16 Best Banks in Florida for 2024

Banking

The Sunshine State is a great place to call home. Whether you’re an individual or small business owner, rest assured there are many banks available to help you meet your financial goals.

While some banks have branch locations in Miami, Tampa, Jacksonville, Orlando, and other parts of the state, others are online-only, meaning you’ll need to use an online portal or mobile banking app to manage your accounts.

Welcome to Florida

16 Best Banks in Florida

We’ve done all the research and compiled this list of the best banks in Florida so you can make the most informed decision for your unique situation.

1. Chime®

As an online-only bank, Chime® serves customers throughout the US, including Florida, providing an array of benefits owing to its reduced overhead compared to traditional banks. These benefits include no monthly fees, and no minimum balance or minimum deposit requirements.

With the Chime Checking account, you can enjoy early direct deposit2, automated savings tools, free debit card replacement, and access to over 60,000 fee-free1 ATMs across the county. Account holders also receive a Visa debit card, with no fee for replacement if lost.

If you opt for the Chime high yield savings account8, you’ll lock in a competitive interest rate3. Chime also has a feature called SpotMe® that allows you to overdraft5 up to $200 without fees. You’ll also enjoy it’s early direct deposit feature, which allows you to get your paycheck up to two days early.

2. SoFi

Established as an industry leader, SoFi offers online banking services that resonate well with the residents of Florida. It offers an impressive 4.60% APY on savings, and 0.50% APY on checking balances. SoFi also ensures their customers’ deposits are secure with FDIC insurance up to a considerable $2 million.

A key attraction of SoFi is its commitment to a fee-free banking experience, featuring no account, overdraft, or monthly fees, in addition to access to more than 55,000 ATMs.

Customers can also benefit from early paycheck access and the potential to earn up to $300 with direct deposit. With the added advantage of up to 15% cash back at local establishments using the SoFi debit card, SoFi truly earns its recognition as one of the best banks in Florida.

3. Capital One

Capital One is a national bank that’s known for its flagship 360 Checking account. With a 360 Checking account, you can enjoy an attractive interest rate, access to more than 70,000 fee-free ATMs across the U.S., and 24/7 mobile banking.

You also won’t be on the hook for any monthly service fees and Capital One will automatically decline any transitions that overdraw your balance for no extra charge.

Even though Capital One does not have any physical branches in Florida, you can apply for and manage your bank accounts online. Other benefits of Capital One include early paycheck, which can allow you to receive your incoming funds up to two days early, free financial coaching sessions, and a well-designed mobile app.

4. First Citizens Bank

Established in North Carolina in 1889, First Citizens Bank has grown to house 31 branches predominantly along the scenic coast of Florida. These branches, coupled with a network of ATMs, are strategically positioned in notable locations, including Boca Raton, Coral Gables, and Coconut Grove.

First Citizens Bank prides itself on offering a rich assortment of financial solutions to cater to a broad spectrum of customer needs. Whether you’re looking for personal banking services such as savings and checking accounts, or exploring credit card options, mortgages, First Citizens Bank has you covered.

But their offerings don’t stop at individual needs; they extend into comprehensive business and commercial services. Furthermore, they stand as a trusted partner in wealth management, guiding you in retirement planning and investments, ensuring a secure financial future.

5. TD Bank

TD Bank operates in an impressive 125 cities and towns across Florida, with branch locations in key cities such as Jacksonville, Miami, Tampa, Orlando, and St. Petersburg. One of its attractive offerings is the TD Convenience Checking℠, a favored choice for everyday banking needs.

Maintaining a modest minimum daily balance of just $100 allows customers to avoid the $15 monthly maintenance fee. Additionally, young adults between the ages of 17 and 23 can enjoy the perk of having no monthly fees.

Customers utilizing this checking account have at their disposal a robust mobile app, encompassing the TD Bank Mobile Deposit feature. This grants them access to their account, day or night, and the benefit of services like Bill Pay and Zelle.

