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There’s plenty to love about the Land of 10,000 Lakes, from its professional sports teams to its polite residents. For the many people who live and work in Minnesota, though, a strong economy and reasonable cost of living make it a great place to live.
If you’re in the market for a bank account in Minnesota, you’ll have plenty of choices. From national banks with branches in Minnesota to local and community bank options, the state has a little of everything.
10 Best Banks in Minnesota
To help you find the right bank account to fit your needs, here are some of the best banks in Minnesota.
Associated Bank is a regional bank with branches in Minnesota, Wisconsin, and Illinois.
There are 19 branches in Minnesota, including cities like Bloomington, Eagan, Minneapolis, Plymouth, Rochester, and St. Paul.
The bank offers various checking accounts to suit different customer needs, including an option that comes with no monthly maintenance fees and no minimum balance requirements.
To open a checking account with Associated Bank, you’ll need an opening deposit of at least $25. Associated Bank also offers a $50 grace zone on overdrafts.
Associated Bank provides convenient cash access not only at its branches but also through an extensive network of over 30,000 MoneyPass ATMs nationwide.
As a customer, you can benefit from competitive rates on various deposit accounts. With attractive options for savings accounts, CDs, and money market accounts, Associated Bank stands out as one of the top banks in Minnesota.
The SoFi Checking & Savings account is a strong option for online banking, offering up to 3.80% APY on savings and 0.50% APY on checking balances—with no monthly fees.
New customers may also qualify for a cash bonus between $50 and $300 by setting up eligible direct deposits. With access to over 55,000 Allpoint® Network ATMs, managing your money on the go is easy.
SoFi includes helpful features like early direct deposit, allowing you to receive your paycheck up to two days early. It also provides up to $50 in fee-free overdraft coverage for those with qualifying direct deposits.
For added security, deposits are FDIC insured up to $2 million through SoFi’s partner banks.
Wings Credit Union is based in Apple Valley and has branches throughout Minnesota, including Duluth, Eden Prairie, Minneapolis, Rochester, and St. Paul.
It also operates locations in Wisconsin, making it convenient for members across the region.
New members can earn a $300 bonus by opening a checking account, setting up a monthly direct deposit of at least $600, and making five debit card purchases over $25 each. Membership requires a one-time $5 fee.
Wings Credit Union doesn’t charge monthly maintenance fees and has no minimum balance requirements. Members also get access to over 80,000 fee-free ATMs through Co-Op, MoneyPass, and Allpoint networks.
You can earn interest on checking, savings, and CD accounts. Wings also offers competitive rates on home, auto, and boat loans, making it a well-rounded option for personal banking and lending needs.
Wells Fargo has a strong presence across Minnesota, with branches in cities like Duluth, Minneapolis, Rochester, and St. Paul.
It’s a convenient choice for those who want nationwide access along with in-person service.
New customers can earn a $300 bonus by opening an eligible checking account and receiving at least $1,000 in direct deposits within the first 90 days.
The account has a $10 monthly fee, but you can waive it by maintaining a $500 balance or receiving $500 in monthly deposits.
It only takes $25 to open a checking account, and there’s no ongoing minimum balance requirement. Wells Fargo also offers savings accounts and CDs with competitive rates, giving customers more ways to grow their money.
Huntington Bank is a popular choice for Minnesotans who want a fee-free checking account with convenient access to branches and ATMs.
You’ll find Huntington locations in cities like Minneapolis, St. Paul, Bloomington, Edina, and Brooklyn Park.
The Asterisk-Free Checking account has no monthly maintenance fees, no minimum balance, and no opening deposit requirement. It’s easy to open and manage, especially with access to more than 1,400 ATMs.
Huntington’s “Standby Cash” feature allows eligible customers to borrow up to $500 interest-free. To qualify, you’ll need at least $1,000 in monthly deposits and a $200 daily balance. The borrowed amount must be repaid over three months via automatic payments.
While savings interest rates are modest, Huntington offers competitive CD and money market rates. Its Early Pay feature is another plus, allowing customers to access paychecks up to two days early.
MidWestOne Bank serves Minnesota residents with physical branches in cities like Eden Prairie, Elk River, Forest Lake, Minneapolis, Stillwater, and White Bear Lake.
It offers convenient access to in-person service along with digital tools for managing your finances online or through its mobile app.
One of the standout options is its Free Checking account, which requires a $100 opening deposit but has no monthly maintenance fees or minimum daily balance requirements.
Customers can also withdraw cash at no cost from MidWestOne ATMs, as well as MoneyPass and Presto! locations across the country.
For savers, the bank offers competitive rates on CDs and money market accounts. However, higher rates on savings accounts generally require a balance of $25,000 or more.
MidWestOne also provides personal loans and lines of credit with competitive rates, along with customizable debit cards for added convenience.
