Zions Bank Review: Checking, Savings, CD, Money Market, and IRA accounts

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners.

Written By

Updated on Sunday, November 1, 2020

Zions Bank’s checking account options

Anytime Checking

Anytime Checking is Zion’s bottom-tier checking account, with no fees and basic account services.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $0
  • ATM fee: $0 at Zions Bank ATMs; $2 at domestic, non-Zions ATMs; 3 percent of US dollar amount of transaction at international ATMs
  • ATM refund: none
  • Overdraft fee: $32, up to five times per day; can be reduced to $5 with transfer from backup account; after five consecutive days of account being overdrawn an additional $5 fee is assessed, up to a maximum of 30 calendar days

Customers looking to get a basic checking account at Zions Bank can look to the Anytime Checking account. With a low minimum opening deposit and no monthly fees, Anytime Checking can be a good introduction to Zions Bank’s services. There are no fees at any Zion ATMs, although fees are levied on non-Zions ATMs. Customers who travel abroad should be wary of the account’s high international ATM fees, which are standard across all Zions accounts. Anytime Checking also carries Zions Bank’s standard overdraft fee, which is high but can be reduced by setting up a backup overdraft account, like a savings account.

Servicewise, Anytime Checking doesn’t offer a lot beyond the basics. Customers get a Zions Bank debit card that can be used wherever Visa is accepted. Anytime Checking also offers online banking and bill pay, allowing customers to manage finances through mobile devices or computers, along with mobile check deposit. Customers also have access to the money transfer service Zelle.

SEE DETAILS Secured

on Zions Bank’s secure website

Anytime Interest Checking

Anytime Interest Checking is the lowest-level Zions Bank checking account that pays interest.
APYMinimum Balance to Earn APY
0.01%$0.01
0.01%$1,000
0.01%$2,500
0.01%$5,000
0.01%$25,000
0.01%$100,000
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $10; waived with a minimum daily balance of at least $1,500 or a combined deposit and consumer loan balance of $10,000+
  • ATM fee: $0 at Zions Bank ATMs; $2 at domestic, non-Zions ATMs; 3 percent of US dollar amount of transaction at international ATMs
  • ATM refund: none
  • Overdraft fee: $32, up to five times per day; can be reduced to $5 with transfer from backup account; after five consecutive days of account being overdrawn an additional $5 fee is assessed, up to a maximum of 30 calendar days

Anytime Interest Checking offers most of the same basic perks as Zions Bank’s Anytime Checking: online banking, mobile check deposit and access to money transfer service Zelle are all available. However, Anytime Interest also offers these additional benefits:

  • A no-fee, standard-sized (3” x 5”) safe deposit box, or a $10 discount on a larger box
  • One out-of-network ATM fee waiver per month
  • Free Zions Bank Exclusive checks, or a 45 percent discount on other check designs

As the name implies, Anytime Interest Checking also pays interest on all balances. In exchange for these added features, Anytime Interest Checking levies a monthly fee, although it can be avoided by maintaining a minimum balance.

SEE DETAILS Secured

on Zions Bank’s secure website

Member FDIC

Premium Interest Checking

Premium Interest Checking pays Zions Bank’s highest interest rates, although the hurdles to avoid a monthly maintenance fee are also higher.
APYMinimum Balance to Earn APY
0.01%$0.01
0.01%$1,000
0.01%$2,500
0.01%$5,000
0.03%$25,000
0.05%$100,000
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $20; waived with a combined deposit balance of $10,000+ or a combined deposit and consumer loan balance of at least $25,000
  • ATM fee: $0 at Zions Bank ATMs; $2 at domestic, non-Zions ATMs; 3 percent of US dollar amount of transaction at international ATMs
  • ATM refund: up to three per month at non-Zions ATMs
  • Overdraft fee: $32, up to five times per day; can be reduced to $0 with a transfer from a backup deposit account or credit reserve line.

The Premium Interest Checking account at Zions Bank carries the features of the Anytime Interest Checking account, including the discount on check orders and the free standard safety deposit box. Some key additional benefits are included though, including the following:

  • No-charge overdraft protection with linked account
  • Three non-Zions ATM fee rebates per month
  • No monthly fee on linked savings or money market account

The Premium Interest account pays Zions Bank’s highest checking rates, across six tiers. Deposits of $100,000 or more are required to earn the best APY.

