Best Banks in America

For the 2025 edition of Best Banks, Money evaluated more than 275 financial institutions, including national, online and regional banks and credit unions. We looked at hundreds of data points covering minimum deposit requirements, annual percentage yields, fees and other features like customer service and convenience.

Among those more than 275 institutions, we established Money's top picks in the following categories: best national banks, best online banks, best banks for digital investing, best credit unions, best banks for students, best banks for seniors, and best banks for members of the military.

We also looked at five regions: the Northeast, Mid-Atlantic, Southeast, Midwest and West. Finally, in this year's edition, we examined 11 individual states, including California, Texas, New York, Florida, Pennsylvania, Illinois, Michigan, Ohio, Georgia, North Carolina and Missouri. 

Money's Best Banks is one of the publication's oldest franchises, providing readers an annual analysis of the best financial institutions for everyday banking needs.

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Oct. 8, 2024 | Read the full methodology here.

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FDIC Insurance
  • FDIC Insurance
SoFi High Yield Savings Logo
Our Partner
See Offer

Savings Account with up to 4.00% APY* (read their website to see terms)

  • Cash Bonus up to $300 with direct deposit set up (Terms apply)
  • No monthly fees 
  • Up to 2-day-early paycheck
  • Up to $2M of additional FDIC insurance through a network of participating banks

 

*Rate as of 12/3/2024

FDIC Insurance: $250,000.00
Discover®️ Cashback Debit Account Logo
Our Partner
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Checking Account offers 1% cash back on up to $3,000 in debit card purchases each month (see website for details)

Fund Now & Earn 1% Cash Back (on up to $3k in Monthly Debit Purchases¹)

  • No Monthly Fees & No Min. Balance Required

  • Early Pay: Get Paid up to 2 days Early with Direct Deposit²

  • Access to 60,000+ Fee-Free ATMs

  • Fee-free Overdraft Protection³

FDIC Insurance: $250,000.00
Chime® Logo
Our Partner
See Offer

Get paid up to 2 days early with direct deposit

Earn $100 with Direct Deposit¹

  • Get Paid 2 Days Early with Direct Deposit Set Up²
  • No Monthly Fees & No Min. Balance Required 
  • 60k+ Fee-free ATMs³ at Walgreens®, 7-Eleven®, CVS® & more
  • No Fees for Foreign Transactions & Transfers
FDIC Insurance: $250,000.00

Savings Account with up to 4.00% APY* (read their website to see terms)

SoFi High Yield Savings Logo
Our Partner
See Offer
FDIC Insurance: $250,000.00
  • Cash Bonus up to $300 with direct deposit set up (Terms apply)
  • No monthly fees 
  • Up to 2-day-early paycheck
  • Up to $2M of additional FDIC insurance through a network of participating banks

 

*Rate as of 12/3/2024

Checking Account offers 1% cash back on up to $3,000 in debit card purchases each month (see website for details)

Discover®️ Cashback Debit Account Logo
Our Partner
See Offer
FDIC Insurance: $250,000.00

Fund Now & Earn 1% Cash Back (on up to $3k in Monthly Debit Purchases¹)

  • No Monthly Fees & No Min. Balance Required

  • Early Pay: Get Paid up to 2 days Early with Direct Deposit²

  • Access to 60,000+ Fee-Free ATMs

  • Fee-free Overdraft Protection³

Get paid up to 2 days early with direct deposit

Chime® Logo
Our Partner
See Offer
FDIC Insurance: $250,000.00

Earn $100 with Direct Deposit¹

  • Get Paid 2 Days Early with Direct Deposit Set Up²
  • No Monthly Fees & No Min. Balance Required 
  • 60k+ Fee-free ATMs³ at Walgreens®, 7-Eleven®, CVS® & more
  • No Fees for Foreign Transactions & Transfers
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Slide Table to Compare
Bank
Category
Best For
Minimum Opening Deposit
Annual Percentage Yield (APY)
Number of ATMs
Monthly Service Fees

Acorns

Online Bank Best for Innovation Yes 4.52% 55,000 $3 to $12

Alliant Credit Union

Credit Union Best for Rewards Yes 3.10% 80,000 $0

Ally

National Bank Best for Money Market Accounts Yes 4.00% 43,000 $0

American Express

National Bank Best for Rates, Best for High-Yield Checking Yes 4.25% 70,000 $0

Bank5 Connect

Online Bank Best for Customer Satisfaction Yes 5.10% Info not publicly available $1

BMO

National Bank Best Overall Yes 4.60% 40,000 $10

Capital One

National Bank Best for Customer Satisfaction, Best Free Account, Best Overall Yes 4.10% 70,000 $0

Chase

Online Bank Best Digital Banking, Best Overall, Best for Fee Waivers, Best for Accessibility Yes 0.01% 15,000 $0

Citibank

National Bank Best for Innovation, Best for High Balances Yes 0.03% 62,300 $4.50

Digital Federal Credit Union

Credit Union Best for Innovation, Best Overall Yes 6.17% 80,000 $0

Best Banks Rankings

Here are our picks for the best banks in these categories: National, Online and Credit Unions.

We’ve also picked the best banks for students, seniors and members of the armed forces.

Discover

National Bank Best Overall, Best for Low Fees Yes 4.10% 60,000 $0

Everbank

National Bank Best for Rates Yes 5.05% 80,000 $0

First Citizens

Credit Union Best Overall, Best for Digital Banking Yes 0.10% 15,000 $12

First Tech Federal

Credit Union Best for CDs Yes 4.00% 30,000 $0 to $10

FlagStar Bank

National Bank Best for Savings Accounts Yes 4.85% 56,600 $15

Forbright

Online Bank Best for High-Yield Savings Yes 5.00% 4 $0

Golden 1

Credit Union Best for Seniors, Best Overall Yes 0.05% to 4.00% 30,000 $0

Mountain America

Credit Union Best for Perks Yes 0.05% 50,000 $0

Navy Federal Credit Union

Credit Union Best for Military Members, Best Overall Yes 0.25% 30,000 $0 to $10

PenFed

Credit Union Best Overall, Best for Savings Accounts Yes 3.00% 85,000 $0 to $10

PNC

National Bank Best for Perks Yes 4.45% 60,000 $5

Redneck Bank

Online Bank Best for High-Yield Checking Yes 4.65% 0 $0

Regions

National Bank Best for Students, Best for Rewards Yes 0.01%% 1,463 $0

SoFi

Online Bank Best for Low Fees, Best New Account Offer Yes 4.50% 55,000 $0

Vio

Online Bank Best for Money Market Accounts Yes 5.00% 0 $0
No results match.
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* APY for deposit accounts varies depending on balance, type of account and/or area

# Membership in a credit union is obtained by opening a savings account with a $5 deposit in many cases. However, some credit unions may have higher or lower opening deposit requirements. The minimums quoted here are to become a member of the credit union.

^ Monthly fee can be waived

Note: APYs are valid as of 9/26/2023