10 Best National Banks – Banking Anywhere in the US
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Finding the right bank can be tricky — especially since many banks seem to offer identical accounts, features, and benefits. Although online banks may have higher interest rates and local rates might boast localized benefits, many people still turn to national banks to handle their finances.
In this guide, I’ll run you through the 10 best national banks in 2024, all of which are FDIC-insured so that you can find the right fit for your banking needs.
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Overview of the 10 best national banks for checking and savings accounts
Bank Name | Best for |
Capital One | Traditional bank with mobile banking interest rates and features |
Wells Fargo | Most branch locations in the country |
Ally Bank | Online bank with high-interest rates |
Bank of America | Traditional banking and overdraft protection |
Chase | Signup bonuses |
Discover | Cash-back checking services |
Schwab | No-fee foreign transactions and want free, interest-earning checking and savings |
U.S. Bank | Low-cost traditional banking |
Synchrony Bank | Combine checking and savings accounts |
10 best national banks for checking and savings accounts
Capital One
Capital One might be best known as a credit card provider and loan company, but this national bank offers an impressive suite of services. Capital One offers impressive online banking products and can easily replace your brick-and-mortar bank. This bank may not have a large branch footprint like its competitors, but it gives you access to over 70,000 fee-free ATMs.
Capital One Checking and Savings Accounts
Capital One’s online 360 Performance Checking account has no monthly service fees, no minimum deposit requirements and allows account holders to earn up to 0.10% APY on its checking deposits. It’s rare to find a completely free checking account from a national bank, let alone one that allows you to accrue interest. There’s also a teen checking account option, perfect for minors.
Capital One’s 360 Performance Savings also has no monthly fees, no minimum deposit requirements, and offers a 4.25% APY for all balance tiers. They also offer a kids' savings account and 360 CDs.
Capital One additional services
Capital One also provides credit card services, auto loans, business banking, commercial banking, and commercial lending services.
Wells Fargo
Wells Fargo is one of the top banks in the country and is actually the third-largest bank in the world. It is a traditional bank with about 4,700 bank branches across the U.S. and over a 12,000 ATM-network, making them an ideal choice for online or traditional banking services.
Wells Fargo checking and savings accounts
Wells Fargo offers four different checking account options: a free option for students, a checkless checking account, an interest checking account, and a rewards account for high-income earners. Although they do not offer a free checking account for non-students, its Everyday Checking option makes it easy to waive monthly maintenance fees.
The savings options at Wells Fargo include two traditional savings accounts. Wells Fargo’s Way2Save basic savings account offers easy ways to waive the monthly fee, while its Platinum Savings option offers higher interest rates. However, both accounts offer lower-than-average interest rates, between 0.26% – 2.51%.
Wells Fargo additional services
Wells Fargo also offers personal loans, credit cards, auto loans, student loans, mortgages, home equity services, investing options, and small business and commercial loan products.
Ally Bank
Ally Bank first made waves in the online banking marketplace in 2009, making it easy to switch from traditional banking to online banking. Ally Bank offers a simple suite of digital banking products and access to over 43,000 ATMs nationwide. This bank is online only and does not offer physical locations.
Ally Bank checking and savings accounts
Ally Bank offers a free interest checking account that earns you 0.10% - 0.25%. Ally Bank also has no minimum opening deposit requirements and offers access to Allpoint ATMs for free. While you can’t deposit cash into your Ally Bank account, you can make transfers and deposit checks from its mobile app.
Ally Bank’s online savings account outshines many national competitors. Its savings account offers a 4.20% APY for all balance tiers and has no monthly fees and minimum deposit requirements.
Ally Bank additional services
Ally Bank provides investment services, retirement options, auto loans, personal loans, and mortgages.
Bank of America
Bank of America is the second-largest bank in the country and one of the top options for anyone looking to open a checking or savings account. Bank of America has about 3,900 branches and approximately 16,000 in-network ATMs.
Bank of America Checking and Savings Accounts
Bank of America offers three main checking accounts: Advantage Banking accounts. The Advantage SafeBalance is checkless banking with a $4.95 monthly fee, overdraft protection options, and a minimum opening deposit of $25. Next, they offer Advantage Plus Banking with a $12 monthly fee, check access, and overdraft options. Advantage Relationship Banking has a $25 monthly fee, offers the same perks as Advantage Plus, and allows you to earn interest on checking deposits. Advantage Plus Banking and Advantage Plus have a minimum opening deposit of $100 each. The monthly maintenance fee associated with each account can be waived if certain conditions are met.
Bank of America provides one main savings account, Advantage Savings, which requires a $100 minimum deposit, costs $8 per month (with options to waive this fee), and earns 0.01% – 0.04% APY. Bank of America offers a no-fee child savings account, three CD rate options (0.03% to 4.00% APY), and IRA savings accounts.
Bank of America additional services
Bank of America also provides additional banking services, including credit cards, mortgages, auto loans, investing services, and small business & commercial banking.
