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Zions Bank Review 2024

Updated January 31, 2024
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At a glance

4.2
Rating: 4.2 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 4.7 stars out of 5

Checking

Rating: 4.3 stars out of 5

Savings

Rating: 2.9 stars out of 5

MMA

Rating: 4.4 stars out of 5

About Bankrate Score

Overview

Zions Bank is best for consumers based in Utah, Idaho or Wyoming who want to avoid paying high account fees and enjoy access to comprehensive digital banking tools.

Highlights

  • No Monthly Fees
  • Highly Rated App
Compare offers
Info
Bank logo
Member FDIC
Savings Account
4.35
%
APY
APY
Info
As of 2/25/2024
Rating: 4.9 stars out of 5
$1
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC.
Savings Account
5.25
%
APY
APY
Info
As of 2/25/2024
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: No fees. Easy deposits and quick withdrawals.
Bank logo
Member FDIC
Savings Account
5.15
%
APY
APY
Info
As of 2/25/2024
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer:

Overall

Zions Bank operates in Utah, Idaho and Wyoming, with online and mobile banking options as well. Its banking products include 10 CD terms, several savings accounts, money market accounts and checking accounts. Most accounts have no monthly fee, or offer ways that the monthly fee can be waived. However, rates overall are mediocre.

The bank’s ATM network is limited to Utah, Idaho and Wyoming. Otherwise, customers have to pay $2.50 per transaction to access their cash.

Pros

  • Checkmark

    Accounts have no or low monthly fees.

  • Checkmark

    Many types of products are offered, including 10 CD terms and a checking account for military members.

  • Checkmark

    Account holders have access to helpful mobile and online banking tools.

Cons

  • Rates aren’t competitive.

  • Fee-free ATM access is limited to Idaho, Utah and Wyoming.

Zions Bank banking products

2.9
Rating: 2.9 stars out of 5
Bankrate Score

Zions Bank savings overview

With a Zions Bank savings account, customers earn a tiered rate based on their account balance. The highest rate requires $100,000 or more to earn, but even the highest rate is well below the national average.

Still, customers can earn an APY on all balances, and they only need $50 to open the savings account. There’s a $3 monthly maintenance fee, but this can be waived by doing one of the following: maintain a daily balance of at least $200, or make a transfer of at least $25 from a linked Zions checking account into the savings account every month. Account holders can make up to six free withdrawals from the account per month, after which there’s a $5 fee for each withdrawal.

Pros

  • Checkmark

    Only $50 is needed to open the account.

  • Checkmark

    The $3 monthly fee is low, and there are straightforward ways to waive it.

  • Checkmark

    Savers can set up automatic transfers from a linked checking account.

Cons

  • Rates are below average, even on the highest-paying tier.

  • Withdrawals are limited to six per month; each additional withdrawal above that threshold costs $5.

  • See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

    Zions Bank
    APY
    APY
    Info
    National average APY
    How do we get this data?
    Info
Compare Offer
Info
Bank logo
Member FDIC
Savings Account
4.35
%
APY
APY
Info
As of 2/25/2024
Rating: 4.9 stars out of 5
Info
$1
Min balance for APY
View offer Arrow Right
Promoted offer:

Bank fees

Fee Charged?
Overdraft fee $29
Non-sufficient funds fee None
Monthly maintenance fees $0 - $10
Out-of-network ATM fee $2.50
Excessive transaction fee $5 – $15

About Zions Bank

Zions Bank, headquartered in Salt Lake City, Utah, was founded in 1873 as Utah’s first chartered savings bank. A division of Zions Bancorporation, it has over 100 branches in Utah, Idaho and Wyoming, as well as over 200 ATMs in the region. The bank offers traditional banking products, plus credit cards, mortgages and investment services through both brick-and-mortar and online banking.

Customer experience

Customer service. Customers can call Zions Bank’s phone service line from 6 a.m. to 9 p.m. MT, Monday through Saturday. The bank also offers 24/7 automated over-the-phone assistance.  

Digital experience. Many digital banking tools are available, including Zelle, online wire transfers, online bill pay and Direct Connect, which connects your account information to Quicken or QuickBooks. The bank’s mobile app has positive reviews on the Apple store and Google Play. 

Extra perks. The bank provides its customers with unique offers and discounts, including regular discounts on tickets to Broadway shows. It also hosts a community speaker series, which is free for customers to attend.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.