Umpqua Bank Review 2022
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Umpqua Bank is a solid choice for West Coast residents who seek a regional bank with deposit and loan products, access to branch banking and digital-banking tools.
- ATM Fee Refunds
- Low Min Deposit
Founded in 1953, Umpqua Bank is the largest regional bank in the Pacific Northwest. It has nearly $30 billion in assets.
Umpqua Bank offers its innovative Go-To app that lets customers text a banker of their choosing if they have a question or need advice.
The bank offers customers options with multiple checking accounts, money market accounts and CD terms.
There is a relatively low deposit requirement to open a money market account or savings account.
Deposit accounts tend to have APYs that are lower than the national averages.
Umpqua has a smaller ATM network.
Umpqua Bank bank products
Umpqua Bank savings overview
With the Grow Savings account, you will pay a $3 monthly service fee unless a $200 minimum daily balance is maintained or the primary account holder is 55 or older or 18 or younger, or if a monthly transfer is made from another Umpqua personal deposit account.
The deposit required to open Grow Savings is only $25.
There are several ways to sidestep the account’s monthly $3 maintenance fee.
Higher yields can be found elsewhere, especially online banks.
Savings accounts with higher APYs and no minimum balance requirements can be found elsewhere.
Not all Umpqua Bank branches have reopened since the COVID-19 pandemic. The bank encourages customers who need to go inside a branch to first check with the branch and make an appointment online.
Customers can expect their personal banker on the Umpqua Go-To app to work regular bank hours, according to an Umpqua Bank representative.
You can telephone the bank or use the live chat feature on the website from 8 a.m. to 6 p.m. Pacific Time, weekdays, and 8 a.m. to 5 p.m., Saturday and Sunday.
Umpqua Bank's mobile app gets high ratings in the Apple App and Google Play stores. Umpqua debit and credit cards work with Apple Pay, Google Pay, Samsung PaY, Fitbit Pay and Garmin Pay.
About Umpqua Bank
Umpqua Bank is based in Roseburg, Oregon, and has 219 locations in Oregon, Idaho, Nevada, Washington and California. In late 2021, Umpqua agreed to be acquired by Columbia Banking System, based in Tacoma, Washington. The deal is expected to close in mid-2022. Umpqua also said it was expanding into Arizona.
Umpqua offers checking accounts, a savings account, money market accounts and CDs, as well as business and commercial banking services.
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