Best Banks: Top Choices for Savings, Checking, Customer Service and More (2024)

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Whether you're looking for a checking account, savings account, a CD, or more, choosing a bank is a major decision. Maybe you're on the search for a bank with a great mobile app. Maybe an extensive ATM network is important to you, or maybe you prioritize the best rate above all else.

There's no rule that you have to use the same bank for all of your banking needs. You can choose to be part of one bank or get different bank accounts and services from a variety of financial institutions. Just remember to review a variety of options whenever you're interested in opening a bank account so know what's out there.

Overview of the Best Banks

These are our top picks for the best banks, and why you might like to consider them a top option for your banking:

Capital One: Best online checking account

Chase: Best for a large branch network

Axos: Best for a variety of online account options

Discover®: Best for doing all of your banking in one place

Synchrony Bank: Best high-yield savings account from a national brand

TD Bank: Best for customer service

Regions Bank: Best for avoiding monthly fees through relationship banking

U.S. Bank: Best in-person bank for CDs

Compare the Best Banks in America

The best banks in America are well-rounded financial institutions with various banking products and services and strong customer service. We have a mix of online and brick-and-mortar banks because, depending on what you're looking for, one type of bank may appeal to you more than another.

For each of our top picks, we highlighted specific stand-out features or services. Read more about the best banks, below.

Capital One Bank

Capital One 360 Checking ranks as one of our best checking accounts. It doesn't charge any overdraft, foreign transaction, or monthly service fees, and Capital One doesn't require any minimum opening deposits. The bank ranks No. 1 on J.D. Power's U.S. National Banking Satisfaction Study.

You can use your debit card at over 70,000 ATMs nationwide for free, but unlike many online banks, Capital One doesn't reimburse any fees charged by out-of-network ATM providers.

Branch and ATM locations: Although Capital One 360 is considered an online bank, the institution does have some physical branches. There are over 280 branches in seven U.S. states, plus around 50 Capital One Cafés, where you can grab Verve Coffee, speak with a money coach, and open a bank account. As a Capital One checking customer, you can get money from 70,000+ fee-free Capital One, MoneyPass and Allpoint ATMs—including in select Target, Walgreens and CVS stores.

Capital One Bank Review

Chase Bank

Chase has branches in more states than Bank of America or Wells Fargo. The bank also has numerous types of bank account, and you could get perks such as relationship rates if you open multiple bank accounts. Chase is notably featured in our guides for the best kids savings accounts and best national banks.

You'll pay a monthly service fee if you don't meet certain account requirements. You'll also have to pay a fee if you use an out-of-network ATM.

Branch and ATM locations: Chase has over 4,700 branches throughout the continental U.S., and around 16,000 ATMs.

Chase Bank Review

Axos Bank

Axos offers five different checking accounts, all geared toward specific needs:

• Essential Checking (get paid two days early)
• Rewards Checking (earn a high APY)
• CashBack Checking (earn up to 1% cash back on purchases)
• Golden Checking (age 55+)
• First Checking (ages 13-17)

You'll need at least $250 to open a high-yield savings account. Some of the options on our list do not require an initial deposit.

There are also several requirements to earn up to 3.30% APY with an Axos Bank Rewards Checking account. You'll have to meet the following criteria:

• Earn 0.40% APY when you receive at least $1,500 in direct deposits in a month (this requirement must be met to be eligible to earn any interest during the statement cycle, regardless of whether the other interest-earning requirements are met)
• Earn 0.30% APY when you make 10 Axos Visa® Debit Card transactions in a month (minimum $3 per transaction) or sign up for Account Aggregation/Personal Finance Manager (PFM) in Online Banking
• Earn 0.99% APY by maintaining an average daily balance of $2,500 per month in an Axos Managed Portfolios Invest Account
• Earn 0.99% APY by maintaining an average daily balance of $2,500 per month in an Axos Self Directed Trading Invest Account
• Earn 0.60% APY by using your account to make your full monthly Axos consumer loan payment

Branch and ATM locations: As an online-only bank, Axos doesn't have physical branches. You have free access to around 91,000 ATMs. Axos doesn't have a specific ATM network, but you can likely use one near you for free. Axos also offers generous out-of-network ATM fee reimbursem*nts, in case you can't find a free ATM close by.

Axos Bank Review

Discover Bank

Discover is a good option for people who want to do all their banking, investing, and borrowing with one institution. It offers a wide range of products, including credit cards. The bank is a good option if you want to earn cash back with your debit card — you'll earn 1% cash back on up to $3,000 in purchases per month (see website for details).

While you don't need to place an initial deposit for a checking or savings account, you'll need at least $2,500 to open a money market account or CD. If you don't have a lot of money to deposit, some of the options are our list do not require a minimum opening deposit on accounts.

