Montana is a beautiful place to live, with its waterways and mountainous terrain. If you live and work in the state, you likely need a great place to park your money. The best banks in Montana give you everything you need to pay your bills and manage your money while also keeping fees to a minimum.
The banking industry in Montana is thriving, with a wide range of brick and mortar banks that include local, national, and regional banks. Online banking can be a great option, as well, offering reduced fees and savings rates that are above the national average.
14 Best Banks in Montana
This list offers a combination of different bank accounts to help you find the right combination of features to fit your needs.
1. U.S. Bank
U.S. Bank operates 21 branches across 14 towns in Montana. While the bank has ATMs throughout Montana, it doesn’t operate in every state. However, customers have fee-free access to 40,000 MoneyPass ATMs nationwide while traveling.
In addition, for a limited time, U.S. Bank is welcoming new applicants in 26 U.S. states with a special online offering:
- Earn up to $1,000 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 October 31, 2023. Member FDIC.
- Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible for Checking account.
The U.S. Bank Smartly checking account is an interest-earning account of 0.05% APY that doesn’t charge fees, provided certain conditions are met. Otherwise, there’s a monthly fee of $6.95. There’s also a $25 minimum deposit to open the account.
Those interested in more substantial earnings can consider CDs and money market accounts offering 4.75% and 4.00% APY respectively.
Additionally, the bank features a Smart Rewards program granting rewards for purchases, and for business owners, the potential to earn up to a $750 bonus with business checking accounts.
In Montana and beyond, Chime® is becoming a favorite choice for many because of its easy-to-use mobile app and a free Visa debit card. Chime’s checking account is a breath of fresh air, with no monthly fees1, no charges for overdrafts, and no foreign transaction fees. You can also open an account with no minimum opening deposit.
Worried about overdrafts? Chime has got you covered with its SpotMe® feature5, letting you overspend up to $200 without any extra charges.
Using Chime makes getting cash easy too. You can use over 60,000 ATMs across the country and even deposit cash at 75,000 retail spots. Another great perk is getting your paycheck two days early with their early direct deposit2 option.
If you’re looking to save, Chime’s savings account offers a high 2.00% APY3. So, if you’re in Montana looking for a user-friendly bank with great perks, Chime could be the one for you.
3. First Interstate Bank
First Interstate Bank is a popular choice in Montana and many other states, having branches in places like Wyoming and Washington. One big advantage of choosing this bank is being able to use lots of ATMs nationwide without paying extra fees.
With First Interstate Bank, you just need $100 to open a checking account. Plus, if you’re under 24, you won’t have to pay any monthly fees. Otherwise, there’s a $5 monthly fee that can be waived if you either set up a direct deposit or keep at least $250 in your account every day.
Saving with First Interstate can be a smart move. You can earn a nice bit of interest with their savings and money market accounts, or even more if you choose to open a CD account.
If you’re considering getting a new credit card, they offer a FirstRewards World Mastercard with a special bonus of 5,000 points when you open it with a checking account. They even provide wealth management services to help you make the most of your money.
GO2bank is an online-only bank that integrates all your banking functions into its app. You’ll get most of the features you need to manage your bank account in the app, including mobile check deposit and the ability to transfer money from checking to your savings account.
GO2bank is an online-only bank that offers straightforward checking and savings accounts with no minimum balance requirements. The highlight is the savings account with an impressive 4.50% annual interest on balances up to $5,000.
Depositing cash is easy with 90,000 retail locations available. With early direct deposit, you get access to your paycheck two days early and government benefits four days sooner.
Additionally, setting up direct deposit gets rid of the $5 monthly fee, and the bank offers a safety net of up to $200 through its overdraft protection plan for those unexpected financial moments.
GO2bank also offers a Secured Visa Credit Card, a useful tool in building a positive credit score.
5. Stockman Bank of Montana
Stockman Bank of Montana is a local bank. It stands as the largest family-owned bank in Montana, with several branches across the state.
Opening a free checking account is simple with a $100 minimum deposit, and there are no ongoing requirements for a minimum balance. You’ll also enjoy the benefit of having no monthly maintenance fees.
If you’re considering saving with a CD, the bank offers rates up to 4.39% APY, allowing you to grow your savings substantially over time. With its convenient locations and favorable terms, Stockman Bank of Montana is worth considering for your banking needs in the state.
6. Opportunity Bank of Montana
Opportunity Bank of Montana, located in Helena, is a community bank that extends its services nationwide through an expansive ATM network. They offer two free checking accounts to cater to different needs.
