From Chase To Ally: America’s 20 Banking Giants Ranked

When it comes to American banking, size does matter. Whether you’re picking a bank for its branch reach, ATM access, or just some serious financial clout, we’ve got the tea on the 20 biggest banks in the U.S.—ranking them by those gargantuan assets, plus highlighting branch footprint and ATM power.

Discover which banks have the biggest reach in the U.S., including their assets, branches, and ATM networks.

Key Points

The top five banks in the country are JPMorgan Chase, Bank of America, Citibank, Wells Fargo, and U.S. Bank.
Together, these five hold $10.39 trillion in assets—more than twice the $4.66 trillion held by the next 15 combined.
JPMorgan Chase operates in more states than any other bank, with branches in every state except Alaska and Hawaii.

If you’re looking for a financial institution with wide availability and a full range of products, starting with one of America’s biggest banks could make sense. The following list highlights the 20 largest U.S. banks that offer personal deposit accounts, based on Federal Reserve data from March 31, 2025. This list excludes investment- and business-only banks.

1. JPMorgan Chase & Co.

Founded in 1799 and headquartered in New York City, JPMorgan Chase offers an extensive lineup of services—from checking accounts and credit cards to home loans, auto financing, and business banking. The 2023 acquisition of First Republic Bank expanded its reach even further.

Assets: $3.64 trillion
ATMs: 15,000+
Branches: 4,900+ across 48 states and Washington, D.C.

As the country’s largest bank by assets, Chase offers myriad products that serve a wide variety of banking customers. You can also find locations in all continential U.S. states, which is an appealing prospect for those who still want to do a considerable amount of transactions in a physical branch.

Pros

Easy to avoid monthly service fee for Total Checking.
Highly rated mobile app.
Phone customer service available 24/7.
Chase app and the Chase online platforms offer access to Zelle person-to-person payments.
No fee for overdraft protection.

Cons

Low interest rates on savings, even for Premier relationship accounts or for accounts with large balances.
Low interest rates on CDs.
Hefty overdraft fees, which could amount to up to $102 per day.

Overview

JPMorgan Chase Bank had assets of $3.39 trillion as of Dec. 31, 2023, making it the country’s largest bank by assets. On May 1, 2023, Chase bought First Republic Bank, which had been seized by federal regulators. Chase has over 4,700 bank branches and 16,000 ATMs.The bank offers checking accounts, savings accounts, prepaid cards, credit cards, mortgages, home equity lines of credit, auto loans and business banking.

More about Chase:JPMorgan Chase & Co. is a global investment bank and financial services company with roots that go back to 1799. It is based in New York. Chase is located in more than 100 markets and has more than 250,000 employees. The company’s stock is a component of the Dow Jones Industrial Average.

Is JPMorgan Chase Bank Right for Me?

Yes, if you:

Are looking for a bank with a truly national reach.
Don’t mind receiving low annual percentage yields on your savings.
Plan to bank in person at a branch regularly.

Checking

Chase offers checking accounts called Chase Total Checking, Chase Secure Banking, Chase Premier Plus Checking and Chase Sapphire Checking. It also offers checking accounts for kids, teens and college students, plus a high-end account for private clients. Overdraft fees for most accounts are $34 per item, maximum of three fees per day. Other account features include:

Chase Total Checking

$12 monthly service fee, which is waived if you have at least $500 in total direct deposits each month, or a minimum balance of $1,500, or an average daily balance of at least $5,000 combined in your Chase accounts.
No fee for overdraft protection if you transfer from a linked savings account (available for all checking accounts).
Includes Chase Overdraft Assist – you won’t be charged an overdraft fee if you’re overdrawn by $50 or less at the end of the business day or if you’re overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day.
Remote check deposit (available for all accounts).
$3 per transaction for use of non-Chase ATMs.

Savings

Chase Secure Banking

$4.95 monthly service fee, which cannot be waived.
Account does not allow you to overdraft.
No minimum deposit.
No fees for cashier’s checks or money orders.

Chase Premier Plus Checking

$25 monthly service fee, which is waived with an average daily balance of at least $15,000 combined in your Chase accounts or enrollment in automatic payments for a Chase mortgage.
Earns small amount of interest.
No Chase fee for four transactions per month at non-Chase ATMs.
No fees for counter checks, cashier’s checks or money orders.
Free checks.

Chase Sapphire Checking

$25 monthly service fee, which is waived if your Chase accounts have a combined average daily balance of at least $75,000.
Earns small amount of interest.
Unlimited reimbursement for non-Chase ATM fees.
No foreign currency fee.
No fees for counter checks, cashier’s checks or money orders.
Free checks.
No insufficient funds fee on first four overdrafts.

Chase High School Checking

No monthly service fee.
Created for teens, ages 13 to 17 at account opening, with their parent or guardian as a co-owner.
Get your teen started with their own debit card while you can monitor their activity via Account Alerts.

Chase College Checking

No monthly service fee up to the graduation date given at the account opening.
After graduation, monthly fee becomes $6, but can be waived.
Created for students, ages 17 to 24 at account opening, enrolled in college or a vocational, technical or trade school.

Chase Private Client Checking

$35 monthly service fee can be waived by either having a $150,000 average beginning day balance or more in any combination of this account and linked qualifying deposits/investments, or link a Chase Platinum Business Checking account.
Access to a J.P. Morgan Private Client Advisor.
No fee for using a non-Chase ATM and Chase will refund ATM fees charged by ATM owner/network.
Access to exclusive discounts and invitation-only events.

The bank offers Chase Savings and Chase Premier Savings accounts, whose features include:

$5 monthly fee for Chase Savings, which is waived with a minimum balance of $300, a repeating automatic monthly transfer of at least $25, or a linked Chase Premier Plus Checking or Chase Sapphire Checking account.
$25 monthly fee for Premier Savings, which is waived with a minimum balance of $15,000, or a linked Premier Plus Checking or Sapphire Checking account.
Premier accounts can earn higher relationship interest rates with at least five monthly transactions from a Premier Plus Checking or Sapphire Checking account.
Interest compounded monthly.
Limit of six withdrawals per month. Any transactions over this limit will have a $5 fee, which can be waived for Premier accounts with a minimum balance of $15,000.

CDs

Chase Bank offers certificates of deposit with terms from one month to 10 years. Some of the CD features include:

$1,000 minimum to open.
Some special-length terms earn competitive rates.
Seven- and 10-year terms, which is longer than what many other banks offer.
Interest compounded daily.
Earned interest can be paid out monthly, quarterly, semiannually or annually.
Higher interest rates for customers with Chase checking accounts.

Money Market

Chase offers three kinds of business checking accounts. None requires a minimum opening deposit. Each features unlimited electronic deposits. Chase charges a $34 overdraft fee and a 3% foreign transaction fee. There is a $3 charge for transactions made at ATMs outside of Chase Bank.

Business Complete Checking

$15 monthly service fee, which is waived with one of the following during a month: $2,000 minimum daily balance, $2,000 in purchases on your Chase Ink Business Card or $2,000 in deposits via Chase Payment Solutions. Also waived for active military and veterans.
Up to 20 teller and paper transactions per month without a fee.
$5,000 in cash deposits per month without a fee.

Performance Business Checking

$30 monthly service fee, which is waived with a $35,000 average beginning-day combined balance in Chase accounts.
250 transactions per month for no fee.
$20,000 in cash deposits per month without a fee.

Platinum Business Checking

$95 monthly service fee, which is waived with a $100,000 average beginning-day combined balance in Chase accounts.
500 transactions per month for no fee.
$25,000 in cash deposits per month without a fee.
No charge for counter checks, money orders and cashier’s checks.
No charge from Chase for using a non-Chase ATM.
One insufficient funds fee waived per month.
No charge for returned checks.

Business Savings

Chase Bank offers two different savings accounts for businesses. Their features include the following:

Chase Business Total Savings

No charge for the first 15 deposited items; then $0.40 per item.
Get the first $5,000 in cash deposits at no charge.
Avoid the $10 monthly fee with an average ledger balance of $1,000 or more.

Chase Business Premier Savings

No charge for the first 30 deposited items; then $0.40 per item.
Get the first $10,000 in cash deposits at no charge.
Avoid the $20 monthly fee with an average ledger balance of $25,000 or more, or by having a linked Chase Performance Business Checking, Chase Performance Business Checking with Interest, Chase Platinum Business Checking, Chase Analysis Business Checking or Chase Analysis Business Checking with Interest account.

2. Bank of America

Established in 1784, Bank of America serves both consumers and businesses with banking, investing, asset management, and more. Headquartered in Charlotte, North Carolina, it maintains a particularly strong presence in California.

Assets: $2.62 trillion
ATMs: ~15,000
Branches: 3,700+ in 41 states and Washington, D.C.

Our Take

Bank of America is the epitome of a big bank, with branches stretching across the country, in all but a handful of states, and it offers all of the services you’d expect from a bank. Checking and savings accounts carry maintenance fees, but deposit minimums to avoid the fees aren’t onerous. However, rates on savings aren’t close to competitive.

Pros

Bank of America stretches across the U.S., with about 3,800 branches and 15,000 ATMs.
It offers a wide range of big-bank products, with checking and savings accounts, loans, mortgages, credit cards and investing options.
If you use Advantage Plus as your main checking account, you can easily avoid the monthly fee.
Bank of America’s mobile app includes person-to-person payments via Zelle.

Cons

Bank of America’s rates on savings aren’t very competitive.
It’s not easy to avoid the monthly maintenance fee on the checkless Advantage SafeBalance checking account.

Overview

Bank of America serves consumers and businesses and offers banking, investing, asset management and other financial and risk management products and services. As of Dec. 31, 2023, Bank of America had $2.54 trillion in assets, making it the second-largest bank in the U.S.

The company has approximately 3,900 retail financial centers and approximately 15,000 ATMs. The bank operates throughout the U.S. and in more than 35 countries. Bank of America offers checking accounts, savings accounts, credit cards, mortgages, home equity lines of credit, auto loans and business banking options. Customers can make peer-to-peer payments via Zelle, a digital payment app. Features of Bank of America’s mobile banking app include biometric login and budgeting tools.

More about Bank of America: Bank of America was founded in 1784 and is headquartered in Charlotte, North Carolina. The bank pioneered the modern credit card in the 1950s, launching BankAmericard, which later became Visa. In 1998, by merging with NationsBank, Bank of America became the country’s first coast-to-coast bank.

Is Bank of America Right for Me?

Yes, if you:

Are looking for the quintessential big-bank experience.
Care most about working with a large national bank that can meet all your needs.
Don’t prioritize earning high annual percentage yields on your savings.

Checking

Bank of America offers three kinds of checking accounts. The bank charges $2.50 per transaction at non-Bank of America ATMs. Using a Bank of America debit card with a foreign merchant costs 3% of the U.S. dollar amount of the transaction. Here are some of the checking account features:

Advantage SafeBalance

Checkless checking account in which you make payments with a debit card, online or via mobile app.
No overdrafts or overdraft fees; the transaction will be declined if you don’t have the funds to cover it.
$4.95 monthly maintenance fee, which can be waived for enrolled students under 24 and those with at least a combined $20,000 in Bank of America or Merrill Lynch accounts.

Advantage Plus

Offers the same payment methods as Advantage SafeBalance, plus the option of paper checks.
$12 monthly fee that can be avoided with one direct deposit of at least $250 each month, a $1,500 average balance or a combined minimum of $20,000 in Bank of America banking and investment accounts.
Unless you opt out, transactions that create an overdraft may go through, costing you $10.
You can enroll in overdraft protection, which links another of your accounts to checking.

Advantage Relationship

Similar to Advantage Plus except that the balance earns a small amount of interest.
No fees on select banking services.
$25 monthly fee that is waived if you maintain at least a combined $10,000 in linked bank and investment accounts.

Savings

You must deposit $100 to open an Advantage Savings account. Bank of America charges an $8 monthly fee unless you maintain at least a $500 daily balance in the account, link this account with Advantage Relationship checking, are a student or are a Preferred Rewards customer, which requires a Bank of America checking account and at least a combined $20,000 in banking and investment accounts with the institution.

CDs

Bank of America offers three kinds of certificates of deposit – Featured, Fixed Term, and Flexible. Here are some of their features:

Featured CD

Featured CD terms run from seven to 37 months.
Minimum opening deposit of $1,000.
Fixed rate until maturity.
No maintenance or transfer fees.
APYs vary depending on term, but are generally competitive.

Fixed Term CD

Featured terms run from 28 days to 10 years.
Minimum opening deposit of $1,000.
All balances and terms earn miniscule APY.
No maintenance or transfer fees.
Low interest rates.

Flexible CD

Minimum opening deposit of $1,000.
Fixed rate until maturity and automatic renewal, though you’ll be sent a notice in case you do not wish to renew.
12 month term.
No maintenance or transfer fees.
You can withdraw money without facing an early withdrawal penalty.

Business Checking

Bank of America offers two kinds of business checking accounts with unlimited electronic transactions for no charge. Both have a minimum opening deposit of $100. Bank of America charges a $10 overdraft fee per item and a 3% foreign transaction fee. There’s a $2.50 charge for transactions made at non-Bank of America ATMs.

