Largest Banks in the US
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A list of the largest banks in the US was released. Which banks came out on top? Read on to find out, plus the benefits of working with a big bank.
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Here's a list of the 20 largest banks in the US by assets:
The Federal Reserve provides a list of the largest banks in the U.S. But this list can easily move around. Sometimes all it takes is one merger or one wrong investment.
Let's check out the banks at the forefront of the industry. Here are the largest banks in the U.S., their assets, and what it took for them to get here.
Since larger banks have more customers, they're much more convenient when you want to access your money. They have more physical ATMs and bank branches compared to smaller banks. They can also have a wider variety of services because they cater to a wider variety of people.
JPMorgan Chase
Chase Bank (the banking branch of JPMorgan) is the largest bank in the US, with over $3.20 trillion in assets.
It's the only bank to have a physical presence in all 48 contiguous states. It has over 4,700 branches and 15,000 ATMs - more than any other bank in the nation.
JP Morgan is also a major provider of investment banking services. They actually operate the largest investment bank in the world by revenue.
Recently, JP Morgan has been looking more into AI research to see how it can help predict unseen situations and make banking safer. They also prioritize understanding customer needs in order to improve their services.
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 15,000 Chase ATMs and more than 4,700 branches
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- JPMorgan Chase Bank, N.A. Member FDIC
- 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 fees 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*
Chase Secure Banking℠ - $100 Bonus
- New Chase checking customers enjoy a $100 checking account bonus when you open a Chase Secure Banking℠ account with qualifying transactions. Open online or at any Chase branch.
- Set up direct deposit and you may get your money up to two business days early-exclusively for Chase Secure Banking℠ customers.
- No minimum deposit to open an account and get started.
- No overdraft fees with a Chase debit card that helps you stay within your balance.
- Chase Secure Banking℠ customers told us they save an average of $50 a month on fees after opening their account.
- JPMorgan Chase Bank, N.A. Member FDIC.
- Pay bills, cash checks and send money with Zelle® all for a $4.95 monthly service fee.
- Bank from anywhere with access to more than 15,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and Chase Online℠.
Chase Business Complete Banking® - $300 Bonus
- Earn $300 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.
- Multiple ways to waive the Monthly Service Fee, including maintaining a minimum daily balance or purchases on your Chase Ink® Business credit card.
- Full-service business banking. Convenient access to all your business banking services in one place -- lending, checking, credit card and payment solutions.
- Your choice of payment types. Choose from a full range of options for accepting payments and making deposits that include Zelle®, Online Bill Pay, wire transfers and ACH payments.
- Convenient access to payment processing. Process all major debit and credit cards with QuickAccept®. It's a built-in feature with your Business Complete Checking account.
- Helping you save money. Multiple ways to waive service fees and unlimited digital transactions helps you keep more of your money.
- Full-featured banking online and on-the-go. Manage your business' finances on your terms with the latest online and mobile banking technology.
- Trusted and secure financial partner. We're committed to helping you grow and protect your business.
The number 1 bank in the world is Industrial & Commercial Bank of China Limited. They currently have assets totaling $5.7 trillion.
Bank of America
Bank of America has over 68 million customers and over $2.51 trillion in assets. They currently serve around 10.73% of all American bank deposits. They make banking convenient with over 3,900 branches and 16,000 ATMs.
Its primary financial services revolve around commercial banking, wealth management, and investment banking.
In 2022, Bank of America was even named World's Best Bank by Euromoney.[1]
After surviving the 2008 global financial crisis, Bank of America shifted to focus on sustainable growth. They do this by: maintaining operational excellence, supporting employee well-being, and sharing success with their communities.
Bank of America Business Advantage Checking Account - $200 Bonus Offer
- Open a new eligible business checking account by December 31, 2023
- Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
- Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC
Bank of America Advantage Banking - $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 checking customers only.
- Offer expires 1/31/2024
- To qualify, open a Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2000 or more into that new account within 90 days of opening.
- Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- Member FDIC
Bank of America Advantage SafeBalance Banking®
- No overdraft fees
- No monthly maintenance fee for Students under 25
- Member FDIC
Citibank
Citibank, a CreditDonkey partner, is the primary U.S. banking subsidiary of Citigroup. They are worth over $1.77 trillion in assets.
They have over 670 locations in the US and more than 1,800 branches outside of the country. Plus, there are over 65,000 fee-free ATMs nationwide.
In 2022, Citi started investing more in digitalization as a long-term goal to provide a better platform for their customers. They're also looking into investing in robotics and automated processes.
They offer the same services that other traditional banks offer, like personal banking and loans.
Citi Priority - Earn up to $2,000 Cash Bonus
- Earn up to $2,000 when you open a new eligible Citi checking account and enroll in the offer the same day
- New to Relationship customers can choose their Relationship Tier.
- 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 Balance Level at any point during the maintenance period, the bonus changes.
- Bonus will be paid within 30 days after you successfully complete all required activities.
- Restrictions apply.
Citigold® - Earn up to $2,000 Bonus
- Earn up to $2,000 when you open a new eligible Citi checking account and enroll in the offer the same day.
- New to Relationship customers can choose their Relationship Tier.
- 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 Balance Level at any point during the maintenance period, the bonus changes.
- Bonus will be paid within 30 days after you successfully complete all required activities.
- Restrictions apply
Citibank Business Checking - Up to $2,000 Bonus
Earn up to $2,000 cash bonus with required activities. Open a new CitiBusiness (Analyzed), Streamlined, or Flexible Checking account. Mention this offer to a Citibank Business Specialist. Within 30 calendar days following account opening, make one or more deposits in new-to-Citibank funds to meet the Qualifying Balance. Maintain the required Qualifying Balance for 60 consecutive calendar days after the Qualifying Balance level is met during the initial 30 calendar day funding period.
| Qualifying Balance | Bonus |
|---|---|
| $5,000 - $19,999 | $300 |
| $25,000 - $99,999 | $750 |
| $100,000 - $199,999 | $1,500 |
| $200,000 or more | $2,000 |
Wells Fargo
Wells Fargo is the result of a merger between the original Wells Fargo & Company and Norwest Corporation in 1998. It is the fourth-largest bank in the United States by total assets.
Currently, Wells Fargo has over $1.72 trillion in assets. With over 12,000 ATMs and 4,900 retail banking branches, they are able to effectively cater to their 70 million customers.
It's also one of the largest SBA lenders in the country, so it's a great option for small business owners.
Clear Access Banking
- $5/month fee (can be waived)
- No minimum daily balance required
- Only $25 to open
- No overdraft fees and optional overdraft services available
- 12,000+ fee-free ATMs available nationwide
U.S. Bancorp
U.S. Bancorp is the parent company of U.S. Bank. They have over $675 billion in assets.
With over 4,200 ATMs and 2,200 branches, it's no wonder they made it to this list.
They offer banking, investment, mortgage, trust, and payment services products.
Inspired mainly by the other tech giants currently emerging, U.S Bancorp has plans to partner with other fintech to improve their systems and remain competitive for their banking services.
U.S. Bank Smartly® Checking and Standard Savings - Up to $1,000 Bonus
Earn up to $500 with a new Bank Smartly Checking account. Complete the following within 90 days of account opening:
- Enroll in online banking or the U.S. Bank Mobile App
- Make two or more direct deposit(s)* totaling $5,000 to $9,999.99 to earn $300 or $10,000 or more to earn $500
Earn up to $400 with a new Standard Savings account.
- Make new money deposit(s) totaling $25,000 to $49,999.99 to earn $200 or $50,000 or more to earn $400 by November 30, 2023
- Maintain that balance until May 31, 2024
Earn an additional $100 for opening both!
Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible for Checking account
Truist Financial Corporation
In 2019, a merger between BB&T and SunTrust formed Truist Financial Corporation. Now, they have over $574 billion in assets. And they span 17 states and Washington, D.C., with more than 2,700 branches and 3,000 ATMs.
Their services include consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.
And just last year, they launched their robo-investing services - Truist Invest and Truist Invest Pro. These help clients create a personalized portfolio and essentially manage it for them.
Truist Bank: Simple Business Checking
- $0 monthly fee
- No charge for the first 50 total combined transactions per monthly statement cycle
- No charge for the first $2,000 of cash deposits per monthly statement cycle
PNC Financial Services
PNC Financial Services, a subsidiary of PNC Bank, has $552 billion in assets. Originally an East Coast regional bank, it extended its footprint after acquiring BBVA in 2021.
Now they have over 2,600 locations in 28 states and over 60,000 PNC and PNC partner ATMs from coast to coast.
Other than traditional banking services, PNC also provides asset management, wealth management, estate planning, loan servicing, and information processing.
PNC invests billions annually in product and technology development enterprise-wide. It even opened iLab in 2015, where they develop new technology, space design, and other processes and operations.
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.
Goldman Sachs
Goldman Sachs has over $490 billion in assets. It's an investment banking, management, and securities firm. They also invest in and arrange financing for startups.
They have several headquarters in Manhattan, London, Warsaw, Bangalore, Tokyo, Hong Kong, Salt Lake City, and Dallas.
In 2016, they launched an online bank called Marcus by Goldman Sachs, offering savings accounts with high APYs for individuals. They also have a robo-advisor service called Marcus Invest.
The online bank has no physical branches or ATMs.
Capital One
Capital One has $469 billion in assets. They offer around 1880 ATMs, over 290 branches, and 50 cafe locations.
Yeah, you read that right! They have cafe locations. But what are those?
It is a community space where you can grab some food/coffee, do your banking, open new accounts, and even get 1-on-1 financial advice for free.
They also have Capital One The Lab. This is where they explore technology to create innovative products, improve consumer experiences, and engineer solutions.
Capital One: Personal Checking Account - $350 Bonus
Open a new 360 Checking account. Use promo code BONUS350 at account opening. Set up and receive 2 or more qualifying direct deposits of at least $250 each within 75 days of account opening.
TD Bank
TD Bank is the U.S. commercial banking operation of Canada's TD Bank Group. They have over $401 billion in assets. They offer banking services from personal banking to a variety of loans.
They have over 1,100 branches and more than 2,600 ATMs up and down the East Coast.
TD Bank won the 2022 BIG Innovation Awards for their TD Global Transfer (which lets customers send money to over 200 countries) and UGO (a unique internal tool for accelerating new business models).[2]
At the beginning of 2023, TD started experimenting with virtual and augmented reality. The goal is to interact with customers in more meaningful ways. For example, customers can learn digital banking features through interactive games.
TD Beyond Checking - $300 Cash Bonus
- New customers who apply online for a TD Beyond Checking account can earn a $300 cash bonus after receiving direct deposits of $2,500 or more within 60 days. To qualify for this offer, you must be a U.S. resident and apply for the offer online. Offer is available in these states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
- Three ways to go monthly maintenance fee-free: Monthly Maintenance fee waived when you set up direct deposits of $5,000 or more within a statement cycle, maintain a $2,500 minimum daily balance, or have a $25,000 combined balance across eligible TD accounts.
- ATM perks: TD fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance
- A little extra time. A lot of extra relief: Avoid fees with Grace Period, which gives you until 11 PM ET the next business day to fix an overdraft. Make sure your available balance is at least $0 by depositing enough to cover the overdrawn balance plus any additional transactions and TD will refund the overdraft fee to your checking account.
- Fast and secure payments: TD Bank debit cards are backed by the Zero Liability guarantee and 24/7 fraud monitoring
- Convenient locations with the longest hours around: We have over 1,100 locations from Maine to Florida that's open early, late, and weekends.
