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14 best banks and credit unions in the US

Selected from 130+ financial institutions that offer high rates, low fees and accessibility.

The best bank or credit union offers features that make it easy to save and spend money. They’re transparent and don’t try to bury unnecessary fees in pages of fine print. We researched more than 130 financial 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.

Quick view: 14 best banks and credit unions

Compare the best banks and credit unions and see why they made our list.

Best banks for checking accounts

Best banks for savings accounts

Best banks overall

Best banks for checking accounts

These financial institutions stand out for their superior checking account options:

Axos Bank

Best for checking accounts

Axos Bank has a wide range of checking accounts, including those that earn interest and rewards and special accounts designed for seniors, teens, business owners, those with bad credit and more.

Pros

  • No fees. Most accounts don’t have overdrafts, insufficient funds or monthly fees.
  • Unlimited ATM reimbursements. Axos Bank reimburses any and all domestic ATM fees you incur.
  • Interest-bearing accounts. Every Axos Bank checking account earns interest or cash back except for the Essential Checking account.

Cons

  • Opening deposit. Most accounts require a minimum $50 opening deposit to get started.
  • Limited customer service. Axos Bank is almost entirely online, so you can only reach customer service by phone or live chat.

Bluevine

Best for small businesses

Bluevine’s Business Checking account is a top account, and there are two plans to choose from: Standard for $0 per month, and Premier for $95 per month. Both plans offer unlimited transactions, 200 free checks if you maintain a balance, no overdraft or foreign transaction fees, and up to $3 million in FDIC insurance. Both can be interest-bearing for some extra earnings.

Pros

  • No cap on deposits. Unlike other business checking accounts, BlueVine doesn’t limit how many free deposits you can make each month.
  • Free plan option. With Bluevine Standard, there are also no fees for monthly maintenance, incoming wires or overdraft fees. You can also earn up to 2% APY on your balance up to $250,000 by meeting activity requirements.
  • High interest. Get a whopping 4.25% interest on your account balance with the paid plan Premier, and you can also waive the $95 monthly fee by meeting some requirements.
  • Software integrations. You can sync Bluevine up with QuickBooks Online, Wave, Freshbooks, PayPal, Stripe and more.

Cons

  • Fee for cash deposits. BlueVine is one of the only online banks that accepts cash deposits, but you’ll pay a $4.95 fee to the retailer when you do it.
  • No savings account options. Bluevine doesn’t offer any other bank accounts, but considering its flagship account earns 4.25% APY, this may not be a dealbreaker.

Discover

Best bank for minimal fees

Your checking, savings, credit card, IRA, CD, money market, student loan and personal loan accounts can all be fee-free with Discover.

Pros

  • No fees. Choose from a range of financial products with $0 fees.
  • Easy ATM access. Over 60,000 ATMs come without Discover fees.
  • Rewards. Earn 1% back on up to $3,000 purchases per month with your debit card.

Cons

  • One branch. Discover has one location in Greenwood, Delaware. Unless you live near this branch, you’re limited to phone and online support.
  • High minimums for some accounts. You need at least $2,500 to open a money market or CD, which is higher than the competition.

Capital One Bank logo

Capital One

Best bank accounts for teens

Capital 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.

Pros

  • Earns interest. Both of Capital One‘s checking accounts earn 0.1% interest on all balances.
  • Perks for teens. The Capital One Money account allows teens to set savings goals and track their spending straight from the bank’s mobile app.
  • Large ATM network. Use your debit card for free at over 94,000 Capital One and Allpoint ATMs nationwide.

Cons

  • Overdraft fees. If you’re not enrolled in overdraft protection, you’ll pay $35 each time you overdraw on your account.

Best banks for savings accounts

These banks and credit unions offer straightforward savings accounts with low fees and competitive interest rates:

American Express

Best bank for savings account rates

You may think of credit cards when you hear of American Express, but its High Yield Savings account has one of the best rates in the country. You’ll also enjoy $0 monthly fees and you only need $0 to open the account.

Pros

  • Earn 4.30% APY.
  • $0 monthly fees and $0 minimum opening deposit.
  • 24/7 customer service.

Cons

  • No ATM access.
  • No in-person support.

