Best Banks in Michigan
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On the hunt for the ideal bank in Michigan? Check out this article to see which ones are worth considering.
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- Bank of America Advantage Banking:
Up to $500 Cash Offer - PNC Bank:
Virtual Wallet with Performance Select Checking - $400 Bonus - KeyBank:
Key Select Checking® - $500 Bonus - Citizens Bank:
Personal Checking and Savings Account - $400 Bonus - Fifth Third Bank:
Personal Checking Account - $300 Bonus - Advia Credit Union:
Personal Checking Account - $250 Bonus - Everwise Credit Union:
Personal Checking Account - $250 Bonus - Honor Credit Union:
Personal Checking Account - $250 Bonus - CIBC Bank:
Personal Checking Account - $200 Bonus - Credit Union ONE:
Personal Checking Account - $200 Bonus
Michigan has a diverse range of banks, from large national banks to small community banks. This means residents have plenty of choices. But, it can make choosing one tough.
Luckily, we've curated a list of some of the best banks you can check out in Michigan!
Bank of America Advantage Banking - Up to $500 Cash Offer
- The cash offer up to $500 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 1/31/2026.
- To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* into that new eligible account within 90 days of account opening. Your cash bonus amount will be based on the total amount of your Qualifying Direct Deposits received in the first 90 days.
Cash Bonus Total Qualifying Direct Deposits $100 $2,000 $300 $5,000 $500 $10,000+ - If all requirements are met 90 days after account opening, Bank of America will attempt to deposit your bonus into your new eligible account within 60 days.
- Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Additional terms and conditions apply. See offer page for more details.
- *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
- Bank of America, N.A. Member FDIC.
KeyBank: Key Select Checking® - $500 Bonus
- Open a Key Select Checking® account online by December 19, 2025.
- Make the minimum opening deposit of $50, plus a total of $5,000 or more in eligible direct deposits within the first 90 days of account opening.
- Your $500 cash bonus will be deposited into your account within 60 days of meeting requirements. Account must not be closed at the time of gift payment.
5 Best Banks in Michigan
With numerous banks and credit unions in Michigan, deciding where to open an account can be daunting. Here are some of the top options available in the state:
Chase Bank: Best National Bank
Chase Bank is a good option for Michigan residents who value the convenience and security of banking with a large US financial institution.
With over 190 branches and ATMs statewide, your money is always within reach when you open an account with Chase. Plus, their easy-to-use mobile app makes managing your finances a breeze. [1]
But, Chase offers more than just convenience. With a wide range of financial products and services, like Chase Total Checking and Chase Savings, you will surely find the perfect fit for your needs. [2]
Chase First Banking℠
Chase First Banking is a debit card for kids age 6-17 with $0 monthly service fee. You must be an existing Chase checking customer to open a Chase First Banking account.
The information for the Chase First Banking has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by the bank.
Chase: Referral Program - Up to $500 Bonus
Earn $50 for every referred client who successfully opens a new qualifying checking and/or savings account, and completes qualifying activities. Referred clients must be new Chase customers. Earn a maximum of $500 in referral bonus per calendar year.
The information for the Chase Refer a Friend has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by the bank.
Chase: 12-Month CD (Relationship Rate) - 2.00% APY
APY is for zip code 91101, and may vary per location. APY is for balances below $10,000. The information for the 12-Month CD (Relationship Rate) has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by the bank.
Pros + Cons
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Huntington Bank: Best Regional Bank
If you're from Michigan and you prefer wider bank branch access within the state, Huntington could be the ideal choice for you.
They have an impressive physical presence with over 400 branches across the state. Michigan residents can also access numerous ATM locations, ensuring convenient access to your funds.
Huntington offers various checking and savings accounts, but the rates might be too low on some. Instead, try their Asterisk-Free Checking account—it has no monthly fees or balance requirements.
Huntington: Relationship Money Market Account
Minimum balance to earn interest is $25,000
| APY | |
|---|---|
| Non-Relationship | 3.45% |
| With Huntington Perks Checking Account | 3.51% |
| With Huntington Platinum Perks Checking Account | 3.56% |
| With Private Client Account | 3.66% |
Rates are for Columbus, Ohio and may vary per location. Rates are for balances of up to $2,000,000.
Huntington Bank Fixed Rate CDs - Promotional Rates
| Term | APY |
|---|---|
| 5 Months | 4.08% |
| 9 Months | 3.05% |
Rates are for Columbus, Ohio, and may vary per location.
Pros + Cons
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PNC Bank: Best Online Banking Option
For Michigan residents on the go, PNC Bank is a solid pick for online banking. Plus, you can still bank in person in any of its 127 locations statewide and extensive ATM network. Accessibility won't be a big issue. [3]
PNC excels in digital banking, offering customers a user-friendly website and mobile app. You can easily manage your finances anytime, anywhere.
