Updated August 24, 2024

Best Banks in Florida

By Jeremy Harshman
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Are you a Floridian trying to find a new bank? It's easy with this helpful guide to the best banks in Florida. Read on to learn more.

As a Florida resident, you've got plenty of banks to choose from.

And all the info you need to find the best one for you is right here.

In this guide, get a list of the highest-quality banks in Florida for checking, savings, and more.

10 Best Banks in Florida

We considered a variety of factors to find the best banks in Florida, including accounts offered, interest rates, and branch accessibility.

Your bank plays a big role in your everyday life, especially when it comes to convenience and customer service. But choosing doesn't have to be an ordeal. Find your ideal bank below.

The Best Banks in Florida
  1. Wells Fargo: Best Overall
  2. Bank of America: Best National Bank
  3. Chase Bank: Best for Checking
  4. Regions Bank: Best Regional Bank
  5. Capital One: Best Free Checking and Savings
  6. Discover® Bank: Best for Savings
  7. Suncoast Credit Union: Best Credit Union
  8. PNC Bank: Best Full-Service Banking
  9. Ally Bank: Best Online Bank
  10. Fifth Third Bank: Best Customer Service

How do you choose a bank? The bank you choose in the end will depend on your own needs. Do they serve your area? Are you looking for personal banking or business banking? Does the bank offer the services you're seeking at a price you can manage? And, of course, do they have any branches that won't take you an hour out of your route?

Wells Fargo: Best Overall

Floridians can't go wrong with Wells Fargo, our pick for the top bank in the sunshine state. Outdoing even other major banks like Bank of America and Chase, Wells Fargo has 522 banking locations in the state of Florida. That means you're likely to be able to find a convenient branch just about no matter where you live.

Operating for nearly 100 years, Wells Fargo has the experience to satisfy their customers' needs, and size which means stability and security for managing wealth for both individuals and businesses.

Speaking of businesses, Wells Fargo is a top small business lender, according to reports by the Small Business Administration (SBA), making them a solid choice if you run your own business.[1]

They're also recommended by their commitment to transparency, providing public visibility to the interest rates on their loans, which other banks often do not.

If you're looking to open a bank account, Wells Fargo has a number of excellent options to choose from.

Bank of America: Best National Bank

If for some reason Wells Fargo isn't the right fit for you, but you still want to pursue a larger US bank, we recommend Bank of America While it doesn't have quite as many branches in Florida, it still has an impressive number, with 492 branches.

And with thousands of ATMs and financial centers across the country, you can pretty much guarantee that whether you're in your home state or traveling around the country, you'll have convenient, ready access to your finances.

Not that you need to visit a branch to get most things done with Bank of America.

Thanks to a convenient mobile app boasting over 56 million verified users, Bank of America customers can do most of what they need to do on the go, whether it's paying bills, cashing checks, or managing a checking or savings account.

Between their size, their experience, and their dedication to offering quality banking services in the digital age, Bank of America is an outstanding option for residents of Florida and everywhere else.

Chase Bank: Best for Checking

If you ever need to bank in-person, you can rest assured that you're probably close to a Chase Bank location. With more than 4,700 branches and 15,000+ Chase ATMs in the U.S., they have 400 branches and roughly 1,600 ATMs in Florida alone.

And thanks to an easy-to-use mobile app, Chase users can do much of their banking online.

Chase's interest rates aren't quite as good as you'd find at an online bank like Ally, but they do frequently offer promotions and generous sign-up bonuses.

Those change regularly, so it's good to check back and stay up to date with what they're offering.

Chase's checking accounts come with the usual features: debit card access, online banking services, automatic transfers and more. If you have a little one, you can also open a Chase First Banking account, an account for families with a debit card for kids that has no overdraft fees for negative balances less than $50.

*With Chase Overdraft AssistSM, Chase won't charge an Overdraft Fee if you're overdrawn by $50 or less at the end of the business day OR if you're overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.

