California, being one of the largest states in the country, offers residents numerous options for personal banking. Banks in the Golden State provide a wide range of products to meet various needs, including competitive interest rates on savings accounts, reasonable bank fees, and modern conveniences.
To help you find the best options, I’ve done the research to narrow down the top banks in California. Keep reading to discover the banks with the best savings and checking accounts, as well as the most accessible banking options in the state.
>> Apply for an Axos Account Today! >>
, based in California, is recognized as the best overall for its digital-first approach to banking. Axos offers a competitive APY on its high-yield savings account and provides customers with convenient access and free domestic ATM fee reimbursements across multiple checking accounts with no monthly maintenance fees.
Axos stands out as one of the few online business banks that make it easy for business owners to deposit cash. Account holders can use any compatible Allpoint or MoneyPass ATM to make deposits without additional fees. Moreover, if you’re ever charged an ATM fee in the U.S., Axos will automatically refund it.
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>> Axos – Top Personal Bank California >>
For California residents, Chime Bank is an excellent option for personal banking due to its user-friendly features, extensive ATM network, and innovative financial tools.
Chime has become a popular choice among online banks, appealing to tech-savvy users and those seeking to avoid traditional banking fees.
Chime offers an early direct deposit feature, allowing users to access their paychecks up to two days earlier than traditional banks. This provides quicker access to funds and greater financial flexibility.
With access to over 60,000 fee-free ATMs through the Allpoint and MoneyPass networks, California residents can easily find an ATM without additional fees, making cash withdrawals convenient.
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>> Apply for a Chime Bank Account Today! >>
One of SoFi’s main attractions is its high-interest savings accounts, which offer competitive rates that significantly outperform many traditional banks. This makes SoFi particularly appealing to those looking to maximize their savings. Californians choosing SoFi can grow their savings faster and reach their financial goals more efficiently.
SoFi also offers a range of member benefits designed to enhance customers’ financial well-being. These include access to career coaching, financial planning, and exclusive events. SoFi members gain valuable resources and support to help them achieve both personal and professional goals.
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>> Apply for a SoFi Bank Account Today! >>
(BofA) is a strong option for personal banking in California for several reasons. As one of the largest and most established financial institutions in the United States, BofA offers a range of benefits that cater to various banking needs.
For those who prefer in-person banking, Bank of America provides substantial convenience. With nearly 450 branches across California, you can easily find an ATM or get access to in-person assistance when needed.
Although their savings APY isn’t as high as what online banks offer, Bank of America provides a wide range of other financial products, including credit cards, home and auto loans, and investment services through Merrill.
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>> Apply for a Bank of America Account Today! >>
has become a compelling choice for personal banking in California, offering modern digital banking services with features tailored to meet the needs of today’s consumers.
One standout aspect is its high-yield savings account, which provides competitive interest rates significantly higher than those at traditional banks, making it an excellent option for individuals looking to grow their savings efficiently.
Upgrade’s strong commitment to customer service further enhances its appeal. Customers can access support through various channels, ensuring assistance is available when needed. The bank’s transparency and straightforward approach to financial products help users understand terms and conditions, avoiding hidden fees and complex agreements.
As a personal California bank account, Upgrade combines high returns on savings, accessible credit options, and excellent customer service, presenting a modern banking solution that aligns well with contemporary financial needs.
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>> Apply for an Upgrade Bank Account Today! >>
For three consecutive years, U.S. Bank has earned the top ranking for Customer Satisfaction in California by J.D. Power. It boasts the lowest monthly fee among national banks, which can easily be waived. The bank’s digital tools provide a convenient banking experience, with its mobile app receiving top rankings from industry benchmarking firm Keynova Group for three years in a row.
According to J.D. Power’s 2017 U.S. Retail Banking Satisfaction Study, U.S. Bank ranked second overall. This study evaluates various factors, including how well a bank handles customer issues, branch availability, fee schedules, and product offerings, offering a comprehensive insight into customer interactions.
U.S. Bank also provides a wide range of financial products beyond standard savings and checking accounts. Customers can open money market accounts, apply for credit cards, and access various loan options.
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>> Apply for a U.S. Bank Account Today! >>
is an excellent option for personal banking in California, especially for those who value online banking convenience and competitive interest rates. One of Discover Bank’s standout features is its high-yield savings account, which offers interest rates significantly above the national average. This makes it ideal for individuals looking to maximize their savings.
Additionally, Discover’s certificates of deposit (CDs) offer competitive rates, allowing customers to lock in higher interest for fixed terms. This combination of high returns on savings products sets Discover apart from many traditional banks.
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>> Apply for a Discover Bank Account Today! >>
Selecting a bank is a highly personal choice, and what works for someone else may not be ideal for you. Consider what’s most important to you in a bank, and compare your options to find the best fit.
If you prefer the personal touch of a physical bank, look for banks in your area of California that meet your needs.
While many traditional banks now offer digital banking, they often lack the competitive APYs of the best online banks. If you’re comfortable with online banking, an online bank can help you avoid fees and access higher interest rates. Credit unions can offer similar benefits if you qualify for membership.
Remember, you don’t have to do all your banking in one place. Using multiple banks could be beneficial if you like features at different institutions.
Choosing the right bank depends on your financial circumstances, preferences, and needs. Consider these factors when selecting a financial institution:
Ensure that the banks you’re considering offer the accounts and services you need. Common account types include checking accounts, savings accounts, CDs, and money market accounts. Full-service banks may also offer credit cards, loans, and investment services.
You might prefer to use multiple banks to take advantage of their different strengths. For example, one bank might offer excellent CD rates, while another provides more convenient in-person branch access.
Banks often charge fees for various services. These can include service fees for not maintaining a minimum balance, overdraft fees, NSF fees, excessive withdrawal fees, ATM fees, late payment fees, and wire transfer fees. High fees can erode your savings.
Online banks and credit unions usually offer higher interest rates on deposit accounts than traditional banks. Competitive APYs can help you maximize your savings.
Accessibility is crucial. Look for a bank that makes it easy to manage your accounts. If you frequently need cash, find a bank with fee-free ATM access. A highly rated mobile banking app allows you to manage your money 24/7 from anywhere and often includes features like online bill pay and mobile check deposits.
There will be times when you need assistance with your accounts. If speaking with a real person is important to you, choose a bank with local branches or personal customer support by phone. Some banks offer chat support, virtual assistants, and other digital support services. Select a bank with support options that align with your communication preferences.
>> Axos – Top Personal Bank California >>
Traditional banks often have lower interest rates on savings accounts and higher fees compared to online-only banks. However, they offer the benefit of physical branches for in-person services and cash deposits.
To switch banks, start by opening a new account at your chosen bank. Next, transfer your funds, update any direct deposits or automatic payments, and then close your old account. Make sure to leave enough funds in the old account to cover any pending transactions during the transition period.
Yes, online-only banks can be an excellent choice because they typically offer higher interest rates on savings accounts and lower fees than traditional banks. However, if you prefer in-person banking services or frequently need to deposit cash, an online-only bank might not be the best option for you.
>> Open an Axos Account Now! >>
California residents have numerous excellent options when choosing a new bank or credit union. For those seeking wide access and national coverage, Axos, Bank of America, Chime, and SoFi are great choices.
Ultimately, the best bank for you will depend on your individual financial goals and lifestyle. Whether you prioritize high interest rates, fee transparency, digital convenience, or robust customer service, California offers excellent options to meet your needs.
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