Making sure your bank accounts are in line with your personal goals just got easier.
On May 8, Bank of Utah will roll out a new personal bank account lineup that streamlines our checking and savings solutions, to give you more confidence that you have — or that you’re choosing — the right account for you.
For over a year, we talked to new and existing customers, and analyzed bank types and account activity, to ensure Bank of Utah is offering the best account options and features. What we discovered is that everyone wants simplicity. So, we reduced the number of personal checking and savings accounts that we offer — to make it easier to choose the perfect option for your financial goals.
The new accounts will be available to new customers beginning May 8.
Now, introducing the lineup …
Formerly EZ Checking, this account is, well, Easy, just like the name implies! Easy Checking is a simple account with no monthly minimum balance fee and a robust suite of digital tools, including mobile banking, Zelle®, MoneyPass® ATM network, fraud protection features through CardValet, eStatement Promise, digital wallet and more.
An Easy Checking for Students option is also available for students age 16-26, which features a lower required amount to open the account.
For customers 50 and older, Easy Checking includes a free box of checks every year.
Just like a forest of pines brings color to Utah’s mountains both in winter and summer, the Evergreen account is for customers who want to spend day-to-day and save for the long-term. Formerly called the Hybrid account, Evergreen allows customers to earn interest on balances over $500. It features tiered interest, so the more money in the account, the more opportunities to earn.
This account does include a monthly service fee that can be waived based on maintaining an average monthly balance of $10,000.
Evergreen also includes a free box of checks annually for customers 50 and older.
A nationally certified BankOn account, Thrive is for those who may need a fresh start in banking.
Formerly called iSave, the slight name change encourages customers to fill in the blank, ‘I Save for _______’. With just one savings account in the lineup, customers will always know they’re in the right account to earn Bank of Utah’s best savings rates. The I Save account now has more interest tiers than ever before, so the more saved, the more earned.
A Children’s I Save option is also available with the same features, but with a lower required amount to open the account.
The Easy, Evergreen and I Save accounts are all available to open in a branch and online. The student and children’s options for Easy and I Save, as well as Thrive Checking, must be opened in a Bank of Utah branch.
While our new accounts can be opened starting May 8, our existing customers will be converted to the new accounts on a rolling basis. We will send letters to existing customers highlighting updates to each account and noting the date the accounts will convert. We have also created a list of Frequently Asked Questions to help you learn more about the account conversion process. If you still have questions, we are happy to answer them. Never hesitate to reach out to one of our branch managers.
Part of Bank of Utah’s mission is to meet the financial needs of the communities we serve. That's why it’s important to evaluate and innovate our product lineup. These changes have been made with that in mind, so we can continue our commitment to deliver the best financial services possible to you.
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