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National banks are financial institutions with substantial branch and ATM networks throughout the United States. Below, you’ll find our picks for each region of the U.S. We’ve also listed our choice for the best nationwide bank (for travelers and people who frequently move), and our selection for the best online bank.
SoFi Checking and Savings
Fees
no monthly service fee
Annual Percentage Yield (APY)
up to 4.60%
Minimum Deposit Amount
$0
- FDIC insured for $2 million
- High interest rate
- Earn a higher interest rate with qualifying activities
- No minimum opening deposit
- No monthly service fees
- No overdraft fees
- Up to $300 bonus with qualifying direct deposit (terms apply)
- Earn up to 15% cash back at local retailers if you use a SoFi debit card
- No-fee overdraft coverage if you overdraw up to $50
- Savings tools
- Early direct deposit
- Joint account available
- Declined purchase if you overdraw by more than $50
- Doesn’t reimburse out-of-network ATM providers’ fees
- May deposit cash at Green Dot locations but there’s a $4.95 fee
Product Details
- FDIC insured for $2 million
- Free access to 50,000+ Allpoint ATMs worldwide
- Hybrid checking/savings account
- Earn up to 15% cash back on local retailers when you use a SoFi debit card; Retailer information is available through online banking
- Earn 4.60% APY on savings balances (Vaults included) and 0.50% APY on checking balances if you set up direct deposit or deposit minimum $5,000 per month
- Earn 1.20% APY on SoFi Checking and Savings if you don’t have qualifying activities
- Earn up to $300 cash bonus available through June 30, 2024; receive a $50 bonus if you make a direct deposit between $1,000 and $4,999 in the first 30 days of opening an account; receive a $300 bonus if you make a direct deposit of $5,000 or more in the first 30 days of opening an account
- Create up to 20 Money Vaults to save for individual savings goals like an emergency fund or vacation
- $4.95 fee each time you deposit cash at a Green Dot location
- To get no-fee overdraft coverage you must have at least $1,000 in direct deposits
Best National Banks
These institutions have stayed as our top picks for the last few months because they continue to stand out for their variety of services and unique perks.
All of the financial institutions on our list are protected by FDIC or NCUA insurance. Although First Republic Bank was recently shut down, bear in mind your money is safe at a federally insured financial institution. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account.
The Best National Banks FAQs
Technically, a national bank is a bank chartered by the US government. For the sake of our list, we considered a national bank to be one with an extensive network of bank branches and ATMs, or an online bank that’s available nationwide.
National banks have an edge over smaller banks because they have more locations, and they typically offer more products and have stronger technological resources. You may prefer a smaller bank if you value personalized customer service, though. Many small banks also charge lower fees than big banks, and focus on serving the local community.
It depends on your priorities. If you value face-to-face banking, you’ll want a brick-and-mortar bank. Physical banks are also better for anyone who needs to deposit cash regularly; with an online bank, you can usually deposit checks with your phone, but there’s no way to deposit cash. Online banks are typically better for low fees and higher APYs, though. Because online banks don’t have to pay for physical branch locations, they can afford to charge less and pay more.
Chase is probably the most common bank nationwide, because it has the most branches in the most states (over 4,800 locations in 48 states and Washington, DC).
There isn’t a bank with branches in all 50 US states, but Chase has branches in 48 states and Washington, DC. Chase doesn’t have locations in Hawaii or Alaska.
Best National Bank Reviews
Best National Bank in the Northeast
TD Bank is ranked third in J.D. Power’s 2022 US National Banking Satisfaction Study. Many branch locations are open seven days per week, which is great if you struggle to make it to the bank during the workday.
TD Bank’s ATM fees aren’t necessarily higher than other banks’ fees, but its fine print may affect which checking account you choose to open.
Just be aware that the TD Bank Beyond Checking Account is the only TD Bank checking account that doesn’t charge a fee when you non-TD Bank ATMs. Also, for TD Bank to reimburse fees charged by out-of-network ATM operators, your balance must be at least $2,500.
Branch and ATM locations: TD Bank has over 1,100 branch locations across 15 states and Washington, DC, and there are roughly 2,600 ATMs.
Best National Bank in the Southeast
Regions offers a variety of bank accounts, so you can likely find one that fits your needs. The LifeGreen® Savings account doesn’t charge monthly fees, and it pays an annual cash bonus.
Although Regions has a plethora of locations across the Southeast, there are no branches in Virginia, West Virginia, or Washington, DC. People in those areas looking for a national bank could consider alternatives such as Chase or PNC Bank.
Branch and ATM locations: Regions has about 1,300 branch locations in 15 states, and around 2,000 ATMs.
Best National Bank in the Midwest & West
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.
Although it’s possible to waive monthly maintenance fees, U.S. Bank makes it a little harder than many competing national banks. There are also currently no branch locations in Michigan. Residents of Michigan might consider national banks such as Chase, Bank of America, or PNC Bank.
Branch and ATM locations: U.S. Bank has over 2,000 branch locations in 27 states, and roughly 5,000 ATMs.
Best National Bank in the Southwest
Although Bank of America has fewer branch locations than Wells Fargo or Chase, it does have more ATMs — in fact, Bank of America is tied with Chase for the most ATMs by a national brick-and-mortar bank.
You may have to pay a monthly service fee if you don’t meet the requirements to waive it.
Branch and ATM locations: Bank of America has over 3,900 branches in 37 states and Washington, DC, and 15,000 ATMs.
Best National Bank if You Move Around
Chase has a large network of branches and ATMs. It also has a variety of bank accounts, including specialized accounts for military, college students, and kids.
Chase checking accounts have strong features, but some of them charge high monthly fees. You may qualify to waive the fees, but it’s harder with some accounts than others. Chase also doesn’t have branches in some states.
