17 Best Banks in Missouri for 2024

Banking

From the Kansas City Chiefs to St. Louis’s Gateway Arch, Missouri has plenty to offer both residents and visitors. As a result, there are plenty of banks in Missouri. In fact, it can be tough to narrow down the options.

Missouri Welcomes You

17 Best Banks in Missouri

From online banking apps to small community banks and large financial institutions, Missouri has a little of everything. Here are some of the best banks in Missouri to kick off your search.

1. U.S. Bank

With a strong presence throughout the Show-Me State, U.S. Bank continues to provide Missourians with a wide array of financial services backed by its national reputation and extensive branch network.

U.S. Bank is currently welcoming new applicants in 26 U.S. states with a special online offering:

  • Earn up to $800 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 March 12, 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.

Pros:

  • Feature-rich mobile banking features
  • Up to $750 bonus for business checking account

Cons:

2. Chime

Chime® is a mobile banking solution with competitive interest rates on savings accounts. The Chime checking account boasts no monthly fees, no foreign transaction fees, and no transfer fees.

You’ll also get fee-free1 access to over 60,000 MoneyPass, Allpoint, and VisaPlus Alliance ATMs nationwide, as well as access to your direct deposit up to two days early2.

Direct deposit customers also qualify for up to $200 in overdraft protection through SpotMe5, although Chime charges no overdraft fees. Additionally, you can make cash deposits at over 75,000 retail locations.

Pros:

  • No monthly fees on checking account
  • Up to 2.00% APY3 on savings accounts
  • No overdraft fees

Cons:

  • No physical branches

3. First Midwest Bank

Founded in Poplar Bluff, First Midwest Bank has locations in Poplar Bluff, Columbia, Greenville, Piedmont, Puxico, Van Buren, and Williamsville. Currently, First Midwest is offering $0.10 cash back per swipe of your First Midwest Dime-a-Time debit card.

With the checking account, there’s a minimum deposit of $50. You get a free debit card, as well as online banking and bill pay.

Recently, First Midwest merged with Old National Bank to expand its reach and offerings to Indiana, Illinois, and Kentucky.

Pros:

Cons:

4. GO2bank

GO2bank is an online banking solution with a full-featured mobile app and access to free ATM withdrawals and deposits through partners. Your account with GO2bank will include a checking account with no maintenance fees and a high-yield savings account.

If you’re interested in building credit, you can qualify for a GO2bank Secured Visa Credit Card, which reports your payments to credit bureaus and requires no credit check.

Pros:

  • Fee-free checking account with direct deposit, otherwise $5.00 monthly fee
  • Up to 4.50% APY on savings accounts
  • Cash deposits at 90,000+ retail locations nationwide

Cons:

  • No physical branches
  • Direct deposit necessary for free checking

5. Commerce Bank

Kansas City residents should consider Commerce Bank, a community bank with locations throughout Missouri, as well as in 10 other states. You’ll find a wide variety of checking account and loan options, as well as savings accounts and CDs.

Besides in-person customer support at a branch, Commerce Bank CONNECT offers chat support 24 hours a day, 7 days a week. You’ll choose the banker and connect with the same representative every time.

Pros:

  • Free checking account includes full mobile banking services
  • Competitive rates on loans

Cons:

  • Low APYs on savings accounts and CDs

6. Axos Bank

If you don’t need a local branch, online banking might be an option. Axos Bank offers online banking through its website and mobile banking app. There are multiple checking account options, including accounts with no monthly fees and rewards.

Axos offers unlimited ATM fee reimbursements, so you can use your debit card anywhere in the U.S. Currently, Axos has a $100 bonus for new checking account holders who open an account and have at least $1,500 in electronic deposits within the first 30 days.

Pros:

  • $100 bonus for new rewards checking account
  • Up to 3.30% APY on checking accounts

Cons:

  • Services only available online
  • Low APYs on savings accounts

7. Regions Bank

With locations in several Midwest and Southeast states, including Missouri, Regions Bank is a convenient option for travelers in these regions.

Regions Bank offers a variety of banking solutions, including wealth management services and support for small business owners. With DepositSmart ATMs, you can deposit funds without going to a branch.

Pros:

  • Flexible requirements to waive checking account fees
  • Checking accounts for students and seniors

Cons:

  • Low rates on savings accounts

8. Central Bank

Central Bank is a regional bank with more than 130 branches in Missouri, Kansas, Illinois, and Oklahoma. You’ll find multiple checking account options, including a fee-free account with all the basic features.

You’ll enjoy free transactions at any Central Bank ATM, as well as more than 37,000 ATMs nationwide. Central Bank also has multiple business checking accounts and business loans.

