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Bank of Hawaii

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Konstantin Tochonyi - CEO Finanso®
Konstantin Tochonyi - CEO Finanso®

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About

Bank of Hawaii is a full-service bank that provides a variety of financial products and services to individuals, businesses, and commercial clients in Hawaii, Guam, and Saipan.

The bank offers personal banking services such as checking and savings accounts, CDs, credit cards, loans, and mortgages, as well as investment and wealth management services. For businesses, Bank of Hawaii provides a range of banking solutions, including cash management, commercial lending, credit cards, and merchant services.

Bank of Hawaii is committed to supporting the communities it serves through various philanthropic efforts, including charitable donations, volunteer work, and community outreach programs.

Overall, Bank of Hawaii is a trusted and established financial institution that offers a range of services and products to meet the banking needs of its customers in Hawaii, Guam, and Saipan.

Key Features

Some of the key features of Bank of Hawaii include:

  1. Personal and Business Banking Services. They include checking and savings accounts, loans, credit cards, investment services, cash management, commercial lending, and merchant services.
  2. Online and Mobile Banking. Customers can access their accounts and manage their finances online or via the bank's mobile app.
  3. Financial Tools and Resources. The Bank of Hawaii website provides a variety of helpful financial tools and educational resources, including financial calculators and budgeting resources.
  4. Community Involvement. Bank of Hawaii is committed to giving back to the communities it serves through various philanthropic initiatives and programs.
  5. Branch and ATM Network. The bank has a wide network of branches and ATMs in Hawaii, Guam, and Saipan, making it easy for customers to access their accounts and banking services.

Requirements

To open an account at Bank of Hawaii, you will typically need to provide the following:

  1. A valid government-issued photo ID such as a driver's license, passport, or state ID.
  2. Your Social Security number (SSN) or Tax ID number (TIN).
  3. Proof of your address, such as a utility bill or lease agreement.
  4. A minimum deposit amount, which varies depending on the type of account you are opening.
  5. For joint accounts, all account holders must provide their identification and other required documentation.

For business accounts, the requirements may vary depending on the type of business entity. You will typically need to provide:

  1. Business registration papers or articles of incorporation.
  2. Employer Identification Number (EIN).
  3. Business license or permit.
  4. Proof of business address.
  5. Financial statements for the business.

It is always best to contact Bank of Hawaii directly to confirm the specific requirements for opening an account.

Access on the Go

Bank of Hawaii offers access to its banking services on the go through its mobile banking app. The app is available for both iOS and Android devices and can be downloaded for free from the App Store or Google Play.

With the mobile app, customers can manage their accounts, check balances, transfer funds, pay bills, and even deposit checks using their mobile device's camera. The app also allows users to set up alerts for account activity, view transaction history, and locate the nearest Bank of Hawaii ATM or branch.

In addition to the mobile app, Bank of Hawaii also offers online banking services. Customers can log in to their accounts securely from the bank's website using their computer or mobile device.

Overall, Bank of Hawaii's mobile and online banking services provide convenient access to banking services on the go, allowing customers to manage their accounts anytime, anywhere.

Products and Services

Bank of Hawaii offers a range of products and services for personal banking, business banking, and commercial clients. Here are some of the main offerings:

  1. Personal Banking. The bank provides personal banking services, including checking and savings accounts, credit cards, loans, mortgages, and investment services.
  2. Business Banking. The bank offers various business banking solutions such as cash management, commercial lending, merchant services, and online banking for businesses of all sizes.
  3. Wealth Management. Bank of Hawaii provides investment management services and financial planning for high net worth individuals and families.
  4. Commercial Banking. The financial institution offers a range of commercial banking services to help businesses manage their finances, including treasury management, equipment leasing, and trade financing.
  5. Trust and Estate Planning. Bank of Hawaii provides comprehensive trust and estate planning services, including asset management, investment advisory services, and fiduciary services.
  6. Insurance. The bank offers insurance solutions for individuals and businesses, including life insurance, disability insurance, and casualty insurance.

Overall, Bank of Hawaii provides a comprehensive range of banking and financial solutions to meet the needs of its customers, whether they are individuals, small businesses, or large commercial clients.

Which associations does Bank of Hawaii belong to?

