5 Best National Banks For Savings & Checking Account Of June 2023

Reviewed by Jazmin Castello - MBA
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Bank of America

Bank of America

Positive customer reviews

5.0 stars

Chase Bank

Chase Bank

Best checking account for sign-up bonuses

5.0 stars

Discover Bank

Discover Bank

Best for cashback

5.0 stars

The best national banks are found across the country with extensive ATM networks and physical branches. They provide strong interest rates and sign-up bonuses, among other features. You will find both online and brick-and-mortar banks. When choosing the national banks, we considered several metrics, including low fees and top-notch branch experience. Here is an in-depth review of the top national banks in the country.

Top 5 Best National Banks For Savings & Checking Account 2023

Top 5 Best National Banks For Savings & Checking Account of June 2023

Bank Of America

Bank of America is the highest-ranked national bank by JD Power in the Retail Banking Satisfaction Study for its online presence. It is a full-service national bank offering in-person banking through its 4,300 financial centers across the country. The bank maintains a strong digital presence through mobile applications and online banking platforms.

  • Minimal interest rates
  • It has a network of branches and ATM locations across the country
  • The monthly maintenance fees can be easily waived
  • It has a powerful online present 
  • The bank waives non-BoA ATM fees for the first six months
  • This bank has high account maintenance fees compared to TD Bank and Wells Fargo
  • It requires a $35 overdraft fees
  • The opening accounts balance requirement is also higher compared to Wells Fargo and TD Bank

Bank of America has minimal interest rates on checking accounts, savings accounts, and certificates of deposit. Alongside personal banking, Bank of America offers business and commercial banking services. The savings account requires a $100 minimum deposit to open and comes with an $8 monthly maintenance fee. You can avoid the monthly fee by having at least one qualifying direct deposit of $250 or maintaining a minimum daily balance of $1,500 or more. You will get access to over 17,000 ATMs in America.

Bank of America is about earning cashback and making savings. They also offer specific bank accounts for students under 24 years of age. There are over 4,300 branch locations in about 35 states and Washington, DC. This bank offers a high level of customer service across its online platform and brick-and-mortar branches. However, it requires paying an overdraft fee.

Chase Bank

Chase is the largest bank in America by deposits and one of the nation’s largest full-service banks. It has over 45 branches with about 16,000 ATMs.Chase bank’s checking sign-up bonus sets it apart from other banks like Wells Fargo, PNC Bank, or CITI bank. 

  • It has a top-rated mobile application
  • No minimum deposit to open an account
  • No annual percentage yield
  • Over 16,000 chase ATMs around the country
  • High overdraft fee

This bank offers a broad range of financial services and products, including checking, savings, and CD accounts to individuals and businesses. It is known for its extensive credit card offerings, including cashback credit cards and travel rewards. You can find Chase bank ATMs and bank branches across the country alongside a robust online presence. The Chase Total checking account features monthly service fees, though the company offers ways to waive these fees. Its self-directed investment account doesn’t require minimum investment.

The bank also ranks highly for customer satisfaction, offering extended hours for customer service via phone. They have a mobile app available for iOS and Android allowing account management, electronic transfers, bill pay service, Zelle Compatibility, wire transfer, mobile check deposit, and automated savings. This bank offers several signup bonuses for new checking customers who sign up with direct deposits. If you are a college student between 17 and 24 years you can get $100 by opening a chase College checking account 

Discover Bank

Discover Bank

Visit Website

Read Discover Bank Review

Discover Bank offers a cashback checking account, a high-yield savings account, a money market, and CDs from three months to 10 years. The rates start at 5.99& for a maximum loan amount of $35,000.

  • Options to send funds to creditors director name
  • High rated mobile application
  • Extensive ATM network
  • 24/7 customer service
  • Competitive APIs
  • Doesn’t pay interest on the checking and savings accounts
  • Lower rates compared to other banks and credit unions like Wells Fargo, Citizens Bank or TD Bank

This is the largest online-only bank in the US, offering 100% US-based customer service. It is a full-service online bank and payment service company offering banking and retirement solutions. As a strictly online bank, Discover doesn’t have local branches to visit for personal banking.  You can use the zero account fees and same-day loan approvals and fundings. The checking account earns 1% cashback on up to $3,000 of qualifying debit card purchases each month. There is also a savings account that pays a competitive rate alongside a suite of other products and services.

Discover bank keeps its fees to a minimum, as it doesn’t charge monthly fees. There are no fees for stop payment orders, excessive withdrawals, or returned items. You also pay minimal ATM fees for using out-of-network ATMs. You can have access to an extensive ATM network. This offers mobile banking with a highly rated app on the App Store and Google Play. Discover has over 60,000 ATMs nationwide. It is best known for its rewards credit cards and as a leader with personal, student, and home equity loans. It has excellent customer service available 24 hours a day.

Alliant Credit Union

Alliant Credit Union High-Rate Savings Account

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Read Alliant Credit Union Review

Alliant Credit Union is an online bank offering nationwide accessibility, competitive interest rates, and no monthly fee across deposit accounts. Their checking account offers dividends without a high balance requirement. Their ATM network includes more than 80,000 branch locations in convenient areas such as grocery stores and credit unions.

  • There is no minimum balance requirement on checking accounts
  • You can easily dodge the monthly service fee
  • Competitive APRs on deposit accounts
  • Over 80,0000 fee-free ATMs with varied options
  • It charges a $1 per month paper statement fee
  • The bank does not have branches, offering online banking

A bank is a solid option for people comfortable with digital banking and has a loan or credit card through Alliant. It has excellent online and mobile banking tools available on Android and iOS devices. Its mobile app features a planning tool to help users create and monitor budgets and set financial goals. You can deposit cash regularly, monitor balances, and make payments with bill pay.

