14 Best Banks in Arizona for 2024


Arizona is a great place to call home. It offers gorgeous desert landscapes, friendly people, a robust job market, and plenty of attractions. Plus, it’s on the border of California, Nevada, and New Mexico, making it an attractive state if you like to road trip.

Whether you’ve lived in the Grand Canyon state your entire life or consider yourself a transplant, you may be in search of the best banks. Fortunately, we’re here to help.

Arizona welcome sign

14 Best Banks in Arizona

We did the heavy lifting for you to create this list of the best banks in Arizona. Keep in mind that the ideal banking option depends on your unique situation, so it’s a good idea to shop around and compare the pros and cons of each bank.

1. U.S. Bank

U.S. Bank is one of the largest commercial banks in the U.S. It’s home to 62 branches in 24 different cities in Arizona.

U.S. Bank is currently welcoming new applicants with a special online offering:

  • Earn up to $700 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account, and complete qualifying activities.
  • Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC.
  • Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.

The account includes a free debit card that can be locked or unlocked if ever misplaced or stolen. There are no ATM transaction fees at U.S. Bank ATMs and no surcharge fees at over 40,000 MoneyPass® Network ATMs.

The checking account requires a $25 opening deposit and a $6.95 monthly fee. This fee can be waived for those 24 and under, 65 and over, or military members (must self-disclose).

Additionally, the fee can be waived with monthly deposits of $1,000+, an average balance of $1,500+, or holding an eligible U.S. Bank credit card. Qualifying for any Smart Rewards® tier (Primary, Plus, Premium, or Pinnacle) also waives the fee.

2. SoFi

Among the top online banks, SoFi stands out as one of the most popular. With its Checking & Savings account, customers can benefit from no monthly fees while enjoying a remarkable 4.60% APY on savings and 0.50% APY on the checking account.

Customers can reap benefits such as early direct deposit, letting them access their paycheck up to two days earlier.

Safety is a priority, with FDIC insurance coverage reaching up to $2 million. Overdraft coverage also stands available, offering up to $50 without fees, conditional upon having qualifying direct deposits.

New to SoFi? Expect a hearty welcome with bonuses ranging between $50 and $300, based on your direct deposit amount. The bank also offers accessibility to over 55,000 Allpoint® Network ATMs, underlining SoFi’s commitment to hassle-free online banking.

3. First Citizens Bank

First Citizens Bank is a family-owned bank with roots that date back to more than 120 years ago. It recently acquired CIT Bank and has physical branches in 21 states, including several in Arizona.

If you prefer to bank online, rest assured you can do so through its robust online and mobile banking services. There’s also a convenient mobile app you may use to transfer money, pay bills, make deposits, and more.

First Citizens offers a free checking account as well as two interest bearing checking accounts with debit card access. When it comes to savings, you can choose from the basic online savings account, money market account, and CD accounts.

Other product options include credit cards with rewards like cash back and travel points, mortgages, home equity loans, auto loans, small business banking, and commercial banking.

4. Chase Bank

Chase Bank is a large national bank with its main office in New York City. It has a significant presence in Arizona, boasting over 200 branches. This strong network positions it as one of the best banks in Arizona for many individuals and businesses.

The bank offers a range of services, including different types of checking and savings accounts. New customers often get welcome bonuses, and customers can benefit from access to over 16,000 ATMs and a user-friendly mobile banking app.

The app comes with features such as electronic transfers, bill pay, wire transfers, direct deposit, account alerts, and card lock.

And if help is needed, Chase Bank offers support through phone and social media, highlighting its commitment to customer service.

5. Bank of America

With a solid presence in Arizona through over 40 branch locations, Bank of America is a familiar and reliable option. It offers a rich array of services, including checking and savings accounts with specialized options for children.

Bank of America further caters to various financial needs through a range of credit cards, loans, and wealth management solutions. Business checking accounts are also available, offering a comprehensive service palette for both individual and business clients.

The bank’s CDs, ranging from seven to 37 months, require a minimum deposit of $1000.

The mobile app stands as a highlight, enabling easy management of accounts, transfers, and appointments with banking specialists.

Customer support is accessible extensively, ready to assist from 8 a.m. to 11 p.m. ET on weekdays and 8 a.m. to 8 p.m. ET during weekends, underlining Bank of America’s commitment to customer service in Arizona.

6. Arizona Bank & Trust

Arizona Bank & Trust is a notable community bank with branches strategically located throughout the Valley in cities such as Phoenix, Scottsdale, Tempe, Mesa, Chandler, and Gilbert.

