14 Best Banks in Mississippi for 2024

It may be known for blues music and catfish farming, but the Magnolia State has plenty to offer when it comes to work and play. Mississippi is home to industries from technology to agriculture, with everything in between.

If you live in the state, you’re likely hoping to find the best banks in Mississippi to fit your checking and savings account needs.

Welcome to Mississippi

14 Best Banks in Mississippi

Whether you’re looking for a national bank, a regional bank, or a small community bank, there are so many banks in Mississippi, it’s easy to find one that meets all your needs. You may even find the options overwhelming. Here’s a list of some of the best bank accounts in the state to help you narrow it down.

1. BankPlus

BankPlus is a well-known local bank in Mississippi that provides personalized customer service through its widespread presence of branches.

While the bank promotes a close connection with its customers through interactive teller machines, where you can chat with live bank representatives, it does ask clients to bear a small inconvenience. To avoid ATM withdrawal fees, you’ll need to use a BankPlus ATM, which might not always be handy.

Opening a checking account here is straightforward. You will start with a $100 initial deposit and there is no pressure to maintain a minimum balance, offering flexibility in how you manage your finances. The account does come with a $6 monthly fee.

One standout feature that makes BankPlus shine is the valuable perk of up to $1,200 in cell phone protection per year.

2. SoFi

SoFi’s Checking & Savings account is becoming a favorite for many, offering an impressive 4.60% APY on online savings and 0.50% APY on checking balances. You’ll appreciate the freedom from monthly fees and no minimum balance requirements, highlighting SoFi’s hassle-free banking experience.

An exclusive feature that stands out is the early direct deposit option, letting you access your paycheck up to two days earlier. SoFi also offers FDIC insurance up to $2 million.

Add in the enticing welcome bonuses ranging from $50 to $300 for new customers, and no-fee overdraft coverage for qualifying accounts, SoFi demonstrates a commitment to value and convenience.

Over 55,000 ATMs means easy access to cash, showcasing why SoFi is fast becoming a popular choice for savvy banking individuals.

3. Planters Bank

Planters Bank, with branches in Mississippi, Tennessee, and Louisiana, caters to customers preferring banks with physical locations.

Setting up a checking account is easy with a modest $50 opening deposit, $6 monthly fee, and no minimum balance requirements. You can also benefit from a potentially lucrative APY of up to 2.50% on money market accounts.

Modern banking expectations are met through robust mobile banking features, ensuring convenience at your fingertips.

Additionally, the bank allows unlimited check writing, blending traditional and contemporary banking amenities to offer a substantial choice for prospective customers in Mississippi and beyond.

4. GO2bank

GO2bank, powered by Green Dot, is making waves in the digital banking sector. It allows users to easily open checking accounts as well as savings accounts with a 4.50% APY.

The bank keeps accessibility at its core with 90,000 spots for cash deposits and 55,000 fee-free ATMs. You’ll also have the perk of potentially receiving your salary up to two days early or government benefits up to 4 days earlier.

To steer clear of the $5 monthly fee, just ensure a direct deposit is made monthly. The bank also cushions against financial mishaps with an optional $200 overdraft protection.

Additionally, GO2bank offers a pathway to better credit scores through building credit with its Secured Visa Credit Card.

5. Renasant Bank

Based in Tupelo, Renasant Bank showcases its regional strength with 195 branches sprawling across seven states, including a significant presence in Mississippi.

They offer an array of checking accounts to cater to various needs, featuring a basic account that remains fee-free if you adhere to certain requirements.

To dodge the $10 monthly fee, customers can opt for eStatements, set up at least one direct deposit a month, or maintain a daily balance of $1,000.

Initiating your journey with Renasant Bank is quite straightforward, necessitating a mere $50 to open an account, with the comfort of no minimum balance requirement post that.

Savings enthusiasts might find the 4.46% APY on CDs appealing, presenting a viable route to augment their savings. The bank doesn’t fall short on the extras, offering a suite of checking and loan options for small business owners. They also offer children’s savings accounts.

6. Cadence Bank

From its inception in a Verona, Mississippi as a hardware store in 1876, Cadence Bank has flourished into a regional bank with branches in numerous states, including Mississippi.

The bank’s “My Way” checking account stands out, offering a way to avoid the $8 monthly fee. You can do it by maintaining a $250 balance, executing five debit card purchases a month, having at least one $100+ direct deposit, or being a student under 25.

Starting with Cadence requires a $50 initial deposit and adherence to a $250 minimum balance requirement.

On the savings front, the bank boasts up to 4.49% APY on CDs, an attractive rate for savers. Additionally, Cadence Bank offers specialized bank accounts for seniors over 62 and offering wealth management services to its clients.