PNC Bank logo

PNC Financial Services Group

Best bank for budgeting

PNC 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.

Pros

  • Strong APYs. Interest rates range from 1.75% to 1.90% depending on which account you choose.
  • Management tools available. Virtual Wallet is a checking and savings account in one that allows you to strategically organize and keep track of your money.
  • Sign up bonuses. Open a Virtual Wallet account and get a $100, $200 or $300 bonus.

Cons

  • Limited availability. Anyone in the US can open a Virtual Wallet account, but you must live in a state with a PNC Financial Services Group branch to open a High Yield Savings account.
  • Monthly fees. Some of PNC Financial Services Group‘s savings accounts have monthly fees, but you can avoid them by keeping a monthly balance or setting up auto transfers.

Synchrony Bank logo

Synchrony

Best bank for ATM access

Synchrony 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.

Pros

  • Strong APY. Earn 4.75% APY with a High Yield Savings account and up to 5.25% APY on CDs.
  • Optional ATM card. The Synchrony High Yield Savings account comes with an optional ATM card that lets you withdraw money for free at any ATM nationwide. But you’re still subject to ATM operator fees.

Cons

  • No branches. This is a fully-only bank, so you can’t visit a branch for in-person support.
  • Small product selection. It offers one savings account, one money market account and a handful of CDs.
  • Difficult cash deposits. You either have to mail a check or money order to deposit cash since Synchrony is an online bank.

Marcus

Marcus

Best for CD rates

Marcus Online Savings is an online bank offering up some of the best CD rates in the nation. You’ll also find relatively low opening deposits, making this bank a win for anyone who wants to lock in a competitive rate.

Pros

  • Several term options. Marcus CDs start at six months with a 5.1% APY and go up to six years with a 4% APY.
  • 10-day CD rate guarantee. This guarantee means you’ll automatically get bumped up to a higher interest rate if APYs increase within 10 days of funding your account.
  • Marcus no-penalty CD. Its 13-month CD earns a competitive 4.6% APY and lets you make penalty-free withdrawals after seven days of opening.

Cons

  • No branches. Marcus is entirely online, which means you can’t visit a branch for support.
  • No partial withdrawals. You’ll have to withdraw your full balance and close out your account if you need to access funds before your CD matures.

HSBC

Best bank for savings account rates

HSBC 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.

Pros

  • Account incentives. HSBC Premier savings account holders can enroll in a rewards program and gain exclusive access to HSBC perks.
  • 24/7 customer service. Customer support is available weekly by live chat.

Cons

  • Slow customer service. This bank has 24/7 customer service but many customers complain about sluggish wait times.

Best banks overall

These institutions are known for offering strong banking products across all categories: checking, savings, CDs and more.

Chase

Best for signup bonuses

Chase has plenty of enticing signup bonuses to get you in the door, but monthly fees and low APYs may counteract the upfront cash. Before signing up, review the terms and conditions of the account to make sure you can comfortably meet any minimum requirements.

Pros

  • Sign up offers. Get $200 when you open a Chase Total Checking® account with direct deposit, $300 when you open a Chase Business Complete Banking® with qualifying activities and more.
  • Convenience. Chase has over 15,000 ATMs and 4,700 branches across the US. You can also manage all your Chase accounts, credit cards and loans in one place using the mobile app.

Cons

  • Low interest rates. Chase does a good job of getting people in the door with attractive signup bonuses, but some of its underlying accounts only earn around 0.01% APY.
  • Monthly service fees. Most accounts have service fees of $5 to $25 or more.
  • Below-average customer service. Chase is one of the four largest banks in the nation, which means you may get stuck with long wait times if you need assistance.

Ally Bank

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.

Pros

  • Interest rates. Ally’s checking option comes with up to a 0.25% interest rate, and its high-interest savings account has a 4.25% APY.
  • Low fees. Benefit from $0 monthly maintenance and account opening fees.
  • Financial education. Ally has a comprehensive learning center on its website that teaches customers how to establish good financial habits.

Cons

  • No branches. This bank operates entirely online, so it’s hard to deposit cash or bank in person.
  • Withdrawal limits. You can’t withdraw more than $1,000 a day from your Ally checking account.
  • Limited product selection. Ally doesn’t offer any business accounts, credit cards or personal loans.