TruStone Financial Federal Credit Union serves eligible members across Minnesota and Wisconsin, with branches in cities like Brooklyn Park, Burnsville, Duluth, Maple Grove, Minneapolis, and Plymouth.
You can join if you live, work, volunteer, worship, or attend school in a qualifying county.
To open a checking account, you’ll first need to open a share savings account. The checking account requires a $25 opening deposit, comes with no monthly fees, and no minimum balance.
New members can earn a $150 bonus by meeting simple direct deposit and debit card use requirements.
TruStone offers a points-based debit card rewards program, giving you one point for every $5 spent. Members also get fee-free access to TruStone ATMs and over 65,000 partner ATMs nationwide.
For savings, TruStone offers competitive rates on money market accounts and share certificates, making it a solid option for both everyday banking and long-term saving.
Bremer Bank is a well-established regional bank with branches across Minnesota, including locations in Duluth, Mankato, Minneapolis, Rochester, St. Cloud, and St. Paul.
The standard checking account has no monthly fee if you meet one of three conditions: enroll in online statements, maintain an average balance of $1,500, or fall under the age of 21 or over 64.
Otherwise, the fee is $3 per month. Opening an account requires a $100 deposit.
Customers get free access to over 37,000 MoneyPass ATMs nationwide. Bremer also offers competitive rates on money market accounts and CDs.
Other benefits include a free first order of checks and specialized business and agricultural banking services for those who need more than just personal banking.
Active in several states, including Minnesota, BMO Harris is a national bank that brings essential banking services right to your fingertips.
Their mobile banking app is designed to simplify your financial management, offering features such as mobile check deposit, seamless fund transfers between your savings and checking accounts, and easy online bill pay.
Start-up with BMO Harris is easy, with a $25 minimum deposit to open a checking account and no minimum balance requirement. You also won’t be charged monthly maintenance fees.
ATM accessibility is a strong point for BMO Harris Bank customers. You’ll have access to BMO Harris facilities nationwide and over 40,000 other ATMs across the country.
Savings enthusiasts will appreciate the competitive APYs on savings account balances. Additionally, BMO Harris also offers business accounts, credit cards, all kinds of loans, as well as investment and retirement products.
If you’re looking to build or manage your wealth, you can take advantage of their wealth management services to help you reach your financial goals.
How to Choose the Best Bank in Minnesota
Finding the right bank in Minnesota comes down to what fits your lifestyle and goals. Here’s a straightforward guide to help you compare your options and make a choice you’ll feel good about.
Know Your Banking Options
Minnesota has plenty of banks and credit unions, each with its own approach:
National Banks: These banks have branches across the country and offer a wide mix of services. They usually provide strong online tools and a large network of ATMs.
Regional Banks: Regional banks focus on a specific part of the country. They often mix the features of big banks with a more local touch.
Community Banks: Community banks are homegrown institutions. They’re known for getting to know their customers and offering more personalized service.
Online Banks: Online banks have no physical branches. They often offer higher rates on savings and lower fees because their costs are lower.
Credit Unions: Credit unions are member-owned and put the focus on their members, often with better rates and a local feel.
Compare Fees
Look closely at the fees. Watch out for monthly service charges, overdraft fees, ATM fees, and anything else that might cut into your balance. Some banks and credit unions offer fee-free accounts, especially if you meet certain requirements.
Check Interest Rates
See what each bank offers for interest rates on savings, checking, and CDs. Better rates can help your money grow faster, while lower rates on loans and credit cards can save you money.
Review the Services You Need
Think about the services that matter most to you—such as business accounts, home loans, auto loans, or investment options. Make sure the bank or credit union can support all your needs now and in the future.
Evaluate Customer Service
Good customer service makes banking easier. Look for banks and credit unions that are known for quick, helpful responses—whether you’re in a branch, on the phone, or using chat.
Test Online and Mobile Banking
Digital banking should be smooth and easy to use. Choose a bank or credit union with an app or website that’s reliable, secure, and makes everyday banking hassle-free.
Consider Convenience
Think about how easy it will be to get cash, make deposits, or talk to someone if you have a question. Consider branch and ATM locations, as well as hours of operation.
Choosing the best bank in Minnesota starts with knowing what matters most to you. Take time to compare your options, and you’ll find a bank or credit union that makes managing your money simple.
Final Thoughts
Minnesota offers plenty of solid banking choices, from big-name institutions to trusted local credit unions. Whether you’re looking for low fees, high savings rates, or easy ATM access, there’s an option to match your needs.
The best banks in Minnesota will depend on your habits and goals. By focusing on what matters most—whether it’s mobile tools, strong customer support, or local access—you can find a bank that helps you manage your money more effectively.
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.
