Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate products and services to help you make smart decisions with your money.
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.
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 checking account from a national brand
- Chase: Best for a large branch network
- Axos Bank: Best for a variety of online account options
- Discover®: Best for doing all of your banking in one place
- Ally: Best for saving and investing
- Synchrony Bank: Best high-yield savings account from a national brand
- TD Bank: Best for customer service
- Popular Direct: Best for the highest interest rates on CDs
- Newtek Bank: Best for a high interest rate on a high-yield savings account
Featured Bank Account Offers
no monthly service fee
See website for details
$0
$250
- Earn interest on all account balances
- No opening deposit or minimum account balance
- No monthly service fee
- No foreign transaction fee
- Range of overdraft protection options
- Processes direct deposits up to 2 days early
- Doesn't reimburse out-of-network ATM fees
- Limited access to customer service by phone
Capital One is a strong bank overall. You'll earn competitive interest rates on online savings accounts and CDs.
Capital One 360 Checking- Earn $250 when you open a new account with promo code CHECKING250 and receive at least 2 direct deposits, each of $500 or more, within 75 days of account opening
- Over 70,000 free ATMs nationwide
- Branches in NY, LA, TX, MD, VA, NJ, and Washington, DC
- Interest compounded daily, paid monthly
- FDIC insured
Varies depending on account
Varies depending on account
- Cash back with your debit card
- High interest rates on savings, CD, and money market accounts
- Long CD terms
- 24/7 customer service
- Doesn't reimburse out-of-network ATM fees
- Online bank with no physical branch locations
- Access to 60,000 free ATMs
- Interest on interest-earning accounts compounds daily
- Member FDIC
no monthly service fee
up to 4.00%
$0
up to $300
- FDIC insured for $2 million
- High interest rate
- Earn a higher interest rate with qualifying activities
- No minimum opening deposit
- No monthly service fees
- Up to $300 bonus with qualifying direct deposit (terms apply)
- Savings tools
- Early direct deposit
- Joint account available
- Declined purchase if you overdraw by more than $50
- Doesn't reimburse out-of-network ATM providers' fees
- May deposit cash at Green Dot locations but there's a $4.95 fee
SoFi Checking and Savings is a great account option if you don't mind keeping your savings and checking in one account.
SoFi Checking and Savings (Member FDIC)- Sign-up bonus of up to $300. When you sign up and set up direct deposit. Wait for direct deposit to hit account (typically 2-4 weeks). Collect cash bonus of $50 to $300 depending on direct deposit amount
- Up to 4.00% APY with direct deposit or $5,000 or more in qualifying deposits during the 30-day evaluation period
- FDIC Insured and covered up to $2 million in FDIC coverage through a network of participating banks
- 55,000+ fee-free ATMs
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
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.
Capital One savings account and CD rates are also higher than the national average, so it could be beneficial to open multiple bank accounts if that's your preference.
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.
Chase Bank
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.
Chase has over 4,700 branches throughout the continental U.S., and around 16,000 ATMs.
Axos Bank
Axos offers five different checking accounts, all geared toward specific needs:
- Essential Checking (get paid two days early)
- Rewards Checking (earn a high APY)
- CashBack Checking (earn up to 1% cash back on purchases)
- Golden Checking (age 55+)
- First Checking (ages 13-17)
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:
- Earn 0.40% APY when you receive at least $1,500 in direct deposits in a month (this requirement must be met to be eligible to earn any interest during the statement cycle, regardless of whether the other interest-earning requirements are met)
- Earn 0.30% APY when you make 10 Axos Visa® Debit Card transactions in a month (minimum $3 per transaction) or sign up for Account Aggregation/Personal Finance Manager (PFM) in Online Banking
- Earn 0.99% APY by maintaining an average daily balance of $2,500 per month in an Axos Managed Portfolios Invest Account
- Earn 0.99% APY by maintaining an average daily balance of $2,500 per month in an Axos Self Directed Trading Invest Account
- Earn 0.60% APY by using your account to make your full monthly Axos consumer loan payment
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.
Discover Bank
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).
You also don't need to place an inital deposit for a checking, savings, CD, or money market account.
Discover has just one physical branch, in Delaware. You have free access to over 60,000 ATMs in the Allpoint and MoneyPass networks.
Ally
Ally is one of the best online banks because it offers strong banking and investing products.
You can get a high-yield savings account, a money market account, regular CDs, a no-penalty CD, and bump-up CDs. That's more variety than most other banks have. Ally is also one of the few banks that doesn't have minimum opening deposits for any of its accounts, so you can start online banking with any amount.
