Best Banks in California
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Are you in California and searching for a new bank? Finding one is easy with this helpful guide to the best banks and credit unions in California.
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Citi Priority Account - Up to $1,500 Cash Bonus
- Earn up to $1,500 cash bonus when you open a new account with required activities
- Open a new eligible checking account in the Citi Priority Account during the offer period 1/5/22-7/17/22
- Within 20 days of opening, deposit $50,000 in New-To Citibank funds between the new checking and savings accounts
- Maintain a minimum balance of $50,000 in the checking account for an additional 60 consecutive calendar days from the 21st day
- After all required activities are met, the cash bonus will be deposited to your account within 90 calendar days
Chase Total Checking® - $200 Bonus
- New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking® account and set up direct deposit
- Access to 16,000 Chase ATMs and more than 4,700 branches
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- 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℠: $0 overdraft fee when you overdraw your account $50 or less*
*We won't charge an overdraft fee if you are overdrawn $50 or less at the end of the business day. Chase may pay, for a $34 fee, overdraft transactions at our discretion based on your account history, deposits and transaction amount. If you've enrolled in Debit Card Coverage, everyday debit card purchases like groceries, may be approved at our discretion when you don't have enough money in your account.
Easy Checking - $400 Bonus
- Enroll in online banking or the U.S. Bank Mobile App.
- Complete two or more direct deposits totaling $4,000 to earn $400
Banking in the Golden State?
You may be wondering if you're getting the best features, rates, and service that you could be. Luckily, this guide can help you find your ideal bank.
Below, review the best banks and credit unions in California for savings, checking, and more.
Best Banks in California
We looked at a variety of factors to find the best banks in California, including accounts offered, interest rates, and convenience.
Choosing the right bank is a decision that you shouldn't make lightly. Your bank is a major part of your financial future, and it will impact your everyday life. Find your ideal bank below.
Bank of America: Best National Bank
If online banking isn't your thing, you'll find a lot to like about Bank of America, one of the largest national banks in the U.S.
Convenience and access are some of the biggest perks to working with a national bank. Bank of America has nearly 450 branches across California, which means it's easy to find an ATM when you need one, and get access to in-person help.
Their savings APY won't be as high as you'll find at an online bank, but they do offer a wide range of other products, including credit cards, home and auto loans, and investing through Merrill.
As for checking, their Advantage SafeBalance Banking is great for students, with no fees up to 25 years old, sole ownership over 16 years old, and no overdraft fees.
Bank of America Advantage Plus Banking offers overdraft protection and will waive the $12 monthly fee for fulfilling a few simple requirements. The Advantage Relationship Banking will even earn interest, free as long as you enroll in their Preferred Rewards program.
Bank of America Advantage Plus Banking® - $100 Bonus Offer
Open a new Bank of America Advantage Banking account. Use offer code DNA100CIS when opening the checking account. Set up and receive $1,000 or more within 90 days of account opening. Receive the $100 bonus within 60 days after completing all requirements.
The $100 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. Additional terms and conditions apply. See offer page for more details. Member FDIC
Bank of America Advantage Relationship Banking® - $100 Bonus Offer
Open a new Bank of America Advantage Banking account. Use offer code DNA100CIS when opening the checking account. Set up and receive $1,000 or more within 90 days of account opening. Receive the $100 bonus within 60 days after completing all requirements.
The $100 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. Additional terms and conditions apply. See offer page for more details. Member FDIC
Bank of America Advantage SafeBalance Banking® - $100 Bonus Offer
Open a new Bank of America Advantage Banking account. Use offer code DNA100CIS when opening the checking account. Set up and receive $1,000 or more within 90 days of account opening. Receive the $100 bonus within 60 days after completing all requirements.
The $100 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. Additional terms and conditions apply. See offer page for more details. Member FDIC
Wells Fargo: Best for Small Business
If Bank of America isn't right for you, but you're still interested in choosing a major US bank, consider Wells Fargo, our top pick for small business owners in California. With over 1,000 branches in the Golden State, Wells Fargo offers convenient access no matter where you are.
Wells Fargo provides customers a full array of banking services, including checking and savings accounts, investing and wealth management services, credit cards, home and auto loans, and plenty more. And according to the Small Business Association (SBA), Wells Fargo is one of the nations top lenders to small businesses,[1] with transparent interest rates on their loans.
Personal Checking Account - $200 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). $200 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 - $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). $300 bonus will be deposited to the account within 30 days after the qualification period. This offer is for new checking account customers only.
Chase: Best for Checking
If convenient checking is your priority, Chase is a bank worth your consideration. Chase takes a two-pronged approach to offering their customers the most convenient access to their money.
On the one hand, Chase has nearly 900 branches in California, meaning that there's always a branch not too far away. And on the other, Chase's easy-to-use mobile banking app, which is one of the best in the industry.
The app means you can track your activity, send and receive money, pay bills, deposit checks, and more, all from the comfort of your phone. But if you ever do need to visit a branch, you're sure to find one nearby.
Chase Total Checking® - $200 Bonus
- New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking® account and set up direct deposit
- Access to 16,000 Chase ATMs and more than 4,700 branches
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- 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℠: $0 overdraft fee when you overdraw your account $50 or less*
*We won't charge an overdraft fee if you are overdrawn $50 or less at the end of the business day. Chase may pay, for a $34 fee, overdraft transactions at our discretion based on your account history, deposits and transaction amount. If you've enrolled in Debit Card Coverage, everyday debit card purchases like groceries, may be approved at our discretion when you don't have enough money in your account.
