Choice Money Market Savings

Make your money work harder.

If you're anticipating a limited number of monthly transactions, Choice Money Market Savings may be the right product for you. You'll enjoy a competitive interest rate, with easy access to your funds, plus with a qualifying checking account relationship you can potentially earn higher interest rates.

Explore the benefits of a Bank of the West Choice Money Market Savings account:

  • Earn a competitive rate for higher account balances
  • Earn Relationship Interest Rates when linked to a Bank of the West consumer checking account, otherwise standard interest rates apply 1, 2
  • Tiered, variable interest accrues on daily collected ending balances
  • Easy access to your funds
  • Unlimited deposits and withdrawals at a branch or Bank of the West ATM
  • Limited check writing and transfer privileges
  • Online Banking with convenient account transfers
  • Free Mobile Banking3
  • Interest is compounded daily and paid monthly
  • Friendly customer support online, on the phone, or in the branch

At this time, Choice Money Market Savings can only be opened in a branch.

There is a $15 monthly service charge that can be waived in one of two ways:

  • Make a recurring monthly transfer ($75 minimum) from a Bank of the West consumer checking account into a Choice Money Market Savings account through the Auto-Save Program, OR
  • Maintain a $5,000 average monthly balance in this account

Deposits eligible for FDIC insurance up to the maximum established by the FDIC per depositor and ownership type.

What you'll need to apply

  • $100 minimum opening deposit
  • Driver license, state ID, passport, or military ID
  • Social Security, taxpayer ID number, or W-8
  • Date of Birth and Physical Street Address
Money Market Advantage

1 A Relationship Premium or a Premier Relationship Premium (available to Premier Relationship Checking customers) is a bonus interest rate on qualifying Choice Money Market Savings accounts for selected balance tiers. The standard interest rate plus the Relationship Premium interest rate equals the Relationship Interest Rate; the standard interest rate plus the Premier Relationship Premium interest rate equals the Premier Relationship Interest Rate. The Relationship Premium and Premier Relationship Premium interest rates are set at the Bank's discretion and are subject to change without notice. Only one Choice Money Market Savings account can be linked to a checking account. There may not be a Relationship Premium or Premier Relationship Premium associated with every balance tier.

2 To automatically qualify for a Relationship Interest Rate, you must have an open Bank of the West consumer checking account and a Choice Money Market Savings account with the same ownership; to automatically qualify for a Premier Relationship Interest Rate, you must have an open Premier Relationship Checking account and a Choice Money Market Savings account with the same ownership. The Relationship Interest Rate or Premier Relationship Interest Rate will be earned on your Choice Money Market Savings account, and is calculated as follows: On the last day of your statement cycle, your Choice Money Market Savings account's end-of-day collected balance tier will be determined. If the Bank is paying a Relationship or Premier Relationship Premium for that balance tier, that Premium will be added to the standard interest rate for the balance tier into which your daily end-of-day balance falls each day during the next full statement cycle. The Relationship or Premier Relationship Premium will be applied beginning the first business day of the statement cycle. Once set, the Relationship or Premier Relationship Premium will not change during that statement cycle. The standard interest rate can change as frequently as daily. The Relationship Interest Rate or Premier Relationship Interest Rate is compounded daily and paid to your Choice Money Market Savings account on the last day of the statement cycle. If you do not qualify for a Relationship or Premier Relationship Premium as of the last day of any statement cycle, your account will earn only the standard interest rate during the next full statement cycle.

3 Standard text messaging and mobile carrier rates may apply.

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Tip:

The “Flow” of Money

When money or assets are "liquid", that means they are readily available to you with minimal or no penalties. For examples, savings accounts are typically very liquid, whereas a CD or IRA generally incur penalties for early withdrawals and are considered to be less liquid.

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