Inflation is impacting everyone’s finances, and choosing the right bank is more important than ever. If you’re looking to maximize your savings, minimize fees, or simply find a better banking experience, switching banks could be a smart move. But with so many options available, how do you choose the Best Bank In The Us for your specific needs?
This guide breaks down the top banks in the US, highlighting their strengths and weaknesses to help you make an informed decision. Whether you prioritize online convenience, branch access, high interest rates, or excellent customer service, we’ve got you covered.
Overview of the Best Banks in the US
Our team of personal finance experts at Bankprofits.net has rigorously reviewed numerous financial institutions to bring you our top recommendations for the best banks in the US. We’ve analyzed over 200 banks, considering factors like account options, fees, interest rates, customer service, and digital banking capabilities. Here’s a quick look at our top picks:
- Capital One: Best for a comprehensive checking account experience from a national bank.
- Chase: Best for customers who value a widespread physical branch network.
- Axos Bank: Best for a diverse selection of online banking accounts to suit various needs.
- Discover® Bank: Best for consolidating all your banking services in one place.
- Ally Bank: Best for maximizing savings and investment growth.
- Synchrony Bank: Best for high-yield savings accounts with competitive rates from a national brand.
- TD Bank: Best for exceptional customer service and convenient branch access.
- TotalBank: Best for maximizing returns with the highest CD interest rates.
- Barclays: Best for a leading high-interest rate on high-yield savings accounts.
Featured Bank Account Offers
Best Online Checking Account
Capital One 360 Checking
Start banking Capital One, Member FDIC
Capital One 360 Checking Account
Alt Text: Capital One 360 Checking Account online banking interface on a laptop, showcasing user-friendly design and accessibility.
Insider’s Rating: ⭐⭐⭐⭐⭐ 4.75/5
✅ Perks: Earn $250 bonus when you open a checking account using code CHECKING250 and receive at least 2 direct deposits of $500 or more within 75 days of account opening.
Fees: No monthly service fee
Annual Percentage Yield (APY): See website for details
Minimum Opening Deposit: $0
Bonus: $250
Pros:
- ✅ Earn interest on all balances
- ✅ No opening deposit or minimum balance
- ✅ No monthly service fee
- ✅ No foreign transaction fees
- ✅ Range of overdraft protection options
- ✅ Early direct deposit processing
Cons:
- ❌ No reimbursement for out-of-network ATM fees
- ❌ Limited phone customer service access
Insider’s Take: Capital One stands out as a robust bank overall, offering competitive interest rates on savings accounts and CDs.
Capital One 360 Checking Review
Product Details:
- Earn $250 bonus with promo code CHECKING250 and qualifying direct deposits.
- Access to over 70,000 free ATMs nationwide.
- Branches in select states (NY, LA, TX, MD, VA, NJ, DC).
- Interest compounded daily, paid monthly.
- FDIC insured.
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Best for Comprehensive Banking in One Place
Discover® Bank
Start banking Discover Bank, Member FDIC
Discover Bank Mobile App
Alt Text: Discover Bank mobile app interface on a smartphone, highlighting cashback rewards and account management features for users.
Insider’s Rating: ⭐⭐⭐⭐ 4.25/5
✅ Perks: Earn cash back rewards with your debit card on eligible purchases.
Annual Percentage Yield (APY): Varies by account
Minimum Opening Deposit: Varies by account
Pros:
- ✅ Debit card cashback rewards
- ✅ High interest rates on savings, CDs, and money market accounts
- ✅ Wide range of CD terms
- ✅ 24/7 customer service
Cons:
- ❌ No reimbursement for out-of-network ATM fees
Discover® Bank Review
Product Details:
- Online bank with no physical branches.
- Access to 60,000+ free ATMs.
- Interest compounds daily for interest-earning accounts.
- Member FDIC.
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Best for High Yield Savings and Checking with Bonus
SoFi® Checking and Savings (Member FDIC)
Start saving SoFi Bank, N.A., Member FDIC
SoFi Checking and Savings Account Interface
Alt Text: SoFi Checking and Savings digital interface displayed on multiple devices, emphasizing accessibility and modern design for online banking.