Business Advantage Fundamentals Banking

$16 monthly fee, which can be waived if you maintain a $5,000 combined average monthly balance or spend at least $250 per month in qualified debit card purchases.
No fee for up to 200 teller transactions a month, then 45 cents per transaction.
Fees for incoming wires.
Cash deposits up to $7,500 per month are free, then 30 cents per $100 deposited.

Business Advantage Relationship Banking

$29.95 monthly fee, which can be waived if you maintain a $15,000 combined average monthly balance.
Add checking and savings accounts for no fee.
No fees for incoming wires.
500 teller transactions a month fee-free, then 45 cents per transaction.
Earn interest on balance.
Cash deposits up to $20,000 per month are free, then 30 cents per $100 deposited.

Business Savings

Bank of America offers its Business Advantage Savings account, which comes with four tiers: Standard, Gold Tier, Platinum Tier and Platinum Honors Tier, with the APY increasing with each higher tier. It requires a minimum deposit of $100 to open. You can avoid the $10 monthly fee by maintaining a minimum daily balance of $2,500.

3. Citibank

Part of Citigroup, founded in 1812 and based in New York City, Citibank provides deposit accounts, credit cards, loans, financial planning, and wealth management services. Customers also have access to a large surcharge-free ATM network.

Assets: $1.76 trillion
ATMs: 2,300+ plus 60,000+ MoneyPass network ATMs
Branches: 600+ in 13 states and Washington, D.C.

Citibank is the nation’s fourth-largest bank with almost 700 branches and over 65,000 fee-free ATMs across the country. It offers everything you’d expect from a large bank: checking accounts, savings accounts, credit cards, personal loans, business banking and more. There’s no minimum opening deposit for savings accounts, but the interest rates are on the lower side.

Pros

Extensive network of fee-free ATMs.
Highly rated mobile app.
Easy to avoid monthly service fees on basic checking accounts.
No minimum opening deposit for checking or savings accounts.

Cons

Low interest rates on savings.
Few branches in some areas.

Overview

Citibank operates about 2,400 branches worldwide, with almost 700 of them in the U.S. Citibank banking offers over 65,000 fee-free ATMs across the country.As of Dec. 31, 2023, Citibank had $1.68 trillion in assets, making it the nation’s fourth-largest bank. The bank offers checking accounts, savings accounts, credit cards, home equity lines of credit and loans, personal loans, business banking, financial planning and wealth management products. Customers can make peer-to-peer payments via the Zelle app.

More about Citibank: Citibank Inc., part of financial services corporation Citigroup, was founded in 1812 as the City Bank of New York. Citigroup is headquartered in New York.Citi ranks as the nation’s No. 3 credit card issuer.

Is Citibank Right for Me?

Yes, if you:

Care most about working with a national bank that has many different products and account options.
Care less about earning high annual percentage yields on your savings.
Want easy access to a bank branch.

Checking

Citibank offers five kinds of checking accounts: Access Checking, Regular Checking, Citi Priority, Citigold and Citigold Private Client. No Citibank checking account requires a minimum opening deposit and there are no overdraft fees. Here are some other features:

Access Checking

No overdraft fees.
No paper checks.
$5 monthly service fee, which can be waived for three months after account opening or with a Relationship Tier or each month the account has $250 or more in Enhanced Direct Deposits.

Regular Checking

No overdraft fees.
$15 monthly service fee, which can be waived for three months after account opening or with a Relationship Tier or each month the account has $250 or more in Enhanced Direct Deposits.
Withdrawals from non-Citibank ATMs are $2.50.
Foreign transaction fees are 3% of the total.

Citi Priority

No monthly service fees.
No Citibank fee at non-Citibank ATMs.
No foreign exchange fee when using Citibank debit card abroad.
Free checks.
Earn higher interest on balances.
Access to financial advisors and investment resources.

Citigold

No monthly service fee, but Citigold members must maintain at least $200,000 combined average balance in Citibank accounts.
No Citibank fee at non-Citibank ATMs.
Refund of fees charged by non-Citibank ATMs.
No foreign exchange fee when using Citibank debit card abroad..
Free checks.
Up to $200 annually in cash back subscription rebates for Amazon Prime, Costco, Spotify Premium and Hulu.
Higher interest rates than other Citibank checking accounts.

Citigold Private Client

No monthly service fee, but Citigold Private Client members must maintain at least $1 million combined average balance in Citibank accounts.
No Citibank fee at non-Citibank ATMs.
Refund of fees charged by non-Citibank ATMs.
No foreign exchange fee.
Free checks.
Earn small amount of interest on balance.
Higher level of financial and investment advice.
Access to Mastercard Travel & Lifestyle Services.

Savings

Like its checking accounts, some aspects of Citibank savings accounts vary depending on the level of customer. Here are some features of Citibank savings:

Ability to write checks (except for Access Account).
No minimum opening deposit.
$4.50 monthly service fee for Access Account and Basic Banking, which can be waived with $500 average balance; $25 monthly service fee for The Citibank Account, which can be waived with at least $10,000 average combined balance in Citibank accounts.
Auto Save feature sets up transfers from Citibank or non-Citibank accounts.
Mobile check deposit.

CDs

Citibank offers certificates of deposit with terms from three months to five years. Here are some CD features:

Interest paid monthly.
Interest compounded daily.
Offers No Penalty CD, which allows withdrawal before maturity with no loss of deposit or earned interest.
Requires a $500 minimum deposit.

Business Checking

Citibank offers quite a few business checking accounts in addition to its personal checking options. Here are some of the key features of Citibank’s business checking accounts:

Streamlined Checking

$15 monthly fee waived with an average collected balance of $5,000 or more.
Receive up to 250 basic transactions each month without charge.
$10,000 per month of included cash deposits.
Minimum opening deposit of $1.

Flexible Checking

$22 monthly fee can be waived by maintaining an average collected balance of $10,000 or more.
Get up to 500 basic transactions each month without charge.
$20,000 per month of included cash deposits.
Minimum opening deposit of $1.

Interest Checking

$22 monthly fee can be waived by maintaining an average collected balance of $10,000 or more.
Get up to 25 basic transactions each month without charge.
$5,000 per month of included cash deposits.
Minimum opening deposit of $1.
Interest-bearing account.

Analyzed Checking

$24 monthly fee that cannot be waived.
Accrue earnings credits by linking other eligible deposit accounts. This can offset fees and service charges.
Minimum opening deposit of $1.
Does not earn interest.

4. Wells Fargo

Operating since 1852, Wells Fargo is headquartered in San Francisco and offers everything from bank accounts and credit cards to student loans, mortgages, IRAs, and annuities.

Assets: $1.71 trillion
ATMs: 11,000+
Branches: 4,200+ in 36 states and Washington, D.C.

Very few other banks can match the national reach of Wells Fargo. It has a wide variety of deposit accounts and has been growing its portfolio of credit cards. Savings rates are low, however, and Wells Fargo is still dealing with the fallout from its sham accounts scandal, which came to light in 2016.

Pros

Wells Fargo offers a broad range of products and services, including various deposit accounts, loans, credit cards and investing options.
It’s easy to avoid the $10 fee on Everyday Checking.
Wells Fargo’s app offers card-free access to ATMs via your smartphone.

Cons

Wells Fargo offers low rates on savings.
The overdraft fee is a hefty $35, and you could get hit with it three times in a day.
Over the past few years, Wells Fargo has been caught engaging in disturbing and fraudulent practices.

Overview

Wells Fargo had $1.73 trillion in assets as of Dec. 31, 2023 – making it the third-largest bank in the U.S.Wells Fargo operates 4,900 locations and 12,000 ATMs across 36 states in the U.S.,with offices in 21 countries and territories.

The bank offers checking accounts, savings accounts, certificates of deposit, credit cards, student loans, mortgages, home equity lines of credit, auto loans, business banking, financial planning and wealth management products such as individual retirement accounts and annuities. Customers can access Wells Fargo ATMs via the bank’s mobile app and can make peer-to-peer payments with Zelle, a digital payment app.

More about Wells Fargo:Wells Fargo & Co. was founded in 1852 and is headquartered in San Francisco. Wells Fargo doubled in size by buying Wachovia in 2009.In 2018, the federal government hit Wells Fargo with $1 billion in fines for charging improper fees to mortgage and auto loan customers. That same year, a computer glitch involving mortgage loan modifications resulted in hundreds of faulty foreclosures. In 2020, Wells Fargo was fined $3 billion by the Justice Department and Securities and Exchange Commission for its 2016 fake account scandal, in which bank employees fraudulently created deposit and credit card accounts in customers’ names without their permission.

Is Wells Fargo Bank Right for Me?

Yes, if you:

Are looking for a national bank with a wide variety of accounts.
Prioritize other features above earning high annual percentage yields.
Plan to visit your local branch regularly.

Checking

Wells Fargo offers four different personal checking accounts. All of them have monthly service fees, but they can be waived. For accounts that include overdraft protection, charges are $35 per overdraft up to three per day. You have one day after an overdraft to rectify your account balance. For accounts that don’t reimburse ATM charges, the cost is $2.50 for cash withdrawals from non-Wells Fargo ATMs.

Clear Access Banking

$5 monthly fee, waived if the primary account owner is 13 to 24 years old.
No overdraft fees, and optional overdraft services aren’t available.
No checks available with this account.
$25 minimum opening deposit.

Everyday Checking

$25 minimum opening deposit.
$10 monthly maintenance fee, which can be waived if the account holder is 17 to 24 years old, or direct deposits totaling at least $500, or a minimum daily balance of $500.
Optional overdraft coverage allows the bank to approve transactions that create overdrafts and charge $35 each time, up to three times per day.
You can enroll in overdraft protection, which links another account to cover overdrafts.
You can also enroll in Debit Card Overdraft Service so that the bank can approve overdrafts created by debit card transactions; these cost $35 each.

Prime Checking

You earn a small amount of interest.
$25 monthly fee, avoided with a combined minimum of $20,000 in Wells Fargo accounts.
No Wells Fargo fee for using non-Wells Fargo ATMs.
Wells Fargo reimburses one domestic and one foreign charge for other banks’ ATM fees.
Free checks.

Premier Checking

Pays interest on balances.
No fee for overdraft protection transfers.
Reimbursement of non-Wells Fargo ATM fees.
Lower interest rates on some loans.
$35 monthly fee waived for those with at least $250,000 combined in Wells Fargo deposit accounts and investment balances.

Savings

Way2Save Savings

Requires an opening deposit of at least $25.
$5 monthly maintenance fee, which will be waived with a $300 minimum daily balance or automatic savings transfers from a Wells Fargo checking account.
Low interest rate.

Platinum Savings

Higher interest rate than Way2Save.
$12 monthly fee unless the account maintains a $3,500 minimum daily balance.
Comes with checks.
Minimum opening deposit of $25.

CDs

Terms on certificates of deposit run from three to 12 months when opened online, but there may be longer terms available at branches. There are standard CDs available:

Minimum $2,500 opening deposit.
Interest compounded daily and paid monthly.
Accounts with higher, “special” rates require a $5,000 minimum deposit but have significantly higher APYs.

Business Checking

Wells Fargo offers three kinds of business checking accounts. All have a minimum opening deposit of $25. Wells Fargo charges a $35 overdraft fee and a 3% foreign transaction fee. Unless otherwise indicated, Wells Fargo charges $2.50 for transactions on non-Wells Fargo ATMs. Debit card use does not count toward monthly transaction limits.

Initiate Business Checking

$10 monthly service fee, which can be waived with a minimum daily balance of $500 or $1,000 average balance.
First 100 transactions a month are free, then 50 cents per transaction.
No fee for first $5,000 in cash deposits per month, then 30 cents per $100.
$15 per wire for incoming domestic, $16 per wire for incoming international U.S. or foreign currency, and $30 per wire for outgoing domestic.

Navigate Business Checking

$25 monthly service fee, which can be waived with a minimum daily balance of $10,000 or $15,000 average combined business deposit balances.
Earns interest.
First 250 transactions a month are free, then 50 cents per transaction.
No fee for first $20,000 in cash deposits per month, then 30 cents per $100.
No Wells Fargo fee for first two withdrawals per month from non-Wells Fargo ATMs.
All incoming wires and first two outgoing wires per month are free. After two, it’s $30 per wire.

Optimize Business Checking

$75 monthly maintenance fee.
First 250 transactions are free per month, then 50 cents per transaction.
Cash deposits are 0.3 cent per $1 deposited.
Check deposits via teller or mail are $2.50 per deposit and 20 cents per check.
No Wells Fargo fee for first two withdrawals per month from non-Wells Fargo ATMs.
All incoming wires and first five outgoing wires per month are free. After five, it’s $15 per wire.
Offers treasury management services.

Business Savings

You have two options when it comes to business savings accounts at Wells Fargo: Business Market Rate Savings and Business Platinum Savings.