Beyond checking, TD Bank entices with rate discounts on home equity and personal loans, enhancing its broad spectrum of financial offerings that also include savings accounts, CDs, and credit cards.

6. Huntington Bank

Huntington Bank has been around since 1866 and primarily services Southwest Florida. Its solo Florida branch can be found in Naples but you can bank from anywhere, thanks to its robust mobile app.

With Asterisk-Free Checking, there’s no minimum opening deposit and no monthly service fee. Huntington’s checking accounts come with many benefits, such as 24-hour grace overdraft fee relief, platinum debit cards, mobile pay, and early pay. You can make deposits to them directly or through an ATM or mobile device.

If you’re looking to boost your savings, you may choose from several money market accounts, IRAs and other retirement accounts, and certificates of deposit. Huntington provides a variety of services for small business owners, including business checking accounts, business credit cards, insurance products, and more.

7. Ally Bank

Ally Bank is an online bank with rates that are about 10 times the national average. Even though there are no Ally branches in Florida, it’s a solid pick if you’d like your money to grow quickly. Unlike most brick-and-mortar banks in the Sunshine State, Ally doesn’t charge a monthly service fee or impose minimum balance requirements.

You can open an Ally account with any deposit amount. In addition to a savings account, you can open an interest-bearing checking account and credit cards with rewards like cash back and travel points. We can’t forget Ally’s retirement and investment services, which include self-directed trading, robo portfolios, IRAs, stocks, commission-free ETFs, and even cryptocurrency.

8. Regions Bank

Regions Bank is a regional bank with more than 300 branches and 500 ATMs in Florida. If you’re an avid traveler, rest accrued the bank also has many locations in the Midwest, South, and Texas.

Regions stands out from other, larger financial institutions for its checking account rewards program and LifeGreen Savings account, which is free of monthly maintenance fees.

Additionally, Regions Bank provides CDs with durations varying from seven days to 72 months. They also impress with a comprehensive mobile app and round-the-clock customer service via a secure online messaging system.

9. Bank of America

Bank of America is a national bank with nearly 500 branches across Florida and plenty of ATMs available nationwide. Its handy mobile app facilitates seamless transactions on the go, including cashing checks and paying bills.

Potential customers can choose from three different checking accounts, with minimum deposits ranging from $25 to $100, and monthly maintenance fees between $0 and $25 — though it’s worth noting there are options to waive them. The accounts also offer several ways to avoid overdraft fees.

The bank offers a diverse selection of products such as savings accounts, credit cards, and a variety of loan options including home and auto loans.

10. Chase Bank

Chase Bank is a part of JPMorgan Chase and has more than 400 branches in Florida. With Chase, you can expect a large ATM network of over 16,000 ATMs across the country and a number of online and mobile banking tools. If you decide to become a Chase customer, you’ll have access to two savings accounts: the Chase Savings account and the Chase Premier Savings account.

While Chase Savings comes with a low monthly fee, the Chase Premier Savings is a solid pick if you’re looking for a competitive rate on a large balance. When it comes to checking, Chase offers several options, like the Chase Total Checking account and the Chase Sapphire Checking account with perks like attractive interest rates and free ATM usage.

Note that the Chase Sapphire Checking account is only available for Sapphire members with an average balance of $75,000 average balance.

11. Fifth Third Bank

Fifth Third Bank is a regional bank that was recognized by J.D. Power for the great banking experience it provides in Florida. It has numerous branches in Bradenton, Lakeland, Sarasota, Fort Myers, Naples, Apopka, and other cities throughout the state.

You can open a checking or online savings account without having to worry about an opening deposit requirement and won’t be charged a monthly fee for any checking account.

Fifth Third Bank also offers an extensive ATM network, which gives you access to more than 50,000 ATMs across the country.

Additionally, if you get paid via direct deposit in a Fifth Third account, you may access your paycheck up to two days early. For questions and concerns, you can reach out to Fifth Third’s customer service team 6-days a week.