How to get Zions Bank’s checking accounts

As mentioned above, all of Zions Bank’s checking accounts can be opened online in about five or 10 minutes. Customers also have the option to visit a Zions Bank branch or call customer service at (866) 761-8349.

SEE DETAILS Secured

on Zions Bank’s secure website

Member FDIC

magnifying glass

How Zions Bank’s checking accounts compare

Overall, Zions Bank’s checking accounts don’t stand out on a national comparison basis. Although the basic Anytime Checking account provides some standard services for no fee, the bank’s other two checking accounts require maintaining balances to avoid fairly high fees. The payouts on the two interest-bearing accounts are below the national average, even at the highest tiers, and are not competitive at all when compared with the best rates for checking accounts available nationally.

Zions Bank’s savings account options

Savings account

This account is Zions Bank’s only primary savings account option; its simple name reflects the straightforward nature of the account.
APYMinimum Balance to Earn APY
0.03%$0.01
0.03%$1,000
0.03%$5,000
0.03%$25,000
0.03%$50,000
0.03%$100,000
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $3; waived with a minimum daily balance of $200+ or monthly transfers from a Zion checking account of $25 or more
  • ATM fee: $0 at Zions Bank ATMs; $2 at domestic, non-Zions ATMs; 3 percent of US dollar amount of transaction at international ATMs
  • ATM refund: none
  • Overdraft fee: $32, up to five times per day; can be reduced to $5 with transfer from backup account; after five consecutive days of account being overdrawn an additional $5 fee is assessed, up to a maximum of 30 calendar days

The Zions Bank Savings account doesn’t offer a lot of bells and whistles, but it does come with the standard features most customers look for when opening a savings account. Although there is a modest fee attached to the account, it’s easily waived with a small deposit. Customers have access to an ATM card that allows fee-free access at Zions Bank ATMs, although a fee is levied for non-network withdrawals. Interest is earned on all balances and is tiered, although rates are currently identical across all tiers.

Like other savings and money market accounts, withdrawals by check, debit card, or pre-authorized computer or telephone transfers to another account are limited to six per statement cycle. If these limits are broken three times over a 12-month period, Zions Bank will either close the account or change it to a different type of account. Additionally, a $5 fee will be assessed per excess transaction.

SEE DETAILS Secured

on Zions Bank’s secure website

Member FDIC

Young Savers

Unlike other banks’ youth savings accounts, eligibility for the Zions Bank Young Savers account extends all the way into an account holders mid-20s.
APYMinimum Balance to Earn APY
0.03%$0.01
0.03%$100
0.03%$500
0.03%$1,000
0.05%$10,000
0.05%$50,000
  • Minimum opening deposit: $5
  • Monthly account maintenance fee: $0 for customers age 25 or younger
  • ATM fee: $0 at Zions Bank ATMs; $2 at domestic, non-Zions ATMs; 3 percent of US dollar amount of transaction at international ATMs
  • ATM refund: none
  • Overdraft fee: $32, up to five times per day; can be reduced to $5 with transfer from backup account; after five consecutive days of account being overdrawn an additional $5 fee is assessed, up to a maximum of 30 calendar days

The Zions Bank Young Savers account is a variation of the bank’s basic Savings account, but for younger customers. The Young Savers account has a lower minimum than the standard savings account, along with no monthly fee. Standard online and mobile features apply, including access to an ATM card. However, online bill pay is not available with the Young Savers account.

Account holders can maintain this account until they turn 26, at which point it converts to a regular savings account. As with the standard savings account, certain withdrawals are limited to six per month, with a $5 fee applying to each additional withdrawal. Zions Bank also reserves the right to close or change the account if this limit is exceeded more than three times in a 12-month period.

How to get Zions Bank’s savings accounts

As mentioned above, all of Zions Bank’s savings accounts can be opened online in about five or 10 minutes. Customers also have the option to visit a Zions Bank branch or call customer service at (866) 761-8349.

SEE DETAILS Secured

on Zions Bank’s secure website

Member FDIC

magnifying glass

How Zions Bank’s savings accounts compare

Zions Bank has limited options when it comes to savings accounts. The rates paid on both the standard Savings account and the Young Savers account are far below the national averages in their categories, and the accounts don’t come with any noteworthy additional features. The best available national savings rates are far better than those you can get at Zion.