Chase Bank
JPMorgan Chase, also known as Chase Bank, is the largest bank in the country. Originally formed in 1799, Chase Bank has over 4,700 branch locations and 16,000 in-network ATMs. This bank offers a few different sign-up bonuses for new customers and could be an ideal bank for customers using existing Chase products (such as mortgages).
Chase checking and savings accounts
Chase Bank offers a large number of checking account options, with three different everyday checking accounts (best for basic checking services), three different minor and student account options (best for teens and college students), and two different premium accounts (best for high-earners looking to invest). Despite many checking selections, Chase Bank has no free option for anyone who isn’t a student or minor, though it’s easy to waive every day checking fees.
Chase Bank also offers two primary savings accounts, Chase Savings, and Chase Premier Savings, though the basic savings account is the one most customers will approve for. Both have low interest rates, with the Chase Savings account only offering 0.01% APY, the other offering up to 0.02% — on par with brick-and-mortar banks but much lower than online and hybrid banks. Neither account is free, though the monthly charges are easy to waive.
Chase Bank additional services
In addition to checking and savings options, Chase Bank also offers credit cards, auto loans, mortgages, home equity services, investing options, and business & commercial banking.
Discover
You might know Discover best as a credit card lender, but Discover also offers robust online banking options. Discover has no physical branches, but it is an Allpoint and MoneyPass partner, which means you can access over 60,000 surcharge-free ATMs.
Discover checking and savings accounts
Discover offers a no-fee checking account that pays you 1% cash back on up to $3,000 in monthly debit card purchases. There’s no initial deposit requirement, no balance requirement, and no fee for reordering checks or debit cards.
Discover’s online savings account is also free and offers a 4.25% APY. Like its checking account option, there are no minimum deposit and balance requirements.
Discover additional services
Discover also offers credit cards, personal loans, student loans, mortgages, and home equity loans.
You can find out more at www.discover.com.
Schwab Bank
Schwab Bank is one of the newer national banks, having opened its doors less than 50 years ago, and is primarily known as an investing firm. However, this bank has quickly become a top national competitor for online checking and savings account services. With no fees and competitive interest rates, Schwab Bank might fit your banking needs.
Schwab Bank checking and savings accounts
Schwab Bank offers one checking account option with no monthly fees or minimum account requirements, earns you 0.45% APY on account balances, and has no foreign transaction fees. Best of all, Schwab has unlimited ATM fee rebates worldwide, so you never have to worry if you’re using a free ATM. They also offer free overdraft transfers from linked accounts to prevent fees.
Schwab Bank’s high-yield savings account also has no monthly fee or minimum balance requirements and comes with a debit card. ATM fees are rebated worldwide, just like the checking account. The APY is 0.48%, though — higher than many national brick-and-mortar banks but much lower than many online banks.
Schwab Bank additional services
Schwab Bank also provides a comprehensive offering of investment management and retirement services, as well as small business banking options, credit cards, mortgages, and insurance solutions.
You can discover more at www.schwab.com.
U.S. Bank
U.S. Bank is the 5th largest bank in the world and was founded in Ohio in 1863. This top national bank is well known throughout the country and offers many personal banking services, both in-branch and online.
U.S. Bank checking and savings accounts
U.S. Bank offers two primary checking accounts. Its U.S. Bank Smartly Checking account has a monthly maintenance fee of $6.95 (which can be waived), $0 overdraft fees, and $0 ATM fees at U.S. Bank and MoneyPass Network ATMs. The Safe Debit account has a $4.95 monthly maintenance fee, which cannot be waived, and comes with no overdraft fee, free credit score access, and discounts on money orders.
U.S. Bank has one standard savings account with a $4 monthly fee (waivable) and 0.01% APY. They also offer a money market account with 4.25% APY.
U.S. Bank additional services
U.S. Bank also offers credit cards, investment and retirement services, personal loans and lines of credit, mortgages, auto loans, business and commercial banking, and wealth management services.
Synchrony Bank
Our last recommended online national bank is Synchrony Bank. This bank was formed in 2003 with the idea that banking could be more affordable. While an online bank, they have partnered with Accel to provide access to over 400,000 in-network ATMs. Synchrony Bank offers a small selection of banking solutions, but its high-yield savings account might be the most appealing to customers.
Synchrony Bank checking and savings accounts
Unlike many national and online banks, Synchrony Bank does not offer a checking account but instead combines some of the benefits of a checking account into its savings accounts. For instance, the high-yield savings account comes with ATM access for easy access to your money. Its money market account also allows you to write checks, making earning higher interest on your deposits easier while retaining all of the benefits of a checking account.
Synchrony Bank’s high-yield savings account is this bank’s primary savings option, with a 4.75% APY, no monthly fees, and no minimum balance requirements.
Synchrony Bank additional services
Synchrony Bank is primarily an online bank with savings accounts but also offers credit cards.