12. EverBank

EverBank is the largest regional bank in the state. You can find its financial centers in Jacksonville, Clearwater, Boca Raton, Coral Gables, Fort Lauderdale, and Fort Myers.

In addition to a personalized banking experience, this Florida bank provides a checking account featuring low fees and no transaction limits, a free savings account with higher rates, and three different types of CDs.

Plus, the bank is digitally savvy and provides online tools so you can keep tabs on your accounts, set a budget and savings goals, transfer money, pay bills, and send money with Zelle. If you’re interested in investing, EverBank will give you the opportunity to invest in precious metals and foreign currencies.

13. Raymond James Bank

Raymond James Bank is an affiliate of Raymond James, which is a financial company with headquarters and one branch location in St. Petersburg. Through its Enhanced Savings Program, you’ll be able to earn interest on certain cash if you link your brokerage account to a high-yield Raymond James bank account.

You can also receive yields that are higher than traditional checking or savings options without bank fees or holding periods. Raymond James also offers a plethora of mortgage products, such as fixed rate and adjustable rate mortgages, interest-only and jumbo mortgages, pledged securities and construction mortgages, and home equity lines.

14. PNC Bank

PNC Bank is one of the largest traditional banks in the U.S. with nearly 200 branches in Florida. It offers the PNC Standard Savings account, a children’s savings account, and Virtual Wallet, which pairs a traditional checking and savings account. If you decide on the Virtual Wallet, you can enjoy a generous sign-up bonus.

When it comes to CDs, you can choose from a plethora of options. Additionally, the bank goes the extra mile with free budgeting tools and competitive interest rates for account holders that qualify. As an added bonus, PNC Bank has a reputation for stellar customer service.

15. Discover Bank

While primarily renowned for its credit cards, Discover Bank extends much beyond to offer a variety of banking products for Florida residents. As an online bank, it ensures convenience with perks such as cash back on debit card purchases, and the absence of monthly maintenance and overdraft fees.

Although it lacks physical branches, the bank facilitates easy banking through its user-friendly mobile app and free access to over 60,000 ATMs nationwide. Apart from its celebrated credit cards which come laden with diverse rewards, Discover caters to various financial needs through its offerings, including checking and savings accounts, personal and student loans, home equity loans, and options for mortgage refinancing.

16. Wells Fargo

Wells Fargo is a major financial institution with more than 600 branches and thousands of ATMs throughout Florida. At Wells Fargo, you’ll find a full suite of products and services, such as checking accounts, savings accounts, credit cards, personal loans, and mortgage loans.

You can choose from a basic, no-frills free checking account or opt for an interest checking account or a checking account for a teen or young adult. There are also a few saving account options, like a goal-based savings account and a high-interest savings account.

While you can visit a local branch if you prefer an in-person banking experience, you can also utilize online and mobile banking. In addition, Wells Fargo includes other conveniences like Zelle money transfers and online bill pay.

​​Types of Florida Banks

Choosing the best bank in Florida depends on what you personally prefer. You have several options, including big national banks, regional banks, smaller community banks, online banks, and credit unions. Here, we break down what each one offers:

National Banks

National banks are common in larger cities throughout Florida. If you’re looking for a wide range of services, you’re sure to find them at national banks, such as Chase Bank, PNC Bank, Wells Fargo, and Truist Bank.

Regional Banks

Regional banks have branches in certain regions of the U.S. In most cases, these banks are mid-sized and offer a good mix of personal and business banking products. A few examples of regional banks in the state include Fifth Third Bank, PNC Bank, and EverBank.

Community Banks

Community banks are smaller and only serve people in certain areas. They focus on giving personal service and helping out in their local community. A couple of examples of community banks in the state are Capital City Bank, Seacoast Bank, and Community Bank of the South.

Online Banks

Online banks don’t have physical locations in Florida but serve individuals and businesses with online banking services. Since they have less overhead costs than brick-and-mortar banks, online banks tend to offer more competitive interest rates and minimal to no fees. If you’re comfortable with the internet or mobile apps, online banks like Ally Bank, Axos Bank, Chime, SoFi, and CIT Bank can be a great choice.

