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Bankrate bank reviews

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank reviews is updated regularly. Our editorial team reviews each bank on customer service, savings accounts, checking accounts, money market accounts (MMAs) and certificates of deposits (CDs.) Sort banks by overall rating, or individual category and find the right bank for you.

All company reviews

5.0
Rating: 5 stars out of 5
Bankrate Score
Ally Bank is a one-stop shop for online-only banking customers from coast to coast. It offers a competitive yield on its savings account, money market account and its CDs. It is a part of a large fee-free ATM network and its checking account reimburses $10 worth of out-of-network ATM fees each statement period.
4.9
Rating: 4.9 stars out of 5
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Capital One Bank is among the 10 largest U.S. banks by assets. While it offers branches in seven Eastern and two Southern states, customers can access accounts online from just about anywhere. The bank offers high rates on its savings and CD accounts, and a free checking account that pays interest. There are no balance minimums or monthly fees, and you won’t need to worry about overdraft fees either.
4.8
Rating: 4.8 stars out of 5
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American Express National Bank is an online bank that offers savings and checking accounts with competitive yields, as well as some CDs that pay above-average rates. The checking account earns rewards for purchases, although it’s only available to those who have had an American Express card for at least three months.
4.8
Rating: 4.8 stars out of 5
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TIAA Bank is an online institution offering deposit accounts with competitive rates and low minimum balances, and customers have access to thousands of fee-free ATMs. While the bank maintains branches, only a limited number are available and just in Florida.
4.8
Rating: 4.8 stars out of 5
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BrioDirect is an online bank that offers multiple CDs, a money market account, a checking account and a savings account.
4.7
Rating: 4.7 stars out of 5
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Spring Bank is a regional bank with two locations in New York.
4.7
Rating: 4.7 stars out of 5
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American Airlines Federal Credit Union offers a range of banking and lending products for its airline industry members.
4.7
Rating: 4.7 stars out of 5
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Transportation Alliance Bank is mostly an online bank that offers deposit accounts for individuals and businesses, as well as commercial loans.
4.7
Rating: 4.7 stars out of 5
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Alliant Credit Union is an NCUA-insured credit union based in Chicago that offers deposit accounts with competitive APYs and minimal fees. It offers a highly rated mobile app as well as access to a wide network of surcharge-free ATMs.
4.7
Rating: 4.7 stars out of 5
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Quontic Bank is an online bank headquartered in New York known for innovation and paying competitive rates.
4.6
Rating: 4.6 stars out of 5
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Citibank is among the world’s largest financial institutions, with well over $1 trillion in assets. It offers a comprehensive selection of banking products. These include its High-Yield Savings account, its Basic Banking Package checking accounts, its CDs and its credit cards. It is also the largest bank to eliminate overdraft fees. Obtaining competitive yields on savings accounts at Citi will depend on where you live and whether you’re eligible for its High-Yield Savings account. Citi has more than 2,300 Citi ATMs and 60,000 fee-free ATMs. The bank also has more than 600 branches.
4.6
Rating: 4.6 stars out of 5
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First Internet Bank of Indiana has been around since February 1999. It is an online bank that serves all 50 states.
4.6
Rating: 4.6 stars out of 5
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Emigrant Bank is a federally insured online bank with two branch offices, one in Manhattan and one in Ossining, New York.
4.6
Rating: 4.6 stars out of 5
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Cross River Bank offers checking, money market and savings accounts as well as CDs. Consumers may find its single branch a deal breaker, but consumers in the New York City area looking for great rates on checking and savings may find it’s a good fit.
4.6
Rating: 4.6 stars out of 5
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Bank5 Connect offers a savings account, checking account and CDs with competitive yields and low minimum balance requirements.
4.6
Rating: 4.6 stars out of 5
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Quorum Federal Credit Union is based in Purchase, New York, and serves members nationwide.
4.6
Rating: 4.6 stars out of 5
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CIT Bank is an online institution that offers competitive annual percentage yields (APYs) on its savings accounts. It also offers a checking account and a money market account.
4.6
Rating: 4.6 stars out of 5
Bankrate Score
Simple is an online-only brand of a traditional bank. On Jan. 7, Simple parent company BBVA notified Simple customers that it would be shutting down the app-based banking service. Simple accounts will be transferred to BBVA accounts in the future. For now, Simple customers can continue using the Simple app or website to access their account and money.
4.5
Rating: 4.5 stars out of 5
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Connexus Credit Union has branch locations in the Midwest but offers deposit products and financial services to consumers from coast to coast.
