10 Best Banks in Virginia for 2024

Offering a diverse range of checking accounts, First Citizens Bank includes a free checking option for those who opt for electronic statements. This account eliminates the need for a minimum balance, comes equipped with a complimentary Visa debit card, and offers overdraft protection.

The bank ensures a user-friendly experience with no monthly maintenance fees and a low minimum opening deposit of $50 for online account setups. While savings and money market accounts have modest interest rates, First Citizens Bank offers attractive CD rates, up to 5.00% APY.

First Citizens Bank’s ATM network is tailored to its own machines, conveniently located in various states. Be aware that transactions at non-network ATMs incur a $2.50 fee, in addition to any fees charged by the ATM’s owner.

In addition to these banking services, First Citizens Bank also provides competitive rates for home improvement loans and various credit cards, each with its own set of rewards and benefits.

SoFi’s online savings account boasts a high annual percentage yield (APY) of 4.60%, making it an attractive option for savers. Their checking accounts are equally noteworthy, offering a 0.50% APY without any monthly fees.

A standout feature of SoFi is its early direct deposit facility, allowing users to access their paycheck up to two days earlier than traditional banking methods.

Security is a priority at SoFi, evident in their provision of FDIC insurance up to $2 million, significantly higher than many other banks.

With qualifying direct deposits, there are no overdraft fees, and SoFi offers coverage up to $50 in such cases.

New customers are greeted with a welcome bonus ranging from $50 to $300, based on the direct deposit amount set up. Finding an ATM is convenient with SoFi, thanks to their access to over 55,000 Allpoint® Network ATMs nationwide.

With a history that dates back to the 19th century, First Community Bank has evolved to meet the modern financial needs of its customers while maintaining its core values of compassion, trust, drive, and progress.

Their offerings include personal and business banking solutions, such as checking and savings accounts, money market accounts, loans, credit cards, IRAs, CDs, and investment services. They also provide modern banking conveniences like online banking and mobile banking apps, designed to offer ease and flexibility to their customers.

This blend of traditional banking services with contemporary technology makes First Community Bank a suitable choice for those who value both personalized service and digital convenience.

The Carter Savings Account, another notable product, allows customers to avoid a $5 monthly fee by maintaining a balance of $100 or more. An innovative aspect of their savings program is the Carter Ca$h giveaway, offering customers a chance to win substantial cash prizes, thereby encouraging regular savings.

In addition to traditional banking services, Carter Bank & Trust also offers credit cards, loans, and mortgages, demonstrating its commitment to providing comprehensive financial solutions. Their dedication to community and customer-focused services has earned them recognition, including awards from local communities.

This account comes with a $12 monthly fee, which can be waived by meeting certain conditions such as maintaining a minimum balance or receiving a regular direct deposit.

The bank’s network features over 15,000 ATMs nationwide, allowing convenient and fee-free cash withdrawals. For those interested in saving, Chase offers competitive rates on CDs. Additionally, Chase is noted for its range of high-quality rewards and travel credit cards, catering to various financial needs and lifestyles.

The 360 Checking account is a notable product with no monthly maintenance fees, a free checkbook, unlimited check writing, and a Mastercard debit card. In addition to checking accounts, Capital One’s 360 Performance Savings offers a high-yield savings account with attractive interest rates.

For those looking for term-based savings, Capital One’s certificate of deposit (CD) options vary from 6 to 60 months, with no minimum deposit required. Additionally, the bank caters to younger customers with its MONEY Teen Checking and Kids accounts, designed to promote savings habits from an early age.

Capital One’s mobile app is highly acclaimed for its user-friendly features. It allows customers to deposit checks, set custom alerts, track expenses, access account statements, and use Zelle. Furthermore, the app includes CreditWise, a tool for monitoring and understanding credit scores.

Fee-free banking is a key benefit at Navy Federal, with no minimum deposit requirements. They also reimburse up to $120 in annual ATM fees for using non-network ATMs.

Their checking accounts have no monthly fees and offer a 0.05% APY. Higher earnings are available with their money market accounts and CDs, offering up to 2.25% and 4.85% APY, respectively.

Beyond banking, Navy Federal provides competitive rates on loans and a cashRewards Credit Card with a $250 bonus for new signups.

Opening a Truist checking account is simple, requiring only a $50 initial deposit and no minimum balance requirements. Although there’s a $12 monthly fee, several options are available to have it waived.

This includes setting up a monthly direct deposit of $500 or more, maintaining a daily balance of $500 across Truist accounts, or holding a qualifying Truist credit card or loan. Students aged 25 or younger also benefit from a fee-free account.

Beyond checking accounts, Truist extends its services to include Health Savings Accounts (HSAs), prepaid cards, mortgages, home equity lines of credit, personal loans, investment products, retirement accounts, and insurance options.

The Truist Mobile app complements these services by enabling easy account management, mobile check deposits, and convenient money transfers.

Their personal banking solutions include various checking and savings accounts, catering to different customer needs. They also provide credit card services and diverse loan options, from personal to home and auto loans.

For business clients, Atlantic Union Bank offers specialized services like treasury management and merchant services. This array of offerings showcases their commitment to supporting both individual and corporate financial goals. Their blend of traditional banking services with modern digital banking solutions makes them a reliable and comprehensive financial partner in the region.

To open a basic checking account, a customer needs to deposit $100 initially, along with a $12 monthly maintenance fee. However, there’s no ongoing minimum balance requirement, ensuring flexibility for customers.

Additionally, Bank of America provides competitive interest rates on CDs, with rates as high as 4.75% APY. Their offerings extend to attractive bonuses for new credit card account openings and access to Merrill Edge for wealth planning and investment services, making them a versatile banking option for a wide range of financial needs.