The best big banks of 2024
Key takeaways
The best big banks all had an iOS mobile app rating of at least 4.8.
The absolute largest banks – based on branch locations – didn't make Bankrate's best bank list. Bank of America, the third largest bank based on branches, was the only bank in the top three in total U.S. locations on the list.
The nation’s best big banks typically provide customers with everything they need to manage their finances, whether in a branch, at home or on the road. Those features include easy access to ATMs, flexible customer-service hours, highly ranked mobile apps and other resources to help customers handle nearly every banking situation.
To determine the best big banks, Bankrate analyzed minimum deposit requirements, monthly service fees, overdraft fees, CD offerings, savings yields, ATM access and other criteria.
Big banks are sometimes known for offering bank account bonuses, which are useful if you’re trying to build an emergency fund. But they generally don’t offer the absolute top savings and CD yields.
The banks that make Bankate’s Best Big Banks of 2024 all have a mobile app rating of 4.8 or higher on iOS devices, an increasingly important factor as online-only banks and mobile apps become an integral part of consumers’ daily banking habits.
Capital One
Capital One is Bankrate’s best big bank for the seventh straight year. Capital One’s competitive yields rival savings accounts and CDs offered by online banks. For a big bank, its 360 Checking Account has many features that Bankrate looks for: It doesn’t require a minimum to open the account; doesn’t charge a maintenance fee; pays a higher yield than the typical big bank on savings, checking and some CD terms; and offers customers ample ATM access.
Capital One operates more than 300 branches and cafés.
Capital One also offers customers access to direct deposits up to two days early and has eliminated overdraft fees.
Read our full review:Capital One
Citibank
Citibank, the banking arm of Citigroup, the fourth-largest bank in the U.S. based on assets, offers a competitive yield on its Citi Accelerate High Yield Savings account and no minimum deposit is required to open it. The account is available in most, but not all, U.S. states. Other standout features include a highly-rated mobile app and ample branch access.
Read our full review:Citibank
PNC Bank
PNC closed on its purchase of BBVA in June 2021, giving PNC about 600 additional branches in seven states. It now has around 2,400 branches. PNC earned Bankrate’s third-highest score for big banks, standing out for its digital tools, high-yield savings account and avoidable fees. PNC also recently earned the title of Most Trusted Bank in the 2023 Bankrate Awards.
Read our full review:PNC Bank
Bank of America
Bank of America has nearly 3,800 locations in 38 states and Washington, D.C. That gives Bank of America the third most number of branches in the U.S. Around 68 million consumers and small business customers bank at Bank of America.
Read our full review:Bank of America
TD Bank
TD Bank offers helpful digital tools and a large branch footprint along the East Coast. Its Convenience Checking account requires that you keep only $100 in the account. The low minimum balance requirement gives consumers without direct deposit access to an account at a big bank without paying a monthly service fee.
Read our full review:TD Bank
Pros and cons of large national banks
Pros
Most people might have one of the largest banks in America near them.
These banks might have convenient locations near you.
Large national banks generally have most of the traditional products and services that you’d expect a bank to offer. These include checking and savings accounts, safe deposit boxes, mortgages and other banking products and services. Some online FDIC-insured banks don’t offer checking accounts, for instance.
Cons
The largest banks usually don’t offer the highest yielding rates available. These are typically offered by online-only FDIC-insured banks.
Big banks typically require a direct deposit to avoid a monthly service fee. Or they might have higher minimum balance requirements than FDIC-insured online banks.
Sometimes online banks might actually have more ATMs in their network than a brick-and-mortar bank. (Capital One and PNC Bank are two exceptions to this.)