Bank of Hawaii vs. First Hawaiian Bank

bankThe state of Hawaii has two major banks – Bank of Hawaii and First Hawaiian Bank. Together they have a market share of greater than 68%.



Bank of Hawaii (BOH)

Forbes magazine has ranked Bank of Hawaii as one of the best performing banks in the US – for six years in a row. This bank was also awarded second place out of the top 100 biggest American banks. BOH provides a large variety of financial services to business, the public and the government. It was also the first Hawaiian bank to provide other means of transaction besides your traditional checking account. I referring, of course, to “Ease by Bank of Hawaii” which is a FDIC insured account. This is a one of a kind account available only from the Bank of Hawaii. It also has the lowest bank fees of any account in the whole of the USA, compared to identical account available from mainland banks. For example, there are no checks to bounce so you will never be charged with overdraft fees.

This account also allows customers to sign up for a free Visa debit card and comes with these great benefits:

  • There are zero monthly service fees for online statements.
  • You get 100% free access to over 450 BOH ATMs.
  • There is no direct deposit requirement which helps you avoid fees.
  • You only need to deposit $25 to open your account.
  • You also get free 24/7 access to phone, mobile and online banking


First Hawaiian Bank (FHB)

This was the first bank ever founded in Hawaii, making it the islands oldest and biggest bank. They can help you with any one of your financial needs whether it is personal or small business banking.

This bank has also been repeatedly ranked amongst the top banks in the USA, and has for many years enjoyed a reputation for above average service.

It is a subsidiary of BancWest Corporation. And BancWest is a subsidiary of BNP Paribas which is a banking and financial services company, based in Europe, but currently expanding into the North American and Asian markets.

When compared FHB to other Hawaii’s banks, this one ranks #1 for:

  • Money deposited.
  • Assets held.
  • Loans given.
  • Credit card transactions and merchant accounts.
  • Efficiency ratio.
  • Loans for automobile dealer inventory.
  • Consumer auto financing.
  • The issuing of both Visa and MasterCard credit cards.

First Hawaiian Bank also follow a very efficient and basic relationship with their customers. Every customer who holds $5000 in deposits or loans will be assigned a personal banker.

BOH and FHB are now offering Apple Pay to customers.

If you are a customer of one of these banks, you can now connect your bank card to your iPhone. You can then use you card to pay for in-store and in-app purchases. This feature is available at more than 200,000 participating vendors and provides and simple, secure and discreet mobile payment option for purchases.

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