Bank of Hawaii is a member of several banking associations, including:

  • Federal Reserve System. Bank of Hawaii is a member bank of the Federal Reserve System, which is the central banking system of the United States.
  • Federal Deposit Insurance Corporation (FDIC). The bank is also a member of the FDIC, which provides insurance coverage for deposit accounts at member banks.
  • Hawaii Bankers Association. The financial institution is a member of the Hawaii Bankers Association, which is a trade association that represents banks and financial institutions in Hawaii.
  • American Bankers Association (ABA). The bank is a member of the ABA, which is the largest banking trade association in the United States.
  • National Automated Clearing House Association (NACHA). Bank of Hawaii is a member of NACHA, which is a not-for-profit organization that oversees the Automated Clearing House (ACH) network, a system used for electronic funds transfers.

    Overall, Bank of Hawaii's membership in these associations reflects its commitment to maintaining the highest standards of banking and financial services and its dedication to the banking industry as a whole.

    Bank of Hawaii

    FAQ

    Who owns Bank of Hawaii?

    Bank of Hawaii is a publicly traded company, so it is owned by its shareholders. The largest shareholders of the bank are institutional investors, including mutual funds, pension funds, and hedge funds. As of December 31, 2021, the largest shareholder of Bank of Hawaii was The Vanguard Group, Inc., which owned approximately 9.06% of the bank's outstanding shares. Other top institutional shareholders of the bank included BlackRock, Inc., State Street Corporation, and Fidelity Management & Research Company LLC.

    It is important to note that publicly traded companies are owned by their shareholders, but the day-to-day operations of the bank are overseen by its board of directors and executive management team.

    Is Bank of Hawaii a good bank?

    Bank of Hawaii is generally regarded as a good bank. Here are some factors that contribute to its positive reputation:

    1. Financial Stability. This is a well-established bank with a strong financial position. The bank has consistently earned high ratings from independent rating agencies, indicating its financial strength and stability.
    2. Customer Service. Bank of Hawaii has a reputation for providing excellent customer service. The bank has won several awards for its customer service, including the J.D. Power Award for customer satisfaction in retail banking for 2021.
    3. Products and Services. A wide range of products and services for personal, business, and commercial clients includes checking and savings accounts, loans, mortgages, investment services, and insurance solutions.
    4. ommunity Involvement. The bank is actively involved in the communities it serves. It supports various charitable organizations and community initiatives through its charitable foundation and employee volunteer programs.

    Overall, Bank of Hawaii's strong financial position, excellent customer service, and commitment to the communities it serves make it a good choice for individuals, businesses, and commercial clients looking for a reliable and trustworthy banking partner. However, it is always recommended to compare the features and fees of different banks to ensure you find the one that best meets your specific needs.

    Is Bank of Hawaii hard to get approved for?

    The approval process for Bank of Hawaii's products and services can vary depending on several factors, including the type of account or loan you are applying for, your credit history, income, and other factors. However, in general, the bank does not have particularly stringent requirements for account or loan approval, and the bank has a reputation for being accessible to a wide range of customers.

    For example, Bank of Hawaii offers several checking and savings account options with low minimum opening deposit requirements and no monthly maintenance fees. The bank also provides personal and business loans with competitive interest rates and flexible repayment terms, making them accessible to a wide range of customers.

    However, it is important to note that Bank of Hawaii, like any financial institution, will evaluate each application on a case-by-case basis and may have specific criteria that must be met for approval. Factors such as credit history, income, and debt-to-income ratio may also be considered when evaluating applications for loans and credit products.

    Overall, if you meet the bank's criteria for the specific product or service you are applying for, Bank of Hawaii should not be overly difficult to get approved for.

    Bank of Hawaii disputes number

    To dispute a transaction on your Bank of Hawaii account, you can call the bank's customer service number at 1-888-643-3888. If you need to dispute a transaction that appears on your credit card statement, you can call the number on the back of your credit card to speak with a representative.

    Alternatively, you can also visit a Bank of Hawaii branch in person to initiate a dispute. The bank's website has a branch locator tool that you can use to find the nearest location to you.

    When you speak with a representative, they will likely ask you for details about the transaction in question, such as the date and amount of the transaction, the name of the merchant or payee, and any other relevant information. They may also ask you to provide documentation to support your dispute, such as receipts, invoices, or other proof of payment.

    It is important to act quickly when disputing a transaction, as there may be time limits for submitting a dispute. Be sure to review your account statements regularly to catch any unauthorized transactions as soon as possible.

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    Update 13.03.2023

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