You can find out more at www.synchronybank.com.
Related: Best Free Checking Accounts
Online national banks summary
Bank | Type | Minimum Deposit | Monthly Fee | Savings APY |
Capital One | In-branch and online | $0 | $0 | 4.25% |
Wells Fargo | In-branch with online services | $25 | $10 checking, $5-$12 savings; can be avoided | 0.26% – 2.51% |
Ally | Online only | $0 | $0 | 4.20% |
Bank of America | In-branch with online services | $25-$100 | $4.95-$25; can be waived | 0.01% – 0.04% |
Chase | In-branch with online services | $0 | $4.95 | 0.01% - 0.02% |
Discover | Online only | $0 | $0 | 4.25% |
Schwab Bank | Online only | $0 | $0 | 0.48% |
U.S. Bank | In-branch with online services | $25 | $4.95 | 0.1% Standard savings; 4.25% Elite Money Market account |
Synchrony Bank | Online only | $0 | $0 | 4.75% |
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FAQs
What is the No. 1 bank in America?
As of 2024, Chase Bank is the largest bank in the United States by assets.
Is it better to have one or two bank accounts?
How many bank accounts you need depends on your personal finances. Typically most people like to have a checking account for everyday purchases and a savings account to deposit money and earn interest. Some banks have made it easier to combine checking and savings accounts by adding debit cards to savings accounts and increasing interest rates. However, some savings accounts have limits on how often you can withdraw your money. Depending on your personal finances it might make sense to separate your money into more than one account.
What national bank has no monthly fees?
There are many different options for no-fee bank accounts. From this list, Capital One, Ally Bank, Schwab Bank, Discover, and Synchrony Bank all have no-fee checking and savings accounts.
What is the best bank for no fees?
Capital One, Ally Bank, Schwab Bank, Discover, and Synchrony Bank all have no monthly fees and no minimum requirements to open or maintain an account. If you want a no-fee ATM bank, you could look for one that partners with Allpoint’s network of ATMs.
Can you open a bank account with no money?
Many banks allow you to open an account without a deposit. Capital One, Ally Bank, Chase, Discover, Schwab Bank, and Synchrony Bank are all national banks that allow you to set up checking and savings accounts with no deposits. If you hope to earn interest on deposits, you’ll want to make sure you deposit into your account to begin accruing interest.
Pros and cons of national banks
Pros
- Easy access nationwide. One of the main benefits of banking with a big bank is the easy access you’ll have to branches throughout the country. While not all national banks have branches in all 50 states, most offer ATMs in all states and provide accessibility online to those without in-state branches.
- All services in one place. National banks really shine when it comes to service offerings. Many national banks offer additional services like mortgages, credit cards, auto loans, personal loans, home equity services, investment options, and more. Often, national banks will offer discounts and benefits to customers who sign up for more than one service, so if you stick with the same provider, you might receive additional perks.
- Customer service. National banks have one thing going for them that online banks can’t quite meet — customer service. With a national bank, you have options to speak to a customer service representative in-person, over the phone, via live chat, through email, and more. If you’re having an issue or need to talk through banking options, many customers prefer talking to a person face-to-face.
Cons
- Lower interest rates. Traditional national banks with branches in the U.S. typically have lower interest rates than online banks. You’ll find banks like Chase, U.S. Bank, Bank of America, and Wells Fargo offer below or at-par with the national average when it comes to savings APY. Most national banks also do not offer interest on checking accounts. National online banks, however, typically have higher interest rates.
- Monthly account fees. One of the main drawbacks to banking at a national bank is that you’ll often have to pay a monthly account fee. While this fee can often be waived if you meet certain criteria, it’s disappointing that these banks do not provide a basic checking or savings option free of charge. Online banks, on the other hand, have less overhead expenses and as a result, are able to pass these savings along to customers in terms of higher interest rates and no or low fees.
- Hidden fees. When banking with a national bank, you’ll want to be on the lookout for hidden fees. Many national banks have high overdraft fees that can be charged multiple times a day and may even add additional fees if your account is overdrafted for a certain period of time. Other fees to look out for are foreign transaction fees, transfer fees, and out-of-network ATM fees which can add up.
The bottom line
National banks are the largest type of banks in the United States. Many customers enjoy banking with this financial institution because national banks have convenient branch locations, offer many banking products, and provide top-notch customer service. However, national banks have fees to look out for and lower-than-average interest rates.
Before choosing, I recommend you review all of the pros and cons of working with a national bank and explore your options — local banks, credit unions, and online banks.
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Writer
Courtney Johnston is a freelance writer, specializing in finance, travel, and health. She has written for The Chicago Tribune, Benzinga, BestReviews, Mashvisor, Fundera, MoneyGeek, and The Culture Trip. She also teaches writing instruction at the University of Indianapolis. Courtney currently resides in Indianapolis.
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