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.
The banks that made Bankate’s best big banks of 2022 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.
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.
1. Capital One
Capital One is Bankrate’s best big bank for the fifth straight year. Capital One’s competitive yields rival savings accounts and longer-term 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.
In 2021, Capital One began offering customers access to direct deposits up to two days early and announced it would eliminate overdraft fees, following industry trends.
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 charge no 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.
Citibank, the fourth-largest bank in the U.S. based by 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: Citbank has about 700 branches in the U.S.
Competitive savings yields: Online, Citibank offers a competitive yield on it savings account — but it’s not available everywhere.
3. PNC Bank
PNC closed on its purchase of BBVA in June 2021, giving PNC about 600 additional branches in seven states, for a total of more than 2,160.
PNC earned Bankrate’s third-highest score for big banks, standing out for its digital tools, high-yield savings account and avoidable fees.
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 the 21 states where it has no branches, offers a competitive APY and has no minimum deposit requirement.
Low fees: The high-yield savings account and three PNC checking accounts charge no monthly maintenance fee. Other products, however, such as the money market account, do charge a fee, though it can be waived if the minimum balance requirement is met. Account availability varies by region.
4. TD Bank (tie)
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.
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.
4. Chase Bank (tie)
Chase is the largest bank in the U.S. based on assets and has the second-most branches in the country. The big bank also offers top-notch digital tools.
Branch footprint: Chase has an extensive network of about 4,800 branches in every state in the Lower 48. The number of branches is second only to Wells Fargo.
Bank account bonuses: Chase routinely offers cash incentives on some 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.