7. Cleveland State Bank

Cleveland State Bank is a local community bank with five branches in Mississippi, three of which are located in Cleveland, and one each in Merigold and Grenada.

In terms of checking options, the bank has two non-interest-bearing accounts and an Elite Checking Account which does earn interest at a variable rate set by the bank.

To open this account, a substantial initial deposit of $1000 is needed, and a $9 monthly fee can be avoided by maintaining this balance.

The bank also offers three types of savings accounts. The regular one requires a $100 initial deposit and a minimum account balance of $100 to waive the $5 monthly fee.

Furthermore, Cleveland State Bank extends its service offerings to include credit cards, mortgages, various loans, and safe deposit boxes.

8. Gulf Coast Community Federal Credit Union

Gulf Coast Community Federal Credit Union operates branches in locations such as Gulfport and D’Iberville. It offers the New Chance Checking account, a second chance checking account, fostering financial recovery for those who need a fresh start.

Opening this account requires a deposit of $100. A notable downside is the $15 monthly fee, although it aids individuals in rebuilding a trustworthy banking history.

Account holders receive a complimentary Visa debit card and the perk of unlimited check writing. Moreover, maintaining a good standing for a year or more could allow an upgrade to a traditional checking account.

9. Ally Bank

Ally Bank is an online-only bank that presents a compelling alternative to traditional big banks. It promises a hassle-free checking account experience with no monthly maintenance fees and no mandatory minimum account balance. There’s also no minimum deposit requirement.

One of the highlights is the user-friendly mobile banking app, coupled with access to 43,000 Allpoint ATMs across the nation. The bank stands ready to reimburse up to $10 in fees charged at other ATMs nationwide per statement cycle.

Ally draws attention with its attractive interest rates on a variety of financial products, including savings accounts, CDs, and money market accounts.

What sets Ally Bank apart are the additional features such as early access to paycheck funds and a generous overdraft coverage up to $200 through the SpotMe service, enhancing its appeal as a modern and customer-friendly banking option.

10. Wells Fargo

Wells Fargo is a national bank and one of the largest banks in the country. It offers a broad range of banking services complemented by an extensive branch and ATM network.

Starting a checking account at this national bank is accessible, with a minimum opening deposit of just $25. There’s a $10 monthly fee, but it’s avoidable for those aged 17 to 24, those receiving $500 or more in qualifying electronic deposits each month, or maintaining a minimum balance of $500.

College students have an extra advantage; they can access free checking when they link a Wells Fargo campus card to their bank account.

When it comes to savings, Wells Fargo offers a competitive 2.51% APY on savings accounts and an even more attractive 4.51% APY on CDs.

New customers have enticing incentives to join, including a $300 reward for opening a new checking account and the opportunity to earn 20,000 bonus points with the new Wells Fargo Visa.

11. Regions Bank

Operating mainly in the South, Midwest, and Texas, Regions Bank offers convenience with its widespread presence in Mississippi, facilitated by branches and DepositSmart ATMs which simplify check and cash deposits.

The LifeGreen eAccess Account stands out as an online and mobile banking solution, waiving the $8 monthly fee for users who make a minimum of 10 debit or credit card transactions each month.

Starting with a $50 initial deposit, customers are not bound to maintain a daily minimum balance. Savings options come with appealing rates, offering up to 4.75% APY on CDs and up to 1.50% APY on money market accounts.

Regions Bank also offers wealth management services, catering to those keen on building and managing their assets effectively.

12. PriorityOne Bank

Situated exclusively in Mississippi with 16 branches, PriorityOne Bank stands as a favorable option for those preferring a community bank’s personal touch.

The bank offers an array of checking account options including a basic one equipped with essential mobile banking tools and unrestricted check writing privileges. This bank account carries a $7 monthly fee, although maintaining a daily balance of $100 or more can have this charge waived.

A modest opening deposit of $50 is necessary, while there’s no stringent demand for a minimum balance thereafter. When it comes to savings, the bank proposes up to 1.00% APY on CDs and up to 0.20% APY on money market accounts, giving a fair opportunity to grow your savings gradually.

As additional advantages, PriorityOne has initiated a Check Buy-Back program, reimbursing customers for unused checks and debit cards from their former bank. Moreover, small business owners can find a range of banking solutions, underscoring the bank’s commitment to fostering local businesses.

13. Trustmark National Bank

With its headquarters in Jackson, Trustmark National Bank is a notable presence in the Southeast U.S., providing services through its 180 branches, alongside a host of ATMs and ITMs.

The bank offers a checking account with a $10 monthly fee. However, they waive the fee if one of the following criteria: at least 15 debit transactions per month, minimum electronic deposits of $100 monthly, or an average balance of $1,500.

