East West Bank Premier Checking Account

Earn interest on your balance, and access your funds easily through a large ATM network.

securely on the bank's website

If you're looking for an interest-bearing account with free access to a huge ATM network across the States, East West Bank Premier Checking Account might be for you.

Another positive about this checking account is the possibility to have the monthly fee waived if you keep a monthly balance of at least $2,500. You'll also get a free Visa debit card you can use anywhere. You can withdraw money from over 70,000 ATMs across the United States, write checks without per check charges, and manage your budget via online and mobile banking. Note, however, that you need to enroll in the bank's online banking services to be able to use digital banking, and bank while on the go.

East West Bank states its interest rates are variable, and credited each month. You'll probably need to contact them for more details. The bank also suggests to open a Premier Savings account to save more money, and access funds easily.

Apparently, this interest-bearing checking account offer is promoted as with low minimum opening deposit requirements, but you can definitely find a better checking account deal elsewhere. Most banks require between $25 and $50 to open an account, while East West Bank asks for $100 - without the option to have it reduced, unlike with its Best Value Checking. The two checking accounts are basically the same, except the Premier Checking earns interest.


Checking account details

Checking account fees

  • Monthly Fee
    $10 (can be waived / reduced)
  • APY
  • Minimum Deposit to Open
  • Out-of-Network ATM Transaction Fee
  • Out-of-Network ATM Withdrawal Fee
  • Overdraft Fee
  • Non-Sufficient Funds Fee
  • Foreign Transaction Fee

East West Bank Premier Checking Account FAQ

1. What is a combined average monthly balance?

It's basically the total amount of money you keep in your East West Bank checking accounts, if you have several of them.

So, you won't pay the monthly fee on Premier Checking if you keep $2,500+ in it. or if you have $10,000 across all of your East West Bank accounts (combined average).

2. What does "compounded daily" mean?

In simple terms, it means interest is added to your balance at the end of each day, so that your account earns more the next day, and then more the next, etc.

The daily interest rate is calculated by dividing the annual rate by 365.

3. Is there a savings account linked to this checking account?

Yes, you can open a Premier Savings account for $3 per month. The monthly fee can be waived if you keep a monthly average balance of $2,500+ or a combined average monthly balance of $10,000+ in your East West Bank consumer deposit accounts. There are no monthly fees if you're under 18.

While there's a $100 minimum opening deposit, Premier Savings has no teller withdrawal or deposit limits, but some transactions are limited to 6 per month. You'll be able to access your funds easily if you linked your East West Bank checking account to your Premier Savings.

Just like with the Premier Checking account, Premier Savings offers variable rates, compounded daily, and credited monthly.

4. Is Premier Checking FDIC-insured?

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

5. 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.

6. How do I avoid Allpoint and MoneyPass ATM fees?

While you normally won't be charged the fee, it might happen otherwise. If the surcharge screen appears during your Allpoint or MoneyPass ATM transaction, accept it, and proceed with your withdrawal. Rest assured East West Bank will reimburse you at the end of the banking cycle.

7. What do East West Bank Online Services include?

Online banking lets you keep an eye on your budget, and stay on top of your finances, no matter where you are or when you want to access your checking account information.

East West Bank’s Consumer Online Banking Services include various features, such as account/activity monitoring tools, email alerts, money transfer, bill pay, check deposits, document downloads, and more.

8. Are there any limits to mobile deposits?

Yes, you can deposit up to $5,000 per day, and there are also a rolling seven-day limit of $10,000 and a rolling 30-day limit of $25,000.

9. 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.

10. What is Overdraft Protection?

If you want to enjoy the possibility of making withdrawals, writing checks, and shopping even when you don't have enough money in your account, you can sign up for Overdraft Protection Services East West Bank offers to its customers.

You can link your Premier Checking to another East West Bank checking or savings account of yours. This helps you avoid overdraft fees as money will be instantly transferred from your linked East West Bank account to your Premier Checking.

Check Out Other Products From East West Bank
Bank Monthly Service Charge Minimum Deposit to Open APY
East West Bank Value Checking Account $5 $100 0.00%
East West Bank Premier Checking Account $10 (can be waived / reduced) $100 n/a
East West Premier Maximizer Money Market Checking Account $12 (can be waived) $10,000 n/a
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