July 25, 2024

Best Banks in Pennsylvania

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Ready to find the perfect bank for you in Pennsylvania? Keep reading this guide to discover the best one that suits your needs.

Banking offers in Pennsylvania that you may like:

Did you know that the first-ever bank in the United States was established in Pennsylvania?[1]

It's no surprise that hundreds of banks are operating in the state today. While Pennsylvanian residents have plenty of banks to choose from, picking the right one can be tough.

So, keep reading to find out about some of the best banks in PA.

Best Banks in Pennsylvania

With so many banks and credit unions to choose from in Pennsylvania, deciding where to open an account can be challenging.

Here are some of the top options available to you in the state:

What is most important to you when choosing a bank?

PNC Bank: Largest Branch Network

When it comes to physical presence in Pennsylvania, PNC Bank is your best bet. It is headquartered in the state with over 260 branches. [2]

PNC Bank offers a variety of financial services for all including individuals, small businesses, and corporations. This includes checking and savings accounts, loans, credit cards, and more.

But even if you can't visit a local branch any time soon, it's no problem. PNC Bank also provides online banking and financial tools to assist you in managing your finances from anywhere.

Who Is It Best For
PNC Bank is a solid choice if you want to manage your finances in one place. Their PNC Virtual Wallet merges online checking and savings accounts, making it easy to earn interest while keeping track of your money on a single platform.

Pros + Cons

  • Has approximately 2,300+ locations nationwide
  • Extensive ATM network
  • Various checking and savings options available
  • Low APY on some savings accounts
  • High-yield savings available in select states only

How often do you visit a physical bank branch?

Citizens Bank: Best All-Rounder Bank

Citizens Bank is one of the largest banks in the US with a vast presence on the East Coast. They have over 230 branches just in Pennsylvania and 3,200+ ATMs across 14 states.[3]

Citizens Bank provides an array of banking services for individuals and businesses such as checking and savings accounts, credit cards, and loans. Their easy-to-use online and mobile banking platforms let customers manage their accounts and access funds anytime.

Who Is It Best For
Citizens Bank is best for those who want access to several savings options with good features. They have various savings accounts with decent interest rates. Plus some offer no monthly fees and can include overdraft protection.

Pros + Cons

  • Various savings options available
  • 24/7 customer service
  • Easy-to-use mobile app
  • Branches in select states only
  • Low rates on some savings options

Dollar Bank: Best Long-Term Savings

Dollar Bank is a community bank in Pittsburgh serving parts of Ohio, Virginia, Maryland, and Pennsylvania.[4] If you live in Pennsylvania, it's a great choice with over 40 branches in the state and access to a network of more than 55,000 fee-free ATMs worldwide.

Additionally, Dollar Bank offers an extensive range of financial products tailored for both individuals and businesses, such as checking and savings accounts, various loan products, insurance, and treasury management services.

Who Is It Best For
Dollar Bank is an excellent option for people committed to long-term saving. They provide a range of CD options with varying rates and balance requirements, so you're guaranteed to find one that fits your financial situation.

Pros + Cons

  • Wide ATM network
  • Free checking account available
  • Low rates on savings accounts
  • Branches limited to PA, OH, VA, & MD

Wells Fargo: Best Second-Chance Banking

Wells Fargo is a prominent bank in the US, with more than 100 branches in Pennsylvania alone. They also offer free access to approximately 11,000 ATMs across the country, ensuring your funds are easily accessible wherever you go.

As a full-service bank, they offer virtually most personal and business banking services you might need, including:

  • Checking and savings accounts
  • Debit and credit cards
  • Different types of loans
  • Student and retirement accounts
  • Wealth management services

Which bank service do you use most frequently?

Who Is It Best For
Wells Fargo is a great choice for folks who could use some extra support in managing their finances, like teens or those with a negative banking history.

They offer the Clear Access Banking account, specifically designed as a second-chance option. It comes with a $5 monthly service fee and requires a minimum opening deposit of $25.[5]

Pros + Cons

  • Extensive branch and ATM access
  • Various checking and savings options available
  • Low rates on savings

First National Bank: Best Free Checking Account

First National Bank offers a wide range of banking and wealth management services. They serve communities in Maryland, North Carolina, Ohio, Pennsylvania, South Carolina, Virginia, West Virginia, and Washington, DC.

