13 Best Banks in Alabama for 2023

Plus you’ll get access to $30,000 free ATMs across Alabama and the U.S. as well as international branches in places like Cuba, Korea, Italy, and Japan. Other benefits of Navy Federal Credit Union include loan options, like mortgage banking services and vehicle loans as well as a convenient mobile app for banking on the go. Navy Federal is one of the top credit unions in the state.

There are no monthly fees with SoFi, and it offers no-fee overdraft coverage up to $50 with qualifying direct deposits. Additionally, customers can receive their paycheck two days early and are eligible for up to 15% cash back when using their SoFi debit card at local businesses.

Enjoy free access to over 55,000 ATMs worldwide thanks to the Allpoint® Network. Plus, SoFi safeguards your deposits with robust FDIC insurance up to $2M, offering added peace of mind.

First Community Bank of Central Alabama’s lineup of products includes a free checking account, an interest checking account, several savings accounts, mortgage loans, wealth management accounts, and business accounts for small businesses. Most accounts require a minimum deposit of $100 and monthly fees can be easy to wave as long as you maintain a minimum balance of $2,500. The bank also offers free cashier’s checks.

Additionally, CIT Bank is a great place for mortgages and small business banking. The bank also offers attractive interest rates and no monthly fees. Keep in mind, however, that there are no brick-and-mortar branches in Alabama so you’ll have to do all your banking online or via the mobile banking app.

Rest assured, customer service is available 24/7 through the live chat feature. You can also speak to a customer service representative Monday through Friday, 9 a.m. to 9 p.m. ET, or Saturday from 10 a.m. to 6 p.m. ET.

Since Ally Bank has minimal overhead costs, it doesn’t charge a monthly maintenance fee or overdraft fees. Plus you there are no minimum balance requirements so you can open an account with any dollar amount. You may also download Ally Bank’s highly rated mobile app so you can manage recurring transfers, enroll in online bill pay, deposit checks, and send money with Zelle.

There’s also a Virtual Student Wallet, which you may use to manage all your accounts in one place. In addition, PNC Bank will give you a grace period before you have to pay overdraft fees. Note that there is one PNC branch in Selma, Alabama but online and mobile banking is available. You may also access more than 60,000 fee-free ATMs throughout the U.S.

In addition, Regions Bank also offers CDs with flexible terms ranging from 7 to 72 days and minimum deposits of $500. We can’t forget InvestPath, a digital investing platform that provides access to Regional’s skilled team of financial advisors.

You can also take advantage of Regions My GreenInsights, which is a tool to help you set up a budget, monitor your account balances, track spending, and create savings or loan payoff goals. You can also choose from a wide range of credit cards with perks like cash back, travel points, gift cards, and merchandise.

If you enroll in direct deposits, you can enjoy cash rewards. While the money market account has a competitive interest rate, it does require a high minimum deposit of $2,000. Depending on your situation, you might be better off with a longer-term CD that lets you maximize your interest earnings.

This commercial bank offers just about every financial service you can think of, such as checking accounts, savings accounts, certificates of deposit (CDs), credit cards, personal loans, and wealth management services. Business checking accounts and business loans are available as well.

While some accounts do come with monthly maintenance fees, they’re easy to waive. All you have to do is meet certain minimum balance requirements. Wells Fargo bank also offers other perks, like bonuses for opening certain accounts, credit score monitoring, and mobile banking apps with easy transfers, mobile deposit, account alerts, and more.

The myEasyAdvisor program is an automated program that offers personalized financial advice to help you improve your finances. You can find local branches and ATMs in four different regions in Alabama, including the Central region, Coosa Valley region, Metro Central region, and the Tennessee Valley region.

By offering a wide range of services, including checking, savings and money market accounts, CDs, mortgages, personal loans, and credit cards, Redstone aims to satisfy all of its members’ financial needs under one roof. The Brighter Day savings account offers an attractive 3.03% annual percentage yield (APY) on balances up to $2,500, and 0.45% APY on balances over $2,500.

Additionally, Redstone’s Visa Signature credit card provides generous cash back rewards, with up to 5% on restaurant and gas purchases, 3% on groceries, discount stores, wholesale clubs, utilities, phone and streaming services, and 1.5% on all other purchases.

The bank also offers business banking and bank properties for sale. One of its most noteworthy perks is Overdraft Privilege, which allows you to overdraft your account up to a certain amount so you can cover a transaction.

Stepping up its game in the digital age, Bryant Bank has incorporated online and mobile banking into its services, granting you seamless access to your accounts anytime, anywhere. A crowd-pleaser among its product lineup is the Basic Savings Account which welcomes you with a modest opening deposit of just $100, coupled with the liberty to perform six free withdrawals monthly.

In addition, Bryant Bank houses an array of financial tools, encompassing diverse checking accounts, CDs, money market accounts, and a range of lending options including personal loans and credit cards, designed to meet your varied financial needs.