The best in banking

Ally Bank offers many best-in-class products, all paying competitive yields. Ally doesn’t charge any fees (it even eliminated overdraft fees in 2021), and there are no minimum deposit or balance requirements on its accounts. The bank’s 24/7 phone customer service and call center wait-time updates on its website exemplify its commitment to customer service.

Capital One operates around 300 branches and cafés and also provides online banking services. This full-service bank’s savings accounts and CDs earn competitive yields for a big bank. Customers can access more than 70,000 fee-free ATMs from the Capital One, Allpoint and MoneyPass networks. The bank eliminated fees for overdrafts and nonsufficent funds in 2022.

Ally Bank has become the gold standard of online banks. Ally offers savers nationwide consistent, competitive rates and supports a mobile banking app with useful features, such as the ability to set up savings buckets. Ally neither requires minimum balances to open accounts nor does it charge overdraft fees, and its partnership with Allpoint provides customers with access to more than 43,000 fee-free ATMs nationwide. Customers who use an out-of-network ATM are reimbursed up to $10 at the end of each statement cycle.

Texas Capital Bank’s main deposit accounts – checking, savings, money market and CDs – helped it earn the best regional bank title. The bank has 10 locations in Texas, according to the FDIC. It has locations in Austin, Dallas, Fort Worth, Houston and San Antonio, according to the bank’s website.

Its Star Plus Checking account doesn’t have a minimum balance requirement, and it offers four out-of-network ATM rebates and more than 55,000 fee-free ATMs. You get free checks with the account, and you’ll also earn some interest. The account also offers Zelle to send money. 

But those looking for above-average yields will want to consider the bank’s Star Money Market and High-Yield Savings accounts. Some of Texas Capital Bank’s CDs also earn a very competitive yield. 

It didn’t factor into this scoring, but Texas Capital Bank also has an online bank called Bask Bank for customers outside of Texas.

Alliant Credit Union offers competitive CDs with terms ranging from three months to five years. It also offers a slightly higher APY on some of its CDs if you deposit more than $100,000. The Alliant High-Rate Savings account offers a yield that’s above the national average. Alliant offers access to thousands of ATMs that won’t charge you a fee. 

The credit union’s High-Rate Checking is an interest-bearing account that doesn’t charge overdraft fees, and you get a free box of checks when you open the account. 

Alliant Credit Union operates entirely online, and is the country’s 13th largest credit union, with more than 809,000 members as of June 30, 2023. 

One way to qualify for Alliant Credit Union membership is by living or being employed in a listed community near the credit union’s Chicago headquarters. Those who don’t meet Alliant’s traditional membership requirements can make a one-time $5 payment and Alliant Credit Union will donate that money to Foster Care to Success.

EverBank, formerly TIAA Bank, offers its Online Savings account, which earns a highly competitive yield. The account also doesn’t require a minimum opening deposit or charge a monthly service fee.

The savings account also offers a one-year introductory APY for new customers. That could come in handy if the Federal Reserve lowers rates drastically in the next year, which may influence some banks to lower their yields, in turn. (Though the Fed isn’t expected to lower rates, no one 100 percent knows the future of rates.) 

In August 2023, TIAA Bank started doing business as EverBank following the sale of TIAA bank to private investors.

Quontic Bank’s money market account offers a competitive yield and only requires a minimum opening deposit of $100. The account comes with a debit card, and it doesn’t charge a monthly service fee. It also comes with check-writing privileges.

Ally Bank offers seven standard CDs in a variety of term options, all of which earn yields that are well above national averages. Ally also offers a no-penalty CD and two raise-your-rate CDs. None of the CDs have a minimum deposit requirement, making them accessible to nearly anyone.

Ally Bank’s Spending Account is an interest-bearing checking account that requires no minimum balance, and you’ll earn a tiered yield based on your balance. There are no monthly service fees or overdraft fees, and you can get paid up to two days sooner with early direct deposit. Customers can access 43,000 in-network ATMs, and Ally doesn’t charge customers for using out-of-network ATMs. Moreover, it reimburses up to $10 each month in ATM surcharges imposed by other banks.

Chase Bank offers plentiful access to branches and ATMs, along with a robust mobile app and a website that allow for convenient digital banking. But the bank is also known for its sign-up bonuses when you open certain checking accounts or refer a friend who opens a qualifying account.

When we conducted our research, Chase offered cash bonuses between $100 and $300 for opening one of several personal or business checking accounts and meeting requirements (which can include making deposits, debit card purchases or online bill payments). Currently, Chase customers can also earn $50 for each friend who opens a qualifying bank account (up to $500 per calendar year).

Chase offers more branches than any other bank in the U.S., with locations in all 48 contiguous states and the District of Columbia. In total, Chase maintains more than 4,900 branches, plus around 16,000 ATMs.

Wealthfront is an automated investment firm that also offers a compelling cash management account. The account earns a highly competitive APY on all balances, requires a minimum of just $1 to open, and charges no monthly fees. It also allows for unlimited withdrawals and transfers, and customers who set up direct deposit into the account can access their paychecks up to two days early. Your funds are protected up to $8 million by FDIC insurance because Wealthfront spreads deposits across multiple partner banks.

Capital One offers its 360 Checking account customers fee-free access to more than 70,000 Allpoint, MoneyPass and Capital One ATMs, including those located in some CVS, Target and Walgreens stores. What’s more, Capital One doesn’t charge these account holders fees for using ATMs that aren’t in its network (although the bank that owns the ATM may impose a surcharge).

Citibank’s mobile banking app is highly rated on the Apple App and Google Play stores, where more than 4 million users have reviewed the app, collectively. The app makes it easy to perform all your basic banking tasks in one place, including sending money with Zelle, locking or unlocking a lost or stolen card, setting travel notices, opening new accounts and finding ATMs near you. It also provides useful spending insights and bill management features.