The Opportunity Checking account covers all the basic necessities. For those looking to earn as they spend, the Opportunity Reward Checking comes with a 1% unlimited cash back on qualifying purchases. To qualify, maintain a monthly direct deposit of at least $1,000 and make a minimum of 10 qualifying debit card transactions.
Opening an account is straightforward with a $100 initial deposit and there are no worries about maintaining a daily minimum balance. Plus, there are no monthly service fees to contend with.
This Montana bank also offers health savings accounts and Christmas savings accounts, and a variety of personal loans, adding to its appeal as a versatile banking choice in Montana.
7. Glacier Bank
Glacier Bank is a regional bank that has over 220 branches in Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona, and Nevada. The checking account comes with no monthly fees, and there is no minimum deposit or balance required to maintain your account.
You’ll have the freedom to withdraw cash without charges at any Glacier Bank or at over 55,000 Allpoint ATMs around the world. This is particularly useful for those who travel frequently or find themselves in different parts of the world.
Glacier Bank also offers rich business banking services to help enterprises develop and oversee their finances effectively. Moreover, new personal and business checking account holders will be welcomed with a special thank-you gift, adding a personal touch to your banking experience.
Chase Bank has a solid presence in Montana with branches in cities like Helena and Billings. It also stands as a national powerhouse with over 4,800 branches across 48 states and D.C.
A popular choice is the Chase Total Checking account, a popular choice that can be maintained without a monthly fee if you meet certain conditions such as having electronic deposits totaling at least $500 monthly, or keeping a certain balance.
The account comes with no demands for a minimum opening deposit or minimum balance requirement, giving you flexibility in managing your finances. If you’re looking to save, their CDs offer rates up to 3.75% APY, providing a promising avenue for investment.
New customers opening a checking account can get a welcome bonus of $300, and AutoSave allows easy transfers to your savings account, promoting effortless savings.
9. Farmers State Bank
Farmers State Bank is a community bank with several locations in Montana. You can start an account with a modest opening deposit of $25, and enjoy no monthly fees and no ongoing minimum balance requirements.
The bank offers competitive rates for those looking to save, with up to 2.27% APY on money market accounts and as high as 4.59% APY on CDs.
In addition, Farmers State Bank stands out with its additional offerings such as consumer and business loans to support your financial goals. They also foster education through their scholarship program for students, showing their commitment to the community.
10. Trailwest Bank
Trailwest Bank, locally owned and operating in Ravalli, Missoula, Mineral, and Flathead counties, offers residents checking and savings options that come with a welcoming community touch. With an initial deposit of just $25, you can open a checking account that does not demand a daily minimum balance.
The rewards checking account dishes out unlimited ten cent rewards with each purchase made using the associated debit card, all without incurring fees. This means every purchase comes with a small bonus back into your account.
The bank further enhances its services by offering a range of personal loans to cater to various financial needs, along with business checking and savings accounts for entrepreneurs.
Ally shines as an online bank, especially with its attractive interest rates across multiple accounts. Its checking yields up to 0.25% APY, and the savings account offers an impressive 3.85% APY. A highlight for Ally account holders is the ‘spending buckets’ tool, aiding in effective budget management.
Ally Bank is customer-friendly with no monthly or overdraft fees. Opening an account is straightforward, without any minimum deposit or daily balance constraints. Additionally, Ally provides free access to over 53,000 Allpoint ATMs nationwide and reimburses up to $10 monthly for non-network ATM fees.
Their CDs and money market accounts boast 4.80% and 4.15% APY respectively. Additionally, features like Robo Portfolios and CoverDraft enhance the overall banking experience, which makes Ally a top choice for many.
12. Independence Bank
Independence Bank stands out as a favored option among local Montana banks, featuring multiple physical branches throughout the state. It prioritizes in-person customer service, something characteristic of brick-and-mortar banks.
Customers can select from several checking accounts, such as the Freedom Checking account. This account grants unrestricted check-writing privileges, along with access to online and mobile banking facilities. Essential features including free direct deposit, a debit card, and eStatements are also part of the package.
Independence Bank also offers substantial business checking accounts. Furthermore, account holders who are 60 years and above enjoy special benefits, adding a nice touch to its service offerings.
13. Valley Bank of Kalispell
Valley Bank of Kalispell has been a reliable part of the community for over a century, operating with a main office in downtown Kalispell and a loan office in Eureka. This bank offers a selection of basic checking accounts without monthly maintenance fees, each designed to suit different needs.
Getting started with Valley Bank is relatively straightforward with a $50 minimum deposit and no ongoing balance requirements. Customers can also take advantage of fee-free withdrawals at both Valley Bank and nationwide MoneyPass ATMs. They also present a broad spectrum of auto and recreational vehicle loan options, further accommodating the diverse needs of their clientele.
