Banks
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Canadian Western Bank

Advertiser Disclosure

About bank

Canadian Western Bank (CWB), also known as CWB Financial Group, stands as a prominent Canadian financial institution headquartered in Edmonton, Alberta. With a comprehensive range of banking, lending, wealth management, and trust services, CWB caters to a diverse clientele across Western Canada and beyond. Established through the merger of the Bank of Alberta and the Western & Pacific Bank of Canada in 1988, CWB has since expanded its reach and offerings, positioning itself as a trusted financial partner for individuals and businesses alike.

Over the years, CWB has cultivated a reputation for its commitment to client success and satisfaction. Through personalized service, expert financial advice, and a proactive approach, CWB aims not just to meet but to exceed the financial needs and expectations of its clients. Whether it's providing innovative solutions for businesses or offering tailored banking options for individuals, CWB's dedication to understanding its clients' unique circumstances underscores its position as a leader in the Canadian banking landscape.

Canadian Western Bank

Key features

  1. Comprehensive Financial Services. CWB offers a wide range of banking, lending, wealth management, and trust services to meet the diverse needs of its clients.

  2. Regional Presence. With its headquarters in Edmonton, Alberta, CWB has a strong presence across Western Canada, serving clients in provinces such as British Columbia, Alberta, and Saskatchewan.

  3. National Expansion. In line with its growth strategy, CWB has expanded its operations beyond Western Canada, establishing branches and services in other provinces such as Ontario.

  4. Business Banking Expertise. CWB provides specialized business banking services for small- and medium-sized companies, including commercial financing, equipment leasing, and real estate financing.

  5. Full-Service Personal Banking. For individuals, CWB offers a range of personal banking options, including chequing and savings accounts, loans, mortgages, and investment products.

Pros and cons

Pros

Personalized Service. CWB is known for its personalized approach to banking, offering tailored financial solutions to meet the unique needs of its clients.

Regional Focus. With a strong presence in Western Canada, CWB understands the local market dynamics and is well-positioned to serve the needs of businesses and individuals in the region.

Diverse Product Offerings. CWB provides a wide range of financial products and services, including banking, lending, wealth management, and trust services, catering to various client needs.

Cons

Limited National Presence. While CWB has expanded its operations beyond Western Canada, its presence in other provinces may not be as extensive as some of the larger national banks.

Limited Branch Network. Compared to larger banks, CWB's branch network may be relatively smaller, which could potentially limit accessibility for some customers, especially in remote areas.

Competition. In a highly competitive banking industry, CWB faces competition from other financial institutions, both regional and national, which may impact its market share and growth potential.

Canadian Western Bank requirements

  1. Contact Information. You'll need to provide your email address and mobile phone number. A verification process may be conducted to ensure security.

  2. Identification Verification. You may be required to provide a valid government-issued identification document, such as a driver’s license or passport.

  3. Account Selection. Choose the type of account(s) you wish to open, whether it's for personal banking, business banking, or wealth management. Each account type may have different features and fees.

  4. Eligibility Confirmation. Ensure you meet the eligibility requirements set forth by Canadian Western Bank for the selected account type(s).

  5. Personal Information. Fill in your personal details accurately, including your name, address, date of birth, occupation, and optionally your Social Insurance Number (SIN).

  6. Co-Applicant Information. If opening a joint account, provide necessary information about the co-applicant, such as their name, email address, and phone number.

  7. Security Token. Upon providing your mobile phone number, you may receive a security token via SMS/text for authentication purposes.

Access on the go

  1. Mobile Banking App. Download the CWB mobile banking app from your device's app store to access your accounts, make transfers, pay bills, and manage your finances from anywhere.

  2. Online Banking. Log in to your CWB online banking account through the bank's website using your desktop or mobile browser. Enjoy convenient access to account information, transactions, and banking services.

  3. ATMs. Utilize Canadian Western Bank's network of ATMs across Canada to withdraw cash, check balances, and perform other basic banking transactions.