Insider’s Rating: ⭐⭐⭐⭐⭐ 4.75/5
✅ Perks: Earn up to a $300 bonus with qualifying direct deposits through 1/31/2026. Earn up to 3.80% APY on savings balances with direct deposit or qualifying deposit.
Fees: No monthly service fee
Annual Percentage Yield (APY): Up to 3.80%
Minimum Opening Deposit: $0
Bonus: Up to $300
Pros:
- ✅ Up to $2 million FDIC insurance
- ✅ High interest rates
- ✅ Higher interest rates with qualifying activities
- ✅ No minimum opening deposit
- ✅ No monthly service fees
- ✅ Bonus up to $300 with direct deposit (terms apply)
- ✅ Savings tools and features
- ✅ Early direct deposit
- ✅ Joint accounts available
Cons:
- ❌ Declined purchases for overdrafts over $50
- ❌ No reimbursement for out-of-network ATM fees
- ❌ Cash deposit fee at Green Dot locations ($4.95)
Insider’s Take: SoFi Checking and Savings is an excellent option for those comfortable managing both checking and savings in one account.
SoFi® Checking and Savings Review
Product Details:
- Sign-up bonus up to $300 with direct deposit.
- Up to 3.80% APY with direct deposit or qualifying deposits.
- FDIC insured up to $2 million through network banks.
- 55,000+ fee-free ATMs.
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Comparing the Best Banks in America
The best banks in America offer a combination of comprehensive financial products, excellent services, and strong customer satisfaction. Our list includes both online and traditional brick-and-mortar banks to cater to diverse banking preferences. Each of our top picks excels in specific areas, making them stand out for different banking needs. Let’s delve deeper into what makes each of these banks a top contender.
Capital One Bank: Top Pick for Checking Accounts
Capital One 360 Checking is consistently recognized as a leading checking account. It stands out for its fee-free structure, with no overdraft, foreign transaction, or monthly service fees, and no minimum deposit requirements. Capital One’s strong performance in customer satisfaction is further highlighted by its No. 1 ranking in J.D. Power’s U.S. National Banking Satisfaction Study.
While Capital One offers a vast network of over 70,000 fee-free ATMs, it’s worth noting that they don’t reimburse fees from out-of-network ATM providers, unlike some online banks. Their savings and CD rates are also notably above the national average, making Capital One a solid choice for multiple account holders.
Although primarily an online bank, Capital One maintains a physical presence with over 280 branches in seven states and around 50 Capital One Cafés. These Cafés offer a unique blend of banking services and café amenities, providing in-person support and financial coaching.
Capital One Bank Review
Chase Bank: Best Branch Network
Chase Bank boasts the most extensive branch network among national banks, surpassing Bank of America and Wells Fargo in terms of state presence. Their wide array of bank accounts and services, coupled with relationship perks for multiple account holders, make them a versatile choice. Chase is frequently featured in guides for best kids savings accounts and best national banks, underscoring its broad appeal.
One potential drawback is the monthly service fees that apply if account requirements are not met, and fees for out-of-network ATM usage. However, Chase’s expansive network of over 4,700 branches and 16,000 ATMs across the continental US provides unparalleled in-person banking access.
Chase Bank Review
Axos Bank: Best for Online Account Variety
Axos Bank distinguishes itself with a comprehensive suite of five distinct checking accounts, each tailored to specific financial needs. These include Essential Checking for early paycheck access, Rewards Checking for high APY, CashBack Checking for debit card rewards, Golden Checking for seniors (55+), and First Checking for teens (13-17).
While Axos offers a high-yield savings account, it requires a $250 minimum deposit, which is higher than some competitors. Earning the top-tier 3.30% APY on their Rewards Checking account involves meeting several criteria, including direct deposits, debit card transactions, and investment account balances.
As a purely online bank, Axos lacks physical branches but compensates with access to approximately 91,000 ATMs and generous out-of-network ATM fee reimbursements, ensuring convenient access to cash.