Zions Bank’s CD account options

Regular CDs

Zions Bank’s regular CDs come in a wide range of maturities, from one month to five years.
TermAPYMinimum Balance to Earn APY
1 month0.05%$1,000
3 months0.20%$1,000
6 months0.50%$1,000
9 months0.65%$1,000
12 months1.31%$1,000
18 months1.41%$1,000
24 months1.51%$1,000
36 months1.61%$1,000
48 months1.77%$1,000
60 months1.92%$1,000
  • Minimum opening deposit: $1,000
  • Minimum balance to earn APY: $1,000
  • Early withdrawal penalty: all interest for terms of 31 days or less; 90 days’ interest for terms from 32 days to one year; 180 days’ interest for terms of over one year

Zions Bank CDs have fixed rates that are compounded daily. At Zions, CDs renew automatically at maturity for a similar period unless otherwise notified by the bank. A grace period of 10 calendar days applies to most maturing CDs, during which time customers can withdraw funds without facing the early withdrawal penalty. That period drops down to three calendar days for certificates of 31 days or less.

SEE DETAILS Secured

on Zions Bank’s secure website

Member FDIC

Jumbo CDs

Zions Bank jumbo CDs have the same maturity schedule as the bank’s standard CDs, but with a higher required deposit.
TermAPY Minimum Balance to Earn APY
1 month0.05%$100,000
3 months0.20%$100,000
6 months0.60%$100,000
9 months0.75%$100,000
12 months1.41%$100,000
18 months1.51%$100,000
24 months1.61%$100,000
36 months1.71%$100,000
48 months1.87%$100,000
60 months2.02%$100,000
  • Minimum opening deposit: $100,000
  • Minimum balance to earn APY: $100,000
  • Early withdrawal penalty: all interest for terms of 31 days or less; 90 days’ interest for terms from 32 days to one year; 180 days’ interest for terms of over one year

Jumbo CDs require a minimum deposit of $100,000. At Zions Bank, they are otherwise identical to standard CDs. Both maturities and rates paid are currently the same at Zions for both jumbo and standard CDs.

Jumbo CDs also have the same automatic renewal policy as the bank’s standard CDs, meaning customers have a 10 calendar days in which to cash out a CD before triggering an early withdrawal penalty, or three days if the CD maturity is 31 days or less.

The early withdrawal penalty is also identical for both standard and jumbo CDs at Zion, ranging from all interest for the shortest maturities to 180 days’ interest for maturities of one year or longer. This penalty may be waived if a depositor is declared incompetent, dies, or at Zion’s discretion.

SEE DETAILS Secured

on Zions Bank’s secure website

Member FDIC

CD Special

Zions Bank CD specials are subject to change at any time; currently, one maturity offers a special rate.
TermAPYMinimum Balance to Earn APY
12 months2.30%$1,000
  • Minimum opening deposit: $1,000
  • Minimum balance to earn APY: $1,000
  • Early withdrawal penalty: 90 days’ interest

To qualify for the special CD rate at Zions Bank, customers must have a qualifying checking relationship. Money must also be deposited from a new source, and not from another account at Zions. Otherwise, the special rate CD has the same minimum balance and early withdrawal penalty characteristics of Zions Bank’s standard CDs.

How to get Zions Bank’s CDs

As mentioned above, customers can apply for a Zions Bank CD through an online application form. Another option is to visit a Zions Bank branch or call customer service at (866) 761-8349.

SEE DETAILS Secured

on Zions Bank’s secure website

Member FDIC

magnifying glass

How Zions Bank’s CD rates compare

Zions Bank’s CD rates are generally slightly below the national average CD rates across all maturities. The standout product is the special rate CD. Here, rates are far above average, and are even competitive with the best available national CD rates. Rates are subject to change at any time, but the current 12-month special is among the very best CDs you can find. You will, however, have to maintain a checking account relationship with the bank to earn this yield.

