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Best Banks and Credit Unions
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The Best Credit Unions and Banks
Check out our list of the best credit unions and banks which can assist you in managing and increase your money efficiently.
by Ruth Sarreal Content Management Specialist Bank accounts, bank account bonuses Ruth Sarreal is a content management specialist covering the topics of banking for consumers at NerdWallet. She has more than 10 years of experience in creating and editing content for consumer websites. She has previously edited content on personal finance issues at GOBankingRates. She has had her work highlighted on Nasdaq, MSN, TheStreet and Yahoo Finance.
Updated 17 March 2023
Editor: Yuliya Goldshteyn Assistant Assigning Banking Yuliya Goldshteyn is a banking editor with NerdWallet. She previously worked as an editor, a researcher and writer in industries ranging from health care to market research. She graduated with a bachelor's degree in the field of history at the University of California, Berkeley as well as a master's degree in social sciences from the University of Chicago, with a focus on Soviet culture and history. She lives in Portland, Oregon.
The majority or all of the products featured here come from our partners who pay us. This impacts the types of products we write about and where and how the product is featured on the page. However, this does not affect our opinions. Our views are our own. Here's a list of and .
The most suitable institution or bank is based on what you're in the market for such as a savings account, a checking account or both. Whatever you're searching for, NerdWallet will have you covered.
Here's a look at the best overall institutions and accounts for 2023. APYs shown are current as of March 17 2023. The other information is up-to-date as of Jan. 13th 2023.
+ See a summary of NerdWallet's top banks and credit unions of 2023.
Best-of 2023 Banking Winners:
Alliant Credit Union: Best credit union.
Ally Bank: Best bank and the most reliable cash market bank account.
Capital One 360: Best online banking experience.
Charles Schwab Bank: Best bank or credit union to get ATM access.
Chase: Great for signing-up bonuses as well as branches access (tie).
Discover Bank: Best savings account.
SoFi: The best savings and checking account Best checking account for all; most reliable checking account with high interest; best checking account that doesn't charge a monthly fee; top checking account for overdraft fee avoidance.
Synchrony Bank: Best bank or credit Union for CDs.
Wells Fargo Bank: Best credit union or bank for branches with branch accessibility (tie).
Other excellent accounts :
Axos Bank: Excellent to check interest on checks as much as $50,000.
Connexus Credit Union: Great for interest-checking as much as $25,000.
LendingClub Bank: Best for cash back.
Marcus is a product of Goldman Sachs: Best for the same day, high-limit transfer.
Quontic Bank: Most domestic ATMs.
Best banks and credit unions
NerdWallet spent nearly 200 hours in comparing and rating over 80 financial institutions which includes banks, neobanks as well as credit unions, to pick winners in more than 10 categories. Read on for more information about the accounts and institutions that took top honors this year.
Alliant Credit Union: Best credit union
More than 80,000 ATMs are free and interest checking options.
2.70% APR on savings.
Learn more about our .
Ally Bank: Best bank and best money market account
No fees for overdrafts plus greater than 43,000 ATMs
3.75% APY on savings and 3.80% APY on all accounts within the cash market accounts.
Learn more about our .
Capital One 360: Best online banking experience
More than 70,000 ATMs are free offer tools, such as virtual help and card number virtualization Teen checking is available.
3.40 percent savings APY.
Learn more in our .
Charles Schwab: Best for ATM access
Unlimited worldwide ATM cost reimbursements.
0.45% checking APY.
Learn more about our .
Chase: Best for sign-up bonus offers and Branch access (tie)
There is no minimum deposit requirement to earn cash bonus for new checking account.
Over 4,700 branch locations spread across 49 states.
Find out more about us in our .
Discover Bank Best savings account
No monthly fees and 3.60% annual percentage yield.
Find out more about us in our .
SoFi: Great for savings and checking High interest checking, the ability to avoid fees for overdrafts and more.
The possibility of 4.00 percent APY on savings balances and up to 1.20% APY on checking balances (APY is variable and subject to fluctuation).
There are no overdraft charges and there is no cost for coverage for overdrafts.
Learn more in our .
Synchrony Bank: Great for CDs
Highly affordable CD rates.
Bump-up CDs and 11-month no-penalty CDs are available.
Read more in our .
