20 Best Banks in the U.S in 2023

The U.S. is the world’s largest economy and here, we have discussed the best banks in the country.

As the world’s largest economy, the United States is one of the largest banking countries in the world. Banks in the United States are the biggest based on tier 1 capital.

But let’s talk about keeping your money safe with the best and most reliable financial institutions in the U.S.

Saving your money in one of the largest banks gives you access to the best services and more. For instance, you will experience in-person services at branches, have access to a large ATM network, and so much more.

The best banks in the United States are also among the largest in the country. The largest banks in the U.S. are determined by domestic assets, and sizes of institutions serving small businesses and consumers.

To find out a bank’s assets, credit card accounts, mortgages, and the number of loans is considered. Some of the best banks in the United States on our list have thousands of branches across the country, while some are exclusively online.

In a moment, we will list the best twenty banks in the United States.

best banks in the us

How to Find the Best Banks

There are several factors considered when searching for the best banks. As a person, choosing the best financial institution often comes to your life circumstance, geography and knowledge of saving.

However, you can also take other factors into consideration when choosing the best banks. 

The few questions you should ask yourself are: what are my financial goals, which bank is close to my area, and do I want to bank online or in person?

Once you figure these things out, it will be easier for you to choose the best banks. 

Everyone wants to bank with an institution that has something to offer. Millions of Americans prefer to bank with institutions with a high-interest rate or APY.

Nevertheless, the aim is to save money with the best banks, whether you decide to bank online or in person.

Also Read: The Complete Guide to Machine Learning in Banking, Financial Services, and Investments

20 Best Banks in the U.S

Here, we are going to look at the best twenty banks in the United States and what they have to offer. Some of the banks on our list are exclusively online and they also offer good APYs.

#1. Ally Bank

If you prefer banking online and not in person, then Ally Bank is the perfect choice for you. It’s an online-only bank that offers both home loans and investing products.

Ally Bank provides checking accounts, savings accounts, individual retirement accounts, money market accounts, and CDs. Ally Banks has so much to offer to its customers.

Online saving account holders can get a 3.30% APY and they don’t have to pay any monthly maintenance fee. However, Ally’s online savings account comes with a $25 overdraft fee as well as an excessive transaction fee of $10. 

Ally Bank provides steady customer service support and their mobile app is available online for both Android and iOS users. With the Ally mobile app, you can complete transactions, and deposit checks anytime, anywhere.

Ally Bank is one of the best banks in the U.S. However, keep in mind that Ally charges users for outgoing domestic wires, expedited delivery, account research and returned deposit items. 

#2. Chase Bank

With a minimum of $25, you can open an account with Chase Bank. Chase Bank offer the best services to Americans who prefer in-person banking.

This bank has a large presence across the United States. Texas, California, Georgia, New York, and Florida are some of the states where you will find branch locations of Chase Bank.

Currently, Chase Bank has over 4,000 branches and 17,000 ATMs across the United States

The U.S. is not the only country where Chase Bank operates. The bank also operates in over 100 countries worldwide.

In the United States, Chase has thousands of ATMs across the country. With over 17,000 ATMs in place, you can locate the nearest Chase Bank ATM in your area.

Chase Bank is one of the finest banks in the United States. Banking with Chase gives you easy access to your money. As an account holder with Chase, you will have the opportunity to enjoy free withdrawals, especially if you are a resident of Chicago, New York or Loss Angeles.

Chase mobile app is available online for both Android and iOS users. With the Chase mobile app, you will able to manage your savings accounts, checking accounts, mortgages, and credit cards. 

#3. Digital Federal Credit Union (DCU)

Digital Federal Credit Union (DCU) is one of America’s finest credit unions. This financial institution has something to offer to its customers.

For instance, if you open a Primary Savings account, you get to earn a 6.17% APY. You will receive this offer once you apply to the first $1,000 that you deposit into the account.

With as little as $5, you can open an account with Digital Federal Credit Union (DCU).

Digital Federal Credit Union offers a 0.75% APY for an Advantage Savings Account. Besides that, there are no monthly fees with Advantage Savings and Primary Savings Accounts.

DCU also offers student loans, auto loans, rewards, reals estate services as well as financial advisory services.

#4. UFB Direct

UFB Direct is one of the best banks in the U.S.

With $0, you can open an account with UFB Direct. Currently, UFB offers one of the best savings rates you can find on the market. The bank offers a 3.8% of APY for its savings accounts.

There is so much more you can enjoy by banking with UFB Direct. For instance, if you open a UFB high-yield savings account, you don’t have to worry about minimum deposits or monthly maintenance fees.

In addition, the UFB high-yield savings accounts come with a complimentary ATM card. UFB Direct also provides a 24/7 customer service hotline for account holders.

Across the United States, there are over 90,000 UFB Direct ATMs. So if you are someone who travels around the country, you will likely find a UFB Direct ATM.

#5. Wells Fargo

Wells Fargo is one of the popular and most reliable banks in the U.S.

Across the country, no bank is more active with SBA loans than Wells Fargo. Thousands of Americans have benefited from these financial supports. Wells Fargo is interested in assisting small businesses and they have done that over the years.

Chase Bank and Wells Fargo are in a bit of competition when it comes to small business checking accounts. Wells Fargo business checking is good, but some consider Chase Fargo’s small business checking account to be better.

You can choose between Initial Business Checking, Navigate Business Checking and Optimize Business Checking, which are the three types of accounts available.

