Banc of California: Regional Bank With Personal and Business Services
Written by
Rudri Bhatt Patel, CFHC™
Edited by
Joe Evans
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Banc of California offers three checking accounts, two savings accounts, CDs, as well as car loans and investments. The bank is fully equipped with online and mobile banking capabilities. The bank doesn’t offer specific rate information online, but with several branch locations, customers are welcome to visit in person.
Banc of California Checking Accounts
Banc of California offers three checking accounts: Value Personal Checking, Value Interest Checking and Banc-On Account.
Here’s a look at some key details:
- Value Personal and Value Interest Checking require a $100 minimum deposit.
- Banc-On Checking requires a $25 minimum deposit, but there are no monthly maintenance fees.
- Value Personal Checking has a $6 monthly service fee and Value Interest Checking has a $12 fee. These fees are waivable.
- Value Interest Checking has higher interest rates for higher balances.
- Value Personal Checking has no account transfer fees or a minimum direct deposit requirement.
- To waive the monthly maintenance fee on the Value Personal Checking account, you must have an average daily balance of $1,500.
Banc of California Checking Account
Best For
California Banking
Low Fees
Minimal Deposit
Three Options
FDIC-Insured
Fee-free checking account with a low minimum deposit
Banc of California offers three checking accounts. The Banc-On Checking doesn’t allow you to write checks, but you have a low minimum deposit and no monthly maintenance fee.
Fees
$6 to $12
APY
Up to 0.5% APY on Value Interest Checking
Min Opening
$25 or $100
Pros
- Low minimum deposit for Banc-On Checking
- Funds are FDIC-insured
- No maintenance fee for Banc-On Checking
Cons
- To waive fees for Value Personal or Value Interest Checking minimum balance is high
- Low APYs
- Minimum deposit of $100 is high for Value Personal and Value Interest Checking
Why We Like It
Banc of California offers a checking account that requires a minimal deposit and no maintenance charge. The bank also offers two other checking accounts that may suit your needs, but require a $100 minimum deposit.
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Banc of California Savings Accounts
Banc of California offers a Personal Savings account and a Kids Banc account. Here are the details:
- Check with a personal banker to obtain the minimum deposit amount
- Website indicates that minimum balances apply, but not published
- Contact a personal banker to get more details and set up an account
Banc of California Savings Account
Best For
California Banking
Multiple Options
Kid Friendly
FDIC-Insured
Primary savings and youth savings at one bank
Banc of California offers two savings accounts that require minimum balance requirements. They offer two savings accounts that are catered to adults and kids.
Fees
Contact Bank
APY
Contact Bank
Min Opening
Contact Bank
Pros
- Minor savings account offered
- FDIC-insured
Cons
- Minimum balance required
- Must contact the banker to find out the minimum deposit, balance and APYs
Why We Like It
Banc of California offers two savings accounts that give adults and kids an option to save money.
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Banc of California CD Accounts
Banc of California offers CDs with a minimum deposit of $1,000.
- Minimum deposit for CDs is $1,000.
- CDs are FDIC-insured.
- Contact the bank for additional information
Banc of California CD Accounts
Best For
California Banking
FDIC-Insured
CD Options
Banc of California offers CDs
CDs are available at Banc of California, but you will have to contact a banker to learn about rates.
Fees
No monthly maintenance fees
APY
Contact Bank
Min Opening
$1,000
Pros
- Requires a $1,000 minimum deposit
- FDIC-insured
Cons
- Limited liquidity
- Need to contact the bank for terms and rates
- Early withdrawal penalty
Why We Like It
Those with extra funds can capitalize with CDs from Banc of California.
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Banking Experience
You can access customer service at 1-877-770-2262. You can contact the bank Monday through Friday, 8 a.m. to 5:30 p.m. PT. You can also contact the bank on Saturday from 9 a.m. to 1 p.m. PT.
You can also schedule an appointment online to see a dedicated banker in person at your local branch.
Banc of California app on Google Play is rated as 3.2, while in the Apple Store the rating is 4.0.
How Does Banc of California Compare?
SELECTED BANK
Banc of California Checking Account
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$6 to $12
$7 to $25, waivable
$4.95 waivable monthly maintenance fee for Advantage Safe Banking accounts, $12 waivable monthly maintenance fee for Advantage Plus Banking accounts, $25 waivable monthly maintenance fee for Advantage Relationship Banking accounts
APY
APY
APY
Up to 0.5% APY on Value Interest Checking
N/A
to
Min Opening
Min Opening
Min Opening
$25 or $100
$0 to $25
$25 to $100
SELECTED BANK
Banc of California Savings Account
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
Contact Bank
$0 to $5 waivable monthly charge
$8 waivable monthly maintenance fee per statement cycle
APY
APY
APY
Contact Bank
Up to
to for most accounts, 5% to 20% booster for Preferred Rewards members
Min Opening
Min Opening
Min Opening
Contact Bank
$0 to $25
$100
SELECTED BANK
Banc of California CD Accounts
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly maintenance fees
No monthly service fee
Early withdrawal fees apply
APY
APY
APY
Contact Bank
Up to
to
Min Opening
Min Opening
Min Opening
$1,000
$1,000
$1,000
Banc of California vs. PNC Bank
Banc of California is located mainly in California, with some branches in Boston, Austin, Phoenix, Denver and Durham, while PNC has locations in over 27 states. Both offer CDs that require a minimum deposit of $1,000.
Banc of California doesn’t publish its CD rates; PNC Bank’s highest rate is up to 3.65%.
Banc of California vs. KeyBank
Banc of California doesn’t publish its minimum deposits on its savings accounts, while KeyBank requires only $10.
KeyBank also has much higher monthly maintenance fees on its checking accounts than Banc of California does — up to $50 versus $12.
Banc of California vs. Bank of America
Banc of California has more of a California presence, while Bank of America has multiple nationwide locations. If you have higher balances, Bank of America may be a better fit. Banc of California has three checking account options, and if you prefer a personalized experience, especially if you live in California, this financial center is ideal for you.
Final Take to GO
Banc of California has transformed from a specialized lender to a regional bank focusing on personal and business services. Although they offer personal banking products, many of the rates, especially on savings, CDs and money market accounts, are not disclosed. This bank is best for those who can visit in person and benefit from talking to a personal banker.
FAQ
- Is Banc of California safe?
- Banc of California is safe. Its funds are FDIC-insured. Deposits are insured up to $250,000 per depositor, per ownership category, in the unlikely event of bank failure.
- What is the minimum balance of a Banc of California account?
- The checking account requires a $25 or $100 minimum deposit. A CD requires a $1,000 minimum deposit.
- How much money can you withdraw from Banc of California on a single day?
- You can typically withdraw $500 to $1,000 per day. However, withdrawal amounts are impacted by the number of accounts and the relationship you have with the bank.
- Does Banc of California charge a monthly maintenance fee?
- Monthly maintenance fees are between $0 to $12 for some accounts, but these are waivable.
- What services does Banc of California provide?
- Banc of California offers personal and business banking as well as car loans and investments.
