Best Banks in Colorado
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In Colorado and looking for a new bank? This useful guide to the best banks in Colorado will make finding one easy.
U.S. Bank Smartly® Checking and Standard Savings - Up to $700 Bonus
Earn up to $500 with a new Bank Smartly Checking account. Complete the following within 90 days of account opening:
- Enroll in online banking or the U.S. Bank Mobile App
- Make two or more direct deposit(s) totaling $3,000 to $4,999.99 to earn $100, $5,000 to $9,999.99 to earn $300 or $10,000 or more to earn $500
Earn up to $200 with a new Standard Savings account.
- Make new money deposit(s) totaling $15,000 or more by July 17, 2024
- Maintain that balance until October 31, 2024
Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.
BMO Smart Advantage Checking - $250 Cash Bonus
Open a new BMO Smart Advantage Checking account and get a $250 cash bonus when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- Access to more than 15,000 Chase ATMs and more than 4,700 branches
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- JPMorgan Chase Bank, N.A. Member FDIC
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Bank of America Advantage Banking - $200 Bonus Offer
- The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new checking customers only.
- Offer expires 5/31/2024.
- To qualify, open a Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new account within 90 days of opening.
- Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- Bank of America, N.A. Member FDIC.
Key Select Checking® - $200 Bonus
- Open a Key Select Checking® account online by July 19, 2024.
- Make the minimum opening deposit of $50, plus one direct deposit of at least $500 within the first 60 days of account opening.
- Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements. Account must not be closed or restricted during the time of promotional period.
Key Select Checking® is a premium checking account that earns interest and a $100 cash bonus year after year with qualifying activities and has a waivable monthly maintenance fee.
Choosing the right bank can be a daunting task. But it's a pretty important decision for your financial wellbeing.
So, how can you tell which is right for you?
This list of the best banks in Colorado can save you the trouble. Find out which Colorado banks earn top marks for checking, savings, and more.
High-Yield Savings Premier - 5.36% APY
- No account activity or maintenance fees
- $500 minimum opening deposit
- FDIC insured
CIT Bank Platinum Savings - 5.05% APY
- 5.05% APY with a balance of $5,000 or more
- 0.25% APY with a balance of less than $5,000
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
UFB Secure Savings - Earn up to 5.25% APY
- Earn up to 5.25% APY*
- No monthly maintenance fees
- No minimum deposit required to open an account
- Access your funds 24/7 with easy-to-use digital banking tools
How to Choose the Right Bank For You
Each bank isn't necessarily right for every customer. The bank you choose will ultimately depend on your own personal needs. Ask yourself the following questions at the start of your search:
- Does the bank serve your area?
- Does it offer special services for your demographic? (student, business owners, etc.)
- Does it offers the services you want, at a price you can afford?
- Does the bank make it easy to bank with them? (Online banking, branch access, etc.)
We're certain you'll find a bank that works for you here, regardless of your banking needs.
6 Best Banks in Colorado
By looking at a variety of factors and features, you can identify the best bank to fit your needs. Now let's jump in and look at the top banks in Colorado.
BMO Smart Money Checking - $250 Cash Bonus
Open a new BMO Smart Money Checking account and get a $250 cash bonus when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.
Chase Secure Banking℠ - $100 Bonus
- New Chase checking customers enjoy a $100 checking account bonus when you open a Chase Secure Banking℠ account with qualifying transactions. Open online or at any Chase branch.
- Set up direct deposit and you may get your money up to two business days early-exclusively for Chase Secure Banking℠ customers.
- No minimum deposit to open an account and get started plus no overdraft fees with a Chase debit card that helps you stay within your balance.
- No need to worry about overdraft fees - Chase Secure Banking℠ allows you to spend only the money you have available.
- Chase Secure Banking℠ customers told us they save an average of more than $40 per month on fees after opening their account.
- Track your credit score, get a personalized action plan provided by Experian™ to help improve your score and receive identity monitoring for free through Chase Credit Journey®.
- Pay bills, cash checks and send or receive money with Zelle® with a Chase Secure Banking℠ account.
- Bank from anywhere with access to more than 15,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and Chase.com.
- JPMorgan Chase Bank, N.A. Member FDIC.
Bank of America Business Advantage Checking Account - $200 Bonus Offer
- Open a new eligible business checking account by June 30, 2024
- Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
- Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC
Silver Business Checking Package - Up to $800 Bonus
Earn up to $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q2AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through August 30, 2024. Member FDIC. Complete these steps to earn the offer:
Earn your $400.
- Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Earn your $800.
- Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Key Smart Checking® - $200 Bonus
- Open a Key Smart Checking® account online by July 19, 2024.
- Make the minimum opening deposit of $10, plus one direct deposit of at least $500 within the first 60 days of account opening.
- Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements. Account must not be closed or restricted during the time of promotional period.
US Bank: Best National Bank
When it comes to banking, there's a lot to be said for going with a major institution, and in Colorado, US Bank is one of the biggest. US Bank's parent company, US Bancorp, is ranked as the fifth largest banking institution in the country.[1]
They have 109 locations in Colorado at time of writing, more than many of their competitors, with 65 of them in Denver alone.
By choosing to go with US Bank, you get access to over 2,000 branches across the country, and nearly 5,000 ATMs. Services they offer include a range of personal banking options like checking and savings accounts, credit and lending services, and more.
And in addition to their physical locations, they also have an easy-to-use mobile app, to get your banking done wherever you go.
U.S. Bank Smartly® Checking and Standard Savings - Up to $700 Bonus
Earn up to $500 with a new Bank Smartly Checking account. Complete the following within 90 days of account opening:
- Enroll in online banking or the U.S. Bank Mobile App
- Make two or more direct deposit(s) totaling $3,000 to $4,999.99 to earn $100, $5,000 to $9,999.99 to earn $300 or $10,000 or more to earn $500
Earn up to $200 with a new Standard Savings account.
- Make new money deposit(s) totaling $15,000 or more by July 17, 2024
- Maintain that balance until October 31, 2024
Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.
Silver Business Checking Package - Up to $800 Bonus
Earn up to $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q2AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through August 30, 2024. Member FDIC. Complete these steps to earn the offer:
Earn your $400.
- Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Earn your $800.
- Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Gold Business Checking Package - Up to $800 Bonus
Earn up to $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q2AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through August 30, 2024. Member FDIC. Complete these steps to earn the offer:
Earn your $400.
- Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Earn your $800.
- Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Platinum Business Checking Package - Up to $800 Bonus
Earn up to $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q2AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through August 30, 2024. Member FDIC. Complete these steps to earn the offer:
Earn your $400.
- Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Earn your $800.
- Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
U.S. Bank Payment Solutions
- Accept payments online, in-store and on the go.
- Swipe, tap, insert: 2.60% + 10¢
- Key-in transaction: 3.50% + 15¢
- Online payments: 2.90% + 30¢
- Access funds quickly. With Everyday Funding feature, you can access your payments within hours, seven days a week.
Platinum Business Money Market Account - 4.60% APY
Receive a bonus interest rate of 4.50% (4.60% APY) from the account opening date when you open a new Platinum Business Money Market Account and complete qualifying activities1, subject to certain terms and limitations. Offer valid through June 5, 2024. Member FDIC. Complete these steps to earn the offer:
- Open a new Platinum Business Money Market Account
- Deposit $25,000 - $2,999,999.99 in new money deposits
Automated Investor by U.S. Bancorp Investments
- Investing is made easy with Automated Investor!
- Whether you're just starting out or well on your way, our robo-advisor can help you work towards your goals with low fees and a low minimum of just $1,000. With ongoing rebalancing as the markets change, it helps you stay on track and minimize risk so your money can work harder for you. Questions? Human help is always just a phone call away. Get started in just minutes.
- Only available to existing clients of U.S. Bancorp Investments and its affiliate U.S. Bank. Not a customer yet? Get started by calling 866-758-8655.
FirstBank: Best Regional Bank
Of course, national banks aren't for everyone. You may be of the opinion that a bank serving the whole country can't serve locals as well as a local bank can. If that's the case, we recommend FirstBank, our top pick for regional banks from Colorado.
Founded in Lakewood, Colorado in 1963, FirstBank has since grown to one of the largest privately held banks in the country, and in Colorado their total deposits come second only to Wells Fargo.
Their history of serving Coloradans means they understand them better than banks from other states, and may be able to offer better services than even their larger competitors.
FirstBank offers both in-person and online banking services, personal and business bank accounts, and a range of lending services.
Personal Checking Account - $300 Bonus
Open a new Bloom Package (Bloom Checking, Bloom Savings, Online Banking, eStatements, and FirstBank Visa Debit Card). Within 120 days of account opening, enroll in online banking and have at least one qualifying direct deposit of $500 or more per month for 3 consecutive months. The first required direct deposit must be made within 60 days of account opening.
