Best Banks: Top Choices for Savings, Checking, Customer Service and More

August 2024 · 40 minute read
2024-07-29T19:42:18Z JUMP TO Section Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
  • Overview of the Best Banks
  • Compare the Best Banks in America
  • Choosing the Right Bank
  • Online Banks vs. Traditional Banks
  • How to Switch Banks
  • FAQs
  • Why You Should Trust Us

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    Whether you're looking for a checking account, savings account, a CD, or more, choosing a bank is a major decision. Maybe you're on the search for a bank with a great mobile app. Maybe an extensive ATM network is important to you, or maybe you prioritize the best rate above all else.

    There's no rule that you have to use the same bank for all of your banking needs. You can choose to be part of one bank or get different bank accounts and services from a variety of financial institutions. Just remember to review a variety of options whenever you're interested in opening a bank account so know what's out there. 

    Featured Banking Offer Discover® Cashback Debit Account Start banking Discover Bank, Member FDIC Discover® Discover® Cashback Debit Account Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.25/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks Info icon Cash back earned on up to $3,000 a month in purchases. Outgoing wire transfers are subject to a service charge. You may be charged a fee by a non-Discover ATM if it is not part of the 60,000+ ATMs in the no-fee network.

    Earn cash back rewards with no fees. Start earning 1% cash back today (see website for details).

    Fees

    no monthly service fee

    Annual Percentage Yield (APY)

    None

    Minimum Opening Deposit

    $0

    ProsConsProduct DetailsShow Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

    Overview of the Best Banks

    These are our top picks for the best banks, and why you might like to consider them a top option for your banking: 

    Capital One: Best online checking account

    Chase: Best for a large branch network

    Axos: Best for a variety of online account options

    Discover®: Best for doing all of your banking in one place

    Synchrony Bank: Best high-yield savings account from a national brand

    TD Bank: Best for customer service

    Regions Bank: Best for avoiding monthly fees through relationship banking

    U.S. Bank: Best in-person bank for CDs

    Compare the Best Banks in America

    The best banks in America are well-rounded financial institutions with various banking products and services and strong customer service. We have a mix of online and brick-and-mortar banks because, depending on what you're looking for, one type of bank may appeal to you more than another.

    For each of our top picks, we highlighted specific stand-out features or services. Read more about the best banks, below.

    Capital One Bank

    Best online checking account Capital One 360 Checking Capital One Capital One 360 Checking Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.5/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks

    No minimums, no fees, no worries.

    Fees

    no monthly service fee

    Annual Percentage Yield (APY)

    See website for details

    Minimum Opening Deposit

    $0

    ProsConsInsider’s Take

    Capital One is a strong bank overall. You'll earn competitive interest rates on online savings accounts and CDs.

    Capital One 360 Checking review External link Arrow An arrow icon, indicating this redirects the user." Product DetailsShow Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

    Capital One 360 Checking ranks as one of our best checking accounts. It doesn't charge any overdraft, foreign transaction, or monthly service fees, and Capital One doesn't require any minimum opening deposits. The bank ranks No. 1 on J.D. Power's U.S. National Banking Satisfaction Study.

    You can use your debit card at over 70,000 ATMs nationwide for free, but unlike many online banks, Capital One doesn't reimburse any fees charged by out-of-network ATM providers.

    Branch and ATM locations: Although Capital One 360 is considered an online bank, the institution does have some physical branches. There are over 280 branches in seven U.S. states, plus around 50 Capital One Cafés, where you can grab Verve Coffee, speak with a money coach, and open a bank account. As a Capital One checking customer, you can get money from 70,000+ fee-free Capital One, MoneyPass and Allpoint ATMs—including in select Target, Walgreens and CVS stores.

