Georgia offers an affordable cost of living, top-notch schools and universities, and ample attractions, like the World of Coca-Cola, Forsyth Park, and Atlanta Botanical Garden. It’s also home to a diverse selection of reputable, member FDIC banks for individuals and small business owners.
No matter what your financial needs may be, you’re sure to find a good fit in the Peach State.
14 Best Banks in Georgia
We’ve made finding the best banks in Georgia effortless with our comprehensive list, so let’s dive straight into the options.
1. SoFi
SoFi is a popular choice for Georgia residents looking for an online-only bank. It offers great benefits with its Checking & Savings account.
2. First Citizens Bank
A part of the First Citizens BancShares family, First Citizens Bank emerges as one of the best banks in Georgia with a well-established presence, boasting 56 branches across the state.
3. Upgrade
Upgrade is a standout choice among online banks in Georgia, especially appealing to those seeking innovative banking options.
4. Renasant Bank
Renasant Bank is based in Mississippi and has many branches in Georgia. It’s one of the top banks that don’t use ChexSystems when you apply for an account.
5. United Community Bank
Based in Blairsville, United Community Bank is a regional bank with branch locations throughout Georgia, Alabama, Florida, Tennessee, South Carolina, and North Carolina. It’s insured by the Federal Deposit Insurance Corporation or FDIC and has been around since 1950.
6. Ally Bank
Ally Bank is a digital bank with a reputation for industry leading interest rates and no monthly fees. While it doesn’t have a physical presence in Georgia, you can open and manage your accounts through Ally’s intuitive online and mobile banking tools.
7. Ameris Bank
Ameris Bank is a regional full-service bank with branches in cities like Atlanta, Tucker, Woodstock, Marietta, and Oakwood.
8. Bank of America
Bank of America is a well-known leader in the banking industry. It has over 70 branches in various Georgia cities. From checking accounts, savings accounts, and credit cards to auto and home loans, and investing products, Bank of America offers it all.
9. Community Bank of Georgia
Based in Baxley, Community Bank of Georgia is a locally owned and operated bank with 24/7 ATM access. It aims to develop long-term relationships with account holders while offering a full suite of products and services.
10. Chase Bank
The consumer banking arm of JPMorgan Chase, Chase is the largest national bank in the U.S. with a widespread presence in Atlanta. If you decide to open a deposit account at Chase with eligible Chase checking accounts, there’s a good chance you’ll qualify for a generous sign-up bonus.
11. Morris Bank
Many residents believe Morris Bank is the best local bank. It has branches in Georgia cities like Dublin, Gray, and Warner Robins. Regardless of which checking account you choose, you’ll enjoy access to free online banking, remote deposit services, online bill pay, and mobile banking.
12. Fifth Third Bank
Fifth Third Bank operates around 30 branches in Georgia, spanning cities like Alpharetta, Atlanta, Augusta, Marietta, and Lawrenceville.
13. Truist Bank
Truist has physical locations in Georgia cities like Atlanta, Brunswick, Cartersville, and Pooler. Formerly known as BB&T, it offers a variety of personal and business banking products. You can select from five checking accounts and two savings accounts.
14. Wells Fargo
Wells Fargo is a large national bank with more than 200 branches and over 600 ATMs in the Peach State. Just like most traditional banks, it offers a wide variety of options to its customers.
Types of Georgia Banks
In Georgia, various types of banks cater to the diverse financial needs of its residents. Here, we unpack the distinct features of each to guide you in finding the right fit.
National Banks
National banks have branches and ATMs scattered across the country. These banks typically offer a comprehensive range of products and services, making them a viable choice for individuals and businesses with various financial objectives.
Community Banks
Community banks operate in specific geographical areas, emphasizing personalized customer service to meet the specific requirements of the local populace. In Georgia, you have several commendable community banks to choose from, such as Ameris Bank, Morris Bank, Mountain Valley Community Bank, and Gwinnett Community Bank.
Regional Banks
Regional banks offer a wide array of services, combined with a touch of personalization, fostering strong connections with the communities. Some examples of regional banks in Georgia include Fifth Third Bank, PNC Bank, Regions Bank, and United Community Bank.
Credit Unions
Credit unions stand as non-profit entities, operated and owned by their members, generally offering lower fees and better interest rates on savings and loans. Credit unions prioritize the financial well-being of their members, presenting a community-focused approach to banking.
