Best Banks in Minnesota

From community credit unions to national powerhouses, which banks in Minnesota truly rise above the rest? Find out here.

Beyond its stunning lakes, Minnesota is also home to numerous banks and credit unions, both large and small. But, with so many great options, choosing the right one can feel overwhelming.

To discover your ideal banking partner, check out this curated list of the top banks in Minnesota. Only the best deserves your attention!

Member FDIC

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.

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Expires 1/31/2026

Member FDIC

U.S. Bank Business Essentials - $400 Bonus

Promo code Q3AFL25 MUST be used when opening a U.S. Bank Business Essentials or Platinum Business Checking account. Limit of one bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.

Earn your $400 Business Checking bonus by opening a new U.S. Bank Business Essentials account between 7/1/2025 and 9/30/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening. You must also complete 5 qualifying transactions within 60 days of account opening.

Qualifying transactions include debit card purchases, ACH credits, Wire Transfer credits and debits, Zelle credits and debits, U.S. Bank Mobile Check Deposit or Bill Pay. Other transactions such as (but not limited to) other Person to Person payments, transfers to credit card or transfers between U.S. Bank accounts are not eligible.

New money is considered money that is new to U.S. Bank. Funds must come from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus. Refer to the Business Pricing Information or Business Essentials® Pricing Information Document for a list of fees.

Bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.

Offer may not be combined with any other business checking account bonus offers. Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.

All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms and policies, reference your Business Pricing Information or Business Essentials® Pricing Information and YDAA disclosure. These documents can be obtained by contacting a U.S. Bank branch or calling 800.872.2657.

Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice. Member FDIC

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Expires 9/30/2025

Wells Fargo Everyday Checking Account - $325 Bonus

• Get a $325 new checking customer bonus when you open an Everyday Checking account and receive $1,000 or more in qualifying direct deposits.
• Wells Fargo Bank, N.A. Member FDIC

Learn More

Expires 10/15/2025

Member FDIC

BMO Smart Advantage Checking account - Earn $400 Cash Bonus*

$400 cash bonus* when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening between 9/9/25 - 1/28/26. *Conditions apply. Accounts are subject to approval and provided in the U.S. by BMO Bank N.A. Member FDIC

Get Deal

Expires 1/28/2026

7 Best Banks in Minnesota

To find the best banks in Minnesota, we looked at factors like account options, interest rates, and branch accessibility.

Your bank significantly impacts your daily life, particularly in terms of convenience and service. But choosing one doesn't have to be hard—discover your ideal bank below.

U.S. Bank: Best National Bank

U.S. Bank is a national bank with a strong local presence in Minnesota, boasting over 100 locations statewide.

It's ideal for everyday banking, especially with the U.S. Bank Smartly Checking account. You can enjoy a Visa debit card and access to over 40,000 MoneyPass ATMs nationwide.

Their highly-rated mobile app helps keep you in control of your money. Get tools to track spending, set budgets, plan for goals, and monitor your credit. You can even link accounts from other banks to see a clear view of your finances.

While there’s no minimum balance required to maintain the account, maintaining a higher balance is one way to waive the monthly fee. The fee is also automatically waived for youth ages 13–17, young adults ages 18–24, seniors aged 65 and older, and military personnel.

Alternatively, the U.S. Bank Safe Debit Account is a simpler option than traditional checking. It’s a checkless checking account and has no overdraft fees—perfect for those who prefer to manage spending with more control.

Pros:

• Extensive ATM network
  
• 24/7 customer support
  
• Free student checking account
  
• Various savings accounts, CDs, and MMAs available

Cons:

• Higher minimum balance to waive monthly fee
  
• High balance requirement to earn good savings APY

Old National Bank: For Interest-Earning Checking

Old National Bank is one of the largest regional banks in the Midwest, boasting over 80 locations in Minnesota alone. It offers a wide range of services for different needs and lifestyles, from checking accounts to private banking services. This makes it a solid choice if you want to do all your banking under one roof.

