- Best Banks 2025
- Complete Rankings
-
State and Regional Rankings
State and Regional Rankings
- Money’s Methodology
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.
Read More
By:
Jordan Chussler
and
Kat Tretina
Oct. 8, 2024 | Read the full methodology here.
FDIC Insurance
- FDIC Insurance
Earn 4.00% APY* with CIT's Savings Account
Rates as of: 12/20.2024
FDIC Insurance: $250,000.00
- $100 minimum balance for APY
- No account opening or monthly service fees
- Deposit checks online with the CIT Bank mobile app
- FDIC Insured
*Rate as of 12/20.2024
Savings Account with up to 4.00% APY* (read their website to see terms)
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)
FDIC Insurance: $250,000.00
- 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
- Link Card with Digital Wallets to Earn Rewards
- Fee-free Overdraft Protection³
Savings Account with up to 4.00% APY* (read their website to see terms)
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)
FDIC Insurance: $250,000.00
- 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
- Link Card with Digital Wallets to Earn Rewards
- Fee-free Overdraft Protection³
Earn 4.00% APY* with CIT's Savings Account
Rates as of: 12/20.2024
FDIC Insurance: $250,000.00
- $100 minimum balance for APY
- No account opening or monthly service fees
- Deposit checks online with the CIT Bank mobile app
- FDIC Insured
*Rate as of 12/20.2024
| 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 RankingsHere 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 | |
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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