Some of the top credit unions in Georgia include Delta Community Credit Union, Georgia’s Own Credit Union, Robins Financial Credit Union, and Navy Federal Credit Union.
Online Banks
Online-only banks and neobanks let you bank online and on your phone. Despite lacking physical locations, they provide several advantages, such as lower fees and competitive APYs.
Some of the best online banks for Georgia residents include SoFi, Ally Bank, and CIT Bank. Each offers a hassle-free and modern banking experience with potential financial perks.
How to Choose the Best Bank in Georgia
Finding the best banks in Georgia involves sifting through a variety of options, each presenting unique attributes to cater to your specific needs. To help you choose the right bank, we encourage you to consider these factors:
- Accessibility: Most traditional banks and credit unions have local branches throughout the state, which is great if you prefer in-person banking. However, you’ll likely be able to lock in better interest rates and lower fees if you opt for an online-only bank with less overhead costs. Fortunately, most financial institutions nowadays have mobile apps, so you can bank from just about anywhere.
- Fees: Some examples of common banking fees you might come across include monthly maintenance fees, ATM fees, overdraft fees, wire transfer fees, account closing fees, and dormancy fees.
- Minimum balance requirements: Depending on the bank and accounts you choose, you might have to maintain a minimum balance. If you don’t, you’ll likely have to pay fees. Before you pursue a certain account, make sure you can afford it comfortably.
- Product options: Before choosing a bank in Georgia, identify the products and services you require. Consider your need for checking or savings accounts, online banking, credit cards, and other options. Explore banks that offer perks like cashback or rewards programs. Match the offerings with your personal or business needs to find the most suitable option.
- Customer service: There’s a good chance you’ll have questions or concerns once you decide on a bank. For this reason, it’s important to choose a financial institution with high customer service ratings and easy access to customer support. While some banks provide 24/7 customer service via phone, email, and live chat, others will only help you during select business hours.
- Reviews: Be sure to read reviews from real customers on reputable review sites. If you notice many negative reviews about the same topics, you may want to be cautious and look to other banking institutions. It’s also a good idea to check out ratings on websites, like Better Business Bureau (BBB) and Consumer Affairs. In addition, don’t be afraid to ask family and friends for their recommendations.
- FDIC insurance: FDIC insurance will keep your money safe in the event your bank fails. The FDIC usually insures up to $250,000 per depositor. In addition to deposit accounts, it covers money orders, cashier’s checks, and other official products. Before you open an account at a bank, make sure it’s FDIC insured. Most banks have the FDIC insurance logo on their websites. In contrast, NCUA (National Credit Union Administration) insurance covers credit unions up to $250,000.
- Extras: Some financial institutions go above and beyond to offer more than traditional banking products like checking and savings accounts. You may want to look for extra perks like overdraft protection or assist credit monitoring services, introductory offers, foreign currency exchange accounts, robo advising, and credit cards with impressive rewards.
Bottom Line
Georgia has no shortage of banking options. However, the right one for you depends on numerous factors, like your preferred products and services, the types of fees you can afford and are willing to pay, and whether you’d like to bank online or in-person.
If you’re unsure of which bank makes the most sense for your situation, don’t hesitate to open accounts in a few of them. From there, you can hone in on the best option. Good luck with your search for the ideal bank in Georgia.
Frequently Asked Questions
What are the largest banks in Georgia?
The largest banks in Georgia have the most branches throughout the state. These include Truist Bank (223), Wells Fargo (202), and Bank of America (104). All of these financial institutions are known for their extensive ATM networks and diverse product lineup.
How do I open a bank account in Georgia?
In most cases, you can open a bank account on the bank’s website or mobile app. You’ll likely need to submit a government-issued ID, like a driver’s license or passport, as well as personal information, such as your Social Security number.
Should I open an account at different Georgia banks?
If you have large amounts of cash, you might want to open accounts at different banks. This is because the FDIC usually insures up to $250,000 per depositor and bank. This holds true even if you have several accounts with the same bank. You may also want to open different accounts if you want to take advantage of different benefits.
How can I easily switch bank accounts in Georgia?
First, gather basic information like your Social Security number or Tax Identification Number. Then, start the application process, fund your new accounts, and transfer funds from older accounts. Don’t forget to set up direct deposits and automate recurring payments. Some banks provide switch kits to simplify this process.
