Umpqua Bank Review 2024
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At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
Overview
Founded in 1953, Umpqua Bank is the largest regional bank in the Pacific Northwest. On March 1, 2023, Umpqua closed a merger to acquire Columbia Bank. Umpqua Bank has more than 300 locations in California, Oregon, Idaho, Nevada, Washington.
Highlights
- ATM Fee Refunds
Overall
Founded in 1953, Umpqua Bank is the largest regional bank in the Pacific Northwest. On March 1, 2023, Umpqua closed a merger to acquire Columbia Bank. Umpqua Bank has more than 300 locations in Oregon, Idaho, Nevada, Washington, California, Arizona, Utah and Colorado.
Pros
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The bank offers customers options with multiple checking accounts, money market accounts and CD terms.
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There is a relatively low deposit requirement to open a money market account or savings account.
Cons
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Deposit accounts tend to have APYs that are lower than the national averages.
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Umpqua has a smaller ATM network.
Umpqua Bank banking 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.
Pros
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The deposit required to open Grow Savings is only $25.
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There are several ways to sidestep the account’s monthly $3 maintenance fee.
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Customers ages 18 or under or 55 or older have their monthly service fees waived.
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You only need to keep $200 in your Grow Savings account to avoid the account’s monthly service fee.
Cons
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Savings accounts with higher APYs and no minimum balance requirements can be found elsewhere, especially at FDIC-insured online banks.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Umpqua BankAPYAPYNational average APYHow do we get this data?
Customer experience
Customer support is available by telephone weekdays, Monday through Friday, from 7 a.m. to 6 p.m., PT, and 8 a.m. to 5 p.m. PT Saturday and Sunday. You can also chat online with an Umpqua Bank representative from 8 a.m. to 6 p.m., PT weekdays and 8 a.m. to 5 p.m., PT on weekends.
Umpqua Bank's mobile app gets good 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.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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