One of PNC's standout offerings is the Virtual Wallet. It is an all-in-one checking and savings account. It has no opening deposit, but there is a waivable $7 monthly fee.
Virtual Wallet also gives you access to digital tools like a savings tracker and Low Cash Mode.[4]
PNC Bank: Virtual Wallet with Performance Select Checking - $400 Bonus
Open a new Virtual Wallet with Performance Select checking account and make qualifying direct deposits totaling $5,000 or more within 60 days of account opening. Bonus will be awarded within 60-90 days of meeting the requirements.
PNC Bank: Virtual Wallet with Performance Spend Checking - $200 Bonus
Open a new Virtual Wallet with Performance Spend checking account and make qualifying direct deposits totaling $2,000 or more within 60 days of account opening. Bonus will be awarded within 60-90 days of meeting the requirements.
PNC Bank: Virtual Wallet Checking - $100 Bonus
Open a new Virtual Wallet checking account and make qualified direct deposits totaling $500 or more within 60 days of account opening. Bonus will be awarded within 60-90 days of meeting the requirements.
Pros + Cons
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Citizens Bank: Best for Savings Options
Despite having fewer branches compared to other mentioned banks, Citizens Bank still stands out as a strong choice due to its wide array of financial products and services.
Michigan residents seeking diverse savings options will find them particularly appealing, thanks to the available savings accounts, money market accounts, and CD offers.
Citizens Bank has 60+ branches in the state and access to 3,300+ ATMs across 14 states.
Pros + Cons
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Fifth Third Bank: Best Free Checking
Fifth Third Bank is an attractive choice for Michigan residents seeking the personalized service of a regional bank rather than a national one. They operate in 11 states and boast over 160 locations in Michigan alone.
They offer a wide range of products, including checking, savings, business bank accounts, CDs, and credit cards.
In fact, you can check out the Fifth Third Momentum Checking option if you're on the hunt for a fee-free account to use for your daily finances.
Pros + Cons
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Our Methodology
In making this list, we mainly looked at banks with branches in the state to emphasize convenience and community support. We considered factors like branch locations, online banking quality, and the range of services offered.
We collect information by researching websites and financial reports. While we try to be comprehensive, it's essential to know we rely on information available to everyone.
How to Choose the Best Bank in Michigan
Before settling on a bank, it's important to consider these factors:
Accessibility
Even with the rise of online banking, having nearby branches is still convenient, especially if it's an independent bank. They make for easier access to your money and face-to-face help when you need it.
Products and Services Offered
Your bank should offer the financial products and services you're looking for. Access to multiple savings, loan, and investment options makes banking more convenient.
Plus, as you bank more, you establish a relationship that can earn you some perks depending on the institution.
Monthly Fees
Some banks might charge you monthly fees if you don't meet conditions like maintaining a minimum balance. These fees can eat into your funds, so it's smart to search for a bank with no fees or where you can easily fulfill the requirements.
Online Banking
A user-friendly online banking system is important because it makes managing your money easy.
Lake Michigan Credit Union may be considered as one of Michigan's best in its category. It's the state's largest credit union by total assets and members, with several branches and fee-free Allpoint® ATM access. Offering full-service banking, LMCU is also notable for its free checking with interest-earning capability.
Bottom Line
Michigan has plenty of banking options, each with its benefits and drawbacks. If you value convenience and security, Chase Bank is a solid choice. For a more personal touch, check out regional banks like Huntington and Fifth Third Bank.
You can also consider online banks and credit unions if they meet your needs. Do your research and don't hesitate to reach out to banks for more information to find the best fit for you.
Bank of America® Business Advantage Banking Checking Account - $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 eligible business checking customers only.
- Offer expires 12/31/2025.
- To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
- Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or
Merrill investment accounts.
- ** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
- Bank of America, N.A. Member FDIC
KeyBank: Key Smart Checking® - $300 Bonus
- Open a Key Smart Checking® account online by December 19, 2025.
- Make the minimum opening deposit of $10, plus a total of $2,000 or more in eligible direct deposits within the first 90 days of account opening.
- Your $300 cash bonus will be deposited into your account within 60 days of meeting requirements. Account must not be closed at the time of gift payment.
PNC Bank: Business Checking Account - $1,000 Bonus
Open a new PNC Treasury Enterprise Plan or Analysis Business Checking account. Maintain an average ledger balance of $30,000 or more in your new checking account for each of the first three statement cycles.