- Get reimbursed for fees including two overdraft fees per year, all Rush Bill Payments, and one outgoing wire per statement cycle (domestic or international).
- Additional TD Bank checking account perks worth talking about: Get 24/7 access to all your TD accounts with Online & Mobile Banking, plus Bill Pay, Send
- Money with Zelle®, Mobile Deposit and Online Statements.
TD Convenience Checking℠ - $200 Cash Bonus
- New customers who apply online for a TD Convenience Checking℠ account can earn a $200 cash bonus after receiving direct deposits of $500 or more within 60 days. To qualify for this offer, you must be a U.S. resident and apply for the offer online. Offer is available in these states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
- Waive the $15 monthly maintenance fee with a low minimum daily balance of $100.
- Student perks: No monthly maintenance fee or minimum balance requirements if you're ages 17–23
- A little extra time. A lot of extra relief: Avoid fees with Grace Period, which gives you until 11 PM ET the next business day to fix an overdraft. Make sure your available balance is at least $0 by depositing enough to cover the overdrawn balance plus any additional transactions and TD will refund the overdraft fee to your checking account.
- Convenient locations with the longest hours around: We have over 1,100 locations from Maine to Florida that's open early, late, and weekends.
- Instant-issue debit card replacement: Instantly replace a lost or worn contactless debit card by visiting a TD Bank location near you
- Fast and secure payments: TD Bank debit cards are backed by the Zero Liability guarantee and 24/7 fraud monitoring
- Additional TD Bank checking account perks worth talking about: Get 24/7 access to all your TD accounts with Online & Mobile Banking, plus Bill Pay, Send Money with Zelle®, Mobile Deposit and Online Statements.
Bank of New York Mellon
Bank of New York Mellon is an investment company. They were formed from the merger of The Bank of New York and the Mellon Financial Corporation in 2007.
They have over $341 billion in assets. Plus, around 80 branches across 19 states.
They are currently one of the world's largest custodian bank and securities services companies.
BNY also started a cybersecurity program designed to stay ahead of and respond to cybersecurity threats and attacks.
State Street Corporation
State Street is one of the largest asset management companies in the world. They currently have assets totaling over $298 billion, with over 20 office and retail locations located throughout the US.
State Street has a history dating all the way back to 1792, when it started as Union Bank. After many mergers throughout the years, they eventually sold their banking business to Citizens Financial Group in 1999.
Now, they focus on investment and asset management for institutional investors (serving corporations, asset managers, insurance companies, and central banks).
BMO
BMO is the U.S. division of Bank of Montreal, which owns it through the holding company BMO Financial Corporation.
BMO was founded in 1882 as N.W. Harris & Co. In 1984, they were acquired by the Bank of Montreal. They eventually became branded as BMO Harris Bank in 2011. In 2023, BMO Harris Bank changed its name to BMO.
They increased their presence in the U.S. through a series of acquisitions of other banks, like Suburban Bancorp, Marshall & Ilsley, and most recently, Bank of the West.
They currently have over $265 billion in assets and 600+ branches in the US.
BMO Smart Advantage Checking - $400 Cash Bonus
Open a new BMO Smart Advantage Checking online and get a $400 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 120 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.
BMO Smart Money Checking - $400 Cash Bonus
Open a new BMO Smart Money Checking online and get a $400 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 120 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.
BMO Relationship Checking - $600 Cash Bonus
Open a new BMO Relationship Checking and get a $600 cash bonus when you have a total of at least $7,500 in qualifying direct deposits within the first 120 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.
Citizens Financial
Citizens Financial has over $221 billion in assets. In 2022, Citizens closed a deal with HSBC to acquire 80 of the latter's branches in the New York City Metro area, the Mid-Atlantic/Washington D.C. area, and Southeast Florida.
They now have over 1,100 branches in 14 states and over 3,400 ATMs.
Amidst the difficulty of the global pandemic, Citizens realized they were falling behind in technology. And so they've prioritized speeding up digital transformation and modernizing old systems.
