What you consider the “best bank” may not be what your neighbor considers the best. We’ve rounded up the best banks to bank with in the US sorted by individual needs, including SoFi®, Chase, Revolut and Bluevine.
SoFi is an online bank bursting with banking, lending and investing services. SoFi’s hybrid Checking and Savings account is its crowning jewel, with no monthly service fees and high APYs. Earn a decent 0.50% APY on your checking balance with no requirements and up to 3.80% APY on savings. To earn the highest savings rate, you can either become a Plus member by setting up direct deposit, or deposit at least $5,000 each month, or pay $10 per month for the Plus membership. For investors, SoFi’s Invest brokerage account has no minimums and offers commission-free trading where you can trade stocks, options, exchange-traded funds (ETFs), mutual funds and more. SoFi’s lending options are vast too, offering personal, business and even student financing. And SoFi offers very high FDIC insurance coverage of up to $3 million. But as an online bank, SoFi doesn’t have any branches, though it does accept cash deposits at Green Dot ATMs for a $4.95 fee.
Pros
No monthly fees on banking
Investing and lending
High APYs on checking and savings
High FDIC insurance
Cons
$4.95 fee for cash deposits
No physical branches
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savingsis offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults)and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00%APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
Alliant Credit Union: Best credit union
If you’d rather bank with a not-for-profit institution, credit unions are probably your answer. Headquartered in Chicago and a mostly online institution, Alliant Credit Union has lenient membership requirements and great bank accounts. If you don’t live in one of its eligible communities, you can become a member of the Alliant Credit Union Foundation by making a one-time $5 donation. Alliant features competitive interest rates, low fees, a large ATM network and out-of-network ATM reimbursements. It also has teen checking and kid savings accounts, lending and investing services and CDs with high APYs. Its interest-bearing checking earns 0.25% APY with no monthly or overdraft fees, and the high-yield savings earns 3.1% APY with electronic statements. However, Alliant doesn’t offer business banking.
Pros
No monthly fees
High-yield checking and savings
Teen checking and kids’ savings
Investing and lending services
Out-of-network ATM reimbursements
Cons
Some membership requirements
No business banking
Varo: Best for cashback checking
Varo offers one of the highest and best cashback debit cards out there. Earn up to 6% cash back with select brands like Kohl’s, Popeyes, McDonald’s and Macy’s, earning up to $50 per billing cycle. Once you earn $5, Varo automatically deposits the cash back into your checking account. The checking account has no monthly fees, balance requirements or overdraft fees, either. Aside from the cashback debit card, Varo also offers a credit-building card called Varo Believe, a high-yield savings account that can earn up to 5% APY on up to $5,000 and cash advances if you meet deposit requirements. But as an online bank, you won’t have access to physical branches, and it doesn’t support joint accounts.
Pros
Up to 6% cash back with Varo debit and Varo Believe card
No monthly fees on checking
High-yield savings
Cash advances and credit-building
Cons
No joint accounts
No physical branches
UFB Direct: Best for savings
UFB Direct consistently has some of the highest rates on savings, offering up to 4.01% APY with its UFB Portfolio Savings account with no monthly fees or minimum balance requirements. It also offers a money market account with the same high APY of 4.01%. These rates are nearly 12 times higher than the national average rate for savings accounts, which sits at just
0.38%. However, UFB is an online banking platform and has no physical branches, but you can make cash deposits at select ATMs.(1)
Pros
High 4.01% APY on savings and MMA
No monthly fees or opening deposit required
No APY tiers
Cons
No checking accounts
Online only
First Internet Bank: Best for CDs
The first online bank, First Internet Bank offers very high APYs on its various CD terms. There’s a $1,000 minimum opening deposit with rates as high as 4.4% APY on a 12-month CD. Like other banks, First Internet Bank charges early withdrawal penalties, and there are no monthly fees for these deposit accounts. First Internet Bank also offers personal and business checking and savings accounts, kids savings, health savings accounts and SBA loans. But as an online bank, you’ll get no in-person support. Also, plan on needing an opening deposit for its accounts, such as $100 for Interest Checking or $1,000 for CDs.
Pros
High APYs
Personal and business banking
SBA loans, health savings and kids’ accounts
Out-of-network ATM reimbursements
Cons
Often requires opening deposits for accounts
No physical branches
Chase: Best for credit cards
The biggest bank in the US with over $3 trillion in assets, Chase is undoubtedly one of the better banking options if you want variety, branch access and great credit cards. It offers dozens of credit cards, including personal and business lines. Some of the best Chase credit cards include the Chase Freedom Unlimited®, Chase Freedom Flex℠, Chase Sapphire Reserve® and Chase Sapphire Preferred® Card. The Amazon credit cards are also issued by Chase. Many of its credit cards don’t have annual fees, and its Visa and Mastercard cards are more widely accepted than Amex. You’ll likely need a good credit score of at least 670 to qualify for most of Chase’s cards, but its cashback, travel and business cards are top-tier. And unlike the banks on this list, Chase has a large branch network that provides in-person support when you need it. It also has a variety of personal and business banking options, as well as lending and investing services.
