Best National Banks of 2022-2023

Rangely García for Money
Rangely García for Money

Local banks can give you the personal touch and online banks can give you great interest rates — but when you need in-person service available nationwide, you need a national bank. National banks have thousands of locations and a full range of services, including loans, credit cards and investment accounts. They also have name recognition.

Money assessed these factors and more to come up with our list of the best national banks available now.

Here are our picks for the best national banks of 2022-2023:

  • Chase Bank: Best overall

  • Citibank: Best rate

  • PNC Bank: Best combo checking/savings account

  • TD Bank: Best checking perks

  • Wells Fargo: Best for mobile banking

  • U.S. Bank: Best for low fees

  • Truist: Best for relationship rewards

  • Capital One: Best customer satisfaction

Best overall: Chase Bank

Chase bank building
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With a large ATM network and more than 4,700 branches, Chase is our choice for the best overall national bank. While Chase’s annual percentage yield (APY) on savings is low, there are no minimum balance requirements. Plus, the monthly fee on a checking account is easy to waive if you have monthly direct deposits that total $500 or more. New customers can qualify for cash bonuses ranging from $100 to $600 by opening a checking and savings account, and completing qualifying activities. Chase has a wide variety of products, including investment services and a travel rewards and cash-back system called Ultimate Rewards that pairs nicely with a Chase account.

Chase Bank highlights

Pros

  • 0.01% APY

  • $0 minimum balance to open

  • Large ATM network (16,000 ATMs)

  • Cash bonuses for opening new accounts

Cons

  • $12 monthly service fee for checking account (can be waived)

  • Interest rate is low

Best rate: Citibank

Citibank building
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We chose Citibank for the high rates it offers on a wide range of certificates of deposit (CDs). You can earn up to 4% interest, depending on the term and type of CD. Citibank’s 12-month no-penalty CD stands out because it offers the best interest rate of any bank with a national presence we reviewed. With this CD, you can withdraw funds before the maturity date without incurring a penalty.

Citibank highlights

Pros

  • 3.10% APY on 12-month no-penalty CD

  • $500 minimum balance to open for no-penalty CD

  • Can withdraw full amount of CD without incurring a penalty after 6 days of opening on no-penalty CDs

Cons

  • APY on some short-term CDs is very low

Best combo checking/savings account: PNC Bank

PNC Bank building
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PNC bank is a national bank but only operates in 28 states and the District of Columbia. If you do live in a state where it’s offered, you may be able to benefit from periodic new-customer sign up bonuses. In addition to a large network of ATMs, including 60,000 in its partner network, PNC offers a combination account called the Virtual Wallet. This two-accounts-in-one option — a checking and savings account — has unique features that allow you to set savings rules and goals all within your account.

PNC Bank highlights

Pros

  • APY varies, depending on location

  • $0 opening balance

  • Large ATM network (60,000 ATMs)

Cons

  • Only two out-of-network ATM fee reimbursements

  • Monthly service fees range between $7 and $25, although they can be waived

Best checking perks: TD Bank

TD Bank building
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TD Bank is currently offering a $300 bonus to new customers who open a TD Beyond Checking account and complete qualifying activities. The account does have a high monthly fee of $25 — but with that fee, you get reimbursed for non-TD ATM fees, reversal for overdraft fees up to two times per year and rush bill payments. Keep in mind that while TD Bank is a national bank, it’s only available in 15 states and the District of Columbia along the East Coast.

TD Bank highlights

Pros

  • 0.01% APY

  • $0 opening balance

  • Free checks, money orders and incoming wire transfers

  • 0.25% discount on personal loans and home equity lines of credit

  • Waived service fees when you open a TD Simple Checking account and any savings account

Cons

  • APY is low

  • Monthly service fee of $25

  • Small ATM network (Fewer than 1,000 ATMs)

Best for mobile banking: Wells Fargo

Wells Fargo ATM machines being used by clients
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Wells Fargo snagged the spot for best mobile banking on our list, thanks in part to garnering the best mobile banking reviews of any bank we considered. The bank’s app was consistently rated easy to use and navigate, with help readily available and no ads. While Wells Fargo’s accounts have a monthly fee, the fee is easy to waive with a relatively low balance or direct deposit requirement. The APY on savings is low, but the bank does have a very extensive ATM network.

Wells Fargo highlights

Pros

  • 0.01% to 0.02% APY

  • $25 minimum opening balance

  • Large ATM network (12,000 ATMs)

Cons

  • $5 to $10 monthly service fee, which can be waived on the Everyday Checking account if you maintain a $500 minimum daily balance or receive $500 or more in direct deposits monthly

  • Interest rate is low

Best for low fees: U.S. Bank

Us Bank building sign in close up
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U.S. Bank has a low monthly service fee of $6.95, which can easily be waived through direct deposit, keeping an average account balance of $1,500 in the account or having a U.S. Bank credit card. The bank offers several types of accounts, including special accounts for students with credit cards. U.S. Bank also provides a relationship discount on mortgage rates and auto loans to existing customers.

U.S. Bank highlights

Pros

  • $25 minimum opening balance

  • Overdraft fees can be waived through the OverDraft Fees Forgiven program

  • 0.25% discount on a new mortgage, applied to closing costs

Cons

  • 0.01% APY on savings account is low

  • No out-of-network ATM fee reimbursements

Best for relationship rewards: Truist

Truist bank building
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Truist accounts offer more rewards based on how much money you keep in those accounts. Rewards include ATM fee reimbursements, as well as 10%-50% more cash back or Delta miles on their credit cards. The bank also offers a $100 negative balance buffer, no overdraft fees and a free 10-pack of personal checks. The savings account rates are low, which is typical for a national bank, but Truist does offer CDs with competitive rates.

Truist highlights

Pros

  • $50 minimum opening balance on checking

  • Bonuses and rewards increase as account balance grows

  • $0 monthly service fees when opening additional savings or checking accounts

Cons

  • 0.01% APY on savings is low

  • Does not pay interest on checking

  • No out-of-network ATM fee reimbursements

Best customer satisfaction: Capital One

Capital One bank building
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Capital One is our best bank for customer satisfaction as it received the highest customer satisfaction rating — 629 out of 1,000 — in JD Power’s U.S. Direct Banking Satisfaction Study of 2022. In addition to a high customer service rating, Capital One offers access to over 70,000 ATMs with no account monthly maintenance fees and a very high APY rate of 3.0% on savings accounts. The bank has very few bank branches, so while it is a national bank, it functions more like an online bank without the personal touch that you might be looking for.

Capital One highlights

Pros

  • 3.00% APY on 360 Performance Savings Account

  • $0 opening balance

  • $0 monthly service fees

  • Large ATM network (70,000 ATMs)

Cons

  • Limited number of branches

  • No out-of-network ATM fee reimbursement

How we chose the Best Banks of 2022-2023

To determine our list of Best Banks for 2022-2023, Money staff evaluated 50 of the largest retail banks and credit unions, ranked by assets, and 15 of the most popular online banks. We then compared opening balance requirements, interest paid, fees and features to determine our top picks. You can read our full methodology here.

More from Money:

Return to Best Banks of 2022-2023

Best Online Banks of 2022-2023

Best Credit Unions of 2022-2023

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