Axos Bank Review
Discover Bank: Best for All-in-One Banking
Discover Bank is an excellent choice for individuals seeking a single institution for all their banking, investing, and borrowing needs, including credit cards. Their debit card cashback program, offering 1% cash back on up to $3,000 in monthly purchases, adds significant value.
A key advantage of Discover is the absence of initial deposit requirements for checking, savings, CD, and money market accounts, making banking accessible to everyone. Despite having only one physical branch in Delaware, Discover provides access to over 60,000 ATMs through the Allpoint and MoneyPass networks.
Discover Bank Review
Ally Bank: Top Choice for Savings and Investing
Ally Bank consistently ranks as a top online bank due to its strong offerings in both banking and investment products. Their diverse savings options include high-yield savings accounts, money market accounts, traditional CDs, no-penalty CDs, and bump-up CDs, exceeding the savings product variety of most banks. Notably, Ally eliminates minimum opening deposits across all accounts.
The Ally Savings Account stands out with its innovative “bucketing” feature, enabling users to allocate savings towards specific financial goals, enhancing organization and motivation. Ally also offers a user-friendly investment platform, including a robo-advisor service, making it a strong contender for both banking and investment needs.
Ally Bank Review
Synchrony Bank: Best High-Yield Savings from a National Brand
Synchrony Bank leads the way in high-yield savings accounts from national brands, offering a competitive 4.00% APY. They feature no minimum deposit requirements and no monthly fees. Uniquely, their savings account comes with an ATM card, providing convenient access to savings, a feature uncommon among savings accounts.
Synchrony’s product offerings are focused on savings, CDs, and money market accounts, lacking a checking account option. While transfers to external checking accounts may take a few business days, the inclusion of an ATM card streamlines access to funds compared to many savings-only banks. As an online-only bank, Synchrony relies on the Plus, STAR, and NYCE ATM networks and offers up to $5 monthly reimbursement for out-of-network ATM fees.
Synchrony Bank Review
TD Bank: Best for Customer Service
TD Bank is recognized for its outstanding customer service, ranking third in J.D. Power’s 2024 U.S. National Banking Satisfaction Study. Many of their branch locations offer extended hours, open seven days a week, providing exceptional convenience for in-person banking needs.
While TD Bank’s ATM fees are comparable to other banks, their fee structure varies across checking accounts. The TD Bank Beyond Checking Account is the only account that waives non-TD Bank ATM fees, requiring a $2,500 balance for out-of-network ATM fee reimbursement. TD Bank operates over 1,100 branches across 16 states and approximately 2,600 ATMs, ensuring broad accessibility.
TD Bank Review
TotalBank: Best CD Rates
TotalBank, an online-only institution, is a leader in Certificate of Deposit (CD) rates, offering some of the most competitive rates nationwide. They provide high APYs across various CD terms, from 3-month to 5-year CDs, ranging from 4.11% to 4.51% APY.
TotalBank’s Online Money Market account also offers a compelling APY of up to 4.51% with no monthly service fees. However, TotalBank’s product range is limited to CDs and money market accounts. For those seeking comprehensive banking services, including checking and savings accounts, or other financial products like loans and credit cards, other banks on our list might be more suitable.
Barclays: Best High-Yield Savings Rates
Barclays Bank is a top contender for high-yield savings accounts, currently offering 4.15% to 4.40% APY on their Tiered Savings account, significantly exceeding the national average. Interest earnings are tiered based on account balance, and they also offer a $200 bonus for new savings accounts meeting specific qualifying activities (offer expiring 3/8/25).
Barclays also provides excellent CD rates with no minimum opening deposit. However, Barclays does not offer checking accounts, so customers requiring checking services will need to consider another bank for those needs.
Barclays Bank Review
The Importance of Choosing the Right Bank
Selecting the right bank is a crucial financial decision. Your choice should align with your individual financial goals and banking preferences. Consider whether you need a specific type of account or multiple banking products. Evaluate your preference for branch access versus digital banking convenience. You might also prioritize banking with institutions that align with your values, such as women-led or minority-owned banks.
For those who are unbanked due to ID requirements, options exist. Top banks for immigrants and non-U.S. citizens often accept foreign passports or Matricula Consular cards for account opening. To simplify your decision, we’ve outlined key features to consider when choosing a bank, based on your specific banking priorities.
