Our experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.Whether you’re looking for a checking account, savings account, or a CD, choosing a bank is a major decision. Maybe you’re looking for a bank with a great mobile app. Maybe an extensive ATM network is important to you, or maybe you’re looking for the best rate above all else.Earn cash back rewards with no fees. Start earning 1% cash back today (see website for details).no monthly service feeNone$0Discover is a strong online bank. However, if you’d prefer to open a CD or money market account with a low minimum opening deposit, you might consider other options.There’s no rule that you have to use the same bank for all of your banking needs, but remember to look at whether you have to open a certain type of account at a given bank to get the best rate.no monthly service fee0.10%$0Capital One is a strong bank overall. You’ll earn competitive interest rates on online savings accounts and CDs.Capital One 360 Checking ranks as one of our best checking accounts. It doesn’t charge any overdraft, foreign transaction, or monthly service fees, and Capital One doesn’t require any minimum opening deposits. The bank ranks No. 1 on J.D. Power’s US National Banking Satisfaction Study.You can use your debit card at over 40,000 ATMs nationwide for free, but unlike many online banks, Capital One doesn’t reimburse any fees charged by out-of-network ATM providers.Branch and ATM locations: Although Capital One 360 is considered an online bank, the institution does have some physical branches. There are over 280 branches in seven US states, plus around 50 Capital One Cafés, where you can grab Peet’s Coffee®, speak with a money coach, and open a bank account. You can use over 70,000 ATMs for free, both through the Capital One and Allpoint networks.Capital One Bank ReviewEarn $200 bonus when you open an account using a coupon code and make direct deposits totaling $500 or more within 90 days of coupon enrollment (offer expires on 01/24/2024)$12 monthly service feeNone$0$200There are several Chase checking accounts, and Chase Total Checking® is the bank’s most popular choice. It offers several ways to waive the monthly fee, and you may qualify for a $200 bank account bonus. But if you want perks like early direct deposit or waived out-of-network ATM fees, one of Chase’s other options could be a better fit.Chase has branches in more states than Bank of America or Wells Fargo. The bank also has numerous types of bank account, and you could get perks such as relationship rates if you open multiple bank accounts. Chase is notably featured in our guides for the best 3 month CD rates, best kids savings accounts, and best national banks.You’ll pay a monthly service fee if you don’t meet certain account requirements. You’ll also have to pay a fee if you use an out-of-network ATM.Branch and ATM locations: Chase has over 4,700 branches throughout the continental US, and around 16,000 ATMs.Chase Bank Review With Cashback Checking, you can earn up to 1.00% cash back on all transactions that require a signature. Take your money further, faster. No monthly maintenance fees, and it only requires a $50 minimum opening account balance.Varies depending on accountVaries depending on accountAxos has strong high-yield savings, checking, and money market accounts. if you’d like to avoid monthly service fees.Axos offers five different checking accounts, all geared toward specific needs: You’ll need at least $250 to open a high-yield savings account. Some of the options on our list do not require an initial deposit.There are also several requirements to earn up to 3.30% APY with an Axos Bank Rewards Checking account. You’ll have to meet the following criteria:Branch and ATM locations: As an online-only bank, Axos doesn’t have physical branches. You have free access to around 91,000 ATMs. Axos doesn’t have a specific ATM network, but you can likely use one near you for free. Axos also offers generous out-of-network ATM fee reimbursements, in case you can’t find a free ATM close by.Axos Bank Review Earn cash back with your debit cardVaries depending on accountVaries depending on accountDiscover is a strong online bank. However, if you’d prefer to open an CD or money market account with a low minimum opening deposit, you might consider other options.Discover is a good option for people who want to do all their banking, investing, and borrowing with one institution. It offers a wide range of products, including credit cards. The bank is a good option if you want to earn cash back with your debit card — you’ll earn 1% cash back on up to $3,000 in purchases per month. While you don’t need to place an initial deposit for a checking or savings account, you’ll need at least $2,500 to open a money market account or CD. If you don’t have a lot of money to deposit, some of the options are our list do not require a minimum opening deposit on accounts.Discover also currently is not accepting new applications for the Discover Cashback Checking Account. However, you can sign up to receive an email notification on when you can apply for a new account.Branch and ATM locations: Discover has just one physical branch, in Delaware. You have free access to over 60,000 ATMs in the Allpoint and MoneyPass networks.Discover Bank Review Earn 4.75% Annual Percentage Yield (APY). $0 minimum deposit. FDIC Insured.no monthly service fee4.75%$0With a high rate and no fees, the Synchrony High Yield Savings Account is a great option for savers. But if you want to open a checking account to do all of your banking at one place, you may want to consider one of the best online banks instead.Synchrony pays 4.75% APY on its high-yield savings account, which is great compared to other well-known banks. It doesn’t require a minimum opening deposit, and there are no monthly fees. Unlike most savings