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6 Best Banks in Florida

May 1, 2019
Banking, Banks & Credit Unions, Checking Accounts, Savings Accounts
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

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.

Best banks and credit unions in Florida

  • Suncoast Credit Union.
  • Ally Bank.
  • First Citizens Bank.
  • Discover Bank.
  • Capital One 360 Bank.
  • Chase Bank.


» Check out some of NerdWallet’s best banks and credit unions nationwide

Top choices in Florida

Suncoast Credit Union

4.0 NerdWallet rating
    • Use your debit card to benefit local charities.
    • 0.15% APY on savings with a $5 minimum balance.
    • Learn more.

Ally Bank

4.5 NerdWallet rating
    • Online bank with market-leading rates.
    • 2.10% APY on savings with a $0 minimum balance.
    • Learn more.
First Citizens Bank

at First Citizens Bank,

Member, FDIC

First Citizens Bank

NerdWallet has not yet rated this bank.

    • Free checking and savings accounts.
    • 0.03% APY on savings with a $100 minimum balance.
    • Learn more.
Discover

at Discover,

Member, FDIC

Discover Bank

4.5 NerdWallet rating
    • Online bank with massive ATM network.
    • 2.10% APY on savings with a $0 minimum balance.
    • Learn more.

Capital One 360 Bank

4.5 NerdWallet rating
    • Solid rates and a flexible overdraft policy.
    • 1.00% APY on savings with a $0 minimum balance.
    • Learn more.
Chase

at Chase,

Member, FDIC

Chase Bank

3.5 NerdWallet rating
    • Excellent sign-up bonuses on checking.
    • Low savings APYs.
    • Learn more.

Suncoast Credit Union

4.0 NerdWallet rating

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 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

4.5 NerdWallet rating

Checking and savings options: 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 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 Ally review.)

First Citizens Bank

NerdWallet has not yet rated this bank.
First Citizens Bank

at First Citizens Bank,

Member, FDIC

Checking and savings options: Interest rates on First Citizens’ certificates of deposit are nothing special, but the bank also offers checking and savings accounts without monthly fees.

Eligibility, ATMs and branches: 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 (7 a.m.-11 p.m. ET every day) or email or in person.

Discover Bank

4.5 NerdWallet rating
Discover

at Discover,

Member, FDIC

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 Discover review.)

» Find out what your savings could be earning with NerdWallet’s best high-yield online savings accounts

Capital One 360 Bank

4.5 NerdWallet rating

Checking and savings options: 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 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 five 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 our Capital One 360 review.)

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

Chase Bank

3.5 NerdWallet rating
Chase

at Chase,

Member, FDIC

Checking and savings options: APYs on savings accounts and certificates of deposit are low, but Chase makes up for it with sign-up bonuses for new customers on savings and checking accounts. The Chase Total Checking® account has a monthly fee, but it’s fairly easy to avoid.

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, or in person. (Check out the details at our Chase review.)

Financial InstitutionSavings rateMinimum deposit to open
Suncoast Credit Union0.15%$5
Ally Bank2.10%$0
First Citizens Bank0.03%$100
Discover Bank2.10%$0
Capital One 360 Bank1.00%$0
Chase Bank0.01% (effective 6/14/19; rates are variable and subject to change)$0

 

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


METHODOLOGY

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: 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, 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 BankFidelity, 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,  TIAA BankUnion 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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