    Capital One Bank Review

    Chase Bank

    Best for a large branch network Chase Total Checking® Start banking On Chase's website Chase Chase Total Checking® Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.5/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks

    Earn $300 bonus when you open an account and make direct deposits totaling $500 or more within 90 days of coupon enrollment (offer expires on 10/16/2024)

    Fees

    $12 monthly service fee

    Annual Percentage Yield (APY)

    None

    Minimum Opening Deposit

    $0

    Bonus Info icon Earn $300 bonus when you open an account using a coupon code and make direct deposits totaling $500 or more within 90 days of coupon enrollment (offer expires on 10/16/2024)

    $300

    ProsConsInsider’s Take

    There are several Chase checking accounts, and Chase Total Checking® is the bank's most popular choice. It offers several ways to waive the monthly fee, and you may qualify for a $300 bank account bonus. But if you want perks like early direct deposit or waived out-of-network ATM fees, one of Chase's other options could be a better fit.

    Chase Total Checking review External link Arrow An arrow icon, indicating this redirects the user." Product DetailsShow Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

    Chase has branches in more states than Bank of America or Wells Fargo. The bank also has numerous types of bank account, and you could get perks such as relationship rates if you open multiple bank accounts. Chase is notably featured in our guides for the best kids savings accounts and best national banks.

    You'll pay a monthly service fee if you don't meet certain account requirements. You'll also have to pay a fee if you use an out-of-network ATM.

    Branch and ATM locations: Chase has over 4,700 branches throughout the continental U.S., and around 16,000 ATMs.

    Chase Bank Review

    Axos Bank

    Best for online account options Axos Bank Start banking Axos Bank, Member FDIC Axos Bank Axos Bank Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.25/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks Info icon Earn up to 1.00% cash back on signature-based transaction purchases. Earn up to $2,000.00 per month in cash back on your signature-based transactions. Maintain a $1,500.00 average daily collected balance to earn 1.00% cash back on signature-based transaction purchases. If your average daily collected balance falls below $1,500 you will earn .50% in cash back for the month. Cash back is calculated on net purchases (purchases minus returns or credits). Cash back will be calculated and paid on your monthly statement cycle date. Cash back is paid in the form of a deposit to your Axos Bank CashBack Checking account. Your total cash back earnings may be reported as miscellaneous income to the IRS on a 1099-MISC form. Merchants who accept Visa/MasterCard cards are assigned a merchant code which is determined by the merchant or its processor in accordance with Visa/MasterCard procedures based on the kinds of products and services they primarily sell. Axos Bank cannot control how merchants choose to classify a transaction; Axos Bank cannot guarantee a transaction will qualify. Purchases made at Super Markets, Super Stores, Grocery Stores, Wholesale Stores, Discount Stores, USPS, and financial or money transfer institutions are not eligible. Purchases made using virtual wallets, funds transfer services, or other similar technology are not eligible. If you close your account mid-cycle, your accrued cash back earning will be forfeited. If your account is at zero at the end of your statement cycle, your accrued cash back earnings will be forfeited for that cycle and your account will be closed. The Bank has the right to change or cancel this program at any time.

    With Cashback Checking, you can earn up to 1.00% cash back on all transactions that require a signature. Take your money further, faster. No monthly maintenance fees, and it only requires a $50 minimum opening account balance.

    Annual Percentage Yield (APY)

    Varies depending on account

    Minimum Opening Deposit

    Varies depending on account

    ProsConsInsider’s Take

    Axos has strong high-yield savings, checking, and money market accounts. if you'd like to avoid monthly service fees.

    Axos Bank review External link Arrow An arrow icon, indicating this redirects the user." Product DetailsShow Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

    Axos offers five different checking accounts, all geared toward specific needs:

    You'll need at least $250 to open a high-yield savings account. Some of the options on our list do not require an initial deposit.

    There are also several requirements to earn up to 3.30% APY with an Axos Bank Rewards Checking account. You'll have to meet the following criteria:

    Branch and ATM locations: As an online-only bank, Axos doesn't have physical branches. You have free access to around 91,000 ATMs. Axos doesn't have a specific ATM network, but you can likely use one near you for free. Axos also offers generous out-of-network ATM fee reimbursements, in case you can't find a free ATM close by.

