fair for anyone looking for a hassle-free account. Pacific Premier Bank doesn't refund out-of-network ATM fees, meaning you'll need to search for a Pacific Premier Bank ATM or eat the fee.

Monthly Fee $8.00 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

3.6
SmartAsset Average: 3.7

Pacific Premier Bank is a brick-and-mortar bank, with 52 total branches in Arizona, California, Nevada and Washington. It also offers access to mobile and web apps for straightforward access and banking on the go. Pacific Premier Bank's online and mobile banking services get mediocre scores from users. The Pacific Premier Bank mobile app is rated at 3.3 out of 5 (with 34 ratings on Apple and Android) compared to the national average of 3.8. You can use Pacific Premier Bank's mobile app to manage your bank accounts by reviewing account balances, sending and receiving funds as well as accessing customer service. Pacific Premier Bank receives an excellent consumer satisfaction rating based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.3/5
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 Premier Bank ranks as a large bank owning $8 billion in assets and $6 billion in deposits. Pacific Premier Bank's Texas Ratio is 0.40%, signifying that the bank is in superb financial well-being and far from failure. Additionally, Pacific Premier 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 Premier Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 1.45% APY
  • 24 Month: 1.95% APY
  • 36 Month: 1.95% APY
  • 48 Month: 1.95% APY
  • 60 Month: 1.95% APY
$10000 for all terms
Money Market Account 0.2% APY $10000

Pacific Premier Bank has several deposit products including savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. Pacific Premier Bank does not have the best savings rate, which means you should think about 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 Premier Bank's CD rates are fair compared to the average U.S. bank.

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Find a Pacific Premier Bank Near Me

Pacific Premier Bank has 52 branches in the U.S.

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