At a glance

3.8

Bankrate Score

CDs

Checking

Savings

MMA

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

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

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.

Cons

Deposit accounts tend to have APYs that are lower than the national averages.
Umpqua has a smaller ATM network.

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Umpqua Bank banking products

2.9

Bankrate Score

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FEATURES

Umpqua Bank savings overview

The Grow Savings Account is the only savings account offered by Umpqua Bank. (The bank does offer two money market accounts.) You only need $25 to open the Grow Savings Account, and all balances earn the same APY. But you can find higher yields elsewhere.

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

The deposit required to open Grow Savings is only $25.
There are several ways to sidestep the account’s monthly $3 maintenance fee.
Customers ages 18 or under or 55 or older have their monthly service fees waived.
You only need to keep $200 in your Grow Savings account to avoid the account’s monthly service fee.

Cons

Savings accounts with higher APYs and no minimum balance requirements can be found elsewhere, especially at FDIC-insured online banks.

Rate history for Umpqua Bank's Savings account

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

Umpqua Bank

APY

APY last updated between 5/7 and 5/13.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

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

Umpqua Bank

APY

APY last updated between 5/7 and 5/13.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

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Umpqua Bank CD overview

Umpqua Bank offers terms of standard CDs ranging from one month to more than five years, as well as a bump-up rate CD.

The minimum opening deposit is $1,000 for its regular CDs. You can get an additional bonus CD rate when a CD is opened along with the certain Umpqua Bank checking accounts. Customers can get an additional bonus CD rate when a CD is opened along with select Umpqua checking accounts.

The Umpqua website has scant information about the bank's CD products. Potential customers must contact the bank to get rate information and other details.

Pros

The bank offers a range of CD terms.
Umpqua Bank has a 7-month special CD that had a competitive yield on $10,000 new CDs or on $1,000 renewal CDs during Bankrate’s review.

Cons

Lower opening deposit requirements can be found at other banks.
CD penalties can be steep. On CD terms longer than one year, early withdrawals cost 3 percent of the principal amount you withdraw, plus a $25 fee.
The bank doesn’t offer a no-penalty CD, according to its consumer deposit rates sheet.
Higher yields can be found at other banks for regular CDs.

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Umpqua Bank money market overview

Umpqua Bank has two money market accounts, Prosper Money Market and Thrive Money Market. Only $100 is needed to open either account, and both come with an ATM card.

With the Thrive MMA, which Bankrate focused on for this review, a $1,000 minimum balance is needed to avoid a $10 monthly fee.

The Prosper MMA has a $15 fee that is waived if you don’t keep a $10,000 minimum daily balance or a combined balance of $25,000 across eligible accounts.

During Bankrate’s review the Thrive Money Market account had a competitive yield for people who deposited a maturing CD into the account or for people who brought $10,000 or more in money from outside Umpqua Bank.

Pros

Only $100 is required to open the money market accounts.
The Thrive Money Market had a special competitive yield on balances $10,000 or more during Bankrate’s review.

Cons

Higher yields can be found elsewhere.
A $10 monthly maintenance fee applies on the Thrive Money Market if the account balance drops below $1,000.
A $15 monthly fee applies on the Prosper Money Market account if the minimum daily balance drops below $10,000.
Thrive money market account customers are charged 25 cents for every check per monthly statement cycle deposited that exceeds 50.

4.6

Bankrate Score

Compare top checking rates

Umpqua Bank checking overview

Umpqua Bank's Embark Checking is a basic account, requiring only $25 to open and levying no monthly service charge if you sign up for paperless statements. You’ll get a maximum of $10 in non-Umpqua ATM rebates if you keep an average balance of $2,500 or more.

Umpqua also offers Attain Checking. You will need to deposit at least $200 to open Attain Checking and earn a little bit of interest. However, you can earn higher yields elsewhere. You will also earn a little more interest with a CD at the bank, if you open an Attain Checking account.

Pros

Umpqua Bank offers a variety of checking accounts to meet different needs and goals.
With Embark Checking, customers get reimbursed up to $10 in out-of-network ATM fees each month when an average balance of at least $2,500 is maintained.

Cons

The bank charges $2.50 per out-of-network ATM transaction, unless you qualify for a waiver.
All Attain Checking balance tiers earn the same yield of 0.01 percent APY.
There’s a $60 fee to deliver a replacement debit or ATM card in one or two business days.

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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

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.

Umpqua Bank Review 2024

The Bankrate promise

At a glance

Overview

Highlights

Overall

Pros

Cons

We want to know what you think about Umpqua Bank

Umpqua Bank banking products

Umpqua Bank savings overview

Pros

Cons

Rate history for Umpqua Bank's Savings account

Umpqua Bank CD overview

Pros

Cons

Umpqua Bank money market overview

Pros

Cons

Umpqua Bank checking overview

Pros

Cons

Customer experience

Review methodology

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