Updated April 19, 2023

Best Banks in NYC

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Looking for the right bank in New York City? Check out this helpful guide to the best banks in NYC to see which is right for you.

As a New Yorker, you want a bank that's convenient to use. One that doesn't add stress to your already busy life.

So which NYC banks are worth your time?

Whether you're new to the city or just looking for a change, this guide will help you identify the top banks that New Yorkers trust. Keep reading to see which one suits you best.

The Best Banks in New York City

There are several important factors in order to identify the best banks in New York City. This includes reputation, the services they offer, their size, and the number of branches they have.

Not every bank is right for everyone, so make sure to check out the whole list so that you don't miss out on the best fit for you.

Chase Bank: Best Branch Access

If you're a New Yorker who needs regular, reliable access to bank tellers and ATMs, then Chase Bank is worth your consideration.

With nearly 500 physical branches in the city, Chase operates over double the number of locations than any other retail banks do. That means that with a Chase Total Checking Account, you'll have ready access to your money just about wherever you are in New York.

Plus, you can find Chase banks with 24/7 ATMs every several blocks in many neighborhoods of the city, meaning you can withdraw cash for free.

Chase offers a variety of useful features including personal checking and savings accounts, credit cards, home and auto loans, and investing services through Investing by JPMorgan.

Like many banks, Chase offers an easy-to-use mobile app for those who prefer online banking. See what you can do with the Chase app in our guide.

Apple Bank for Savings: Best Free Checking

Apple Bank, a New York exclusive, provides customers with access to free checking accounts, which none of the other banks on this list can claim.

Apple Bank's ExtraValue Checking Account is entirely free, without restrictive conditions like activity requirements or minimum balances.

They also offer a range of personal banking services including checking and savings accounts, Youth Savings accounts, CDs, loans, and more.

New customers at Apple Bank may even be able to receive a $100 bonus when they set up recurring direct deposits, like those from an employer or benefit program. While other banks may have flashier bonuses, few will offer accounts with as few requirements as Apple Bank.

Keep in mind, Apple Bank is smaller than the other banks on this list, with only about 80 branches in total. That means you'll have less accessibility outside of New York, and it also means that their mobile and online banking systems are not as robust as some of their competitors.

If you prefer online banking, you may be better off choosing a different bank.

Capital One: Best for Small Businesses and Online Savings

Most readers will probably already be familiar with Capital One. If you're a small business owner looking to open a checking account, or an everyday New Yorker interested in an online savings account, Capital One may be the best option for you.

Both of Capital One's business checking accounts, the Capital One Business Basic Checking and Capital One Business Enhanced Checking, offer easy ways to waive their monthly fee.

Both small business owners and regular customers will have access to branches and Capital One Cafés, which provide ATM access around the city in addition to those found at certain Target stores.

You don't have to be a Capital One member to take advantage of their money-saving online shopping browser. Read more in our review of Capital One Shopping.

Citizens: Best for Customer Service

If you're looking for a personal touch when it comes to your banking, you might consider Citizens Bank (formerly HSBC, until they began transitioning out of the U.S. retail banking market in 2021).

The bank is regarded as one of the best in New York. According to a Pew study conducted in 2015, the bank ranked best in fairness, transparency, dispute resolution, and in their policy toward overdrafts.[1]

While many banks use questionable practices to increase the chances of their customers having an overdraft, Citizens processes daily transactions in order from low-to-high to decrease potential fees. They also don't charge fees on overdrafts of $10 or less.

Citizens offers customers a range of products and services including personal checking and savings, Premier Relationship Savings accounts, credit and debit cards, home loans, and more.

Note: HSBC will retain a reduced number of U.S. locations, converting them into HSBC Bank Wealth Centers instead of regular branches.

Santander Bank: Best for Students

For students aged between 16 and 25 years old, Santander Bank offers a free checking account and fee-free incoming wire transfers.

Whether you're from New York originally, or have just come there for school, this can be a valuable asset for receiving money from parents and other family members.

Electronic bank statements are free at Santander Bank, but paper ones cost $3, so it's best to take the environmentally friendly option. The bank has 108 branches in most parts of the city, save for Harlem and Brooklyn, where students may have more trouble finding access.

There are, however, a large number of locations near the NYU and Columbia campuses.

Santander Bank offers online and mobile banking. Their services include personal checking and savings accounts, Student Value Checking, Santander Youth Savings accounts, credit cards, personal loans, and more.

How to Choose the Right Bank for You

There's a lot to consider when you're choosing a new bank. Your top five factors will include:

  • High-quality banking products
  • Convenience
  • Accessibility
  • Good customer service
  • Features that suit your lifestyle

At the end of the day, you want a bank that makes it easy to manage your finances, whether that's withdrawing cash, depositing paychecks, applying for loans, or simply keeping your savings safe.

Finding the right bank doesn't have to be difficult, but isn't a decision you should make lightly either. Think of banking like a long-term relationship. Choosing the right one can have a big impact on your life and finances.

Bottom Line

There are plenty of excellent banking options for residents of New York. If you're a small business owner, you can get a lot out of an account with Capital One.

If you're a student, Santander bank will offer free checking, which can provide valuable savings when money is tight.

For the best access, choose Chase, which has over 500 branches in NYC alone, and many more around the country. And if customer service is your primary concern, then Citizens is likely your best choice.


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.

Capital One Shopping compensates us when you get the Capital One Shopping extension using the links provided.

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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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