Best banks of 2019

Top 10 Personal Banks For 2019

The “right” bank varies according to individual needs, financial goals, and preferences. Some people want a brick and mortar financial institution, allowing them the option to walk in and talk to someone face to face. Others already handle all of their banking on line, and would benefit by switching to a bank that offers fewer fees as a trade off for on-line only customer service. Choosing the right bank is also dependent on investment needs. Some banks offer tiered interest savings accounts. Some offer money market accounts, loans, credit cards, and CDs. Then there’s the always important business of uncovering hidden fees.

To help with this important process of choosing the right bank to care for your hard earned money, here is our list of the top ten banks in 2019:

 

Wells Fargowells fargo

Bank Type: Branch and Online
Checking Interest Rate: 0%
Savings Interest Rate: 0.01%
IRAs: Available

Wells Fargo Bank began serving customers in the mid-1800’s and they still pride themselves on customer service. Wells Fargo offers checking, savings, and CDs.

Chase BankChase

Bank Type: Branch and Online
Checking Interest Rate: 01% -.11% with Chase Sapphire or Chase Premier Plus checking accounts
Savings Interest Rate: 0.01% -.04%
IRAs: Available

Established in 1799, Chase Bank is the oldest financial institution featured on the Top 10 Personal Banks of 2019 list. They charge a $12 – $25 monthly fee for checking accounts, but there are ways to avoid that.

  • Maintain a $1500 minimum daily balance.
  • Direct deposits totaling $500 or more
  • An average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances

AllyAlly

Bank Type: Branch and Online
Checking Interest Rate: 0.10%-0.60%
Savings Interest Rate: 0.99%
IRAs: Available

With a zero dollar minimum deposit and no annual fees, Ally Bank really works to help you grow your money. With some of the highest interest rates out there at 0.99% for a savings account and 0.10% for a checking account, Ally helps you save and earn more. Part of Ally Financial, Ally Bank is headquartered in Midvale, Utah, and has over 600 employees across its two U.S. offices.

USAA Federal Savings BankUSAA

Bank Type: Branch and Online
Checking Interest Rate: 0%
Savings Interest Rate: 0.05%
IRAs: Available

Another personal bank that does not offer interest on their checking and savings accounts, USAA Federal Savings Bank makes up for it with their other financial products. Founded in 1983, USAA Federal Savings Bank offers everything from auto and home insurance to CDs and college savings plans. As an all in one financial institution, USAA Federal does a great job of being a one-stop shop for their customers.

Simplesimple

Bank Type: Online
Checking Interest Rate: 0%
Savings Interest Rate: N/A
IRAs: N/A

The most recently founded bank on the list, Simple provides online budgeting solutions to its customers. Having a strictly online bank can be tough for some people, but in reality, not paying for brick-and-mortar locations can actually decrease costs and fees overall. Simple is geared towards saving and budgeting, and provides customers with various tools to reach their financial goals.

Bank of Americabank-of-america

Bank Type: Branch and Online
Checking Interest Rate: 0%
Savings Interest Rate: 0.03%
IRAs: Available

Possibly the most well-known bank mentioned on the list, Bank of America has its reputation on its side. Convenience is a huge factor for most customers, and BOA is up there with Discover Bank. Branches and ATMs are located in various locations across the country and are easily found with their online branch location feature.

Discover Bankdiscover-bank

Bank Type: Branch and Online
Checking Interest Rate: 0%
Savings Interest Rate: 0.95%
IRAs: Available

In terms of convenience, Discover Bank can be considered a winner when it comes to comparing them to other financial institutions. There are over 60,000 free ATMs in the United States that accept Discover debit cards, and reordering checks is completely free of charge. One of the best parts of being of Discover Bank customer is that for every check you deposit you earn 10 cents. It isn’t a huge amount, but considering you would be doing that for nothing with any other bank, it is a neat aspect of their services.

Bank of the WestBank-of-the-West

Bank Type: Branch and Online
Checking Interest Rate: 0.01%-0.03%
Savings Interest Rate: 0.03%-0.20%
IRAs: Available

Bank of the West only services certain states at this time, generally in the western section of the United States. Monthly fees can be up to $30 for their checking and savings accounts, so be sure to enroll in a program that will waive the fees for you. This includes having a minimum monthly balance or receiving direct deposit into the account. Other than fees that can easily be waived, Bank of the West provides quality banking services to their customers.

Union BankUnion-Bank

Bank Type: Branch and Online
Checking Interest Rate: 0%
Savings Interest Rate: 0.01%
IRAs: Available

Union Bank has 398 branch locations in California, Oregon, and Washington and is owned by Japanese Tokyo-Mitsubishi Bank. Although their branch locations are limited, banking and other services are available in various states across the country. They recently introduced an app for Android and iPhone, which helps customers manage their accounts on the go.

RBS CitizensRBSCB

Bank Type: Branch and Online
Checking Interest Rate: 0.01%
Savings Interest Rate: 0.01%-0.05%
IRAs: Available

RBS Citizens Bank offers savings accounts for college students and home-buyers that accrue interest over time. They also offer assistance in closing costs if you have a home-buying savings account, up to $1,000 with a Citizens Bank mortgage. The interest rate varies and depends on the account you have and what you are saving for, so be sure to take advantage of the correct accounts for your needs.

Having a great personal bank can give you a positive outlook on your finances. Depending on your situation, you may be more interested in accruing interest or having a bank that offers all of your financial needs in one stop. No matter the circumstance, it is important to be informed and do your research before trusting your money with any bank. Use this list as a reference guide when considering personal banks and how they can assist you with your goals.