4.5
Rating: 4.5 stars out of 5
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IGObanking, an online division of Flushing Bank, offers a range of deposit products to consumers nationwide.
4.5
Rating: 4.5 stars out of 5
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BankPurely is a financial institution created for environmentally conscious consumers.
4.5
Rating: 4.5 stars out of 5
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Banesco USA is an FDIC-insured institution with headquarters in South Florida.
4.5
Rating: 4.5 stars out of 5
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Sallie Mae Bank offers competitive APYs on its savings accounts, but it doesn’t offer a checking account.
4.5
Rating: 4.5 stars out of 5
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Ridgewood Savings Bank offers the personal attention of a community bank combined with an impressive lineup of digital banking tools and services. Customers have access to competitive savings rates and an extensive network of 55,000 surcharge-free ATMs worldwide in the AllPoint Network.
4.5
Rating: 4.5 stars out of 5
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The Federal Savings Bank specializes in mortgages for homebuyers, but also offers deposit products and personal loans. The bank offers savers options to earn interest on everyday bank accounts like checking and savings.
4.5
Rating: 4.5 stars out of 5
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Bethpage Federal Credit Union, the largest credit union in New York state, is a full-service banking institution. All of its deposit accounts are insured up to $250,000 through the National Credit Union Administration.
4.5
Rating: 4.5 stars out of 5
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SoFi Bank offers a competitive yield for checking and savings customers who have a qualifying direct deposit with SoFi.
4.4
Rating: 4.4 stars out of 5
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LendingClub Bank is an FDIC-insured online bank known as Radius Bank until it was acquired by LendingClub in February 2021. Consumers looking for an online bank that offers competitive yields, low fees and ample ATM access might consider LendingClub Bank a solid option.
4.4
Rating: 4.4 stars out of 5
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Salem Five Direct is best for savers who are comfortable banking online and who are seeking a competitive rate.
4.4
Rating: 4.4 stars out of 5
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Varo is a digital bank that prides itself on its technology and offers checking and savings accounts with unique online features.
4.4
Rating: 4.4 stars out of 5
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Rising Bank is a newer online division of Midwest BankCentre, a St. Louis-based community bank that’s been around for more than a century.
4.4
Rating: 4.4 stars out of 5
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BankDirect is an online-only bank that features competitive rates on some products and is available to customers in all 50 states.
4.4
Rating: 4.4 stars out of 5
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Star One Credit Union has been around for more than 60 years and is the largest credit union in Silicon Valley.
4.4
Rating: 4.4 stars out of 5
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Randolph-Brooks Federal Credit Union is one of America’s best credit unions and one of the largest in the state of Texas.
4.4
Rating: 4.4 stars out of 5
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CFG Bank is a community bank in Maryland that offers good to highly competitive rates on CDs and a money market account.
4.4
Rating: 4.4 stars out of 5
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Northpointe Bank is a Grand Rapids, Michigan-based bank that offers a variety of deposit products with competitive rates and charges low (if any) fees for the accounts.
4.4
Rating: 4.4 stars out of 5
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Axos Bank is an online bank that offers checking accounts, a savings account, a money market account and CDs.
4.4
Rating: 4.4 stars out of 5
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Based in Houston, Lone Star Bank is a federally insured community bank serving individual consumers and businesses, small and large.
4.3
Rating: 4.3 stars out of 5
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Discover Bank is an online institution within a financial services company offering various banking products, including deposit accounts, credit cards, personal loans and student loans. Discover’s online savings account comes with a competitive rate and no monthly fees. While the bank had offered a cash-back checking account, it is paused at this time.
4.3
Rating: 4.3 stars out of 5
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FNBO Direct is FNBO's online bank. It offers a checking account and a savings account nationwide.
4.3
Rating: 4.3 stars out of 5
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Patelco Credit Union is a full-service credit union serving members in Northern California.
4.3
Rating: 4.3 stars out of 5
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VyStar Credit Union is northeast Florida’s largest credit union offering various deposit accounts and services to hundreds of thousands of members.
4.2
Rating: 4.2 stars out of 5
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Marcus by Goldman Sachs is an online bank that offers personal loans and rewards savers with higher-than-average rates.
4.2
Rating: 4.2 stars out of 5
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For savers interested in basic online accounts without maintenance fees, Live Oak Bank offers a savings account and CDs that pay competitive rates. Those seeking money market or checking accounts, as well as a debit or ATM card, will need to look elsewhere.
4.2
Rating: 4.2 stars out of 5
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Synchrony Bank is an online bank that issues credit cards and offers several products that pay some of the best rates. But if you’re looking for a checking account at an online bank, you’ll want to consider other options such as Ally Bank or Capital One.
