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

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Recently, 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 single savings account that will earn you minimal interest on your savings.
  • Checking – Zions Bank offers a high interest checking account that can pay you up to 0.30% 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 up to 2.00% APY (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.

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.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

David started his own personal finance blog, YourFinances101, in June of 2009 and published his first book on ways to save more and spend less called "Don't Be A Mule..." Since then he has been a regular contributor for Money Crashers. He lives just outside Atlanta, GA and most all of his free time is taken up by his amazing three year old son, Nicholas.