Canadian Western Bank products

  1. Chequing Accounts. Canadian Western Bank offers various chequing account options tailored to different needs, including personal and business accounts. These accounts typically provide features such as unlimited transactions, overdraft protection, and online banking access.

  2. Savings Accounts. CWB provides savings account options to help clients grow their savings with competitive interest rates, flexible deposit options, and convenient access to funds.

  3. Credit Cards. CWB offers a range of credit card products with different features and benefits, including rewards programs, low interest rates, and travel perks, catering to both personal and business needs.

  4. Loans and Lines of Credit. CWB provides financing solutions such as personal loans, mortgages, home equity lines of credit (HELOCs), and business loans to help clients achieve their financial goals, whether it's purchasing a home, funding a business venture, or consolidating debt.

  5. Investment Products. Canadian Western Bank offers investment products and services through its wealth management division, including mutual funds, registered retirement savings plans (RRSPs), tax-free savings accounts (TFSAs), and more, designed to help clients grow their wealth over time.

  6. Insurance Products. CWB may offer insurance products such as life insurance, mortgage insurance, and creditor insurance to help protect clients and their assets against unexpected events.

Canadian Western Bank services

  1. Online Banking. CWB provides secure and convenient online banking services that allow clients to manage their accounts, pay bills, transfer funds, and conduct other banking transactions from anywhere with internet access.

  2. Mobile Banking. The CWB mobile banking app enables clients to access banking services on their smartphones or tablets, offering features such as mobile deposit, account alerts, and ATM locators for added convenience.

  3. Wealth Management. Through CWB's wealth management division, clients can access personalized financial planning, investment management, estate planning, and other wealth management services to help them achieve their long-term financial objectives.

  4. Business Banking. CWB offers a range of banking solutions tailored to the needs of businesses, including cash management services, business loans, merchant services, and specialized industry expertise to support business growth and success.

  5. Financial Advisory Services. CWB may provide financial advisory services to help clients make informed decisions about their finances, including retirement planning, tax optimization, and risk management strategies.

  6. Customer Support. Canadian Western Bank offers responsive customer support services through various channels, including phone, email, and in-person assistance at branch locations, to address client inquiries, concerns, and requests in a timely manner.

Which associations does Canadian Western Bank belong to?

  1. Canada Deposit Insurance Corporation (CDIC). As a federally regulated financial institution in Canada, Canadian Western Bank is a member of CDIC, which provides deposit insurance to eligible deposits held at member institutions in case of their failure.

  2. The Interac Association. Canadian Western Bank participates in Interac, a payment network that facilitates electronic transactions such as debit card payments and Interac e-Transfers in Canada.

  3. The Financial Consumer Agency of Canada (FCAC). CWB adheres to regulations set forth by FCAC, which oversees federally regulated financial institutions in Canada to ensure they comply with consumer protection laws and provide transparent and fair treatment to consumers.

Canadian Western Bank reliability

Canadian Western Bank maintains a reputation for reliability within the Canadian banking sector. As a federally regulated financial institution, it adheres to stringent regulatory standards set forth by governing bodies such as the Office of the Superintendent of Financial Institutions (OSFI). Additionally, its accreditation by the Better Business Bureau (BBB) signifies a commitment to ethical business practices and customer satisfaction. While no organization is immune to occasional challenges, Canadian Western Bank's track record of stability and its BBB accreditation contribute to its overall reputation for reliability among clients and stakeholders.

Editorial opinion

Canadian Western Bank stands as a notable player in Canada's financial landscape, offering a range of banking and wealth management services tailored to individuals and businesses. Its roots trace back to the merger of two Alberta-based banks in the late 1980s, evolving into a diversified financial institution with a national presence. While its focus on Western Canada remains evident, expansions into other provinces underscore its growth ambitions. The bank's commitment to customer success and its array of products and services reflect its dedication to meeting the diverse needs of its clientele. However, like any institution, it faces challenges inherent to the banking sector, requiring ongoing adaptation to regulatory changes, market dynamics, and customer preferences.

