The MyBankTracker Editorial Staff analyzed and compared the top financial institutions and products in the U.S. to award winners for providing consumers with the best options for their money.



Best Accounts

Best Checking Accounts of 2020

Bank Account Best Feature Axos Bank Rewards Checking﻿ Earn a market-leading interest rate. Capital One 360 Checking No account fees charged at all. Schwab High Yield Investor Checking Unlimited ATM fee rebates with no foreign transaction fees. Alliant Credit Union High-Rate Checking No monthly fees and ATM fee refunds available. Chase Total Checking Widespread branch and ATM access.

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Best Savings Accounts of 2020

Bank Account Best Feature Marcus Online Savings No transaction fees. BrioDirect Savings Earn a market-leading savings rate. Discover Online Savings Consistently competitive savings rates.

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Best Money Market Accounts of 2020

Bank Account Best Feature BMO Harris Platinum Money Market Market-leading money market rate. Discover Money Market Account No fees at all. State Farm Money Market Account Unlimited ATM rebates when you have direct deposit.

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Best CDs of 2020

Bank Best Feature Synchrony Bank Market-leading CD rates. Ally Bank Competitive low early withdrawal penalties. Capital One 360 Market-leading CD rates.

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Loans

Best Personal Loans of 2020

Loan Provider Best Feature SoFi Borrow up to $100,000 with no fees. Earnest Analyzes borrower finances for lowest rates possible. PNC Bank Very low borrowing minimum.

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Credit Cards

Best Travel Credit Cards of 2020

Credit Card Best Feature Chase Sapphire Reserve $300 annual travel statement credit. Platinum Card from American Express Multiple credits toward various travel and shopping expenses. Citi Prestige $250 annual travel statement credit and complimentary hotel nights on qualifying bookings.

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Best Cash Back Credit Cards of 2020

Credit Card Best Feature Citi Double Cash Effective 2% cash back on all spending. American Express Blue Cash Preferred 6% cash back at US supermarkets Discover it 5% cash back on bonus categories that change quarterly.

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Best Rewards Credit Cards of 2020

Credit Card Best Feature Chase Sapphire Preferred Points worth 25% more when redeemed for travel booked via Chase. Venture Rewards from Capital One Redeem miles for any travel, retroactively. Chase Freedom 5% cash back on bonus categories that change quarterly.

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Best Low Interest Credit Cards of 2020

Credit Card Best Feature Simmons Visa Low ongoing APR Chase Slate 0% APR introductory offer on purchases and balance transfers. First Progress Platinum Prestige MasterCard Secured Credit Card Great for those with bad credit.

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Best Balance Transfer Credit Cards of 2020

Credit Card Best Feature Chase Slate No balance transfer fee in the first 60 days. Citi Simplicity 0% APR on balance transfers for 21 months. Amex Everyday Credit Card No balance transfer fee in the first 60 days.

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Best Secured Credit Cards of 2020

Credit Card Best Feature Discover it Secured No annual fee. Capital One Secured MasterCard Low security deposit to get started. Wells Fargo Secured Visa Credit line (security deposit) maximum of $10,000.

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Best Student Credit Cards of 2020

Credit Card Best Feature Discover it Student Cash Back Earn 5% cash back on different categories each quarter. Bank of America Cash Rewards for Students Earn up to 3% cash back on popular spending categories. Journey Student Credit Card No foreign transaction fees.

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Investing

Best Brokerages of 2020

Brokerage Best Feature Vanguard Extremely low expense ratios. Fidelity Select index funds have zero expense ratios. Schwab Superior customer service satisfaction.

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Best Robo-Advisors of 2020

Robo-Advisor Best Feature Betterment $0 minimum investment. Wealthfront Can integrate with your banks accounts. Schwab Intelligent Portfolios Low overall fee policy.

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Best Finance Apps

Best Investing Apps of 2020

App Best Feature Robinhood No trading fees. Acorns Automatically invests what you can afford. StashInvest Ease of entry into the world of investing.

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Best Everyday Money Management Apps of 2020

App Best Feature Mint Syncs all your financial accounts in one place. Venmo Pay people easily and quickly. Personal Capital In-depth investment and retirement planning tools.

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Best Apps for Filing Taxes of 2020

App Best Feature TurboTax Intuitive and easy-to-navigate mobile apps H&R Block TaxPrep Take pictures of documents for easy info entry. TaxAct Express Cheaper than the competitors. TaxSlayer Option to deduct filing fees from tax refund.