accounts, it comes with an ATM card so you can easily access your savings.Synchrony only offers a high-yield savings account, CDs, and a money market account — not a checking account. If you need to transfer money from your Synchrony account to an external checking account, it could take a few business days. But keep in mind that Synchrony makes it easier to access your money than most banks without checking accounts, because it gives you an ATM card.Branch and ATM locations: Synchrony is an online-only bank, so it doesn’t have any branches. Although it doesn’t have its own ATM network, you can use ATMs in the Plus, STAR, or NYCE ATM networks for free. Synchrony also reimburses up to $5 per month for any fees charged by an out-of-network machine.Synchrony Bank Review Over 1,100 branches and 2,600 ATMs with low or no minimum opening deposits on bank accountsVaries depending on accountVaries depending on accountTD Bank is Insider’s pick for the best national bank on the East Coast. It has long customer service hours and bank accounts with low minimum opening deposits. You also might like TD Bank if you’re searching for a variety of home loan options.TD Bank is ranked third in JD Power’s 2022 US National Banking Satisfaction Study. Many branch locations are open seven days per week, which is great if you struggle to make it to the bank during the workday. TD Bank’s ATM fees aren’t necessarily higher than other banks’ fees, but its fine print may affect which checking account you choose to open.Just be aware that the TD Bank Beyond Checking Account is the only TD Bank checking account that doesn’t charge a fee when you non-TD Bank ATMs — and you must maintain a $2,500 balance for TD Bank to reimburse fees charged by out-of-network ATM operators.Branch and ATM locations: TD Bank has over 1,100 branch locations across 16 states, with about 2,600 ATMs.TD Bank Review Over 1,300 branch locations in the Southeast US region with variety of accounts including free savings account and possible to waive monthly feesVaries depending on accountVaries depending on accountRegions Bank is one of the best national banks, especially in the Southeast. It’s a good option if you prefer a bank with a variety of bank accounts or a large branch network. But if your goal is to earn a high interest rate or avoid account fees, you’ll likely fare better at another institution.Regions offers a wide range of bank accounts, so you can probably find one that fits your needs. The Regions LifeGreen® Savings Account is a unique savings option from a brick-and-mortar bank. It doesn’t charge monthly fees.Regions charges you if you overdraw from your account or if you use an out-of-network ATM. You also may have to pay a monthly service fee on some accounts.Branch and ATM locations: Regions has around 1,500 branch locations in 15 states, and about 2,200 ATMs.Regions Bank Review »0.05% to 0.25%$500U.S. Bank is included in our best national banks guide as the best national bank in the Midwest and West. It’s a good choice if you want a brick-and-mortar bank with 24/7 live support. It also has a variety of credit card and lending options, and you can earn significant welcome bonuses when you open checking and savings accounts.U.S. Bank is a solid choice if you want to open a CD with a national bank. The bank provides more types of CDs than most big banks, including Step Up CDs that increase your rate every seven months, and Trade Up CDs that increase your rate once during the term if U.S. Bank rates go up. U.S. Bank CD rates are particularly high on its CD Specials, which pay 4.00% to 4.80% (Varies by location) APY — these are great rates for a brick-and-mortar bank.Although you may be eligible to waive monthly maintenance fees, U.S. Bank makes it a little harder than many competing national banks.Branch and ATM locations: U.S. Bank has around 2,000 branch locations in 26 states, and roughly 37,000 ATMs through the MoneyPass network.U.S.Bank ReviewYou should use an online bank if you’re looking for low fees and higher APYs. Because online banks don’t pay for physical branch locations, they can charge less and pay more. However, physical banks are better for anyone who needs to deposit cash regularly.The No. 1 bank in America is Chase, if you go by the highest number of locations. Many locations makes it good for getting easy access to your money and regular customer service. Chase also has a high score from the Better Business Bureau.Three banks have failed in 2023: First Republic Bank, Silicon Valley Bank, and Signature Bank.The bank with the most complaints may be Citibank. Unlike other major banks, it is not accredited by the Better Business Bureau and received a score of F.The Better Business Bureau grades companies by looking at responses to customer complaints, advertising, and transparency about business practices.A strong BBB grade doesn’t guarantee you’ll have a smooth experience with a bank. You may also want to read online reviews or look into public scandals. We’ve also detailed any existing public issues with each bank.Brick-and-mortar banksIn 2022, Regions Bank was required to $191 million in a settlement with the Consumer Financial Protection Bureau. The CFPB accused the bank of charging surprise overdraft fees for some ATM withdrawals and debit card transactions.The US Bureau of Consumer Financial Protection said TD Bank had been breaking the law by charging customers for its Debit Card Advance service without their permission.U.S. Bank paid the government $200 million in a settlement when accused of approving FHA mortgages for insurance when borrowers didn’t meet the minimum criteria.In 2020, JP Morgan Chase & Co. paid the Department of Justice $920 million in a settlement that said the bank was involved in wrongful trading. In the same year, the US Department of Labor also required Chase to pay $800,000 in