Additional resources

Sources

FAQ

Is Canadian Western Bank a good bank?

Canadian Western Bank (CWB) is a reputable financial institution with a strong presence in Western Canada, offering a range of banking and wealth management services. Many clients appreciate its personalized approach, competitive products, and commitment to customer success. However, as with any bank, there may be factors such as fees, accessibility, and service quality that vary depending on individual needs and circumstances. Prospective clients are encouraged to research and assess CWB's offerings to determine if it aligns with their banking requirements and preferences.

Does CWB have online banking?

Yes, Canadian Western Bank offers online banking services to its clients. Through its secure online platform and mobile app, customers can conveniently manage their accounts, conduct transactions, pay bills, transfer funds, and access other banking services from anywhere with internet access. The online banking platform enhances convenience and flexibility for clients, allowing them to bank on their own terms and schedule.

Is CWB a regional bank?

While Canadian Western Bank originated in Western Canada and maintains a significant presence in the region, it has expanded its operations to serve clients across Canada. While its roots may be regional, CWB's reach and offerings extend beyond Western Canada, positioning it as a national financial institution. However, its strong ties to the Western provinces may still be reflected in its focus and market presence.

Is Canadian Western Bank and Canadian Western Trust the same?

Canadian Western Bank (CWB) and Canadian Western Trust (CWT) are affiliated entities within the broader CWB Financial Group. While they operate under the same corporate umbrella, they serve distinct purposes in the financial services landscape. Canadian Western Bank primarily focuses on traditional banking services, such as deposit-taking, lending, and wealth management, catering to both personal and business clients. On the other hand, Canadian Western Trust specializes in trust and estate services, including trustee, executor, and custodial services, catering to individuals, families, and institutions seeking fiduciary solutions. While they share the CWB brand and adhere to common values and standards, each entity has its own set of offerings and functions to meet the diverse needs of clients.

Company documents

CWB Financial Group Privacy Statement

We are relentless in proactively finding ways to help you succeed. By listening intently and asking the right questions, we uncover your dreams and goals and find financial solutions to make them come true. Most importantly, we’re there for you because we genuinely care. You might even say that we’re obsessed with your success.

© CWB Financial Group
Financial products
Canadian Western Bank
CWB No Fee Cash Back Visa Business card®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Canadian Western Bank
CWB Visa Infinite Business card®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Canadian Western Bank
CWB Low Rate Visa Business card®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
to 50000.00 C$
Term
i

Loan term for the financial product

to 10 years
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
to 50000.00 C$
Term
i

Loan term for the financial product

to 10 years
Canadian Western Bank
Vehicle loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Canadian Western Bank
Line of credit
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$3,000 and up
Canadian Western Bank
WestEarner® fully redeemable RRIF GIC
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$5,000 minimum deposit
Rate
i

Effective interest rate on the product

0.900%
Term
i

Loan term for the financial product

12-60 months
Canadian Western Bank
WestEarner® Premium RRIF GIC
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$5,000 minimum deposit
Rate
i

Effective interest rate on the product

up to 4.400%
Term
i

Loan term for the financial product

12-120 months
Canadian Western Bank
WestEarner RRIF account®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$50 minimum deposit
Rate
i

Effective interest rate on the product

0.900%
Canadian Western Bank
WestEarner® Convertible RRSP GIC
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$500 minimum deposit
Rate
i

Effective interest rate on the product

4.450%
Term
i

Loan term for the financial product

12 months
Canadian Western Bank
WestEarner® Premium RRSP GIC
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$500 minimum deposit
Rate
i

Effective interest rate on the product

up to 4.400%
Term
i

Loan term for the financial product

30 days - 120 months
Canadian Western Bank
WestEarner® RRSP account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$50 minimum deposit
Rate
i