Branch and ATM locations: Discover has just one physical branch, in Delaware. You have free access to over 60,000 ATMs in the Allpoint and MoneyPass networks.

Discover Bank Review

Synchrony Bank

Synchrony pays 4.75% APY on its high-yield savings account, which is great compared to other well-known banks. It doesn't require a minimum opening deposit, and there are no monthly fees. Unlike most savings accounts, it comes with an ATM card so you can easily access your savings.

Synchrony only offers a high-yield savings account, CDs, and a money market account — not a checking account. If you need to transfer money from your Synchrony account to an external checking account, it could take a few business days. But keep in mind that Synchrony makes it easier to access your money than most banks without checking accounts, because it gives you an ATM card.

Branch and ATM locations: Synchrony is an online-only bank, so it doesn't have any branches. Although it doesn't have its own ATM network, you can use ATMs in the Plus, STAR, or NYCE ATM networks for free. Synchrony also reimburses up to $5 per month for any fees charged by an out-of-network machine.

Synchrony Bank Review

TD Bank

TD Bank is ranked third in JD Power's 2023 U.S. National Banking Satisfaction Study. Many branch locations are open seven days per week, which is great if you struggle to make it to the bank during the workday.

TD Bank's ATM fees aren't necessarily higher than other banks' fees, but its fine print may affect which checking account you choose to open.

Just be aware that the TD Bank Beyond Checking Account is the only TD Bank checking account that doesn't charge a fee when you non-TD Bank ATMs — and you must maintain a $2,500 balance for TD Bank to reimburse fees charged by out-of-network ATM operators.

Branch and ATM locations: TD Bank has over 1,100 branch locations across 16 states, with about 2,600 ATMs.

TD Bank Review

Regions Bank

Regions offers a wide range of bank accounts, so you can probably find one that fits your needs. The Regions LifeGreen® Savings Account is a unique savings option from a brick-and-mortar bank. It doesn't charge monthly fees.

Regions charges you if you overdraw from your account or if you use an out-of-network ATM. You also may have to pay a monthly service fee on some accounts.

Branch and ATM locations: Regions has around 1,500 branch locations in 15 states, and about 2,200 ATMs.

Regions Bank Review

U.S. Bank

U.S. Bank is a solid choice if you want to open a CD with a national bank. The bank provides more types of CDs than most big banks, including Step Up CDs that increase your rate every seven months, and Trade Up CDs that increase your rate once during the term if U.S. Bank rates go up. U.S. Bank CD rates are particularly high on its CD Specials, which pay 3.55% to 4.50% (Varies by location) APY — these are great rates for a brick-and-mortar bank.

Although you may be eligible to waive monthly maintenance fees, U.S. Bank makes it a little harder than many competing national banks.

Branch and ATM locations: U.S. Bank has around 2,000 branch locations in 26 states, and roughly 37,000 ATMs through the MoneyPass network.

U.S.Bank Review

Importance of Choosing the Right Bank

To choose the right bank, you have to know what you want. Are you looking to open one specific bank account or do you plan to get multiple bank accounts or products? Do you prefer going to a branch and getting assistance from a banker, or would you rather use your mobile phone and computer to primarily manage your account?

To help you narrow down your options, we've outlined specific features to look for in a top bank, depending on what you want out of your banking experience.

Top Banks for Savings Accounts

The top banks for savings accounts pay competitive interest rates. The average savings account interest rate is 0.45% APY, but many banks have high-yield savings accounts which have a significantly higher APY than the national average. The top rates you can find are 5% interest savings accounts, and these are primarily at online banks. Small banks have higher savings rates than national brands, but as you can see from our top pick Synchrony, you'll still benefit from a great interest rate regardless of whether choose a national or local institution.

You should out look out for monthly bank maintenance fees, excess transaction fees, paper statement fees, and inactivity fees. Many banks waive these fees if you meet certain criteria, and some don't charge these fees at all.

Best Banks for Checking Accounts

The best financial institutions for checking accounts make it easy to access your money. You should have access to a robust ATM network. If you like in-person banking, you should look for a bank with branches nearby. If you like online banking, you should find a bank that accepts cash deposits or offers a strong mobile app so you can manage your account digitally.

A good bank for checking accounts will also help you avoid common bank fees, like monthly services fees, overdraft fees, and out-of-network ATM fees. You can also find specialty checking accounts that offer additional perks like cash bonuses for new customers, interest, or cash-back debit cards.

Banks with the Best Customer Service

To find the banks with the best customer service, we used information collected by the J.D. Power 2023 U.S. National Banking Satisfaction Study. The study gathered responses from nearly 13,000 banking customers from August to September 2023. It found that Capital One, Chase, and TD Bank were ranked highest in overall customer satisfaction.