The bank presents two standout checking accounts: the Platinum Checking offers a $400 bonus and a 2.00% APY on balances up to $50,000 — a lucrative offer conditioned on achieving a total of $7,500 in direct deposits within the initial 90 days.

The Free Checking with eStatements account, on the other hand, grants a $150 bonus upon receiving two direct deposits of at least $300 each.

In addition to checking accounts, Arizona Bank & Trust offers an array of financial products including savings and money market accounts, CDs.

They also provide lending services such as mortgages and personal loans, showcasing its commitment to meeting a wide range of financial needs in the Arizona community.

7. WaFd Bank

WaFd Bank is one of the smaller banks on our list and headquartered in Seattle. It has about 30 brick-and-mortar branches in Arizona as well as more than 200 branches that span eight states in the western part of the U.S.

WaFd Bank’s checking account options include the free online checking account, green checking account, and interest bearing checking account. The basic savings account comes with no monthly fee as long as you maintain a balance of over $100.

There’s also a cash back Visa credit card, complete with perks like no annual fee, a fixed interest rate, roadside assistance, and extended warranty protection on certain items.

8. Ally Bank

Ally Bank is an online bank that’s headquartered in Utah but serves customers in every state, including Arizona. If you feel comfortable doing all your banking online, Ally might be a good fit as there are no physical branches.

Since the bank has low overhead costs, you can enjoy no monthly maintenance fees, zero overdraft fees, and no minimum balance requirements. Plus, Ally offers competitive interest rates on deposit accounts and access to a large network of fee-free ATMs.

If you become an Ally customer, you can choose from an interest checking account, savings account, money market account, or CD with terms that range from three months to five years. You may manage your account online.

We can’t forget the no penalty CD, which allows you to withdraw your funds at any time without paying a penalty.

Ally also offers a robust mobile app and Ally Skill for Alexa, Amazon’s voice-activated digital assistant. Ally Skill can help you check your balances, transfer money, and hear recent transactions.

9. BMO Harris Bank

Although headquartered in Illinois, BMO Harris Bank has a significant presence in Arizona with around 45 branches. It offers a broad range of personal banking services including deposit accounts, credit cards, and loans, alongside retirement planning, and business services to cater to the diverse financial needs of its clientele.

BMO Harris Bank customers have access to over 40,000 fee-free ATMs nationwide, encouraging hassle-free banking anywhere in the country.

Savings aficionados will appreciate the competitive interest rates offered on online savings accounts, and the elimination of checking account fees for those who opt for online statements, fostering both savings and environmental sustainability.

What sets BMO Harris Bank apart is its 24/7 live phone support, a rarity in the industry, ensuring that customers can receive assistance at any hour. This feature, alongside its broad range of services, makes BMO Harris Bank one of the best banks in Arizona.

10. PNC Bank

PNC Bank is a major bank that used to operate under BBVA in Arizona. It was founded in 1845 and provides a full suite of digital banking tools and products.

In addition to the standard checking accounts, savings accounts, money market accounts, and CDs, you can count on PNC bank for credit cards, mortgages, car loans, personal loans, student loans, private banking, retirement accounts, and business banking.

While PNC does charge monthly service fees, there are opportunities to get it waived. Also, if you open a checking account, you’ll receive access to the Virtual Wallet, which includes double overdraft protection.

This means if you’re ever at risk of overdrafting your account, PNC will automatically transfer funds from your other accounts. Additionally, PNC has a handy mobile app you can use to perform your banking on the go.

11. BOK Financial

BOK Financial is based in Tulsa, Oklahoma but operates in Arizona. Its wide range of personal checking account products include the free checking account, select new checking account, premier checking account, and free student checking account.

Savings products are the youth savings account, personal savings account, money market options, IRAs, and CDs.

BOK Financial also offers credit cards, auto and home loans, and a range of services for businesses.

12. Foothills Bank

Foothills Bank, established in 1997 and headquartered in Yuma, has rapidly become one of the best banks in Arizona. It also has branches in Prescott, Kingman, Lake Havasu City, Tucson, Flagstaff, and more.

With its commitment to personalized service and community-oriented approach, Foothills Bank has managed to create a loyal customer base that values its dedication to the economic well-being of the region.

One of the key features of Foothills Bank is its comprehensive range of financial services. Catering to both individual and business clients, the bank offers an array of products, including checking and savings accounts, loans, mortgages, and credit cards.

Additionally, Foothills Bank also provides wealth management and financial planning assistance.

13. National Bank of Arizona

National Bank of Arizona (NBAZ) is a renowned local bank that has been serving the state since 1984. Headquartered in Phoenix, NBAZ operates over 50 branches across the state.

NBAZ caters to both individual and business clients, offering products such as deposit accounts, loans, mortgages, credit cards, and wealth management services.