    Axos Bank Review

    Discover Bank

    Best for doing all of your banking at one place Discover® Bank Start banking Discover Bank, Member FDIC Discover® Bank Discover® Bank Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.25/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks

    Earn cash back with your debit card

    Annual Percentage Yield (APY)

    Varies depending on account

    Minimum Opening Deposit

    Varies depending on account

    ProsConsInsider’s Take

    Discover is a strong online bank. However, if you'd prefer to open an CD or money market account with a low minimum opening deposit, you might consider other options.

    Discover® Bank review External link Arrow An arrow icon, indicating this redirects the user." Product DetailsShow Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

    Discover is a good option for people who want to do all their banking, investing, and borrowing with one institution. It offers a wide range of products, including credit cards. The bank is a good option if you want to earn cash back with your debit card — you'll earn 1% cash back on up to $3,000 in purchases per month (see website for details).

    While you don't need to place an initial deposit for a checking or savings account, you'll need at least $2,500 to open a money market account or CD. If you don't have a lot of money to deposit, some of the options are our list do not require a minimum opening deposit on accounts.

    Branch and ATM locations: Discover has just one physical branch, in Delaware. You have free access to over 60,000 ATMs in the Allpoint and MoneyPass networks.

    Discover Bank Review

    Synchrony Bank

    Best high-yield savings account Synchrony High Yield Savings Account Start saving Synchrony Bank, Member FDIC Synchrony Bank Synchrony High Yield Savings Account Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.75/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks

    Earn 4.75% Annual Percentage Yield (APY). $0 minimum deposit. FDIC Insured.

    Fees

    no monthly service fee

    Annual Percentage Yield (APY)

    4.75%

    Minimum Opening Deposit

    $0

    ProsConsInsider’s Take

    With a high rate and no fees, the Synchrony High Yield Savings Account is a great option for savers. But if you want to open a checking account to do all of your banking at one place, you may want to consider one of the best online banks instead.

    Synchrony High Yield Savings Account review External link Arrow An arrow icon, indicating this redirects the user." Product DetailsShow Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

    Synchrony pays 4.75% APY on its high-yield savings account, which is great compared to other well-known banks. It doesn't require a minimum opening deposit, and there are no monthly fees. Unlike most savings accounts, it comes with an ATM card so you can easily access your savings.

    Synchrony only offers a high-yield savings account, CDs, and a money market account — not a checking account. If you need to transfer money from your Synchrony account to an external checking account, it could take a few business days. But keep in mind that Synchrony makes it easier to access your money than most banks without checking accounts, because it gives you an ATM card.

    Branch and ATM locations: Synchrony is an online-only bank, so it doesn't have any branches. Although it doesn't have its own ATM network, you can use ATMs in the Plus, STAR, or NYCE ATM networks for free. Synchrony also reimburses up to $5 per month for any fees charged by an out-of-network machine.

    Synchrony Bank Review

    TD Bank

    Best for customer service TD Bank Start banking TD Bank, Member FDIC TD Bank TD Bank Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.75/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks

    Over 1,100 branches and 2,600 ATMs with low or no minimum opening deposits on bank accounts

    Annual Percentage Yield (APY)

    Varies depending on account

    Minimum Opening Deposit

    Varies depending on account

    ProsConsInsider’s Take

    TD Bank is Insider's pick for the best national bank on the East Coast. It has long customer service hours and bank accounts with low minimum opening deposits. You also might like TD Bank if you're searching for a variety of home loan options.

    TD Bank review External link Arrow An arrow icon, indicating this redirects the user." Product DetailsShow Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

    TD Bank is ranked third in JD Power's 2023 U.S. National Banking Satisfaction Study. Many branch locations are open seven days per week, which is great if you struggle to make it to the bank during the workday.