They also saw that the new age is very mobile-first. So they are currently working to develop their online banking to be a very mobile-friendly platform.
Fifth Third Bank
Fifth Third Bank is the principal subsidiary of Fifth Third Bancorp. Their name is derived from the merger of 2 banks in 1909: Third National Bank and Fifth National Bank. Today, they are worth $207 billion.
They have over 1,100 branches and over 40,000 partner ATMs in 11 states.
In March 2023, Fifth Third was awarded Most Innovative Company by Fortune America.[3]
They even developed an app called Momentum which helps students pay off some student debt. It works by letting customers make micro-payments on student loans by rounding up debit card purchases.
Morgan Stanley
Morgan Stanley is a multinational investment bank and financial services company. They have about $205 billion in assets and offices in over 42 countries.
They focus mainly on institutional securities, wealth management, and investment management.
In October 2020, Morgan Stanley made a massive move and acquired E*TRADE. This now makes them a top player serving all types of customers and gives everyday investors access to Morgan Stanley's tools and expertise.
It also offers checking and savings services integrated into your E*TRADE account.
M&T Bank
M&T has $202 billion in assets. They offer personal banking, business banking, and loans.
In April 2022, they completed their merger with People's United Financial. Customers from either bank can now withdraw or make use of the facilities of any of these two banks.
As it stands, M&T has over 1,000 branches and 2,200 ATMs across 12 states.
M&T is a huge supporter of diversity in local businesses. They created the Multicultural Small Business Lab program to help and empower local entrepreneurs to start and grow their businesses.
M&T Bank: Personal Checking Account - Up to $200 Bonus
Open a new M&T EZChoice Checking, MyChoice Plus Checking, or MyChoice Premium Checking account. Make a total of at least $500 in qualifying direct deposits within 90 days of account opening.
KeyBank
KeyBank is the primary subsidiary of KeyCorp, and has over $197 billion in assets. They have 1,000+ branches and over 40,000 KeyBank and Allpoint ATMs in over 15 states.[4]
They are currently the only major bank based in Cleveland. Their services include savings and checking, loans, and financial wellness services.
KeyBank allocates billions in technology investments yearly. They are constantly trying to introduce and keep up with technological advancements that can make their services more convenient for their customers.
Key Select Checking℠ - $200 Bonus
- Earn a $200 cash bonus when you open a Key Select Checking account by 12/8/23 and make one direct deposit of at least $500 within 60 days.
- Convenient banking at 40,000+ KeyBank and Allpoint ATMs.
- Key Select Checking℠ is a premium checking account that earns interest and a $100 annual cash bonus with qualifying activities
- Set custom alerts so you can receive text or email updates about the account information that's important to you.
- Move money easily with Zelle, mobile check deposit, online banking and more.
- Enjoy chip security, Tap & Go technology and all benefits of Mastercard.
- FDIC Insured. Up to the maximum allowable limit.
Key Smart Checking® - $200 Bonus
- Earn a $200 cash bonus when you open a Key Smart Checking account by 12/8/23 and make one direct deposit of at least $500 within 60 days.
- Convenient banking at 40,000+ KeyBank and Allpoint ATMs.
- Key Smart Checking® is a no monthly maintenance fee account
- Set custom alerts so you can receive text or email updates about the account information that's important to you.
- Move money easily with Zelle, mobile check deposit, online banking and more.
- Enjoy chip security, Tap & Go technology and all benefits of Mastercard.
- FDIC Insured. Up to the maximum allowable limit.
Ally Financial
Ally Bank is an online-only bank with over $196 billion in assets. Their services include car finance, online banking, corporate lending, insurance, loans, and a stock trading platform.
They are actually one of the largest car finance companies in the U.S. Throughout their history, they have provided financing for over 150 million vehicles.
Fun fact: Ally actually started in 1919 as a division of General Motors to make it convenient for customers to finance cars at the dealership. They rebranded later in 2010 to Ally Financial and is now one of the largest online banks in the states.