Chase Secure Banking℠ - $100 Bonus
- New Chase checking customers enjoy $100 when you open a Chase Secure Banking℠ account with qualifying activities.
- No minimum deposit to open.
- No paper checks to track and no Chase fees on money orders or cashier's checks.
- Pay bills, cash checks and send money with Zelle® all for a $4.95 monthly service fee.
- Use the Chase debit card to help you spend only the money you have available, without worrying about overdraft fees.
- Bank from virtually anywhere with access to 16,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and Chase Online℠.
- Secure Banking customers told us they save an average of $50 a month on fees after opening their account.
- No need to worry about unauthorized card transactions when reported promptly with Zero Liability Protection.
J.P. Morgan Self-Directed Investing
- Get up to $625 when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money.
- $625 when you fund with $250,000 or more
- $300 when you fund with $100,000-$249,999
- $125 when you fund with $25,000-$99,999
- Get unlimited commission-free online stock, ETF, fixed income, and options trades when you open an account.
- $0 Online Commission trades
- Choose an account that's right for you: General Investing, Traditional IRA or Roth IRA.
- Access our secure, easy-to-use trading experience online or through the Chase Mobile® app.
- Our powerful tools and resources are built to help you take control of your investments.
- Buy, trade, sell stocks online or the Chase Mobile App.
INVESTMENT AND INSURANCE PRODUCTS ARE:
Bank of the West: Best Regional Bank
For Californians looking for a big bank with a local touch, consider our pick for the best regional bank in California, Bank of the West, a subsidiary of BNP Paribas chartered in California with headquarters in San Fransisco. Bank of the West operates more than 220 branches in California, with over 600 offices spread around the western and midwestern US.
Expect all of the same quality service from Bank of the West that you would from their larger national competitors. They offer a range of checking and savings accounts, credit cards, and lending services.
And on top of all that, they have made a commitment to environmentally friendly banking practices, and have made a point not to invest in certain harmful practices.
Referral Program - Up to $1,000 Bonus
Get your unique promo code and share it with friends. Earn $25 for every client who opened an eligible personal checking account using your promo code and completed all qualifying activities. You can receive up to 40 referral bonus deposits (totaling $1,000) per calendar year.
US Bank: Best Customer Service
For those who value customer service and a quality banking experience over all else, US Bank is a strong contender. US Bank operates over 460 branches in California, meaning that while it doesn't have quite as many locations as the biggest banks it's competing with, customers around the state shouldn't have too much trouble finding a branch if they need one.
A dedication to customer service means that US Bank representatives are available at all hours, day or night, every day of the week, either by phone, or via social media.
Plenty of other banks still want their customers to abide by banking hours, but as many of us know, problems don't always occur conveniently between 9am and 5pm. US Bank makes sure that you're taken care of no matter what time it is.
Easy Checking - $400 Bonus
- Enroll in online banking or the U.S. Bank Mobile App.
- Complete two or more direct deposits totaling $4,000 to earn $400
Gold Checking - $400 Bonus
- Enroll in online banking or the U.S. Bank Mobile App.
- Complete two or more direct deposits totaling $4,000 to earn $400
Platinum Checking - $400 Bonus
- Enroll in online banking or the U.S. Bank Mobile App.
- Complete two or more direct deposits totaling $4,000 to earn $400
Golden 1 Credit Union: Best Credit Union
Typically credit unions offer a smaller range of services than banks, but they make up for it in lower costs. Our pick for the best credit union in California is Golden 1 Credit Union.
While many credit unions have stringent location or background requirements for joining, Golden 1 Credit Union is open to join for all California residents and employees, and the minimum deposit is just $1.00.
There's no monthly service fee with Golden 1, and in terms of convenience it ranks highly compared to others, with more locations around the state than many of its popular competitors (over 70 branches at time of writing).
While there are only 240 Golden 1 Credit Union ATMs in California, members also have access to 30,000 CO-OP ATMs nationwide, meaning it shouldn't be too hard to find a place to withdraw or deposit cash.
The APY on their savings account won't compete with online banks like Ally, and interest compounds monthly instead of daily. However, if you maintain a balance of $10,000 or more, you can earn a higher APY with Golden 1.
Citibank: Best for Savings and Checking
While Citibank, a CreditDonkey partner, doesn't have the most branches in the state, they do have nearly 300, meaning you shouldn't struggle to find a branch near you. And as a new Citibank customer, you can easily find bonuses and promotions when you sign up for an account.
Citibank has a wide range of options, offered as banking packages, each with its own perks, rewards, and fees.
Citi Priority Account - Up to $1,500 Cash Bonus
- Earn up to $1,500 cash bonus when you open a new account with required activities
- Open a new eligible checking account in the Citi Priority Account during the offer period 1/5/22-7/17/22
- Within 20 days of opening, deposit $50,000 in New-To Citibank funds between the new checking and savings accounts
- Maintain a minimum balance of $50,000 in the checking account for an additional 60 consecutive calendar days from the 21st day
- After all required activities are met, the cash bonus will be deposited to your account within 90 calendar days
Bottom Line
Residents of California have plenty of excellent options when it comes to choosing a new bank or credit union.
For those looking for the widest access and national coverage, Bank of America, Chase, or Wells Fargo deliver well. If the environment is your main priority, consider eco-friendly Bank of the West.
Citibank has excellent options for those looking for a diverse array of banking services, and if you prefer a credit union over a bank, Golden 1 Credit Union offers relatively easy access and low rates compared to banks.
References
- ^ U.S. Small Business Administration. 100 most active SBA 7(a) lenders, Retrieved 5/1/2022
Jeremy Harshman is a protector of art and writing 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.
This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.
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