Top Banks for Savings Accounts: Maximizing Your Returns
The best banks for savings accounts prioritize competitive interest rates. While the average savings account interest rate is around 0.41% APY, high-yield savings accounts offered by top banks significantly exceed this. Some banks even offer rates up to 5%. While smaller banks often provide higher savings rates, national brands like Synchrony also offer excellent rates.
Be mindful of potential fees, including monthly maintenance fees, excess transaction fees, paper statement fees, and inactivity fees. Many banks waive these fees under certain conditions, and some, particularly online banks, eliminate them entirely.
Best Banks for Checking Accounts: Easy Access and Low Fees
The best checking account providers ensure easy access to your funds and minimize fees. A robust ATM network is essential. If you prefer in-person banking, branch proximity is key. For digital banking users, seamless mobile apps and cash deposit options are crucial.
Look for checking accounts that help you avoid common bank fees like monthly service fees, overdraft fees, and out-of-network ATM fees. Some checking accounts offer added perks such as sign-up bonuses, interest earnings, or cashback debit cards.
Banks with the Best Customer Service: Support When You Need It
Customer service is paramount for a positive banking experience. J.D. Power’s 2024 U.S. National Banking Satisfaction Study identifies Capital One, Chase, and TD Bank as top performers in customer satisfaction. If 24/7 support is critical, consider banks offering around-the-clock customer service. Checking bank holiday schedules can also be useful to understand service availability.
Best Bank for an Online-Only Experience: Digital Convenience
Online banks excel in digital convenience, often lacking physical branches but providing robust mobile and online banking platforms. The top online banks offer free checking and savings accounts, eliminating monthly service fees and often overdraft fees. They prioritize digital accessibility and user-friendly interfaces.
Best Banks for In-Person Banking: Branch Access and Comprehensive Services
Brick-and-mortar banks offer the advantage of physical branches and a wider range of services. They typically provide diverse checking and savings account options, along with services like home loans, credit cards, and personal loans, supporting long-term banking relationships. Relationship banking perks, such as fee waivers for multiple accounts, are often available.
While brick-and-mortar banks may have monthly service fees and overdraft fees, top banks offer multiple ways to waive these fees, such as maintaining minimum balances or setting up direct deposits. Overdraft protection options, like linking to savings accounts, can also mitigate overdraft charges.
Key Differences: Online Banks vs. Traditional Banks
The primary distinction between online and traditional banks is the presence of physical branches. Traditional banks offer branch access, while online banks operate solely digitally. Online banks generally have lower overhead costs, translating to fewer fees and higher savings interest rates. However, brick-and-mortar banks often provide a broader range of accounts and services, including foreign currency exchange and more varied CD terms.
Choosing Between Traditional and Online Banks: Aligning with Your Needs
The choice between online and traditional banks depends on your individual banking style and needs. Online banks are ideal for those comfortable with digital banking and seeking lower fees and higher interest rates. If you value in-person service and branch access, a traditional bank might be a better fit. Regardless of the type, prioritize banks that minimize fees and meet your specific account and service requirements.
How to Switch Banks: A Step-by-Step Guide
Switching banks is a straightforward process. First, identify a new bank that better suits your needs, considering account types, fees, and services. Open a new account online, in a branch, or by phone, providing necessary identification and information. Once your new account is active, you can close your old account. Update direct deposit information with your employer and change autopay settings for bills to your new account.
Bank Trustworthiness and BBB Ratings: Evaluating Bank Reliability
We assess bank ethics and include settlement histories to provide insights into institutional conduct. Better Business Bureau (BBB) ratings reflect customer complaint responses, advertising practices, and business transparency. While a strong BBB grade is a positive indicator, it doesn’t guarantee a perfect experience. Reviewing online reviews and public records can offer a more comprehensive view of bank reliability.
Brick-and-mortar banks BBB Ratings:
| Institution | BBB Grade |
|---|---|
| TD Bank | D+ |
| Chase | A- |
TD Bank’s D+ rating stems from government action related to unauthorized Debit Card Advance service fees. Chase faced a settlement concerning suspicious activity reporting related to Jeffrey Epstein.
