Canadian Western Bank Review October 2025

Written and Edited By

Last updated: Apr 16, 2024

Canadian Western Bank is one of several companies comprising the CWB Financial Group. Although its presence is strongest in the western provinces, anyone in Canada can take advantage of the banking products and services offered by this institution. It's also ranked 23rd of the 50 best workplaces in the country.

Priding itself as the only full-service bank in Canada that focuses on the financial needs of business owners, Canadian Western Bank offers both personal and business banking products and services. The Canadian Western Bank Gold Leaf PLUS Account is a well-rated account designed for seniors and serves as an example of the quality offerings in Canada Western Bank's product inventory.

Overview

Established in 1988 in Edmonton, Alberta.
Most branch locations are in Alberta and British Columbia.
A full-service bank, offering bank accounts, mortgages, credit cards, investment options, and more.
Offers both personal and business banking products.
Provides online, mobile, and in-person banking services.

Banking

3.2

Rating methodology

Canadian Western Bank's overall rating is 3.2 out of a possible 5 stars. This number is an average of all the individual products we've rated so far, which you can find more info on below. Each of these are scored by breaking them down into their main parts, then comparing each feature to similar products on the market.

Learn more about our rating methodology.

Canadian Western Bank pros

Canadian Western Bank has a lot going for it – here are a few of our favourite aspects of this financial institution:

Wide range of personal accounts

Whether you're looking for a savings account or a chequing account, Canadian Western Bank has several choices available, tailored for your needs. You even have options for U.S. dollar accounts too.

Strong presence in western Canada

The majority of Canadian Western Bank's locations are in western Canada – particularly Alberta and British Columbia. And although it's not a credit union, it provides a similar community-focused approach to serving these western areas.

Highly rated mobile app

The Canadian Western Bank mobile app is available for both Apple and Android users. It earned a 4.5-star rating from the App Store and 4.4 stars from the Google Play Store, with users praising its security and efficiency.

Canadian Western Bank cons

Of course, there are still a few areas where Canadian Western Bank could use improvement. These are our top-of-mind items:

Especially with as wide of a range of account types as it has, it's odd and disappointing that Canadian Western Bank doesn't have any welcome bonuses to attract and award new clients. Its banking products are attractive, but promo offers would definitely help.

Lack of presence in eastern Canada

While we're not surprised that an institution called Canadian Western Bank doesn't have any locations east of Toronto, we'd still like to see this change. Yes, eastern Canadians can still use the products offered, but a few physical branches would be a nice touch.

Canadian Western Bank bank accounts

As mentioned, Canadian Western Bank has an impressive array of bank accounts to offer – 6 chequing and 2 savings accounts, to be precise. Plus a savings, chequing, and flex account option for U.S. dollars. Chequing account fees range from $0.00 to $14.25 while savings accounts and U.S. dollar accounts are free.

There are niche accounts for kids, students, and seniors, too. The Canadian Western Bank Youth Account is designed for youth ages 18 and under, the Canadian Western Bank Student Account is for those pursuing post-secondary education, and the Canadian Western Bank Gold Leaf PLUS Account caters to the 57+ demographic. Canadian Western Bank has really covered all the bases here.

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FAQ

How secure is Canadian Western Bank?

Canadian Western Bank is a safe and secure financial institution. It is a CDIC member, requires multi-factor authentication when accessing accounts, and offers several options and tips that encourage clients to adopt safe banking practices.

Is Canadian Western Bank CDIC insured?

Yes, Canadian Western Bank is CDIC-insured, as are most large Canadian financial institutions. This means that all of its banking clients automatically receive free insurance on up to $100,000 of their deposits in each account.

What types of bank accounts does Canadian Western Bank offer?

There are a variety of bank accounts available with Canadian Western Bank, including chequing, savings, and U.S. dollar accounts. There are also specific accounts designed for the needs of Canadian kids, post-secondary students, and seniors.

Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.

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