A checking account at any of the top banks of US allows you to deposit funds, make transfers, write checks, withdraw cash, pay bills, and conduct other banking transactions in person, at an ATM, or online.
There are several types of checking accounts available to meet your needs, and the majority allow you to make unlimited transactions, while others provide additional benefits, perks, and convenience.
A checking account has a variety of everyday advantages. A checking account can usually be opened in person at a branch or online. Many top banks in the US allow you to use your account to store and spend money right away.
Do you want to know who the top banks in the United States are right now? If so, you’ve come to the right place. In this article, we will look at the top 15 banks in the United States for trustworthy checking accounts. You will also learn about the USA local banks list, the best local banks in USA, and the best small banks in USA . As a result, I implore you to read carefully.
How many banks are in United States?
As of September 8, 2021, there were 4,951 commercial banks and savings institutions in the United States.
Banking in the United States began with the country’s founding in the 1780s and has evolved into a highly influential and complex system of banking and financial services. It is centered on various financial services, including private banking, asset management, and deposit security, and is anchored by New York City and Wall Street.
The banking industry began in 1780 when the Bank of Pennsylvania was established to fund the American Revolutionary War. The Bank of North America was established to facilitate more advanced financial transactions after merchants in the Thirteen Colonies required a currency as a medium of exchange.
JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, and Goldman Sachs were the largest banks in the United States as of 2021. Furthermore, banking assets are estimated to account for 56% of the US economy.
How to choose the best banks in USA
If you are looking for the best bank in the United States, the following are the best options for you.
- Identify the right account
- Look at additional bank services
- Consider interest rates
- Consider the ease of use of a bank branch
- Find a bank that caters to your needs
- Examine digital features
- Recognize the terms and conditions
- Check out the reviews for the banks you’re thinking about using
Identify the right account
Banks provide a wide range of products and services, and comparing them all at once would be overwhelming. Matching the right types of accounts to your financial goals and priorities is a good place to start.
The most common accounts are as follows:
- Checking accounts
- Savings accounts
- Money market accounts
- Certificates of deposit
If you want to replace your checking account, you should consider a larger, traditional bank that offers a variety of checking accounts. Alternatively, you may prefer a high-yield checking account, such as those offered by some credit unions and online banks.
Look at additional bank services
Some people prefer to manage all of their finances through the same company. If you want to do more than just deposit money in a bank, see if it provides any of the following products and services:
- Investment accounts
- Other loans (personal, auto, private student loans)
- Credit cards
- Financial planning
Determine which additional tools you require from your bank (if any) and select one that provides them.
Consider interest rates
Checking accounts do not typically pay interest. Consider how much interest you’ll earn when opening a savings account, CD, or money market account.
When choosing a bank, you may decide that a high-interest rate isn’t necessary. Perhaps you come across a bank that does not offer competitive interest rates but appeals to you for other reasons.
Consider the ease of use of a bank branch
Another important factor in banking is accessibility. The convenience of ATM locations, branch location convenience, and the availability of online and mobile banking are all important considerations.
What conveniences you value may differ depending on your background. Consumers who are accustomed to performing the majority of their tasks online may value digital banking resources over the convenience of branch locations. For those who are more accustomed to branch banking, the opposite may be true.
Find a bank that caters to your needs
The bank you select should meet your requirements. If you’re self-employed, for example, you’ll need a bank that can help you build your business. If you want to save more money, look for a bank that has features that will help you achieve your goals, such as Savings accounts with high yields.
A wide range of CD terms, allows you to find a term for your specific goals or construct a CD ladder.
Examine digital features
Most banks offer basic services via an app or a website, such as the ability to transfer funds, pay bills, check balances, and make mobile check deposits. However, not all banks offer cutting-edge digital capabilities.
Not all banks offer features that customers are increasingly looking for, such as the ability to lock a debit card (and prevent unauthorized use) or manage mobile banking alerts. Furthermore, not all online banks offer a smartphone app, so you may need to use a mobile browser to access your account.
Recognize the terms and conditions
The account agreement, which may not be visible on the account’s home page but is usually available elsewhere on the bank’s website, usually contains important information about a bank account. Examining the disclosure can assist you in avoiding any hidden fees.
If there are monthly service fees, the account agreement will explain how to avoid them. If there are out-of-network ATM fees, the fee disclosure may state whether or not the bank offers refunds.
Check out the reviews for the banks you’re thinking about using
After you’ve begun comparing a few banks, reading expert reviews about them can help you understand what to expect from the financial institution, including customer service and products. Customer reviews can also be beneficial, especially because many customers stick with their banks for a long time.
The 15 best banks in the United States
The following are the best banks in the United States:
- JPMorgan Chase & Co
- Bank of America
- Wells Fargo & Co
- Citigroup Inc
- The Goldman Sachs Group, Inc.
- Morgan Stanley
- U.S. Bancorp
- PNC Financial Services Group, Inc.
- Bank of New York Mellon Corporation
- Capital One Financial Corporation
- First Republic Bank
- American Express National Bank
- Western Alliance Bank
1. JPMorgan Chase & Co
JPMorgan Chase & Co., headquartered in New York City and incorporated in Delaware, is an American multinational investment bank and financial services holding company that is also one of the top banks in the world.
JPMorgan Chase bank’s success in a fast-moving and increasingly complex global economy is dependent on how faithfully they adhere to its core principles: delivering exceptional client service; acting with integrity and responsibility, and supporting the growth of our employees.
2. Bank of America
Bank of America which is one of the top banks in the world provides a variety of checking account options. Each is linked to the bank’s highly rated mobile app to assist you in managing your finances.