back wages in a settlement that accused the bank of underpaying women. In 2023, JP Morgan Chase was also required to pay $75 million in a settlement with the U.S. Virgin Islands that accused the financial institution of failing to report suspicious activity regarding Jeffrey Epstein’s sex trafficking operation. Online banksSynchrony has been involved in a few public controversies. In 2023, Synchrony was required to pay $2.6 million in a settlement when accused of calling customers about bank accounts they didn’t have. In 2021, the bank also was required to pay $3.5 million in a settlement when accused of making unreasonable phone calls to debtors living in California.Capital One is also facing a lawsuit. The bank used to have an account called 360 Savings. In 2019, Capital One launched the new 360 Performance Savings Account, which paid a much a higher interest rate. Many customers thought their old savings accounts would transition into this new one, but in reality, they had to open a new 360 Performance Savings Account to earn the higher rate. So some customers have been earning a significantly lower savings rate for years.In the lawsuit, the plaintiffs’ lawyers allege that Capital One didn’t inform 360 Savings customers that these were two distinct accounts, or that 360 Performance Savings paid a higher rate. However, Capital One wants this case dismissed because it claims people had every opportunity to learn these facts on their own. This case is still ongoing.To learn more about what makes a good bank and how to choose the best fit, four experts weighed in:We’re focusing on what will make a bank most useful, including fees, interest rates, accessibility, and more. Here’s what they had to say about banking online. (Some text may be lightly edited for clarity.)How can someone determine whether a bank is the right fit for them?Tania Brown, certified financial planner at SaverLife:”Obviously, you want to make sure it’s FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you’re okay online. Do you write checks? Do you not write checks? So it’s thinking through how your experience with it is going to be before you make that decision.”Sophia Acevedo, certified educator in personal finance, banking reporter, Personal Finance Insider:”I would create a list of what I prioritize most in a bank account. For example, some banks have accounts that charge monthly service fees. I would look to see what the requirements are for waiving the monthly service fee and whether I think I could feasibly meet those requirements each month. If I’m searching for an interest-earning bank account I’ll pay attention to interest rates. I would make sure the account pays a higher interest rate than the average bank account.”What should someone look for in a brick-and-mortar bank?Brown:”How can that bank grow with you? If you are 25, single or newly married, and all you need is a checking account, that’s going to look very different 15 years from now when you may have had a couple of jobs, you may have an IRA roll over, or you may want a financial adviser.”Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:”How accessible it is. So where are the branches? And if I am to go out of town or something, how accessible is my money to me?”Acevedo:”With a brick-and-mortar bank, I would review all the bank accounts and make sure there are options where I can waive monthly service fees. I would also factor in the overall banking experience. For example, I would see if a bank lets you exchange foreign currency — not all do — and has a strong mobile app.” What should someone look for in an online bank?Roger Ma, certified financial planner with lifelaidout® and author of “Work Your Money, Not Your Life”:”How onerous the transfer process is, transferring money in and transferring money out. Is it same day, next day? Is it pretty easy to sync a brick-and-mortar checking account to this particular high-yield savings account?”James: “When it comes to online banks, you want to be a little bit more strict about what type of interest rates they’re providing. That’s the biggest thing, because online banks are supposed to have the higher interest rate because they don’t have the overhead of the brick-and-mortar. You want to make sure that it’s well above the national average.”What types of securities do they provide? Do they have two-factor identification? If it’s an online bank, they should definitely have — at the bare minimum — two-factor authentication in how easy it is to change your passwords and things like that, because you want to be a little more hypersensitive about the cyber security for a strictly online bank.”Our Methodology: How We Chose the Best BanksThere are a lot of online banks out there. Through our research, we’ve found that the best banks offer a wide range of products and effective customer service.Banks should make it easy to access your money. With a brick-and-mortar bank, we looked at banks with large branch and ATM networks. Although most online banks don’t have physical branches, we chose ones with plenty of ATMs nationwide.A bank should also make it affordable to keep your money with the institution. We chose online banks that pay high rates and charge low fees, or no fees at all. Brick-and-mortar banks are known for paying lower rates and charging higher fees, but a good one should make it possible to waive monthly fees. We also looked at other types of charges, such as fees for overdrafts, using out-of-network ATMs, and foreign transactions.See our full methodology for how we rate banks »We considered dozens of banks when choosing our favorites. Here are some of the banks we considered but ultimately didn’t choose as top picks:If you live in one of the following states, you can also check out our region-specific bank recommendations:
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