Pros:

  • Wide range of loan options available

Cons:

  • $50 minimum deposit to open

9. Bank of America

There are benefits to going with a national bank, including access to banking services while traveling and a broad range of features. As one of the largest national banks, Bank of America offers a variety of checking account products and wealth management services.

Business customers can earn a $200 bonus for opening a new account and depositing $5,000 in the first 30 days. Individual banking customers should check out the $200 rewards bonuses on new credit cards.

Pros:

  • 3,900 branches and 15,000 ATMs nationwide
  • Wide range of personal and business credit cards

Cons:

  • Low APYs on savings accounts
  • Long waits for customer service

10. Great Southern Bank

Great Southern is headquartered in Springfield, with branches in Missouri, Arkansas, Iowa, Kansas, Minnesota, and Nebraska. You’ll find multiple checking account options, with a free basic checking account.

Although Great Southern’s checking accounts require minimum deposits, there are three options with only a $25 minimum opening deposit required.

That includes a second chance checking account designed to help those who struggle to establish an account due to their banking history.

Pros:

  • Access to Allpoint ATMs nationwide
  • Competitive rates on personal loans

Cons:

  • Checking accounts require a minimum deposit to open
  • Limited customer service hours

11. Belgrade State Bank

Belgrade State Bank is a local bank that offers a diverse array of financial services to cater to different needs. They offer personal checking and savings accounts, with the Premium Checking Account being a notable option.

It accrues 0.05% APY on balances up to $2,499.99 and 0.20% APY on balances of $2,500 and above, albeit with a mandatory minimum balance of $1,000.

For business owners, the bank offers a selection of business checking accounts. A standout choice is the free account that permits up to 1,000 transactions each month at no cost, followed by a nominal charge of $0.25 for every additional transaction.

Additionally, the bank provides investment opportunities through certificates of deposit (CDs) with rates reaching as high as 4.17% APY, paving the way for potentially rewarding investments.

Pros:

  • No monthly fees with enrollment in e-statements
  • No minimum balance requirement for checking accounts
  • Competitive rates of personal loans

Cons:

  • Limited branch and ATM footprint
  • $50 minimum deposit to open

12. PNC

PNC stands as one of the largest banks in the nation, boasting a substantial presence in Missouri with 26 dedicated branches.

While its operational footprint spans 29 states, PNC facilitates seamless and complimentary access to over 60,000 ATMs throughout the country, ensuring you can access your funds conveniently, wherever you are.

Pros:

  • No monthly fees with $500 in direct deposits, otherwise $7
  • Competitive mobile banking features

Cons:

  • Low interest rates on savings account
  • Accessible banking services, including support for non-English-speaking customers

13. Mid-Missouri Bank

Mid-Missouri Bank is one of the best banks for both the small business owner and the consumer. You’ll find 14 branches across Missouri, as well as ATMs within the coverage area. There are two checking accounts.

One issues an annual percentage yield on your balance, while the other offers cash back on debit card purchases. Mid-Missouri offers competitive rates on personal loans, including auto, home, and home equity lines of credit.

Pros:

  • Basic account earns cash back or APY
  • Up to $25 in ATM fees refunded each month

Cons:

  • Lower APY on savings account than competitors

14. Bank of Missouri

Bank of Missouri is one of the best banks in Missouri for its checking account perks. You’ll have three options: a bank account that earns 3.05% APY, an account that earns cash back on debit transactions, and one that offers iTunes, Amazon, or Google Play refunds each month.

This bank’s checking accounts come with no monthly maintenance fees and refunds on up to $25 monthly in ATM withdrawals outside of its network.

Pros:

  • Rewards and interest-bearing checking accounts
  • No monthly fee on checking and savings accounts
  • Competitive rates on CDs

Cons:

  • Low rates on savings account

15. UMB Bank

UMB Bank is one of the longest-running Missouri banks, established more than a century ago. You’ll also find operations in Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona, and Texas.

The UMB Free Checking account has no monthly fees and only a $10 minimum opening deposit. The bank also offers online banking options that make it easy to transfer funds and deposit checks.

Pros:

  • Comprehensive mobile banking capabilities
  • Competitive rates on CDs
  • Free checking account available

Cons:

  • Minimum deposits required for all checking accounts
  • Low interest rates on savings account

16. Simmons Bank

If you’re looking for the best checking account among banks in Missouri, consider Simmons Bank, which offers impressive checking and savings accounts with plenty of branches throughout Missouri.

The bank’s free checking account has no minimum balance requirement or minimum opening deposit. Plus, you can withdraw cash at MoneyPass ATMs nationwide.

Pros:

  • Free checking account options
  • Multiple checking and savings accounts

Cons:

  • Competitive rates on CDs
  • Minimum deposit on savings account

17. First State Community Bank

First State Community Bank is well-represented in Missouri, with over 50 branches available for in-person service. They offer a hassle-free option for everyday banking with their Free eChecking account.