Online Banks BBB Ratings:
| Institution | BBB Grade |
|---|---|
| Axos Bank | A+ |
| Capital One 360 | A+ |
| Synchrony | NR |
| Discover | A+ |
| TotalBank | A- |
| Barclays | A+ |
Synchrony has an NR rating due to complaint resolution processes. TotalBank’s A- rating is due to an unanswered customer complaint. Synchrony and Discover have faced settlements related to customer account issues and lending practices, while Barclays settled with the SEC regarding unregistered securities.
Best Banks FAQs
What are the best banks for savings accounts?
The best savings banks are often online banks or those offering no-fee, high-yield savings accounts. Online banks typically offer higher APYs and lower fees due to lower overhead costs. However, physical banks may be better for frequent cash deposits.
Which banks have the lowest fees for checking accounts?
Online banks generally have the lowest checking account fees. If you prefer in-person banking, some traditional banks offer fee waivers for checking accounts based on balance or direct deposit criteria.
How can I choose the best bank?
Consider your preferred banking style (traditional, online, credit union), and compare account options, fees, interest rates, and perks. Think about your future banking needs and potential for additional services.
What is the No. 1 bank in America?
Chase is often considered the No. 1 bank in America based on its extensive branch network, providing widespread access and customer service. It also holds a strong rating from the Better Business Bureau.
Which bank has the most complaints?
Citibank may have a higher complaint volume compared to other major banks and has a lower BBB rating.
Why You Should Trust Us: Our Expert Panel for the Best Banks
Bankprofits.net is committed to providing reliable and expert-backed financial guidance. Our recommendations are based on thorough research and analysis, incorporating insights from financial professionals.
Our expert panel includes:
- Tania Brown, CFP®: Vice president of coaching strategy at OfColor, providing expertise in financial planning and diverse banking needs.
- Sophia Acevedo: Banking editor at Business Insider, bringing in-depth knowledge of the banking industry and consumer banking trends.
- Mykail James, MBA: Certified financial education instructor at BoujieBudgets.com, offering practical financial literacy and banking advice.
- Roger Ma, CFP®: Author of “Work Your Money, Not Your Life,” providing insights into financial efficiency and online banking optimization.
Our Methodology: How We Chose the Best Banks
bankprofits.net’s personal finance team analyzed over 200 financial institutions, prioritizing those offering a wide range of products and strong customer service. We adhere to strict editorial standards, ensuring independence and objectivity in our reviews and ratings.
Our evaluation criteria include:
- Accessibility: Branch and ATM network size for traditional banks; ATM access for online banks.
- Affordability: Fee structures, interest rates, and fee waiver options.
- Account Features: Product variety, interest rates, and unique account benefits.
- Customer Service: Customer satisfaction ratings and service accessibility.
We use a star-rating system (one to five stars) to evaluate bank accounts, with a five-star rating representing superior options. Our rating methodology weights factors like interest rates and fees more heavily, reflecting their significant impact on the overall banking experience.
Expert Bios:
Sophia Acevedo – Banking Editor at Business Insider
Sophia Acevedo, Banking Editor
Sophia Acevedo is a banking editor at Business Insider with extensive experience in personal finance journalism. She leads banking coverage, providing reviews, guides, and news analysis. Sophia’s expertise includes bank accounts, savings trends, budgeting, and bank operations. She holds a journalism degree from California State University Fullerton and is a member of the National Association of Hispanic Journalists.
Evelyn He – Compliance and Operations Associate
Evelyn He, Compliance and Operations Associate
Evelyn He is a compliance and operations associate for Business Insider’s Personal Finance team. She ensures content accuracy, editorial independence, and compliance with regulations and guidelines. Evelyn’s expertise spans compliance, quality assurance, SEO, and content strategy. She holds degrees in business administration and marketing from UMass Amherst and Boston University, respectively.
Top Offers From Our Partners
SoFi® Checking and Savings (Member FDIC)
Earn up to a $300 bonus with qualifying direct deposits and up to 3.80% APY on savings balances.
