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Pacific Premier 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 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 has its headquarters in Irvine, California. Pacific Premier Bank handles $8 billion in assets and deposits totaling $6 billion, making it a large bank. Pacific Premier Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. With a score of 3.6 out of 5 stars, Pacific Premier Bank should be near the middle of the pack in your search for a bank. Pacific Premier Bank provides customers with multiple banking products, including savings accounts, checking accounts, money market accounts, IRAs and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking product has a monthly fee of $8.00, which ranks on the higher end of monthly fees. Finding a checking account with no monthly fee and a savings account with a high interest rate at the same institution is your best bet for gaining the most income on 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

With a savings rate of 0.05%, Pacific Premier Bank ranks poorly in comparison to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 2.25% and 1.95%, respectively, while its highest-yielding money market account earns at an APY of 0.20%. Given its noncompetitive savings rate, you should consider choosing another bank 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 as compared against the national average. Pacific Premier Bank's checking account has a monthly fee of $8.00, ranking it fair for anyone looking for a simple account. Pacific Premier Bank doesn't reimburse out-of-network ATM fees, which means you'll need to find a Pacific Premier Bank ATM or accept the withdrawal 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 bank locations in Arizona, California, Nevada and Washington. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Pacific Premier Bank's online and mobile banking services get mediocre feedback from users. Out of 34 ratings across both iOS and Android platforms, the Pacific Premier Bank mobile app rates a 3.3 out of 5 (compared to the national average of 3.8). You can access Pacific Premier Bank's app to control your bank accounts by reviewing monthly statements, transferring money and reaching support representatives. Pacific Premier Bank receives an outstanding consumer satisfaction rating based on comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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 is a large bank owning assets totaling $8 billion as well as deposits totaling $6 billion. Its Texas Ratio is 0.40%, denoting that the bank is in superb financial shape and improbable to fail. 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: 2.25% 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 Accounts 0.2% APY 0.2% APY $10000 $15000

Pacific Premier Bank has several deposit products like savings accounts, checking accounts and money market accounts to give you many options to manage your money. Pacific Premier Bank does not have the best savings rate, which means you should think about looking elsewhere 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 in comparison to the national average.

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Find a Pacific Premier Bank Near Me

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

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