Best Banks in Michigan
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On the hunt for the ideal bank in Michigan? Check out this article to see which ones are worth considering.
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- Bank of America Advantage Banking:
$300 Bonus Offer - Chase Total Checking®:
$300 Bonus - PNC Bank:
Virtual Wallet with Performance Select Checking - $400 Bonus - KeyBank:
Key Smart Checking® - $300 Bonus - Citizens Bank:
Personal Checking and Savings Account - $400 Bonus - Huntington:
Personal Checking Account - $600 Bonus - Honor Credit Union:
Personal Checking Account - $250 Bonus - CIBC Bank:
Personal Checking Account - $200 Bonus - Everwise Credit Union:
Personal Checking Account - $200 Bonus - Unify Financial Credit Union:
Personal Checking Account - Up to $150 Bonus
Michigan has a diverse range of banks, from large national banks to small community banks. This means residents have plenty of choices. But, it can make choosing one tough.
Luckily, we've curated a list of some of the best banks you can check out in Michigan!
Bank of America Advantage Banking - $300 Bonus Offer
- The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new checking customers only.
- Offer expires 01/31/2025.
- To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
- Bank of America, N.A. Member FDIC.
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- JPMorgan Chase Bank, N.A. Member FDIC
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- Chase Overdraft Assist℠ - no overdraft fees 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 bring your account balance to overdrawn by $50 or less at the end of the next business day*
KeyBank: Key Smart Checking® - $300 Bonus
- Open a Key Smart Checking® account online by May 16, 2025.
- Make the minimum opening deposit of $10, plus one single eligible direct deposit of at least $1,000 within the first 60 days of account opening.
- Your $300 cash bonus will be deposited into your account within 60 days of meeting requirements. Account must not be closed at the time of gift payment.
Best Banks in Michigan
With numerous banks and credit unions in Michigan, deciding where to open an account can be daunting. Here are some of the top options available in the state:
Chase Bank: Best National Bank
Chase Bank is a good option for Michigan residents who value the convenience and security of banking with a large US bank.
With over 190 branches and ATMs statewide, your money is always within reach when you open an account with Chase. Plus, their easy-to-use mobile app makes managing your finances a breeze. [1]
But, Chase offers more than just convenience. With a wide range of financial products and services, like Chase Total Checking and Chase Savings, you will surely find the perfect fit for your needs. [2]
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- JPMorgan Chase Bank, N.A. Member FDIC
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- Chase Overdraft Assist℠ - no overdraft fees 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 bring your account balance to overdrawn by $50 or less at the end of the next business day*
Chase Secure Banking℠ - $100 Bonus
- New Chase checking customers enjoy a $100 checking account bonus when you open a Chase Secure Banking℠ account with qualifying transactions. Open online or at any Chase branch.
- Set up direct deposit and you may get your money up to two business days early-exclusively for Chase Secure Banking℠ customers.
- No minimum deposit to open an account and get started plus no overdraft fees with a Chase debit card that helps you stay within your balance.
- No need to worry about overdraft fees - Chase Secure Banking℠ allows you to spend only the money you have available.
- Chase Secure Banking℠ customers told us they save an average of more than $40 per month on fees after opening their account.
- Pay bills, cash checks and send or receive money with Zelle® with a Chase Secure Banking℠ account.
- Bank from anywhere with access to more than 15,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and Chase.com.
- JPMorgan Chase Bank, N.A. Member FDIC.
Chase College Checking℠ - $100 Bonus
- Enjoy $100 as a new Chase checking customer when you open a Chase College Checking℠ account and complete 10 qualifying transactions within 60 days of coupon enrollment.
- $0 Monthly Service Fee while in school up to the graduation date provided at account opening (five years maximum) for students 17-24 years old.
- Wire funds internationally using the Chase Mobile® app or chase.com. Send money to recipients around the world with multiple currency options. Fees apply.
- Keep track of your money with confidence and control in the Chase Mobile® app. The Chase Mobile app helps you bank securely and conveniently from anywhere.
- Zelle® is available in more than 1,000 banking apps in the U.S. So, you can send and receive money from almost anyone you know and trust who has a bank account in the U.S.
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- With Fraud Monitoring, Chase may notify you of unusual debit card purchases and with Zero Liability Protection you won't be held responsible for unauthorized debit card purchases when reported promptly.
- JPMorgan Chase Bank, N.A. Member FDIC
Pros + Cons
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Huntington Bank: Best Regional Bank
If you're from Michigan and you prefer wider bank branch access within the state, Huntington could be the ideal choice for you.
They have an impressive physical presence with over 400 branches across the state. Michigan residents can also access numerous ATM locations, ensuring convenient access to your funds.
Huntington offers various checking and savings accounts, but the rates might be too low on some. Instead, try their Asterisk-Free Checking account—it has no monthly fees or balance requirements.
Huntington: Personal Checking Account - $600 Bonus
Open a new Huntington Platinum Perks Checking account. Make a cumulative new money deposit into the checking account of at least $25,000 or more within 90 days of account opening. Account must remain open for at least 90 days.
