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The nation’s best big banks typically provide customers with everything they need to manage their finances, whether that’s in a branch, at home or on the road. Those features include easy access to ATMs, flexible customer-service hours, highly ranked mobile apps and other resources to help customers handle nearly every banking situation.
To determine the best big banks, Bankrate analyzed minimum deposit requirements, monthly service fees, overdraft fees, CD offerings, savings yields, ATM access and other criteria.
Big banks are also known for offering bank account bonuses, which can come in handy if you’re trying to build an emergency fund or a rainy day fund.
The banks that made Bankate’s Best Big Banks of 2023 all had a mobile app rating 4.4 or higher on iOS and Android devices, an increasingly important factor as online banks and mobile apps become an integral part of consumers’ daily banking habits.
BEST BIG BANK
Capital One is Bankrate’s best big bank for the sixth straight year. Capital One’s competitive yields rival savings accounts and CDs offered by online banks. For a big bank, its 360 Checking Account has many features that Bankrate looks for: It doesn’t require a minimum to open the account; doesn’t charge a maintenance fee; pays a higher yield than the typical big bank on savings, checking and some CD terms; and offers customers ample ATM access.
Capital One also offers customers access to direct deposits up to two days early and has eliminated overdraft fees.
Accessible accounts: Capital One checking and savings accounts and CDs have no minimum opening deposit requirement, making them accessible to a range of savers. The checking and savings accounts don’t charge a monthly service fee either.
Highly rated app: Capital One’s mobile app receives high ratings by users of iOS and Android devices.
ATM access: Customers have free access to tens of thousands of Allpoint, MoneyPass and Capital One ATMs.
TOP BIG BANK
Chase is the largest bank in the U.S. based on assets and has the most branches in the country. The big bank also offers top-notch digital tools. Chase offers a variety of checking accounts as well as accounts for children and students. Chase customers can get a competitive yield on some terms of CDs, but most aren’t competitive — especially its standard APYs.
Branch footprint: Chase has an extensive network of about 4,800 branches in 48 states and Washington, D.C., giving Chase the most branches of any bank in the U.S. The bank also has around 16,000 ATMs.
Bank account bonuses: Chase routinely offers cash incentives on many of its products, including checking accounts, as a way to entice new customers.
Digital tools: The Chase app receives high ratings on iOS and Android devices. Customers can use it to deposit checks, transfer funds, track spending, send and receive money from others through Zelle, and much more.
TOP BIG BANK
Citibank, the third-largest bank in the U.S. based on assets, offers a competitive yield on its Citi Accelerate High Yield Savings account and no minimum deposit is required to open it. The account is available in most, but not all, U.S. states. Other standout features include a highly rated mobile app and ample branch access.
Digital leader: Citi’s mobile app receives high ratings from users of both iOS and Android devices. Customers can also use the app to pay friends with Zelle and even lock or unlock a card.
Branch access: Citibank has about 674 branches in the U.S., according to data from the FDIC.
Competitive savings yields: Citibank offers a competitive yield on its savings account online, but it’s not available in all areas.
TOP BIG BANK
PNC closed on its purchase of BBVA in June 2021, giving PNC about 600 additional branches in seven states. It now has around 2,600 branches. PNC earned Bankrate’s third-highest score for big banks, standing out for its digital tools, high-yield savings account and avoidable fees. PNC also recently earned the title of Most Trusted Bank in the 2023 Bankrate Awards.
Digital tools: PNC’s Virtual Wallet offers a number of financial health features, including warnings about “danger day,” which alerts you to the potential for overdrawing your account so that you can adjust spending or transfer funds from savings. With its highly rated app, PNC customers can use Zelle for peer-to-peer payments and find nearby ATMs.
High-yield savings account: PNC’s high-yield savings account, available only in certain states, offers a competitive APY and has no minimum deposit requirement. PNC’s Virtual Wallet checking and savings also doesn’t have a monthly service fee or minimum opening deposit requirement.
Low fees: The high-yield savings account doesn’t charge a monthly service fee. The Virtual Wallet checking account at PNC also doesn’t charge a monthly maintenance fee as long as you have a $500 qualifying direct deposit each month or are older than 61 years old. Its money market account also has a fee that can be waived if the minimum balance requirement is met. Account availability varies by region.
TOP BIG BANK
TD Bank offers helpful digital tools and a large branch footprint along the East Coast. Its Convenience Checking account requires that you keep only $100 in the account. The low minimum balance requirement gives consumers without direct deposit access to an account at a big bank without paying a monthly service fee.
TD and First Horizon have agreed to a merger originally projected to close during the first quarter of this year. There are, however, reports of setbacks, so it’s currently unclear whether the deal will proceed as expected.
Customer service: At some locations, TD Bank offers Saturday and/or Sunday hours and the ability to pick up a new debit card via curbside pickup.
Digital tools: Through the TD Bank app, customers can access digital banking features, including Zelle, remote check deposit and bill pay.
Branch access: TD Bank has about 1,160 locations up and down the East Coast.