    TD Bank's ATM fees aren't necessarily higher than other banks' fees, but its fine print may affect which checking account you choose to open.

    Just be aware that the TD Bank Beyond Checking Account is the only TD Bank checking account that doesn't charge a fee when you non-TD Bank ATMs — and you must maintain a $2,500 balance for TD Bank to reimburse fees charged by out-of-network ATM operators.

    Branch and ATM locations: TD Bank has over 1,100 branch locations across 16 states, with about 2,600 ATMs.

    TD Bank Review

    Regions Bank

    Best for avoiding monthly fees Regions Bank Start banking Regions Bank, Member FDIC Regions Bank Regions Bank Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.75/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks

    Over 1,300 branch locations in the Southeast US region with variety of accounts including free savings account and possible to waive monthly fees

    Annual Percentage Yield (APY)

    Varies depending on account

    Minimum Opening Deposit

    Varies depending on account

    ProsConsInsider’s Take

    Regions Bank is one of the best national banks, especially in the Southeast. It's a good option if you prefer a bank with a variety of bank accounts or a large branch network. But if your goal is to earn a high interest rate or avoid account fees, you'll likely fare better at another institution.

    Regions Bank review External link Arrow An arrow icon, indicating this redirects the user." Product DetailsShow Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

    Regions offers a wide range of bank accounts, so you can probably find one that fits your needs. The Regions LifeGreen® Savings Account is a unique savings option from a brick-and-mortar bank. It doesn't charge monthly fees.

    Regions charges you if you overdraw from your account or if you use an out-of-network ATM. You also may have to pay a monthly service fee on some accounts.

    Branch and ATM locations: Regions has around 1,500 branch locations in 15 states, and about 2,200 ATMs.

    Regions Bank Review

    U.S. Bank

    Best in-person bank for CDs U.S. Bank Standard CD Start saving U.S. Bank, Member FDIC U.S. Bank U.S. Bank Standard CD Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.5/5 Annual Percentage Yield (APY)

    0.05% to 0.25%

    Minimum Opening Deposit

    $500

    ProsConsInsider’s Take

    U.S. Bank is included in our best national banks guide as the best national bank in the Midwest and West. It's a good choice if you want a brick-and-mortar bank with 24/7 live support. It also has a variety of credit card and lending options, and you can earn significant welcome bonuses when you open checking and savings accounts.

    U.S. Bank review External link Arrow An arrow icon, indicating this redirects the user." Product DetailsShow Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

    U.S. Bank is a solid choice if you want to open a CD with a national bank. The bank provides more types of CDs than most big banks, including Step Up CDs that increase your rate every seven months, and Trade Up CDs that increase your rate once during the term if U.S. Bank rates go up. U.S. Bank CD rates are particularly high on its CD Specials, which pay 3.55% to 4.50% (Varies by location) APY — these are great rates for a brick-and-mortar bank.

    Although you may be eligible to waive monthly maintenance fees, U.S. Bank makes it a little harder than many competing national banks.

    Branch and ATM locations: U.S. Bank has around 2,000 branch locations in 26 states, and roughly 37,000 ATMs through the MoneyPass network.

    U.S.Bank Review

    Importance of Choosing the Right Bank

    To choose the right bank, you have to know what you want. Are you looking to open one specific bank account or do you plan to get multiple bank accounts or products? Do you prefer going to a branch and getting assistance from a banker, or would you rather use your mobile phone and computer to primarily manage your account?

    To help you narrow down your options, we've outlined specific features to look for in a top bank, depending on what you want out of your banking experience.

    Top Banks for Savings Accounts

    The top banks for savings accounts pay competitive interest rates. The average savings account interest rate is 0.45% APY, but many banks have high-yield savings accounts which have a significantly higher APY than the national average. The top rates you can find are 5% interest savings accounts, and these are primarily at online banks. Small banks have higher savings rates than national brands, but as you can see from our top pick Synchrony, you'll still benefit from a great interest rate regardless of whether choose a national or local institution.

