Best Banks and Credit Unions

Check out our quick lists of the best banks and credit unions that can help you manage and grow your money.
NerdWallet
By NerdWallet 
Edited by Yuliya Goldshteyn

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The best bank, credit union or neobank for you depends on what you’re in the market for: a savings account, a checking account or both.

NerdWallet spent more than 200 hours comparing and rating nearly 80 financial institutions, including banks, neobanks and credit unions, to identify those with the best deposit accounts. (Neobanks provide many of the same services that traditional institutions offer, but are not technically banks themselves. Learn more about neobanks and what they offer.)

Read on for more about these institutions and accounts.

Best banks and credit unions:

  • Ally Bank: Best bank.

  • Alliant Credit Union: Best credit union.

  • Chase: Best for sign-up bonuses and for branch access (tie).

  • Capital One 360: Best online banking experience.

  • Charles Schwab Bank: Best bank or credit union for ATM access.

  • Synchrony Bank: Best bank or credit Union for CDs.

  • Wells Fargo Bank: Best bank or credit union for branch access (tie).

  • Discover Bank: Best savings account.

  • Ally Bank: Best money market account.

  • SoFi: Best checking and savings combo.

  • SoFi: Best checking account overall.

  • SoFi: Best checking account for high interest.

  • SoFi: Best checking account with no monthly fee.

  • SoFi: Best checking account for overdraft fee avoidance.

  • LendingClub Bank: Best for cash back.

  • Axos Bank: Great for interest checking on up to $50,000.

  • Connexus Credit Union: Great for interest checking on up to $25,000.

  • Marcus by Goldman Sachs: Best for same-day, high-limit transfers.

  • Quontic Bank: Most domestic ATMs.

Some of our top overall institutions of 2023

Our list includes a few credit unions. Generally speaking, credit unions emphasize customer service more than banks do and pay higher interest rates. Online accounts like the ones on this list, though, tend to pay great rates, too. Read more on credit unions versus banks. Here are our picks for top overall institutions of 2023.

Ally Bank: Best bank

  • No overdraft fees; strong customer service.

  • 3.40% APY on savings.

  • Read more in our Ally Bank review.

Alliant Credit Union: Best credit union

Capital One 360: Best online banking experience

  • More than 70,000 free ATMs; offers tools such as virtual assistance and virtual card numbers; teen checking available.

  • 3.40% savings APY.

  • Read more in our Capital One 360 review.

Charles Schwab: Best for ATM access

Chase: Best for sign-up bonuses and for branch access (tie) 

  • No minimum direct deposit requirement to earn cash bonus for new checking account.

  • More than 4,700 branches in 49 states.

  • Read more in our Chase review.

Discover Bank: Best savings account

SoFi: Best for checking, high interest, overdraft fee avoidance and more

  • Up to 3.75% APY on savings balances and up to 2.50% APY on checking balances (APY is variable and subject to change).

  • No overdraft fees and no fee for overdraft coverage.

  • Read more in our SoFi review.

Wells Fargo Bank: Best for branch access (tie)

Some of our top savings accounts of 2023

You can also consider a savings account at one of these institutions, which ranked highly for their savings options — including money market accounts and CDs. These accounts offer annual percentage yields that are much higher than the national average of 0.33%. Your savings will grow faster with one of these accounts. Read more in our article about savings accounts.

Ally Bank: Best money market account

  • More than 43,000 free ATMs plus some reimbursement for out-of-network ATM fees; strong customer service.

  • 2.75% APY on all balances in the money market account.

  • Read more in our Ally review.

Capital One 360: Best online banking experience

  • More than 70,000 free ATMs; offers tools such as virtual assistance and virtual card numbers; teen checking available.

  • 3.40% savings APY.

  • Read more in our Capital One 360 review.

Discover Bank: Best savings account

Synchrony Bank: Best for CDs

  • Highly competitive CD rates.

  • Bump-up CDs and 11-month no-penalty CD available.

  • Read more in our Synchrony Bank review.

