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5 Best Banks and Credit Unions in Florida

Apr 1, 2022

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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.

» Or, check out some of NerdWallet's best banks and credit unions nationwide

Why you can trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.

Best banks and credit unions in Florida

  • Suncoast Credit Union.

  • Ally Bank.

  • Discover Bank.

  • Capital One 360 Bank.

  • Chase Bank.

5 Best Banks and Credit Unions in Florida

Suncoast Credit Union

4.0

NerdWallet rating 
Suncoast Credit Union

Why we like it

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 many times higher than what you’ll find at a big bank.

Eligibility, ATMs and branches: To become a Suncoast member, you have to live in a certain Florida county, 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 network.

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Ally Bank

5.0

NerdWallet rating 
Ally Bank

Why we like it

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.

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Discover Bank

5.0

NerdWallet rating 
Discover Bank

Why we like it

Checking and savings options: Discover's Cashback Debit account is not currently available to new customers. When it's available, it earns 1% cash back on up to $3,000 in debit card purchases 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; that’s fairly high compared with some of the best CDs available that require $0, $500 or $1,000 as a minimum deposit.

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 Twitter. Discover customers can withdraw cash fee-free at over 60,000 ATMs in the U.S.

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Capital One

4.5

NerdWallet rating 
Capital One

Why we like it

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 highly competitive, 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 located around the state. Even non-customers can use these spaces, which have free Wi-Fi and areas to work, as well as coffee, snacks and employees who can answer questions.

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Chase
Learn more

at Chase, Member FDIC

Chase

3.5

NerdWallet rating 
Chase
Learn more

at Chase, Member FDIC


Why we like it

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 has 16,000 nationwide ATMs and more than 4,700 branches, well-rated mobile apps, and customer service by phone, secure messaging within the app, regular mail or Twitter.

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Savings info for the best banks and credit unions in Florida

Financial Institution

Savings rate

Minimum deposit to open

Suncoast Credit Union

0.05%.

$5.

Ally Bank

3.00%.

$0.

Discover Bank

3.00%.

$0.

Capital One 360 Bank

3.00%.

$0.

Chase Bank

0.01% effective as of 07/02/2022. Interest rates are variable and subject to change.

$0.

Free cash with a new account
Find out which banks are offering cash rewards when you open a new checking or savings account.

Last updated on April 1, 2022

Methodology

We took a close look at over 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.

Financial institutions and providers surveyed are: Affirm, Alaska USA Federal Credit Union, Alliant Credit Union, Ally Bank, America First Credit Union, American Express National Bank, Axos Bank, Bank of America, Bank of the West, Bank5 Connect, Bank7, Barclays, BB&T (now Truist), BMO Harris, Boeing Employees Credit Union, BrioDirect, Capital One, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, Comenity Direct, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Discover Bank, E-Trade, Fifth Third Bank, First Foundation, First Tech Federal Credit Union, FNBO Direct, GO2bank, Golden 1 Credit Union, HSBC Bank, Huntington Bank, Industrial Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Monifi, Nationwide (by Axos), Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Quontic Bank, Redneck Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, Scarlet, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, SunTrust Bank (now Truist), Synchrony Bank, TAB Bank, TD Bank, TIAA Bank, Truist Bank, U.S. Bank, UFB Direct, Union Bank, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank. How we rate banks and credit unions.

To recap our selections...

NerdWallet's 5 Best Banks and Credit Unions in Florida