    You should out look out for monthly bank maintenance fees, excess transaction fees, paper statement fees, and inactivity fees. Many banks waive these fees if you meet certain criteria, and some don't charge these fees at all.

    Best Banks for Checking Accounts

    The best financial institutions for checking accounts make it easy to access your money. You should have access to a robust ATM network. If you like in-person banking, you should look for a bank with branches nearby. If you like online banking, you should find a bank that accepts cash deposits or offers a strong mobile app so you can manage your account digitally.

    A good bank for checking accounts will also help you avoid common bank fees, like monthly services fees, overdraft fees, and out-of-network ATM fees. You can also find specialty checking accounts that offer additional perks like cash bonuses for new customers, interest, or cash-back debit cards.

    Banks with the Best Customer Service

    To find the banks with the best customer service, we used information collected by the J.D. Power 2023 U.S. National Banking Satisfaction Study. The study gathered responses from nearly 13,000 banking customers from August to September 2023. It found that Capital One, Chase, and TD Bank were ranked highest in overall customer satisfaction.

    If you're also looking for banks that have extended customer service hours, a bank with 24/7 customer support could also be a good fit.

    Best Bank for an Online-Only Experience

    Online banks often do not have any physical locations, but the top banks offer strong mobile and online banking so you won't miss out on going to a branch because you'll have convenient digital access to your accounts.

    The best banks for online-only experience have free checking accounts and savings accounts, meaning that they don't charge any monthly service fees. Many of these top banks also won't charge any overdraft fees.

    Best Banks for In-Person Banking

    The best brick-and-mortar banks stand out for their robust account options and services. They'll have different types of checking accounts and savings accounts to choose from, as well as home loans, credit cards, personal loans, and more so you can build your banking experience over time. These banks often also offer relationship banking, which means that you'll get perks like discounts or waived account fees for having multiple products at the bank.

    Brick-and-mortar banks usually charge monthly service fees and overdraft fees on their bank accounts, but the top options will give you multiple ways to waive these fees. For example, you might be able to waive fees on a checking account by maintaining a certain amount of money in your account daily or setting up a certain amount in direct deposits per month. To waive overdraft fees, you'll be able to link your checking account to a savings account, or apply for a line of credit. Fees may apply for overdraft protection, but it'll be significantly less than paying overdraft fees.

    Differences Between Online Banks and Traditional Banks

    The biggest difference between online banks and traditional banks is that traditional banks have physical branches, while online banks typically don't.

    Since online banks have fewer overhead costs, their bank accounts tend to have fewer bank fees than ones from traditional banks. You'll also find savings accounts with higher interest rates at online banks.

    Brick-and-mortar banks tend to have a greater variety of bank accounts and services than online banks, though. For example, brick-and-mortar banks are more likely to exchange foreign currency, or offer more CD term lengths.

    How to Choose Between a Traditional and Online Bank

    Choosing between a traditional and online bank depends entirely on your preferences.

    Many national online banks have bank accounts with no monthly service fees and no overdraft fees, but you have to be OK with managing your account digitally. If you rely on a branch experience to manage your bank accounts, you might find a traditional bank is better suited for your needs. That said, if you go with a traditional bank just make sure you find bank accounts where you can waive potential bank fees.

    How to Switch Banks

    If you're ready to switch to a new bank, the first thing you have to do is find a new bank that's a better fit for your needs. Make sure the banks has all the accounts and services you want, and review fees to make sure that you can avoid them entirely.

    Once you've settled on a bank, you can open an account at a branch, online, or by phone. Banks verify your identity whenever you're applying for a bank account, so you'll need to provide your Social Security number and a government-issued ID.

