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Best Banks and Credit Unions in Florida 2018

July 30, 2018
Banking, Banks & Credit Unions, Checking Accounts, Savings Accounts
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We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

If you make your home in the Sunshine State, lots of people are 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:

Financial InstitutionSavings rateMinimum deposit to open
Suncoast Credit Union0.15%$5
Ally Bank1.80%$0
First Citizens Bank0.03%$100
Discover Bank1.75%$0
Capital One 360 Bank1.00%$0
Chase Bank0.01%$25

Top choices in Florida

Suncoast Credit Union

at Suncoast Credit Union,

Federally insured by the NCUA

Suncoast Credit Union

Overall credit union rating:
Ally Bank

at Ally Bank,

Member, FDIC

Ally Bank

Overall bank rating:
First Citizens Bank

at First Citizens Bank,

Member, FDIC

First Citizens Bank

Discover

at Discover,

Member, FDIC

Discover Bank

Overall bank rating:

Capital One 360 Bank

Overall bank rating:
Chase

at Chase,

Member, FDIC

Chase Bank

Overall bank rating:

Suncoast Credit Union

NerdWallet has rated this credit union:
Suncoast Credit Union

at Suncoast Credit Union,

Federally insured by the NCUA

Accounts: Suncoast’s checking account has no monthly fees and comes with a rewards program that benefits members and, through the organization’s associated charitable giving arm, local schools. The credit union’s interest rates on share certificates, though not at the top of the market, are above the national average for banks.

Access: 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 is a Co-op credit union, meaning members have fee-free access to thousands of ATMs across the country. (Learn more at our Suncoast review.)

» Want to learn what makes a good bank? Learn how to choose a bank

Ally Bank

NerdWallet has rated this bank:
Ally Bank

at Ally Bank,

Member, FDIC

Accounts: Ally’s checking account pays interest, and its savings account rates are among the best in the industry. Neither charges a monthly fee. The bank also offers a variety of types of CDs, all of which have competitive rates.

Access: Ally is an online bank without branches, but it does give users plenty of ways to reach it, including a 24/7 phone line and live chat. Account holders can also use more than 55,000 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 Ally review.)

First Citizens Bank

First Citizens Bank

at First Citizens Bank,

Member, FDIC

Accounts: Interest rates on First Citizens’ certificates of deposit aren’t anything to write home about, but the bank also offers checking and savings accounts with easy-to-avoid monthly fees and low or no minimum opening deposits.

Access: First Citizens has branches in Florida, along with Georgia, North Carolina, South Carolina and Tennessee, among other states. Its website is easy to navigate, and the mobile app lets you deposit checks and provides other money-management tools. Customer support is available by phone or email or in person.

Discover Bank

NerdWallet has rated this bank:
Discover

at Discover,

Member, FDIC

Accounts: Discover’s Cashback Checking 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 both earn impressive yields, and there’s no required minimum deposit for savings. To open a CD, you’ll have to deposit $2,500.

Access: Discover is another online bank with 24-hour-a-day customer service via phone. You can also use social media to get in touch with a representative. Need cash? Discover partners with two ATM networks so customers can withdraw fee-free at more than 60,000 ATMs in the U.S. (Get the details at our Discover review.)

Capital One 360 Bank

NerdWallet has rated this bank:

Accounts: Capital One 360’s 360 Checking and 360 Savings are both free, interest-bearing accounts, and 360 Checking has multiple free overdraft management options. The bank’s CD rates are impressive, and unlike many financial institutions, Capital One 360 doesn’t require a minimum deposit to open one.

Access: 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 four cafes in the Miami, Delray Beach and West Palm Beach areas. (Read more at our Capital One 360 review.)

» If you’re not finding what you’re looking for, compare checking accounts across the country

Chase

NerdWallet has rated this bank:
Chase

at Chase,

Member, FDIC

Accounts: APYs on savings accounts and certificates of deposit are low, but Chase makes up for it with sign-up bonuses for new customers on both its savings and checking accounts. The Chase Total Checking® account has a monthly fee, but it’s fairly easy to avoid with a minimum balance or by linking direct deposits to your account.

Access: With many branches and ATMs nationwide and a strong presence in Florida, Chase is a good option for those who want to keep their cash at a national bank. Also, Chase’s mobile apps are highly rated, and customer service is accessible through a variety of channels, including by phone, email, regular mail or Twitter, or in person. (Check out the details on our Chase review.)

Best Banks and Credit Unions in Florida for 2018

  • Suncoast Credit Union: Use your debit card to earn rewards and benefit local charities
  • Ally Bank: Online bank with market-leading rates
  • First Citizens Bank: Checking and savings with manageable minimum deposits
  • Discover Bank: Online bank with massive ATM network
  • Capital One 360 Bank: Great rates and a flexible overdraft policy
  • Chase Bank: Excellent sign-up bonuses

 

» Want to see more banks with sign-up offers? See our list of best bank bonuses


METHODOLOGY

For this review, we only considered 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: Alaska USA Federal Credit Union, Alliant Credit Union, Ally Bank, America First Credit Union, American Express, Aspiration, Associated Bank, Bank5 Connect, BankDirect, Bank of America, Bank of Internet, Bank of the West, Barclays, BB&T, BBVA Compass, Boeing Employees Credit Union, BMO Harris, Capital One 360, Charles Schwab Bank, Chase, Chime, CIT, Citibank, Citizens Bank, Comerica Bank, Commerce Bank, Connexus Credit Union, Consumers Credit Union, Discover Bank, TIAA Bank, Fidelity, Fifth Third Bank, First Citizens Bank, First National Bank, First Tech Federal Credit Union, GoBank, Golden 1 Credit Union, GS Bank, HSBC Bank USA, Huntington Bank, KeyBank, M&T Bank, Navy Federal Credit Union, Pentagon Federal Credit Union, PNC, PurePoint Financial, Qapital, Radius Bank, Regions Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Simple, Star One Credit Union, State Employees’ Credit Union of North Carolina, State Farm Bank, Suncoast Credit Union, SunTrust Bank, Synchrony Bank, TCF Bank, TD Bank, Union Bank, UFB Direct, USAA, U.S. Bank, Varo, Wells Fargo, Woodforest National Bank, and Zions Bank.

How we rate banks and credit unions

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