Zions Bank Review: Regional Locations With Online Accessibility
Written by
Cynthia Bowman
Edited by
Susan Kim
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GOBankingRates Score
Zions Bank
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Checking Accounts
4.3
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Savings Accounts
4.0
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CD Accounts
4.5
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Money Market Accounts
4.0
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Banking Experience
4.3
Pros
- Several checking and savings options
- Online comparison tool to find the best account for you
- Several ways to avoid overdrafts
Cons
- Savings account interest rates are comparatively low
- Few branches for local customers who prefer to bank in person
Zions Bank Overview
Zions Bank was founded in 1873 by Brigham Young and is headquartered in Salt Lake City. It services residents of Utah, Idaho and Wyoming through an online platform, a mobile banking app and 121 local branches. The bank is a subsidiary of Zions Bancorporation (Nasdaq: ZION).
Zions Bank offers personal and business banking, insurance and investment products to customers both in person and online. Zions is also a winner in GOBankingRates’ rankings of the Best West Regional Banks of 2024.
Zions Bank Review
Take a closer look at Zions Bank’s deposit accounts.
Checking Accounts
Zions Bank offers a selection of checking accounts, including its standard and most popular account, Anytime Checking. Zions calls it the perfect blend of digital and traditional banking because it provides a wealth of online features plus in-person banking and U.S.-based customer service.
Anytime Checking accounts include a Visa debit card that supports Apple Pay and Google Pay, digital banking with mobile check deposit, overdraft services and more.
The minimum opening deposit for Anytime Checking is $50, which shouldn’t be a problem for most account holders because they’ll need to deposit money to fund transactions. There are no monthly fees unless you opt for paper statements, which cost $3 per month.
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Anytime Checking doesn’t earn interest, although Zions does offer an interest-bearing version of the account.
An especially noteworthy Zions Bank checking account is Premium Interest Checking, which is a winner in GOBankingRates’ rankings of the Best Premium Checking Accounts of 2024. Rates range from to , depending on your balance. In addition, Zions throws in a free standard safe deposit box, complimentary standard checks, three fee-free ATM withdrawals from non-Zions ATMs each month and rebates of up to three ATM fees charged by other banks.
The minimum opening deposit is $50, and you’ll have to maintain a combined deposit balance of $10,000 or a combined deposit and loan balance of $25,000 to avoid the $20 monthly fee. If you also have a Zions money market account, Zions will waive that monthly fee as well.
All Zions personal accounts are subject to the bank’s overdraft policies. You’ll pay an insufficient funds fee of $29 per paid item. However, Zions gives you ways to avoid overdrafts.
Savings Accounts
Zions Bank offers a standard savings account with a yield of up to , depending on your balance, and a minimum opening deposit of $50. Keep in mind that you’ll need to maintain at least $200 in the account or receive at least $25 in automatic transfers from a linked Zions checking account. Otherwise, you’ll be charged a $3 monthly maintenance fee.
The account allows up to six transactions and transfers per month via pre-authorization, by phone, or via online or mobile funds transfer, so it’s best to pair this account with a checking account if you need an account to pay bills. However, there are no limits on in-person and ATM withdrawals.
CD Accounts
CDs are a good way to lock in an interest rate for a certain period of time. Zions Bank’s offerings made GOBankingRates’ list of the Best CD Accounts of 2024 based on its generous rates, among other factors.
Zions CD terms range from one month to 60 months. One-month CDs earn just APY, but rates are higher for longer terms.
You’ll need to fund a CD with at least $1,000. All balances earn the same rate, and you’ll get the best rate with a six-month term — APY — with the standard CD. Daily compounding maximizes your money’s growth.
Zions also offers an IRA CD with rates and terms that are similar to the standard CD.
Money Market Accounts
Zions Bank has a traditional money market account available online and through branch locations. It has an opening balance requirement of $500 and no monthly service fees.
You’ll need a balance of at least $1,000 to earn interest with the money market account. Rates range from to a high of for balances of $1 million or more.
While you may write checks for easy access to funds with Zions Bank’s money markets, the accounts limit certain types of withdrawals to just six transactions per month. Fortunately, ATM withdrawals aren’t included, so you can withdraw as much cash as you need.
Zions also offers a money market account that is available online only. Rates range from to , depending on your balance. The account has no monthly fee, but it requires a $50 minimum opening deposit. You’ll need a balance of at least $1,000 to earn interest.
Additionally, Zions offers an IRA money market account with a $100 minimum opening deposit and no monthly fee.
Banking Experience
Zions Bank is a regional, brick-and-mortar bank that wants to compete with online-only banks.
Customer Service
Besides visiting a local branch, you can reach customer service Monday through Saturday from 6 a.m. to 9 p.m. MT at 888-307-3411.
Accessibility
There are 121 branches throughout Utah, Idaho and Wyoming. However, it’s entirely possible to handle most of your needs using the online platform or mobile app and Zions Bank ATMs. The machines accept cash deposits and handle other banking needs.
