12 Best Banks in Idaho for 2024

Idaho has become a hot spot for those looking to relocate. Whether you’ve moved to Boise, Idaho Falls, or one of Idaho’s many small towns, you’ll need a place to park your money. The best banks in Idaho offer low fees and plenty of services. Here are some top contenders to consider if you’re in the market for a new bank.

Welcome to Idaho

12 Best Banks in Idaho

Let’s explore the best banks in Idaho based on their customer service, offerings, and overall reputation.

1. U.S. Bank

U.S. Bank maintains a strong presence in Idaho, providing customers with a mix of local accessibility and the broad offerings of a national bank.

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. D. L. Evans Bank

For Southern Idaho residents who appreciate a blend of tradition and modernity in their banking, D.L. Evans Bank offers an ideal solution. Recognized as one of the best banks in Idaho, it has gracefully transitioned into the digital era, offering full-fledged online and mobile banking solutions.

D.L. Evans Bank provides a wide variety of deposit accounts, from checking and savings to money market accounts and CDs.

The Free Community Checking account stands out for its user-friendly features, such as no monthly fees and no minimum balance requirement. The bank also ensures ease of use through integrated online and mobile platforms, along with quick transactions via Zelle.

In addition to these benefits, account holders have the advantage of a widespread ATM network, which includes both D.L. Evans and 40,000 MoneyPass ATMs nationwide.

Those who require further assistance can opt for video chat consultations with customer service representatives. Moreover, D.L. Evans Bank is competitive in the loan market, presenting attractive rates to suit a range of financial needs.

3. SoFi

For those looking for a compelling high-yield online banking experience, SoFi Checking & Savings account stands out as an excellent choice. The account comes with no monthly fees and boasts an impressive 4.60% APY on its online savings account, and 0.50% APY on checking balances.

One of SoFi’s standout features is its early direct deposit option, which can get your paycheck into your account up to two days ahead of schedule.

This is in addition to other perks like robust FDIC insurance coverage up to $2M. If that wasn’t enough, SoFi also offers no-fee overdraft coverage up to $50 for those with qualifying direct deposits.

New customers have the opportunity to earn a bonus ranging from $50 to $300 depending on the amount of their direct deposit.

With access to over 55,000 Allpoint® ATM locations, it’s easy to see why SoFi is quickly becoming a go-to option for financially savvy individuals.

4. Chase

With a strong presence in Southern Idaho, Chase Bank has found innovative ways to weave its services into the fabric of daily life. The bank has accessible branches and banking kiosks within select Fred Meyer grocery stores, making it easier to handle financial tasks while shopping.

Chase Bank’s range of financial products is designed to meet diverse needs. The checking account, in particular, comes with several perks. Customers can avoid fees by either maintaining a $1,500 balance or receiving monthly direct deposits of at least $500.

The bank also provides a $200 bonus for new checking accounts that meet certain qualifications. Additionally, Chase expands its range of services to include savings accounts, CDs, and an extensive wealth management portfolio backed by JPMorgan expertise.

Families will appreciate the special accounts designed for children ages 6-17. Furthermore, the bank has over 16,000 ATM locations nationwide.

5. Zions Bank

As a regional bank, Zions Bank has built an enduring legacy for over 150 years, positioning itself as a trustworthy entity in the community and arguably one of the best banks in Idaho.

The bank has a diverse financial portfolio, including a savings account, CD, auto and personal loans, and even specialized military checking accounts.

While Zions Bank excels in digital services—offering an easy-to-use mobile app for tasks like mobile check deposits, bill payments, and money management—its geographical footprint is worth noting.

The bank has 200 ATMs, primarily serving Utah, Idaho, and Wyoming. If you find yourself in these regions, you’ll enjoy free ATM access at these locations. However, if you use a third-party ATM, you’ll pay a $2.50 fee per transaction.

6. Washington Trust Bank

Washington Trust Bank has a long and proud history in the United States. It’s known as the oldest community bank in the country, and it was the first to have bills with George Washington’s picture on them.

The bank has locations in Idaho, Washington, and Oregon. It has a range of account options to suit different needs, including checking and savings accounts, CDs, and money market accounts. Each kind of account has its own special features, so people can choose the one that works best for them.

