Umpqua Bank fits the definition of a full-service bank.
But not only do they offer hundreds of branch locations in their five-state area of operations, but they also offer complete online banking.
It enables you to earn high interest on CDs, and take advantage of all the services you would expect from a traditional brick-and-mortar bank – including physical locations.
Umpqua Bank Review
Umpqua Bank is a full service bank with over 350 locations in the western portion of the US. They also offer full online and mobile banking services for those who do not live in their region. In addition to traditional banking services, such as checking, savings, and CDs, Umpqua Bank offers five different rewards credit cards, many of which are competitive with the offers found through the larger credit card issuers. Perhaps the biggest advantage Umpqua Bank has is their business banking. They offer the full range of business banking services, including business financing for equipment and real estate, and merchant services. Learn more at the Umpqua Bank website.
Umpqua Bank is a full-service bank with online availability. It is offered only to residents of five states – Oregon, Washington, California, Idaho, and Nevada.
But if you are a resident of one of those states, the bank offers a solid combination of high interest CDs, along with credit cards with very generous rewards programs, the full range of business banking services, as well as investment services and private banking.
About Umpqua Bank
Based in Portland, Oregon, Umpqua Bank is bank with a growing online presence, that has its roots as a small town Community Bank.
It was founded in 1953, in the small town of Canyonville, Oregon. But the bank has since grown into a major regional bank, with more than 350 branches in Oregon, Washington, California, Nevada, and Idaho. As of 2018, Umpqua Bank has assets of $26.5 billion, and deposits of $20.7 billion. It is one of the 60 largest banks in the US.
It’s parent company, Umpqua Holdings Corporation, is publicly traded (NASDAQ: UMPQ). The Corporation also owns Umpqua Investments, Inc., which operates out of Umpqua Bank stores and dedicated offices in Oregon.
In addition, there is also Umpqua Private Bank, which serves high net worth individuals and nonprofits, and provides trust and investment services.
Umpqua Bank Features
|Banking Account Types||Checking, Savings, CDs, Money Markets and Business Banking|
|Other Account Types||Credit Cards, Personal Loans, Home Loans, IRAs, Investments|
|Minimum Required Deposit to Open Account||$25 – $100|
|Number of Branches||350|
|ATM Network Size||Umpqua Bank ATMs in Oregon, Washington, California, Nevada and Idaho|
|ATM Reimbursements||Yes, see requirements under Umpqua Checking Accounts below|
|Remote Deposit Availability||Yes|
|App Availability||iOS, Android|
|Person to Person Money Transfers||Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, Garmin Pay|
|Money Transfers||ACH, Wire Transfers|
|Customer Service Types||Phone, email|
|Customer Service Hours||Mon-Fri, 7am-7pm
|Member FDIC||FDIC Certificate #17266|
|Routing Number / ABA Number||#123205054|
|Current Promotions||– Get a $500 Home Loan Credit when you open a personal checking account with at least $1,000, with monthly recurring direct deposits of $500 or more
– See More Bank Promotions.
Umpqua Bank Financial Products & Services
In addition to offering online savings and checking, Umpqua Bank also provides many of the banking services you might expect to find in a full-service bank:
- Savings Products, CDs & IRAs
- Three different Checking Account offers
- Credit Cards
- Personal Loans & Home Loans
- Investing and Private Banking
- Business Banking
Umpqua Bank Savings Accounts, Money Market, CDs, and IRAs
Umpqua Bank offers a variety of savings accounts. These accounts do have a monthly service charge, which can be waived with a minimum daily balance (varies by account). You can compare these Umpqua Bank savings accounts with the best online savings accounts to see which meets your needs.
Grow Savings. This is an interest-bearing account that also comes with ATM access. It requires a minimum of $25 to open, and has a $3 monthly service charge. That charge can be waived with $200 or more daily balance, or the primary signer is under 19, or over 54.
It can also be waived when you complete a monthly transfer from an Umpqua personal deposit account. You can get three complementary (no monthly service fee) Grow Savings or Thrive Money Market accounts when linked to Access Checking, and up to five when linked to Attain Checking.
Thrive Money Market. This is an interest-bearing account, with a minimum initial deposit of $100. $10 monthly service charge is waived with a $1,000 minimum daily balance.
Link to an Access Checking and get up to three Grow Savings and Thrive Money Market accounts with no monthly service charge, or up to five accounts when you link to an Attain Checking account. Check deposits in excess of 50 per month are charged a fee of $0.25 per check.
Prosper Money Market. This is an interest-bearing account with a minimum initial deposit of $100. $15 monthly service charge waived with $10,000 minimum daily balance, or $25,000 combined deposit and outstanding loan balance in eligible accounts (excludes mortgages and credit cards).
Earn higher interest when your account is linked to an active personal checking account (at least one transaction per month). Check deposits in excess of 50 per month are charged a fee of $0.25 per check.