Business Market Rate Savings

Minimum opening deposit of $25.
Waive the $5 monthly fee by maintaining a minimum daily balance of $300, or by having $25 or more in automatic transfers from a Wells Fargo business checking account.
Get up to 20 free deposited items per feed period.

Business Platinum Savings

Minimum opening deposit of $25.
Waive the $15 monthly fee by maintaining a minimum daily balance of $10,00, or by linking a Navigate Business Checking or Optimize Business Checking account.
Get up to 20 free deposited items per feed period.

5. U.S. Bank

Founded in 1863 as the First National Bank of Cincinnati, U.S. Bank—now based in Minneapolis—offers deposit accounts, loans, wealth management, and more.

Assets: $659.2 billion
ATMs: 40,000+ in the U.S. Bank and partner networks
Branches: 2,200+ in 27 states

Customers in the 26 states where U.S. Bank has physical locations have access to a host of banking products and services. Many of its offered accounts have low or easily waivable fees, and it provides several ways to avoid an overdraft fee.

Pros

Offers Step Up and Trade Up CDs.
Highly rated mobile app.

Cons

Low interest rates on savings.
$36 per overdraft, up to four times per day.
No branches in large sections of the U.S.

Overview

U.S. Bank had $650.6 billion in assets as of Dec. 31, 2023, ranking as the nation’s fifth-largest bank.U.S. Bank has more than 2,000 branches across 26 states, most of them in the Midwest and West.The bank offers checking accounts, savings accounts, credit cards, mortgages, home equity lines of credit, personal loans, auto loans, boat loans, business banking, financial planning and wealth management products.

More about U.S. Bank: U.S. Bancorp started in 1863 when the First National Bank of Cincinnati opened. With the U.S. Bank name, it established its headquarters in Minnesota.U.S. Bank ranks as the country’s No. 7 credit card issuer.

Is U.S. Bank Right for Me?

Yes, if you:

Are looking for a large national bank with many branches.
Prioritize other features over earning the highest annual percentage yield possible.
Plan to do your banking at a local branch.

Checking

U.S. Bank offers two different checking accounts, Bank Smartly Checking and Safe Debit. Both accounts require a $25 minimum opening deposit and Safe Debit doesn’t charge overdraft fees. Overdraft charges are $36 per overdraft, up to four times per day, if your ending balance is overdrafted by more than $50. Here are some of the accounts’ other features:

Bank Smartly Checking

Monthly maintenance fee of $6.95 can be waived with monthly direct deposits totaling more than $1,000, an account balance of $1,500 or greater, or possession of a U.S. Bank credit card.
This account earns interest at various deposit tiers.
Mobile check deposit

Safe Debit

No checks.
$4.95 monthly service fee that can’t be waived.
No overdrafts approved and no fee.

Savings

U.S. Bank offers one Standard Savings Account.Savings accounts include these features:

$25 minimum opening deposit.
Very low interest rate.
$4 monthly service fee, waived with $300 daily minimum balance or $1,000 average monthly balance

CDs

U.S. Bank offers certificates of deposit with terms from one month to five years. Standard CDs require a $500 minimum deposit, and promotional CDs require $1,000. Here are some features of U.S. Bank’s CDs:

Low interest rates on standard CDs.
Competitive rates on promotional CDs, with terms of 7 to 15 months.
Rates on Step Up CD, with 28-month term, increase every seven months.
Trade Up CD, with 30- and 60-month terms, offers the chance to lock in a new rate once during the term.

Money Market

U.S. Bank offers the Elite Money Market account, which requires a $100 minimum opening balance. Additional features of U.S. Bank’s money market account include:

Keep a $10,000 daily balance to avoid monthly maintenance fees.
Check-writing and debit card privileges.
Deposit at least $25,000 to earn a competitive interest rate.

Business Checking

U.S. Bank offers three kinds of business checking accounts. There is online and mobile banking with bill pay and overdraft protection. U.S. Bank charges a $36 overdraft fee and a 3% foreign transaction fee.

Silver Business Checking Account

No monthly maintenance fee.
125 free transactions per month, then 50 cents per transaction.
No fee for $2,500 in cash deposits or 25 cash transactions, whichever comes first, per month. Transactions are counted by dividing cash by 100 and rounding up. After $2,500/25, fee is $0.33 per transaction unit.
$2.50 fee at non-U.S. Bank ATMs.

Gold Business Checking Account

$20 monthly maintenance fee, waived with $10,000 average balance, $20,000 in combined average deposits or $50,000 in combined average deposits and outstanding credit balances.
300 free transactions per month, then 45 cents per transaction.
No fee for $10,000 in cash deposits or 100 cash transactions, whichever comes first, per month. After that, fee is $0.33 per transaction unit.
$2.50 fee at non-U.S. Bank ATMs, with the first two transactions per month waived.

Platinum Business Checking Account

$30 monthly maintenance fee, waived with $25,000 average balance or $75,000 in combined average deposits and outstanding credit balances.
500 free transactions per month, then 40 cents per transaction.
No fee for $20,000 in cash deposits or 200 cash transactions, whichever comes first, per month. After that, fee is $0.33 per transaction unit.
No fees for transactions made at non-U.S. Bank ATMs.

Business Savings

U.S. Bank has two business savings accounts. Both the Basic Business Savings and the Business Savings Sweep require a $100 minimum deposit to open. The Basic Business Savings requires a minimum daily balance of $500 to avoid the undisclosed monthly fee, but has a higher APY than Business Savings Sweep.

6. Goldman Sachs (Marcus)

Established in 1869 and headquartered in New York City, Goldman Sachs operates Marcus, an online-only banking division offering savings and other consumer products.

Assets: $598.5 billion
ATMs: None
Branches: None

If you’re looking for a one-stop banking experience, you won’t find a brick-and-mortar location – nor a checking account option – at Marcus by Goldman Sachs. However, it offers competitive rates on both its savings and accounts and CDs with no minimum balance requirements and minimum opening deposits, respectively.

Pros

Competitive rates on savings and CDs.
Relatively low minimum deposit on CDs.
No minimum balance on savings.
No fees.
You get a higher APY on CDs if interest rates go up within 10 days of opening.

Cons

No checking accounts.
No debit cards.
No branches or ATMs.
Must use mail to deposit checks.

Overview

Goldman Sachs is a global investment banking, securities and investment management firm. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and offers high-yield online savings accounts and certificates of deposit. Marcus is an online platform and does not offer checking accounts or an ATM and branch network. With assets of $564.3 billion as of Sept. 30, 2024, Goldman Sachs Bank ranked as the sixth-largest bank in the country.

More about Marcus:Goldman Sachs Group Inc. is headquartered in New York and was founded in 1869. Marcus gets its name from the firm’s founder, Marcus Goldman. The company launched its savings bank under the Marcus name in 2016.

Is Marcus by Goldman Sachs the Right Bank for Me?

Yes, if you:

Are looking for a savings account or CD account with good rates.
Don’t need to open a checking account.
Want to do all of your banking digitally.

Savings

Marcus offers an online savings account, whose features include:

No minimum balance.
No fees.
Ability to transfer funds from and to linked bank accounts.
Direct deposit.
Competitive interest rate.
Interest compounded daily.
Transactions conducted online or over the phone, though deposits can be made via mail.

CDs

Marcus offers certificates of deposit with terms from six months to six years. Features include:

Minimum deposit of $500.
Competitive interest rates.
Ability to withdraw earned interest at any time, including each month.
If interest rates rise within 10 days of opening a CD, you get the higher annual percentage yield.
With a no-penalty CD, you can withdraw all of the principal and interest earned at any time after seven days with no loss of either.

7. PNC Bank

PNC Bank, based in Pittsburgh, was formed in 1983 through the merger of Pittsburgh National Bank and Provident Bank and has expanded through multiple acquisitions.

Assets: $549.3 billion
ATMs: ~60,000 (PNC and partner networks)
Branches: 2,600+ in 27 states and Washington, D.C.

PNC Bank is a full-service bank with branches in more than half of the states in the country, but location is important when it comes to opening a savings account. Rates vary depending on where you live. In some parts of the U.S., you could get a competitive rate, but in others, you get a return that’s barely better than storing your cash in your mattress.

Pros

Competitive interest rates on savings in some areas.
Most accounts provide for non-PNC ATM fee reimbursement.
Budgeting tools with Virtual Wallet.
PNC has increased its branch locations to 28 states plus the District of Columbia, spreading from coast to coast.

Cons

Low interest rates on savings unless you live in areas eligible for High Yield Savings.
Overdraft fee is $36.

Overview

PNC Bank had assets of $557.4 billion as of Dec. 31, 2023, making it the country’s sixth-largest bank. PNC Bank operates about 2,600 branches and 60,000 PNC and partner ATMs, mostly in the Midwest, Northeast, Southeast and Southwest. The bank offers checking accounts, savings accounts, credit cards, mortgages, prepaid cards, home equity loans and lines of credit, insurance, student loans, auto loans, personal loans and lines of credit, business banking, financial planning and wealth management products. Customers can make person-to-person transactions via Zelle using PNC’s app and deposit checks with remote check deposit.

More about PNC Bank: PNC Financial Services Group is headquartered in Pittsburgh and includes corporate, institutional and retail banking. PNC was formed in the merger of Pittsburgh National Bank and Provident Bank in 1983 and later added several other banks, including Riggs, Mercantile, Yardville, Sterling, National City, BankAtlantic, Flagstar and BBVA.

Is PNC Bank Right for Me?

Yes, if you:

Are looking for a national bank offering a wide variety of products.
Plan to visit a bank branch regularly.
Want to earn competitive interest rates on some savings accounts.

The bank offers three versions of its checking account with PNC online banking: Virtual Wallet, Virtual Wallet with Performance Spend and Virtual Wallet with Performance Select. Primary checking accounts are called Spend, and interest-bearing checking accounts are called Reserve. For all accounts, the overdraft fee is $36, up to four times per day. There is no fee for overdraft protection transfers from another PNC account. All Virtual Wallet accounts have no minimum deposit when opened online but $25 otherwise. Here are some other checking account features:

PNC Bank Virtual Wallet®

$7 monthly service fee, waived with at least $500 combined average balance in checking accounts, or at least $500 in monthly direct deposit, or account holder is 62 or older.
$3 fee per transaction at non-PNC ATMs.
No reimbursement for other banks’ ATM fees for basic Virtual Wallet.

Virtual Wallet® with Performance Spend

$15 monthly service fee, waived with at least $2,000 combined average balance in checking accounts, or at least $2,000 monthly in direct deposits, or at least $10,000 combined average balance in PNC deposit accounts.
Interest paid on balances of at least $2,000 in Spend account.
$3 fee per transaction at non-PNC ATMs.
First two fees at domestic or international non-PNC ATMs are reimbursed, and up to $5 for other bank’s ATM surcharge fees each statement cycle.
$5 discount on checks.

Virtual Wallet® with Performance Select

$25 monthly service fee, waived with at least $5,000 combined average balance in checking accounts, or at least $5,000 monthly in direct deposits, or at least $25,000 combined average balance in PNC deposit and investment accounts.
Interest paid on balances of at least $2,000 in Spend account.
No PNC fees for transactions at non-PNC ATMs.
$10 per month reimbursed for other banks’ ATM fees.
Free checks.
No charge for domestic wires.

Savings

Options for PNC Bank savings accounts vary depending on where you live. The competitive rates of PNC High Yield Savings and some relationship rates aren’t available everywhere. With Virtual Wallet, the savings account is called Growth. Customers can transfer funds into PNC Bank savings from PNC accounts or from accounts at other banks. Here are some features of PNC’s savings accounts:

Standard Savings

$5 monthly service fee for Standard Savings, waived with at least $300 average monthly balance, or $25 monthly auto transfer to savings from PNC checking account.
Minimum balance to earn APY is $1.
Unlimited deposits and up to six free withdrawals per month, with transactions above this limit costing $3 each.

PNC High Yield Savings

Competitive interest rates.
No minimum balance for High Yield or Virtual Wallet savings, although at least $1 is required to earn APY.
No monthly service fee for High Yield or Virtual Wallet savings.

S is for Savings

$5 monthly service fee, waived with at least $300 average monthly balance, or account holder is under age 18, or in checking accounts, or at least $5,000 monthly in direct deposits, or at least one Auto Savings transfer of $25 or more each monthly statement period from your PNC checking account.
Interest paid on balances of at least $1.
Unlimited deposits and up to six free withdrawals per monthly statement period.

CDs

PNC Bank offers certificates of deposit with terms from seven days to 10 years. Here are some features of PNC Bank’s CDs:

$1,000 minimum to open most CDs.
Low interest rates unless they are promotional CDs.
Early withdrawal penalties apply for balance withdrawn before maturity.

Money Market

PNC offers a Premiere Money Market account. Here are some of its features:

- No minimum opening deposit.
- $12 monthly service charge, waived with $5,000 average balance or if it is linked with a PNC checking account.
- Low interest rates.
- Higher interest rate with at least $2,000 in direct deposits monthly to PNC checking account, or five debit card or credit card purchases per month.