Bank of America

Best for a brick and mortar bank

Bank of America is dependable and accessible. Plus, it offers a huge selection of banking products and special features like cashback rewards and automated savings.

Pros

  • Round up. The Keep the Change Savings Program takes the difference between each debit purchase and its value rounded up to the nearest dollar, then stashes money in your savings account.
  • Cashback deals. Select cashback deals every month with BankAmeriDeals and get rewarded for credit and debit purchases.
  • Wide suite. Bank of America offers checking, savings, CD, business, credit card, home loan, auto loan and investing accounts.

Cons

  • Account fees. All checking accounts have monthly fees, but BoA waives them if you meet certain requirements.
  • Low interest rates. You’ll find much higher rates with online-only banks.

Alliant Credit Union

Best credit union

An almost-completely online credit union, Alliant offers transparent services and financial education resources for its members.

Pros

  • Accessible ATMs. With 80,000 $0-surcharge ATMs, Alliant has one of the largest networks.
  • No minimum deposits. Many accounts don’t carry a minimum deposit.
  • Solid interest rates. Savings can earn 1.65% APY, and checking can earn 0.45% APY.
  • Easy membership eligibility. Anyone can join Alliant if they make a $5 donation to Alliant’s partner charity, Foster Care to Success.

Cons

  • Few branches. Alliant only has two branch locations, so in-person support is limited.

EverBank logo

EverBank

Best bank for small businesses

EverBank 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.

Pros

  • Large ATM network. EverBank has over 80,000 free ATMs through the Allpoint and MoneyPass networks.
  • Low fees. Some accounts don’t have associated monthly fees. Others have fees you can avoid by maintaining a certain account balance.
  • Earns interest. The only two accounts that aren’t interest bearing are the EverBank Business Checking and Business Analysis accounts.

Cons

  • $1,500 to open. Every EverBank business account has a minimum $1,500 opening deposit.
  • Limited free transactions. There’s a cap on how many free transactions come with each checking account. Once you hit that limit, you’ll pay a small fee for each deposit.

How do I find the best bank for me?

Ideally, you’ll want to manage all of your finances through one bank. This can simplify your life and increase the likelihood you’ll qualify for loyalty rewards and discounts. To find the best bank for you consider the following:

  • Products. Compare bank accounts offered by the institutions you’re considering. Look at product fees, APYs and requirements to see if they fit your financial needs and goals.
  • Interest rates. Some banks are still only paying interest rates well below the national average of 0.46% APY for savings and 0.07% APY for interest-bearing checking accounts. Ideally, you’ll want to find an account that offers a rate higher than the average. You’ll find that the best high-interest savings accounts are at 3% APY and above.
  • Accessibility. If you depend on in-person banking or making ATM deposits and withdrawals check the ATM network to see how many branches and free ATMs are offered. Some banks let you use out-of-network ATMs without tacking on an extra fee.
  • Online vs in person. While most traditional banks offer the ability to bank online and through a mobile app, those who favor an intuitive digital banking experience will likely be best suited with a digital bank. If you prefer in-person banking, look at banks with a large national presence and ATM network. If you prefer a mix of both, look at online banks.
  • Fee structure. If you want to keep your fees to a minimum, the best bank might be a credit union. Credit unions don’t need to charge fees for everything, largely because they don’t have the costs of keeping shareholders happy like bigger banks do. Many banks also provide low- or zero-fee accounts — but the requirements tend to be more specific, while credit unions typically offer them more broadly.
  • Sign up bonuses. Some banks turn to new account bonuses as a way to attract new customers, a value often worth anywhere from $150 to $300. But you’ll also want to make sure that underneath the bonus, the account is still worth it. After the bonus expires, you’ll be stuck with the account. Check out which banks are offering bonus offers, and consider whether the account fits into your normal spending habits.
  • Reputation. Check customer reviews and ratings to get a sense of a bank’s reputation. Ask friends and family if they’ve used the bank before and be mindful of any red flags.