Regions Bank: Best Regional Bank

For Floridians looking for service that's a little closer to home, consider Regions Bank, a top regional bank operating in the South, Midwest, and Texas, and headquartered in Birmingham, Alabama.

Though Regions Bank is smaller than some of the biggest names in banking like those mentioned above, they still operate an impressive 354 branches in Florida, with 585 ATMs.

And locations in most of the surrounding states mean that even if you like to travel, you'll have to go quite a ways to find yourself outside their range.

Regions offers every service you could ask for as a banking customer, including personal checking and savings accounts, loans and lines of credit, investments, financial planning, as well as a variety of option for business owners.

Capital One: Best Free Checking and Savings

Capital One is a popular bank you've probably heard of. It's not exclusively online, but it does favor online banking capabilities.

Customers can sign up for free checking and savings accounts that offer nice returns compared to competitors.

The Capital One 360 Checking account has no monthly fee and pays a modest interest amount with a $0 minimum balance—not bad for a checking account.

In addition to their own ATMs, which are fewer and farther between than some other major banks, Capital One customers also have access to the Allpoint and MoneyPass networks. That means access to a total of over 70,000 ATMs.

The Capital One 360 Performance Savings account pays slightly higher interest, still with no minimum. Capital One's rates are less than you'll find at Ally, but in combination with their other services, may prove worthwhile.

Related: Best Free Checking Accounts

Discover® Bank: Best for Savings

Discover® Bank offers decent rates for their Online Savings account.

The Discover® Bank Online Savings account has no minimum balance. Discover Bank also offers a range of CDs. Rates are comparable with some of the best rates on the market for similar products.

Suncoast Credit Union: Best Credit Union

Suncoast Credit Union is our pick for the top credit union in Florida.

Why choose a credit union over a bank? While credit unions are smaller and may offer fewer features than major banks, they make up for it in low costs, lack of fees, and customer service.

Like most credit unions, membership to Suncoast Credit Union is somewhat restricted. They have branches across western Florida, and membership is available to residents of that region, alumni of Florida College, and family of current members.

The Suncoast Credit Union Smart Checking account is a dividend-earning checking account with no monthly fees and no minimum balance.

Unfortunately, its low costs don't also mean a high interest rate on savings like you'll find at an online-only bank such as Ally. If you're looking for higher returns, you might consider a Suncoast Credit Union CD for 1- to 5-year deposits of $500 or more.[2]

Credit unions offer the same products as banks but with added perks. Review our list of the best credit unions for saving, checking, auto loans, and more.

PNC Bank: Best Full-Service Banking

Another solid regional bank for Florida residents to consider is PNC Bank, which offers retail banking services primarily in the eastern half of the United States.

PNC Bank has 184 branches and is approaching 400 ATMs in Florida, giving them a sizable footprint in the state, with approximately 2,300 branches in the US altogether.

PNC customers have access to a range of personal banking services including checking and savings accounts, and their PNC app makes it easy to bank on the go.

Get access to credit cards, borrowing services for homes, cars, and more, as well as options for students and members of the military.

Ally Bank: Best Online Bank

If you live in Florida and love digital banking, Ally Bank is a top choice. As an online-only bank, Ally offers everything from checking and savings accounts to credit cards and loans, all with great rates to help your money grow.

Even without physical branches, you can use over 43,000 fee-free Allpoint ATMs nationwide, making it easy to access your cash. Their online and mobile banking platforms are super user-friendly and packed with handy tools.

Plus, with 24/7 customer service, you can get help whenever you need it, no matter where you are.

Fifth Third Bank: Best Customer Service

For Florida residents wanting a personal touch in banking, Fifth Third Bank is a great choice. With over 170 locations in the Sunshine State and 1,100+ branches across the Midwest and Southeast, they offer regional service with a local feel.