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Best Banks

Best National Banks of 2020

Best Pick Chase More than 5,300 branches and 15,000 ATMs. Top-notch credit cards. Runner-up TD Bank﻿ Extended business hours for convenient branch access. Runner-up PNC Bank Bank accounts come with great money management features.

Why Chase won: More than 5,300 branches and 15,000 ATMs. Top-notch credit cards.



Chase stands out because of its full range of deposit accounts, lucrative credit cards, and extensive financial services and investment offerings. Also, it has a massive branch and ATM network and feature-rich mobile apps.



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Best Online Banks of 2020

Best Pick Axos Bank Free rewards checking account with a high interest rate with unlimited domestic ATM fee refunds and no overdraft fees. Runner-up Radius Bank Unlimited ATM fee refunds and overdraft line of credit. Runner-up Capital One 360 No fees at all.

Why Axos Bank won: Free rewards checking account with a high interest rate with unlimited domestic ATM fee refunds and no overdraft fees.



Axos Bank provides a comprehensive range of deposit and loan products that beat the competition from brick-and-mortar banks -- thanks to extremely low fees and strong interest rates.



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Best Northeast Regional Banks of 2020

Best pick Popular Bank Strong physical presence in the Northeast. Runner-up Santander Bank More than 675 branches and 2,000 ATMs in the region Runner-up KeyBank Strong financial health

Best South Regional Banks of 2020

Best Pick BBVA Free checking accounts and great savings rates. Runner-up Arvest Bank Branches are open for extended hours Runner-up Woodforest National Bank Basic checking with a low monthly minimum balance requirement

Best West Regional Banks of 2020

Best Pick Bank of the West Massive branch presence on the West coast. Runner-up BBVA Free checking with personalization options Runner-up Umpqua Bank ATM refunds on its low-cost basic checking account

Best Midwest Regional Banks of 2020

Best Pick Huntington Bank Free checking with great overdraft policy. Runner-up First Midwest Bank Access to more than 55,000 surcharge-free ATMs Runner-up TCF National Bank Focus on financial wellness and literacy

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Best Credit Unions of 2020

Best Pick Alliant Credit Union Very easy for anyone to become a member. Runner-up PenFed Credit Union﻿ Credit cards with high rewards rates Runner-up Consumers Credit Union Free rewards checking account

Why Alliant Credit Union won: Easy-to-join credit union with low fees and competitive interest rates.



Alliant is a credit union that is available to everyone nationwide because of its lenient membership eligibility requirements. Moreover, it has a very friendly fee policy with great rates across the board.



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How We Picked Accounts

The overall rank for each financial account, product, or institution within a specific category is dependent on how many days in the previous quarter that each candidate was ranked among the top 10.



Best Checking Accounts



The best checking accounts were selected from roughly 50 popular checking accounts available based on widespread ATM access, branch locations, interest rates, perks, bonuses, fees and the ease of waiving them.



Best Savings Accounts



We analyzed nearly 250 savings accounts from to chose the best of them based on the consistency of high-interest rates, fees, minimum balance requirements, and account features.



Best Money Market Accounts



We researched more than 65 money market accounts and we picked the best ones based on the consistency of high-interest rates, fees, minimum balance requirements, debit card access, check-writing ability, and other features.



Best CD Accounts



We examined around 155 CDs and reviewed them based on the interest rates, available CD maturity terms, minimum balance requirements, and early withdrawal penalties.



Best Personal Loans



We chose the best personal loans among 20 major U.S.-based lenders that offered unsecured loans nationwide. The key factors in the selection process included interest rates, repayment periods, minimum and maximum borrowing amounts, origination and processing fees, prepayment penalties, and loan disbursement speed.



Best Brokerages



The best brokerages were chosen among the 20 largest U.S.-based brokerages based on account fees, investment options (diversity of options and their expense ratios, if any), trading fees, research tools, and online/mobile account management.



How We Picked Banks

How did we decide what makes a great bank? We considered more than 5,000 banks, credit unions and their accounts for this guide.

The Best National Bank category includes banks or credit unions with 1,000 or more branches.

The Best Regional Bank category includes banks or credit unions with fewer than 1,000 branches.

The Best Online Bank category includes online-only banks that operate less than 10 domestic retail locations.

The overall rank for each institution within each category was dependent on how many days in the quarter the institution's score was among the top 10.

