East West Bank


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East West Bank was founded in 1973 in Los Angeles, California. Assets total more than $33 billion and is headquartered in Pasadena, California. There are over 130 branch locations in the United States and Greater China. With its 2009 acquisition from the Federal Deposit Insurance Corporation, East West Bank became the largest bank based in Southern California.  

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The Good

  • Banking solutions
  • Checking account options
  • Savings and investment opportunities

Banking Solutions

Regardless of what financial stage a client is currently in, East West Bank likely has a solution or a product available. Those looking to open their first savings account and those looking to invest for the long-term can get help from the dedicated staff at East West Bank. Their banking solutions can benefit individuals, businesses, and those interested in wealth management.

Checking Account Options

Clients who are interested in the checking account products offered by East West Bank will likely not be disappointed. Regardless of the account chosen, all clients will receive a Visa Check Card, overdraft protection, direct deposit feature, telephone banking, online banking, chip cards, online bill payment, mobile banking, and safe deposit box. There are five different account options to choose from, which includes:

  • EWP Value Checking: perfect for those who want a low opening balance and unlimited check writing without per check charges.
  • EWB Premier Checking: ideal for those who want to learn interest on a low opening balance.
  • EWB Senior Checking: designed for those who want a low opening balance, unlimited check writing, and an account with no monthly account maintenance fees.
  • Student Plus Checking: best for those who want a low opening balance, unlimited check writing, and an account with no monthly account maintenance fee (but only for students).
  • EWB Premier Maximizer Money Market: a good choice for those who want a competitive rate of interest for a checking account.

Savings and Investment Opportunities

There are also a number of savings and investment opportunities available for East West Bank clients. There are three different savings accounts, including the: EWB Premier Savings, EWB Senior Savings, and the Student Plus Savings account. Additionally, there are CD and retirement accounts available.

The Bad

  • Limited locations
  • Limited loan options

Limited Locations

East West Bank does have a limited service operation. While they are labeled as an "international" bank due to their banking ties with China, they are definitely not a national bank. Those that do not reside in the following states will not be able to use East West Bank for their financial solutions:

  • California
  • Georgia
  • Nevada
  • Massachusetts
  • New York
  • Texas
  • Washington

Limited Loan Options

While there are loan options available for East West Bank individual clients, their products are rather limited. In fact, East West Bank only offers two types of loans which includes: the Home Mortgage Loan Program and the Home Equity Line of Credit Program. These programs are designed for the following situations:

  • Home Mortgage Loan Program: best for clients looking to purchase a residential property, want to refinance an existing residential property, wanting to use the equity to build a residential property, want more predictable payments and payoff schedule, want a 30 year term.
  • Home Equity Line of Credit Program: best for those that have equity built up in a residential property that is currently owned or those who want to be able to make additional principal payments to pay down the line of credit balance at any time without penalty and be able to access the funds again.

Their services to span into "Greater China" with a present that includes full service branches in a number of prominent cities. There is also smaller representation in other regions of China. These services in China do help with their ability to service international financial issues.

The Bottom Line

Since their founding, East West Bank has provided banking solutions to individuals and businesses. Their solutions are often times flexible and customized in order to best help the client achieve their financial goals. Those considering East West Bank can expect the following from the platform:

  1. Wide range of checking and savings options
  2. Lending solutions provided
  3. International banking
  4. Limited service area
  5. Ties to China

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