The Ally Savings Account stands out in particular because it bucketing feature to help you save money for financial goals. You can create a bucket for an Emergency Fund or Travel, and then separate money in your savings for that specific goal.
Ally also has one of the best investment apps for beginners. If you're looking for a robo-advisor to get started with investing, it's also a solid choice.
Synchrony Bank
Synchrony pays 4.10% 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.
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.
TD Bank
TD Bank is ranked third in JD Power's 2024 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.
TD Bank has over 1,100 branch locations across 16 states, with about 2,600 ATMs.
Popular Direct
Popular Direct is an online-only division of Popular Bank. Popular Direct offers some of the best CD rates available nationwide.
It offers a high APY for 3-month, 6-month, 1-year, 18-month, 2-year, 3-year, 4-year, and 5-year CD terms. You need $10,000 to open a CD, though.
Popular Direct also may be worth considering for a high-yield savings account, too. Popular Direct Savings pays 4.60% APY, which is among the highest savings account rates found at online banks.
Popular Direct accounts have high minimum opening deposit requirements, though. Popular Direct also doesn't offer a checking account.
Popular Direct's mobile app has poor ratings in the Apple and Google Play store. You'll likely prefer one of the other banks on our list if that's a priority for you.
Newtek Bank
Newtek Bank is one of the best banks for a high-yield savings account right now. The Newtek Bank Personal High Yield Savings Account pays 4.70% APY, has no monthly service fee, and can be opened with $0 upfront.
Newtek Bank also offers some of the best 18-month and 2-year CD rates.
Newtek Bank is an online-only bank. It doesn't have a personal checking account, and you can't get a debit card or ATM card with a high-yield savings account. If you need to withdraw money, you'll have to transfer it to an external bank account.
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? Are there certain principles or values you align with? Like, you might consider banking with a women-led or minority-owned bank if you are interested in these specific types of financial institutions.
Also, if you are currently unbanked because you don't have a U.S. ID, know that you have options. The top banks for immigrants and non-U.S. Citizens allow you to provide a foreign passport or Matricula Consular to open a bank 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. (And if you're particularly looking for women-owned banks, Black-owned banks, or Hispanic-American-owned banks, we have lists of those, too.)
Top Banks for Savings Accounts
The top banks for savings accounts pay competitive interest rates. The average savings account interest rate is 0.42% 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 2024 U.S. National Banking Satisfaction Study. The study gathered responses from nearly 11,000 banking customers from July to October 2024. 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.
It may also help to check a bank holiday schedule, so you know if a particular financial institution may be open on certain holidays when others aren't.
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 bank 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
| Institution | BBB grade |
| TD Bank | NR |
| Chase | A- |
TD Bank has an NR rating because the BBB doesn't have enough information to issue a rating.
The U.S. 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.
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
| Institution | BBB grade |
| Axos Bank | A+ |
| Capital One 360 | A+ |
| Synchrony | NR |
| Discover | A+ |
| Popular Direct | A+ |
| Newtek Bank | A+ |
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.
In 2023, the Federal Reserve Board fined Popular Direct's parent bank, Popular Bank, $2.3 million. The Federal Reserve Board said the fine was because Popular Bank processed six Paycheck Protection Program loans that had significant signs of potential fraud.
Best Banks FAQs
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.
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.
To choose the best bank, 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.
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.
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
To learn more about what makes a good bank and how to choose the best fit, four experts weighed in:
- Tania Brown, CFP® professional and vice president of coaching strategy at OfColor
- Roger Ma, CFP® professional and author of "Work Your Money, Not Your Life"
- Sophia Acevedo, banking editor, Business Insider
- Mykail James, MBA, certified financial education instructor, BoujieBudgets.com
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, CFP® professional 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, CFP® professional 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
Business Insider's personal finance team looked at dozens of financial institutions to find the best banks offer a wide range of products and effective customer service.
Business Insider's personal finance team is editorially independent and we have editorial standards we follow for rating and reviewing products. Being editorially independent means our business team does not decide how we cover products and what we write about.
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.
We rate bank products on a scale from one to five stars. If a checking account has a rating of one star, it means the bank account requires significant improvement. It's also the lowest possible rating. If a checking account has five stars, it's considered a superior option. That's the highest rating possible.
See our bank account rating methodology to learn more about how we rate bank accounts. We score various features on a scale of zero to five. Then, calculate the weighted average to get an account's final rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
If you live in one of the following states, you can also check out our region-specific bank recommendations:
- The best banks and credit unions in California
- The best banks and credit unions in Florida
- The best banks and credit unions in Georgia
- The best banks and credit unions in Massachusetts
- The best banks and credit unions in North Carolina
- The best banks and credit unions in Texas
- The best banks and credit unions in Colorado
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.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