Effective interest rate on the product

0.900%
Canadian Western Bank
WestEarner® TFSA Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$50 minimum deposit
Rate
i

Effective interest rate on the product

1.000%
Canadian Western Bank
WestEarner® TFSA GIC
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$1,000 minimum deposit
Rate
i

Effective interest rate on the product

up to 4.400%
Term
i

Loan term for the financial product

12-120 months
Canadian Western Bank
US dollar investments
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$1,000 minimum deposit
Rate
i

Effective interest rate on the product

up to 3.500%
Term
i

Loan term for the financial product

30 days - 10 years
Canadian Western Bank
Registered education savings plan (RESP)
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Canadian Western Bank
Short term GICs
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$500 minimum investment
Rate
i

Effective interest rate on the product

up to 3.100%
Term
i

Loan term for the financial product

30-180 days
Canadian Western Bank
Long term GICs
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$1,000 minimum investment
Term
i

Loan term for the financial product

1-10 years
Canadian Western Bank
Student Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Canadian Western Bank
Youth Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Rate
i

Effective interest rate on the product

up to 0.500%
Canadian Western Bank
Gold Leaf PLUS® Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Canadian Western Bank
Standard Chequing Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

up to $4.00 monthly fee
Canadian Western Bank
Apex® Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

up to $14.25 monthly fee
Canadian Western Bank
US Dollar Chequing Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Canadian Western Bank
USD Flex Notice Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Canadian Western Bank
Flex Notice Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Canadian Western Bank
CWB Prestige™
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Canadian Western Bank
US dollar savings account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Rate
i

Effective interest rate on the product

0.800%
Canadian Western Bank
Summit Savings Account®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Rate
i

Effective interest rate on the product

1.400%
aggregation.company.all-products
Similar products
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

19.75% - 21.49%
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

19.99% - 22.99%
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
from $5,000
Rate
i

Effective interest rate on the product

19.99% - 22.99%
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

20.99% - 22.99%
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

21.99% - 22.99%
Best Quick Loan Today 12.06.2024*
Mr. Payday
Need a Quick Loan Now?
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to $10.000
Coast Capital Savings
Personal Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$50,000
Rate
i

Effective interest rate on the product

7.5%
Term
i

Loan term for the financial product

60 months
Mogo
Personal Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$15,000
Rate
i

Effective interest rate on the product

up to 46.96%
Term
i

Loan term for the financial product

up to 60 months
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
1000.00 – 15000.00 C$
Term
i

Loan term for the financial product

6 months – 60 months
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
7000.00 – 25000.00 C$
Rate
i

Effective interest rate on the product

24.99 – 29.99 %
Term
i

Loan term for the financial product

3 years – 5 years
Toronto-Dominion Bank
TD Every Day Savings Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Tangerine Bank
Savings Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Rate
i

Effective interest rate on the product

1.00%
Scotiabank
Ultimate Package
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

up to $30.95 monthly fee
Royal Bank of Canada
Savings Deposit
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
no minimum deposit
Rate
i

Effective interest rate on the product

0.5%
Your comment has been added
Error
Your complaint has been recorded
Invalid username or password
comment.alert.error-reg
Please log in to like/dislike
Invalid SMS code has been entered
All Canadian Western Bank’s reviews by june 2024
Leave feedback
Similar companies
EQ Bank
30 St. Clair Avenue West, Suite 700 Toronto, ON, M4V 3A1
1 (844) 437-22-65
Fairstone Bank
33 Yonge Street, Suite 810 Toronto, Ontario Canada M5E 1G4
+1 (833) 461-29-00
Digital Commerce Bank
736 Meridian Road NE Calgary, Alberta T2A 2N7
+1 (844) 836-60-40
American Express Canada
P.O. Box 3204, Station F, Toronto, ON M1W 3W7
+1 (800) 869-30-16
Simplii Financial
161 Bay St., Toronto, ON M5J 2S8
+1 (888) 723-88-81