East West Bank is a full-service bank founded in 1973 to serve the Chinese American community in Los Angeles, though it now operates in other regions of the U.S. and China. The bank serves customers in seven U.S. states: California, Georgia, Massachusetts, Nevada, New York, Texas and Washington.
Like many banks, East West offers promotions to lure new customers, but a surprising number of Americans miss out on free money by ignoring promotional offers. In a GOBankingRates survey, more than half of respondents said they don't even know if their own banks offer sign-up bonuses.
- Current East West Bank Promotions
- How To Open an East West Bank Account
- Are East West Bank Promotions the Right Choice for You?
East West doesn't have any special promotions, coupons or bonuses for new customers in August, but keep checking back because the bank might run promotions in the future. Even without any special offers on tap right now, East West Bank still provides ways to grow your money by earning interest and avoiding fees.
Keep reading to learn more.
East West Bank offers six types of checking accounts that are tailored to different needs. Read on for an overview of ways you can benefit from the bank's checking accounts.
East West's Premier Checking account is a good choice for those who want to earn interest with a low opening balance. You also get unlimited check writing without additional charges. The minimum opening balance for the Premier Checking account is $100.
In contrast, East West's Premier Maximizer Money Market Checking account requires a minimum opening balance of $10,000.
Both the Premier Checking and Premier Maximizer Money Market Checking accounts offer variable interest rates that are compounded daily and credited monthly to the account holder. Visit the East West website for more information.
If you're looking for a fee-free checking account, East West Bank offers three options:
- Student Plus Checking
- Senior Checking
- Community Checking
Student Plus Checking is for customers who are 17 or older and enrolled in a part-time or full-time accredited university or vocational school. Senior Checking is for individuals 62 or older who prefer a small opening balance requirement.
Community Checking is open to anyone who might not otherwise be able to obtain banking services. The account requires a minimum opening balance of only $25.
Read More: What Is a Money Market Account?
You'll need to visit a local branch to open an East West Bank account. Be sure to take your Social Security number and a government-issued photo ID such as a driver's license, state or military ID. To fund the account, you'll need a debit card, credit card or check.
To deposit the money via transfer, you'll need your other bank's account and routing number. Once you've opened your accounts, you can download the East West Bank mobile app and sign up for online banking.
Compare These: 10 Banks Offering Free Checking With No Minimum Balance
East West Bank is a good option for customers who travel frequently or operate businesses between the U.S. and China and value local banking relationships. However, if you're looking for a personal banking or business account, you might want to wait until East West offers a promotion on those accounts before making the switch.
If you're interested in learning what other banks offer, check out this GoBankingRates review of the best checking account promotions going on in June.
This content is not provided by East West Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by East West Bank.
This article has been updated with additional reporting since its original publication.