Credit Unions

Credit unions operate with a member-focused philosophy, often offering competitive interest rates and lower fees compared to other financial institutions. They emphasize personalized service and often engage in community outreach efforts, fostering a closer relationship with the members. Examples of popular credit unions in Florida include SunCoast Credit Union, VyStar Credit Union, and Space Coast Credit Union.

How to Choose the Best Bank in Florida

Identifying the best banks in Florida involves considering various factors that pertain to your individual financial needs and habits. Here we lay down some critical aspects to keep in mind:

  • Financial products and services: It is important to opt for a bank that caters to your individual financial needs, that offers a diverse range of products and services, including personal and business banking, credit cards, and mortgage loans.
  • Fees and charges: Carefully scrutinize the fees and charges applicable for various services. Ideally, choose a bank with low or no fees for basic services, to minimize your expenses.
  • Branch and ATM accessibility: Consider the geographical distribution of the bank’s branches and ATMs in Florida, and whether they are conveniently located in proximity to your residence or workplace.
  • Customer service: Pay attention to the quality of customer service the bank offers. This involves considering their responsiveness, the availability of personalized services, and feedback from other customers.
  • Digital capabilities: Assess the usability of the bank’s mobile app and online banking platform to ensure they offer a secure and convenient user experience.
  • Community engagement and reputation: Research the bank’s involvement in community initiatives and its overall reputation in the Florida market to ensure that your choice aligns with a bank having a positive impact in the region.

Remember, the best bank for you should align well with your financial habits and goals, providing you with the optimal tools and services to manage your finances efficiently.

Bottom Line

In our exploration of the best banks in Florida, it’s evident that there are a plethora of options suited to various financial needs. From prominent national banks to localized community banks, online platforms, and credit unions, there’s something for everyone.

When choosing a bank in Florida, consider factors like branch accessibility, product lines, and associated fees. By understanding your priorities, be it advanced banking technology, community ties, or stellar customer service, you can find the right fit. Good luck in your search for the best bank in Florida.

Frequently Asked Questions

What are the largest banks in Florida?

The largest banks in the Sunshine State include Bank of America, Wells Fargo, and Fifth Third Bank. These banks have many branches throughout the state.

What is the best bank for in person service?

Florida offers many great options if you prefer an in-person banking experience. You might want to consider Regions Bank, EverBank, or ​​Raymond James Bank.

How do I open a bank account in Florida?

Most banks and credit unions allow you to open a deposit account online, from the comfort of your own home or office. Be prepared to make a minimum opening deposit and provide basic personal information, like your name and Social Security number.

What is the best local bank in Florida?

There are many local banks in the Sunshine State that each come with their own benefits and drawbacks. Several options you might want to explore include Florida Shores Bank, Seaside Bank and Trust, and One Florida Bank.

What is the best credit union in Florida?

Some of the best credit unions in Florida, based on their reputation for excellent customer service, a wide range of financial products, and community involvement, include:

  • Suncoast Credit Union: Appreciated for low fees, competitive rates, and a community-centric approach.
  • VyStar Credit Union: Known for excellent customer service and a comprehensive line of products, serving a vast region in Florida.
  • Fairwinds Credit Union: Located in Orlando, it is famed for exceptional local service and a variety of products to cater to member needs.
  • Space Coast Credit Union: Holds a strong footing in Florida by providing competitive rates and a diverse line-up of products to satisfy a wide membership base.
  • Grow Financial Federal Credit Union: Preferred for its modern banking solutions and a robust online platform.

Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A.; Members FDIC. Credit Builder card issued by Stride Bank, N.A.

1. Out-of-network ATM withdrawal fees may apply with Chime except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.

2. Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. Chime generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

3. The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is accurate as of May, 22, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.

5. Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each at least once every 34 days. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.

8. A Chime Checking Account is required to be eligible for a Savings Account.

Anna Baluch
Meet the author

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