Everyone needs a safe place to keep their money, rather than burying it in the backyard (or worse, under their mattress). So which is the best national banks?
When looking for a new bank, you have hundreds of options to choose from, but each one More banks seem to be hitting the market each year. And we know that every bank is different. They all have different account options, financial products and benefits. And which bank should you choose? Check out an analysis of the best national banks this year.
Best national banks this year: Several factors contributed to making the list of the best banks, for example, banks tend to be the most popular, but they may not be the best options for you and your money.
The list of the best national banks
CITBank
CIT Bank is consistently one of the top banks when it comes to interest rates on savings, money market and CD accounts.
They offer very flexible options for CDs and have an 11-month penalty free CD that allows withdrawals after you’ve had the account for a week.
Where they aren’t so good are checking accounts. In fact, they don’t even offer a checking account.
If you only need a small number of transactions, CIT Bank money market accounts offer six free transactions per month. For simple budgets and people who consume a lot of money, this might work.
BBVA
BBVA is not the most popular bank on our list, but you should not exclude it from the search. Some reasons I’ve placed them at the top of my list are their money market account, free checking account, and CD.BBVA (formerly BBVA Compass) has a 12 month CD that is now 0.30% APY. There is a $25 fee to open your free checking account, but there is no monthly service fee or fee at BBVA ATMs.
An added benefit is that you can open a BBVA account online. It’s quick and easy, just like managing your account. With BBVA Wallet you can track your purchases, activate new cards, make payments, report your card theft, change your PIN and access rewards for your expenses – all through the app.
Allybank
Because of the recent hype, you’ve probably heard of Ally Bank, but you might not know that it’s one of the best Internet banks out there. Their fees are one of the main reasons why they stand out from the competition.
You only have 3 account options to choose from:
- Ally’s interest check
- Ally’s Online Savings
- Ally Money Market
With your online savings account, you can get 2.10% APY on all account balances, which is much higher than with a traditional bank. Other benefits of having your savings account online are no minimum balance or maintenance fees. More banks for you to choose the best national bank.
More about the best national banks
Huntington
While Huntington is less well known, its banking products and services are world-class. Huntington offers banking, credit, investment and insurance products for private banks, as well as a variety of business and business options. Huntington is known for its low fees, great customer experience and rewarding CD accounts.
Citibank
Unlike some of the other banks on our list, Citi has a particular niche in which it specializes. Citibank is an excellent choice for those who have large investment accounts, a lot of savings, or who already have a loan or credit card through Citi. Citi offers bonuses for opening accounts, but there are some important requirements you must meet first.
To claim the $300 bonus, you must deposit at least $15,000 into a Citibank Account Package or you can get the $500 bonus by placing at least $50,000 into a Deposit Citi Priority Account Package. Checkout Huntington Asterisk-Free is worth considering. Although there is no interest, the account is completely free.
The more you use your Citi credit card and services, the more thank you points you’ll earn. They are part of the rewards system and you can use these points to redeem gift cards, make purchases, earn money on flights and more. The Citi Private Pass gives you even more access to sporting events and concerts. When you have a Citi ThankYou Premier Card or Citi Prestige Card, your points are worth more.
PNC
The PNC’s financial instruments have consolidated them as one of the best banks in the country. PNC has a cool tool they call Virtual Wallet, and it’s one of the best banking tools out there.
The virtual wallet offers many useful benefits such as: B. Dividing your accounts into three categories: Business, Expenses, Postage, Growth. This tool gives you a unique view of your money and helps you understand your finances. The wallet usually comes with limited-time promotions that you automatically earn when using the service.
The savings balance can be used for short term savings and has free overdraft protection. The growth category is used for larger economies. Wallet also allows you to create quotes, use your account calendar and much more.
One thing to keep in mind about PNC is that they have a $7 monthly fee that you can avoid if you aggregate $500 into spend and booking categories, or if you deposit at least $500 directly into your spend category every month. More banks for you to choose the best national bank.
Bank of America
Bank of America is one of the largest banks on our list. Bank of America has approximately 4,500 branches in the United States, which means that no matter where you live, there is a Bank of America branch near you.
You were on my customer service record list. They have call centers that work every day of the week, from 8 am to 11 pm. and on weekends from 8 am to 8 pm In addition to calling them with questions, you can also contact them via Twitter or online chat.
Bank of America also offers a handy mobile banking app that lets you set up notifications for account activity as you wish, z. B. Unusual card activity or insufficient funds. If you want a bank (and many ATMs) always available, Bank of America is an excellent choice.
TD
If you want a simple checking account and great customer service, TD Bank is the place to go. You can choose from three main types of checking accounts. Your TD Simple is exactly what it sounds like, a simple checking account with no minimum balance. Your TD Premier is an account that pays interest when you have credit over $2,500 and gives you access to free ATMs anywhere.
TD also offers its customers a range of services, such as residential and personal credit. One of the exclusive benefits of TD Bank is for those who travel. TD Bank does not charge foreign debit cards. Plus, if you travel to Canada frequently, TD Canada Trust ATMs are free. Whether you are traveling for business or pleasure, TD Bank is one of the best banks for you.
Wells Fargo
There are several publications or organizations that consider Wells Fargo to be the best bank. In fact, they won the best GOBankinRates banking survey for two consecutive years. They’ve been around for over 150 years, which means they’ve taken the time to improve their business. One area that Wells Fargo shines is its fees and balances. To open an account, all you need is an initial deposit of $25 or $50. Your monthly fees are only $5 (some accounts have fees higher than $30, but these are the higher accounts).
TIAA
Some people want more from their bank than just a place to store money. If you want to put some of the money in your bank, TIAA, formerly Everbank, has the guarantee. They have some of the best CD reviews out there.
They have three different CDs, a base CD, a rate-boosting CD and the yield guarantee CD.
Each one is slightly different in how it works and its advantages. Your basic CD can open for $1,000, while your first Yield Pledge CD requires an initial deposit of $5,000. CD Rate Hike, one of its standout investment offerings, allows you to raise your interest rate when TIAA interest rates rise.
Conclusion
Every person is different and every person has different banking needs. We can’t say that these 7 banks (plus a few) are the best options for you, but they are a great place to start. There are thousands of banks out there and luckily my research gave you the opportunity to start your own.