Washington Trust Bank makes banking easy and affordable with their checking accounts. Account holders don’t have to worry about monthly maintenance fees or overdraft fees.

There’s also no need to maintain a minimum balance in the account. Plus, opening an account is simple and can be done with just a $25 deposit.

7. First Federal Savings Bank of Twin Falls

For those who value a bank with strong local ties, the First Federal Bank of Twin Falls offers a unique blend of community-centric services and competitive offerings. As an institution deeply rooted in Idaho, it has branches that are predominantly located in and around the Twin Falls area.

One of its standout features is its free checking account, which boasts an enticing 4.07% APY, a rate that’s hard to match in the current banking landscape. There’s a $100 minimum opening deposit, but no minimum balance requirements.

While its savings account rates may not eclipse the checking, it’s still worth a look, especially for those who prioritize keeping substantial funds in checking.

Besides its financial offerings, the bank is known for its personalized service, understanding the unique needs and aspirations of its Idaho clientele.

8. Idaho Central Credit Union

If you live in Idaho, Washington, or eastern Oregon, you might be eligible to become a member of the Idaho Central Credit Union (ICCU). It’s the largest credit union in Idaho with a strong presence in areas including Boise, Coeur d’Alene, Eagle, and Idaho Falls, facilitated through its 48 branches.

A major perk of ICCU is its free checking accounts, although you can secure higher interest rates if you opt for their savings accounts instead.

As a member, you’ll have nationwide ATM access and an array of mobile banking features, such as the ability to transfer money, pay bills, set up alerts, and more.

Opening a checking account with ICCU is pretty straightforward. There are no monthly fees to contend with and no requirement to maintain a minimum daily balance. Getting started involves a $5 membership fee, and a minimum deposit of $100 to open your account.

9. Wells Fargo

Wells Fargo has branches in both Northern and Southern Idaho, particularly the Coeur d’Alene, Idaho Falls, and Boise Falls areas. Currently, Wells Fargo is offering a $300 bonus to new checking customers who make $1,000 or more in qualifying direct deposits in the first 90 days.

Northern and Southern Idaho residents who prefer traditional banks will like that they have numerous branch locations.

The most affordable checking account is Everyday Checking, which comes with a $10 monthly service fee that can be waived by keeping a $500 balance or having $500 in at least one qualifying deposit each month.

Wells Fargo also offers savings accounts, CDs, credit cards, personal loans, mortgages, and much more.

10. Farmers Bank

If you’re a fan of family-owned local banks, Farmers Bank could be your go-to in Idaho. Established back in 1917, it has a long history of serving the communities in Magic Valley and the southern parts of Idaho. It has grown impressively over the years, now ranking as the 6th largest bank in the state.

What makes it attractive to many customers is its free checking account offer. If you opt for e-statements, you won’t be charged any monthly fees, or be required to maintain a minimum balance. Opening an account is straightforward, with only a $100 initial deposit required.

In addition, Farmers Bank offers a mobile banking app that allows you to handle bill payments and receive alerts, enhancing your banking experience without complicating it.

11. Bank of Idaho

Bank of Idaho is a community bank that offers the usual banking services but also various trust and investment options along with other specialized services. This approach has helped it become the fifth-largest bank in Idaho, showcasing its dedication to the local community.

While it offers considerable advantages, it’s worth noting that the Bank of Idaho maintains a limited number of physical branches.

They’ve chosen strategic locations for these full-service branches in areas including Pocatello, Idaho Falls, St. Anthony, Ashton, and Island Park, ensuring accessibility in key regions.

When it comes to checking accounts, those who choose e-statements can enjoy a waiver on the monthly service fee.

Additionally, the bank does not require a minimum daily balance, which can make daily banking stress-free. Setting up the bank account is a straightforward process with just a $100 initial deposit.

12. Citizens Community Bank

Citizens Community Bank offers a harmonious blend of modern banking features with a local bank’s friendly service, making it a great choice for people in Idaho.

They have checking accounts with no monthly fees, no minimum deposit, and no minimum balance requirements. Plus, their easy-to-use mobile banking app lets you check your balance and move money around without any hassle.

Besides checking accounts, they also have various other services including savings and money market accounts, CDs, personal loans, credit cards, and retirement accounts to help you manage your finances and plan for the future.

