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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 assets totaling $492 million and deposits totaling $411 million, which makes it a medium-size bank. West Gate Bank, whose headquarters are in Lincoln, Nebraska, has above-average access to customer service with a live chat feature, great for getting help during the work week. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. At a SmartAsset rating of 4.4 stars out of 5, West Gate Bank should be solidly in contention for your choice of bank. West Gate Bank offers a complete array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. West Gate Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, West Gate Bank's ordinary checking account does not have a monthly fee. Obtaining a checking account with no monthly fee and a savings account with a high APY at the same bank is your best bet for getting the most income on your deposits while having easy 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 compared to the average U.S. bank. West Gate Bank's one-year CD has a rate of 1.52% and the five-year CD earns at a rate of 3.03%, while its highest-yielding money market account earns at a rate of 0.50%. Given West Gate Bank's noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

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 its customers extremely low fees compared to other U.S. banks. West Gate Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. West Gate Bank unfortunately does not reimburse out-of-network ATM charges, which means you will have to locate a West Gate Bank ATM or pay the withdrawal fee.

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 branches in Nebraska. It also offers access to mobile and web apps for a straightforward mobile-banking experience. West Gate Bank also offers a live chat feature, key for getting quick access to customer service. West Gate Bank's online and mobile banking platforms get mediocre scores from customers. Out of 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). You can use West Gate Bank's app to manage your bank accounts by monitoring current statements, sending and receiving funds as well as accessing support representatives. West Gate Bank gets a superb consumer satisfaction score based on comparatively few complaints brought 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 Yes
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Financial Health

SmartAsset Average: 4.8

West Gate Bank ranks as a medium-size bank owning assets totaling $492 million as well as $411 million in deposits. It has an excellent Texas Ratio of 0.00%, indicating a negligible possibility of 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: 1.52% 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 has several deposit products like 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 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. West Gate Bank's CD rates are fair compared to other U.S. banks.

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Find a West Gate Bank Near Me

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

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