Deal
Massive signup bonus worth $1,250 with Chase Ultimate Rewards
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Compare bank accounts from the Big Four US banks
Search through a range of personal and business financial products from the largest banks in America.
Compare accounts from the four largest banks in the US, dubbed the Big Four, which include JPMorgan Chase, Bank of America, Wells Fargo and Citi. Narrow your search even further by filtering by monthly fee and minimum opening deposit.
Deal
$300 signup bonus when you open a new Chase Business Complete Banking account with qualifying activities
Offer valid for Chase business checking accounts through October 21, 2021, when you deposit $2,000 within 30 days of opening your account, maintain $2,000 for 60 days and complete five transactions within 90 days.
Transactions include: debit card purchases, QuickDeposit, ACH deposit, wires transfers.
Deal
$225 signup bonus when you open a Chase Total new account with direct deposit
Offer valid for Chase Total Checking through October 18, 2021, when you set up direct deposit within 90 days of opening your account.
Deal
Get $100 for new Chase Secure Banking customers
To get the $100, you'll need to open a new Chase Secure Banking account and complete 10 qualifying transactions within 60 days of coupon enrollment. Offer expires 10/18/2021.
What are the Big Four banks?
The Big Four banks in the US — JP Morgan Chase, Bank of America, Wells Fargo and Citi — are the largest banking institutions by assets held and serve millions of customers each year. These powerhouses offer a wide range of personal and business financial products and together have the largest ATM network in the US. JPMorgan Chase is both the oldest and largest of the Big Four, as it was founded in 1799 and now holds over $2.53 trillion in assets.
The Big Four’s market share
JPMorgan Chase currently has the largest market share out of the Big Four, with Bank of America coming in at a close second, followed by Wells Fargo and Citi. Since the Big Four hold such a large market share, they’re a popular choice among consumers thanks to their high levels of financial security. Regardless of which bank you choose, most US financial institutions are backed by FDIC deposit insurance, which protects deposits up to $250,000.
| Bank | Market capitalization (2018) | Market share |
|---|---|---|
| JPMorgan Chase | $2.53 trillion | 15.4% |
| Bank of America | $2.28 trillion | 15.1% |
| Wells Fargo | $1.95 trillion | 14.8% |
| Citi | $1.84 trillion | 6% |
Which is the best bank in the US?
There’s no one bank that is “best” overall, as what’s best for you will depend on your financial situation and goals. However, here are a few differences between the Big Four that may help sway you one way or another.
- JPMorgan Chase. Largest bank in terms of market share, most ATMs.
- Bank of America. International branches, great customer service, topnotch mobile banking app.
- Wells Fargo. Most branch locations, versatile loan options including student loans and home improvement loans.
- Citi. International branches, variety of store-issued credit cards.
Compare the best banks and credit unions
Availability of customer service
| Big Four bank | Phone | Live Chat |
|---|---|---|
| JPMorgan Chase | Available 24/7 | No |
| Bank of America | Monday through Friday: 8 a.m. to 11p.m. ET Saturday and Sunday: 8 a.m. to 8 p.m. ET | No |
| Wells Fargo | Available 24/7 | No |
| Citi | Available 24/7 | Yes |
Comparing the Big Four
Choosing the best bank for you depends on your personal financial needs. The Big Four banks all offer a similar range of products and services, but there are a few key differences. First, consider the accounts and services you wish to use. For example, you might be interested in a high-yield savings account and a low-fee checking account. Once you have this in mind, compare what each bank has to offer in terms of APYs, fees, customer support and more.
How to compare bank accounts from the Big Four
When you’re looking at checking accounts offered by the Big Four, consider the following features:
Fees
From monthly fees to overdraft charges and everything in between, be sure to compare fee schedules between accounts. Some banks will waive your monthly fee if certain conditions are met, whereas others may charge you regardless. Be sure to consider how you will be using your account when considering the importance of fees. For instance, if you plan to frequently withdraw cash from ATMs, look into the fees associated with ATM transactions.
ATM access
Convenient access to the money in your checking account is another key factor in choosing the right product for your needs. Check out whether the account provides free access to ATMs, how many ATMs are in the bank’s network and where those ATMs are located. Also consider whether the bank will reimburse you for out-of-network ATM charges.
Online banking
The Big Four banks all have Internet and mobile banking access, so it comes down to which offers the best customer experience. Bank of America’s mobile banking app has a great reputation, but you may want to look around online to find out which would be best for your needs. Make sure that the bank and app you choose is compatible with your mobile device if you like banking on the go.
Interest rates
An interest-bearing checking account can put your money to work when it’s not being used. Interest rates on checking accounts at Big Four banks may not be much, but it can still grow your account balance. Interest rates may also be higher on balances that are above a certain threshold.