Zions Bank’s money market account options

Money Market Savings

The Zions Bank Money Market Savings account has a tiered interest structure, ATM and check writing access and no monthly maintenance fee.
APYMinimum Balance to Earn APY
0.02%$1,000
0.02%$5,000
0.04%$25,000
0.08%$100,000
0.09%$250,000
  • Minimum opening deposit: $500
  • Monthly account maintenance fee: $0
  • ATM fee: $0 at Zions Bank ATMs; $2 at domestic, non-Zions ATMs; 3 percent of US dollar amount of transaction at international ATMs
  • ATM refund: none
  • Overdraft fee: $32, up to five times per day; can be reduced to $5 with transfer from backup account; after five consecutive days of account being overdrawn, an additional $5 fee is assessed, up to a maximum of 30 calendar days

For savers with at least $1,000 to set aside, the Zions Bank Money Market account pays a higher yield than the bank’s traditional savings account. The Money Market account also allows check writing and has ATM access. However, as with all money market and savings accounts, certain withdrawals are limited to six per month from this account. A $15 fee is assessed for each withdrawal after six per month, and Zions reserves the right to close or change the account after that limit has been reached three times in a 12-month period; in-branch and ATM withdrawals are unlimited and do not count towards this six-transaction limit. The Zions Bank Money Market account has no monthly maintenance fee and a relatively modest minimum opening deposit requirement for a money market account.

SEE DETAILS Secured

on Zions Bank’s secure website

Member FDIC

Online Money Market

The Zions Bank Online Money Market account’s APY tops the rates paid on any of the bank’s other checking, savings or money market accounts.
APYMinimum Balance to Earn APY
0.40%$1,000
0.40%$5,000
0.40%$25,000
0.40%$100,000
0.40%$250,000
  • Minimum opening deposit: $500
  • Monthly account maintenance fee: $0
  • ATM fee: $0 at Zions Bank ATMs; $2 at domestic, non-Zions ATMs; 3 percent of US dollar amount of transaction at international ATMs
  • ATM refund: none
  • Overdraft fee: $32, up to five times per day; can be reduced to $5 with transfer from backup account; after five consecutive days of account being overdrawn an additional $5 fee is assessed, up to a maximum of 30 calendar days

Zions Bank’s Online Money Market account, as the name suggests, is an online-only account. As the account can only be accessed via a mobile phone, tablet or computer, it pays higher rates than the bank’s traditional money market account. All of the other parameters of the account are the same, from the minimum opening deposit to the monthly, ATM and overdraft fees. Check writing is also available with the Online Money Market account.

How to get Zions Bank’s money market accounts

As mentioned above, you can open a Zions Bank money market account online, via an application that takes between five and 10 minutes. Customers can also visit a Zions Bank branch or call the bank at (866) 761-8349.

SEE DETAILS Secured

on Zions Bank’s secure website

Member FDIC

magnifying glass

How Zions Bank’s money market accounts compare

Both of the Zions Bank money market accounts pay rates above the national average. Minimum deposit requirements are low, and there is no fee on either account. The standout account is the online money market, paying an APY about triple that of the regular money market account. However, even this account pays a rate well below the best available money market rates nationwide.

Zions Bank’s IRA account options

IRA CDs

Zions Bank IRA CDs have the same terms and APY as the bank’s non-IRA CDs, although IRS penalties and taxes may apply to IRA withdrawals.
TermAPYMinimum Balance to Earn APY
1 month 0.05%$1,000
3 months 0.20%$1,000
6 months0.50%$1,000
9 months0.65%$1,000
12 months1.31%$1,000
18 months1.41%$1,000
24 months1.51%$1,000
36 months1.61%$1,000
48 months1.77%$1,000
60 months1.92%$1,000
  • Minimum opening deposit: $1,000
  • Minimum balance to earn APY: $1,000
  • Early withdrawal penalty: all interest for terms of 31 days or less; 90 days’ interest for terms from 32 days to one year; 180 days’ interest for terms of over one year

Zions Bank IRA CDs have the same structure as the bank’s standard CDs. This means that the IRA CDs pay fixed rates that are compounded daily. IRA CDs also renew automatically at maturity for the same term, unless the bank notifies customers in advance. The grace period is three calendar months for IRA certificates maturing in 31 days or less, and 10 calendar days for all remaining IRA CD maturities. Other withdrawals will trigger the early withdrawal penalty.