This offer is only available to applicants residing in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia or Wisconsin. $600 will be deposited to your account within 14 business days after meeting requirements.
Huntington: Personal Checking Account - $400 Bonus
Open a new Huntington Perks Checking account. Set up and receive qualifying direct deposits totaling $500 or more within 90 days of account opening. Account must remain open for at least 90 days.
This offer is only available to applicants in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin. $400 will be deposited to your account within 14 business days after meeting requirements.
Huntington: Personal Checking Account - $200 Bonus
Open a new Asterisk-Free Checking account. Set up and receive qualifying direct deposits totaling $500 or more within 90 days of account opening. Account must remain open for at least 90 days.
This offer is only available to applicants in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin. $400 will be deposited to your account within 14 business days after meeting requirements.
Pros + Cons
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PNC Bank: Best Online Banking Option
For Michigan residents on the go, PNC Bank is a solid pick for online banking. Plus, you can still bank in person in any of its 127 locations statewide and extensive ATM network. Accessibility won't be a big issue. [3]
PNC excels in digital banking, offering customers a user-friendly website and mobile app. You can easily manage your finances anytime, anywhere.
One of PNC's standout offerings is the Virtual Wallet. It is an all-in-one checking and savings account. It has no opening deposit, but there is a waivable $7 monthly fee.
Virtual Wallet also gives you access to digital tools like a savings tracker and Low Cash Mode.[4]
PNC Bank: Virtual Wallet with Performance Select Checking - $400 Bonus
Open a new Virtual Wallet with Performance Select checking account and make qualifying direct deposits totaling $5,000 or more within 60 days of account opening. Bonus will be awarded within 60-90 days of meeting the requirements.
PNC Bank: Virtual Wallet Checking Pro - $200 Bonus
Open a new Virtual Wallet Checking Pro online. Set up and receive qualifying direct deposits totaling $2,000 or more within 60 days of account opening.
PNC Bank: Virtual Wallet with Performance Spend Checking - $200 Bonus
Open a new Virtual Wallet with Performance Spend checking account and make qualifying direct deposits totaling $2,000 or more within 60 days of account opening. Bonus will be awarded within 60-90 days of meeting the requirements.
Pros + Cons
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Citizens Bank: Best for Savings Options
Despite having fewer branches compared to other mentioned banks, Citizens Bank still stands out as a strong choice due to its wide array of financial products and services.
Michigan residents seeking diverse savings options will find them particularly appealing, thanks to the available savings accounts, money market accounts, and CD offers.
Citizens Bank has 60+ branches in the state and access to 3,300+ ATMs across 14 states.
Pros + Cons
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Fifth Third Bank: Best Free Checking
Fifth Third Bank is an attractive choice for Michigan residents seeking the personalized service of a regional bank rather than a national one. They operate in 11 states and boast over 160 locations in Michigan alone.
They offer a wide range of banking products, including checking and savings accounts, CDs, and credit cards.
In fact, you can check out the Fifth Third Momentum Checking option if you're on the hunt for a fee-free account to use for your daily finances.
Pros + Cons
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Our Methodology
In making this list, we mainly looked at banks with branches in the state to emphasize convenience and community support. We considered factors like branch locations, online banking quality, and the range of services offered.
We collect information by researching websites and financial reports. While we try to be comprehensive, it's essential to know we rely on information available to everyone.
How to Choose the Best Bank in Michigan
Before settling on a bank, it's important to consider these factors:
Accessibility
Even with the rise of online banking, having nearby branches is still convenient. Choose a bank with local branches for easier access to your money and face-to-face help when you need it.
Products and Services Offered
Your bank should offer the financial products and services you're looking for. Access to multiple savings, loan, and investment options makes banking more convenient.
Plus, as you bank more, you establish a relationship that can earn you some perks depending on the institution.
Monthly Fees
Some banks might charge you monthly fees if you don't meet conditions like maintaining a minimum balance. These fees can eat into your funds, so it's smart to search for a bank with no fees or where you can easily fulfill the requirements.
Online Banking
A user-friendly online banking system is important because it makes managing your money easy.
Bottom Line
Michigan has plenty of banking options, each with its benefits and drawbacks. If you value convenience and security, Chase Bank is a solid choice. For a more personal touch, check out regional banks like Huntington and Fifth Third Bank.
You can also consider online banks and credit unions if they meet your needs. Do your research and don't hesitate to reach out to banks for more information to find the best fit for you.
Chase Business Complete Banking® - $300 Bonus
- Earn $300 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.
- Multiple ways to waive the $15 Monthly Service Fee, including maintaining a minimum daily balance or purchases on your Chase Ink® Business credit card.
- Full-service business banking. Convenient access to all your business banking services in one place -- lending, checking, credit card and payment solutions.
- Your choice of payment types. Choose from a full range of options for accepting payments and making deposits that include Zelle®, Online Bill Pay, wire transfers and ACH payments.
- Convenient access to payment processing. Process all major debit and credit cards with QuickAccept®. It's a built-in feature with your Business Complete Checking account.
- Get support you can rely on. Get access to our customer support team, plus a wide array of solutions that carter to every stage of your business
- Full-featured banking online and on-the-go. Manage your business' finances on your terms with the latest online and mobile banking technology.
