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West Gate Bank Review

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West Gate Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 1968, West Gate Bank has $492 million in assets along with deposits totaling $411 million, ranking it as a medium-size bank. West Gate Bank, whose headquarters are in Lincoln, Nebraska, has above-average customer service access with a live chat feature, great for getting help during the work week. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Coming in at a commendable 4.4 stars out of 5, West Gate Bank proves it is a solid contender in your bank search. West Gate Bank provides customers with a full suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. West Gate Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, the bank's standard checking account does not have a monthly maintenance charge. Institutions that offer no-fee checking and a high interest rate savings account are the best option for getting the most income from your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.15%, West Gate Bank ranks poorly in comparison to other U.S. banks. West Gate Bank's CD rates are 1.51% and 3.03% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.50%. Given its below average savings rate, you should consider choosing another bank to earn more on your deposits.

How West Gate Bank's Savings Rates Compare

West Gate Bank Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

West Gate Bank charges customers extremely low fees compared to other U.S. banks. Its checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. West Gate Bank doesn't reimburse out-of-network ATM charges, meaning you'll need to locate a West Gate Bank ATM or eat the cost of withdrawal.

Monthly Fee $0 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

SmartAsset Average: 3.7

West Gate Bank is a brick-and-mortar bank, with seven total bank locations in Nebraska. It also offers access to mobile and web apps for simple access and banking on the go. Additionally, West Gate Bank offers a live chat feature, which may provide helpful service without getting on the phone. West Gate Bank gets inferior marks from customers for its mobile platform. With 90 customer reviews across iOS and Android platforms, the West Gate Bank mobile app has an overall rating of 3.3 out of 5 (compared to the national average of 3.8). West Gate Bank's mobile app lets you control your bank accounts by reviewing account balances, transferring funds and reaching customer service. West Gate Bank receives an outstanding consumer satisfaction rating due to comparatively few consumer complaints filed 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 Yes
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Financial Health

SmartAsset Average: 4.8

West Gate Bank is a medium-size bank owning assets totaling $492 million as well as $411 million in deposits. Its Texas Ratio is 0.00%, indicating that the bank is in outstanding financial condition and far from failure. Additionally, West Gate 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 West Gate Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $50
Checking Account 0.35% APY $1500
Certificates of Deposit
  • 12 Month: 1.51% APY
  • 24 Month: 2.27% APY
  • 36 Month: 2.52% APY
  • 48 Month: 3.03% APY
  • 60 Month: 3.03% APY
$1000 for all terms
Money Market Account 0.5% APY $500

West Gate Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. West Gate 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. West Gate Bank's CD rates are fair in comparison to other U.S. banks.

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Find a West Gate Bank Near Me

West Gate Bank has seven locations across the U.S.

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