Which state has the best banking system?
North Dakota ranks higher than any other state (and Washington, D.C.) when it comes to banks and credit unions per capita. The state has roughly 64 banks and credit unions for every 100,000 residents.
- Best Banks of 2024.
- Capital One Bank.
- Chase Bank.
- Axos Bank.
- Discover Bank.
- Synchrony Bank.
- TD Bank.
- Regions Bank.
| Bank | Forbes Advisor Rating | Products |
|---|---|---|
| Chase Bank | 5.0 | Checking, Savings, CDs |
| Bank of America | 4.2 | Checking, Savings, CDs |
| Wells Fargo Bank | 4.0 | Savings, checking, money market accounts, CDs |
| Citi® | 4.0 | Checking, savings, CDs |
What bank operates in all 50 states? No bank currently operates a branch location in all 50 states, though several of the nation's largest institutions come close. Chase Bank, for one, has over 4,700 branch locations in 49 states and Washington D.C. Wells Fargo also offers around 4,600 branches in 36 states.
| Ranking | Bank | Headquarters |
|---|---|---|
| 1 | JPMorgan | Chase New York, NY |
| 2 | Bank of America | Charlotte, North Carolina |
| 3 | Citibank | New York, New York |
| 4 | Wells Fargo | San Francisco, California |
- JPMorgan Chase. At the top of the list, JPMorgan Chase holds close to $3.38 trillion in assets. ...
- Bank of America. With approximately $2.45 trillion in consolidated assets, Bank of America is second on the list. ...
- Citi. ...
- Wells Fargo. ...
- U.S. Bank/U.S. Bancorp. ...
- PNC. ...
- Truist Bank. ...
- Goldman Sachs.
- 1: Wells Fargo. Worst Bank Overall. ...
- 2: Citibank. Worst Bank Runner-up. ...
- 3: Bank of America. Most Complaints Overall. ...
- 4: Capital One. Most Better Business Bureau Complaints. ...
- 5: Discover. Highest Rate of Complaints. ...
- 6: Citizens Bank. Worst Fees Overall. ...
- 7: Flagstar Bank. ...
- 8: Fifth Third Bank.
- Ally Bank.
- Citizens Bank.
- Bank of the West.
- US Bank.
- SunTrust.
- Union Bank.
- Wells Fargo.
- HSBC.
- Wells Fargo. Wells Fargo is the worst bank overall, with a high percentage of unresolved complaints and loss of Better Business Bureau accreditation.
- Citibank. ...
- Bank of America.
Which banks get hacked the most?
- Equifax Data Breach. ...
- Heartland Payment Systems Data Breach. ...
- Capital One Data Breach. Date: March 2019. ...
- JPMorgan Chase Data Breach. Date: October 2014. ...
- Experian. Date: August 2020. ...
- Block. Date: Apr 2022. ...
- Desjardins Group. Date: June 2019. ...
- Westpac Banking Corporation. Date: June 2013.
Over a few weeks in the spring of 2023, multiple high-profile regional banks suddenly collapsed: Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank. These banks weren't limited to one geographic area, and there wasn't one single reason behind their failures.
Chase: Great sign-up bonus for checking; more than 4,700 branches and 16,000 ATMs. Bank of America: Polished online experience and a virtual financial assistant in the mobile app; about 3,900 branches and about 15,000 ATMs. Wells Fargo: Easy-to-waive monthly fees on checking; about 4,400 branches and about 11,000 ATMs.
- Best overall: Capital One 360® Checking Account.
- Runner-up: Ally Bank Spending Account (Ally's checking product)
- Best for rewards: Discover® Cashback Debit Checking.
- Best for out-of-network ATMs: Alliant Credit Union High-Rate Checking Account.
The Bank of North Dakota (BND) is a state-owned, state-run financial institution based in Bismarck, North Dakota. It is the only government-owned general-service bank in the United States.
Chase and Wells Fargo are well known brands, and they have the most branches in the U.S. They're also the most popular bank in 30 percent of the 50 states. Chase now has the most locations in the U.S. and the most branches in seven states. But Wells Fargo has the most branches in eight states and Washington, D.C.
Recently, a report posted on the Social Science Research Network found that 186 banks in the United States are at risk of failure or collapse due to rising interest rates and a high proportion of uninsured deposits.
However, because credit unions serve mostly individuals and small businesses (rather than large investors) and are known to take fewer risks, credit unions are generally viewed as safer than banks in the event of a collapse. Regardless, both types of financial institutions are equally protected.
Future Treasury Secretary Alexander Hamilton founds the Bank of New York, the oldest continuously operating bank in the United States—operating today as BNY Mellon.
| Institution | BBB grade |
|---|---|
| Ally | A |
| Bank of America | A- |
| Citi | F |
| Golden 1 | A+ |
Is a credit union better than a bank?
Credit unions tend to offer lower rates and fees as well as more personalized customer service. However, banks may offer more variety in loans and other financial products and may have larger networks that can make banking more convenient.
There isn't a clear answer on which bank is more trustworthy. The Better Business Bureau has given JPMorgan Chase & Co. (Chase's parent company) an A- rating and Bank of America an A- rating.
Banks with the most overall complaints
The four banks with the largest total number of complaints included JPMorgan Chase with 8,360 complaints followed by Wells Fargo &Company (8,329), Bank of America (8,038) and Citigroup (6,747).
Data from FairShake highlights Wells Fargo as the most hated bank in 9 states, earning a concerning 1.06/5 rating from BBB customer reviews. Credit One garnered a staggering 55% ratio of 1-star ratings on Consumer Affairs, showcasing the highest proportion among the banks listed.
- Bank of America Corp.
- The Bank of New York Mellon Corp.
- Citigroup Inc.
- The Goldman Sachs Group Inc.
- JPMorgan Chase & Co.
- Morgan Stanley.
- State Street Corp.
- Wells Fargo & Co.