Pros
Biggest bank in the US
Various personal and business credit cards
Cashback, travel and balance transfer cards
Large branch network
Banking, lending and investing services
Cons
Often requires good credit to qualify for credit cards
Monthly fees on some bank accounts
Greenlight: Best for kids’ banking
Greenlight is one of the best kids’ banking options out there. With a starting cost of $5.99 per month, you can get Greenlight Core, which features five kids’ debit cards, strong parental controls, savings rewards, financial literacy education, chores and allowance features and much more. Greenlight’s pricer plans offer cashback rewards, higher savings rewards, access to its investing platform and more security features. The downside with Greenlight is the unavoidable monthly fee, but compared to other kids’ banking options, its cost is well in line with top competitors, and it has more features than most other options.
Pros
Strong, custom parental controls
Up to five kids’ cards per plan
Chores and allowance, financial education and investing
Savings rewards and cashback rewards
Cons
Best perks require higher-cost plan
Unavoidable monthly fee
Revolut: Best for travelers
Revolut offers international personal and business bank accounts. For both its personal and business options, there are plans with no monthly fees or opening deposit requirements. Revolut’s multi-currency accounts are designed for global spending, featuring monthly allowances for free currency exchanges, unlimited virtual debit cards and savings with high APYs. Also, having a personal Revolut account unlocks the fee-free Revolut <18 kid account. But as Revolut is an online fintech, it doesn’t have any physical branches, and to get the best APYs and perks, you’ll need a paid plan.
Pros
Multi-currency account
Free plan options
High APYs
Kids banking with personal account
Unlimited virtual cards
Cons
No physical branches
Best perks require paid plan
Bluevine: Best for business checking
Bluevine Business Checking is a top business account. The Standard plan has $0 monthly fees, and you’ll get high $3 million FDIC insurance, unlimited transactions, and earn up to 1.5% APY with activity requirements. Its two other plans, Plus ($30/month) and Premier ($95/month), have waivable monthly fees and higher APYs than Standard, such as Premier’s 3.7% APY on balances with no transaction or balance requirements. Additionally, Bluevine supports a lot of software integrations, including Cash App, Square, Venmo and Xero, and you can create unlimited custom invoices with payment links. There are barely any cons with Bluevine, except the 2.9% transaction fee to pay bills with a credit card, and it doesn’t have any branch locations.
Pros
$0 Standard plan
Unlimited transactions
Earn 1.5% to 3.7%, depending on plan and activity
Various software integrations
Cons
No branch locations
2.9% bill pay fee with a credit card
Methodology: How we chose the best banks and credit unions
Finder’s banking experts compare hundreds of banks, credit unions and fintechs to find the best options. We use a variety of methodologies designed for different categories.
Finder’s banking experts analyze more than 165 checking accounts before narrowing down the best. We factor in the following criteria:
$0 monthly fee, or option to waive the monthly fee
$0 minimum opening deposit
No strict membership requirements
Nationwide availability
Finder’s banking experts research and analyze over 41 business checking accounts to find the best ones that offer perks and features helpful to businesses, such as software integrations, tax tools, interest, transaction limits and ATM access. We weigh these features against the account’s fees and opening deposit requirements.
We also consider the following factors when choosing the best list:
Up to $15 monthly fees as long as there’s an easy way to avoid the fee, such as:
Balance requirements of no more than $2,000
Up to $100 minimum opening deposits
For interest-bearing business checking accounts, the APY must occur on high balances and at least $2,500 a month in deposit requirements
When judging the best savings accounts, we look at major factors, including minimum opening deposits below $100, APYs and whether there are steep balance requirements to earn them. We choose accounts with the highest APYs and fewest requirements for our best list. When accounts are similar, we consider secondary features, such as additional fees, balance limitations or additional banking perks like optional ATM cards.
Finder’s banking experts analyze CDs from over 65 institutions to choose our best picks. We look at accounts that meet the following criteria.
For our best overall highest CD rates list, we calculate the average of each bank’s 1-, 3- and 5-year terms when comparing APYs. The resulting average must be above 4% APY. For our best rates by term, we look at the highest rates.
