The Best Banks in America

Banks are the country’s financial lifeblood. These institutions provide a range of essential services, whether it’s a safe place to park cash or a reliable source of capital for an auto loan or to make home improvements.

Brick-and-mortar banks face growing competition from institutions that operate completely online. This has led them to beef up their own online presence and rethink the way they connect with customers.

Read on to see our picks for the Best Banks in America. Money’s editorial team examined a range of data points for different categories of institutions: large national banks, credit unions, online banks, banks for seniors, for military members and for students. Data gathering and fact-checking took place from August through October.

By Rae Hartley Beck, Leslie Cook, Jill Cornfield, Sarah Hansen, Rachel Murphy, Matt Ryan Webber.
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Bank
Category
Best For
Minimum Opening Deposit
Annual Percentage Yield
Monthly Service Fees

Alliant Credit Union

Credit Union Interest rates $25 2.35% $0

Ally Bank

Online Bank Budgeting tools $0 2.50% $0

America First Credit Union

Credit Union Rewards $0 0.05% $6

American Express

Online Bank Interest rates $0 0.60% $0

Axos Bank

Online Bank Seniors $50 1.25% $0

Bank of America

National Bank Budgeting tools $25 0% $0

Bethpage Federal Credit Union

Credit Union Students $5 0.40% $0

Bread Financial

Online Bank Interest rates $100 3.00% $0

Capital One

National Bank Customer ratings $0 3.00% $0

Chase

National Bank Cash bonuses $0 0.01% $25

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Hawaii Alaska Florida South Carolina Georgia Alabama North Carolina Tennessee RI Rhode Island CT Connecticut MA Massachusetts Maine NH New Hampshire VT Vermont New York NJ New Jersey DE Delaware MD Maryland West Virginia Ohio Michigan Arizona Nevada Utah Colorado New Mexico South Dakota Iowa Indiana Illinois Minnesota Wisconsin Missouri Louisiana Virginia DC Washington DC Idaho California North Dakota Washington Oregon Montana Wyoming Nebraska Kansas Oklahoma Pennsylvania Kentucky Mississippi Arkansas Texas

CIT Bank

Online Bank Interest rates $100 3.25% $0

Citibank

National Bank Travel perks $500 3.10% $0

Discover

Online Bank Customer ratings $0 2.75% $0

First Technology Federal Credit Union

Credit Union Cash back $0 1.50% $0

Golden 1 Credit Union

Credit Union Seniors $0 0% $0

Lake Michigan Credit Union

Credit Union Rewards $0 3.00% $0

Marcus by Goldman Sachs

Online Bank No-fee services $0 2.50% $0

Mountain America Credit Union

Credit Union Students; seniors $0 2.60% $7

Navy Federal Credit Union

Credit Union Overseas services $0 0.45%* $10

Pentagon Federal Credit Union

Credit Union Easy to join $5 1.70% $0

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PNC Bank

National Bank Students; seniors $0 to $25 0.04%* Up to $25

Quontic

Online Bank Earns Bitcoin $500 3.00% $0

Regions Bank

National Bank Students; seniors $50 1.00% $0 to $8

Security Service Federal Credit Union

Credit Union Deployment loans $0 0.79%* $6

SoFi Bank

Online Bank Combo account $0 2.50% $0

State Employees' Credit Union

Credit Union Interest on checking $25 0.10% $0

TD Bank

National Bank Discounted loans $0 0.01%* $25

Truist

National Bank Rewards $50 0.01% $12

USAA Federal Savings Bank

National Bank Shopping discounts $25 0.01% $0

US Bank

National Bank Discounts; waived fees $25 0% $0

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Hawaii Alaska Florida South Carolina Georgia Alabama North Carolina Tennessee RI Rhode Island CT Connecticut MA Massachusetts Maine NH New Hampshire VT Vermont New York NJ New Jersey DE Delaware MD Maryland West Virginia Ohio Michigan Arizona Nevada Utah Colorado New Mexico South Dakota Iowa Indiana Illinois Minnesota Wisconsin Missouri Louisiana Virginia DC Washington DC Idaho California North Dakota Washington Oregon Montana Wyoming Nebraska Kansas Oklahoma Pennsylvania Kentucky Mississippi Arkansas Texas

Vio Bank

Online Bank Interest rates $100 3.52% $0

Wells Fargo

National Bank Outstanding support $25 0.02%* Up to $10

The interest rates and bonuses quoted in the bank and credit union overviews are valid as of Nov. 4, 2022, and are subject to change by the financial institution at any time.

* Rates quoted can vary depending on customer location or on account balance

Can be waived

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