Wells Fargo Bank: Best branch access (tie)
Around 4,700 branches spread across the country.
Find out more about us in our .
Another great account of 2023
You should also consider an account for savings or a checking account at one of the banks listed below. Savings accounts have APRs that are much greater than the national average of 0.37 percent and the checking accounts have perks like interest on accounts with balances in the checking account as well as ATM fee reimbursements. (Read more about each type of bank account by reading our article about and .)
Axos Bank: Great for interest checking up to $50,000
up to 3.30% APY when checking balances up to $50,000.
Unlimited ATM fee reimbursements.
Find out more about us in our .
Connexus Credit Union: Great for checking interest on up to $25,000
up to 1.75% APY on checking balances of up to $25,000.
More than 67,000 ATMs are fee-free.
Find out more about us in our .
Savings Cash Management CD Checking Money Market
Member FDIC
Savings and SoFi Checking
The APY is 4.00 percent SoFi customers who have direct deposit are eligible to earn up to 4.00 percent annually-percentage yield (APY) on savings balances (including Vaults) and 1.20 percent APY on checking balances. There is no minimum amount of direct deposit that is required to be eligible for 4.00% APY for savings. Customers who do not deposit direct deposits will earn 1.20% APY on all account balances in checking and savings (including Vaults). The rates of interest are variable and can change at any point. The rates listed are current as of 03/17/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
Min. balance for APY $0
Member FDIC
Marcus by Goldman Sachs Online Savings Account
APY 3.75 percentage 3.75% Annual percentage yield (annual percentage yield) with $0 minimum balance to earn the stated APY. Accounts must be in a positive balance to remain open. APY valid as of 02/14/2023.
Min. balance for APY $0
Member FDIC
CIT Bank Platinum Savings
APY 4.75%
Min. balance to APY $5,000
These cash accounts combine features and services that are similar to savings, checking and/or investment accounts into one product. The cash management account is typically offered by non-bank financial institutions.
The cash accounts offer services and features similar to checking, savings and investment accounts into one product. Cash management accounts are usually offered by non-bank financial establishments.
on Wealthfront's website
The Wealthfront Cash Account
APY 4.30%
Min. balance for APY $1
on the Betterment's website.
Betterment Cash Reserve - Paid non-client promotion
APY 4.20 Percentage of annual percent yield (variable) is as of 03/27/2023.
Min. balance to APY $0
CDs (certificates of deposit) are a kind of savings account that comes with an interest rate fixed and a term typically, they have higher interest rates than traditional savings accounts.
CDs (certificates of deposit) are a type of savings account with the option of a fixed rate and time generally, they offer higher interest rates than regular savings accounts.
Member FDIC
Marcus by Goldman Sachs High-Yield 10-Month CD
APY 5.05 percent 5.05 percent APY (annual percent yield) as on 03/28/2023. Special Offer Expires 09/15/2023.
Term 10 months
The CIT Bank no-penalty CD
APY 4.80%
Term 11 months
Checking accounts are utilized for cash deposits on a regular basis as well as withdrawals.
Checking accounts are used to deposit cash on a daily basis and for withdrawals.
The deposits are FDIC Insured
Current Account
APR N/A
Monthly fee of $0
Chime Checking Account
APR N/A
Monthly fee: $0
Member FDIC
Axos Bank(r) Rewards Checking
APY 3.30% Your annual percentage yield can be as high as 3.30 percent depending on the following combination rate-rewards: direct deposits (not including transfers between banks from an account) with a total of $1,500 or more every month earn 0.40%. A direct deposit that qualifies as a direct deposit is required to satisfy to meet the other interest rate eligibility to apply. Ten (10) point-of-sale transactions each month, using Your Rewards Visa(r) Debit Card to make regular purchases, with at least $3 for each transaction, or registering for Account Aggregation/Personal Finance Manager (PFM) will earn 0.30 percent; and maintaining your average balance per day of $2,500 for your Axos self-directed trading Invest account earns 1.00%. Maintaining an average of $2,500 a month on the Axos Managed Portfolio Invest account will earn 1.00 percent; and making a monthly installment to an open Axos bank consumer loan (commercial as well as business loans exempted) via transfer from your Rewards Checking account can earn a maximum of 0.60%.
Monthly fee: $0
Market accounts for money pay interest rates similar to savings accounts and have some features for checking.