If you're also looking for banks that have extended customer service hours, a bank with 24/7 customer support could also be a good fit.

Best Bank for an Online-Only Experience

Online banks often do not have any physical locations, but the top banks offer strong mobile and online banking so you won't miss out on going to a branch because you'll have convenient digital access to your accounts.

The best banks for online-only experience have free checking accounts and savings accounts, meaning that they don't charge any monthly service fees. Many of these top banks also won't charge any overdraft fees.

Best Banks for In-Person Banking

The best brick-and-mortar banks stand out for their robust account options and services. They'll have different types of checking accounts and savings accounts to choose from, as well as home loans, credit cards, personal loans, and more so you can build your banking experience over time. These banks often also offer relationship banking, which means that you'll get perks like discounts or waived account fees for having multiple products at the bank.

Brick-and-mortar banks usually charge monthly service fees and overdraft fees on their bank accounts, but the top options will give you multiple ways to waive these fees. For example, you might be able to waive fees on a checking account by maintaining a certain amount of money in your account daily or setting up a certain amount in direct deposits per month. To waive overdraft fees, you'll be able to link your checking account to a savings account, or apply for a line of credit. Fees may apply for overdraft protection, but it'll be significantly less than paying overdraft fees.

Differences Between Online Banks and Traditional Banks

The biggest difference between online banks and traditional banks is that traditional banks have physical branches, while online banks typically don't.

Since online banks have fewer overhead costs, their bank accounts tend to have fewer bank fees than ones from traditional banks. You'll also find savings accounts with higher interest rates at online banks.

Brick-and-mortar banks tend to have a greater variety of bank accounts and services than online banks, though. For example, brick-and-mortar banks are more likely to exchange foreign currency, or offer more CD term lengths.

How to Choose Between a Traditional and Online Bank

Choosing between a traditional and online bank depends entirely on your preferences.

Many national online banks have bank accounts with no monthly service fees and no overdraft fees, but you have to be OK with managing your account digitally. If you rely on a branch experience to manage your bank accounts, you might find a traditional bank is better suited for your needs. That said, if you go with a traditional bank just make sure you find bank accounts where you can waive potential bank fees.

How to Switch Banks

If you're ready to switch to a new bank, the first thing you have to do is find a new bank that's a better fit for your needs. Make sure the banks has all the accounts and services you want, and review fees to make sure that you can avoid them entirely.

Once you've settled on a bank, you can open an account at a branch, online, or by phone. Banks verify your identity whenever you're applying for a bank account, so you'll need to provide your Social Security number and a government-issued ID.

You can close your old bank account once your new bank account is approved and open. To set up a direct deposit to your new account, you'll have to update your account information with your employer. The same goes for any bills that you have set up with autopay — you'll have to update your information with the company that issues the bill.

Bank Trustworthiness and BBB Ratings

We review the ethics of each company so you can see if a specific financial institution aligns with your values.

We also include the settlement history of the last three years, so you're aware of any recent public controversies involving the bank.

The Better Business Bureau grades companies by looking at responses to customer complaints, advertising, and transparency about business practices.

A strong BBB grade doesn't guarantee you'll have a smooth experience with a bank. You may also want to read online reviews or look into public scandals. We've also detailed any existing public issues with each bank.

Brick-and-mortar banks

Regions Bank has an A rating due to government action taken against the bank. U.S. Bank currently has a B rating because of government action taken against the bank.

In 2022, Regions Bank was required to $191 million in a settlement with the Consumer Financial Protection Bureau. The CFPB accused the bank of charging surprise overdraft fees for some ATM withdrawals and debit card transactions.

The US Bureau of Consumer Financial Protection said TD Bank had been breaking the law by charging customers for its Debit Card Advance service without their permission.

U.S. Bank paid the government $200 million in a settlement when accused of approving FHA mortgages for insurance when borrowers didn't meet the minimum criteria.

In 2021, JP Morgan Chase & Co. paid the SEC $125 million in a settlement that stated the company did not have proper record keeping for certain documents. JP Morgan Chase also paid the Commodity Futures Trading Commission $75 million in a settlement when accused of permitting unapproved communication, such as text messages and WhatsApp messages.

In 2023, JP Morgan Chase was also required to pay $75 million in a settlement with the U.S. Virgin Islands that accused the financial institution of failing to report suspicious activity regarding Jeffrey Epstein's sex trafficking operation.

Online banks

Synchrony currently has an NR rating because the bank is in the process of responding to previously closed complaints.

Synchrony has been involved in a few public controversies. In 2023, Synchrony was required to pay $2.6 million in a settlement when accused of calling customers about bank accounts they didn't have. In 2021, the bank also was required to pay $3.5 million in a settlement when accused of making unreasonable phone calls to debtors living in California.