    You can close your old bank account once your new bank account is approved and open. To set up a direct deposit to your new account, you'll have to update your account information with your employer. The same goes for any bills that you have set up with autopay — you'll have to update your information with the company that issues the bill.

    Bank Trustworthiness and BBB Ratings

    We review the ethics of each company so you can see if a specific financial institution aligns with your values.

    We also include the settlement history of the last three years, so you're aware of any recent public controversies involving the bank.

    The Better Business Bureau grades companies by looking at responses to customer complaints, advertising, and transparency about business practices.

    A strong BBB grade doesn't guarantee you'll have a smooth experience with a bank. You may also want to read online reviews or look into public scandals. We've also detailed any existing public issues with each bank.

    Brick-and-mortar banks

    InstitutionBBB grade
    TD BankA+
    RegionsA
    U.S. BankB
    ChaseA+

    Regions Bank has an A rating due to government action taken against the bank. U.S. Bank currently has a B rating because of government action taken against the bank.

    In 2022, Regions Bank was required to $191 million in a settlement with the Consumer Financial Protection Bureau. The CFPB accused the bank of charging surprise overdraft fees for some ATM withdrawals and debit card transactions.

    The US Bureau of Consumer Financial Protection said TD Bank had been breaking the law by charging customers for its Debit Card Advance service without their permission.

    U.S. Bank paid the government $200 million in a settlement when accused of approving FHA mortgages for insurance when borrowers didn't meet the minimum criteria.

    In 2021, JP Morgan Chase & Co. paid the SEC $125 million in a settlement that stated the company did not have proper record keeping for certain documents. JP Morgan Chase also paid the Commodity Futures Trading Commission $75 million in a settlement when accused of permitting unapproved communication, such as text messages and WhatsApp messages.

    In 2023, JP Morgan Chase was also required to pay $75 million in a settlement with the U.S. Virgin Islands that accused the financial institution of failing to report suspicious activity regarding Jeffrey Epstein's sex trafficking operation.

    Online banks

    InstitutionBBB grade
    Axos BankA+
    Capital One 360A+
    SynchronyNR
    DiscoverA+

    Synchrony currently has an NR rating because the bank is in the process of responding to previously closed complaints.

    Synchrony has been involved in a few public controversies. In 2023, Synchrony was required to pay $2.6 million in a settlement when accused of calling customers about bank accounts they didn't have. In 2021, the bank also was required to pay $3.5 million in a settlement when accused of making unreasonable phone calls to debtors living in California.

    In 2024, Discover was required to pay $1 million in a settlement that claimed Discover denied Deferred Action for Childhood Arrivals, or DACA, recipients loans because of their immigration status. In the settlement, Discover agreed to rewrite its lending rules to make DACA recipients equally eligible for loans as comparable U.S. citizens.

    Capital One is also facing a lawsuit. The bank used to have an account called 360 Savings. In 2019, Capital One launched the new 360 Performance Savings Account, which paid a much a higher interest rate. Many customers thought their old savings accounts would transition into this new one, but in reality, they had to open a new 360 Performance Savings Account to earn the higher rate. So some customers have been earning a significantly lower savings rate for years.

    In the lawsuit, the plaintiffs' lawyers allege that Capital One didn't inform 360 Savings customers that these were two distinct accounts, or that 360 Performance Savings paid a higher rate. However, Capital One wants this case dismissed because it claims people had every opportunity to learn these facts on their own. This case is still ongoing.

    Best Banks FAQs

    What are the best banks for savings accounts? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

    The best banks for savings accounts tend to be online banks or banks with no-fee high-yield savings accounts. You should use an online bank if you're looking for low fees and the highest APYs. Because online banks don't pay for physical branch locations, they can charge less and pay more. However, physical banks are better for anyone who needs to deposit cash regularly.

    Which banks have the lowest fees for checking accounts? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

    Online banks usually have the lowest fees for checking accounts, but keep in mind that most do not have any physical branches. If you value banking in-person, you can find checking accounts that waive typical bank fees in several ways.