This account stands out by offering all the essential features you’d expect, without any monthly fees, as long as you sign up to receive electronic statements.

Pros:

  • Free checking account when you sign up for electronic statements
  • Round up debit transactions to boost your savings

Cons:

  • Opening deposit required for checking account
  • Limited branch locations

How to Choose the Best Bank in Missouri

When it comes to managing your finances, choosing from the best banks in Missouri is paramount to securing a fruitful financial future. While the “best” is subjective and varies based on individual preferences and needs, there are a few key factors to consider when making your selection. Here are some of these factors to help you make an informed choice.

Type of Financial Institution

Understanding the different categories of financial institutions can aid in making an informed decision that caters to your individual needs and financial objectives. Here, we look at the features and benefits of each type:

  • National banks: These banks provide a comprehensive array of offerings, including various loan options and investment services. With a national bank, you can access ATMs and branches across the country, making them a convenient option for individuals who favor accessibility and a wide range of services.
  • Regional banks: Serving a specific geographic region, regional banks offer services similar to national banks but with a more localized focus. They have a good network of branches and ATMs within their operating region. They can be the go-to option for individuals who prefer a bank that understands the local market nuances while offering a broad spectrum of services.
  • Community banks: Community banks primarily focus on the needs of the local community, providing more personalized services. They usually have branches limited to a specific community or region, fostering a close-knit banking experience. These banks are ideal for individuals who prioritize personalized service and community engagement over a wide array of services.
  • Online banks: Online banks operate solely on digital platforms, offering competitive interest rates and lower fees due to reduced overhead costs. They are a great choice for tech-savvy individuals who prefer banking from the comfort of their homes, prioritizing convenience and better interest rates.
  • Credit Unions: Owned by their members, credit unions often offer favorable interest rates and lower fees. They have a community-focused approach, providing personalized services to their members. A credit union can be an excellent choice for those looking for a community-centric financial institution that offers a more personal touch.

Financial Products and Services Offered

Different banks offer a range of banking products and services. From basic savings and checking accounts to more sophisticated financial instruments such as investment funds and retirement accounts. Ensure that the bank you choose offers the products and services that align with your financial goals and lifestyle.

Fees and Charges

Some of the best banks in Missouri offer low-fee or no-fee bank accounts, which can save you a substantial amount over time. Be sure to scrutinize any potential hidden fees, including ATM fees, overdraft charges, and monthly maintenance fees. Comparing the fee structures of various banks can lead you to the most economical choice for your banking needs.

Accessibility

Consider the accessibility of the bank’s physical locations and their online platforms. A bank with numerous branches and ATMs across the state will provide you with easy access to your funds. Additionally, a user-friendly online and mobile banking platform is vital for seamless banking transactions in this digital age.

Customer Service

Exceptional customer service is a signature trait of the best banks in Missouri. When choosing a bank, prioritize one that offers responsive support through multiple channels such as phone, email, and in-branch consultations. To ensure a satisfactory experience, consult reviews and testimonials of other customers’ interactions with the bank’s support staff.

Community Engagement

Many people appreciate banks that are involved in their local communities. Check if the bank engages in community services and supports local initiatives. Banks that foster community growth through various philanthropic activities often have a strong local presence and understand the needs of the residents.

Conclusion

Missouri is home to a wide array of banks, each offering unique strengths, such as customer service, mobile banking, and community involvement. As you weigh your options, remember that the optimal choice hinges on your personal financial circumstances and preferences. By pinpointing what is vital for you in a bank, you can find a partner that accommodates your needs seamlessly.

Frequently Asked Questions

In Missouri, there is a mix of prominent national banks such as Bank of America and U.S. Bank, and local favorites including Central Bank and Commerce Bank. While the large banks boast a broad array of services and widespread ATM access, Missourians often prefer local banks for their strong state presence and personalized services.

If you opt for a local institution, ensure that it’s covered by the Federal Deposit Insurance Corporation (FDIC) and consider the ATM accessibility, especially when you are on the move.

What is the best bank for small businesses in Missouri?

Selecting a bank for small business banking depends largely on specific needs such as invoicing clients or monitoring expenditures for tax documentation. For freelancers in Missouri, Axos is a viable option, whereas U.S. Bank stands out for its commendable money management features in its small business banking solutions.

Which Missouri bank is the most reliable?

Safety and reliability in banking often come with partnering with an FDIC-insured institution, guaranteeing the security of your deposits up to $250,000. Larger banks like Bank of America and U.S. Bank bring a legacy of stability and substantial assets, assuring them against default.

In addition, long-standing local banks such as First State, with over 150 years of operation, and Central Bank, established in 1902, offer reliable banking solutions.

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.

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.