Best Bank In The United States

Banking is an essential part of our lives, and it has changed significantly in the 21st century. By the way, do you know which is the best bank in the United States? With the advent of technology, conventional banking has taken a backseat while internet banking is rising. From national banks to commercial banks, the numbers are increasing with each passing year. With so many banks, it has become challenging to choose the best one. Here are some of the best banks in the United States.


Best Bank In The United States

Bank Of America

It is the best national bank, especially in the southwest. It has over 4300 branches in 37 states. The Bank of America has 16000 ATMs, and its growth closely connects to the strength of the U.S. economy. Bank of America will provide you with the best bank accounts. The company is expanding, and once the expansion is complete, almost 90 % of the U.S. population will be utilizing its services. In recent years, the capital levels of the Bank of America have improved significantly and will be higher than their peers in the banking industry.


Citibank

It is another multinational bank with 723 branches in the United States and another 1800 branches located outside the country. Citibank has close to 65000 fee-free ATMs that U.S. customers can access. The headquarters are in New York. The bank has assets worth $1.63 trillion, while the deposits are $1.24 trillion.


Discover Bank

It is a leading company in the banking sector and is known for the pioneering cashback credit card. Discover Bank began offering services in 2013 and is a digital company. It operates online through an app and has a vast network of more than 60,000 ATMs. It is a perfect fit for all those who see who are looking for an excellent digital bank.


Wells Fargo

In 1852 Henry Wells and William Fargo founded Wells Fargo. Even though the bank has focused on consolidating and eliminating the branches, Wells Fargo still has more units than any bank in the country, including the national bank. Wells Fargo has a savings app with a mobile baking app developed for the millennial group. Recently, the bank went through a series of mishaps which earned it negative reviews from the customers. Since then, it has strived relationships with its customers. It is worth mentioning that the assets of Wells Fargo total $1.8 trillion. It is ranked number 26 on Fortune 500 rankings of largest U.S. corporations in 2018.


Alliant Credit Union

Alliant Credit Union is also one of the leading institutions in the banking system. It is an online credit union and will provide you with the best bank accounts and a wide range of services. The cost fee is low, and the interest rate is competitive. It was founded in 1935 and has grown to become one of the largest credit unions in the U.S. With it. You can open up a bank account that you can use for long-term savings and daily use.


Chase

Chase is one of the national banks and has over 4900 branches in 33 states. There also offer 16,000 ATMs located around the country. Better Business Bureau gives Chase an A+ in trustworthiness. It has special sign-up bonuses, which another national bank does not offer. On the J.D. Power’s U.S. National Banking Satisfaction Study, it ranks on number two.

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Ally Bank

It is another online-only bank. Because of this, it does not have any branch locations. Ally Bank does not have any ATMs to its name either. The mobile app has many features that other banking apps do not have. This aspect includes a mobile check deposit and an ATM locator. However, the bank dominates the high yield savings industry for a couple of years. Its online banking system is impeccable. Unlike other online banks, Ally Bank also offers 24/7 customer service. You can talk to them on the phone or via online chat.


Huntington Bank

Huntington Bank has over 800 branches and 1400 ATMs in 7 states. It has total assets worth $114 billion. Huntington Bank is a full-service bank provider that focuses on building a good relationship with its customers. The bank offers a range of services, starting from mortgage banking service to brokerage service.


How To Choose A Bank

How do you identify a financial institution that will meet your needs and help you grow? Whether you are moving, heading to a college, or looking for a new bank to open up a bank account in, there are some factors you should consider.


Identify Which Type Of Bank You Need

Evaluate your goals. If you want to go for online banking and do not prefer face-to-face meetings, you should opt for an online bank. Remember, different banks do have different strengths. You have to go with what suits you and your needs. Furthermore, you might also feel that the location of the bank is essential. Maybe you are old school, and you want your bank close to your house. So you don’t have to deal with the hassle of going somewhere else. In that case, decide accordingly.


The Fee

Some banks charge more while others charge almost nothing. Sit with the bank official and look at the fee they charge. If it does not fall in your budget, you should not open a bank account there. Some banks require a minimum balance. If you do not have that, they penalize you for it. Ideally, it would help if you went to a bank where there are no extra fees and no balance requirements.


Different Banks For Different Needs

Perhaps you should keep different banks. You could have a savings account at an online bank, but you can deposit your emergency fund in another bank. In this way, you will reduce the temptation to withdraw money and manage your budget accordingly.


The Bottom Line

Banking is an essential aspect of our lives, and we need to make the right choice when deciding which bank will suit our needs. You can choose from plenty of banks. Just make sure that it will fit your goals and will not be a source of grievance in the long run.

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Mydollarbillshttps://www.mydollarbills.com
Hi, we are Lena and Chris. A finance-addicted couple from Germany. Ever since we can remember we are interested in finance. We love to research and review complex topics. As we were quite familiar with the world of finance at all, we thought we should share this information with the rest of the world. Our main reason we do this is to help people to orientate themselves in the confusing daily finance puzzle.

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