Certificates of Deposit (CDs). Umpqua Bank CDs require a minimum initial deposit of $1,000 ($75,000 maximum), and charge no monthly service fee. The 13-month CD currently pays 1.85% APY (as of July 27, 2018).
Business CD Term Account. Minimum initial deposit of $1,000, with no monthly service fee. Multiple term options available.
IRA Accounts. Both traditional and Roth IRA accounts are available, using either a savings account or a CD.
Umpqua Bank Checking Accounts
Access your account with an Umpqua Visa Debit Card. Umpqua Bank does not participate in a national ATM network. Its ATMs are available only in Oregon, Washington, California, Nevada, and Idaho. There is also a fee of $2.50 per transaction at non-Umpqua Bank ATMs.
There is no charge for paperless statements. However, there is a $3 per month charge if you prefer a paper statement. The fee is waived if the primary account holder is 62 or older.
Umpqua Bank charges $15 for each domestic or international wire transfer into your account, unless waived for a specific checking account.
Umpqua Bank Mobile App offers mobile check deposits, mobile bill pay, instant internal transfers, custom alerts, and Touch ID/Fingerprint login.
Umpqua Bank offers three different checking accounts:
Embark Checking. No-frills checking account, with no monthly maintenance fee. You can get $10 in non-Umpqua ATM fee rebates per month, with an average monthly balance of at least $2,500. You can also get a Grow Savings account with no monthly maintenance fee when you complete a monthly transfer from your Embark Checking into you Grow Savings account. Minimum opening balance, $25.
Access Checking. Comes with $5 monthly service fee, waived with 10 or more posted debit card purchases or payments per month, or one direct deposit of $500 or more per month, or one mobile deposit of $250 or more per month.
Up to four non-network ATM fees will be rebated each month. You can also have up to three Grow Savings or Thrive Money Market accounts with no monthly service fee. One incoming wire transfer fee per month is refunded on this account. Minimum opening balance, $25.
Attain Checking. Interest-bearing bearing checking account. $20 monthly service fee, waived with a $15,000 minimum daily balance, or $25,000 in combined deposits and outstanding loan balances in eligible accounts (excludes mortgages and credit cards).
Receive up to $25 per month in non-network ATM fee rebates. Up to five Grow Savings or Thrive Money Markets accounts with no monthly service fee. Receive free wallet Umpqua checks when ordering through Harland Clarke.
Bonus interest eligible at the time of opening a new CD or during the CD grace period. Complementary incoming wire transfers. Minimum opening balance, $200.
Umpqua Credit Cards
Umpqua Bank offers five different credit cards:
Visa Platinum. This is a non-rewards card with a 0% introductory offer for the first 15 months on both purchases and balance transfers. There is no annual fee, and the ongoing APR is 13.74% to 22.74%.
Visa Real Rewards. Earn an unlimited 1.5 points for every $1 you spend, with five years to redeem. 2,500 bonus points awarded after the first purchase, redeemable for $25 cash, merchandise, gift cards, or travel savings. 0% introductory APR for the first six months for purchases and balance transfers, then 15.74 to 24.74% APR. There is no annual fee.
Cash Rewards American Express. Earn 3% cash back on gas for the first $6,000, 2% on supermarket purchases, and 1% on everything else. There’s no limit on cashback, and you have five years to redeem. $25 cash back reward bonus after the first purchase. 0% introductory APR for the first six months on purchases and balance transfers, then 15.74 to 24.74% APR. There is no annual fee.
Premier Rewards American Express. Earn 4 points for every $1 spent at eligible restaurant purchases, 3 points for every $1 spent on eligible airline purchases, 2 points for every $1 spent on eligible gas station purchases, and 1 point for every $1 spent on all other eligible purchases. There’s no limit on points, and you have five years to redeem. 10,000 bonus rewards points after you spend at least $1,000 in the first three months (worth $100). 15.74% to 24.74% APR. There is no annual fee the first year, then $99 per year.
Secured Visa Card. If you’re looking to rebuild credit, you can receive a credit line of up to $5,000, secured by a savings account. The current APR is 22.74%, and there is a $35 annual fee. You can use it just like a regular Visa card, and merchants won’t know the difference.
Umpqua Home Loans and Personal Loans
Umpqua offers six different types of loans:
Home Mortgages. Fixed and adjustable-rate loans. Available for first-time homebuyers, construction and renovation, Jumbo loans, VA loans, low down payment options, investment properties and second homes, and special physician loans. Open a personal checking account with at least $1,000 (with recurring deposits) and you can get a $500 credit toward your loan costs.
Home Equity Lines of Credit (HELOC). Available in amounts from $5,000, to $500,000, based on the equity in your home. Variable interest rates with an optional lock-in feature. 10-year draw, with a 20-year repayment term. No origination fee.
Term Loans. Loans available for up to $100,000, with a fixed interest rate, and a term of up to four years. No collateral is required. Secured term loans are available with a much lower rate, and for up to five years.