Business Checking

PNC Bank offers three kinds of business checking accounts. Each has a minimum opening deposit of $100. Balances earn no interest. PNC charges a $36 overdraft fee and a 3% foreign transaction fee. You can have up to 10 signers on a PNC business checking account.

Business Checking

$12 monthly account maintenance fee. Waive this fee by maintaining $500 as the average monthly balance, maintain a linked PNC Merchant Services account and generate a minimum of $500 in qualifying monthly processing deposits, or use a linked PNC business credit card to make a minimum of $500 in eligible purchases.
Up to 150 transactions each month are free. After that, $0.50 per transaction.
$5,000 cash deposited per month over the counter, at the night depository or via Quick Deposit at no charge; $0.30 per $100 deposited after that.
$3 per transaction at non-PNC ATMs.

Business Checking Plus

$22 monthly account maintenance fee. Waive this fee by maintaining $5,000 as the average monthly balance, maintain a linked PNC Merchant Services account and generate a minimum of $5,000 in qualifying monthly processing deposits, or use a linked PNC business credit card to make a minimum of $5,000 in eligible purchases.
No charge for up to 500 transactions per month; $0.50 per transaction after that.
$10,000 cash deposit per month over the counter, at the night depository or via Quick Deposit at no charge; $0.30 per $100 deposited after that.
$100 to open an account.
No PNC fee for using non-PNC ATMs.

Non-Profit Checking

$5 monthly account maintenance fee. Waive this fee by maintaining $500 as the average monthly balance.
No charge for up to 150 transactions per month; $0.50 per transaction after that.
$100 to open an account.
Available only to customers that qualify as a Non-Profit/Not-for-Profit organization.

8. Truist

Formed in 2019 by the merger of BB&T and SunTrust, Truist offers a broad range of personal and business banking products from its headquarters in Charlotte, North Carolina.

Assets: $527.5 billion
ATMs: ~2,800
Branches: 1,900+ in 17 states and Washington, D.C.

Truist has abandoned some onerous fees, but not all of them. While it doesn’t charge overdraft fees anymore, it does charge fees for some savings and money market accounts that exceed six withdrawals per month.

Pros

Mobile banking app is highly rated.
Interest compounded daily on savings and CDs.
No overdraft fees on most accounts.

Cons

Branches mostly in the East, with no branches in 33 states.
Low interest rates on savings and CDs.

Overview

Truist ranks as the seventh-largest bank in the country, with $527.5 billion in assets as of Dec. 31, 2023. Truist operates more than 2,100 financial centers in 17 states and Washington, D.C., and has about 3,000 ATMs. Truist offers checking accounts, savings accounts, CDs, prepaid cards, credit cards, mortgages, home equity loans and lines of credit, auto loans, personal loans and business banking options. Truist customers can send person-to-person payments with Zelle and can fund their accounts with mobile check deposit.

More about Truist Bank: Headquartered in Charlotte, North Carolina, Truist was created through a merger of BB&T and SunTrust banks in 2019.BB&T Corp. was founded in 1872 and was based in Winston-Salem, North Carolina. SunTrust Bank was founded in 1891 in Atlanta, Georgia.

Is Truist Bank Right for Me?Yes, if you:

Are looking for a large national bank with a wide variety of products.
Plan to regularly bank at a local branch.
Prioritize other features over competitive savings interest rates.

Checking

Truist offers two primary checking accounts:Truist One Checking and Truist Confidence Account. It also offers a Wealth Checking account available to clients with $1 million in investments with Truist. There are no overdraft fees for either One Checking or Confidence Account. Truist charges $2.50 or $3 per use of non-Truist ATMs. Here are some other features of Truist checking accounts:

Truist One Checking

Minimum opening deposit of $50.
Monthly maintenance fee of $12, which can be waived by making $500 or more in qualifying direct deposits monthly; or by maintaining a balance of $500 or more across your Truist accounts; or by having a personal Truist credit card, mortgage or loan; or by having a linked small business checking account; or by being a student under age 25.
No overdraft-related fees charged on this account.
The Negative Balance Buffer allows you to overdraw your account up to $100, restrictions to qualifying apply.
Non-Truist ATMs cost $3 to use domestically and $5 internationally.

Truist Confidence Account

Minimum opening deposit of $25.
Monthly maintenance fee of $5, which can be waived by making $500 or more in qualifying direct deposits monthly; making at least 10 qualifying transactions that debit your account; or by being a student under age 25.
No overdraft-related fees charged on this account.
No paper checks available.
Non-Truist ATMs cost $2.50 to use domestically and $5 internationally.

Savings

Truist offers two savings accounts, One Savings and Confidence Savings. They include these features:

One Savings

$50 minimum opening deposit.
$5 monthly maintenance fee, which can be waived by maintaining a $300 balance; scheduling at least a $25 transfer monthly into the account; if you are under age 18; or if you have any related checking product (except Confidence Account).
Low interest rates.
Interest compounded daily.

Confidence Savings

$25 minimum opening deposit.
No monthly maintenance fee.
No overdraft fees.
Interest compounded daily.

CDs

Truist offers certificates of deposit with terms from seven days to five years. For terms less than 32 days, the minimum deposit is $2,500. For 32 days and more, the minimum is $1,000. Truist CDs features include:

Low interest rates.
Interest compounded daily.
Must be opened at a branch.

Business Checking

Truist offers three different business checking accounts. They cater to different kinds of small businesses.

Simple Business Checking

No monthly maintenance fee.
No charge for the first 50 total combined transactions per monthly statement cycle.
Non-Truist ATMs cost $3 to use domestically and $5 internationally.

Dynamic Business Checking

Minimum opening deposit of $100.
Monthly maintenance fee of $20, which can be waived by maintaining $5,000 in combined average relationship ledger balance.
First 500 monthly transactions at no charge, then $0.50 per transaction.
$25,000 cash processing per month with no fees.

Community Checking

No monthly maintenance fee.
No charge for the first 225 total combined transactions, then $0.35 per transaction after.
Minimum opening deposit of $100.

Business Savings

Truist’s Simple Business Savings allows you to deposit up to 20 items and $5,000 in cash per month with no fee. You can avoid the $5 monthly fee by maintaining a minimum daily balance of $250, or an average monthly balance of $500, or have one recurring pre-authorized deposit or transfer of at least $100 each monthly period.

9. Capital One

Founded in 1988 and based in McLean, Virginia, Capital One operates a mix of branches and an extensive ATM network. A merger with Discover is expected to reflect in future rankings.

Assets: $490.6 billion
ATMs: 70,000+ fee-free (Capital One, MoneyPass, Allpoint)
Branches: 200+ in select states and Washington, D.C.

With its commercials featuring celebrities, Capital One has a national profile like banks that offer more branches throughout the country, though it is just an online bank for much of the U.S. Still, Capital One is plugged into a large ATM network and offers mostly fee-free banking and a competitive rate on savings.

Pros

No minimum balances or maintenance fees.
70,000 fee-free ATMs from either Capital One, MoneyPass or the Allpoint network.
Mobile app highly rated by customers.
Fee-free overdraft options.

Cons

Limited number of branches.
Interest compounded monthly on savings.

Overview

Capital One Financial Corp. is a financial holding company whose subsidiaries include Capital One, N.A., and Capital One Bank (USA), N.A. Capital One had $475.6 billion in total assets as of Dec. 31, 2023, making it No. 9 among the nation’s largest banks. It’s also the country’s fourth-largest credit card issuer. Capital One Bank has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and Washington, D.C., with more than 70,000 fee-free ATMs in its network.The bank offers checking accounts, savings accounts, CDs, credit cards, auto loans and business banking.

More about Capital One: Capital One is headquartered in McLean, Virginia. Capital One Financial Corp. started in 1988. In February 2024 Capital One announced that it planned to acquire Discover, another large bank and credit card issuer.

Is Capital One Bank Right for Me?

Yes, if you:

Are looking for a bank with a strong national presence that still offers competitive annual percentage yields.
Plan to do the majority of your banking online.
Are looking for a bank with small business checking and savings accounts.

Checking

Capital One’s checking account is called 360 Checking, which includes these features:

No minimum balance.
No maintenance fees.
Small interest rate on balances.
No minimum deposit to open the account.
Remote check deposit.
No foreign transaction fees.
No fee for overdraft transfer from Capital One savings.
Get access to your money up to two days sooner than payday with early paycheck.

Savings

Capital One has two savings accounts, one called 360 Savings and the other called Kids Savings, both of which include these features:

No minimum balance.
No maintenance fees.
Competitive annual percentage rates (though the rate of Kids Savings is lower).
Can transfer funds from and to other bank accounts.
Direct deposit.
Interest compounded monthly.
Remote check deposit.
Can schedule regular transfer of funds to savings with an automatic savings plan.

CDs

Capital One’s certificates of deposit, called 360 CDs, have terms from six months to five years and include these features:

No minimum deposit.
Interest compounded monthly.
Interest can be withdrawn monthly or annually.
Competitive rates.

Money Market

Capital One’s 360 Money Market includes these features:

No minimum balance.
No maintenance fees.
Competitive interest rate for balances of at least $10,000.
You can schedule regular transfer of funds to your money market account with an automatic savings plan.

Business Checking

Capital One offers two kinds of business checking accounts. There are unlimited fee-free digital transactions. Balances earn no interest. Capital One doesn’t charge a foreign transaction fee. Capital One charges a $35 overdraft fee and $2 for transactions made at non-Capital One ATMs.

Basic Checking

$15 monthly service fee. Waived if prior 30- or 90-day balance averages $2,000 or more.
$5,000 in cash deposits monthly at no charge. $1 for every $1,000 deposited after that.
$15 per incoming domestic wire and $25 per outgoing wire.

Enhanced Checking

$35 monthly service fee. Waived if prior 30- or 90-day balance averages $25,000 or more.
No fee for cash deposits, but must be under $40,000 per month.
Incoming wires are free, and the first five outgoing wires are free each month.
There are no fees or limits on monthly transactions.

Business Savings

Capital One offers one business savings account. You’ll get promotional rates for your first six months with the account. You’ll also get up to six free account withdrawals per monthly statement. To waive the $3 monthly fee, maintain a minimum balance of $300 or more.

10. TD Bank

A subsidiary of Canada’s Toronto-Dominion Bank, TD Bank is headquartered in Cherry Hill, New Jersey, and offers a variety of deposit and lending products.

Assets: $366.5 billion
ATMs: 2,600+
Branches: 1,100+ in 15 states and Washington, D.C.

For those who live on the East Coast and like the idea of visiting a bank on weekends, TD Bank offers some branches that not only have Saturday hours, but also Sundays, too. Watch out for overdrafts, though, because some accounts could hit you with a $35 fee up to three times in a day.

Pros

Branches open more hours than most banks – including Sundays.
24/7 phone customer service.
No foreign transaction fee for most debit cards.
Three kinds of CDs offered.
Checking account options for students and senior citizens.

Cons

Overdraft fee of $35 can be charged up to three times per day.
No branches beyond the East Coast.
Low interest rates on savings.
Unlike at other banks, you can’t usually avoid monthly fees by using direct deposit.

Overview

TD Bank offers services at about 1,100 locations along the East Coast. The bank has about 2,600 ATMs.TD Bank had assets of about $367.1 billion as of Dec. 31, 2023, making it the nation’s No. 10 largest bank.The bank offers checking accounts, savings accounts, credit cards, mortgages, prepaid cards, home equity loans and lines of credit, auto loans, personal loans, business banking, financial planning and wealth management products. TD Bank customers can use the Zelle app to send money person-to-person and can use remote check deposit.

More about TD Bank: TD Bank is a Cherry Hill, New Jersey-based national bank and subsidiary of Toronto-Dominion Bank. TD Bank was founded more than 150 years ago.

Is TD Bank Right for Me?

Yes, if you:

Live in one of the East Coast states where TD Bank is based.
Plan to do your banking at a local branch.
Prioritize other services over earning the highest annual percentage yield on your money.

Checking

TD Bank offers several checking accounts, including Simple Checking, Convenience Checking, Beyond Checking and Essential Banking. There is also an account for customers 60 or older. TD Bank charges $35 per overdraft, up to three times a day. For most accounts, it also charges a 3% foreign transaction fee. Except for Beyond Checking customers, TD Bank charges $3 for use of a non-TD Bank ATM. However, most TD Bank customers can use their debit cards internationally with no foreign transaction fee. Here are some features of different TD Bank checking accounts:

Simple Checking

$5.99 monthly service fee, which cannot be waived.
No minimum balance or opening deposit.
Discount on initial order of checks.

Convenience Checking

$15 monthly service fee, waived with a $100 minimum balance.
No minimum opening deposit.
Discount on initial order of checks.

Beyond Checking

$25 monthly service fee, waived with at least $5,000 in monthly direct deposits, or $2,500 minimum daily balance, or at least $25,000 in combined TD Bank accounts.
No minimum opening deposit.
No TD Bank fee for using non-TD Bank ATMs.
With $2,500 minimum daily balance, reimbursement of ATM fees from other banks.
No fee for overdraft protection transfers.
Two overdraft fees per year waived.
Balance earns a small amount of interest.
Free checks.