      3 bank and credit union alternatives

      If you’re trying to get away from traditional banks and credit unions, here are some alternatives to consider:

      1. Digital banks. These institutions offer fully digital bank accounts on the cutting edge of technology. Most come with budgeting tools, early direct deposits and ways to automate your savings.
      2. Cash management accounts. Accounts like Betterment Cash Reserve are offered by brokerage firms and integrate seamlessly with your investment account. They’re typically FDIC insured through a partner bank.
      3. Prepaid cards. With a prepaid card, you can spend money in real-time without having to worry about overdrawing your account or racking up credit card interest. They’re also a good option for those with no credit or bad credit.

      11 top banks in the US

      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.

      BankHeadquartersNumber of offices
      Bank of AmericaNorth Carolina4,475
      JPMorgan ChaseNew York5,146
      Wells FargoCalifornia5,875
      CitiNew York717
      US BankMinnesota3,131
      Capital One Virginia605
      PNCPennsylvania2,481
      Charles SchwabCalifornia2
      Morgan StanleyNew York3
      BB&TNorth Carolina1,971
      Suntrust BanksGeorgia1,243

      11 top credit unions in the US

      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 unionNumber of offices
      Navy Federal330
      SECU365
      PenFed50
      BECU57
      SchoolsFirst52
      Golden 173
      Alliant2
      America First128
      First Tech43
      Security Service FCU67
      Suncoast Credit Union67
      Back to top

      Best banks and credit unions by state

      Use this list to compare top banks and credit unions in New York and Texas:

      5 types of financial institutions

      Banks come in all shapes and sizes, so it’s best to familiarize yourself with the different types of financial institutions to choose from.

      Type of institutionFeaturesDrawbacksPopular banks
      Traditional large bank
      • Large ATM network
      • Varied financial products
      • Physical branches with online and mobile banking
      • Lower interest rates
      • More fees
      Community bank
      • Strong customer service
      • Lower fees
      • Slow to adopt new technologies
      • Limited network
      • Shorter banking hours
      • First Citizens Community Bank
      • First Premier Bank
      • HighPoint Community Bank
      Online bank
      • Higher rates
      • Lower fees
      • Limited physical locations
      Digital bank
      • Up-to-date digital technologies
      • Low fees
      • Higher rates
      • All-in-one banking accounts
      • Offer limited products
      • No physical locations
      • Might be difficult to deposit cash
      Credit union
      • Strong customer service
      • Member perks
      • Lower fees
      • Also insured but through the National Credit Union Association (NCUA)
      • Limited branches
      • Slow to adopt new technologies
      • Membership eligibility requirements

      Online vs. Brick-and-mortar: Which is better?

      Online-only banks generally offer a better mobile-banking experience and they can afford to offer more attractive interest rates because they have lower operating expenses than brick-and-mortar banks. On the other hand, physical banks make it easier to deposit cash and access ATMs. Plus, they allow you to meet with bank tellers and bank managers face-to-face.

      Ultimately, online banks and brick-and-mortar banks each have appealing features and choosing between them boils down to your specific needs and expectations. But if you want the best of both, look for an online bank that offers many ways for you to get a hold of customer service and allows you to deposit cash and offers mobile check deposits.

      Should I use a major bank or a smaller one?

      It’s all about finding the one that’s best for you. Consider these pros and cons of big banks when making a decision.

      Large banksSmaller banks
      More products and services
      National presence
      Lower fees
      Better customer service
      Back to top

      Which bank is the safest?

      No single bank stands out as the safest bank in the industry, but many banks offer a similar level of security. In general, banks that offer the following features should be considered safe.

      • FDIC insurance. All reputable banks are backed by the Federal Deposit Insurance Corporation for at least $250,000.
      • 256-bit encryption. Most banks have websites and apps that protect your personal data using this level of security.
      • Multifactor authentication. The best banks and credit unions require more than simply a password to log in to your account.

      Bottom line

      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 start, use our guide to bank accounts to figure out differences between accounts so you can understand what will work best for your situation or compare the best savings or checking accounts to find one that suits your needs.

      Compare even more bank accounts

      Compare popular banks based on their interest rates, minimum opening deposits, ATM networks and ATM fees.