ATM users should be aware that Zions Bank charges $2.50 when you make a transaction or balance inquiry at a non-Zions Bank network ATM. The daily withdrawal limit on a Zions Bank Visa debit card is $500, but point-of-sale and signature purchase daily limits are much higher at $15,500.
Mobile App and Digital Experience
Zions Bank offers online banking and a mobile app. Online banking includes 24-hour access to your balance and transaction history, including loans and credit card balances. You can pay your bills online and transfer money to others with Zelle.
The mobile banking app lets you manage your accounts anywhere, at any time, and you can deposit checks quickly and easily. You can also get your account statements and tax documents online, saving paper and helping the environment. However, travel notifications and e-documents aren’t available via the app. You’ll need the desktop version of online banking for those features.
You can download the app from Google Play, where it received a rating of 4.1 out of 5 stars. The iOS version earned a 4.7 rating out of 5.
Comparable Banking Options
When seeking out a new bank, it’s best to look at all your options. Here’s how Zions Bank stacks up to the competition.
Wells Fargo
Wells Fargo serves 1 in 3 households in the U.S., making it one of the most popular banks in the country. But Zions Bank offers higher interest rates and more personalized service.
Chase
Chase has a product assortment that puts most regional banks to shame, and it often offers a new account opening bonus. But if you’d rather get a higher rate of interest all the time, take a good look at Zions Bank.
Final Take
Zions Bank is a regional brick-and-mortar bank with online banking tools, and its online-specific accounts offer better interest rates than its basic accounts.
While Zions is clearly catering to the customer who wants to do all their banking online, the mobile app is limited — you can’t use it to open an account or apply for a loan, for example — so the bank’s strength still lies in its local presence. That makes it a good choice for customers who do some banking online but want the personalized attention they’ll get from their local branch location.
FAQ
Here are the answers to some commonly asked questions about Zions Bank.- Is Zions a real bank?
- Yes, Zions Bank is a real bank with both local branch access and online banking capabilities.
- Is Zions Bank a good bank?
- Yes, for the right customer, Zions Bank is an excellent choice. It ranked as a finalist in GOBankingRates' Best West Regional Banks of 2024.
- Is Zions Bank FDIC insured?
- Yes, Zions is FDIC insured.
- Is Zions a Mormon bank?
- Zions makes no mention of religious affiliation on its website.
- Who owns Zions Bank?
- Zions Bank is a division of Zions Bancorporation, N.A. (Nasdaq: ZION), a publicly traded company.
- How many branches does Zions Bank have?
- Zions Bank has 121 branches in Utah, Idaho and Wyoming.
- Does Zions Bank have mobile deposit?
- Yes — with the Zions Bank mobile app, you can deposit checks, as well as transfer funds, check balances and more.
- What services does Zions Bank offer?
- Zions Bank offers checking accounts; savings accounts; money market accounts; CDs; credit cards; personal, auto, student and home loans; private banking and wealth planning; and business banking.
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Can you cash a check at Zions Bank without an account?
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Yes, but only if it's drawn on Zions Bank.
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Daria Uhlig and Karen Doyle contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 19, 2023.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
To discover the Best Regional Banks, GOBankingRates looked at the top regional institutions (excluding online banks and neobanks) located in under 25 states. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage based on the minimum to avoid the fee compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple app stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighted 0.5 times; factor (5) was weighted 2.5 times; and factor (7) was weighted 1.5 times.
For regional breakdowns, the same methodology as above was used. The regions were broken down into the following: West (AK, CA, CO, HI, ID, MT, NV, OR, UT, WA, WY); Southwest (AZ, NM, OK, TX); Midwest (IA, IL, IN, KS, MI, MN, MO, ND, NE, OH, SD, WI); Southeast (AL, AR, DC, FL, GA, LA, KY, MS, NC, SC, TN, VA, WV); and Northeast (CT, DE, MA, MD, ME, NH, NJ, NY, PA, RI, VT). To be considered for a region, a bank had to have a branch in one of the states listed and be headquartered in that state/region.
To determine rankings for the Best Premium Checking Accounts, GOBankingRates looked at the following factors from the most premier/costly checking product from the top 25 banks (in terms of total assets): (1) total assets as sourced from the FDIC; (2) minimum deposit to open an account; (3) monthly checking fee ratio (percentage based on the minimum to avoid the fee compared to the monthly fee itself); (4) APY on the checking account; and (5) associated and advertised benefits/perks from these premium products. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighted 0.5 times, and factor (5) was weighted 3 times.
To determine rankings for the Best CD Accounts, GOBankingRates looked at the following factors from all banks (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) 12-month CD APY; (5) 60-month CD APY; and (6) the average mobile app rating between the Google Play (Android) and Apple app stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighted 0.5 times, factor (3) was weighted 2 times, and factors (4) and (5) were weighted 4 times.
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