Essential Banking Account

$4.95 monthly service fee, which cannot be waived unless you’re ages 13-17.
No minimum balance or opening deposit.
No physical checks with this account.
No overdraft fees.

TD 60 Plus Checking

Waive the $10 monthly fee by maintaining a minimum daily balance of $250.
Interest-bearing account.
Free checks.
No minimum opening deposit.

Savings

TD Bank offers Simple Savings and Signature Savings accounts. Interest rates are tiered according to the account’s balance. There is a $3 charge for each withdrawal, transfer or check exceeding six transactions per month. Here are some other features of each account:

Simple Savings

$5 monthly service fee, waived for the first year with a linked TD Bank checking account and a monthly transfer of at least $25, or $300 minimum daily balance, or account holder is 62 or older.
Low interest rate.
No minimum opening deposit.

Signature Savings

$15 monthly service fee, waived with $10,000 minimum daily balance, or when linked to Beyond Checking or Relationship Checking or when the account is opened as an IRA.
Higher interest rates for customers with other TD Bank accounts.
Requires a balance of $100,000 to earn competitive interest rates.
No TD Bank fees at non-TD Bank ATMs.
Low standard interest rates.

CDs

TD Bank offers certificates of deposit with terms from three months to five years and three different kinds of CD accounts – Choice Promotional, No-Catch and Step Rate. Like savings accounts, CDs pay tiered interest rates. Here are some other features of TD Bank’s CD accounts:

Choice Promotional CDs

$250 minimum to open.
Rate increase with TD Bank checking account.
No monthly service fees.
Terms ranging from three months to five years.

No-Catch CDs

$250 minimum to open.
Ability to make one penalty-free withdrawal per term.
Low interest rates.
Terms are either six months or 12 months.

Step Rate CDs

Offered at three- and five-year terms, increase interest rates each year and allow penalty-free withdrawals on the anniversary of opening.
$250 minimum to open.
You have the option to make a full or partial withdrawal within 10 calendar days of the anniversary date of opening your account with no penalty.
No monthly service fees.
Low interest rates.

Money Market

The TD Growth Money Market account comes with checks and pays tiered interest rates, like the bank’s other savings accounts. Here are some other features:

$12 monthly service fee, waived with $2,000 minimum daily balance, or when linked to Beyond Checking, or when account holder is 62 or older.
No minimum opening deposit.
Rate increase with monthly transfer of at least $50 from TD Bank account.
Low interest rates.

Business Checking

TD Bank offers several business checking accounts, each tailored to different small business needs. One business checking account pays interest.

Business Simple Checking

$10 monthly service fee, which cannot be waived.
$25 minimum opening deposit.
Up to 200 deposited items free, then $0.75 for each item after.

Business Convenience Checking Plus

Waive the $25 monthly fee by maintaining a $1,500 combined minimum daily balance with one TD personal checking account.
$100 minimum opening deposit.
Up to 500 deposited items free, then $0.50 for each item after that.
Instant-issue debit card.

Business Premier Checking

Waive the $30 monthly fee by maintaining $40,000 combined balances in your business deposits and one TD personal checking account; or activate TD Merchant Solutions; or activate TD Digital Express; or have a TD Small Business Loan or Line of Credit.
$200 minimum opening deposit.
Up to 500 deposited items free, then $0.35 for each item after that.
No ATM fees at non-TD ATMs.

Business Interest Checking Plus

$15 monthly service fee, which can be waived with $2,500 minimum daily balance.
$100 minimum opening deposit.
Interest-bearing account.
Up to 200 deposited items free, then $0.50 for each item after.

Business Savings

With a TD Business Savings account, you get a low minimum opening deposit of $25. There’s also a low monthly fee of $5, which can be waived by maintaining a $500 minimum daily balance. Plus, you’ll earn competitive interest rates on your balance.

11. BMO Bank

BMO, based in Chicago and owned by Bank of Montreal, rebranded from BMO Harris in 2022 following its acquisition of Bank of the West.

Assets: $257 billion
ATMs: 1,400+ plus 40,000 in Allpoint network
Branches: ~1,000 in 22 states

BMO offers a wide range of products, from deposit accounts to credit cards. The bank has expanded its reach considerably with the completed aquisition of Bank of the West, and now has branches in 32 states. Like other larger banks, interest rates are also usually low.

Pros

Customers can use about 40,000 ATMs with no fee.
24/7 customer service via phone.
Variety of CDs offered.
Low minimum opening deposit for savings – $25.

Cons

Low rates on savings.

Overview

BMO Bank operates more than 1,000 branches and, as part of the Allpoint network, offers fee-free access to over 40,000 ATMs. BMO branches are 32 states. With over $265 billion in assets, BMO Bank ranked No. 13 in the country as of Dec. 31, 2023.The bank offers checking accounts, savings accounts, certificates of deposit, credit cards, health savings accounts, mortgages, home equity loans and lines of credit, auto loans, personal loans, business banking, insurance, financial planning and wealth management.

More about BMO Bank: BMO Bank is headquartered in Chicago and was founded in 1882 as Harris Bank. BMO Bank’s parent company is the Bank of Montreal. The Bank of Montreal and Harris Bank merged in 1984. In 2023 BMO acquired Bank of the West, doubling BMO’s footprint in the United States.

Is BMO Bank Right for Me?

Yes, if you:

Are looking for a large national bank with a growing profile.
Plan to do your banking in person.
Are looking for a bank that offers personal and small business accounts.

Checking

The bank offers these checking accounts: BMO Smart Advantage Account, BMO Smart Money Account and BMO Premier Account. Each overdraft costs $15, up to three times a day, if an account is overdrawn more than $50 and you opt in for overdraft coverage of ATM and debit card transactions. Otherwise, overdrafts are declined.On some accounts, the bank charges $3 for transactions at non-BMO ATMs. Foreign transaction fees are 2.8% of the total amount. Checking account features include:

BMO Smart Advantage Account

No monthly service fee if you opt for paperless statements (otherwise, $2 per month).
$25 minimum opening deposit.
No minimum balance.

BMO Smart Money Account

$5 monthly service fee (waived if you’re under 25), plus $2 monthly for paper statements.
$25 minimum opening deposit.
No overdraft fees because no overdrafts are approved.

BMO Relationship Account

$25 monthly service fee is waived if you have a $10,000 minimum daily balance, at least $25,000 combined in BMO Bank accounts, or a BMO Financial Advisors investment account.
$25 minimum opening deposit.
No BMO fees on use of non-BMO ATMs.
Up to $25 monthly reimbursement for other banks’ ATM fees.
No fee for overdraft protection transfers.
Earns a small amount of interest.

Savings

BMO Bank’s Savings Builder requires a $25 deposit to open. There is no monthly service fee. Interest rates for this account are low. Get a $5 reward for each month you save $200 or more, for the first year.

CDs

BMO Bank offers certificates of deposit with terms from three months to five years. You can open a CD with a $1,000 deposit. CD specials offer especially competitive rates.

Money Market

BMO Bank offers its Relationship Plus Market account. This account offers competitive interest rates depending on where you live and your account balance. The $10 monthly service fee can be waived by having a $5,000 minimum daily ledger balance.

Business Checking

BMO has four different business checking accounts, plus one for non-profits and one for large businesses with complex needs.

BMO Digital Business Checking Account

$10 monthly service fee is waived if you have an average collected balance of $500 or more.
$100 minimum opening deposit.
$3 fee on use of non-BMO Bank ATMs.

BMO Simple Business Checking

Get up to 100 free transactions and deposit up to $2,000 in cash with no fee, each statement cycle.
$10 monthly service fee is waived if you have an average collected balance of $100 or more.
$100 minimum opening deposit.

BMO Premium Business Checking

$15 monthly service fee is waived if you have an average collected balance of $1,500 or more.
$100 minimum opening deposit.
Get up to 200 free transactions and deposit up to $5,000 in cash with no charge, each statement cycle.

BMO Elite Business Checking

$25 monthly service fee is waived if you have an average collected balance of $10,000 or more, or a monthly combined business balance of $25,000 or more.
$100 minimum opening deposit.
Get up to 500 free transactions each statement cycle , and free domestic and foreign incoming wire transfers.
Earns a small amount of interest.

Business Savings

BMO Bank has one business savings account – Business Savings Builder.

$100 minimum opening deposit.
Waive the $10 monthly maintenance fee with an average collected balance of $500 or more.
$3 fee at non-BMO Bank ATMs.
Tiered interest rates.

12. First Citizens Bank

Founded in 1898 and based in Raleigh, North Carolina, First Citizens is the nation’s largest family-controlled bank. It expanded in 2023 with the acquisition of Silicon Valley Bank.

Assets: $228.6 billion
ATMs: 600+
Branches: 500+ in 22 states

While its savings rates aren’t competitive, First Citizens Bank has a wide reach with more than 550 branches and a large ATM network.

Pros

There are a wide variety of different checking account products for different needs, including for small business owners.
The First Citizens digital app allows you to track spending habits to manage your budget.
No minimum balance requirement for basic checking or savings products.

Cons

Interest rates are below many competitors, especially for its money market account and certificates of deposit.
Though it offers locations in more than 20 states, most First Citizens branch locations are in the Carolinas, Georgia and California.
Paperless statements are required for a free checking account.

Overview

Headquartered in Raleigh, North Carolina, First Citizens Bank is the primary subsidiary of First Citizens Bancshares and is the 16th-largest bank in the country by asset size, with $213.6 billion in assets. The bank was founded in 1898 and has since grown to offer more than 550 branch locations in 23 states.

More about First Citizens Bank:First Citizens Bank began more than 125 years ago with just $10,000 in capital as the Bank of Smithfield. It first expanded outside of North Carolina in 1994. It merged with CIT Bankin 2022, and CIT is now the online-only division of First Citizens. It purchased Silicon Valley Bank in 2023.

Is First Citizens Bank Right for Me?

Yes, if you:

Are based in one of the states where First Citizens has most of its branches, which includes California, Florida, Georgia, North Carolina, South Carolina and Virginia.
Are looking for a full-service bank with both personal and small business offerings.
Prioritize other benefits over consistently high annual percentage yields.

Checking

First Citizens Bank offers three consumer checking account products, two of which offer the opportunity to earn interest on your balance. Premier and Prestige account holders also access better interest rates on other products with First Citizens, including equity lines and CDs. ATM fees are $2.50 to use a non-First Citizens ATM. Overdraft charges are $10 per item, up to four times a day. Foreign transaction fees are 3% of each transaction amount.

Free Checking

Requires a $50 deposit to open, but no minimum to maintain.
No monthly maintenance fee with paperless statements.
Basic overdraft service included, with premium options available for a fee.

Premier Checking

Requires a $100 minimum opening deposit.
Waive the $18 monthly service fee with a $5,000 combined balance in eligible accounts, $4,000 in monthly ACH deposits, an equity line of $25,000, or a $10,000 consumer loan.
Earns interest on balance.

Prestige Checking

Requires a $100 minimum opening deposit.
Waive the $25 monthly service fee with a $25,000 combined balance in eligible accounts, $6,500 in monthly ACH deposits, an equity line of $100,000, or $25,000 consumer loan.
Unlimited ATM-fee reimbursement for non-First Citizens ATMs.
Earns interest.

Savings

First Citizens offers only one basic savings account option for its customers. Interest is compounded daily, but rates are fair compared to other major banks.

Online Savings Account

Requires a $50 minimum opening deposit, but no minimum balance to maintain.
Earns daily compounded interest.
First two withdrawals free per month, then $3 per withdrawal.

CDs

For those seeking a higher interest rate than a traditional savings account, First Citizens offers a select portfolio of certificate of deposit accounts. Its online CD product offers the best interest rate, but the term is limited to 11 months. In-branch CDs range from six months to five years with less competitive rates.

Online High-Yield Certificate of Deposit

Requires a minimum opening deposit of $5,000 and maximum of $250,000.
Only available in an 11-month term.
Offers competitive APY.

Certificates of Deposit

Requires a $500 minimum deposit to open.
Terms range from six months to five years with tiered interest rates.
Available at branch locations.

Money Market

First Citizens Bank offers one money market account to its customers.

Money Market

Waive the $10 monthly maintenance fee and transaction fees with a $1,000 daily balance.
Requires a minimum $500 deposit to open.
Earns tiered interest rates based on balance.

Business Checking

First Citizens boast five business checking account solutions with varying transaction limits and other perks. All business checking accounts require a $100 minimum deposit to open.

Business Banking

No monthly maintenance fee with paperless statements.
No minimum balance requirement.
Up to 100 free transactions per month.
Up to $5,000 in free cash processing per month.

Business Banking I

Waive the $25 monthly maintenance fee with a First Citizens merchant services account or $25,000 average daily balance.
Up to 250 free transactions per month.
Up to $10,000 in free cash processing per month.

Business Banking II

Waive the $50 monthly maintenance fee with a First Citizens merchant services account or $50,000 average daily balance.
Up to 500 free transactions per month.
Up to $15,000 in free cash processing per month.