    How do I choose the best bank for my needs? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

    To choose the best banks, think about which type of financial institution you want to bank with: a traditional, an online bank, a credit union, or a non-traditional banking platform. If you're looking for a bank account, look at various options from different financial institutions and compare fees, interests rates, opening requirements, and any other perks. It's also beneficial to think about your overall banking experience and whether you might be interested in other accounts or services in the future. 

    Are online banks better than traditional banks? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

    You'll prefer an online bank over a traditional bank if you're interested in bank accounts with best interest rates. Online banks are also more likely than traditional banks to have bank accounts with no monthly service fees and overdraft fees. However, you may not think that online banks are better than traditional banks if you like going to branches to get customer support or you want more bank account options and services for your situation.

    What is the No. 1 bank in America? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

    The No. 1 bank in America is Chase, if you go by the highest number of locations. Many locations makes it good for getting easy access to your money and regular customer service. Chase also has a high score from the Better Business Bureau.

    Which bank has the most complaints? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

    The bank with the most complaints may be Citibank. Unlike other major banks, it is not accredited by the Better Business Bureau and received a score of F.

    Why You Should Trust Us: Our Expert Panel for the Best Banks

    BI

    To learn more about what makes a good bank and how to choose the best fit, four experts weighed in:

    We're focusing on what will make a bank most useful, including fees, interest rates, accessibility, and more. Here's what they had to say about banking online. (Some text may be lightly edited for clarity.)

    How can someone determine whether a bank is the right fit for them?

    Tania Brown, certified financial planner and vice president of coaching strategy at OfColor:

    "Obviously, you want to make sure it's FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you're okay online. Do you write checks? Do you not write checks? So it's thinking through how your experience with it is going to be before you make that decision."

    Sophia Acevedo, banking editor, Business Insider:

    "I would create a list of what I prioritize most in a bank account. For example, some banks have accounts that charge monthly service fees. I would look to see what the requirements are for waiving the monthly service fee and whether I think I could feasibly meet those requirements each month. If I'm searching for an interest-earning bank account I'll pay attention to interest rates. I would make sure the account pays a higher interest rate than the average bank account."

    What should someone look for in a brick-and-mortar bank?

    Brown:

    "How can that bank grow with you? If you are 25, single or newly married, and all you need is a checking account, that's going to look very different 15 years from now when you may have had a couple of jobs, you may have an IRA roll over, or you may want a financial adviser."

    Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:

    "How accessible it is. So where are the branches? And if I am to go out of town or something, how accessible is my money to me?"

    Acevedo:

    "With a brick-and-mortar bank, I would review all the bank accounts and make sure there are options where I can waive monthly service fees. I would also factor in the overall banking experience. For example, I would see if a bank lets you exchange foreign currency — not all do — and has a strong mobile app."

    What should someone look for in an online bank?

    Roger Ma, certified financial planner with lifelaidout® and author of "Work Your Money, Not Your Life":

    "How onerous the transfer process is, transferring money in and transferring money out. Is it same day, next day? Is it pretty easy to sync a brick-and-mortar checking account to this particular high-yield savings account?"

    James:

    "When it comes to online banks, you want to be a little bit more strict about what type of interest rates they're providing. That's the biggest thing, because online banks are supposed to have the higher interest rate because they don't have the overhead of the brick-and-mortar. You want to make sure that it's well above the national average.

    "What types of securities do they provide? Do they have two-factor identification? If it's an online bank, they should definitely have — at the bare minimum — two-factor authentication in how easy it is to change your passwords and things like that, because you want to be a little more hypersensitive about the cyber security for a strictly online bank."

    Our Methodology: How We Chose the Best Banks

    There are a lot of online banks out there. Through our research, we've found that the best banks offer a wide range of products and effective customer service.