In 2024, Discover was required to pay $1 million in a settlement that claimed Discover denied Deferred Action for Childhood Arrivals, or DACA, recipients loans because of their immigration status. In the settlement, Discover agreed to rewrite its lending rules to make DACA recipients equally eligible for loans as comparable U.S. citizens.

Capital One is also facing a lawsuit. The bank used to have an account called 360 Savings. In 2019, Capital One launched the new 360 Performance Savings Account, which paid a much a higher interest rate. Many customers thought their old savings accounts would transition into this new one, but in reality, they had to open a new 360 Performance Savings Account to earn the higher rate. So some customers have been earning a significantly lower savings rate for years.

In the lawsuit, the plaintiffs' lawyers allege that Capital One didn't inform 360 Savings customers that these were two distinct accounts, or that 360 Performance Savings paid a higher rate. However, Capital One wants this case dismissed because it claims people had every opportunity to learn these facts on their own. This case is still ongoing.

Best Banks FAQs

Why You Should Trust Us: Our Expert Panel for the Best Banks

To learn more about what makes a good bank and how to choose the best fit, four experts weighed in:

• Tania Brown, certified financial planner and vice president of coaching strategy at OfColor
• Roger Ma, certified financial planner with lifelaidout® and author of "Work Your Money, Not Your Life"
• Sophia Acevedo, banking editor, Business Insider
• Mykail James, MBA, certified financial education instructor, BoujieBudgets.com

We're focusing on what will make a bank most useful, including fees, interest rates, accessibility, and more. Here's what they had to say about banking online. (Some text may be lightly edited for clarity.)

How can someone determine whether a bank is the right fit for them?

Tania Brown, certified financial planner and vice president of coaching strategy at OfColor:

"Obviously, you want to make sure it's FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you're okay online. Do you write checks? Do you not write checks? So it's thinking through how your experience with it is going to be before you make that decision."

Sophia Acevedo, banking editor, Business Insider:

"I would create a list of what I prioritize most in a bank account. For example, some banks have accounts that charge monthly service fees. I would look to see what the requirements are for waiving the monthly service fee and whether I think I could feasibly meet those requirements each month. If I'm searching for an interest-earning bank account I'll pay attention to interest rates. I would make sure the account pays a higher interest rate than the average bank account."

What should someone look for in a brick-and-mortar bank?

Brown:

"How can that bank grow with you? If you are 25, single or newly married, and all you need is a checking account, that's going to look very different 15 years from now when you may have had a couple of jobs, you may have an IRA roll over, or you may want a financial adviser."

Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:

"How accessible it is. So where are the branches? And if I am to go out of town or something, how accessible is my money to me?"

Acevedo:

"With a brick-and-mortar bank, I would review all the bank accounts and make sure there are options where I can waive monthly service fees. I would also factor in the overall banking experience. For example, I would see if a bank lets you exchange foreign currency — not all do — and has a strong mobile app."

What should someone look for in an online bank?

Roger Ma, certified financial planner with lifelaidout® and author of "Work Your Money, Not Your Life":

"How onerous the transfer process is, transferring money in and transferring money out. Is it same day, next day? Is it pretty easy to sync a brick-and-mortar checking account to this particular high-yield savings account?"

James:

"When it comes to online banks, you want to be a little bit more strict about what type of interest rates they're providing. That's the biggest thing, because online banks are supposed to have the higher interest rate because they don't have the overhead of the brick-and-mortar. You want to make sure that it's well above the national average.

"What types of securities do they provide? Do they have two-factor identification? If it's an online bank, they should definitely have — at the bare minimum — two-factor authentication in how easy it is to change your passwords and things like that, because you want to be a little more hypersensitive about the cyber security for a strictly online bank."

Our Methodology: How We Chose the Best Banks

There are a lot of online banks out there. Through our research, we've found that the best banks offer a wide range of products and effective customer service.

Banks should make it easy to access your money. With a brick-and-mortar bank, we looked at banks with large branch and ATM networks. Although most online banks don't have physical branches, we chose ones with plenty of ATMs nationwide.

A bank should also make it affordable to keep your money with the institution. We chose online banks that pay high rates and charge low fees, or no fees at all. Brick-and-mortar banks are known for paying lower rates and charging higher fees, but a good one should make it possible to waive monthly fees. We also looked at other types of charges, such as fees for overdrafts, using out-of-network ATMs, and foreign transactions.

See our full methodology for how we rate banks »

If you live in one of the following states, you can also check out our region-specific bank recommendations:

• The best banks and credit unions in California
• The best banks and credit unions in Florida
• The best banks and credit unions in Georgia
• The best banks and credit unions in Massachusetts
• The best banks and credit unions in North Carolina
• The best banks and credit unions in Texas
• The best banks and credit unions in Colorado