Ally Bank: Interest Checking
- 0.10% APY for daily balances less than $15,000
- 0.25% APY for daily balance over $15,000
- $10/month rebate for ATMs outside of Ally Network
- $0 minimum opening deposit
- No fees to open or maintain account
- FDIC insured
- Daily compounding interest
Huntington Bank
Huntington has over $189 billion in assets. There are over 1,000 branches and over 1,700 ATMs, mainly in the Midwest.
Their wide selection of services includes personal banking, loans, investment, as well as insurance.
Huntington was the top-ranking bank in customer satisfaction in the North Central region and Pennsylvania in the J.D. Power 2023 U.S. Retail Banking Satisfaction Study.[5]
They believe that the further Marketing and Communications gets from the decision-making, the harder it is to keep the brand authentic and functional with consumers.
Huntington: Business Checking Account - $1,000 Bonus
Open a new Huntington Unlimited Plus Business Checking, Business Analyzed Checking, or Non-Profit Analyzed Checking account using offer code. Make a minimum cumulative new money deposit into the new checking account of at least $20,000 within 30 days of account opening. 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, Ohio, Pennsylvania, South Dakota, 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.
How to Choose the Best Bank for You
All banks have something different to offer.
Figure out first what you're looking for. It's important that you carefully look into these banks and check if they have everything you need. Consider some of these:
- Variety of services
Large banks tend to offer more comprehensive services. If you want to handle all your finances under one bank, see if the bank offers what you need.So if you want to save but also want to invest, look if the bank has an investment platform as well as good savings rates.
- Locations
Since these are big banks, most have a lot of locations throughout the nation. But some big banks (like Ally or Morgan Stanley) have no physical branches.If you want to be able to bank in-person, look for banks that have a lot of physical branches/ATMs in your area.
- Customer service
If a problem occurs with your account, you're going to want the best help possible. Look into how they handle customer service. Do they have a 24/7 hotline? Or maybe you'd prefer that they have a branch near you so you can quickly get help. - Fees
Most big banks will have fees, especially if they have physical branches. See if it has reasonable requirements to waive the monthly fee. Some (like Ally and Capital One) offer accounts with no monthly fee. - Savings rates
Large traditional banks typically won't offer APYs as competitive as online banks. This is because they have high overhead to maintain their physical branches. Plus, unlike small banks, bigger banks don't really need to entice people to deposit because they already have a lot of money.
Your money is safe in either. What's important is that the bank that you put your money in is FDIC insured. Just like national banks, most regional banks are FDIC insured for up to $250,000.
Methodology
To come up with the list of the biggest banks in the US, we checked the Federal Reserve data. Then we checked the total worth of the consolidated assets of each bank.
For the convenience of their customers, we checked into the number of physical branches as well as ATMs.
We also looked into the services each bank offers and what they specialize in.
Bottom Line
Large banks usually offer more convenience and a wide range of services. However, it doesn't mean it's always the best choice for you.
Remember that when the bank is larger, they cater to more customers. This means that they may have a less personal touch than if you bank with, say, regional banks or credit unions.
In order to figure out the best kind of institution to bank with, look first at the services you're looking for. Your money is insured in these institutions, so it really just boils down to the kind of service and treatment you want.
References
- ^ Euromoney. The world's best bank 2022: Bank of America, Retrieved 6/27/2023
- ^ Business Intelligence Group. 2022 BIG Innovation Awards, Retrieved 6/27/2023
- ^ Fifth Third Bancorp. Fifth Third Bank Awarded on the Fortune's America's Most Innovative Companies 2023 List, Retrieved 6/27/2023
- ^ KeyBank. Get to Know Key, Retrieved 8/29/2023
- ^ J.D. Power. 2023 U.S. Retail Banking Satisfaction Study, Retrieved 6/27/2023
Write to Katarina Rodriguez at feedback@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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