      Name Product Fee Minimum deposit to open Annual Percentage Yield (APY) Offer
      BMO Smart Advantage Checking
      Finder Rating: 4.7 / 5: ★★★★★
      Bonus
      BMO Smart Advantage Checking
      $0 per month
      $25
      N/A
      Earn a $400 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 120 days.
      Earn a $400 cash bonus after $4,000 deposits in the first 120 days. Pay $0 monthly fees and no minimum balance. Access a large nationwide network of free ATMs. Member FDIC.
      Cash Card by Cash App
      Finder Rating: 4.4 / 5: ★★★★★
      Cash Card by Cash App
      $0 per month
      $0
      N/A
      The Cash App Cash Card lets you pay for goods and services both online and in stores using your Cash App balance. Enjoy features like ATM access, direct deposit, instant discounts at select stores and a customizable card.
      Chime Checking account
      Finder Rating: 4.8 / 5: ★★★★★
      Chime Checking account
      $0 per month
      $0
      N/A
      Save easily and access your paycheck up to 2 days early with direct deposit. Pay $0 monthly fees, and no minimum balance is required. Access 24/7 support and get daily balance and transaction alerts. FDIC insured.
      Revolut
      Finder Rating: 4.8 / 5: ★★★★★
      Revolut
      From $0 per month
      $0
      4.25% on balances of $0+
      3.25% on balances of $0+
      Use Revolut Premium for three months for $0 when you sign up for Revolut. Just make one qualifying transaction with your Revolut card during the promotion period. Terms and conditions apply.
      Revolut is a global fintech that offers up to 40% off international transfers.
      SoFi Checking and Savings
      Finder Rating: 4.5 / 5: ★★★★★
      Bonus
      SoFi Checking and Savings
      $0 per month
      $0
      4.60% on balances of $0+
      0.50% on balances of $0+
      1.20% on balances of $0+
      Get up to $250 cash bonus with qualifying direct deposit. Terms apply. This offer is available until December 31, 2023.
      Earn up to 4.60% APY on savings by meeting deposit requirements, and 0.50% APY on checking balances. Members without deposit requirements will earn 0.50% APY on both savings and checking balances. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Get up to $2M of additional FDIC insurance through a network of participating banks.
      Step
      Finder Rating: 4.4 / 5: ★★★★★
      Step
      $0 per month
      $0
      5.00% on balances of $0 to $250,000
      Build credit while earning 5.00% on savings and cashback rewards – all with $0 monthly fees and no APR.
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      $
      Name Product Account type Annual Percentage Yield (APY) FDIC or NCUA insured amount Minimum balance to earn interest Minimum deposit to open Offer Estimated total balance
      UFB Secure Savings
      Finder Rating: 4.7 / 5: ★★★★★
      UFB Secure Savings
      Traditional savings,Custodial account

      5.25%

      Up to $250,000
      $0
      $0
      $1,052.50
      Bread Savings™ High-Yield Savings
      Finder Rating: 4.3 / 5: ★★★★★
      Bread Savings™ High-Yield Savings

      5.15%

      Up to $250,000
      $0
      $100
      $1,051.50
      SoFi Checking and Savings
      Finder Rating: 4.6 / 5: ★★★★★
      Bonus
      SoFi Checking and Savings
      Traditional savings,Checking

      4.60%

      0.50%

      1.20%

      Up to $250,000
      $0
      $0
      Earn up to $250 with a qualifying direct deposit, terms apply. This offer is available until December 31, 2023.
      $1,046
      American Express® High Yield Savings Account
      Finder Rating: 4.9 / 5: ★★★★★
      American Express® High Yield Savings Account
      Traditional savings

      4.30%

      Up to $250,000
      $1
      $0
      $1,043
      Wealthfront Cash Account
      Finder Rating: 4.6 / 5: ★★★★★
      Wealthfront Cash Account

      5.00%

      Up to $8M FDIC insurance
      $1
      $1
      $1,050
      Valley Direct High Yield Savings Account
      Finder Rating: 4.6 / 5: ★★★★★
      Valley Direct High Yield Savings Account
      Savings app

      5.25%

      $250,000
      $0.01
      $1
      $1,052.50
      loading

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