The bank provides a robust online banking platform and mobile app, enabling customers to manage their bank accounts, transfer funds, pay bills, and utilize various financial tools with ease.

One of the hallmarks of National Bank of Arizona is its dedication to the local communities it serves. NBAZ actively supports local businesses, nonprofits, and community initiatives through sponsorships, grants, and partnerships.

14. Wells Fargo

Wells Fargo is considered one of the oldest banks in the U.S. It was founded in 1852 and has about 170 branch locations in Arizona along with a highly rated mobile app.

As a customer, you can choose from a plethora of personal bank accounts, as well as credit cards, loans, and business accounts.

While some checking accounts charge fees, you might be able to get them waived if you keep a certain amount of money in them each month. If you’re an avid traveler, you’ll be pleased to learn there are thousands of bank branches and ATMs across the U.S.

How to Choose the Best Bank in Arizona

With so many options available, finding the best banks in Arizona can feel a bit overwhelming. However, by comparing each bank and considering your needs, you will find the right one. Here are some things to consider:

  • Products: Choose a bank that offers all the products you’re seeking. These may include checking accounts, savings accounts, money market accounts, CDs, loans, investment, and retirement accounts. You’ll notice some banks offer a more extensive selection than others.
  • Rates: If saving money is a priority, interest rates are likely to be a top priority. Choose a bank that prides itself on competitive interest rates. Typically, online banks excel with rates because their overhead costs are lower.
  • Fees: Common bank fees include monthly maintenance fees, service fees, and overdraft fees. If possible, go with a bank with minimal fees or one that makes it easy to weave them. Fees can take away from your financial goals so it’s best to avoid or minimize them if you can.
  • Locations: You may prefer to bank in-person. If this is the case, opt for a full service community bank with brick-and-mortar branches near your home or workplace. Otherwise, you may have to perform all your banking online.
  • Digital tools: If you prefer digital banking from an online bank or brick and mortar bank, look for digital tools like online account access, mobile apps, and virtual assistants. Fortunately, most banks offer them these days.
  • Customer service: Customer service is crucial, especially if you plan to bank there for a long time. Make sure the bank you go with offers reliable and prompt customer service. This may be via phone, email, live chat, or social media.
  • Reputation: Typically, larger banks have excellent reputations, especially if they’ve been around for a while. However, you should read reviews and ratings before you commit to any bank.

Bottom Line

Arizona’s banking options are diverse so you’re bound to find one or a few that work for you. You can always test out a bank and move on to a different option if you need to. Also, don’t forget that you may have multiple acorns at several banks as long as you can manage them well. Good luck with your search for the best bank in Arizona!

Frequently Asked Questions

What is the best bank in Arizona?

There is no hard and fast answer to this question. The best bank in Arizona is based on your particular needs. If you prefer an online banking experience, for example, SoFi or Ally Bank will likely be a great fit. However, if in-person customer support is important to you, you may be better off with Chase Bank, WaFd Bank, or BMO Harris as these financial institutions have brick-and-mortar locations throughout the state.

What are some national banks in Arizona?

Arizona has plenty of large, national banks you can explore. These include but are not limited to Chase, U.S. Bank, Wells Fargo, and PNC Bank. Remember, while national banks typically offer a wide range of products, you may not be able to receive personalized customer service like you would if you chose a regional bank or local bank.

What are the largest banks in Arizona?

Compared to all the banks in the state, Chase has the largest physical presence, with more than 200 locations so it’s a great option if your priority is easy branch access and in-person service. Wells Fargo has over 170 locations, making it the second-largest bank in Arizona.

MidFirst Bank is one of the largest privately owned banks in Arizona, and also in the U.S.

How many banks are in Arizona?

There are about 100 banks in the Grand Canyon state. However, you can also choose from online banks, which service customers in all states, including Arizona. Just make sure you’re okay with online and mobile banking.

What are the best smaller banks in Arizona?

If you like the idea of banking with a smaller financial institution, rest assured there are plenty of options in Arizona. Several examples include Scottsdale Community Bank, Republic Bank of Arizona, Canyon Community Bank, National Bank of Arizona, Alliance Bank, and West Valley National Bank.

Are Arizona banks FDIC insured?

Most local banks and large banks in Arizona are insured by the Federal Deposit Insurance Corporation. This can give you the peace of mind of knowing the funds in your personal account or business account will be protected in the event of a bank failure. Arizona credit unions are usually insured by the National Credit Union Administration.

Anna Baluch
Meet the author

Anna Baluch is a freelance personal finance writer from Cleveland, OH. She enjoys helping people make smart financial decisions.