14. Wells Fargo
Wells Fargo is a national bank with a presence in 37 states through its 4,900 branches. A notable offer is the $300 bonus that new clients can secure by opening an Everyday Checking Account with a mere $25 and ensuring a total direct deposit of at least $1,000 within the initial 90 days.
Although there is a $10 monthly fee, meeting certain conditions can have it waived. The bank doesn’t enforce a daily minimum balance rule but does necessitate a $25 opening deposit.
Customers can also earn interest with rates reaching up to 2.51% APY on savings accounts and 4.51% APY on CDs. In addition, the mobile banking app grants users access to their FICO score.
How to Choose the Best Bank in Montana
Selecting among the best banks in Montana is a significant step in securing a financial pathway that caters to your lifestyle. It involves analyzing various elements that can fundamentally impact your banking experience. To help you make an informed decision, we’ve outlined the following factors:
Given Montana’s expansive landscape, proximity to physical bank branches can be a decisive factor. Many of the best banks in Montana offer an extensive network of branches, facilitating convenient access to banking services. Consider how vital in-person banking is to you and choose a bank that caters to this need proficiently.
Banks have different fee structures, including monthly maintenance fees, ATM usage charges, and overdraft fees. A bank that offers low or no fees can potentially save you a significant amount of money in the long run. Delve into the fee structures of different banks to find the one that is most economical for you.
Whether you’re looking for the best savings accounts, the best checking accounts, or CDs, interest rates can be a deal-breaker. Many of the best banks in Montana feature competitive interest rates, so you can maximize your savings. Always compare rates on various financial products before making your choice.
Safety and Security
Ensuring your deposits are safe should be a top priority. The best banks in Montana are insured by the Federal Deposit Insurance Corporation (FDIC), which means your deposits are typically protected up to $250,000 per depositor, per bank. This protection gives you peace of mind knowing that your money is secure.
Banks often lure customers with a range of additional perks, such as rewards programs, signup bonuses, and other financial incentives. Evaluate the perks offered by various banks and assess how beneficial they will be in your financial landscape.
Online and Mobile Banking
In today’s world, convenient online and mobile banking services are a must. The best banks in Montana offer secure and user-friendly platforms, accessible through both websites and mobile apps. Features usually include mobile check deposits, bill pay, and easy account management. Ensure your chosen bank provides these modern amenities to facilitate smooth banking operations.
Lastly, consider the quality of customer service. Responsive and helpful customer service can make your banking experience smooth and hassle-free. Take time to read reviews and possibly consult with current customers to get a sense of the service quality at different banks.
Remember, the “best” bank will vary based on individual preferences. Take time to assess your financial habits and goals, and use this understanding as a guideline to choose from the best banks in Montana. It might be beneficial to create a list of non-negotiables to help streamline your decision process further.
Types of Banks to Consider in Montana
When searching for the ideal banking partner in Montana, it is essential to understand the different types of banks available and what each one offers. Here, we outline the major categories of financial institutions you might consider:
National banks have a presence across the country, often complemented by a wide array of services including personal and business banking, loans, and investment solutions. These banks are characterized by a vast network of branches, providing convenience, especially if you travel frequently or have financial interests in different states. Some popular national banks in Montana include U.S. Bank, Wells Fargo, and Chase.
Regional banks operate in specific areas of the country, offering a somewhat narrower range of services compared to national banks. They balance the blend of local insights with the capabilities to offer a wide array of services. Banks like Glacier Bank and Stockman Bank of Montana are examples of regional institutions with a significant presence in the state.
Community banks are smaller financial institutions focused on serving the local residents of a specific area. They are known for their personalized service and deep understanding of the local community’s needs. Banks such as Valley Bank of Kalispell and Farmers State Bank fall into this category, providing a range of services tailored to meet the needs of Montanans.
Online banks operate exclusively on the internet, offering services without brick-and-mortar locations. These banks often offer competitive interest rates and lower fees due to their lower overhead costs. Chime, GO2bank, and Ally are examples of online bank providing Montanans with a range of services including online checking accounts, high-yield savings accounts, and budgeting tools.
Credit unions are member-owned financial cooperatives that offer a range of banking services, typically at lower costs than commercial banks. They are known for their community-focused approach and generally offer personalized services to their members. In Montana, you can find several credit unions catering to different communities, providing a more personalized level of service.
Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A.; Members FDIC. Credit Builder card issued by Stride Bank, N.A.
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.