5 Best Banks and Credit Unions in Florida

Alice HolbrookMar 9, 2021

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If you live in the Sunshine State, people might be jealous of you. They might be thinking about the weather, but Florida residents also have access to many excellent banks and credit unions.

Here are a few favorites.

» Check out some of nationwide

Checking and savings options: Suncoast’s basic checking account has no monthly fees, pays a little bit of interest and comes with a rewards program that benefits local schools. The credit union’s interest rates on share certificates are good for a brick-and-mortar institution.

Eligibility, ATMs and branches: To become a Suncoast member, you have to live in a Florida county near the state’s Gulf of Mexico shoreline, be an alum of Florida College or be related to a Suncoast member. Suncoast has dozens of offices in Florida and members have fee-free access to thousands of ATMs across the country through the CO-OP program. (Learn more at our .)

» Want to learn what makes a good bank? Learn

Checking and savings options: Ally's checking account pays interest, and its savings account rates are highly competitive. Neither charges a monthly fee. The bank also offers a variety of CDs with competitive rates.

Eligibility, ATMs and branches: Ally is an online bank without branches, but users can reach it via a 24/7 phone line and live chat. Account holders can also use over 43,000 Allpoint ATMs nationwide for free — and they're entitled to $10 per month in ATM fee reimbursements. (Find out if it meets your needs at our .)

» Get high rates on long-term savings with this month.

Checking and savings options: Discover's Cashback Debit account earns 1% cash back on up to $3,000 in debit card spending each month, and there's no monthly fee. Its savings account and CDs all earn impressive yields, and there's no required minimum deposit for savings. To open a CD, you'll have to deposit $2,500.

Eligibility, ATMs and branches: Discover is another online bank with 24-hour-a-day customer service via phone. You can also get in touch using social media. Discover customers can withdraw cash fee-free at over 60,000 ATMs in the U.S. (Get the details at our .)

» Find out what your savings could be earning with

Checking and savings options: Capital One 360's 360 Checking and 360 Performance Savings are both free, interest-bearing accounts, and 360 Checking has multiple free overdraft management options. The bank's CD rates are decent, and there's no minimum deposit to open one.

Eligibility, ATMs and branches: Capital One 360 is an online bank affiliated with Capital One. Capital One doesn't have any branches in the state, but Florida customers can bank online and visit seven Capital One Cafés on the southeast Florida coast. Even non-customers can use these spaces, which have free financial education events and coaching, as well as coffee, snacks and basic banking services. (Read more at .)

» If you're not finding what you're looking for,

Checking and savings options: APYs on savings accounts and certificates of deposit are low, but Chase makes up for it with a sign-up bonus for new customers on checking accounts. The Chase Total Checking® and Chase Savings℠ accounts have monthly fees that are fairly easy to avoid. Chase offers high-quality web and app experiences plus nationwide physical locations.

Eligibility, ATMs and branches: With a strong presence in Florida, Chase is a good option for those who want to bank at a branch. It also has 16,000 nationwide ATMs, popular mobile apps, and customer service by phone, email, regular mail or Twitter. (Check out the details at our .)

For this review, we considered only institutions with a retail presence in Florida and nationwide online institutions, taken from the same list in our standard methodology:

We took a close look at 70 financial institutions, including the largest U.S. banks based on assets, debit card volume, internet search traffic and other factors; the nation's largest credit unions, based on deposits as well as broad-based membership requirements; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage rates, minimum balances, fees, digital experience and more.

Financial institutions surveyed include: , , , , , , , , , , , , , , , , , , , , , , , , , Comerica Bank, , , , , E-Trade, , , , , , , , , , , LendingClub, , , , , , , , Salem Five Direct, , , , , , , , , , , , , , , , , , Woodforest Bank and Zions Bank.

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