---
title: How Money Chose the Best Banks in the U.S.
description: To choose this year's Best Banks, Money evaluated the largest 90 brick-and-mortar banks, 50 credit unions, and 15 online banks, as identified by bank consultancy…
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    education: University of Florida
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    articles: 217
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  - name: Megan Leonhardt
    url: https://money.com/author/megan-leonhardt/
    at_money_since: 2016
    articles: 204
    covers:
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      - Business
      - Career Advice
      - Credit
      - Credit Cards
      - Economy and Politics
      - Education
      - Housing
      - Identity Theft
      - Insurance
      - Investing
      - Lifestyle
      - Loans
      - Personal Finance
      - Retirement
      - Shopping
      - Taxes
      - Technology
    social:
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    former_staff: true
published: '2017-10-23T16:41:29.000Z'
modified: '2024-04-17T07:06:40.000Z'
section: Banking
tags:
  - Best Banks 2017-18
word_count: 183
canonical: https://money.com/best-banks-winners-methodology/
type: Article
source: structured-blocks
---

> **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/).

![featured-image-best-banks-online-bank](https://img.money.com/2017/10/featured-image-best-banks-online-bank.jpg)

To choose this year's [Best Banks](https://money.com/tag/best-banks-2017-18/), Money evaluated the largest 90 brick-and-mortar banks, 50 credit unions, and 15 online banks, as identified by bank consultancy firm [Novantas](https://www.novantas.com/). [Bankrate.com](http://www.bankrate.com/banking/best-banks-in-america/), Money’s project partner, collected data on fees, interest rates, and account requirements for checking and savings accounts. Using Bankrate’s data, Money compared more than 800 accounts and 18,000 data points.

Data was collected in July and August, and Money independently fact-checked information for each winner in September and early October.

-   [**See all of Money's Best Banks winners**](https://money.com/tag/best-banks-2017-18/)

When selecting the [best bank winners by state](https://money.com/best-banks-in-america-2017/), Money excluded checking accounts that required a minimum balance greater than $1,500 to either open the account or waive monthly fees. Priority was given to banks whose checking accounts had no (or easily waived) monthly fees and low or no ATM fees.

Money also sought higher interest rates for checking and savings accounts. Additional factors included J.D. Power customer service ratings, when available, from the 2017 U.S. Retail Banking Satisfaction Study, geographic reach within a state, recent enforcement actions, and mobile app ratings in the iTunes and [Google](http://fortune.com/fortune500/alphabet/) Play stores.

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