- Associate Debit and Employee Deposit Cards available upon request
Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer
- The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new eligible business checking customers only.
- Offer expires 12/31/2025.
- To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
- Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or
Merrill investment accounts.
- ** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
- Bank of America, N.A. Member FDIC
PNC Bank: Virtual Wallet Checking - $100 Bonus
Open a new Virtual Wallet checking account and make qualified direct deposits totaling $500 or more within 60 days of account opening. Bonus will be awarded within 60-90 days of meeting the requirements.
Citizens Bank: Personal Checking and Savings Account - $400 Bonus
Earn $300 when you open a new qualifying checking account and have at least one single direct deposit of $500 or more post to your new checking account within 60 days of account opening. Open a new qualifying savings account and deposit $100 or more every month for 3 consecutive months. Accounts must be opened at the same time via the offer page to qualify for the bonus.
Huntington: Business Checking Account - $1,000 Bonus
Open a new Huntington Unlimited Plus Business Checking, Business Analyzed Checking, or Non-Profit Analyzed Checking account using offer code. Make a minimum cumulative new money deposit into the new checking account of at least $20,000 within 30 days of account opening. Account must maintain an open status for at least 90 days to be eligible.
This offer is only available to applicants residing in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin. This offer is only available to new business checking customers. All current Huntington business checking customers, including those with business checking accounts closed within the last six months, are not eligible. $1,000 bonus will be deposited to your new checking account within 14 days after completing requirements.
Associated Bank: Business Checking Account - $750 Bonus
Open a Business Advanced Checking® account. Deposit $20,000 or more in new money within 30 days of account opening. Maintain a minimum daily balance of $20,000 between 30 to 90 days of account opening.
Honor Credit Union: Personal Checking Account - $250 Bonus
Open a new checking account. Make cumulative ACH deposits of $500 or more within 60 days of account opening. Complete at least 8 debit card transactions within 60 days of account opening.
Consumers Credit Union (Michigan): Business Checking Account - $200 Bonus
Open a qualifying business checking account. Set up and receive a monthly ACH of $1,500 or more to qualify for bonus. Account must remain open and in good standing for at least 6 months and receive eStatements.
This offer is valid only for business accounts using comparable services offered by Consumers Credit Union.
CIBC Bank: Personal Checking Account - $200 Bonus
Open a new CIBC iCan or myChoice Checking account. Deposit at least $500 at account opening. Set up and receive qualifying direct deposits or ACH transaction within 90 days of account opening. Enroll in eStatements and elect to receive eStatements through CIBC NetBanking.
Everwise Credit Union: Personal Checking Account - $200 Bonus
Open a new membership savings and checking account. Use promo code JOIN200 at account opening. Set up monthly direct deposit(s) of $500 or more. The first direct deposit must post to the account within 60 days of account opening.
Unify Financial Credit Union: Personal Checking Account - Up to $150 Bonus
Earn $50 when you open a new qualifying checking account with a Visa debit card. Earn $50 when you establish a qualifying monthly direct deposit of at least $500 within 60 days of account opening. Get an additional bonus up to $50 by earning $1 bonus for each debit card transaction that exceeds $5 made with your Visa debit card within the first 60 days of account opening.
Diversified Members Credit Union: Personal Checking Account - Up to $120 Bonus
Open a Give Back Credit Union Rewards Checking account. Get $10 deposited monthly to your checking account when you complete the following: have at least 15 debit card transactions every month, and be enrolled in online banking and eStatements.
Great River Federal Credit Union: Personal Checking Account - $100 Bonus
Open a new account using promo code GHOST100. Complete one of the following within 60 days of account opening: open a checking account with direct deposits of $200 or more, open a checking account with 10 or more debit transactions of at least $10 each, or apply and get approved on a loan or credit card.
Farmers Insurance Federal Credit Union: Personal Checking and Savings Account - $100 Bonus
Open a new eligible checking account within 10 days of signing up for membership. Use promo code WELCOME at account opening. Set up and receive direct deposit of at least $1,000 per month for two consecutive months within 45 days of account opening.
Open a new savings or deposit account within 10 days of signing up for membership. Use promo code WELCOME at account opening. Deposit $10,000 or more in new money during account opening. Maintain at least $10,000 in the account for 2 consecutive months.
Old National Bank: Personal Checking Account - $450 Bonus
Open a new ONB Preferred or Everyday Checking account. Set up and receive at least 2 qualifying ACH direct deposits totaling $10,000 or more within 90 days of account opening. Account must be opened for at least 120 days to qualify for bonus.
References
- ^ Chase. Michigan branches and ATM locations, Retrieved 07/07/2024
- ^ Chase. Compare your options: Open a checking account online today, Retrieved 06/01/2024
- ^ PNC. Browse PNC Branches in Michigan, Retrieved 07/07/2024
- ^ PNC. Virtual Wallet, Retrieved 06/01/2024
Darlene Santos is a research analyst at CreditDonkey, a bank comparison and reviews website. Write to Darlene Santos at darlene.santos@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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