15 Best National Banks in America!
This article highlights the Best National Banks in America and more.
There are thousands of financial institutions in the United States, including local and national banks. They are dispersed across the nation’s cities and provide a choice of accounts.
This article examines the 15 Best National Banks in America. The top national banks in the United States are also among the largest.
Upon examining the assets of some of these banks, you will find that they exceed trillions of dollars. Consider Bank of America, which has assets over $2 trillion.
Many People have placed their trust in these big banks over the years. A few of the banks on our list provide both high interest rates and exceptional customer service.
Several of the banks featured here are accessible solely via the Internet and are the greatest options for small enterprises.
There are a number of reasons why you may wish to open a checking or savings account with a national bank. If you frequently travel, banking with a national bank can be convenient because you can usually find a branch.
Related: 10 Best Banks in Arizona
What Is a National Bank?
In the United States, a national bank is typically considered a commercial bank. The Office of the Comptroller of the Currency of the United States Treasury charters and regulates national banks and federal savings associations.
It is necessary that national banks are Federal Deposit Insurance Corporation members (FDIC). In addition to serving as a member bank of the Federal Reserve Bank, they may also facilitate the auction process for U.S. Government bonds.
How the National Banks Operate
Internationally, national banks have the same significance as central banks. They are also synonymous with banks that are under the supervision of a country’s central government.
National banks play essential roles in the organization of a country’s financial system in both the United States and other nations throughout the globe.
It is always essential to have a functional banking system. It is essential to ensure financial stability, especially during a recession, whether through the U.S. Federal Reserve or a central bank.
In addition to facilitating daily transactions with their local Federal Reserve Bank, these institutions may also provide call records for the Fed. They must do this quarterly and ensure that the general public is aware of the reports.
List of the Best National Banks in America
The following is a list of the Best National Banks in America:
1. Chase Bank – Most Beneficial for New Customers
JPMorgan Chase Bank tops our list of the Best National Banks in America. This is one of the nation’s largest banks, with assets exceeding $3 trillion.
The Financial Deposit Insurance Corporation (FDIC) reports that Chase Banks has more than 4,000 domestic locations in 49 states. Chase Bank is also the largest bank in terms of assets and market capitalization in the United States.
The Chase Bank offers attractive bonuses for new savings and checking accounts. Over the years, millions of Americans have placed their financial security in the hands of Chase Bank.
Customers can open a comprehensive checking account with Chase. Once a monthly direct deposit of $500 or more is established, the bank will waive the $12 monthly fee for the checking account.
In addition to offering comprehensive checking accounts, Chase Bank is the best option for students. It provides a special checking account for pupils aged six to twenty-four.
If you are a college student under the age of 24, you can create a checking account at any branch today. Chase Bank has locations in 49 states across the United States.
If you frequently travel throughout the United States, you will most certainly encounter a Chase Bank location.
Chase Bank is not only one of the largest banks in the country, but also top one of the Best National Banks in America.
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2. Discover Bank – Cash Back Leader
Discover Bank is a well-known bank that provides online checking accounts. According to the Federal Deposit Insurance Corporation, this bank has two branch offices (FDIC).
One of the bank branches in Sussex, Delaware is, however, a full-service location.
Discover Bank offers an online checking account with perks for account holders who make monthly purchases of up to $3,000. You will get 1% cash back on purchases close to $3,000 made with your debit card.
With a Discover checking account, there are no fees associated with normal checks, cashier’s checks, or insufficient funds.
The bank’s savings account has the highest APR in the banking industry, at 3.00%.However, it is also among the Best National Banks in America.
3. Bank of America –Best for College Students
Bank of America is next on our list of the Best National Banks in America.
Bank of America, headquartered in Charlotte, North Carolina, is one of the nation’s largest banks. The Federal Deposit Insurance Corporation reports that this bank’s branches may be found in 38 states (FDIC).
There are almost 3,500 domestic locations in these 38 states. Also, Bank of America has thousands of ATMs dispersed across the country.
Bank of America provides various savings accounts in addition to checking accounts. Regardless of the amount you wish to save with Bank of America, the following alternatives are available to you:
Bank of America Advantage SafeBalance Banking: This account can be opened with a minimum of $25, and Bank of America will waive the $4.95 monthly cost for students under the age of 25.
Bank of America Advantage Plus Banking: A minimum deposit of $100 is required for this account. If you meet specific account requirements, the $12 monthly fee will be waived.
Relationship Banking with the Bank of America: Here, a minimum deposit of $100 is required. A $25 monthly fee may be waived if you meet specific account requirements.
4. CIT Bank- Best for Good Rates
CIT Bank is among the Best National Banks in America. Early in 2022, the bank merged with First Citizens Bank & Trust Company and now operates under the charter of First Citizens Bank & Trust Company.
CIT Bank does not operate any branches within the United States. Moreover, the bank has no ATM network whatsoever in the United States.
First Citizens Bank and CIT Bank are two distinct financial institutions. For example, if you enter a First Citizens branch, you will not be able to access your CIT Bank account.
5. Ally Bank- Best Online Bank
Similar to CIT Bank, Ally Bank has no branches in the United States. It is an online bank that provides exclusive services via its mobile app.
The mobile app for Ally includes an excellent function. The smartphone application includes the Zelle program, which allows you to send and receive payments.
Via Ally’s partnership with the Allpoint ATM network, you can access over 40,000 ATMs throughout the United States.
Ally also provides savings accounts, checking accounts, and money market accounts (MMAs) without monthly fees or minimum balance requirements. Every account holder, regardless of account balance, receives interest on all accounts.It is also among the Best National Banks in America.