It's a top pick because, not only is it headquartered in the state, but it also has over 180 branches across Pennsylvania alone.[6]

Who Is It Best For
First National Bank's Freestyle Checking is great for a hassle-free, no-cost account. Its Freestyle Checking account has no minimum balance, no monthly fees, unlimited check-writing, and free access to more than 1,600 FNB ATMs.[7]

Pros + Cons

  • Free checking account available
  • Various interest-earning checking and savings options
  • Low interest rates on savings

Ally Bank: Best Online Bank

Ally Bank is an online-only bank. But, they have a wide range of products, including checking, savings, credit cards, and loans. They're popular for offering competitive rates, making them a good choice to grow your savings.

They don't have any physical branches in Pennsylvania or anywhere else in the US. However, customers have access to 43,000+ no-fee Allpoint ATMs and a robust online banking platform.

Who Is It Best For
Ally Bank is an excellent choice for those who are interested in digital banking. Their online and mobile banking platform is top-notch, with user-friendly features and effective money management tools.

Moreover, they provide 24/7 customer service, ensuring you can reach them anytime and from anywhere.

Pros + Cons

  • Great digital banking platforms
  • High-yield savings available
  • No physical branches
  • No cash deposits

How to Choose the Best Bank

Before settling on a bank in Pennsylvania, it's important to consider these factors:

Accessibility
Online banking is quite common now. But having nearby branches is still important for convenience. A bank with local branches means easier access to your money and getting in-person assistance.

Online Banking
An easy-to-use online banking system is crucial because a lot of transactions can now be done online. If you're short on time and can't visit an ATM or branch, a good online/mobile banking platform means you can manage your money with just a few taps.

Products and Services Offered
Choose a bank that offers various financial services so you can build a long-term relationship. For example, you can start with a checking account and later add a savings account. Having these options makes banking more convenient.

Monthly Fees
Certain banks might hit you with monthly fees, especially if you don't meet conditions like a minimum balance. These fees can chip away at your money, so it's wise to look for a bank with no fees or where you can easily meet the requirements.

Is a Local Bank Better Than a Big Bank?

Local banks can be a better choice for some people. Many offer lower fees and personalized services. Meanwhile, big banks have more accessibility and a wider range of financial products. Ultimately, the best option depends on your specific needs and preferences.

For example, if you need a local bank with physical branches, PNC Bank is your best bet. However, if your priority is to grow your funds, a bank out of state or even an online bank may offer better savings and investment options.

What is the most popular bank in Pennsylvania?
When it comes to presence and locations, PNC Bank is one of the most popular banks in Pennsylvania with over 260 branches in the state.

Bottom Line

Pennsylvanians have a wealth of options for personal and business banking services. From the big names to smaller local institutions, there's a diverse range to explore.

In the end, it's all about what works best for you and your money. Just remember to consider factors like branch accessibility, online banking, fees, and more before you decide!

References

  1. ^ FDIC. U.S. Banking and Deposit Insurance History, Retrieved 05/01/2024
  2. ^ PNC Bank. PNC Locator, Retrieved 05/01/2024
  3. ^ Citizens Bank. Locations, Retrieved 05/01/2024
  4. ^ Dollar Bank. About Dollar Bank, Retrieved 05/01/2024
  5. ^ Wells Fargo. Clear Access Banking, Retrieved 05/01/2024
  6. ^ First National Bank. Locations in Pennsylvania, Retrieved 05/01/2024
  7. ^ First National Bank. Freestyle Checking, Retrieved 05/01/2024

Write to Darlene Santos at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

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Bank Reviews & Deals

What is most important to you when choosing a bank?
89% Location of physical branches
1% Quality of online banking interface
2% Mobile app features and reliability
4% Customer service quality
5% Interest rates and fees
Source: CreditDonkey. Totals may not add to 100% due to rounding.
How often do you visit a physical bank branch?
39% Several times a week
11% About once a week
28% A few times a month
17% Rarely
6% Never, I use online banking exclusively.
Source: CreditDonkey. Totals may not add to 100% due to rounding.
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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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