Minimum opening deposits must be no more than $1,500
No membership requirements, unless it’s easy to join
Must be available in most states
Finder’s banking editors research and compare more than 35 cards for kids. We rate kids’ debit cards using slightly different criteria to account for differences between checking accounts and prepaid debit cards for kids. We narrowed down our list to accounts that meet the following factors:
Monthly fee under $5.99
Accepts wide age range under 18
Features
Large ATM network or no ATM fees for checking accounts
Chore and allowance features
Strong parental controls with spending limits, alerts or overdraft protection
Companion app for monitoring
Availability
No strict membership requirements
Ability to open the account online
How do I find the best bank to bank with?
The best bank has all the products and services you’ll want — at an affordable price. To help narrow your search, keep these factors in mind:
Products and services. What do you need from a bank? Checking and savings, kids’ banking, lending, investing or something else entirely? Some banks can do it all, but the right choice may come down to what a bank does best.
APYs. You’ll find that the best high-interest savings accounts are at 5% APY or higher, such as UFB Direct’s savings account. The national average for savings accounts is
0.38%, so anything above that means you’re probably getting a great rate.
ATM and branch access. 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.
Fees. Plenty of free fee bank accounts skip the monthly maintenance fees entirely, including SoFi. Additionally, credit unions tend to skip monthly fees.
Account bonuses. If you’re switching banks, you may as well compare bank account bonuses. Most account or signup bonuses have some sort of deposit requirement, such as depositing $100 within a month or setting up direct deposit. But if you’re already going to move all your cash to a new account, you may as well get some bonus cash out of it.
Reputation. Check customer reviews and ratings to get a sense of a bank’s reputation. Just take some reviews with a grain of salt — most people leave bank reviews if they’ve had a bad experience. We tend to locate fuller and more realistic customer feedback on places like Reddit or Trustpilot.
Online banks vs. physical banks: Which is better?
Online banks are better if you want high savings APYs and fewer fees. Since online banks don’t have to pay to manage physical branches, they can pass those savings onto their customers by offering deposit accounts with high APYs on savings products and often don’t charge monthly maintenance fees on deposit accounts.
On the other hand, physical banks are better if you handle cash and need to make regular deposits. Many online banks can’t accept cash deposits at all. Plus, brick-and-mortar banks have physical locations where you can meet with tellers face-to-face to resolve issues, talk about account options or handle wealth management services. Additionally, traditional banks like Chase or Wells Fargo generally offer more services, such as lending, investing, wealth management or business banking.
Ultimately, the choice boils down to your specific needs and expectations. If you haven’t been to a physical branch location in years, then you may as well go with an online bank for their higher APYs and affordable accounts. But if you want the best of both, look for an online bank that offers many ways to get a hold of customer service easily and accepts cash and mobile check deposits.
The main difference between banks and credit unions is credit unions are member-owned and not-for-profit organizations. Banks are for-profit institutions and owned by shareholders.
Credit unions are the better option if you want to bank with a local institution and support your local community. And compared to banks, credit unions tend to have fewer fees on accounts. The catch with credit unions is you’ll have to qualify for a membership, which typically means living in a community they serve.
If you want an institution with multiple products and services and a wide reach, a traditional bank might be the way to go. Big banks can make branches and ATM networks across the country and don’t have membership requirements.
In terms of safety, reputable credit unions and banks both have deposit insurance. A bank’s deposit account is covered under Federal Deposit Insurance Corporation (FDIC) insurance up to $250,000 per depositor. Credit unions have National Credit Union Administration (NCUA) insurance also up to $250,000 per depositor. There are also banks with much higher FDIC insurance thanks to a network of program banks, like SoFi, that offers up to $3 million in coverage.
Good banks for a checking account
Most banks offer at least one checking account — it’s a must-have product for any institution. The best checking accounts have no monthly fees, early direct deposit, wide availability and some sort of rewards, like interest or cash back.
The best banks for checking accounts include SoFi, Chime, Chase, Capital One and Varo.
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.
Deposit insurance. All reputable banks are backed by the FDIC for at least $250,000 in deposit coverage, and credit unions are backed by the NCUA.
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
When comparing top banks, consider the factors most important to your financial health. If you’re still not sure where to start, use our guide to bank accounts to figure out differences among 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.
For closer comparisons, see how banks stack up side by side:
Wells Fargo has one of the worst reputations among banks. It has a wide variety of checking, savings, credit cards and wealth management services, but it has paid millions of dollars in fines and penalties in the last few years alone. It also holds an F rating with the Better Business Bureau (BBB) and has seen thousands of customer complaints in the past three years.
Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio
Bethany's expertise
Bethany has written 459 Finder guides across topics including:
Varo Bank is a legitimate bank account with early direct deposit, cash back rewards and no monthly fee. See our full review here.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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