Bank of Colorado: Best Local Bank
If you want to get really local, the Bank of Colorado is a local bank with a long history in the Centennial State. Founded all the way back in 1900, the Bank of Colorado has 45 branches, and all but three of them are in Colorado.
While you might not get the same bells and whistles you'll find at a national bank, you can be sure that a local bank like this one will understand your needs as a customer.
Colorado residents get access to free checking with the Bank of Colorado, not to mention savings and home and auto loans. They have locations all around the state, including Denver, Lakewood, Colorado Springs, and dozens of other cities.
And for local business looking to satisfy their banking needs, they offer business banking in addition to their selection of personal banking services.
Growth Account
- No monthly service charge
- $100 minimum opening deposit
- No minimum balance requirement
Chase: Best for Checking
If checking is your primary concern, you might consider Chase Bank.
All three of Chase's checking accounts provide access to their branches and ATMs, online banking services, Autosave automatic transfers, Chase First Banking—an account for parents with a debit card for kids, and no overdraft fees for negative balances less than $50.
Another one of Chase's best features is their branch access. Chase operates 118 branches in Colorado alone, with more than 4,700 branches and over 15,000 ATMs in the U.S.
This can also prove a huge benefit if you're frequently on the road, since you can be sure you're never too far from access to your finances.
They also have a sleek, easy-to-use mobile app, which makes it a breeze to pay bills or cash checks wherever you are. In terms of pure convenience, Chase may be the winner.
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- Access to more than 15,000 Chase ATMs and more than 4,700 branches
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- JPMorgan Chase Bank, N.A. Member FDIC
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Chase Secure Banking℠ - $100 Bonus
- New Chase checking customers enjoy a $100 checking account bonus when you open a Chase Secure Banking℠ account with qualifying transactions. Open online or at any Chase branch.
- Set up direct deposit and you may get your money up to two business days early-exclusively for Chase Secure Banking℠ customers.
- No minimum deposit to open an account and get started plus no overdraft fees with a Chase debit card that helps you stay within your balance.
- No need to worry about overdraft fees - Chase Secure Banking℠ allows you to spend only the money you have available.
- Chase Secure Banking℠ customers told us they save an average of more than $40 per month on fees after opening their account.
- Track your credit score, get a personalized action plan provided by Experian™ to help improve your score and receive identity monitoring for free through Chase Credit Journey®.
- Pay bills, cash checks and send or receive money with Zelle® with a Chase Secure Banking℠ account.
- Bank from anywhere with access to more than 15,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and Chase.com.
- JPMorgan Chase Bank, N.A. Member FDIC.
Chase College Checking℠ - $100 Bonus
- Enjoy $100 as a new Chase checking customer when you open a Chase College Checking℠ account and complete 10 qualifying transactions within 60 days of coupon enrollment.
- No Monthly Service Fee while in school up to the graduation date provided at account opening (five years maximum) for students 17-24 years old.
- Students ages 18-24 with a Social Security Number can open an account online or at a Chase branch. Students with no Social Security number or who are 17-year-olds can only open an account at a branch.
- Keep track of your money in the Chase Mobile® app. The app helps you manage your money.
- Zelle® is available in more than 1,000 banking apps in the U.S. So you can send and receive money from almost anyone you know and trust who has a bank account in the U.S.
- Access to more than 15,000 Chase ATMs and more than 4,700 branches.
- JPMorgan Chase Bank, N.A. Member FDIC
- Chase Overdraft Assist℠ - no overdraft fee if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Chase Private Client - Up to $3,000 Bonus
- You're eligible for up to a $3,000 bonus when you open a new Chase Private Client Checking℠ account with qualifying activities.
- Speak with a Private Client Banker to open your Chase Private Client Checking℠ account today. Schedule your meeting at your nearest branch or over the phone.
- Priority service for everyday banking. Receive personalized attention from a dedicated Chase Private Client Banker who is ready to help you.
Earn $1,000 when you deposit $150,000 or earn $2,000 when you deposit $250,000 or earn $3,000 when you deposit $500,000. - No ATM fees worldwide.
- No Chase fee on incoming or outgoing wire transfers.
- Enjoy higher limits on Chase Private Client debit card purchases and ATM withdrawals, as well as higher Zelle® and Chase QuickDeposit℠ limits.
- Deposit products provided by JPMorgan Chase Bank, N.A. Member FDIC. Deposit products are FDIC insured up to the maximum amount allowed by law.
CIT Bank: Best Online Bank
CIT Bank is a popular online bank that offers a range of services including high returns on deposits into their savings accounts.