Business Banking III

Waive the $75 monthly maintenance fee with a First Citizens merchant services account or $75,000 average daily balance.
Up to 750 free transactions per month.
Up to $20,000 in free cash processing per month.

CORE Business Checking

No minimum balance and no monthly fees.
Interest-bearing account.
Nonprofit business checking account.

Business Savings

You can open a First Citizens business savings account with just $100. You can avoid the $5 monthly fee by maintaining a $300 minimum daily ledger balance. You can also get free withdrawals and transfers by maintaining a $2,500 minimum daily ledger balance.

13. Morgan Stanley Private Bank

Morgan Stanley entered consumer banking through its 2020 acquisition of E-Trade Bank. It offers savings and checking accounts, often with competitive rates.

Assets: $223.8 billion
ATMs: Access to 2 million+ Mastercard, Maestro, or STAR network ATMs
Branches: None

Morgan Stanley Bank offers double the FDIC insurance amount of up to $500,000, along with free wire transfers, which makes it an attractive choice for existing Morgan Stanley investment and/or wealth management customers. However, its savings account might appeal to anyone looking for competitive rates.

Pros

Morgan Stanley’s savings account has a competitive APY.
Overall, there are very few fees, and they can be avoided in most cases.
You’ll get unlimited ATM fee refunds with a max-rate checking account.

Cons

There are no money markets offered.
Interest in the Max-Rate checking account is minimal.
Other than setting up direct deposit, other requirements for waiving Max-Rate checking fees can be tough for some to meet.

Overview

Morgan Stanley Bank is most known for its investment and wealth management services, but it also offers checking and savings accounts through its Morgan Stanley Private Bank division. To open a new account, you will actually apply through E-Trade, which was acquired by Morgan Stanley in 2020.

Morgan Stanley is one of the nation’s largest banking institutions, ranking 18th based on its asset value.

More about Morgan Stanley:Morgan Stanley is a leading global financial services company today, but it began back in 1935 with just 13 people. Today, it operates in 40 countries and has 80,000 employees.

Is Morgan Stanley Private Bank Right for Me?

Yes, if you:

Are only looking for a checking or savings account.
Prioritize earning high annual percentage yields on your balances.
Already have a relationship with E-Trade, or want to establish one.

Checking

Morgan Stanley offers two checking accounts: one that’s geared toward earning interest, and another that offers free checking (and still earns a competitive interest rate for a checking account). You can manage the accounts via the E-Trade mobile app.

Max-Rate Checking

Unlimited ATM fee refunds.
First checkbook is free.
$15 monthly fee can be waived by maintaining a monthly balance of $5,000 or setting up a direct deposit of $200 or more per month, or placing 30 stock trades during the prior calendar quarter, among other options.
Low APY.

Checking

No minimum balance.
No account fees.

Savings

There is only one savings account product offered by Morgan Stanley Private Bank, but it earns a strong APY and extra protection for your finances.

Premium Savings Account

Competitive APY.
No minimum deposit.
Double the FDIC insurance amount up to $500,000.

14. Citizens Bank

Based in Providence, Rhode Island, Citizens Bank serves both retail and commercial clients with a wide product range.

Assets: $220 billion
ATMs: ~3,000
Branches: 1,000+ in 14 states and Washington, D.C.

Citizens Bank is the 14th-largest bank in the U.S. with 1,100 branches and 3,200 ATMs – but only in 14 states and Washington D.C. That means 36 states don’t have access to a physical location. Citizens Bank offers a plethora of banking products, but if you’re looking for robust CD and savings options with competitive rates, you’re better off looking elsewhere.

Pros

Easy to avoid monthly service fees on checking and savings.
24/7 customer service via phone.
Get paid two days early through direct deposit.

Cons

No branches in 36 states.
Low interest rates on savings and CDs.
Few CD options.

Overview

Citizens Bank had $221.7 billion in assets as of Dec. 31, 2023, making it the 14th-largest bank in the U.S. Citizens Bank has 1,100 branches and 3,200 ATMs in 14 states and Washington D.C.The bank offers checking accounts, savings accounts, certificates of deposit, prepaid cards, credit cards, mortgages, student loans, auto loans, personal loans and financial planning. Citizens Bank customers can transfer money person-to-person using the Zelle app and fund their accounts with mobile check deposit. Citizens Bank is different from the similarly named First Citizens banks.

More about Citizens Bank: Citizens Financial Group Inc. is headquartered in Providence, Rhode Island. During the Great Recession, Citizens Bank sold branches in Indiana, New York and Chicago, about 240 in all.

Is Citizens Bank Right for Me?

Yes, if you:

Live in one of the 14 states where Citizens operates.
Are looking for a regional bank with a more personal touch.
Prioritize other features above earning the highest annual percentage yield possible.

Checking

Citizens Bank offers a few different checking accounts: One Deposit Checking, Citizens EverValue Checking, Citizens Quest Checking, Citizens Wealth Checking and a student account. The bank charges a $2.50 to $3 fee for use of non-Citizens ATMs for Citizens One Deposit Checking and Citizens EverValue Checking. Citizens Bank may assess a $35 overdraft fee, up to five times per day, with some accounts. Overdraft protection is available through a linked savings account or line of credit. Here are some other features of Citizens Bank checking accounts:

One Deposit Checking

$9.99 monthly service fee, which can be waived with one deposit per month.
No minimum balance.
No minimum opening deposit.
Get extra time to cover overdrafts with Citizens Peace of Mind.
$3 for using a non-Citizens ATM.

Citizens EverValue Checking

$5 monthly service fee, which cannot be waived.
No minimum balance.
No fee for overdrafts.
Lower fees for paper statements and non-Citizens ATMs.

Citizens Quest Checking

$25 monthly service fee, which can be waived with a minimum $25,000 combined balance in all Citizens Bank accounts or $5,000 in deposits to the primary checking account within the statement period.
No minimum opening deposit.
No Citizens Bank fee on non-Citizens ATM transactions.
Earns a small amount of interest.
$35 overdraft fee per item.
Get extra time to cover overdrafts with Citizens Peace of Mind.
No foreign transaction fees.
Free checks.

Citizens Private Client Checking

No monthly service fee, but you must have $200,000 combined balance in all Citizens Bank accounts and investments to qualify for this account.
No minimum opening deposit.
No Citizens Bank fee on non-Citizens ATM transactions, and charges by other banks are rebated.
$35 overdraft fee per item.
Get extra time to cover overdrafts with Citizens Peace of Mind.
Earns a small amount of interest (more than Quest rates).
Free checks, foreign exchange, wire transfers or paper statements.

Student Checking

No overdraft fees.
No monthly fees for individuals under the age of 25.
Unlimited ATM transactions at non-Citizens Bank ATMs with no fee charged.
Free customizable checks.

Savings

Citizens Bank offers three main savings accounts that match up with its checking accounts – One Deposit Savings, Quest Savings and Wealth Savings – for customers who have those checking accounts. Some features of the savings accounts include:

No minimum opening deposit.
$4.99 monthly service fee for One Deposit Savings, but the fee can be waived with any deposit in a month or a $200 minimum balance and no fee if you’re under 25 or over 65. A fee also isn’t charged the first four months after opening an account.
No monthly service fees for Quest Savings or Private Client Savings.
Low interest rates.
No Citizens Bank fee on non-Citizens ATM transactions for Quest Savings or Private Client Savings.

CDs

Citizens Bank currently offers CDs with 8- and 14-month terms. The minimum deposit for a CD is $1,000 for the 14-Month CD and $25,000 for the 8-Month CD. Interest rates are competitive, especially for the 8-Month CD.

Money Market

Citizens Bank has Personal Money Market, Citizens Quest Money Market and Citizens Wealth Money Market accounts, with the latter two open to customers who carry Citizens Quest or Citizens Wealth checking accounts and offering higher interest rates. There is no minimum balance to open a money market account. Only the Personal Money Market account charges a monthly service fee ($10), but the fee can be waived with a minimum daily balance of $2,500. All accounts come with checks, which are free for Citizens Quest and Citizens Wealth customers. Money market transactions other than deposits, ATM or in-branch, are limited to six per month. Money market accounts also can come with debit cards. Interest rates are average, even for promotional rates offered for new deposits of at least $25,000.

Business Checking

Citizens Bank offers three kinds of business checking accounts. Your deposit to open an account can be any amount. Citizens Bank charges a 3% foreign transaction fee and a $3 fee per transaction at non-Citizens Bank ATMs. The bank offers free savings overdraft transfers and an overdraft line of credit. Citizens Bank’s overdraft fee is $39 per item paid for business accounts.

Clearly Better Business Checking

Up to 200 check transactions per statement period at no charge, 50 cents per additional transaction.
No monthly maintenance fee.

Business Advisor Checking

Up to 500 check transactions per statement period at no charge, 30 cents per additional transaction.
$25 monthly maintenance fee, waived when average daily balance is $10,000 or when monthly combined balance is $35,000.

Citizens Analysis Business Checking

$20 monthly maintenance fee, which cannot be waived, although the cost can be offset using an earnings credit.
Account is for high-volume businesses that require comprehensive banking services.

Business Savings

Citizens Bank has one business savings account. Its interest rate is low, but there’s no minimum opening deposit required. You can also get the $4.99 monthly service fee waived by having an average daily balance of $500 or more. What’s more, you’ll automatically get a fee waiver on the first four months you have the account.

15. Fifth Third Bank

Headquartered in Cincinnati, Fifth Third Bank traces its roots to 1858 and offers a full suite of financial services.

Assets: $211.9 billion
ATMs: 2,400+ plus access to 40,000+ fee-free partner ATMs
Branches: 1,000+ in 11 states

Fifth Third offers a multitude of banking products, and its checking accounts for students, military members and people with disabilities are just a few that come with low or waivable monthly fees. Plus, its extensive network of more than 50,000 ATMs can be found in retailers such as Kroger, Costco and Walgreens.

Pros

Extensive ATM network.
No minimum opening deposit for checking or savings accounts.
Penalty for early withdrawal of CDs does not include loss of principal.

Cons

Low interest rates on savings.
Branches in only 11 states.
Overdrafts cost $37 per occurrence, up to three per day.

Overview

Fifth Third Bank is the nation’s 15th-largest bank by asset size, with $213.7 billion in assets as of Dec. 31, 2023.Fifth Third has about 1,200 branches and more than 2,400 ATMs in 11 states in the Southeast and Midwest.Fifth Third offers a wide variety of products, from deposit accounts to credit cards to mortgages. In addition to its own ATMs, Fifth Third is part of the Allpoint, Presto and 7-Eleven networks, giving customers access to about 50,000 fee-free ATMs.

More about Fifth Third Bank: Fifth Third Bancorp, headquartered in Cincinnati, is the parent company of Fifth Third Bank. Fifth Third traces its roots to 1858. In recent years, Fifth Third acquired fintech companies including Provide and Dividend Finance.

Is Fifth Third Bank Right for Me?

Yes, if you:

Are looking for a regional bank in your area of the country.
Want a bank for all of your small business needs.
Prioritize other benefits over consistently high annual percentage yields.

Checking

Fifth Third Bank offers several checking accounts, including Momentum Checking, Preferred Checking, Express Banking, Military Checking, Student Checking and ABLE Checking. There is no minimum opening deposit for checking accounts. Fifth Third charges $3 per transaction ($5 outside the U.S.) for using non-Fifth Third ATMs, though Fifth Third’s network includes about 40,000 ATMs nationwide. The bank charges $37 per overdraft, up to three per day. Customers must opt in for overdraft coverage of debit card transactions; otherwise, debit card transactions causing an overdraft will be declined and no fee charged. Here are some other features of Fifth Third checking accounts:

Momentum Checking

No monthly service fee.
No minimum balance.
No fee for overdrafts.
Get your paycheck up to two days early, without a fee, with Early Pay.

Preferred Checking

$25 monthly service fee can be waived with a combined balance of at least $100,000 in Fifth Third accounts at any point during the month.
No fee for overdrafts.
Earns a small amount of interest.
Up to 10 fee waivers per month on non-Fifth Third ATMs.
Lower rates on Fifth Third loans.
Free checks.
Free Fifth Third Identity Alert.
Free safe deposit box.

Express Banking

No monthly service fee.
No minimum balance.
No overdraft fees.
No checks available.

Student Checking

No minimum deposit.
No minimum balance.
For kids or students ages 13 and up.
Includes debit card and unlimited check writing.

Military Checking

No monthly service fee if you open a Momentum Checking account.
10 free non-Fifth Third ATM transactions per month.
Get your paycheck up to two days early, without a fee, with Early Pay.

ABLE Checking

This account allows people with disabilities to create tax-advantaged savings accounts. Money in ABLE accounts can be used for qualified disability-related expenses, such as housing, transportation, and education.
Waive the $2 monthly service fee by having an average monthly balance of $250 or more, or sign up for paperless statements.
No overdraft fees.
Unlimited check writing.
Interest-bearing account.

