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Western Commerce Bank Review

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Western Commerce Bank Savings
0.23% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 1961, Western Commerce Bank has $416 million in assets as well as $378 million in deposits, classifying it as a medium-size bank. Western Commerce Bank, whose headquarters are in Carlsbad, New Mexico, lacks premium access to customer service, with no options for live chat or all-day service. 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. At a SmartAsset rating of 4.4 stars out of 5, Western Commerce Bank should be solidly in contention for your choice of bank. Western Commerce Bank provides customers with the complete slate of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Western Commerce 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 the best option for getting the most income on 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

Western Commerce Bank has a savings rate of 0.23%, which is poor compared to the average U.S. bank. Western Commerce Bank's one-year CD earns at a rate of 1.00%, while its highest-yielding money market account has an APY of 0.20%. Given its below average savings rate, you should consider choosing another bank to earn more on your deposits.

How Western Commerce Bank's Savings Rates Compare

Western Commerce Bank Savings 0.23 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Western Commerce Bank typically has extremely low fees compared to the average U.S. bank. Western Commerce Bank's checking account has no monthly fee, rating it excellent for anyone looking for a simple account. Western Commerce Bank does not refund out-of-network ATM charges, meaning you will be required to find a Western Commerce Bank ATM or accept 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

Western Commerce Bank is a brick-and-mortar bank, with 12 total bank locations in New Mexico. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Western Commerce Bank's online and mobile banking platforms get high praise from customers. The Western Commerce Bank mobile app is rated at 4.7 out of 5 (out of 3 ratings on iOS and Android) compared to the national average of 3.8. Western Commerce Bank's mobile app allows you to manage your bank accounts by monitoring monthly statements, sending and receiving funds and reaching support representatives. Western Commerce Bank gets a superb consumer satisfaction score based on 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 4.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Western Commerce Bank ranks as a medium-size bank and has $416 million in assets and deposits totaling $378 million. Its Texas Ratio is 4.39%, signifying that Western Commerce Bank is in terrific financial shape and unlikely to fail. Additionally, Western Commerce Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Western Commerce Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.23% APY $500
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 1.25% APY
  • 36 Month: 1.36% APY
$1000 for all terms
Money Market Account 0.2% APY $1000

Western Commerce 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. Western Commerce 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. Western Commerce Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Western Commerce Bank Near Me

Western Commerce Bank has 12 physical branches in the U.S.

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