There’s a $50 minimum deposit to open the checking account, and no stipulation for a minimum daily balance. The offerings extend to a $50 bonus for those who open a student checking account.

Trustmark National Bank also offers a wide range of banking options to small business owners, demonstrating its commitment to meeting the demands of a wide range of clients.

14. First State Bank

First State Bank is a community bank that serves various locations including Waynesboro, as well as in Ellisville, Laurel, Leakesville, Lucedale, Meridian, Quitman, and State Line.

The standout option here is the Kasasa Cash Checking, a rewards checking account that liberates you from monthly fees and allows you to earn up to 1.00% APY on your account balance. It is a great option for those preferring a fee-free checking account.

Opening an account comes with a modest minimum deposit requirement of a $100 while exempting you from maintaining a daily minimum balance. You can also expect up to $25 reimbursement each cycle for out-of-network ATM fees.

Customers can benefit from a savings account rate of up to 0.25% APY. For individuals aged 50 and over, the bank extends an invitation to its Travel and Leisure Club, promising additional perks and experiences. This approach illustrates First State Bank’s commitment to rewarding customer loyalty with exclusive benefits.

How to Choose the Best Bank in Mississippi

When it comes to managing your finances, selecting from the best banks in Mississippi is a critical decision that can influence your financial health for years to come. The perfect bank for you keeps your money safe and helps you grow your wealth seamlessly. Below, we detail essential criteria that can aid in making an informed choice:

Customer service: Quality customer service is non-negotiable. Look for banks in Mississippi that are known for their responsive and helpful customer support teams. A bank that prioritizes its customers will always stand out in providing satisfaction and meeting your needs promptly.

Fees and charges: Pay close attention to the fee structure of different banks. The best banks in Mississippi typically offer a transparent fee structure, helping you avoid any unpleasant surprises in the future. Ensure to review any monthly service fees, ATM fees, and overdraft charges before settling on a bank.

Product offering: Banks offer a myriad of products such as checking accounts, savings accounts, mortgages, and loans. Depending on your financial objectives, it would be beneficial to opt for a bank that provides a comprehensive range of products, giving you the flexibility to manage your finances effectively.

Online and mobile banking: In today’s digital age, having access to online and mobile banking services is a must. The best banks in Mississippi are likely to offer state-of-the-art digital platforms that allow you to manage your bank accounts, pay bills, and transfer money with ease, all from the comfort of your home.

Special features or offers: Many banks and credit unions offer unique features and special offers to differentiate themselves in the market. These may include cashback opportunities, rewards programs, or special interest rates under certain conditions. Consider what each bank offers in this regard to find the option that brings you the most benefits.

Branch and ATM availability: If you prefer banking in person, consider the proximity of the bank’s branches and ATMs to your home or workplace. Having easy access can save you time and possibly money on ATM fees.

Interest rates: Competitive interest rates can make a significant difference in your savings growth over the long run. Be sure to explore the interest rates on savings accounts and CDs offered by various banks in Mississippi, and choose one that offers the most beneficial rates to foster financial growth.

Community engagement: Some people prefer banking with institutions that are involved in community development and social responsibility initiatives. If this matters to you, research to find out the best banks in Mississippi that actively engage in community events and development projects.

Types of Banks to Consider in Mississippi

In your journey to finding the best bank in Mississippi, it’s important to understand the different types of banks available to cater to diverse needs. Here, we succinctly detail each one:

  • National banks: These are large institutions with widespread services and a vast network of ATMs and branches, not only in Mississippi but nationwide. They offer a rich array of financial products and modern online banking solutions.
  • Regional banks: Operating in a specific region or a set of states, regional banks offer a more personalized banking experience. They blend the resourcefulness of a national bank with a focused understanding of the local market’s specifics.
  • Local banks: Often known as community banks, these institutions serve the local population of Mississippi, providing a personal touch and fostering relationships with local businesses and individuals.
  • Online banks: Online-only banks offer attractive interest rates and lower fees, banking on the savings from not maintaining physical branches. They are suitable for those comfortable with a digital banking experience.
  • Credit unions: These are member-owned cooperatives known for offering competitive interest rates and lower fees. Membership comes with a community-centric approach and typically requires fulfilling specific criteria.


Choosing a bank is a significant decision in one’s financial journey. In Mississippi, you have a plethora of options, ranging from national banks to credit unions. By understanding the distinctive features of each type of bank, you can align your choice with your lifestyle. Take time to assess your priorities, and select a bank that stands tall in serving your requirements optimally, ensuring a fruitful banking experience in Mississippi.

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.