The CIT Savings Builder offers a generous APY with no minimum deposit to open.
CIT is primarily known for savings and CDs, allowing you to grow your wealth through the power of compound interest.
And as an online bank, they're able to cut down on overhead and pass those savings on to you. That's how they can avoid charging any monthly account fees.
With their RampUP CD, CIT ensures you won't get locked into a lower rate if the rates happen to increase after you sign up. If CIT adjusts their rates, you have one opportunity to increase yours as well.
Not to worry if you need to make deposits. That can be done easily through their mobile app, with no need to visit a physical branch office.
Wells Fargo: Best for Small Business Owners
For small business owners in the state of Colorado, the bank of choice may be Wells Fargo.
Wells Fargo continues to be among the most active SBA 7(a) lenders according to reports provided by the Small Business Administration (SBA).[2]
Wells Fargo excels in services that small business owners rely on, including bank accounts, merchant services, and lending. Wells Fargo also has its own business loan offerings in addition to those provided through the SBA.
They earn top marks for transparency, as well. While many business-oriented banks won't disclose interest rates on their loans until you visit a branch office, Wells Fargo posts their rates publicly.
Small business owners will also appreciate the Wells Fargo Initiate Business Checking account, a rarity in business checking thanks to its easily achievable fee waiver.
Savings Account - $525 Bonus
Open a new eligible consumer savings account. Provide the bonus code at account opening. Bonus code can be obtained by providing your email address. Deposit $25,000 or more in new money to the savings account within 30 days of account opening. Maintain at least $25,000 in the account until 90 days after account opening.
Personal Checking Account - $300 Bonus
Open a new qualifying consumer checking account. Receive a total of $1,000 or more in qualifying direct deposits to the new checking account within 90 calendar days from account opening (qualification period). Bonus will be deposited to the account within 30 days after the qualification period. This offer is for new checking account customers only.
Personal Checking Account - $3,500 Bonus
Open a new Premier Checking account or upgrade your existing checking account to a Premier Checking account. Use promo code at account opening. Offer code can be obtained by providing your email address. Deposit $500,000 or more to qualifying linked accounts within 45 days of account opening or upgrade. Maintain a balance of $500,000 or more in the qualifying linked accounts for at least 90 days after account opening or upgrade.
Personal Checking Account - $2,500 Bonus
Open a new Premier Checking account or upgrade your existing checking account to a Premier Checking account. Use promo code at account opening. Offer code can be obtained by providing your email address. Deposit $250,000 or more to qualifying linked accounts within 45 days of account opening or upgrade. Maintain a balance of $250,000 or more in the qualifying linked accounts for at least 90 days after account opening or upgrade.
Personal Checking Account - $325 Bonus
Open a new qualifying consumer checking account. Receive a total of $1,000 or more in qualifying direct deposits to the new checking account within 90 calendar days from account opening (qualification period). Bonus will be deposited to the account within 30 days after the qualification period. This offer is for new checking account customers only.
How to Choose the Best Bank in Colorado
Just like you're laying down roots in Colorado, your money also needs a financial home. Here's what to consider when choosing the right bank:
Accessibility
Convenience is key. Choose a bank with branches close to your home and work, so you have easy access to ATMs and in-person support.
Checking and savings accounts
Pick a bank with the accounts and features you need. For example, some banks' checking accounts may have overdraft assistance or free budgeting tools.
Monthly fees
Some banks (especially traditional banks) charge a monthly fee unless you maintain a certain minimum balance or meet other criteria. This doesn't have to be a dealbreaker, as long as you can easily meet the requirements.
Additional services
Looking for more than banking? Banks usually also offer credit cards, loans, investment tools, and small business products. Look into the bank's other services if you want a one-stop-shop.
Bottom Line
Regardless of your banking needs, there's a perfect fit out there for you. For Coloradans looking for a national reach, US Bank is an excellent option, while those who prefer local expertise may prefer FirstBank or the Bank of Colorado.
Those looking for the highest interest rates on their savings may prefer an online-only bank like CIT Bank.
Small business owners will get the most benefit from a partnership with Wells Fargo, which provides a range of business-oriented services. And customers looking for solid checking options will appreciate Chase's many locations across the state.
References
- ^ Federal Reserve Board. Large Commercial Banks, Retrieved 5/1/2022
- ^ "FY2021 lending volume through December 31, 2021.": SBA.gov, 2021.
Jeremy Harshman is a creative assistant at CreditDonkey, a bank comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
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