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United Business Bank Review

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

Overview

Started in 2004, United Business Bank has $1 billion in assets and deposits totaling $1 billion, ranking it as a medium-size bank. United Business Bank, whose headquarters are in Walnut Creek, California, 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. Overall, United Business Bank is a fair bank that does not compare with some of the other banks, with a rating of 3.1 stars out of 5 from our experts. United Business Bank offers a full selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, 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, making it a rather expensive bank for checking. Locating a bank with free checking, in addition to a high interest rate savings account is the best option for gaining the highest income on your deposits while maintaining 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

2.8
SmartAsset Average: 3.5

With a savings rate of 0.05%, United Business Bank ranks poorly in comparison to the national average. Its CD rates are 0.25% and 1.01% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.10%. Given its below average savings rate, you should consider taking a look at other banks for savings accounts.

How United Business Bank's Savings Rates Compare

United Business Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

On average, United Business Bank charges customers high fees in comparison to the national average. At $8.00/month, United Business Bank is less than ideal for people who want a basic banking experience. United Business Bank doesn't refund out-of-network ATM fees, meaning you'll be required to find a United Business Bank ATM or pay 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

2.5
SmartAsset Average: 3.7

United Business Bank is a brick-and-mortar bank, with 18 total branches in California, New Mexico and Washington. It also offers access to mobile and web apps for an easy mobile-banking experience. United Business Bank's mobile app allows you to manage your accounts by looking at account balances, transferring money as well as accessing customer service. United Business Bank receives an outstanding consumer satisfaction rating due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial 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

5.0
SmartAsset Average: 4.8

United Business Bank is currently a medium-size bank with $1 billion in assets and $1 billion in deposits. United Business Bank has an excellent Texas Ratio of 0.13%, indicating a minute chance of failure. Additionally, United Business 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 United Business Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1001
Checking Account 0.02% APY $1000
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.40% APY
  • 36 Month: 0.55% APY
  • 48 Month: 0.75% APY
  • 60 Month: 1.01% APY
$1000 for all terms
Money Market Accounts 0.1% APY 0.1% APY $10000 $15000

United Business Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. United Business Bank does not have the best savings rate, which means you should think about taking a look 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. United Business Bank's CD rates are fair as compared against the national average.

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Find a United Business Bank Near Me

United Business Bank has 18 branches across the U.S.

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