List of Best Banks in California

Last Updated on May 28, 2024 by admin

It is an axiom nowadays that no bank fails for lack of capital; unprofitable lending is always the underlying cause When accessing the best banks in California, we are considering, the bank reputation, asset size, number of branches, annual percentage yield (APY).

“In financial services, if you want to be the best in the industry, you first have to be the best in risk management and credit quality. It’s the foundation for every other measure of success.  We are also going to consider  best bank in California using  savings and checking accounts yardstick as a measurement base on their minimum balance requirements, annual percentage yields (APYs), fee structures and overall ease of accessibility.

The list includes banks in Los Angeles, San Francisco, San Diego, and other areas in Southern and Northern California.Since there are currently more than 240 banks actively operating across Southern and Northern California, with almost 7,200 branch banking locations.

The best bank for you in California will depend on your specific needs and preferences. However, here are some of the top contenders with a wide range of options to suit different financial goals:

Large National Banks:

• Bank of America:Boasts a vast network of branches and ATMs throughout California, making it convenient for those who prefer in-person banking. Offers various banking products and services, including checking and savings accounts, credit cards, loans, and investment options.

Chase Bank:Another major national bank with a strong presence in California. Known for its comprehensive range of financial products, innovative digital banking tools, and extensive ATM network.

Wells Fargo:Headquartered in San Francisco, Wells Fargo has a long history in California and a vast network of branches. Offers a wide array of banking products, but has faced some controversies in recent years.

Regional Banks:

• Banc of California:A major player in the California banking scene, Banc of California offers a variety of banking services, including personal and business banking, loans, and wealth management.

Bank of the West:A subsidiary of BNP Paribas, Bank of the West caters to individuals and businesses in California and other western states. Known for its commitment to sustainability and community development.

Ally Bank:

This bank offer high interest rates to checking customers that depends on whether or not your minimum daily balance is over $15,000 or not.Ally Bank  have ATM locator, digital account statements, mobile check deposit, automatic bill pay and more within the confines its app.

East West Bank

As a multinational bank with branches in Hong Kong, Shanghai, Shantou, Shenzhen and representative offices in Beijing, Chongqing, Guangzhou, and Xiamen. They offer Mortgage loan Assistance, savings and checking accounts, credit and debit cards.

They also provide international trading investment services. You need a minimum $100 deposit to open an account with them

Also Read: List of Banks in United states of America,Banks in USA

 CIT Bank

CIT is an online- and mobile-only bank, it stands for Commercial Investment Trust,Though it provides all type of banking and financial services. CIT bank’s mobile app is available for both Apple and Android devices. CIT will allow you to remotely deposit checks through the app as well.they have the Premier High-Yield Savings account.

 Citi Bank

Citi bank has many branches in California as well several branches across the globe including Africa countries. You can Open citi bank checking account with no minimum opening deposit, Pay your bills online

Customers can also Deposit checks from their  mobile device, Settle up with friends using Citi with Zelle a fast and easy way to send and receive money also Easily move money between your Citi and non-Citi accounts

U.S. Bank

U.S. Bank has over 650 branches in California, the bank offer wide range of financial products which include savings and checking accounts, you can open money market accounts, credit cards and a number of loans.

Zions Bank

The interest rates for savings accounts are slightly higher than other large banks. Accounts require just $50 to open and come with a $3 monthly service fee but you can get waliver if you can maintain balance of at least $200 or if you transfer at least $25 from a Zions Bank checking account at least once per month.

They offer Young Savers account available for adolescents and for parents who want to start saving for their children.They also offer money market account

Comerica Bank

The bank offer savings and checking account, loan, mortgages, insurance and investments.It’s head quartered is located in Dallas, Texas. It has total assets of more than $71 billion.

Other best California  bank on the list include:

City National Bank
First Republic Bank
West America Bank

FAQ on Best Banks in California:

1. What are the best banks in California overall?

Some of the top-rated banks in California include Bank of America, Chase Bank, Wells Fargo, Banc of California, and Bank of the West. These banks offer a wide range of services, including checking and savings accounts, credit cards, loans, and investment options.

2. Which banks are best for students in California?

Bank of America and Chase Bank offer student-specific checking accounts with benefits like no monthly fees and easy money management tools.

3. Are there any good online banks for Californians?

Yes, Ally Bank and Capital One 360 are popular online banks offering competitive interest rates, no monthly fees, and user-friendly digital platforms.

4. Which banks have the largest ATM network in California?

Bank of America and Chase Bank have the most extensive ATM networks in California, making it convenient to access your money.

5. Are there any credit unions that are highly rated in California?

Golden 1 Credit Union and SchoolsFirst Federal Credit Union are among the best credit unions in California, offering competitive rates and a range of services to their members.

6. What factors should I consider when choosing a bank in California?

Consider the following factors:

• Fees: Monthly maintenance fees, overdraft fees, ATM fees
• Interest rates: Compare interest rates for checking and savings accounts
• Branch and ATM availability: Choose a bank with convenient locations near you
• Online and mobile banking features: Look for user-friendly digital tools and features
• Customer service: Research the bank’s reputation for customer service
• Additional services: Check if the bank offers other services you might need, such as loans or investment options

7. Which bank is the best for small businesses in California?

Many of the large national banks like Bank of America, Chase, and Wells Fargo offer specific accounts and services tailored to small businesses. Banc of California and Bank of the West also have strong offerings for business banking.

8. Are there any banks in California that cater to specific communities?

Yes, some banks and credit unions specialize in serving particular communities, such as specific professions or cultural groups. Research online or ask for recommendations to find a bank that aligns with your needs.