4.2
Rating: 4.2 stars out of 5
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Lake Michigan Credit Union is a full-service financial institution primarily serving members in Lower Michigan and southwestern Florida.
4.2
Rating: 4.2 stars out of 5
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M.Y. Safra Bank operates a branch in New York City and also offers strictly online accounts. It provides a full range of personal and business deposit products as well as loans and lines of credit.
4.2
Rating: 4.2 stars out of 5
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FNBA is a federally insured bank with more than $2.6 billion in assets. It opened in 1955 as First National Bank of East Lansing.
4.1
Rating: 4.1 stars out of 5
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Vio Bank is an online-only financial institution serving savers nationwide. The bank consistently offers top-tier rates on their money market account, but those looking for a checking account will need to go with another option.
4.1
Rating: 4.1 stars out of 5
Bankrate Score
Pentagon Federal Credit Union is one of the largest U.S. credit unions, based on assets and membership. It was created to serve members of the armed forces and federal government employees, but now anyone can join. It has members throughout the country. PenFed offers a wide range of CD terms that pay competitive rates, yet higher rates on savings accounts can be found elsewhere.
4.1
Rating: 4.1 stars out of 5
Bankrate Score
In April 2022, Comenity Direct became Bread Savings. The online-only bank offers a savings account and five terms of CDs with competitive yields. You’ll also find low minimum opening balance requirements, making it easy to open an account. Consumers in search of checking and money market accounts or who need access to a branch will want to look elsewhere.
4.1
Rating: 4.1 stars out of 5
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Presidential Bank is Bethesda, Maryland-based bank with 10 branches in the Washington metropolitan area. It offers a wide selection of deposit products.
4.1
Rating: 4.1 stars out of 5
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SchoolsFirst Federal Credit Union is California’s largest credit union. It has low minimum balances and most SchoolsFirst accounts come without a monthly fee.
4.1
Rating: 4.1 stars out of 5
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USAA Federal Savings Bank is a federally insured, members-only online bank that offers checking and savings accounts, CDs, credit cards, mortgages and other loans.
4.1
Rating: 4.1 stars out of 5
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Delta Community Credit Union is the largest credit union in Georgia. It has more than 461,000 members at its credit union and 31 branches.
4.1
Rating: 4.1 stars out of 5
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Suncoast Credit Union is Florida’s largest credit union. It offers savings accounts, a checking account, regular and jumbo CDs, a money market account and other banking options to its members.
4.1
Rating: 4.1 stars out of 5
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New York-based Apple Bank is known for offering competitive yields. It has about 80 locations in the New York City area.
4.1
Rating: 4.1 stars out of 5
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FinWise Bank is a Utah-based bank that offers affordable checking and savings accounts and CDs.
4.1
Rating: 4.1 stars out of 5
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HSBC Direct accounts are available across the U.S. through HSBC Bank USA. If you have an account, you can make a deposit or withdrawal at one of the HSBC locations in the U.S. HSBC Direct CDs offer decent APYs, and its checking account doesn’t charge a monthly maintenance fee.
4.0
Rating: 4 stars out of 5
Bankrate Score
Navy Federal Credit Union is the world’s largest credit union serving millions of military members and their families. It offers more than 350 branches worldwide and 24/7 customer service. Its savings account, money market account and CDs earn yields above the national average, but higher rates can still be found elsewhere.
4.0
Rating: 4 stars out of 5
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CIBC Bank USA offers a range of personal banking products and a high-yield savings account.
4.0
Rating: 4 stars out of 5
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Golden 1 Credit Union is one of the largest credit unions in the U.S. and offers members a wide selection of products and services. Most accounts require a small amount to open and many also feature low or no monthly fees.
4.0
Rating: 4 stars out of 5
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Customers Bank requires a large minimum balance to open and earn the APY on its High-Yield Savings Account.
3.9
Rating: 3.9 stars out of 5
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PNC is a bank that offers a full suite of deposit products, with branches in parts of the Northeast, South, Midwest and on the West Coast. While the bank offers competitive rates to customers who live in certain states, those who live elsewhere earn yields below the national average.
3.9
Rating: 3.9 stars out of 5
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Barclays is a London-based multinational financial-services giant with global reach. In the U.S., Barclays offers a limited selection of deposit products online.
3.8
Rating: 3.8 stars out of 5
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Morgan Stanley Private Bank offers a savings account, an interest-bearing checking account and a free checking account.
3.8
Rating: 3.8 stars out of 5
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OneWest Bank has more than 60 branches in Southern California and a full lineup of deposit and loan products, and online and mobile banking tools.