However, they don’t accept deposits at all locations. If you use an ATM outside the network, this bank offers $20 per month in ATM fees rebate. It applies to deposits, withdrawals, transfers, and balance inquiries. Its competitive APYs and offering of additional savings accounts make it easier to save for specific goals. You can easily dodge monthly fees. 

Ally Bank

Ally Bank Online Savings Account

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Read Ally Bank Review

This bank offers checking and savings accounts, money market accounts, and CD terms from three months to five years. It earns high customer satisfaction scores and offers consistently competitive rates on its products.  The bank doesn’t have a minimum opening deposit for an account, meaning you can get started with any amount.

  • There are no monthly fees 
  • The mobile application lets you access your account 24/7 to check balances
  • High annual percentage yield (APY)
  • No account minimums opening deposit
  • Savings bucket to help you save for different goals
  • You must maintain a $15,000 balance to earn the highest APY
  • The account is closed if you don’t fund your account within 30 days

This bank has generous ATM access with over 43,000 ATMs nationwide. It reimburses up to $10 per statement cycle for fees charged at out-of-network ATMs. It is one of the many online banks with competitive rates, low fees, and no minimums. This bank has a mobile application that allows you to perform a variety of activities. You can check balances,  find ATMs,  pay bills and conduct other banking businesses with 24/7 access to your account. You can contact Ally customer support 24/7, either over the phone, via live online chat, or national banks FAQs. Its mobile app is available on Android and iOS platforms.

Like PNC Bank, Ally bank suits consumers who are comfortable banking from their phones. Apart from the checking, savings, money market, and CDs, Ally provides personal loans, mortgages, and auto loans. Like Wells Fargo, this bank makes it easy to save and set up a separate savings bucket for different goals such as travel funds or emergency savings. If you enroll in overdraft protection and link to an Ally savings or money market account,  you can avoid the overdraft fees.

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What Does It Mean To Be A National Bank?

A national bank is a bank chartered by the US government and available in at least 15 states.

It is federally chartered, well-known, and has a vast number of branches and ATMs. The financial institution has at least 1,000 branches and is available to people living in almost every state. They are different from regional and community banks whose reach is limited to their locations.

Benefits of National Banks (Monthly Fees & Checking Accounts)

The best national bank offers the security of a brand name along with the convenience of many bank branches. These are large financial groups that span across the entire country. They make it easy for account holders to access their services whenever necessary due to widespread accessibility. The best bank offers attractive features, including competitive interest rates and high maximum loan amounts. You get more access to more than basic accounts and loans as they have special advisors on investing and brokering. They also offer better electronic resources such as online and mobile banking options.

How To Find The Best National Bank That Works For You

There are some characteristics of national banks to consider. Give priority to checking, and savings accounts with no monthly fees, free ATM withdrawals, and higher interest rates.  If you want to get the most of your money, find a bank that pays a competitive APY on its financial products. Lower minimum deposit and balance requirements also make it easy to maintain investment accounts.  Your money is safe in any bank that’s insured by the Federal Deposit Insurance Corp.

Also, look at the product offerings when choosing a bank that works for you. Find full-service financial institutions offering checking, savings, money market accounts, and CDs, among other products. Another important factor is to look at the ATM network of the national bank. Since access to cash is a priority to many people, look for national banks that offer an excessive fee-free ATM network. The digital banking experience is another important factor to consider when choosing a national bank. The best bank provides a simple online interface and highly rated mobile applications for its banking customers.

Frequently Asked Questions (FAQs)

What is a national bank?

A national bank is a financial institution in at least 15 states and has over 1,000 branches. Most online banks are available to people living in almost every state.

What makes big banks different from smaller banks?

A big national bank serves a whole country compared to a smaller bank. While a regional bank serves only a few neighboring states, a national bank serves the whole country. It has more technological resources and a wider variety of products.

How much interest do the big banks pay?

National brick-and-mortar banks don’t have the highest interest rates on savings accounts. They pay around the national average for savings of 0.06%.

Are national banks better than other kinds of banks?

The best national bank depends on your needs and preference. If you prefer in-person accessibility, a national brick-and-mortar bank will be a good fit as you will find branches everywhere. They are also the best bank if you are interested in the best rates and large ATM networks.

Are the best national banks online or brick-and-mortar?

Many of the best nationwide banks are online banks because they offer better interest rates on deposits compared to brick-and-mortar banks. However, some brick-and-mortar banks stand out because of their sign-up bonuses and customer service.



Billy Graham is a Highly skilled copywriter/editor with over 8+ years of experience working for content mills, direct clients, and SEO marketing agencies alike. Possesses extensive expertise in crafting unique copy, exceeding editorial goals, and delivering first-rate client-focused service in results-driven content production. Specialties include gaming, branded content, short-form to long-form copywriting, call-to-action, buying guides, how-to – articles, product reviews, and comparisons, copy editing, proofreading, complete QA, and in-depth research.


Jazmin Castello holds a Master's degree in Business Management, owns two companies, and has also published a self-help book. When she is not working or writing, she likes to spend time with her family and to travel.

+ 1 sources

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  1. Google Books. (2013). Plan for the Establishment of a National Bank. [online] Available at: https://books.google.com.vn/books?hl=en&lr=&id=j-ozAQAAMAAJ&oi=fnd&pg=PA1&dq=national+bank&ots=ZSd5NobGCJ&sig=9yksITcIuiwUzekBh-rLG4k-Yxc&redir_esc=y#v=onepage&q=national%20bank&f=false [Accessed 20 Feb. 2022].

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