Fifth Third Bank has a variety of banking products, like checking and savings accounts, CDs, and credit cards. In fact, for a fee-free option for daily use, consider their Fifth Third Momentum Checking.

Plus, Fifth Third Bank is renowned for its friendly and personalized service. According to J.D. Power's 2024 U.S. Retail Banking Satisfaction Study, they were named the top bank for customer satisfaction in Florida.[3] They offer a perfect blend of local convenience and comprehensive banking solutions.

Types of Banks in Florida

Here's a look at the different types of banks you can find in Florida:

National banks
National banks, overseen by the U.S. Treasury, offer a broad range of financial products including banking services, credit cards, loans, and investments. They often provide easy access to their services with branches and ATMs available in multiple states.

Regional banks
Regional banks serve specific areas, like a state or region. While they have fewer branches than national banks, they offer more personalized service and understand the local community's unique needs.

Online banks
Online banks operate entirely online, so you won't find physical branches. Instead, you can manage everything through their website or mobile app and use ATMs for cash withdrawals.

Since they don't have the overhead of maintaining branches, online banks often offer higher interest rates, no service fees, and lower balance requirements.

Credit unions
Credit unions offer banking services like checking and savings accounts, but their main focus is serving their members rather than making a profit. As member-owned institutions, they often provide better savings rates and lower loan rates.

Keep in mind, though, that they have membership requirements and might offer fewer services compared to traditional banks.

Tips on Banking in Florida
Finding the right bank is a breeze when you compare rates, fees, and services to discover one that delivers excellent value and outstanding customer support. Don't hesitate to give them a call, visit a branch, or dive into their website for all the details. With so many options available, you'll find a bank that perfectly aligns with your personal preferences and financial needs, making your banking experience smooth and enjoyable.

How to Choose the Best Bank in Florida

Just like you're laying down roots in Florida, your money also needs a financial home. Here's what to consider when choosing the right bank:

Accessibility
Convenience is key. Choose a bank with branches close to your home and work, so you have easy access to ATMs and in-person support.

Checking and savings accounts
Pick a bank with the accounts and features you need. For example, some banks' checking accounts may have overdraft assistance or free budgeting tools.

Monthly fees
Some banks (especially traditional banks) charge a monthly fee unless you maintain a certain minimum balance or meet other criteria. This doesn't have to be a dealbreaker, as long as you can easily meet the requirements.

Additional services
Looking for more than banking? Banks usually also offer credit cards, loans, investment tools, and small business products. Look into the bank's other services if you want a one-stop-shop.

How to Open a Bank Account in Florida

Opening an account at a bank or credit union is easier than you might think, and the steps are pretty much the same everywhere. Here's how it usually goes:

  1. Go to the website or visit a physical branch of your chosen bank.
  2. Complete the application form for your chosen product. You'll need to provide basic information such as your name, address, SSN, a valid ID, etc.
  3. Submit your application and fund your account.

Keep in mind, when opening an account with a credit union, you'll need to meet their membership requirements first.

Bottom Line

There are a lot of excellent options for banking in the Sunshine State. For Floridians who aren't interested in visiting a physical branch, even major banks like Bank of America have excellent online banking options.

Customers who want easy access to a local branch may prefer Chase, one of the banks with the most numerous physical locations in the country, or Capital One, which offers a mix of online and physical banking services.

And for West Floridians who prefer a credit union over a traditional bank, Suncoast Credit Union is a fine choice.

References

  1. ^ U.S. Small Business Administration. 100 most active SBA 7(a) lenders, Retrieved 08/21/2024
  2. ^ Suncoast Credit Union. CDs and Share Certificates for Florida Residents, Retrieved 08/21/2024
  3. ^ Fifth Third Bank. J.D. Power Names Fifth Third Bank No. 1 for Retail Banking Experience in Florida, Retrieved 08/21/2024

Jeremy Harshman is a creative assistant at CreditDonkey, a bank comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

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