3.8
Rating: 3.8 stars out of 5
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Provident Bank has a sizable branch presence in New Jersey, a few locations in Pennsylvania and one in New York. it offers numerous checking account options and enough savings products to appeal to a wide base of customers. The bank does a good job of minimizing those pesky fees that consumers generally loathe.
3.8
Rating: 3.8 stars out of 5
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HSBC Bank USA is a subsidiary of HSBC, a London-based global bank founded in 1865 as the Hong Kong and Shanghai Banking Corp. It serves more than 40 million customers worldwide. Its U.S. headquarters are in McLean, Virginia.
3.8
Rating: 3.8 stars out of 5
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NASB is a midsize Kansas City bank with brick-and-mortar branches, as well as online banking services, digital wallets and a mobile app that broadens its reach and appeal. It offers attractive yields on CDs, checking, savings and money market accounts. It has a “switch kit” that helps ease the transfer of funds from other banks.
3.7
Rating: 3.7 stars out of 5
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Boeing Employees’ Credit Union is one of the largest credit unions in the U.S. It offers members a variety of checking and savings products along with many online banking features.
3.7
Rating: 3.7 stars out of 5
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Texas Capital Bank is a commercial bank based in Dallas that also offers consumer deposit products, credit cards and personal loans.
3.7
Rating: 3.7 stars out of 5
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Heritage Bank is based in Spicer, Minnesota. It offers checking accounts, savings accounts and CDs.
3.7
Rating: 3.7 stars out of 5
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Western State Bank is a well-established, federally insured bank based in North Dakota that offers deposit and loan products for individuals and businesses.
3.6
Rating: 3.6 stars out of 5
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TD Bank bills itself as “America’s Most Convenient Bank” because many of its branches are open for extended hours, seven days a week — as well as some holidays. It also offers customers access to nearly 2,700 ATMs. However, those seeking deposit accounts that pay competitive rates and charge lower fees may need to look elsewhere.
3.6
Rating: 3.6 stars out of 5
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Santander Bank has branches mainly in the Northeast. Its biggest presence is in Massachusetts, where it has nearly 200 locations.
3.6
Rating: 3.6 stars out of 5
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PurePoint is an online-only bank that offers a savings account and a range of CD terms, including no-penalty CDs.
3.6
Rating: 3.6 stars out of 5
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Union Bank serves customers on the West Coast with branch, telephone, online and mobile banking.
3.6
Rating: 3.6 stars out of 5
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NBKC offers competitive rates on deposit accounts for business and personal customers.
3.6
Rating: 3.6 stars out of 5
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Third Federal Savings & Loan Association is a Cleveland-based financial institution that supports local communities in Ohio and Florida and offers some banking products online.
3.6
Rating: 3.6 stars out of 5
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State Farm Bank offers a variety of deposit, loan and financial card accounts. However, it will stop taking applicants on Sept. 25 as its deposit and credit card accounts begin to convert to U.S. Bank accounts. Existing deposit accounts will convert to U.S. Bank accounts on Oct. 10.
3.5
Rating: 3.5 stars out of 5
Bankrate Score
With a massive branch network and breadth of product offerings, Chase is often viewed as the country's signature banking institution. Customers can choose from a full range of banking services, including checking and savings accounts as well as CDs. But if you’re looking for a bank that pays competitive rates, you’ll want to look elsewhere.
3.5
Rating: 3.5 stars out of 5
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Arvest Bank is a regional bank based in Bentonville, Arkansas, that offers accounts to residents of Arkansas, Kansas, Oklahoma and Missouri.
3.5
Rating: 3.5 stars out of 5
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Founded in 1953, Umpqua Bank is the largest regional bank in the Pacific Northwest. It has nearly $30 billion in assets.
3.5
Rating: 3.5 stars out of 5
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Fifth Third Bank is a regional financial institution with customers in 11 states and more than 1,090 branches.
3.5
Rating: 3.5 stars out of 5
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Investors Bank has been around for more than 90 years and offers a variety of banking products online and at more than 150 branches.
3.5
Rating: 3.5 stars out of 5
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Investors eAccess is the online-only division of Investors Bank, an institution with a more than 90-year history with branches in New Jersey, New York City and Long Island.
3.5
Rating: 3.5 stars out of 5
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Citizens Access is an online bank with no branches that offers savings products. It is a division of Citizens Bank.
3.5
Rating: 3.5 stars out of 5
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M&T Bank has its headquarters in Buffalo, New York, and is the 25th largest bank in the U.S. based on assets.