On the surface, choosing a bank seem simple, but there are a number of things you need to pay attention to when picking a bank and we track it for you:

ATM Fees

It may come as a surprise to you, but this is one of the top money-draining factors. You may pay from as little as $0.99 cents and as much as $5.00 per withdrawal when using an ATM that's out of the bank's network. On top of that, the owner or operator of the out-of-network ATM could impose a surcharge too. Here are the fees from the top national banks:

Out-of-Network ATM Fees at the Top U.S. Banks

Bank Out-of-Network Withdrawal Fee* Foreign Exchange Fee Foreign Withdrawal Fee Bank of America $2.50



fee waived for: no accounts 3% $5 Wells Fargo $2.50 (balance inquiry fee is $2.00)



fee waived for: Portfolio Checking accounts, the first transaction for Preferred Checking accounts, & the first 4 transactions when enrolled in Military Banking program 3% $5 Chase $2.50



fee waived for: Chase Premier Platinum Checking, Chase Premier Savings, & the first 4 transactions for Chase Premier Plus Checking 3% $5 (balance inquiry fee is $2.50) Citibank $2.50



fee waived for: Citigold and Citi Priority members, if monthly balance requirements are met for all members, & if first listed account owner is 62+ for Basic Banking members 3% $5 U.S. Bank $2.50



fee waived for: Platinum Checking accounts & the first 2 transactions for Gold Checking 2% for U.S. dollars and 3% for international currency $2.50 PNC Bank $3



fee waived for: Performance Select Checking accounts & first 2 transactions for Performance Checking 3% $5 Capital One None



fee waived for: no accounts 3% $2 TD Bank $3



fee waived for: TD Relationship Checking accounts, TD Premier Checking, TD Preferred Savings accounts, Private Tiered Checking, & TD Private Tiered Savings None $3 BB&T $3



fee waived for: BB&T Elite Work Checking accounts, BB&T Wealth Vantage accounts, & the first 10 transactions for BB&T Private Vantage, the first 8 for BB&T Asset Management accounts, the first 4 for Elite Gold accounts, & the first 2 for BB&T Student Banking 3% $5 SunTrust $3



fee waived for: Signature Advantage Checking accounts & the first 2 transactions for Select Checking 3% $5 Citizens Bank $3



fee waived for: the first 4 transactions for all accounts 2.8% or 3%, depending on whether transaction is made in U.S. dollars or a foreign currency $3 Fifth Third Bank $2.75



fee waived for: the first 10 transactions Military Checking accounts & the first 5 for Student Checking accounts 3.2% (3% for transaction + .2% for currency conversion) $5 KeyBank $2.50



fee waived for: Key Privilege Select Checking accounts & reimbursement up to $6/month for Key Advantage Checking accounts, Key Privilege Checking accounts, & Key Student Checking accounts 2% $5 Regions Bank $2.50



fee waived for: the first 2 transactions for Preferred Checking accounts & the first 2 transactions if you provide your Military ID for any Regions Checking accounts 3% $5 M&T Bank $3



fee waived for: no accounts $0.50 or 3% of the U.S. dollar amount, whichever is greater, of any Visa transaction $5 or 3% of the U.S. dollar amount, whichever is greater, of the transaction Comerica Bank $2.50



fee waived for: no accounts 3% $5 HSBC Bank $2.50



fee waived for: no accounts 3% $2.50 BBVA Compass $3



fee waived for: option to pay $5 extra to have fee waived, plus up to 4 rebates of ATM fees charged by other banks 1% of transaction amount at BBVA ATM and 3% of transaction amount at non-BBVA ATM $3 Santander $3 (student value checking is $2)



fee waived for: Santander Premier Plus Checking accounts & Santander Select Checking accounts 3% when you use your ATM card and 4% when you use your debit card $6 BMO Harris Bank $2.50



fee waived for: accounts with a college student member & Premier accounts, plus will rebate up to $25 in fees charged by other banks ATM's 3% $3

Minimum Balance Requirements

After opening an account with a bank that is offering promotional rates, customers forget to check for qualification conditions during the promotion or conversion fees or minimum balances after the promotion ends. You may be offered an excellent rate but high transaction fees negate the benefit you are receiving. Always confirm the total cost of banking not just one part. Also, make sure that when you open an account with a minimum balance restriction that you are prepared to satisfy that obligation to avoid monthly maintenance fees.

