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

Overview

Founded in 1970, Sunwest Bank has $1 billion in assets and deposits totaling $861 million, classifying it as a medium-size bank. Sunwest 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 in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 3.3 stars out of 5, Sunwest Bank should be more closely analyzed to see if its services satisfy your needs. Sunwest Bank has a complete choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. Sunwest Bank has a fair savings rate; other popular banks have higher rates. The bank's standard checking product maintains a $4.00 monthly fee, which places it at the higher end of monthly fees. Obtaining a checking account with no monthly fee and a savings account with a high APY at the same bank is the best option for getting the most income from your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.3/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

With a savings rate of 0.05%, Sunwest Bank ranks poorly compared to the national average. Sunwest Bank's one-year and five-year term lengths CDs earn at a rate of 0.10% and 1.00%, respectively, while its highest-yielding money market account has a rate of 0.10%. Given Sunwest Bank's poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How Sunwest Bank's Savings Rates Compare

Sunwest Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

3.0
SmartAsset Average: 4.4

Sunwest Bank charges its customers high fees compared to other U.S. banks. At $4.00/month, Sunwest Bank's checking account is not great for people who want an easy banking experience. Sunwest Bank unfortunately doesn't reimburse out-of-network ATM fees, which means you'll be required to locate a Sunwest Bank ATM or pay the withdrawal fee.

Monthly Fee $4.00 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

Sunwest Bank is a brick-and-mortar bank, with 12 total bank locations in Arizona, California, Idaho, Utah and Washington. With a mobile app, Sunwest Bank provides convenient mobile banking, even from home or work. It does not have all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday and 8:00 a.m. to 5:00 p.m. PT. Sunwest Bank gets a superb consumer satisfaction rating based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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

4.9
SmartAsset Average: 4.8

Sunwest Bank ranks as a medium-size bank with $1 billion in assets and $861 million in deposits. It has an excellent Texas Ratio of 3.33%, denoting a minute probability of failure. Additionally, Sunwest Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.33%
High Risk 75% 50% 20% 10% Low Risk

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 Sunwest Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.10% APY
  • 24 Month: 0.15% APY
  • 36 Month: 0.45% APY
  • 48 Month: 0.90% APY
  • 60 Month: 1.00% APY
$5000 for all terms
Money Market Accounts 0.05% APY 0.1% APY $10000 $15000

Sunwest 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. Sunwest 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. Sunwest Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Sunwest Bank Near Me

Sunwest Bank has 12 locations in the U.S.

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