Axos Bank Rewards Checking
Up to 1.25%
- No monthly maintenance fees
- Unlimited domestic ATM fee reimbursements
- No monthly minimum balance requirements
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The best banks and credit unions in the US are ones that works for you — it offers financial advice, services and tools that let you take charge of your money. Comparing your options and knowing what to look for can give you a leg up on finding what’s best for your financial situation. We researched over 60 financial institutions to find you the best bank to place your money and the accounts that come with them.
Best online bank
Straightforward products and services are paired with a completely online experience through Ally. Where it truly shines is its top-notch interest rates.
Best for a brick and mortar bankBank of America is dependable and accessible. Plus, it offers a huge selection of banking products and special features like cashback rewards and automated savings.
Best for credit unions
An almost-completely online credit union, Alliant offers transparent services and financial education resources for its members.
Best bank for small businessesTIAA Bank offers a suite of business banking products for commercial, nonprofit and small business use. These accounts go beyond simple cash management with tools that help you stay organized.
Best bank for savings account ratesHSBC is one of the largest international banks with more than 37 million customers across 70 countries. Its savings accounts stand out for their competitive APYs and low minimum deposit requirements.
Best savings bank with no ATM feesSynchrony is the second largest online-only bank in the US that offers great interest rates and unique perks like identity theft resolution services, travel and leisure discounts and more.
Best bank for budgetingPNC Financial Services Group offers two savings accounts that help you set savings goals and reach them with competitive APYs. Plus, this bank offers a wide selection of other financial products.
Best bank for ATM refundsAxos Bank is a digital institution with low overhead costs and almost nonexistent account fees. It offers many interest-bearing checking account options with special perks like unlimited domestic ATM refunds.
Best bank for no-fee products
Your checking, savings, credit card, IRA, CD, money market, student loan and personal loan accounts can all be fee-free with Discover.
Best bank accounts for teensCapital One offers two personal checking accounts: one for you and one for your teen. It may not have a broad selection of products, but it makes up for it in perks.
The best banks make it easy to save and spend money. They’re transparent and don’t try to bury unnecessary fees in pages of fine print. For these reasons, our research focused on evaluating institutions based on criteria like accessibility, fees, account type offerings, interest rates, and special features. If any banks had associated monthly fees, we made sure there were reasonable ways to waive them.
For 2020, we broke up our recommendations by category, so you can clearly see the top institutions for checking accounts, savings accounts and overall. We focused on banks with high interest rates, low fees and plenty of accessibility so you can take charge of your money without worrying about pesky fees and requirements getting in the way.
Traditional banks offer a wide variety of products, including savings and checking accounts, mortgages, personal loans and credit cards. The table below shows the top 11 banks in the US, along with the location of each institution. The list is ranked by asset size according to the Federal Reserve’s latest findings.
|Bank||Headquarters||Number of offices|
|Bank of America||North Carolina||4,475|
|JPMorgan Chase||New York||5,146|
|Morgan Stanley||New York||3|
Credit unions are focused on community because they’re owned by their members rather than a group of shareholders. Here are the top 11 credit unions by asset size, along with the number of branch locations owned by each institution.
|Credit union||Number of offices|
|Security Service FCU||67|
|Suncoast Credit Union||67|
There are several aspects one can look at when trying to find the best bank.
It’s all about finding the one that’s best for you. Consider these pros and cons of big banks when making a decision.
The products and services are the core of what a bank offers, but you may also want to consider how they offer them and their reputation. The major banks all offer comprehensive online banking services, but some smaller establishments have yet to catch up. If you know you’ll be depending on online banking, you may want to be sure it’s available.
To get a sense of their reputation and customer service record, you might look through consumer ratings. You’ll get an indication of how existing customers view their banking relationships, and they may highlight deal breakers. Word of mouth can also work well, so if you know someone who banks with that institution ask them about their experiences.
Ideally you will be able to access all your financial needs in one place, through the same bank. This can make it significantly easier and quicker to manage your finances. It can also mean you’re eligible for loyalty rewards and discounts.
It depends what your top priority is. An effective place to start is often by looking at available checking and savings accounts, because these are often a core component of banking services, and you may be required to open one in order to use other products.
Pay attention to the factors that are most important to your financial health when comparing top banks. If you’re still not sure where to get started, use our guide to bank accounts to figure out differences between accounts so you can understand what will work best for your situation.
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