Savings

Fifth Third Bank offers one savings account, Momentum Savings. Here are some features of the account:

Momentum Savings

$5 monthly service fee can be waived if you’re enrolled in Fifth Third Military Banking, or an account holder is younger than 18, or you maintain an average balance of at least $500 or you have a Fifth Third checking account.
No minimum open deposit.
Earn small amounts of interest.

CDs

Fifth Third offers certificates of deposit with terms of seven days to seven years. Here are some features of the bank’s CDs:

Interest is compounded daily for some CDs.
Interest may be withdrawn monthly, quarterly, semiannually or annually during a CD’s term.
Standard CDs require a minimum deposit of $500
Low interest rates on standard CDs.
Promotional CDs require a minimum deposit of $5,000 but have competitive rates.
Penalty for early withdrawal does not include loss of principal.

Money Market

The Fifth Third Relationship Money Market account has a $5 monthly service fee, which can be waived if you maintain a monthly balance of $500 or have a Fifth Third checking account, or are under 18 or are enrolled in Fifth Third Military Banking. The account has low interest rates but does give you the ability to write checks.

Business Checking

Here are some other features of Fifth Third Bank’s business checking accounts:

Business Standard

Waive the $10 monthly service fee by maintaining a combined total balance of $1,000 across your business checking, savings and CDs; spending $500 a month on your Fifth Third business credit cards; or having a Fifth Third Private Bank or Fifth Third Preferred Checking account with a completed Relationship Consent form10; or your business is a charitable non-profit organization and you provide proof of 501(c)(3) tax status from the IRS.
Up to 100 transactions free each month, then $0.50 per transaction.
Up to $5,000 cash deposits free each month, then $0.003 per dollar deposited.

Business Premium

$25 monthly service fee can be waived with a monthly average balance of at least $25,000 across your business checking, savings and CDs; or by having a Fifth Third Business Loan or Line of Credit; or by having Merchant Services and spending at least $500 per month across your Fifth Third business credit cards.
Up to 500 transactions free each month, then $0.50 per transaction.
Up to $10,000 cash deposits free each month, then $0.003 per dollar deposited.

Business Elite

$50 monthly service fee can be waived with a monthly average balance of at least $50,000 across your business checking, savings and CDs; or by having a Fifth Third Business Loan or Line of Credit; or by having Merchant Services and spending at least $500 per month across your Fifth Third business credit cards.
Up to 1,000 transactions free each month, then $0.50 per transaction.
Up to $25,000 cash deposits free each month, then $0.003 per dollar deposited.
Get paid faster and pay others faster too with ACH Initiation.

Business Savings

You can choose from two different business savings accounts at Fifth Third Bank.

Business Savings

Designed for business customers with short-term savings and investment needs.
Waive the $5 monthly fee by maintaining an average monthly collected balance of $10,000 or more.
Get up to 20 deposited items and three withdrawals per month for free.

Business Relationship Savings

No minimum deposit required to open a checking or savings account.
Get up 100 free deposits and three free withdrawals each month.
No monthly maintenance fee.
Tiered interest rates.

16. M&T Bank

Founded in 1856, M&T Bank operates from Buffalo, New York, providing personal, business, and commercial banking products.

Assets: $209.8 billion
ATMs: 1,600+
Branches: Nearly 1,000 in 11 states and Washington, D.C.

Huntington has an assortment of checking accounts from which to choose, with options to waive monthly fees and avoid overdraft fees and even earn interest. However, consumers earn low rates on money market accounts unless they maintain a steep balance, and its standard CD rates aren’t very competitive, either.

Pros

24-Hour Grace period to avoid overdrafts
Asterisk-Free Checking has no monthly service fee and no minimum deposit
No charge for overdraft protection transfers

Cons

Branches in only 11 states
Low rates on savings and CDs

Overview

Huntington National Bank is a regional bank with assets of $188.7 billion as of Dec. 31, 2023, ranking No. 20 in the U.S.Huntington National Bank has more than 1,000 branches and 1,600 ATMs across 11 states.Huntington National Bank offers checking accounts, savings accounts, money market accounts, certificates of deposit, credit cards, mortgages, home equity lines of credit and loans, auto loans, personal loans, wealth management, investing and insurance services.

More about Huntington National Bank: Huntington Bancshares Inc. is a bank holding company headquartered in Columbus, Ohio. Its principal subsidiary is Huntington National Bank, which was founded in 1866.

Is Huntington National Bank Right for Me?

Yes, if you:

Live in one of the 11 states where Huntington has branches
Are looking for a regional bank with a wide variety of accounts
Value other benefits over earning the highest annual percentage yield possible

Checking

Huntington National Bank offers Asterisk-Free Checking, Huntington Perks Checking and Huntington Platinum Perks Checking accounts. Huntington charges $15 for overdrafts, up to three per day, but provides a $50 safety zone that won’t trigger fees and gives a 24-hour grace period to rebalance your account. Customers generally have to opt in for overdraft coverage of ATM and debit card transactions. Huntington does not charge an overdraft protection transfer fee. Here are features of Huntington’s checking accounts:

Asterisk-Free Checking

No monthly service fee
No minimum opening deposit
Non-Huntington ATMs cost $3.50 per transaction

Huntington Perks Checking

$10 monthly service fee is waived with $1,000 in total monthly deposits or $5,000 in combined balances in Huntington deposit and investment accounts
No minimum opening deposit
Earns a small amount of interest
No Huntington fees on the first five withdrawals per month at non-Huntington ATMs. Huntington reimburses the first five ATM withdrawal fees per month charged by other banks
Credit score monitoring

Huntington Platinum Perks Checking

$25 monthly service fee is waived with at least $25,000 in combined balances in Huntington deposit and investment accounts
No minimum opening deposit
Earns a small amount of interest (though more than Huntington Perks Checking)
No Huntington fees on withdrawals at non-Huntington ATMs. Huntington reimburses ATM withdrawal fees charged by other banks
Free checks
Credit score monitoring

SmartInvest Checking

No monthly services fee, overdraft fees, wire or money movement fees
Credit score monitoring
To maintain this account, must have a total relationship balance of at least $100,000
No fees at non-Huntington ATMs

Savings

Huntington National Bank offers Huntington Premier Savings and Huntington Relationship Savings accounts. Both accounts have low interest rates. For Huntington Premier Savings, the minimum opening deposit is $50; there is none for Huntington Relationship Savings. Huntington Premier Savings charges a $4 monthly service fee unless you maintain an average daily balance of at least $300 or have a checking account. Huntington Relationship Savings charges a $10 monthly service fee unless you maintain an average daily balance of $2,500 or have a Huntington Perks Checking or a Huntington Platinum Perks Checking account.

CDs

Huntington National Bank offers certificates of deposit with terms from one month to six years and minimum deposits of $1,000. It also offers jumbo certificates of deposit with terms from one week to five years and minimum deposits of $100,000. Interest rates are low across the board.

Money Market

Huntington National Bank offers three different money market accounts. One of them is a money market IRA.

Relationship Money Market Account

Waive the $25 monthly maintenance fee by having a Huntington Perks Checking or Huntington Platinum Perks Checking account, or by maintaining an average daily balance of $25,000
Earns high APY with a minimum balance of $25,000
$3.50 charge at non-Huntington ATMs

SmartInvest Money Market Account

There’s no minimum opening deposit, but to open, you must have a SmartInvest Checking account
No monthly service fee, overdraft fees, ATM fees, and wire transfer or money movement fees
Unlimited withdrawals and free checks

Money Market IRA

No monthly service fee
Earn higher APY on larger balances
Minimum opening deposit of just $1
Bank does not charge early withdrawal penalty

Business Checking

Huntington National Bank offers three different business checking accounts. There is a $36 overdraft fee, with a maximum of three fees per day, except for Unlimited Plus Business Checking, which has a maximum of one per day.

Business Checking 100

No monthly maintenance fees
Get 100 monthly transactions for free
Deposit up to $2,500 in cash or currency per month in-branch or at ATMs for free. After, there’s a $0.30 fee for each $100 deposited

Unlimited Business Checking

Made for businesses with higher checking activity and larger cash flow needs
$20 monthly maintenance fee can be waived with a balance of $10,000, or by maintaining a qualifying personal checking account
Unlimited transactions
Get up to $10,000 in cash or currency deposits per month at branches or ATMs for free. After, there’s a $0.30 fee for each $100

Unlimited Plus Business Checking

Made for bigger businesses with high monthly transaction volume and treasury management needs
$40 monthly maintenance fee can be waived with a balance of $50,000, or by maintaining a qualifying personal checking account
Unlimited transactions
Get up to $25,000 in cash or currency deposits per month at branches or ATMs for free. After, there’s a $0.30 fee for each $100

Business Savings

Huntington National Bank offers its Business Premier Savings Account. Primarily designed for businesses carrying an average balance of less than $10,000, you can waive the $5 monthly service fee by maintaining an average balance of $500 or more. There’s a $3.50 fee for using non-Huntington ATMs.

17. Huntington National Bank

Established in 1866 and headquartered in Columbus, Ohio, Huntington offers diverse banking and lending options.

Assets: $208.1 billion
ATMs: 1,600+
Branches: 1,000+ in 13 states

Pros

24-Hour Grace period to avoid overdrafts
Asterisk-Free Checking has no monthly service fee and no minimum deposit
No charge for overdraft protection transfers

Cons

Branches in only 11 states
Low rates on savings and CDs

Overview

Is Huntington National Bank Right for Me?

Yes, if you:

Live in one of the 11 states where Huntington has branches
Are looking for a regional bank with a wide variety of accounts
Value other benefits over earning the highest annual percentage yield possible

Checking

Asterisk-Free Checking

No monthly service fee
No minimum opening deposit
Non-Huntington ATMs cost $3.50 per transaction

Huntington Perks Checking

$10 monthly service fee is waived with $1,000 in total monthly deposits or $5,000 in combined balances in Huntington deposit and investment accounts
No minimum opening deposit
Earns a small amount of interest
No Huntington fees on the first five withdrawals per month at non-Huntington ATMs. Huntington reimburses the first five ATM withdrawal fees per month charged by other banks
Credit score monitoring

Huntington Platinum Perks Checking

$25 monthly service fee is waived with at least $25,000 in combined balances in Huntington deposit and investment accounts
No minimum opening deposit
Earns a small amount of interest (though more than Huntington Perks Checking)
No Huntington fees on withdrawals at non-Huntington ATMs. Huntington reimburses ATM withdrawal fees charged by other banks
Free checks
Credit score monitoring

SmartInvest Checking

No monthly services fee, overdraft fees, wire or money movement fees
Credit score monitoring
To maintain this account, must have a total relationship balance of at least $100,000
No fees at non-Huntington ATMs

Savings

CDs

Money Market

Huntington National Bank offers three different money market accounts. One of them is a money market IRA.

Relationship Money Market Account

Waive the $25 monthly maintenance fee by having a Huntington Perks Checking or Huntington Platinum Perks Checking account, or by maintaining an average daily balance of $25,000
Earns high APY with a minimum balance of $25,000
$3.50 charge at non-Huntington ATMs

SmartInvest Money Market Account

There’s no minimum opening deposit, but to open, you must have a SmartInvest Checking account
No monthly service fee, overdraft fees, ATM fees, and wire transfer or money movement fees
Unlimited withdrawals and free checks

Money Market IRA

No monthly service fee
Earn higher APY on larger balances
Minimum opening deposit of just $1
Bank does not charge early withdrawal penalty

Business Checking

Business Checking 100

No monthly maintenance fees
Get 100 monthly transactions for free
Deposit up to $2,500 in cash or currency per month in-branch or at ATMs for free. After, there’s a $0.30 fee for each $100 deposited

Unlimited Business Checking

Made for businesses with higher checking activity and larger cash flow needs
$20 monthly maintenance fee can be waived with a balance of $10,000, or by maintaining a qualifying personal checking account
Unlimited transactions
Get up to $10,000 in cash or currency deposits per month at branches or ATMs for free. After, there’s a $0.30 fee for each $100

Unlimited Plus Business Checking

Made for bigger businesses with high monthly transaction volume and treasury management needs
$40 monthly maintenance fee can be waived with a balance of $50,000, or by maintaining a qualifying personal checking account
Unlimited transactions
Get up to $25,000 in cash or currency deposits per month at branches or ATMs for free. After, there’s a $0.30 fee for each $100

Business Savings

18. American Express National Bank

Operating online from Sandy, Utah, American Express National Bank offers high-yield savings, CDs, and other deposit accounts.

Assets: $203.4 billion
ATMs: 1.5 million+ worldwide
Branches: None

While American Express National Bank has no brick-and-mortar locations, it does offer a laundry list of perks by way of compensation. There are no minimum balances or fees (on checking or savings accounts), you can withdraw interest on CDs before they reach full maturity and the bank offers competitive interest rates on its savings accounts.

Pros

Higher interest rates on savings.
No minimum balances or fees.
You can withdraw interest on CDs before maturity.

Cons

No branches.

