5 Best Banks and Credit Unions in New York | finder.com

Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Best banks and credit unions in New York

The top five places to store your money in the Empire State.

Updated

Fact checked
New York is known for its mouthwatering pizza, contrasting landscape and towering skyscrapers. But what about its banks? When you live in a place known as the financial capital of the world, there’s no shortage of options. Here’s our list of the best five banks in New York.

Chase: Best for ATM access

Not only is Chase the largest bank in the US, but it’s also headquartered smack dab in New York City. This means you’ll be hard pressed to find a bank that has more branch locations and brand-name ATMs than this leading giant. For these reasons, we’ve dubbed Chase Bank best for accessibility.

Accounts
Chase offers a range of products to meet most of your banking needs, including personal and business checking, savings and CDs. The best part? Most of these accounts have attractive sign-up bonuses for first-time customers and a low, $0 opening deposit. But as with most traditional banks, its APYs are low and most accounts have monthly fees. Chase is a solid choice if you want the security and accessibility of a large financial institution, but it’s not ideal if you’re after high interest rates.
Customer experience
Chase has more than 4,700 branches and 16,000 ATMs across the country. It pairs its vast network with an intuitive site and mobile app that makes it easy to manage your money wherever you are. You can stay on top of your credit, view past transactions, get a personalized snapshot of your spending and use Chase Autosave to stash away money for the future — all from the mobile app. If you have multiple accounts with Chase, such as an auto loan, credit card or mortgage, you can also view those in one succinct place.

It has a robust mobile app, which allows you to e-deposit checks, pay bills, manage your transaction history and more.

HSBC Bank: Best for competitive interest rates

HSBC is an international bank with its US headquarters right in New York City. It offers a range of accounts for personal and business use, but it’s HSBC Direct accounts are especially attractive thanks to their high APYs.

Accounts

If you’re looking for high APYs, you may be interested in the HSBC Direct accounts. The Direct Savings account earns a whopping 0.15% APY and Direct CDs earn up to 0.3% depending on the term.

Its regular accounts have some added perks too. New customers can enjoy cashback bonuses on direct deposits when they open an HSBC Premier or Advance Checking account. And most accounts have low opening deposit requirements. There are monthly fees to watch out for, but you can avoid them when you maintain certain direct deposit or balance requirements.

Customer experience

HSBC has about 220 branches in 10 states and a handful of ATMs to boot. It offers around the clock customer support by live chat. Plus, you can get assistance by phone and Twitter.

M&T Bank: Best for businesses

You’ll find a variety of over 20 checking, savings and CD options at M&T Bank. But businesses may find this institution extra appealing thanks to its tiered accounts and concise fee structures.

Accounts

Consumers can choose from four checking and three savings accounts, along with a wide range of CDs. Some are free and others earn interest. There are some monthly fees to watch out for, but you can avoid them when you meet certain transaction thresholds, direct deposit or minimum balance requirements.

Its business accounts are where M&T really shines. As a business owner, choose from seven checking accounts, including some just for small businesses, nonprofits, medical professionals and those with professional service firms. There are monthly fees to watch out for. Some are unavoidable, but you can avoid others when you maintain a certain balance.

Customer experience

M&T Bank has 1,600 ATMs and over 690 locations in Florida, Maryland, New Jersey, New York, Pennsylvania, Virginia, Washington, DC and West Virginia. Customer service is available weekly by phone and email and in-person during normal banking hours.

f511d5da-51b9-47a6-80d2-729c4d489471 logo

TD Bank: Best for locals

If you’re the type of person who likes to bank face to face, look no further than TD Bank. Many of its branches are open weekly, giving the ultimate flexibility to bank when and how you need it.

Accounts

Most TD Bank checking and savings accounts have low opening deposits, although you may have to maintain a higher balance to earn interest. APYs vary by location, so you’ll need to hop on the bank’s website or call customer service to see what you qualify for. On the bright side, TD Bank offers relationship rates, so you’ll likely earn more interest when you open multiple accounts.

Customer experience
TD Bank puts an emphasis on convenience. It has over 1,300 branches and 1,900 ATMs scattered across the East Coast and Canada. Plus, it offers 24/7 customer service and extended banking hours on the weekends.

pentagon Logo

Pentagon Federal Credit Union: Best for military members

As home to five military bases, New York has no shortage of service men and women. If you’re affiliated with the military and looking for a new bank, PenFed may fit the bill. It has a concise list of product offerings and military-specific resources.

Accounts

PenFed is known for its high interest rates and low monthly fees. The Premium Checking account earns 0.2% to 0.5% APY depending on your account balance. Savings accounts and CDs earn up to 1.4%. You can open most checking and savings accounts with as little as $5, but you need at least $1,000 to open CDs.

Customer experience

PenFed doesn’t participate in shared branching. But members get access to 68,000 ATMs nationwide — many of which are located in Target, CVS, Walgreens, Circle K and Safeway. Customer service is available on weekends and it has an intuitive mobile app with solid user ratings.

This credit union has an entire deployment guide on its website where you can download essential forms and get step-by-step guidance on how to get your affairs in order before you leave. As a credit union member, you also get access to special discounts for auto, finances, home and retail.

How we chose the best banks in New York

To find the best banks in New York, we researched over 20 financial institutions to see which ones are headquartered in or primarily serve the Empire State. From there, we examined factors like account types, overall fees, accessibility, customer service and special features to narrow down our list to the top five banks.

Compare checking accounts from the best banks in New York

Name Product APY Minimum deposit to open ATMs Out-of-network ATM fee
Chase Total Checking
Finder Rating: 2.8 / 5: ★★★★★
Chase Total Checking
N/A
$0
Access to 16,000 ATMs and more than 4,700 branches nationwide
$2.50
Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit within 60 days of opening your account. Chase's simplest checking account is easy to use and gives you access to 16,000 ATMs and more than 4,700. Available online nationwide except in Alaska, Hawaii and Puerto Rico.
HSBC Advance Checking
Finder Rating: 2.8 / 5: ★★★★★
HSBC Advance Checking
0.01%
$0
Surcharge-free HSBC ATMs nationally and internationally, plus up to four rebates a month for using non-HSBC ATMs in all US states except New York
Get up to $270 (max. $50 per month) for eligible new customers who open an HSBC Advance checking account. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.
HSBC Premier Checking
Finder Rating: 2.7 / 5: ★★★★★
HSBC Premier Checking
0.01%
$1
Free to use at all ATMs in the US
$0
Get a 3% cash bonus, up to $600 (max. $100 per month) during first six months after account opening. Must open HSBC Premier checking account through offer page by September 30, 2020, and set up qualifying direct deposits into the new account. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.
TD Beyond Checking
Finder Rating: 2.3 / 5: ★★★★★
TD Beyond Checking
Up to 0.03%
$0
1,900 ATMs across the country and Canada
$0
A checking account that offers interest plus three ways to waive the monthly fee, two overdraft paybacks a year and no ATM fees with a $2,500 balance.
TD Convenience Checking℠
Finder Rating: 2.7 / 5: ★★★★★
TD Convenience Checking℠
N/A
$0
1,900 ATMs across the country and Canada
$3
Offering digital wallet compatibility, free Zelle transfers, TD rate discounts and no fees for students and young adults age 17 to 23. But the $15 monthly maintenance fee could chip at your funds.
loading

Compare up to 4 providers

Bottom line

New York has no shortage of places to park your cash. If you’re in the market for a new bank or credit union, look for one that has the accessibility and features you need to maintain control of your money.

Frequently asked questions

More guides on Finder

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site