Minimum deposit and balance requirements
Minimum deposits and balance requirements may vary depending on which bank you choose. Plus, if you don’t meet the balance requirements, you might be charged a fee, which could eat into your balance. Shop around to find an account with a minimum deposit in your budget and balance requirements you can easily meet each month to avoid unnecessary charges.
Perks
Some banks offer incentives and perks to attract customers, including signup bonuses, free linked accounts, rewards programs and fee-free ATMs. Compare the features and signup bonuses of each account in order to make the most of your money.
Branch locations
If you prefer to do your banking in person, you might want to think about how many branches are in your area. There’s no point in opening an account with a bank if most of its branches are on the other side of town.
When you’re looking at savings accounts offered by the Big Four, consider the following features:
Interest rates
Interest rates determine how quickly your savings can grow. Look at the APYs of each account to determine which one has the best value. With the Big Four, you may be able to get an introductory rate, which offers higher interest for a set period of time. Interest rates may also be higher on account balances that are above a certain threshold.
Online banking
The Big Four banks all have Internet and mobile banking access, so it comes down to which offers the best customer experience. Bank of America’s mobile banking app has a great reputation, but you may want to look around online to find out which would be best for your needs. Make sure that the bank and app you choose is compatible with your mobile device if you like banking on the go.
Fees
From monthly fees to overdraft charges and everything in between, be sure to compare fee schedules between accounts. Some banks will waive your monthly fee if certain conditions are met, whereas others may charge you regardless. Since you’re most likely opening a savings account to save money, it’s important to consider how fees might affect your savings goals.
Minimum deposit and balance requirements
Minimum deposits and balance requirements may vary depending on which bank you choose. Plus, if you don’t meet the balance requirements, you might be charged a fee, which could eat into your savings. Shop around to find an account with a minimum deposit in your budget and balance requirements you can easily meet each month to avoid unnecessary charges.
Perks
Some banks offer incentives and perks to attract customers, including signup bonuses, free linked accounts, rewards programs and fee-free ATMs. Compare the features and signup bonuses of each account in order to make the most of your savings.
Branch locations
If you prefer to do your banking in person, you might want to think about how many branches are in your area. There’s no point in opening an account with a bank if most of its branches are on the other side of town — unless you prefer an online savings account.
Pros and cons of banking with the Big Four
Pros
- More access to your money. By choosing one of the Big Four, you’ll have easy access to your money through a large number of branches, ATM networks and online banking.
- 24/7 customer service. Depending on the Big Four bank you choose, you’ll likely have access to 24/7 customer service, which can come in handy if you have a financial emergency.
- Easily link your Big Four bank account. If your checking account is already with one of the Big Four, you’ll find it easy to link your new savings accounts.
- Financial stability. The Big Four have the largest market share of all banks, meaning you can trust that your money is safe. And even if any of these banks were to fail, they’re insured by the FDIC, meaning you’re protected for up to $250,000 — or more.
Cons
- Other brands out there. The Big Four are all well-known institutions, but you should still look at other banks when making your comparisons. This helps to ensure that your savings are working as hard as possible toward your financial goals.
- Lower interest rates. The Big Four have a reputation for having the lowest interest rates in the market for their savings accounts. You can compare high-interest savings accounts here.
- Not the most competitive. Due to their popularity, the Big Four banks aren’t always as competitive with their rates and fees as smaller banks and credit unions.
Bottom line
If financial stability is your number one priority when choosing a bank, then opening an account with one of the Big Four could be right for you. These powerhouses aren’t likely to fail any time soon and offer a wide range of financial products to meet your personal and business banking needs. However, these institutions aren’t known to have the most competitive interest rates or fees.
Compare the Big Four banks with smaller providers and credit unions to find the savings account that best fits your needs.
Frequently asked questions
More guides on Finder
- TD Bank home equity review
Choose from several options, but beware of this lender’s fees and poor reviews.
- Digit Checking account review
A bank account that intelligently divvies up your money where you need it for a monthly fee.
- Spectrum Credit Union MySavings Youth review
A youth savings account with a whopping 7% APY on account balances up to $1,000.
- Northpointe Bank Kid’s Savings review
Northpointe Bank’s Kids Savings account earns an unmatched interest rate on balances above $1,000.
- M&T Starter Savings account review
A kids savings account with an interest rate that compounds daily but has long hold times for customer service.
- Garden Savings FCU Kids Club Savings account review
A kids’ savings account with a generous interest rate that transitions to a lackluster regular savings account when your child turns 18.
- Cashero savings account review
A high-yield savings account that supports multiple currencies.
- Bank of Missouri Show Me Savers Club review
Bank of Missouri’s Show Me Savers earns 0.1% APY but can’t be opened online.
- Emprise Bank High Interest Checking account review
A checking account that earns up to 1.75% APY and up to $25 in ATM reimbursements.
- Navy Federal Visa Buxx review
Navy Federal’s Visa Buxx card has no fees, but you must qualify for membership with the credit union.