For everyday banking, consider ONB Everyday Checking. While it has a $6.95 monthly fee, you can waive this through multiple ways, like making at least 15 qualifying debit card transactions or $500 in total direct deposits each month.^[1]

Looking to earn interest? ONB Preferred Checking is the way to go. You can manage your money more efficiently while also earning tiered interest on your balance. It has a $15 monthly fee, but the bank gives you multiple ways to waive it.^[2]

Whichever checking account you choose, you'll get a free Mastercard® debit card that you can use at any Old National ATM and 55,000+ surcharge-free Allpoint ATMs worldwide. Plus, with access to free online and mobile banking, your money is within reach both physically and virtually.

Pros:

• 80+ branches in MN
  
• Extensive ATM network
  
• Interest-earning checking accounts

Cons:

• Low APYs for checking & savings
  
• High waiver requirements for ONB Preferred Checking

Associated Bank: For Multiple Checking Options

Associated Bank is a regional bank with a solid footprint in the Midwest, boasting nearly 200 locations across several states. While it only has 18 branches in Minnesota, you can still easily access your money through its more than 30,000 fee-free ATMs.

It stands out thanks to its wide range of checking accounts. With about eight options to choose from, you're more likely to find a checking account that fits your unique needs and lifestyle.^[4]

For example, you can opt for the Associated Access Checking if you want easy and hassle-free banking. It has no monthly fees or minimum balance requirements, so you get to keep more of your money in your account.

Alternatively, if you want more features, the Balanced Checking account is a great upgrade, offering additional perks like free credit monitoring. Just remember, it has a $9 monthly fee, but it can be waived through multiple ways.

No matter which account you choose, you can use the Associated Bank Digital app to manage your finances anytime and anywhere. With just a few taps, you can send and receive money, pay bills, track your spending, set budgets, deposit checks, and more.

Pros:

• Extensive ATM network
  
• Various checking options available
  
• Handy financial management tools

Cons:

• Only 18 branches in MN
  
• Must manually opt out of paper statements

Affinity Plus Credit Union: Best Credit Union

If you're looking for an alternative to traditional banks, Affinity Plus Credit Union is an excellent choice. With 32 locations across Minnesota and 60,000+ in-network ATMs throughout the country, accessing your money is a breeze.^[5]

Affinity Plus Credit Union offers great checking options for those looking to manage their funds. With the Better Than Free Checking account, you can enjoy no minimum balance, no monthly fees, and no ATM fees at partner ATMs—ensuring an affordable and hassle-free banking experience.

Plus, you can easily manage your account through their mobile app, which lets you deposit checks, make automatic bill payments, and set up direct deposits. Qualified members can also enjoy overdraft protection for checks and ACH transfers.

At Affinity Plus, you get all the perks of a traditional bank, plus personalized service rooted in their member-focused approach.

Pros:

• 32 branches in MN
  
• Large ATM network
  
• User-friendly mobile app

Cons:

• Must be a member to open an account

Quontic: Best Online Bank

If traditional banking isn't for you, consider online banks like Quontic Bank. While it doesn't have physical branches, you can still easily access your funds almost anywhere, thanks to its over 90,000 fee-free ATMs.

Much like brick-and-mortar banks, it offers a full range of services for different lifestyles and goals, including checking and savings accounts, CDs, and loans.

If you're looking to earn interest on your everyday account, check out the High Interest Checking account. You can get a minimal APY by making at least 10 qualifying debit card purchases worth $10 or more each month.

Want to earn cash back instead? Consider the Cash Rewards Checking account. You can earn as much as 1.00% cash back on qualified Quontic debit card purchases every month.^[6]

Whichever account you choose, you don't have to worry about monthly fees or minimum balance requirements. Plus, you can manage everything through the user-friendly mobile app. Keep track of your funds, make crucial transactions, and even monitor non-Quontic bank accounts in one convenient app.

Member FDIC

Quontic: High Interest Checking - Up to 1.10% APY

• Earn up to 1.10% APY
• $100 minimum opening deposit
• APY is based on the account balance and making at least 10 qualifying debit card point-of-sale transactions of $10.00 or more per statement cycle.

