Best Banks in California
Ad Disclosure: This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. You help support CreditDonkey by using our links.
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.
 |
Citi Priority Account - Earn up to $2,000 Cash Bonus
- Earn up to $2,000 cash bonus when you open a new eligible Citi Priority Checking Account with required activities
- Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds.
- Maintain a minimum balance for 60 consecutive calendar days from the 21st day.
- If your balance falls to a lower tier at any point during the maintenance period, the bonus changes.
- Bonus will be paid within 30 days after you successfully complete all required activities.
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 more than 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℠ - 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*
*With Chase Overdraft Assist℠, we won't charge an Insufficient Funds 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 you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.
HSBC Premier Checking - $500 Welcome Deposit
- Receive a $500 Welcome Deposit for eligible new customers who open a new HSBC Premier checking account and complete the following qualifying activities.
- Open your new HSBC Premier checking account online, using this offer page, by February 15, 2023.
- Make recurring Qualifying Direct Deposits totaling at least $10,000 per month from a third party to your HSBC Premier checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening.
- You will automatically receive the $500 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities. It's that simple.
- Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
U.S. Bank Smartly™ Checking - $300 Bonus
- Enroll in online banking or the U.S. Bank Mobile App
- Complete two or more direct deposits of $5,000 or more to earn $300
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.
CIT Bank Savings Connect - 3.60% APY
- Earn 15x the national average
- $100 minimum opening deposit
- No monthly maintenance fee
Discover Online Savings - $200 Cash Bonus
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code CY922 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
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.
Citi Priority Account - Earn up to $2,000 Cash Bonus
Earn up to $2,000 cash bonus when you open a new eligible Citi Priority Checking Account with required activities. Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds. Maintain a minimum balance for 60 consecutive calendar days from the 21st day. If your balance falls to a lower tier at any point during the maintenance period, the bonus changes. Bonus will be paid within 30 days after you successfully complete all required activities.
| Balance Levels | Maximum Bonus |
|---|---|
| $10,000 - $29,999 | $200 |
| $30,000 - $74,999 | $500 |
| $75,000 - $199,999 | $1,000 |
| $200,000 - $299,999 | $1,500 |
| $300,000 and above | $2,000 |
Chase Secure Banking℠ - $100 Bonus
- New Chase checking customers enjoy $100 when you open a Chase Secure Banking℠ account with qualifying transactions.
- No minimum deposit to open an account and get started.
- 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.
- No overdraft fees with a Chase debit card that helps you stay within your balance.
- Bank from anywhere with access to more than 16,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and Chase Online℠.
- Get more for your money. Chase Secure Banking℠ customers told us they save an average of $50 a month on fees after opening their account.
- Open an account online or in person at any Chase branch.
Free Checking
- $0 monthly fee when you enroll in paperless statements
- $50 minimum opening deposit
- No minimum balance
Silver Business Checking Package - $400 Bonus
- Enroll in online banking or U.S. Bank Mobile App within 60 days of account opening.
- Complete $3,000 in new money deposits within 30 days of account opening and maintain for 60 days.
- Make five qualifying transactions into your new business checking account. Qualifying transactions include: Debit card purchases, Merchant deposits, ACH credits, Wires credits/debits, Mobile Check Deposit or Bill Pay.
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 DNE100CIS 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 DNE100CIS 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 DNE100CIS 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 - $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.
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.
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 more than 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℠ - 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*
*With Chase Overdraft Assist℠, we won't charge an Insufficient Funds 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 you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.
Chase Secure Banking℠ - $100 Bonus
- New Chase checking customers enjoy $100 when you open a Chase Secure Banking℠ account with qualifying transactions.
- No minimum deposit to open an account and get started.
- 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.
- No overdraft fees with a Chase debit card that helps you stay within your balance.
- Bank from anywhere with access to more than 16,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and Chase Online℠.
- Get more for your money. Chase Secure Banking℠ customers told us they save an average of $50 a month on fees after opening their account.
- Open an account online or in person at any Chase branch.
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.
- Access to more than 16,000 Chase ATMs and more than 4,700 branches
- No Monthly Service Fee for up to 5 years if you're a student between the ages of 17-24 at account opening with proof of student status.
- Manage your money, see your accounts, and pay your bills using the Chase Mobile® app
- Send and receive money in moments using Zelle®
- Students ages 18-24 can open an account online or at a Chase branch. 17-year-olds must open at a Chase branch.
- Start planning for your future by using the budget tool in the Chase Mobile® app to set, track, and adjust your spending to help you save more.
- 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*
*With Chase Overdraft Assist℠, we won't charge an Insufficient Funds 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 you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.
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.
U.S. Bank Smartly™ Checking - $300 Bonus
- Enroll in online banking or the U.S. Bank Mobile App
- Complete two or more direct deposits of $5,000 or more to earn $300
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 - Earn up to $2,000 Cash Bonus
- Earn up to $2,000 cash bonus when you open a new eligible Citi Priority Checking Account with required activities
- Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds.
- Maintain a minimum balance for 60 consecutive calendar days from the 21st day.
- If your balance falls to a lower tier at any point during the maintenance period, the bonus changes.
- Bonus will be paid within 30 days after you successfully complete all required activities.
Citi Priority Account - Earn up to $2,000 Cash Bonus
Earn up to $2,000 cash bonus when you open a new eligible Citi Priority Checking Account with required activities. Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds. Maintain a minimum balance for 60 consecutive calendar days from the 21st day. If your balance falls to a lower tier at any point during the maintenance period, the bonus changes. Bonus will be paid within 30 days after you successfully complete all required activities.
| Balance Levels | Maximum Bonus |
|---|---|
| $10,000 - $29,999 | $200 |
| $30,000 - $74,999 | $500 |
| $75,000 - $199,999 | $1,000 |
| $200,000 - $299,999 | $1,500 |
| $300,000 and above | $2,000 |
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 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.
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.
Read Next:
|
|
| ||||||
|
|
|
