Updated October 31, 2023

Best Banks in Arizona

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Looking for a new bank in Arizona? This helpful guide to the best banks in Arizona will make choosing easy.

Choosing the right bank doesn't have to be hard. But it is a decision that you shouldn't take too lightly.

After all, your bank will be a part of your financial future as well as your everyday life. And your ideal bank will ultimately depend on your own individual needs.

In this guide, you'll find the best banks in Arizona, for checking, savings, and even budget-friendly bankers.

Best Banks in Arizona

We looked at a range of features to ensure you could identify the best bank to suit your needs. Convenience, priorities, and services are all major factors.

Now let's dive in and look at the top banks in the state.

Bank of America: Best Overall

For Arizona residents who want the option to visit a physical branch and get in-person support, consider Bank of America, one of the largest banks in the U.S. serving retail customers.

One of the biggest perks to working with a national bank is convenience. Bank of America has more than 100 branches across Arizona, which means it's easy to find an ATM when you need one.

And since they're a big bank, they offer an extensive range of financial products as well. They have a range of checking and savings options for customers of all types.

Bank of America Advantage SafeBalance Banking® is a great start for students and young adults, and the fee is waived for those under 25 years old, or if you maintain a minimum daily balance of $500 or more in your account. There are no overdraft fees either.

Bank of America Advantage Plus Banking® offers overdraft protection and will waive the $12 monthly fee for a few easy requirements.

Bank of America Advantage Relationship Banking® account will accrue interest, monthly service fee is waived when you maintain a minimum daily balance of $20,000 in your account during each statement cycle.

You can also avoid monthly maintenance fees for eligible Bank of America checking and savings accounts by being a member of the Bank of America Preferred Rewards® program.

Their savings APY won't be as high as an online bank, but they do offer a wide range of other products, including credit cards, home and auto loans, and investing through Merrill.

Wells Fargo: Best National Bank

When it comes to choosing a bank to give your business, there's a lot to consider, but one of the biggest factors is convenience. In the state of Arizona, there aren't many banks with more locations than Wells Fargo, which has at least 170 branches in the Grand Canyon State.

Wells Fargo customers get access to a wide range of useful banking services including checking and savings accounts, CDs, credit cards, home loans, and more.

And in addition to their personal banking options, they are also an excellent choice for small business owners, recognized as a top small business lender by the Small Business Administration (SBA).[1]

PNC Bank: Best for Checking and Savings

PNC Bank, which previously operated as BBVA in Arizona, has good options for both checking and savings accounts, meaning it's a versatile choice for people with a range of needs.

There is no minimum deposit to open a PNC Bank Standard Savings Account but it requires a balance of at least $1 to earn interest.[2]

However, their standard savings account interest rates are low. Their High Yield Savings account with a more competitive rate is only available to eligible markets. If you're looking for a higher interest rate, consider an online bank like Ally.

With their online checking account, the PNC Bank Virtual Wallet, it's easy to track deposits to your account as well as when you need to pay bills, and you'll even get warnings when you're at risk of overdrawing.

PNC does charge a $5 monthly service fee, but you can get it waived in several ways, like keeping a minimum of $300 in your account. The fee is also waived for customers under 18.[3]

Their customer service reportedly leaves something to be desired, as it's limited to certain hours during the workweek. For in-person support, you can also visit one of their branches.

Chase: Best for Checking

For those Arizonans who value ease and convenience, Chase offers a powerful combination of brick-and-mortar access with over 200 branches and digital tools thanks to their user-friendly mobile banking app.

Chase has one of the largest numbers of branches and ATMs in the state, as well as the rest of the US, meaning that you'll always have access to your money, both at home and on the road.

Through the mobile app, you can pay bills, send money, deposit checks on the go, and much more, all secured with facial recognition, fingerprint sign-in, and high-tech encryption.

BMO: Best Economical Checking

Looking for a low-cost checking account? Then you might consider BMO Bank.

First, their BMO Smart Advantage Checking offers unlimited transactions and no fees.

Next, the BMO Smart Money Checking is free to use if you're under 25. For everyone else, there is a modest $5 monthly maintenance fee, but no overdraft fees.

For even more perks, the BMO Relationship Checking offers free transactions even at out-of-network ATMs, Mastercard ID Theft Protection on a BMO Bank Debit Mastercard, and earns interest.

The minimum deposit with BMO is $25, and they also offer a range of other services, including savings accounts and CDs, home and auto loans, retirement accounts, credit cards, and more.

They have 50 branches in the state of Arizona and access to 40,000 fee-free ATMs through the Allpoint network nationwide.

MidFirst Bank: Best Customer Service

If customer service is your primary concern, then MidFirst Bank may be the right option for you.

MidFirst Bank ranked top in the Southwest in J.D. Power's U.S. Retail Banking Satisfaction Study, which considers factors like fee structures, product versatility, and problem-solving capability.[4]

Keep in mind, MidFirst Bank is based in Oklahoma and operates only 25 branches in Arizona, so it may be a little harder to find a branch near you compared to major banks like Bank of America or PNC.

They offer a range of services including:

  • Free online checking accounts
  • Interest-earning checking accounts
  • Money market accounts
  • Traditional savings accounts
  • Kids savings account (designed for kids 17 and under)
  • CDs
  • IRAs
  • Credit cards
  • Home, auto, and equity loans
  • Investment services

Note: The checking and savings accounts all require a $100 minimum deposit.

Wondering about setting up an account for your kid? Check out our list of the best debit cards made just for kids to help them learn the financial ropes.

Other Banks to Consider

If none of the banks above are the right fit for you, that doesn't mean that there aren't any other options, or even any good ones.

Let's take a look at some solid options for other banks you should give your consideration if you're looking for options in Arizona.

US Bank
US Bank is one of the largest banks in the United States and it has a lot to offer its customers.

While it doesn't have the largest number of branches in Arizona, it does have nearly 60 locations spread around the state.

Their savings rates are moderate, with the best offered for their longer term CDs, and customers also get access to useful services like checking and savings accounts, credit cards, investment and retirement accounts and more.

WaFD Bank
WaFD Bank is a smaller Seattle-based bank with around 30 locations in Arizona, with over 230 branches spread around 8 western states.

Despite its smaller size, there's a lot to like about WaFD Bank, including a free checking account, an interest-bearing checking account, savings accounts for kids and teens, and more.

How to Choose the Best Bank in Arizona

Just like you're laying down roots in Arizona, your money also needs a financial home. Here's what to consider when choosing the right bank:

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

It isn't hard to find a good bank in the state of Arizona if you know what you're looking for. For nationwide access and the widest range of banking options, consider a national bank like Bank of America.

If a combination of services is your desire, consider a versatile bank like PNC. If convenience is your main concern, you'll probably want to go with a big national bank like Wells Fargo, Chase, or US Bank.

For low-cost checking options, consider BMO or a smaller bank like WaFD.

If customer service and a friendly touch is what you're looking for, MidFirst Bank may be right for you, as long as they have a branch in your area.


  1. ^ U.S. Small Business Administration. 100 most active SBA 7(a) lenders, Retrieved 5/7/2022
  2. ^ PNC Bank. Consumer Schedule of Service Charges and Fees Standard Savings, Retrieved 5/7/2022
  3. ^ PNC Bank. Consumer Schedule of Service Charges and Fees, Retrieved 5/7/2022
  4. ^ "J.D. Power U.S. Retail Banking Satisfaction Study": J.D. Power, 2019.

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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