The money market accounts have rates similar to savings accounts, and come with some checking features.
Member FDIC
Discover Bank Money Market Account
APY 3.50%
Min. balance to APY $1
LendingClub Bank: Best for cash back
Unlimited 1% cash back on debit card purchases if you meet a minimum monthly balance or direct deposit requirement.
Unlimited worldwide ATM fees reimbursement.
Find out more about us in our .
From top to bottom
Marcus is a product of Goldman Sachs: Best for the same-day, high-limit transfer
Same-day external transfers online up to $125,000.
3.75% annual percentage yield (annual percentage yield) with a minimum balance of $0 to earn stated APY. Accounts must be in an active balance in order to remain open. APY valid as of 02/14/2023.
Find out more about us in our .
Quontic Bank: Most domestic ATMs
More than 90,000 in-network ATMs.
1.10% APY on checking when you meet minimum debit card spending requirements.
Read more in our .
Are you looking for more great alternatives? Check out our top picks and
Do you have something more specific in mind? If so, take a look at these articles:
Compare the best cash-back and savings accounts
Back to top
Find the top CD accounts
From top to bottom
Check out the top checking accounts
Back to top
Compare the best bank, credit unions,, and cash management accounts
Return to the top
Find the top banks for kids and students.
A summary of the top banks and credit unions in 2023
Financial institution
Ideal for ...
NerdWallet's ratings are determined by the editorial staff. The scoring formulas take into account multiple data points for each financial product and service.
Best credit union overall.
The ratings of NerdWallet are formulated by our editorial team. The scoring formulas take into account multiple data points for each financial service and product.
Best bank overall.
The best Money Market Account.
NerdWallet's ratings are determined by our editorial team. The scoring formulas consider many data points for every financial product or service.
The best online banking experience.
The NerdWallet ratings are made through our team of editors. The scoring formulas take into account many data points for every financial product or service.
The best credit union or bank to use for ATM access.
The NerdWallet ratings are made by our editorial team. The scoring formulas consider many data points for every financial service and product.
Best bank or credit union for signing-up incentives.
Best bank or credit union to access branch locations (tie).
NerdWallet's ratings are made by our editorial team. The scoring formulas are based on multiple data points for every financial product or service.
The best savings account.
The ratings of NerdWallet are formulated by the editorial staff. The scoring formulas take into account many data points for every financial product or service.
Best checking and savings combination.
Best overall checking account.
The best checking account to earn high-interest.
Best checking account for checking with no monthly cost.
Best checking account to avoid overdraft fees.
The ratings of NerdWallet are formulated by our editorial team. The scoring formulas consider many data points for every financial product or service.
The best credit union or bank for CDs.
The ratings of NerdWallet are formulated by our editorial team. The scoring formulas consider many data points for each financial product and service.
The best credit union or bank to access branch locations (tie).
Another great account of 2023
The NerdWallet ratings are made by the editorial staff. The scoring formulas consider many data points for every financial product or service.
Ideal for checking interest on up to $50,000.
NerdWallet's ratings are made by our editorial team. The scoring formulas take into account multiple data points for every financial service and product.
Excellent for interest-checking for the amount of $25,000 or more.
NerdWallet's ratings are determined by our editorial team. The scoring formulas consider several data points associated with each financial service and product.
Best for cash back.
The ratings of NerdWallet are formulated by our editorial team. The scoring formulas take into account several data points associated with each financial product and service.
Best for same-day, high-limit transfers.
NerdWallet's ratings are made by the editorial staff. The scoring formulas take into account several data points associated with every financial product or service.
Most domestic ATMs.
>> Looking for the biggest banks in the country?
We took a close look at nearly 80 financial institutions as well as financial service providers, including the biggest U.S. banks based on assets, internet search traffic, and other aspects; the nation's largest credit unions in terms of membership and assets; and other prominent and/or emerging players in the field. We evaluated them based on criteria including annual percentage yields and minimum balances, fees, digital experience , and many more.
The financial institutions and providers that are surveyed are: , the following are the the and , , , , the , Liberty Bank, , , (by Axos), and , , , , , Scarlet, , .. , , , , , , , , and .
The author's bio: Ruth Sarreal is a content management specialist at NerdWallet. She has edited and written content on personal finance topics for more than five years.
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