Learn More

Pros:

• Extensive ATM network
  
• Easy-to-use mobile app
  
• No monthly fees

Cons:

• No business accounts
  
• Must meet requirements to earn APY on checking

Huntington Bank: Best Regional Bank

Huntington Bank is a regional bank focused on the Midwest, boasting over 80 branches in Minnesota and over 1,600 ATMs throughout the region. If you want a local banking experience with decent rates and low fees, this can be your best bet.

Huntington Bank is a solid choice if you're looking for a free checking account, thanks to its Asterisk-Free Checking. Apart from being a free account, it comes with other perks like $50 overdraft forgiveness and early direct deposit up to two days in advance.

You can also get access to Standby Cash, a line of credit from $100 to $750 for eligible checking customers. You can use the full amount for a small fee and have three months to pay it back. It’s also interest-free if you set up automatic payments.

Pros:

• Free checking option
  
• Interest checking options available
  
• Perks like Standby Cash and 24-Hour Grace

Cons:

• Low interest rates on savings accounts

Ally Bank: Best Online Savings Account

Ally Bank is another digital bank worth considering, especially for tech-savvy individuals who are looking to grow their savings.

Ally Bank is a solid pick if you want strong interest rates and don't mind only banking online. It charges no monthly fees and offers competitive returns on savings.

The Ally Savings Account offers a solid 3.50% APY with no minimum balance. One standout feature is the "buckets" tool, which lets you divide your savings into different goals (like for emergencies or a new car). This helps you track your progress and stay organized.

If you need a checking account, the Ally Bank Spending Account got you covered. It has no monthly fees, no overdraft charges, and access to early direct deposit to keep your cash flow running smoothly.

Pros:

• 75,000+ no-fee Allpoint and MoneyPass ATMs
  
• Interest-earning checking account
  
• Competitive APYs compared to traditional banks
  
• Handy digital banking tools

Cons:

• No physical branches
  
• No cash deposit

Our Methodology

In creating this list, we focused on FDIC-insured banks with branches in the state to emphasize convenience and community support. We also considered factors like locations, online banking, and service range.

However, we also included reputable online-only banks, which are gaining popularity for offering higher APYs. Our data came from publicly available websites and financial reports.

Types of Banks in Minnesota

Below are the different types of banks you'll find in Minnesota:

National banks
National banks, chartered and supervised by the U.S. Treasury, offer a wide range of financial products like banking, credit cards, loans, and investments. These banks typically provide convenient access to services with branches and ATMs across multiple states.

Regional banks
Regional banks, on the other hand, serve specific geographic areas such as a state or region. They have fewer branches than national banks but offer more personalized services.

Online banks
Online banks offer financial services without physical locations. Everything is handled through their website or mobile app, and you can usually withdraw cash at ATMs.

Without the cost of maintaining branches, online banks often provide higher interest rates, no service fees, and lower balance requirements.

Credit unions
Credit unions offer checking and savings accounts, prioritizing member service over profit. As member-owned institutions, they often provide better savings and loan rates.

However, they have membership requirements and may offer fewer services than traditional banks.

How to Choose the Best Bank in Minnesota

Just like you're laying down roots in Minnesota, 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.

How to Open a Bank Account in Minnesota

Opening an account at a bank or credit union is simpler than you think, and the process is almost the same everywhere.

Here's how it typically works:

1. Go to the website or visit a physical branch of your chosen bank.
   
2. Complete the application form and provide your basic information, such as name, address, SSN, valid ID, etc.
   
3. Submit your application and fund your account.

Remember, when opening an account with a credit union, you'll need to meet their membership requirements first.

Bottom Line

Minnesota boasts a wide range of banks and credit unions, giving you plenty of options to find the perfect fit for your financial needs.

If you're into traditional banking, consider major players like U.S. Bank or Huntington Bank. For a more personal touch or better rates, check out Affinity Plus Credit Union or Quontic.

At the end of the day, it all boils down to your personal preferences and priorities. The choice is yours!

References