Overview

An online bank, American Express National Bank offers savings accounts, checking accounts, certificates of deposit and personal loans. American Express National Bank has no branches. As of Dec. 31, 2023, it had $180.4 billion in assets, making American Express National Bank the No. 23-largest bank in the country.

More about American Express:American Express Co. is a New York-based payments company. The company was founded in 1850 and is known as an issuer of credit cards. AmEx opened its online bank in 2009.

Is American Express National Bank Right for Me?

Yes, if you:

Are comfortable doing your banking online.
Looking to earn competitive annual percentage yields across your accounts.
Want to avoid paying monthly fees.

Checking

American Express offers one checking account, whose features include:

No minimum balance.
No fees.
Ability to transfer funds from and to linked bank accounts.
Competitive interest rate.
Remote check deposit.
ATM card.

Savings

American Express offers one savings account, its High Yield Savings account, whose features include:

No minimum balance.
No fees.
Ability to transfer funds from and to linked bank accounts.
Competitive interest rate.
Interest compounded daily.

CDs

American Express offers certificates of deposit with terms from 11 months to five years. Features include:

No minimum deposit.
Interest compounded daily.
Ability to withdraw earned interest each month.

Business Checking

American Express offers one business checking account. You cannot make cash deposits into the account. There is no ATM fee when using the MoneyPass network, and American Express doesn’t charge for using ATMs outside of the network, though other ATM owners may charge fees. Other features of the account include:

As a welcome bonus, earn membership rewards that can be converted to deposits.
No monthly maintenance fees.
No minimum opening deposit.
No minimum balance.
No transaction limits or fees.
Earn a competitive APY on balances up to $500,000.
Free incoming wires.
No overdraft fees.
Outgoing domestic wire: $20.
Foreign transaction fee: 2.7%.

19. KeyBank

With a history spanning over 190 years, Cleveland-based KeyBank offers deposit, lending, and investment services across multiple states.

Assets: $185.7 billion
ATMs: 40,000+ KeyBank and Allpoint
Branches: 900+ in 16 states

Its nationwide network of ATMs might counteract its lack of physical branches outside of 15 states, and the array of checking options can meet almost any customer’s needs. However, it’s worth noting the less-competitive rates on its savings, money market and CDs.

Pros

Two free checking accounts, plus one interest checking account.
No fee for overdraft protection transfers.
24/7 customer service by phone.

Cons

Low interest rates on savings and CDs.
Branches and ATMs are located in only 15 states.
Fairly high minimums for CD accounts.

Overview

KeyBank had assets of $185.9 billion as of Dec. 31, 2023, making it No. 22 on the list of the biggest U.S. banks.KeyBank provides deposit, lending, cash management and investment services to individuals and businesses in 15 states – Alaska, Colorado, Connecticut, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont and Washington. KeyBank operates a network of around 1,000 branches and KeyBank customers have access to the AllPoint Network of over 40,000 ATMs nationwide.KeyBank customers can use the Zelle digital payment app via online banking to make person-to-person payments and add funds with mobile check deposit.

More about KeyBank: KeyCorp was founded in 1825 in Albany, New York, and now is headquartered in Cleveland.Since 2021, KeyBank has acquired a number of digital businesses including digital platform XUP Paymentsand student loan counselling fintech GradFin.

Is KeyBank Right for Me?

Yes, if you:

Are looking for a full-service personal or small-business bank.
Prioritize other benefits beyond high savings rates.
Live in one of the 15 states where KeyBank has branches.

Checking

KeyBank offers several kinds of checking accounts, including the KeyBank Hassle-Free Account, Key Smart Checking, and Key Select Checking. The bank also offers a student checking account. Only the Key Select Checking account charges monthly service fees, though they can be waived. Equally important, Key Select Checking is an interest-bearing account.

In September 2023, KeyBank updated its overdraft policy. If your account is overdrawn by $20 or less you won’t be charged a fee. The bank also reduced its overdraft fees to $20, and capped them at three transactions per day. For some accounts, KeyBank charges $3 per transaction for using non-KeyBank ATMs and $5 for ATMs outside of the U.S. Here are some features of KeyBank checking accounts:

KeyBank Hassle-Free Account

$10 minimum opening deposit.
No monthly service fee.
No paper checks.
No overdraft services or fees.

Key Smart Checking

No monthly service fee.
$10 minimum opening deposit.

Key Select Checking

$25 monthly service fee, which can be waived with at least a $15,000 combined balance in KeyBank accounts or a minimum $5,000 total in monthly direct deposits from your employer.
$50 minimum opening deposit.
No KeyBank fees for using non-KeyBank ATMs.
Unlimited reimbursement for other banks’ ATM fees.
Earns a small amount of interest.
Free checks.
Interest-bearing checking account

Savings

KeyBank offers three different savings accounts. These include Key Active Saver, Key4Kids Savings Account, and Health Savings Account. Interest for all accounts is compounded daily; however, depending on the account, the interest rates may be low. Here are some other features of the account:

Key Active Saver

$10 minimum opening deposit.
$4 monthly service fee, which can be waived if you have a KeyBank checking account.
First four withdrawals in a month are free; withdrawals beyond that have a $1 fee.

Key4Kids Savings Account

$10 minimum opening deposit.
No monthly service fee.
Interest is compounded daily.
Available to children under age 18 when the account custodian is a KeyBank deposit or credit customer.

Health Savings Account

No minimum opening deposit.
No monthly service fee and no annual fee.
Tiered interest rates based on balance and compounded daily.
Employee contributions are made pre-tax, and interest and withdrawals are tax free.
You and your employer can contribute to your account.

CDs

KeyBank has certificates of deposit accounts, including Short-Term CDs, Tiered Long-Term CDs, and High-Yield Jumbo CDs. Terms range from from seven days to 10 years. KeyBank’s CDs require a minimum deposit of $2,500, except for the High-Yield Jumbo CDs, which require more.

Short-Term CDs

$2,500 minimum opening deposit.
Terms of 7 days to less than 6 months.
Interest is compounded daily.
Get higher interest rates with Relationship Rewards when available when you pair your CD account with one of several types of checking accounts.

Tiered Long-Term CDs

$2,500 minimum opening deposit.
Terms of 6 months to 10 years.
Interest is compounded daily.
Get higher interest rates with Relationship Rewards when available when you pair your CD account with one of several types of checking accounts.

High-Yield Jumbo CDs

$100,000 minimum opening deposit.
Terms of 7 days to 120 months.
Interest is compounded daily.
Get higher interest rates with Relationship Rewards when available when you pair your CD account with one of several types of checking accounts.

Money Market

KeyBank previously had more money market accounts available, but is now down to one personal account, the Key Select Money Market Savings account. Its minimum opening deposit is on the higher side. However, the account comes with many benefits.

Key Select Money Market Savings

$5,000 minimum opening deposit.
$20 monthly service fee, which can be waived if you have a KeyBank consumer relationship package checking account or maintain a minimum daily balance of at least $25,000 during the statement cycle.
Unlimited check writing
Tiered interest rates based on balance and compounded daily.

Business Checking

KeyBank offers three kinds of business checking accounts, including the KeyBank Basic Business Checking, KeyBank Business Interest Checking, and Key Business Reward Checking. All business checking accounts require minimum deposits to open and monthly service fees, though these can be waived.

KeyBank Basic Business Account

$25 minimum opening deposit.
$5 monthly service fee, which can be waived with at least an average balance of $1,000 or combined balance in KeyBank accounts of $10,000 or more.
200 combined transactions per month, plus unlimited ACH and bill pay transactions.

KeyBank Business Interest Checking

$15 monthly service fee, which can be waived with at least a $5,000 minimum or combined balances in KeyBank accounts of $15,000 or more.
$25 minimum opening deposit.
100 combined transactions per month, plus unlimited ACH and bill pay transactions.
Unlimited check writing.
Competitive interest rate.

Key Business Reward Checking

$25 monthly service fee, which can be waived with at least a $7,500 average daily balance or combined balances in KeyBank accounts of $20,000 or more.
$25 minimum opening deposit.
500 combined transactions per month, plus unlimited ACH and bill pay transactions.
Exclusive discounts on products and services.

Business Savings

Small business owners can open a Key Business Saver Account with only $50. There’s a monthly maintenance fee of $4. However, it can be avoided by maintaining a minimum ledger balance of $300 or by having $600 or more average ledger balance each monthly statement period. Yields are fairly low.

20. Ally Bank

Headquartered in Detroit, Ally Bank is an online-only bank. It offers many deposit accounts, including checking, savings, money market and certificate of deposit, as well as credit cards, mortgages, auto loans and investment products.

Assets: $182.3 billion
ATMs: 75,000+ via Allpoint and MoneyPass
Branches: None

As an online-only bank, Ally Bank has much to recommend it: lack of maintenance fees, no account minimums, access to a large ATM network and competitive rates on savings. However, you can’t visit any branches, and you also aren’t able to deposit cash.

Pros

No minimum balances or maintenance fees.
Competitive rate on savings.
$10 reimbursement available monthly for non-Allpoint ATM fees.
Live phone customer service 24/7.
Free checks.

Cons

Can’t deposit cash into any accounts.
No branches.

Overview

Ally Bank operates online and offers checking accounts, savings accounts, money market accounts, certificates of deposit, credit cards, mortgages, auto loans and investment products. Ally had $186.1 billion in assets as of Dec. 31, 2023, ranking it No. 21 among American banks. The company has 11,700 employees and over 11 million customers. Though Ally doesn’t have any branches, customers can access their accounts at about 43,000 ATMs via Allpoint, an interbank network that provides surcharge-free ATM access to customers of participating financial institutions.

More about Ally: Ally Financial Inc. is based in Detroit. Ally began as GMAC, an auto financing company, in 1919. After establishing GMAC Bank in 2000, the company formed Ally Bank in 2009.

Is Ally Bank Right for Me?

Yes, if you:

Are happy to do all of your banking online.
Care most about earning high annual percentage yields on your savings.
Want to avoid fees, even ones that are easy to waive.

Checking

Ally Bank offers an interest-bearing checking account, which includes these features:

No minimum balance.
No maintenance fees.
No fees on domestic and international income wire transfers.
Out-of-network ATM reimbursement up to $10 per statement cycle.
Remote check deposit.
Get paid up to two days sooner with early direct deposit.
No fee for overdraft transfer service, which shifts funds from linked Ally savings or money market accounts to cover an overdraft.
Earns interest.

Savings

Ally offers one savings account, which includes these features:

No minimum balance.
No maintenance fees.
Competitive interest rate.
Interest compounded daily.
No overdraft fees.
Direct deposit.
Transactions conducted online, on the phone or via mail.
Remote check deposit.

CDs

Ally offers three kinds of certificates of deposit – High Yield, Raise Your Rate and No Penalty. Here are some of the CD features:

High Yield CD

No minimum deposit.
Interest compounded daily.
If interest rates rise within 10 days of opening a CD, you get the higher APY.
No monthly fee.

Raise Your Rate CD

With Raise Your Rate, you can get an increased annual percentage yield once on a two-year CD and twice on a four-year.
No monthly fee.
No minimum deposit.

No Penalty CD

No minimum deposit.
No monthly fee.
You can withdraw your full balance, including interest, without penalty at any time as long as it is after the first six days of funding your account.

Money Market

Ally offers one money market account, whose features include:

No maintenance fees.
No minimum balance.
Same features as an Ally savings account, with the addition of a debit card and free checks.

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From Chase to Ally: America’s 20 Banking Giants Ranked

1. JPMorgan Chase & Co.

Overview

Is JPMorgan Chase Bank Right for Me?

Chase High School Checking

Chase College Checking

Chase Private Client Checking

Chase Business Total Savings

Chase Business Premier Savings

2. Bank of America

Overview

Is Bank of America Right for Me?

Featured CD

Fixed Term CD

Flexible CD

3. Citibank

Overview

Is Citibank Right for Me?

Access Checking

Regular Checking

Citi Priority

Citigold

Citigold Private Client

Streamlined Checking

Flexible Checking

Interest Checking

Analyzed Checking

4. Wells Fargo

Overview

Is Wells Fargo Bank Right for Me?

Business Market Rate Savings

Business Platinum Savings

5. U.S. Bank

Overview

Is U.S. Bank Right for Me?

6. Goldman Sachs (Marcus)

Overview

Is Marcus by Goldman Sachs the Right Bank for Me?

Savings

CDs

7. PNC Bank

Overview

Is PNC Bank Right for Me?

PNC Bank Virtual Wallet®

Virtual Wallet® with Performance Spend

Virtual Wallet® with Performance Select

Standard Savings

PNC High Yield Savings

S is for Savings

Business Checking

Business Checking Plus

Non-Profit Checking

8. Truist

Overview

Is Truist Bank Right for Me?Yes, if you:

One Savings

Confidence Savings

Business Checking

Simple Business Checking

Dynamic Business Checking

Community Checking

9. Capital One

Overview

Is Capital One Bank Right for Me?

Checking

CDs

Money Market

Business Checking

Basic Checking

Enhanced Checking

Business Savings

10. TD Bank

Overview

Is TD Bank Right for Me?

Simple Checking