East West Bank Community Checking Account

Everyone can bank with the low-cost East West Bank Community Checking Account.

East West Bank
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East West Bank Community Checking Account is a lifeline checking account, designed for lower-income customers, who might not otherwise be able to open another checking account.

Usually, this kind of checking accounts comes with no monthly fees, and a low minimum opening deposit, the latter in this case being set to $25.

Unlike many other lifeline checking accounts, Community Checking offers unlimited check writing, and overdraft protection services. Overdraft protection is, however, only possible if you hold another EWB account, whether it be checking or savings, because it works by linking one to another, which gives you the flexibility in terms of spending. Now, this feature is not something that might serve to every lower-income individual.

On the other hand, Community Checking accountholders will be able to use their Visa debit card at quite a lot of ATMs within the States, and there's also Digital Banking available, but it has to be set up once the account's been opened.

Overall, this offer isn't that bad, and the only one from East West Bank that comes with a lower minimum opening deposit. Besides, given that, as per the bank, there aren't any particular restrictions, it's quite a fair deal, and a good way for low-income persons to access banking.

Checking account details

Checking account fees

  • Monthly Fee
    $0
  • APY
    0.00%
  • Minimum Deposit to Open
    $25
  • Out-of-Network ATM Transaction Fee
    n/a
  • Out-of-Network ATM Withdrawal Fee
    n/a
  • Overdraft Fee
    n/a
  • Non-Sufficient Funds Fee
    n/a
  • Foreign Transaction Fee
    n/a

East West Bank Community Checking Account FAQ

1. Who is eligible to open Community Checking?

Anyone living in a low- or moderate-income census tract as identified by the Federal Financial Institutions Examination Council (FFIEC) is eligible to apply.

2. What is a low- to moderate-income census tract?

Census tracts can be considered upper, middle, moderate or low income. A low-income census tract or region is where the median family income is less than 50% of the decennial metropolitan-statistical-area (MSA) median family income. The moderate-income category includes census tracts, where the median family income of the region is at least 50% but no greater than 80% of the decennial MSA median family income.

3. What is Automated Telephone Banking?

East West Bank's Automated Telephone Banking allows you to check your balance, and transfer funds between your linked accounts simply by calling their toll-free number at 800.809.6761. The service is free of charge, and available 24/7.

4. Are there any other account features?

You can request 1 non-sufficient funds fee refund during the first calendar year of account opening.

5. Is Community Checking FDIC-insured?

Yes, all East West Bank's checking accounts are FDIC-insured.

6. Where can I use my Visa debit card?

Anywhere Visa is accepted, including online, and abroad.

7. Is it safe to use the East West Bank Visa debit card?

Yes, these cards contain a microchip that adds an extra layer of security against fraud using EMV technology. The embedded chip encrypts information, and produces a single-use code to validate transactions when you make transactions at chip-enabled terminals or card readers. This way, it is more difficult to steal or counterfeit card information. However, you should still be careful, and not disclose your card information to anyone.

8. Will I pay additional fees when I use my East West Bank Visa debit card?

While there are no other fees charged when you use your debit card, some regular fees may apply, such as foreign transaction fees when you make purchases outside the United States, or fees charged when you use out-of-network ATMs.

 

9. What do I do if my card gets lost or stolen?

You need to contact East West Bank at 877.357.5087 to report your card lost or stolen. You should also call this number if you notice any suspicious activity on your account.

10. Is there a mobile app I can use to manage my Community Checking account?

Yes, East West Bank has a mobile app available to its customers with an iPhone®, iPad®, AndroidTM phone or AndroidTM tablet device. You can use the app to check your balance and transaction history, pay bills, transfer money between accounts, deposit checks, and more.

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