Lines of Credit. Revolving line of credit up to $50,000, with no origination fee. Comes with a variable interest rate, and a $35 annual fee. The Executiveline credit line can be as high as $100,000, with a $75 annual fee and a $250 origination fee.
Auto Loans. Minimum loan amount of $3,000, up to 100% of the purchase price of the vehicle. Terms between two years and seven years, with a $100 origination fee. Loans for used vehicles available up to a maximum age of 10 model years.
Boat or RV Loans. Financing for up to 90% of the value of the boat or RV, with a fixed interest rate. Boat or RV can be new or used, and terms are between four years and 15 years. $100 origination fee.
Umpqua Bank Investments and Private Banking
Umpqua Investments is a branch of Umpqua Holdings. It works as an independent boutique company that provides a custom investment strategy for each individual.
You work with a financial advisor who will help you create your portfolio, manage risk, save for education and retirement, and even plan your estate and gifts to charities.
Private Banking involves working with a private bank advisor, to create a holistic financial plan that will address savings, retirement, investing, or even establishing a trust. They’ll also help you to create a unique investment portfolio, which you can manage yourself, or have managed for you.
Umpqua Bank Business Banking
This is one of the features that most distinguishes Umpqua Bank from the competition. It offers a full range of business banking services. This includes business checking and savings accounts, which include online and mobile banking.
Business banking includes merchant services, payroll solutions, e-commerce solutions, and ACH payments. They also provide business credit cards and commercial bank advisors to help you manage your business.
They also provide business loans including:
- Business term loans
- SBA loans
- Real estate loans for commercial, residential, and multifamily properties
- Equipment leasing and financing up to $15 million
- Business vehicle financing
Opening an Account at Umpqua Bank
The entire application process happens online, and takes only a few minutes.
You’ll need to provide the usual information for financial institution applications, including your Social Security number, date of birth, address, and personal ID information, such as your driver’s license. You’ll also be requested to provide certain financial information.
And of course, you need to have an external bank to link to your Umpqua Bank account for funding purposes.
In order to be eligible, you must be at least 18 years old, a US citizen, and living in California, Washington, Oregon, Idaho, or Nevada.
Umpqua Bank Customer Service
Umpqua Bank’s customer service is available Monday through Friday, from 7:00 AM to 7:00 PM, and on Saturdays and Sundays, from 8:00 AM to 5:00 PM.
They are available by phone, regular mail and email:
- Phone: (866)486-7782
- Address: Umpqua Bank, P.O. Box 1820, Roseburg, OR 97470
- E-mail: https://www.umpquabank.com/contact-us/ (via website)
And of course, if you live in Oregon, Washington, California, Nevada, or Idaho, you may be able to visit a local branch.
Other Features at Umpqua Bank
- Ability to choose paper or electronic statements ($3 charge for paper statements).
- Export your Bank transactions to Quicken and QuickBooks.
- Do your business banking at the same bank where you do your personal banking.
Frequently Asked Questions:
Can I have both personal and business accounts?
Yes, that includes checking and savings accounts, as well as credit cards and other loan types.
Does Umpqua Bank offer mortgage financing for veterans and members of the military?
Yes. Veterans and members of the military are eligible to apply for any mortgage loan type offered by the bank. But Umpqua also offers VA loans specifically designed for present and former members of the military. The biggest benefit of this loan type is that it requires no down payment on the part of the eligible veteran.
Will I be automatically approved for a credit card as an Umpqua Bank customer?
You will be eligible to apply for a credit card offered by the bank. However, your approval, and the interest rate you will pay, will be determined by your credit worthiness.
Umpqua Bank – Advantages & Disadvantages
- Credit cards offer a winning combination of 0% introductory APR and very generous cashback rewards.
- Provides the full range of loan products which is unusual among online banks.
- Offers business banking.
- 350 local branches available in Oregon, Washington, California, Nevada, and Idaho.
- Not available to residents outside Oregon, Washington, California, Nevada, and Idaho.
- ATM network limited to Oregon, Washington, California, Nevada, and Idaho. Others will need to go out of network. Plus there is a $2.50 per transaction charge at non-Umpqua Bank ATMs.
- Incoming wire fee of $15 per transaction in Embark and Access checking accounts.
- No interest paid on two of three available checking accounts.
- Umpqua Bank is rated D- by the Better Business Bureau on a scale from A+ to F (lowest).
Umpqua Bank offers competitive rates on their CDs, certainly much higher than what you can get at traditional brick-and-mortar banks.
They also offer five different credit cards that are especially strong with rewards. In fact, their credit cards are some of the most competitive in the industry in this category.
Perhaps the biggest advantage Umpqua Bank has is their business banking. They offer the full range of business banking services, including business financing for equipment and real estate, and merchant services.
It’s a real opportunity to do your business banking with the same institution where you do your personal banking.
Umpqua Bank Umpqua Bank offers a full-service banking experience including checking, savings, credit cards, loans, mortgages, business banking accounts, and more. Full Disclosure: We earn a commission if you click this link and make a purchase, at no additional cost to you.