    Banks should make it easy to access your money. With a brick-and-mortar bank, we looked at banks with large branch and ATM networks. Although most online banks don't have physical branches, we chose ones with plenty of ATMs nationwide.

    A bank should also make it affordable to keep your money with the institution. We chose online banks that pay high rates and charge low fees, or no fees at all. Brick-and-mortar banks are known for paying lower rates and charging higher fees, but a good one should make it possible to waive monthly fees. We also looked at other types of charges, such as fees for overdrafts, using out-of-network ATMs, and foreign transactions.

    See our full methodology for how we rate banks »

    If you live in one of the following states, you can also check out our region-specific bank recommendations:

    spanLaura Grace Tarpley (she/her) is an expert in mortgage rates, refinance rates, lenders, bank accounts, and borrowing and savings tips for Personal Finance Insider. She worked on  Business Insider's "The Road to Home" series, which won a Silver award from the National Associate of Real Estate Editors./spanspanShe has written about personal finance for over seven years. Before joining the Business Insider team, she was a freelance finance writer for companies like SoFi and The Penny Hoarder, as well as an editor at FluentU./span Laura Grace Tarpley, CEPF Personal Finance Reviews Editor Laura Grace Tarpley (she/her) is an expert in mortgage rates, refinance rates, lenders, bank accounts, and borrowing and savings tips for Personal Finance Insider. She worked on  Business Insider's "The Road to Home" series, which won a Silver award from the National Associate of Real Estate Editors.She has written about personal finance for over seven years. Before joining the Business Insider team, she was a freelance finance writer for companies like SoFi and The Penny Hoarder, as well as an editor at FluentU. Read more Read less spanSophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics./spanspanExperience/spanspanSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, and budgeting and saving. She is highly knowledgeable about long-term trends in rates and offers at banks across the U.S./spanspanBefore joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist./spanspanSophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of a href="https://www.businessinsider.com/personal-finance/what-is-able-savings-account"ABLE accounts/a, tax-free savings accounts for people with disabilities. She was also a winner of a a href="https://cnpa.com/cja/2018campus/"2018 California Journalism Awards Campus Contest/a for her photography./spanspanShe loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circumstances and overcoming their fears around money./spanspanExpertise/spanspanSophia's expertise includes:/spanullispanBank accounts/span/lilispanSavings and CD rate trends/span/lilispanBudgeting/span/lilispanSaving/span/lilispanHow banks operate/span/li/ulspanEducation/spanspanSophia graduated from California State University Fullerton with a degree in journalism and a minor in political science./spanspanShe is an avid reader across a variety of genres, and she started running in 2021. She ran in the 2024 Los Angeles Marathon./span Sophia Acevedo Banking Editor Sophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics.ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, and budgeting and saving. She is highly knowledgeable about long-term trends in rates and offers at banks across the U.S.Before joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circumstances and overcoming their fears around money.ExpertiseSophia's expertise includes:EducationSophia graduated from California State University Fullerton with a degree in journalism and a minor in political science.She is an avid reader across a variety of genres, and she started running in 2021. She ran in the 2024 Los Angeles Marathon. Read more Read less spanEvelyn He is a Compliance and Operations Associate on the Personal Finance team to ensure content accuracy and editorial independence so readers get up-to-date and objective financial advice./spanspanThe compliance team's mission is to provide readers with fact-checked and current stories so they can make informed financial decisions. The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team./span Evelyn He Compliance and Operations Associate Evelyn He is a Compliance and Operations Associate on the Personal Finance team to ensure content accuracy and editorial independence so readers get up-to-date and objective financial advice.The compliance team's mission is to provide readers with fact-checked and current stories so they can make informed financial decisions. The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team. Read more Read less Top Offers From Our Partners Chime® Checking Account Set up Direct Deposit and get your paycheck up to 2 days before your coworkers.** No overdraft fees. No monthly fees. 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    Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.

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