You’ll also have access to a large network of bank branches and ATMs as a BofA customer.
The bank also provides an excellent branch and online experience, but it pays little interest on its savings products, as do many traditional banks.
3. Wells Fargo & Co
Wells Fargo & Company is a major financial company and one of the most famous top banks in the world with approximately $1.9 trillion in assets that proudly serves one in every three US households and more than 10% of all US middle market companies.
Through four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management, WFC offers a diverse range of banking, investment, and mortgage products and services, as well as consumer and commercial finance.
4. Citigroup Inc
Citigroup Inc., also known as Citi, is a multinational investment bank and financial services corporation based in New York City. In 1998, Citicorp merged with financial conglomerate Travelers Group to form the company; Travelers was later spun off from the company in 2002.
5. Goldman Sachs Group, Inc
The Goldman Sachs Group, Inc. is one of the prominent top banks in the world that provides a wide range of financial services to a large and diverse client base that includes corporations, financial institutions, governments, and individuals through investment banking, securities, investment management, and consumer banking.
6. Morgan Stanley
The Goldman Sachs Group, Inc. is a premier global financial institution that provides a wide range of financial services to a large and diverse client base that includes corporations, financial institutions, governments, and individuals through investment banking, securities, investment management, and consumer banking.
Morgan Stanley Private Bank provides a noninterest-bearing checking account called Checking.
This is the account that this review is based on. The account has no monthly fee, no minimum opening deposit, and includes a debit card and a complimentary checkbook.
7. U.S. Bancorp
U.S. Bancorp is a Delaware-incorporated American bank holding company headquartered in Minneapolis, Minnesota. It is the parent company of US Bank National Association and the country’s fifth largest banking institution.
To open a checking account, go to any US Bank branch. You will still be required to provide identification and personal information, such as your Social Security number and a valid government-issued ID.
You can also contact a U.S. Bank representative at 855-399-5765 to ensure you have everything you need to open a checking account or another type of bank account.
8. PNC Financial Services Group, Inc.
PNC Financial Services Group, Inc. is a Pittsburgh, Pennsylvania-based bank holding company and financial services corporation. Its banking subsidiary, PNC Bank, has 2,629 branches and 9,523 ATMs in 27 states and the District of Columbia.
9. Bank of New York Mellon Corporation
The Bank of New York Mellon Corporation, abbreviated as BNY Mellon, is a New York-based investment banking services holding company and also one of the best local banks in the USA. Managing spending needs efficiently is one of the most important aspects of wealth planning.
Bank of New York Mellon Corporation offers a competitive checking account that can be used to supplement a dynamic spending strategy to ensure their clients have adequate levels of liquidity for short-term living expenses.
10. Capital One Financial Corporation
Capital One Financial Corporation is an American bank holding company headquartered in McLean, Virginia, and one of the top banks in the world that specializes in credit cards, auto loans, banking, and savings accounts. Its primary operations are in the United States.
HSBC provides premier checking accounts to meet your banking requirements. As one of the best local banks in the USA, HSBC can introduce you to a world of opportunities and assist you in navigating your financial commitments both in the United States and abroad.
KeyBank, KeyCorp’s primary consortium, is a regional bank headquartered in Cleveland, Ohio. It is the only large bank in the city. KeyBank is ranked 24th among the largest banks in the United States. Customers of KeyBank include retail, small business, corporate, and investment clients.
13. First republic bank
First Republic Bank is an American full-service bank and wealth management firm that is one of the best local banks in USA that provides personal banking, business banking, trust, and wealth management services to low-risk, high-net-worth clients while emphasizing personalized customer service.
14. American Express National Bank
American Express National Bank provides a variety of checking accounts. They provide a range of traditional checking and interest-bearing accounts. Worry-Free Checking, Flex Checking with competitive interest rates, and even a Senior Citizen Now Account are all options. American Express savings accounts provide competitive interest rates, no monthly fees, and no minimum balance requirement.
15. Western Alliance Bank
Western Alliance Bank provides a wide range of business deposit products, including checking and savings accounts, money markets, and CDs. Western Alliance Bank’s experienced relationship managers will assist you in selecting the best business checking and savings solutions for your needs. Whether you need a large volume of transactions, want to earn interest, or require specialized services,
USA local banks list
Here is the USA local banks list:
- 1st Source Bank Limited
- Arthur.J. Smith Federal Savings Bank
- Adams Bank & Trust Limited
- America First Federal Credit Union
- Alliance Bank Limited
- Alliant Credit Union
- American Airlines Federal Credit Union
- AnchorBank Limited
The United States has a sophisticated and intricate banking system, and its largest financial institutions are critical to the country’s economy. Banks, as financial institutions, provide a wide range of goods and services, such as maintaining deposit balances, lending money to customers, and managing their wealth. They may also be able to assist with currency exchange and investments. Individuals, corporations, and nonprofit organizations are among the clients served by the banks mentioned in this article.
FAQs About Top Banks of US
What are the top 5 banks in America?
The top 5 banks in America are as follows:
- JPMorgan Chase & Co
- Bank of America
- Wells Fargo & Co
- Citigroup Inc
- The Goldman Sachs Group, Inc.
How many banks are in United States of America?
In the United States, there were 4,951 commercial banks and savings institutions.
Which is the largest bank in US?
JPMorgan Chase is the largest bank in the United States, with a total balance sheet of $2.87 trillion.
- www.bankrate.com– The 15 largest banks in the US
- www.cnet.com– The 10 Biggest Banks in the US
- www.gobankingrates.com– Which Banks Are the Largest in the US?
- www.doughroller.net– The 10 Largest Banks in the World
- www.bankinfousa.com-usa local banks list