SEE DETAILS Secured

on Zions Bank’s secure website

Member FDIC

Jumbo IRA CDs

Zions Bank Jumbo IRA CDs are carbon copies of the bank’s non-IRA jumbo CDs in terms of maturity and APY, with the additional tax and penalty restrictions that apply to all IRA accounts.
TermAPYMinimum Balance to Earn APY
1 month 0.05%$100,000
3 months 0.20%$100,000
6 months0.60%$100,000
9 months0.75%$100,000
12 months1.41%$100,000
18 months1.51%$100,000
24 months1.61%$100,000
36 months1.71%$100,000
48 months1.87%$100,000
60 months2.02%$100,000
  • Minimum opening deposit: $100,000
  • Minimum balance to earn APY: $100,000
  • Early withdrawal penalty: all interest for terms of 31 days or less; 90 days’ interest for terms from 32 days to one year; 180 days’ interest for terms of over one year

Jumbo IRA CDs at Zions Bank have the same rules in place as its non-IRA jumbo CDs. Jumbo IRA CDs renew automatically at the same maturity unless notified in advance by the bank. Withdrawals outside of the grace period — three calendar days for short-term CDs and 10 calendar days for those maturing in longer than 31 days — will trigger the early withdrawal penalty. Interest is compounded daily.

SEE DETAILS Secured

on Zions Bank’s secure website

Member FDIC

IRA CD Special

Zions Bank currently offers the same CD special in both its IRA and non-IRA accounts; special rates are subject to change at any time.
TermAPYMinimum Balance to Earn APY
12 months2.30%$1,000
  • Minimum opening deposit: $1,000
  • Minimum balance to earn APY: $1,000
  • Early withdrawal penalty: 90 days’ interest

As with the bank’s non-IRA CD special, a qualifying checking relationship is required to earn the special CD rate in a Zions Bank IRA. Money must originate from outside Zions Bank, so deposits cannot be made from an existing Zions Bank account. Minimum balance requirements and early withdrawal penalties are the same as with Zions Bank’s standard CDs.

SEE DETAILS Secured

on Zions Bank’s secure website

Member FDIC

IRA Money Market account

The Zions Bank Money Market account is a place you can stash your IRA funds and earn interest if you don’t want to tie them up in a CD.
APYMinimum Balance to Earn APY
0.02%$0.01
0.02%$2,000
0.02%$10,000
0.05%$25,000
0.06%$50,000
0.08%$100,000
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $0
  • ATM fee: n/a
  • ATM refund: n/a
  • Overdraft fee: n/a

The Zions Bank IRA Money Market account pays interest in six tiers, with only a small minimum opening deposit requirement and no monthly maintenance fee. There is no ATM access with this account, and overdrafts are not permitted. A $15 fee is charged for certain transactions in excess of six per month, in line with government regulations applying to all savings and money market accounts. Zions Bank may also close the account if excess transactions occur more than three times in a 12-month period. As the account is in an IRA framework, IRS taxes and penalties may apply to certain withdrawals.

How to get Zions Bank’s IRA accounts

Zions Bank IRA products must be opened at a branch.

SEE DETAILS Secured

on Zions Bank’s secure website

Member FDIC

magnifying glass

How Zions Bank’s IRA accounts compare

Zions Bank IRA CDs pay rates that are just about the national average across the board. As with the bank’s non-IRA CDs, the highest available rate at Zions Bank is in the 12-month special IRA CD, which is competitive with the best available national IRA CD rates. For those that don’t want to commit money to a CD, the IRA Money Market is a viable option, paying decent rates and having no monthly maintenance fee.

Overall review of Zions Bank’s products

Rates on checking and savings accounts are low. However, the Premier Checking account does offer some attractive features for those that can afford the minimum deposit hurdle. Rates improve when it comes to the bank’s CD and money market products, which are generally at least at or above the national average rates. The standout product from a yield basis is the bank’s 12-month CD special, although it requires a checking relationship and is subject to change at any time.

Overall, it’s easy to find an account you might need at Zions, from checking and savings to IRA products, CDs and money market accounts. Additionally, most accounts can be had with no monthly maintenance fee, although you may have to meet minimum deposit requirements. Zions Bank doesn’t fit the bill if you need the highest APYs across the board, but it does offer serviceable products in a wide variety of categories.