Zions Bank

Zions Bank Review – High Interest Savings, Checking & Money Market Accounts


Zions Bank

zions bank logoRecently, I’ve been looking to switch banks and find a new partner to support my banking needs. For now, I’m searching for a personal account, but eventually, I’ll need business banking solutions as well. Therefore, I need to weigh both the business and personal products offered by the banks I’m considering.

Though I have not yet made my final decision, one the of firms at the top of my list is Zions Bank. They have been in business for over 135 years, so you know that they possess tradition and history – two big pluses in today’s unstable banking world. They have¬†FDIC insurance coverage (another security blanket) and offer some of the best interest rates around.

Here is what I’ve found during my in-depth investigation of Zions Bank’s services.

Products and Services

1. Personal Banking

Zions Bank offers quite a few different personal banking options, and one of them is sure to be right for you. Below is a brief breakdown of some of their most popular options.

  • Savings – They currently offer a Internet savings account that will earn you 1.01% APY. On the surface, this rate may not seem like much, but if you’ve looked into the rates other banks are offering for basic savings accounts, you probably know that this rate is quite competitive. There are many different savings tiers and packages to choose from.
  • Checking – Zions Bank offers a high interest checking account that can pay you up to 0.40% APY, depending on your account balance.¬† They also have a variety of other checking account options to consider so you can find one that suit your needs.
  • Money Market – In addition to basic checking and savings, there is a money market account available that is currently earning 1.01% (with a minimum balance of at least $2,500). This type of account is another great way to save for your future.

Some restrictions and minimum balance requirements apply (i.e. $100 to open a savings account, among others) but none of the requirements are so high that the “average Joe” can’t meet them. As I’ve mentioned, Zions Bank offers a wide variety of options, so be sure to check out their website to discover what will work for you.

zions bank savings

2. Business Banking

This is where I truly feel that Zions Bank stands head and shoulders above the rest. Their business banking solutions are truly cutting-edge.

  • Everything in One Place. With Zions Bank, you have the ability to link your personal and business accounts, a service that not all banks offer, believe it or not.
  • Caters to Businesses of All Sizes. Whether you have a small start-up business or a thriving commercial endeavor, Zions Bank can help you open accounts and open up more opportunities for your business.
  • A Multitude of Business Solutions. Zions Bank offers business solutions such as treasury management, corporate trusts, SBA-approved loans, economic forecasts, e-commerce solutions and merchant account services.

Honestly, if you’re a business owner, what else could you ask for? And I haven’t even touched on all the products they offer for your business banking needs. The list is so comprehensive that you really need to take a look at their site to get a better idea of all the features.

3. Investments

Zions Bank has partnered with Zions Direct, Zions Investment Services Group, and the Western National Trust Company (WNTC) to bring a variety of investment options, trust administration, and wealth management services to all of their clients. Through these partners, they are able to:

  • Offer online investment options with low bond and equity commissions
  • Access over 12,000 mutual funds
  • Give you access to a broad selection of investment and financial planning services, all tailored to your individual needs

4. Specialty Services

If everything I’ve already mentioned isn’t enough, Zions Bank also provides you with the opportunity to take advantage of quite a few specialty services including options for foreclosed properties, retirement planning, agricultural finance, and executive banking services. Though you may never need any of these, isn’t it nice to know that the options are there?

A Word to the Wise

In any reviews that I do, I always try to present both sides of the coin. Therefore, although my review has been “glowing” up to this point, I want to let you know that Zions Bank has had a few “hiccups” in the recent past.

During my research, it came to my attention that this bank was recently fined $8M by the Office of the Comptroller for lax wire transfer procedures. Although the violations occurred roughly 4-5 years ago, they apparently failed to monitor billions of dollars worth of illegal wire transfers.

Could this affect you personally as an individual account-holder? Probably not, but it is certainly information worth mentioning.

Final Word

Overall, Zions Bank really seems to care about providing the most comprehensive set of products, as well as the best customer service possible. One look at their tag line, “We Haven’t Forgotten Who Keeps Us in Business,” tells you that, unlike many businesses today, they understand that they would be nothing without their customers.

Another sign of their commitment to customer service is the link on their homepage that says “Contact The President.” They want you, the consumer, to know that your satisfaction is their number one priority. If you have a problem, they welcome you to take it to the top.

As someone who is currently looking for a new banking partner, this type of customer-centric focus really resonates with me. Whether business or personal, Zions Bank truly seems to be a one-stop-shop for all of your banking needs. After a lot of research, they’re definitely among my top picks for a new financial institution.

Have you had any personal experience with Zions Bank? Feel free to leave your comments or feedback below.

Comments Disclosure: The below responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

  • http://www.rabbitfunds.com Adam

    I have a couple of concerns about your review. You talk about Zions’ commitment to customer service based on the fact that they have a link title “Contact The President” and tagline saying “We haven’t forgotten who keeps us in business.” I could use the tagline “Best website ever” and it doesn’t make it true. Further, contacting the President could yield a response from a college intern and you would never know it. Or worse yet, it may just yield an auto-response.

    My point is that your review is based on the platitudes on their website, not experience or the in-depth research you claim in the post. In fact, this feels like a promotion for Zions rather than a review.

    I’m actually a former Zions Bank customer (used them for about 7-8 years) and its headquarters are just down the street from me. So if you want to give a legit review of the customer service of a company, talk to customers or former customers. Regurgitating the company’s website provides little value.

    • killerasteroid

      Adam: If as you say that:
      “…if you want to give a legit review of the customer service of a
      company, talk to customers or former customers. Regurgitating the
      company’s website provides little value.”

      then since you WERE a customer for 7-8 years, then tell us what you think and why the review is “based on platitudes not on experience” as you say.

      Bottom line: you complain about the review, then say if you want to know about Zion you need to ask customers or former customers, then you announce yourself as a former customer for 7-8 years and then you leave us hanging with NO INPUT from you (as a former customer). What’s wrong with this picture?

  • Hanh

    Actually I use to work as an officer for one of the banks that is part of the Zions group. It is true that you can reach the president of the bank. You do have direct access and even to employees, there is an open door policy all the way to the top. The CEOs are very approachable and even announced me when I was a new employee during the monthly officers meeting. I use to work for JP Morgan Chase and there is no way you can e-mail Jamie Dimon, but you can here in your global address book. It was a great job and I loved it. I only left because I went out of state to move with my fiance’ and unfortunately, Georgia doesn’t have any faction of Zions. Out of all the banks I have worked for, their interest rates and products are one of the best in the industry. Even after moving away, we still have not closed our accounts.

  • David Bakke


    Thank you so much for your informative feedback–its always nice to hear from someone with firsthand experience.

    Hope to see you again here!