Basic Checking Account Fees at Top Banks

Relationship Banking

Banks may offer what’s called “Relationship Banking”. This is a type of banking where they encourage customers to hold several different types of accounts, such as checking, credit card accounts, CD’s, Money Market, etc., by offering attractive rates, savings plans and package transaction fees for a portfolio of services. These plans may allow customers to combine account balances to avoid maintenance charges or offer better rates and benefits. It is important to compare plans with more than one bank. Also, it may be more beneficial to hold individual accounts with different banks to maximize savings that combined offer better rates and fees than a single bank offering.

Interest Rates

Many deposit accounts offered by banks will pay interest on customer balances. They include savings accounts, money market accounts, certificates of deposit (CDs), and even some checking accounts. Banks use customer balances to offer loans that produce profit for them. In turn, the banks pay interest on customer deposits.

Not surprisingly, you'd want to earn the highest interest rate possible -- often denoted by the annual percentage yield (APY).

The APY means the percent return that you'll get on your balance every year.

Large national banks that operate physical branches and ATM networks are less likely to provide extremely high APYs on their bank accounts.

Online banks tend to offer higher APYs because they don't have to pay the costs -- such as real estates, utilities, and employee salaries -- of running brick and mortar locations.

Furthermore, you'll find that online bank accounts will generally come with lower and fewer account fees, which just means more money in your pocket again.

Special Accounts

We investigate whether a bank offers special accounts.

Many banks offer special accounts for senior citizens, teens, and children with reasonable APY rates, no minimum balances, and no fees.

There are also Christmas/holiday accounts, vacations accounts, military accounts, and health benefits accounts to look into.

Fees for Special Services

Before you sign up with a bank, it’s important to consider whether you’ll need to get printed copies of canceled checks or if you will be writing many checks.

Most banks now destroy the original canceled check and keep records digitally. If you need to retrieve these, some banks may charge as much as $5 per copy.

If you need to write many checks, it may be worth looking into the bank’s online banking options.

Most banks will give you a certain number of checkbooks when you open an account, but customers will have to purchase subsequent checks.

It may be cheaper to view canceled checks online and to print checks directly from a printer.

Customers have to be wary of overdraft fees and protection options. It’s important to check the individual bank’s terms of the agreement for overdraft protection.

Some are offering a line of credit feature, which offers rates high or lower than overdraft protection.

There can also be additional fees for using the protection if you bounce a check. It’s important to find out how much it costs for this protection and the options the bank offers to use these services.

Direct Deposits

Because of the cost savings achieved by banks through direct deposit transactions, some banks will offer incentives for customers to use direct deposit. They may offer reduced or waived maintenance fees or free ATM usage among other things.

Charges Per Transaction

Besides a monthly maintenance fee, your bank may charge you a fee for individual transactions such as check writing, transfers between accounts, checking balances, and using ATM’s.

These can add up significantly per month. Also, remember that just because an account is offered as “Free Checking”, it may not be completely free from fees above certain levels or it may be conditionally free on maintaining a minimum account balance.

Online Banking

Good online banking features are becoming more and more important for discerning customers these days.

It saves on time, money, and on paper. However, your bank may charge you a monthly fee for these services, although many banks offer these for free. Also, verify that these services are being offered from a secure site.

There are great opportunities to save and get great rates through virtual online banks. These banks can offer customers some advantages in lower fees or better rates, however, it’s important to evaluate how convenient or cost-effective these are if you need to conduct physical transactions.

Also, make sure these online banks are FDIC-insured or member of the FDIC.

This means that your deposits are insured by the FDIC. Some overseas banks may not be able to offer you this coverage.

There also may be some restrictions on how much of your deposit is insured if your online bank actually has an FDIC-insured parent bank.

Promotions & Teaser Rates

Customers can benefit from looking for banking promotions. Banks run different types of promotions for different types of account year-round.

They are a great way to get started with any type of account. Banks will sometimes offer higher rates, free features, discounts, waived fees, free gifts, cash, etc.

We make sure to read the fine print and track what fees or features will come into play once the promotion period ends.

Bank Accessibility

We track locations, extended hours, local, national or international branches and online capabilities that are also considerations when selecting the right bank.

How to Choose the Best Bank for Your Needs

The most important thing for a prospective customer is to do your homework. You should not just compare different banks, but also different types of account products offered by each bank.

Do this, and you’re bound to get a great deal, or at least be far more educated and conversant in negotiating through the hundreds of options that banks offer.

When you’re shopping for a new bank, make sure you understand a few things before stepping into the bank around the corner from your home.

You should consider whether you are willing to pay higher fees for the convenience of the location, or if you are prepared to make a little extra travel or go with an online bank to eliminate the fees.