Branch and ATM locations: Chase has over 4,800 branches throughout the lower 48 states, and around 16,000 ATMs.
Best Online Bank
Ally has been a power player in the high-yield savings space for a few years now, and it consistently nabs top awards for online banking. Its mobile app has features many banking apps lack, such as mobile check deposit and an in-network ATM locator. Unlike many online banks, Ally has 24/7 customer service over the phone and via online chat.
If you prefer face-to-face banking, an online bank probably isn’t your best fit. Also keep in mind that Ally offers a wide range of CD types, so if you want to open a CD with this bank, be sure to choose the right one for your needs.
Branch and ATM locations: As an online-only bank, Ally doesn’t have any branch locations. Ally doesn’t have its own ATMs, but you can use over 55,000 ATMs in the Allpoint network in the US for free.
Other National Banks That Didn’t Make the Cut and Why
Below, you’ll find national banks that didn’t end up featured in our best national banks guide. Still consider exploring these banks if one appeals to you.
- Wells Fargo: Wells Fargo has the second most branches in the most US states, but its customer satisfaction and trustworthiness scores are lower than Bank of America’s scores.
- Citizens Bank (Member FDIC): Citizens Bank is a solid option for people in the Northeast, but it isn’t as widespread as TD Bank. Citizens Bank savings rates also vary depending on whether you prefer a in-branch experience or online-only banking.
- Santander Bank: As with Citizens Bank, Santander is a worthwhile choice for people in Northeast, but TD Bank has more locations.
- Huntington Bank: You can earn interest on your checking account balance at Huntington, but it’s only available in a few states.
- SunTrust: SunTrust has a strong presence in the Southeast, but Regions has more locations.
- Woodforest (Member FDIC): Woodforest has a lot of locations around the Northeast, Southeast, and parts of the Midwest, but keep in mind the mobile app isn’t as beloved as those of our top picks.
- PNC Bank: You can find PNC Bank branches in chunks of the Northeast, Southeast, and Midwest, but it doesn’t dominate a certain area.
- Fifth Third Bank: You might like Fifth Third Bank if you live in certain states in the Southeast and Midwest, but it only has branches in 10 states.
- KeyBank: You’ll find KeyBank branches sprinkled across the US, but it isn’t prevalent in a certain region.
- Citi (Member FDIC) : This bank has free ATMs around the world, but its “package” system can be confusing.
- M&T Bank: M&T Bank is a good option for people living in one of the 10 states where it operates, but beware that its overdraft fee is higher than most banks’ fees.
- BMO Harris: BMO only has branches in nine US states, but you might like the bank if you live near a branch.
- Capital One: Capital One is a worthwhile option if you’re looking for a hybrid brick-and-mortar/online bank, but its locations are limited and it doesn’t have 24/7 customer support over the phone like Ally.
Bank Trustworthiness and BBB Ratings
The Better Business Bureau grades companies based on responses to customer complaints, advertising, and transparency about business practices. Here are the BBB scores for our top national bank picks:
Chase has an A- rating because it has failed to respond to a customer complaint.
U.S. Bank has an A- rating, Regions has an A- rating, and Bank of America has an A- grade from the BBB rating due to government actions against the banks.
Meanwhile, Ally has an A rating because they have a few unresolved complaints on the BBB website.
A strong BBB grade doesn’t guarantee you’ll have a smooth relationship with a bank, though. You might want to speak with friends and families who have banked with an institution or read online reviews. You may also consider recent scandals.
In 2022, the Consumer Financial Protection Bureau fined U.S. Bank $37.5 million when it claimed the bank had illegally accessed customers’ credit reports and opened accounts in their names without their permission.
In 2023, Bank of America paid over $100 million to customers in a settlement when accused of repeatedly charging a non-sufficient funds fee for the same transaction, withholding credit card rewards, and enrolling customers in credit card accounts without them knowing or authorizing it.
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.
You may prefer to bank with another one of our top picks if any of these scandals worry you, or to bank with a different institution in your area.
Why You Should Trust Us: Our Expert Panel for the Best National Banks
We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best national bank for your needs.
Business Insider
We’re focusing on what will make a national bank most useful, including customer service, fees, rates, and more. Here’s what they had to say about finding a bank. (Some text may be lightly edited for clarity.)
How can someone determine whether a bank is the right fit for them?
Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:
“The No. 1 thing about a checking account is you should know what provider the debit card is coming from. And a lot of people don’t think about that, because there are places that don’t accept MasterCard or don’t accept an Amex.”
Sophia Acevedo, certified educator in personal finance, banking reporter, Personal Finance Insider:
“I would create a list of what I prioritize most in a bank account. For example, some banks have accounts that charge monthly service fees. I would look to see what the requirements are for waiving the monthly service fee and whether I think I could feasibly meet those requirements each month. If I’m searching for an interest-earning bank account I’ll pay attention to interest rates. I would make sure the account pays a higher interest rate than the average bank account.”
What should someone look for in a brick-and-mortar bank?
Tania Brown, certified financial planner at SaverLife:
“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, CFEI:
“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?”
What should someone look for in an online bank?
Tania Brown, CFP:
“With an online bank, absolutely online customer service, because you do not have the advantage of walking inside and talking to a human being. How often are you able to get them? What are their hours?”
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?”
Mykail James, CFEI:
“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 type 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 National Banks
At Personal Finance Insider, our goal is to create useful content that helps you make good decisions about your money. We recognize that every person has distinct preferences, so we provide ample options for you to find the most suitable financial product or account for you.
We created a list of 18 of the largest national banks. Then we compared different account features and bank services to find the standouts of each type of institution.
See our full methodology for how we rate banks »