This offer is only available to businesses with an annual revenue of less than $5 million. All existing business checking customers, including those who have closed an account in the past 90 days or has been paid a promotional premium in the past 12 months are not eligible for this offer. $1,000 bonus will be credited to your new business checking account within 90 days after all conditions have been met.
Citizens Bank: Personal Checking and Savings Account - $400 Bonus
Earn $300 when you open a new qualifying checking account and have at least one single direct deposit of $500 or more post to your new checking account within 60 days of account opening. Open a new qualifying savings account and make at least one single deposit of $100 or multiple deposits totaling $100 or more that post into the new savings account every month for 3 consecutive months. Accounts must be opened at the same time via the offer page to qualify for the bonus.
Huntington: Business Checking Account - $1,000 Bonus
Open a new Huntington Unlimited Plus Business Checking account. Make a minimum cumulative new money deposit into the new checking account of at least $20,000 within 30 days of account opening. Maintain minimum daily balance of $20,000 for 60 days after meeting deposit requirement. Account must maintain an open status for at least 90 days to be eligible.
This offer is only available to applicants residing in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, North Carolina, Ohio, Pennsylvania, South Carolina, West Virginia, or Wisconsin. This offer is only available to new business checking customers. All current Huntington business checking customers, including those with business checking accounts closed within the last six months, are not eligible. $1,000 bonus will be deposited to your new checking account within 14 days after completing requirements.
Fifth Third Bank: Personal Checking Account - $300 Bonus
Open a Fifth Third Momentum® Checking, or Preferred Checking account. Make direct deposits totaling $500 or more within 90 days of account opening to qualify for bonus. The cash bonus will be deposited into your new checking account within 10 business days of completing qualifying activity requirements.
Associated Bank: Business Checking Account - $750 Bonus
Open a Business Choice Checking account. Deposit $20,000 or more in new money within 30 days of account opening. Maintain a minimum daily balance of $20,000 between 30 to 90 days of account opening.
Independent Bank: Business Checking Account - $500 Bonus
Open a new business checking account. Deposit $3,000 or more in new money into the account within 30 days of account opening. Maintain a minimum daily balance of $3,000 for 90 calendar days. Make 20 debit card transactions within 90 calendar days of account opening.
Honor Credit Union: Personal Checking Account - $250 Bonus
Open a new checking account. Make cumulative ACH deposits of $500 or more within 60 days of account opening. Complete at least 8 debit card transactions within 60 days of account opening.
Advia Credit Union: Personal Checking Account - $250 Bonus
Open a new checking account. Use promo code NM1000 at account opening. Qualify for an Advantage Plus Rewards within 90 days of establishing membership to earn $250 bonus.
Everwise Credit Union: Personal Checking Account - $250 Bonus
Open a new Performance, Advantage, Ultimate, or World Checking account. Use promo code Get250 at account opening. Make electronic deposits of $500 or more within 60 days of account opening. Complete 10 or more debit card purchase transactions within 60 days of account opening. Enroll eStatements using mobile or online banking within 60 days of account opening.
Consumers Credit Union (Michigan): Business Checking Account - $200 Bonus
Open a qualifying business checking account. Set up and receive a monthly ACH of $1,500 or more to qualify for bonus. Account must remain open and in good standing for at least 6 months and receive eStatements.
This offer is valid only for business accounts using comparable services offered by Consumers Credit Union.
CIBC Bank: Personal Checking Account - $200 Bonus
Open a new CIBC iCan or myChoice Checking account. Deposit at least $500 at account opening. Set up and receive qualifying direct deposits or ACH transaction within 90 days of account opening. Enroll in eStatements and elect to receive eStatements through CIBC NetBanking.
Credit Union ONE: Personal Checking Account - $200 Bonus
Open a new Cash Back Checking account. Set up and receive a qualifying direct deposit within 90 days of account opening. Enroll in Digital Banking and maintain an active Mastercard Debit Card. Keep the account open and in good standing for 90 days.
Diversified Members Credit Union: Personal Checking Account - Up to $120 Bonus
Open a Give Back Credit Union Rewards Checking account. Get $10 deposited monthly to your checking account when you complete the following: have at least 15 debit card transactions every month, and be enrolled in online banking and eStatements.
References
- ^ Chase. Michigan branches and ATM locations, Retrieved 04/23/2025
- ^ Chase. Compare your options: Open a checking account online today, Retrieved 04/23/2025
- ^ PNC. Browse PNC Branches in Michigan, Retrieved 04/23/2025
- ^ PNC. Virtual Wallet, Retrieved 04/23/2025
Darlene Santos is a research analyst at CreditDonkey, a bank comparison and reviews website. Write to Darlene Santos at darlene.santos@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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