3.4
Rating: 3.4 stars out of 5
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U.S. Bank is a large commercial bank that offers consumers who value the big bank experience a full range of products and services.
3.4
Rating: 3.4 stars out of 5
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Wells Fargo is a big bank with the second most branches in the U.S. and locations in 39 states and Washington, D.C, as of June 2022. But the bank has also faced heavy scrutiny by regulators in recent years for opening fake accounts and other offenses. While you generally won’t find attractive yields here, Wells Fargo’s checking account scores highly in our analysis.
3.4
Rating: 3.4 stars out of 5
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Bask Bank is an online bank that offers one savings account that earns interest and another that earns American Airlines miles.
3.4
Rating: 3.4 stars out of 5
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Amerant Bank is a Florida-based institution that offers six terms of CDs, as well as checking, savings and money market accounts.
3.4
Rating: 3.4 stars out of 5
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Sterling National Bank is a regional bank in New York in the midst of a merger with Webster Bank.
3.4
Rating: 3.4 stars out of 5
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KeyBank is a regional bank that operates more than 1,000 full-service branches.
3.4
Rating: 3.4 stars out of 5
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Established in 1888, Synovus is a full-service bank that offers deposit products, loans and financial planning and investing services.
3.4
Rating: 3.4 stars out of 5
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In addition to the U.S., BMO Harris has a presence in many countries around the globe. Its products and services are geared toward a broad range of customers, from modest income earners to the wealthy.
3.4
Rating: 3.4 stars out of 5
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Popular Direct serves mobile and online banking customers across the country and pays competitive rates.
3.4
Rating: 3.4 stars out of 5
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The Huntington National Bank offers consumer-friendly products and a network of more than 1,100 branches mostly in the Midwest and South.
3.4
Rating: 3.4 stars out of 5
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SunTrust is a bank that focuses on individuals who live in the southeastern United States. The bank merged with BB&T to become Truist; however, the brands offer separate products for now.
3.4
Rating: 3.4 stars out of 5
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BBVA is a full-service bank with a range of deposit products. It was recently acquired by PNC, and the transaction is expected to close in mid-2021.
3.3
Rating: 3.3 stars out of 5
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Bank of America is the second-largest financial institution (based on assets) in the country. It’s a digital leader with a global presence and roughly 67 million customers.
3.3
Rating: 3.3 stars out of 5
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Truist was formed from the 2019 merger of BB&T and SunTrust banks. Truist was the seventh largest U.S. bank as of Dec. 31, 2021, according to the Federal Reserve.
3.3
Rating: 3.3 stars out of 5
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Bank of Hope describes itself as “the only super regional Korean-American bank in the U.S.” It operates full-service branches in nine states.
3.3
Rating: 3.3 stars out of 5
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Valley National Bank is a regional bank that offers consumer deposit products, mortgages and auto loans, financial planning, asset management and a variety of business products.
3.3
Rating: 3.3 stars out of 5
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WebBank offers decent yields on CDs and savings accounts for consumers who are looking for a digital bank.
3.3
Rating: 3.3 stars out of 5
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GTE is a full-service credit union offering checking, savings and money market accounts, CDs, IRAs and a host of other products and services. It offers a highly rated mobile app and bill pay to members, along with more than 20 branch locations and an extensive ATM network.
3.2
Rating: 3.2 stars out of 5
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Citizens Bank could be a good fit for those looking for a bank in the 11 states in the Eastern U.S. where it has branches.
3.2
Rating: 3.2 stars out of 5
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Mutual of Omaha Bank is a regional bank that offers certificates of deposits, savings and checking accounts.
3.1
Rating: 3.1 stars out of 5
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BB&T is an accessible, one-stop-shop option for people looking for a financial institution in certain states in the Midwest, South and East Coast. The bank merged with SunTrust to become Truist; however, the brands offer separate products for now.
2.9
Rating: 2.9 stars out of 5
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UFB Direct is an online-only bank offering savings and money market accounts that come with digital banking tools, including a highly rated mobile app.
2.9
Rating: 2.9 stars out of 5
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First Republic Bank is a bank and wealth management company with about 87 offices in multiple cities across the United States.
2.7
Rating: 2.7 stars out of 5
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Limelight Bank is the online division of Capital Community Bank. It offers competitive yields on CDs, but it doesn’t offer any other types of bank accounts.
2.4
Rating: 2.4 stars out of 5
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Credit One Bank offers jumbo CDs and credit cards. Those looking for savings and checking accounts will need to bank somewhere else.
2.3
Rating: 2.3 stars out of 5
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Merrick Bank offers some of the best CD rates nationwide, but it doesn't offer other deposit products.