Marcus by Goldman Sachs: Best for same-day, high-limit transfers

  • Same-day online external transfers up to $125,000.

  • 3.30% APY (annual percentage yield) with $0 minimum balance to earn stated APY. Accounts must have a positive balance to remain open. APY valid as of 12/21/2022.

SoFi: Best for checking and savings combo

  • Up to 3.75% APY on savings balances.

  • Automatic savings features to help build your funds.

  • Read more in our SoFi review.

SoFi logo
Learn More

Member FDIC

SoFi Checking and Savings

SoFi logo
APY

3.75%

Min. balance for APY

$0

Marcus by Goldman Sachs logo
Learn More

Member FDIC

Marcus by Goldman Sachs Online Savings Account

Marcus by Goldman Sachs logo
APY

3.30%

Min. balance for APY

$0

» Looking for other excellent savings options? Browse our picks for best savings accounts

Some of our top checking accounts of 2023

If you’re interested in checking accounts, these providers offer perks like interest on checking balances or ATM fee reimbursements. And, crucially, they have large ATM networks and don’t charge monthly fees. Since checking accounts hold most people’s daily spending money, they should be easy to access and cheap to maintain. Read more in our article on checking accounts.

Charles Schwab Bank: Best for ATM access

SoFi: Best for high-interest checking, no monthly fee and overdraft fee avoidance

  • Up to 2.50% APY on checking balances when you meet direct deposit requirements.

  • No overdraft fees and no fee for overdraft coverage.

  • Read more in our SoFi review.

Axos Bank: Great for interest checking on up to $50,000

  • Up to 1.25% APY on checking for balances up to $50,000.

  • Unlimited ATM fee reimbursements.

  • Read more in our Axos Bank review.

Connexus Credit Union: Great for interest checking on up to $25,000

LendingClub Bank: Best for cash back

  • Unlimited 1% cash back when you meet a minimum monthly balance or direct deposit requirement.

  • Unlimited worldwide ATM fee reimbursements.

  • Read more in our LendingClub Bank review.

Quontic Bank: Most domestic ATMs 

  • More than 90,000 in-network ATMs.

  • 1.10% APY when you meet minimum debit card spending requirements.

  • Read more in our Quontic Bank review.

» For more checking options, take a look at our picks for best checking accounts

Did you have something more specific in mind? If so, check out these articles:

Compare the best savings and money market accounts

Compare the best CD accounts

Compare the best checking accounts

Compare the best banks, credit unions and cash management accounts

Compare the best bank accounts for students and kids

Summary of the best banks and credit unions of 2023

Financial institution

Best for ...

NerdWallet rating 
  • Best bank overall.

NerdWallet rating 
  • Best credit union overall.

NerdWallet rating 
  • Best bank or credit union for sign-up bonuses.

  • Best bank or credit union for branch access (tie).

NerdWallet rating 
  • Best online banking experience.

NerdWallet rating 
  • Best bank or credit union for ATM access.

NerdWallet rating 
  • Best bank or credit union for CDs.

NerdWallet rating 
  • Best bank or credit union for branch access (tie).

NerdWallet rating 
  • Best savings account.

NerdWallet rating 
  • Best money market account.

NerdWallet rating 
  • Best checking and savings combo.

  • Best checking account overall.

  • Best checking account for high interest.

  • Best checking account with no monthly fee.

  • Best checking account for overdraft fee avoidance.

NerdWallet rating 
  • Best for cash back.

NerdWallet rating 
  • Great for interest checking on up to $50,000.

NerdWallet rating 
  • Great for interest checking on up to $25,000.

Marcus by Goldman Sachs No-Penalty CD
NerdWallet rating 
  • Best for same-day, high-limit transfers.

NerdWallet rating 
  • Most domestic ATMs.

» Looking for the biggest banks in the country? See the list of largest banks in the U.S.

Understand how APY works
Find out how compounding interest works in this quick and complete guide to annual percentage yield.

We took a close look at nearly 80 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.

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