How to Choose the Best Bank in Idaho

Choosing the best bank in Idaho is a significant financial decision that can impact your daily transactions and long-term financial goals. When considering the various banks in Idaho, it’s essential to weigh several factors to be certain you’re making an informed choice. Here’s a guide to help you choose:

  • Services offered: Make sure the bank offers the specific services you require, be it mortgages, business accounts, or investment opportunities.
  • Fees and charges: Some banks in Idaho might lure you in with attractive offers but have hidden fees. Always ask for a detailed fee structure.
  • Accessibility: If you value face-to-face interaction, consider how many branches the bank has in your area. Alternatively, if you prefer online banking, check the quality and features of their mobile apps.
  • ATM availability: Check to see if the bank has a wide ATM network, especially if you travel frequently. Some banks grant rebates for out-of-network ATMs.
  • Customer service: Good customer service can be a defining factor. Check online reviews, and perhaps ask friends and family about their experiences with specific banks in Idaho.
  • Interest rates: Compare interest rates for savings, checking, and loan products among different banks to get the best return or rate.
  • Community engagement: If supporting local communities is essential for you, consider banks in Idaho with strong community engagement or those that invest back into the local community.
  • Security: Confirm that the bank uses robust security measures to protect your data and money.
  • Bank’s reputation: Look into the bank’s reputation in terms of stability, trustworthiness, and how they handle issues or disputes.
  • Special features or offers: Some banks and credit unions might provide unique features like cashback, rewards, or special interest rates for certain conditions.

Remember, the best bank for one person might not be the best for another. Your individual needs and preferences will determine which of the best banks in Idaho is the right fit for you. It’s always wise to revisit your options every few years to ensure you’re still getting the best deal and service.

Types of Banks in Idaho

In Idaho, residents have several options when it comes to choosing a banking institution to trust with their financial needs. Here we outline the different types of banks available in the state, each with its own set of benefits:

National Banks

National banks operate in various locations across the country, offering a wide range of financial services and products. These brick and mortar banks often come with the advantage of having many ATMs and branches, making it convenient for people who travel frequently. In addition, they provide sophisticated online and mobile banking tools.

Regional Banks

Regional banks hold a middle ground, being larger than community banks but smaller than national banks. These institutions mainly focus on serving the specific areas where they are established. In Idaho, they offer a broad selection of services and products, which includes diverse options for checking and savings accounts. Compared to the larger counterparts, regional banks generally offer a more personalized service, fostering a closer relationship with their customers.

Community Banks

Community banks are locally operated financial institutions that focus on serving the residents and businesses in their locality. In Idaho, community banks play a crucial role in fostering local economic development. They often offer personalized services and are knowledgeable of the local market dynamics, providing a friendly and community-centric banking environment.

Online Banks

Online banks operate entirely over the internet, giving you a high level of convenience, as you can carry out transactions and manage your bank account from anywhere with an internet connection. These banks typically offer competitive interest rates on savings accounts and charge lower fees compared to traditional banks. However, they lack physical branches, which might be a drawback for those who prefer in-person banking services.

Credit Unions

Credit unions are member-owned financial cooperatives that often offer favorable interest rates and lower fees compared to other banking institutions. In Idaho, credit unions provide a community-focused approach to banking with a commitment to serving their members’ best interests. Joining a credit union usually involves meeting specific membership criteria based on location, occupation, or affiliation with certain groups or organizations.

Top choices include Idaho Central Credit Union, known for its customer satisfaction and broad range of services, and CapEd Credit Union, lauded for its strong educational programs and community engagement. Westmark Credit Union is also a favored option, with attractive rates on savings accounts and loans.

Bottom Line

As you consider your choices among the best banks in Idaho, you’ll find that there are many options available, each catering to different preferences and needs. From interest-earning accounts to fee-free checking accounts, the options are robust.

Whether you gravitate towards a small community bank, a regional entity, or a large national bank, it’s pivotal to ensure that the amenities and services align with your financial goals. Take time to explore and find the perfect fit that offers not just convenience, but also a financial partnership that grows with you.

Stephanie Faris
Meet the author

Stephanie Faris is a professional finance writer with more than a decade of experience. Her work has been featured on a variety of top finance sites, including Money Under 30, GoBankingRates, Retirable, Sapling, and Benzinga.