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.
1. Bank of the West
This bank has branches all over the United States, it is a good option for multiple account types: savings, checking, money market or CD accounts. If you need a loan such as credit cards, personal loan, mortgages, auto loans and you can also take loan for construction.
Savings accounts require a $25 minimum to open and come with a monthly fee of $5.. Checking accounts don’t have a minimum deposit and come with a $10 fee that can be avoid by making a deposit during a statement cycle.
There is no fee for the checkbook, you get a debit card from the bank which can be use to withdraw cash for free from Bank of the West ATMs. Customers will also enjoy Bank of the West’s online and mobile banking.
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.
3. 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
4. Wells Fargo
Beyond bank accounts, wells fargo offer services like credit cards and auto loans, wealth management services .The bank offer multiple savings and checking accounts like retirement accounts and certificates of deposit (CDs)
5. 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.
6. 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 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.
8. Bank of America
This is the second largest bank in America,they have more than 4,600 retail centers 16,000 ATMs and has many more than 100 branches in California.
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
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:
12. City National Bank
13. First Republic Bank
14. West America Bank