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Western Alliance Bank Review

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Western Alliance Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 2003, Western Alliance Bank has $20 billion in assets and $17 billion in deposits, ranking the institution as a very large bank. Western Alliance Bank, whose headquarters are in Phoenix, Arizona, lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Overall, Western Alliance Bank is a bank with better alternatives, with a rating of 3.5 stars out of 5 from our experts. Western Alliance Bank has the complete slate of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. Locating a bank with free checking, in addition to a high savings APY is your best option for returning the highest income on your deposits while maintaining convenient access to your money.

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 0.10%, Western Alliance Bank ranks poorly compared to the average U.S. bank. Western Alliance Bank's one-year CD earns at a rate of 0.95% and the five-year CD earns at a rate of 1.56%, while its highest-yielding money market account has a rate of 0.40%. Given Western Alliance Bank's poor savings rate, you should think about choosing another bank to earn more on your deposits.

How Western Alliance Bank's Savings Rates Compare

Western Alliance Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

There is insufficient data on Western Alliance Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

Western Alliance Bank is a brick-and-mortar bank, with 39 total bank locations in Arizona, California and Nevada. With mobile and web apps, Western Alliance Bank makes mobile banking straightforward, even on the go. You can utilize Western Alliance Bank's app to manage your bank accounts by looking at current statements, sending and receiving money as well as reaching customer service. Western Alliance Bank gets an excellent consumer satisfaction score due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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

SmartAsset Average: 4.8

Western Alliance Bank ranks as a very large bank owning $20 billion in assets and deposits totaling $17 billion. Western Alliance Bank has an excellent Texas Ratio of 2.41%, suggesting a minute chance of failure. Additionally, Western Alliance 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 Western Alliance Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.1% APY $100
Certificates of Deposit
  • 12 Month: 0.95% APY
  • 24 Month: 1.26% APY
  • 36 Month: 1.36% APY
  • 48 Month: 1.46% APY
  • 60 Month: 1.56% APY
$1 for all terms
Money Market Account 0.4% APY $10000

Western Alliance Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Western Alliance 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. Western Alliance Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Western Alliance Bank Near Me

Western Alliance Bank has 39 locations across the U.S.

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