6. Truist Bank- Best for Basic Accounts
After the 2019 merger of BB&T and SunTrust Bank, Truist Bank came into existence. The Federal Deposit Insurance Corporation (FDIC) reports that Truist Bank currently runs more than 2,000 branches in the United States.
Mid-Atlantic and Southeast are the regions where Truist has the most presence. Moreover, Truist has a large foothold in Texas.
The minimum initial deposit required to create a checking account at Truist Bank is $50. The Truist checking account is also known as Truist One Checking.
Moreover, Truist offers the One Savings account. To start a Truist One Savings account, a minimum deposit of $50 is required.
Truist Bank remains one of the nation’s largest and Best National Banks in America.
Related: 20 Best Banks in the U.S
7 Barclays: Best Savings Account
Barclays is among the Best National Banks in America. It is a high-yield online savings account with a full-service Delaware branch location.
Since Barclays exclusively offers savings accounts and certificates of deposit, no ATMs are available. To utilize Barclays, you must link multiple accounts to facilitate the transfer of funds.
In terms of total assets, Barclays is among the top 30 banks in the world.
8. CitiBank – Best for Large Balance Transfers
CitiBank is one of the United States’ most known financial firms. There are locations in places such as New York, Florida, California, and Illinois.
The Federal Deposit Insurance Corporation (FDIC) reports that CitiBank has over 600 branches nationwide. The bank offers four distinct banking packages that may meet virtually any financial circumstance.
CitiBank’s checking accounts include a complimentary partner savings account for customers who meet the account’s conditions.
For example, the bank’s Access checking account is free if you perform one bill-pay transaction or one Direct Deposit per week.It is also regarded as one of the Best National Banks in America.
9. PNC Bank- Best Checking/Savings Bundle
The Federal Deposit Insurance Corporation (FDIC) reports that PNC Bank has more than 2,000 branches in 29 states. Virtual Wallet is a combination of checking and savings products offered by the bank.
There is no minimum deposit requirement to open a checking account at PNC Bank. Nevertheless, the account includes a $7 monthly fee, and the only way to avoid it is to maintain a direct deposit of $500 or more.
PNC Bank is one of the largest banks and also one of the Best National Banks in America, with assets exceeding $500 billion.
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10. TD Bank- Best Checking Benefits
TD Bank has branches in around 16 states across the United States. Federal Deposit Insurance Corporation reports that there are currently over 1,100 branches in sixteen states (FDIC).
TD Bank provides TD Convenience Checking and TD Beyond Checking.
For the TD Convenience Checking account, a minimum balance of $100 is required to avoid a monthly fee, whereas for the TD Beyond Checking account, a minimum balance of $2,500 is required.
11. U.S Bank- Best Low Fees
U.S. Bank is among the Best National Banks in America. Throughout 28 states in the United States, U.S. Bank branches are likely to be located.
U.S. Bank allows you to start a checking account with a minimum deposit of $25. To avoid the $6.95 monthly maintenance cost, you must maintain a minimum account balance of $1,500.
The three types of savings accounts offered by U.S. Bank are the Basic Savings account, the Elite Money Market account, and the Retirement Money Market account.
12. Wells Fargo- Best In-Person Banking
Wells Fargo is one of the largest banks and also among the Best National Banks in America, with more than 4,500 locations. It remains one of the greatest national banks operating in 40b states in the United States.
Wells Fargo provides various types of checking and savings accounts. In addition, Wells Fargo offers an adolescent checking account for children as young as 13 years old.
13. BBVA – Top Money Market Interest Rates
BBVA appears on our ranking of the finest national banks in the United States. It offers a checking account that may be opened with a minimum deposit of $25.
The bank’s wallet allows users to track their purchases, activate new cards, make payments, and report lost or stolen cards, among other things.
14. TIAA Bank- Best Investment Bank
If you wish to invest some of your money, you should choose TIAA Bank. TIAA offers some of the most competitive CD rates on the market. Also, they provide three CDs: a Bump Rate CD, a Basic CD, and a Yield Promise CD.
The minimum amount required to open a Basic CD is $1,000. $5,000 is the minimum amount required to open the premium Yield Pledge CD.This is also another Best National Banks in America.
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15. SunTrust- Best Bank for Students
Our ranking of the Best National Banks in America concludes with SunTrust.
This bank is ideal for high school kids because it offers one of the best accounts. SunTrust does not charge monthly fees to high school students who maintain an account.
In addition to online banking with bill pay, account balance alerts, and mobile banking, SunTrust accounts provide so much more.
FAQs On Best National Banks in America
What is the most trusted bank in America?
The Lifestory Research 2022 America's Most Trusted® Bank Study found Chase the most trusted bank. The America's Most Trusted® Study is a large-scale survey of consumers in the United States that seeks to identify the brands that people trust the most within their respective industries.
Is there a national bank in the US?
As mentioned above, national banks in the United States are typically commercial banks, the largest of which include Chase Bank, Bank of America, Wells Fargo, Citibank. U.S. Bank, PNC Bank, Capital One, and others.
What bank is better than Wells Fargo?
With 4,000 more ATM locations than Wells Fargo, reduced fees and a wider variety of welcome bonuses, Chase is a better option for most customers.
Which is the No 1 bank in world?
Of the 50 top banks in the world by market capitalization, 11 are located in the USA, headed by JPMorgan Chase, which is the largest bank in the world in this ranking. Next on the list is mainland China with 9 banks, headed by Industrial & Commercial Bank, which is number two on the global list.
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