Although the monthly fees for these accounts can be something to worry about, Navigate Business Checking and Initial Business Checking accounts can waive those fees.

In addition, you will have an earnings allowance which you can use to pay for your monthly fees for the Optimize Business Checking account.

Also Read: How Much Money Is in an ATM? All you need to know

#6. Synchrony

Synchrony is one of America’s best financial institutions for students. it offers a high-yield savings account and students can earn a 3.00% APY on all balances with no minimum requirements.

This bank offers three deposit tiers from $0 to $4,999, $4,999.o1 to $24,999, and $24,999.01 and up. These three tiers will earn a 3.00% APY.

Synchrony is the perfect choice for students as it does not charge ATM withdrawal fees. Additionally, Synchrony’s high-yield saving account can only be accessed digitally.

#7. Fidelity

Fidelity bank is the best bank for ATMs. It’s a reliable financial institution that gets involved in various areas of finance.

The Fidelity Cash Management Account is the perfect option for those who prefer and want cheap access to ATMs. Fidelity offers a unique service to its customers.

For instance, when you use the Fidelity debit card with the Visa®, Plus® or Star® logos at any ATM, the bank will reimburse you for any fees charged by the ATM operator.

However, debit transactions made outside the United States will attract a 1% foreign transaction fee.

Just so you know, Fidelity operates almost entirely online. With Fidelity, you will get the best online and mobile experiences.

#8. Bank of America

With an asset of over $2 trillion, Bank of America is one of the best banks in the U.S.

It’s the second-largest bank in the United States, with several branches located in different states across the country. Bank of America currently has over 15,000 ATMs across the U.S.

Out of the fifty states in the country, you will find a branch of this bank in thirty-seven states, including Washington D.C.

#9. Citibank

Citibank is one of the banks in the United States with a large domestic network of ATMs. It has branch locations in eleven states, including Washington D.C.

California and New York are the two states where Citibank has a huge presence.

#10. U.S Bank

U.S. Bank is a reliable financial institution located in different states across the United States. You will find a branch of this bank in 26 states across the country, especially in states like Ohio, California, and Illinois.

#11. PNC Bank

If you are looking for a bank that offers a wide range of personal banking services, then you should consider PNC Bank. PNC offers checking and savings accounts, credit cards, mortgages and lots more.

PNC has over 2,500 branches across twenty-eight states in the U.S., including Washington D.C.

Ohio, Pennsylvania, New Jersey, Florida and Texas are states where you can easily find a branch.

#12. Truist Bank

In 2019, BB&T (Branch Banking Trust Company) and SunTrust Banks merged to form what we have today as Truist Bank.

With an asset of over $500 billion, Truist Bank has thousands of branches across 17 states. There is also a branch in Washington D.C and states where you can find more branches including Florida, North Carolina and Virginia.

#13. Goldman Sachs

Goldman Sachs is next on our list of best banks in the U.S.

Although Goldman Sachs is known as an investment bank, it also offers consumer banking products and wealth management. 

Goldman Sachs also offers high-yield savings accounts and CDs, including competitive interest rates.

Also Read: 10 Best Banks in Tennessee in 2023

#14. TD Bank

Currently, TD Bank has an asset of $405 billion. The bank operates in 15 states across the country, including Washington D.C.

With over a thousand branches across 15 states and about 700 ATMs, TD Bank remains one of the largest banks in the United States.

#15. Capital One Bank 

Capital One is among the largest banks in the United States with an asset of $388 billion.

This bank has over 700 branches in the United States, including 30 café style locations and over 2,000 ATMs. Capital One Bank also offers checking, savings and CD accounts.

#16. Citizen Bank

Citizen Bank has a large presence in the Midwest and Northeast. There are about a thousand branches in these regions.

Just like other banks on this list, Citizen Bank also has a branch in Washington D.C. In general, there are over 3,000 Citizen Bank ATMs in the country.

#17. Fifth Third Bank

Fifth Third Bank’s asset is over $200 billion. If you are in the Midwest or travel often to the South, especially in Florida, you will likely find a branch.

Fifth Third Bank has thousands of ATMs, including ATMs in the Allpoint, Presto, and 7-Eleven networks.

#18. First Republic Bank

First Republic Bank boasts over 80 branches across ten states, especially in California.

With an asset of $198 billion, First Republic Bank is one of the best and largest banks in the U.S.

#19. Huntington National Bank

Huntington National Bank has several branches across the U.S., especially in the Midwest. In states like Michigan and Ohio, you will likely find a branch.

The bank also has a large ATM network across the U.S., with over 1,600 currently in place.

#20. HSBC Bank

In early 2022, HSBC sold most of its U.S based business to Citizen and Cathay Bank. The bank still remains one of the largest in the country and currently offers premium deposit accounts only.

Ten Largest Banks in the U.S by Total Asset

Below are the ten largest banks in the United States by total assets.

  • JPMorgan Chase: $3.38 trillion
  • Bank of America: $2.44 trillion
  • CitiBank: $1.72 trillion
  • Wells Fargo Bank: #1.71 trillion
  • U.S Bank: $582 billion
  • PNC Bank: $534 billion
  • Truist Bank: $532 billion
  • Goldman Sachs: $502 billion
  • TD Bank: $405 billion
  • Morgan Stanley: $391 billion

Conclusion

As the world’s largest economy, the United States is one of the largest banking countries in the world. Banks in the United States are the biggest based on tier 1 capital.

Now you know the best and largest banks in the U.S. and what they have to offer.

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