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. 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.
10 Best Banks in Arizona
1. 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 banking services. There’s also a convenient mobile app you may use to transfer funds, 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.
2. U.S. Bank
U.S. Bank is one of the largest commercial banks in the U.S. It’s home to branches in 28 states, and 62 of those branches are in 24 different cities in Arizona. Its product lineup includes two checking accounts, one of which is the popular U.S. Bank Smartly™ Checking that currently offers a $600 sign-up bonus.
U.S. Bank also offers a standard savings account, a money market account, and certificates of deposit (CD). In addition to these personal banking services, U.S. Bank provides credit cards, personal loans, home loans, vehicle loans, wealth management services, small business services, and retirement accounts.
While the full-service bank does offer in-person banking, many of its transactions are performed digitally or via the mobile banking app, which comes with the U.S. Bank Smart Assistant and is designed to assist you with simple banking tasks. The app also allows for mobile check deposit, customized alerts, Zelle, and online bill pay.
3. Chase Bank
Chase Bank is a large U.S. bank with headquarters in New York City. It has over 200 branches in Arizona and countless branches throughout the rest of the country. Just like most national banks, Chase offers a full lineup of banking services, such as checking accounts, savings accounts, and other options for individuals and businesses.
Other perks include bank bonuses for new customers, access to more than 16,000 ATMs, and a mobile banking app with features like electronic transfers, bill pay, wire transfers, direct deposit, account alerts, and card lock. When it comes to support, Chase helps its customers through phone calls or social media.
4. Bank of America
Bank of America is another well-known bank. Even though it has a widespread presence in the Eastern U.S., there are over 40 branch locations in Arizona. The bank offers checking accounts, savings accounts, including a few for children, and CDs with terms ranging from seven months to 37 months that require a $1000 minimum deposit.
Additionally, the bank provides account holders a variety of credit cards, loans, investment and retirement accounts, wealth management, and business checking accounts. The mobile app is a great perk as you can use it to manage your bank accounts, transfer money, pay bills, deposit checks, schedule appointments with banking specialists, and more. Customer support is available Monday through Friday, 8 a.m. to 11 p.m. ET, and Saturday and Sunday, 8 a.m. to 8 p.m. ET.
5. 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 savings accounts you might want to explore are the basic savings account with no monthly fee as long as you maintain a balance of over $100. The money market account has no monthly fee for balances of more than $1,000, and CDs that require an initial deposit of $1,000.
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.
6. 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 access 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 funds, and hear recent transactions.
7. BMO Harris
BMO Harris Bank is based in Illinois but has about 45 branches in Arizona. The bank specializes in a variety of personal banking products, such as deposit accounts, credit cards, and loans. It also offers retirement planning, wealth management, and business services.
As a customer, you can enjoy access to more than 40,000 fee-free ATMs nationwide. The online savings account comes with a competitive interest rate and there are no checking account fees if you enroll in online statements instead of paper statements. If you have a question or concern, you can enjoy 24/7 live phone support, which is a unique perk most banks don’t offer.
8. 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. In addition, PNC has a handy mobile app you can use to perform your banking on the go.
9. BOK Financial
BOK Financial is based in Tulsa, Oklahoma but operates in Arizona. Its wide range of 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 account, IRAs, and CDs. In addition, BOK Financial offers credit cards, home loans, auto loans, and business banking services.
10. Foothills Bank
Foothills Bank, established in 1997 and headquartered in Yuma, has rapidly become one of the best banking institutions in Arizona. 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. In addition to these traditional banking services, Foothills Bank also provides wealth management and financial planning assistance.
11. National Bank of Arizona
National Bank of Arizona (NBAZ) is a renowned banking institution that has been serving the state since 1984. Headquartered in Phoenix, NBAZ operates over 50 branches across the state.
National Bank of Arizona caters to both individual and business clients, offering products such as checking and savings 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 accounts, transfer funds, pay bills, and access 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.
12. 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 banking services, such as checking accounts, savings accounts, CDs, credit cards, loans, and business accounts.
While some deposit 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 Find the Best Bank in Arizona
With such a plethora of banks in Arizona, you might wonder which one is right for you. If you compare these features, you’re sure to hone in on the best option.
- Products: Choose a bank that offers all the products you’re seeking. These may include checking accounts, savings accounts, money market accounts, CDs, loans, and wealth management accounts. You’ll notice some banks offer a more extensive selection than others.
- Rates: If saving money is a priority, interest rates are likely top of mind. Choose a bank that prides itself on competitive interest rates. Typically, online banks excel with rates because their overhead costs are lower.
- Fees: Common banking 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 banking option, like 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 digital banking assistants. Fortunately, most banks offer them these days.
- Customer service: Customer service is crucial, especially if you plan to bank with a certain financial institution for a while. 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
Fortunately, 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, Ally Bank is likely a great fit. However, if in-person banking is important to you, you may be better off with 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, Wells Fargo, PNC Bank, and U.S. Bank. Keep in mind, while national banks typically offer a wide range of products, you might not be able to receive personalized customer service like you would if you chose a regional bank or local bank.
What is the largest bank in Arizona?
Compared to all the banks in the state, Wells Fargo has the largest physical presence. There are more than 170 locations so it’s a good fit if your priority is easy branch access and in-person service.
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 banking and mobile banking.
What are some examples of banks in Phoenix?
Since Phoenix is one of the largest cities in Arizona, it’s no surprise there are ample banking and credit union options. Several traditional banks you’ll find in the area include Bank of America, Bank of the West, Bell State Bank & Trust, and Sunflower Bank.
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, MidFirst Bank National Bank of Arizona, Alliance Bank, and West Valley National Bank.
Are Arizona banks FDIC insured?
Fortunately, 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.
