First National Bank Alaska

Best For: Direct Deposit and Digital Services

Open a Direct Deposit Checking account and enjoy unlimited free transactions with no minimum deposit

Founded in 1922, the First National Bank Alaska understands the unique needs and challenges of individuals and businesses in its home state. With more than two dozen branches across Alaska, the bank offers personalized service plus convenient and secure online and mobile banking options. With multiple choices in checking accounts, including an interest-bearing option, savings, money markets, and CDs, First National Bank Alaska is equipped to serve all the financial needs of its vast community. GOBankingRates named it the Best Bank in Alaska for 2025.

First National Bank Alaska Checking Accounts

First National Bank Alaska offers a wide range of products, including checking accounts with low fees. If you have at least one direct deposit a month, the Direct Deposit checking account provides unlimited check writing, ATM and ACH withdrawals, debit card purchases, and more with no fees and no minimum account balance, making it a solid and affordable choice for those seeking a regional bank. 

First National Bank Alaska Checking Accounts

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Best For

Banking in Alaska

Mobile App

Credit Cards

Loan Options

Low Monthly Fees

No Minimum Deposit Requirements

First National Bank Alaska offers six checking accounts, all with low fees under $10 and waived with either a direct deposit, electronic statements or a specific minimum daily balance, depending on the amount.

• 0.10% interest on balances over $2,500 for a First Rate checking account
• No minimum opening deposit
• Monthly fees under $10, easily waived in many cases
• Zelle capabilities
• Digital wallets and mobile banking

Fees

$5-$9 Monthly Service Fee

Min Opening

$0

Pros

• Fees easily waived
• Apple Pay and online bill pay capabilities
• Connect with Zelle

Cons

• Low interest on interest-earning checking
• Monthly fees
• Quick Take

Quick Take

If you’re looking for a regional checking account with a robust mobile app and digital banking capabilities in Alaska, consider First National Bank Alaska. 

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First National Bank Alaska Savings Accounts

First National Bank Alaska has three savings accounts: Personal, First Tier, and a Youth UTMA (Uniform Transfers to Minors Act) savings. Although some of the accounts have no opening deposits, the interest rates are low.

First National Bank Alaska Savings Accounts

Start Banking

Best For

Banking in Alaska

Mobile App

Low Monthly Fees

Loan Options

Low Minimum Deposit

Tiered Savings Rates for Different Account Balances

First National Bank Alaska has three savings accounts: Personal, First Tier with a minimum opening deposit of $7,500, and a Youth UTMA (Uniform Transfers to Minors Act) savings. The Personal and Youth savings have no minimum opening deposit. 

• All three accounts have tiered savings rates.
• $3 transaction fee for debit card transactions in excess of three per month for Personal and Youth savings
• $20 transaction fee after first debit transaction with a First Tier savings
• Best for people with thousands to save who want to keep the money in the account for an extended time frame
• Low Monthly service charge waived with a $300 minimum balance for Personal or Youth savings
• $20 monthly charge waived with a minimum daily balance of $7,500 for tiered savings

Fees

$3-$20 monthly service fee, can be waived

APY

–

Min Opening

$0

Pros

• Easy to waive fees by meeting minimum balance requirements
• Earn more interest with a higher balance

Cons

• Fees for excessive debit card use
• High minimum opening deposit for First Tier savings
• Can get better interest rates with an online, high-yield savings

Quick Take

Fees for debit card use and relatively low interest rates mean that First National customers may want to consider other ways to save. 

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First National Bank Alaska CD Accounts

The First National Bank Alaska offers CDs with terms from 30 days up to 60 months, with yields as high as 3.5%. Their CD rates are much higher than their savings accounts rates.

First National Bank Alaska CD Accounts

Start Banking

Best For

Banking in Alaska

Mobile App

Low Monthly Fees

Loan Options

Low Minimum Deposit

Min. Balance to Earn APY $750

The First National Bank Alaska offers CDs with terms from 30 days up to 60 months, with yields as high as 3.50%. You can open a CD with as little as $750, making this a better choice than a National Bank Alaska savings account. 

• Competitive interest rates
• Low minimum opening balance
• Automatic renewal available allows your money to keep growing
• Flexible terms give you more options to save
• Roll interest into your First National bank account or back into the CD

Fees

No monthly service fee

APY

–

Min Opening

$750

Pros

• Yields higher than the national average
• Variety of terms 
• Low minimum balance requirements

Cons

• Early withdrawal penalties
• Keeps money tied up for at least 30 days 
• No debit card access

Quick Take

With yields as high as 3.50% for terms of six months up to one year, a First National Bank Alaska CD can help you plan ahead and save for a trip or a major purchase.

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First National Bank Alaska Money Market Accounts

First National Bank Alaska offers two money market accounts with tiered interest rates depending on how much money you have saved.

First National Bank Alaska Money Market Accounts

Start Banking

Best For

Banking in Alaska

Mobile App

Low Monthly Fees

Loan Options

Low Minimum Deposit

Two Money Market Accounts

The First Investment account has no minimum opening deposit, and the $9 monthly service fee will be waived if you maintain an account balance of at least $2,500. The Super First Investment account requires a minimum deposit of at least $25,000. 

• Debit card use restricted to First National ATMs
• Hefty fees for debit card transactions exceeding 6 per month does not make this a good account for daily use
• Keep your money tucked away without temptation to spend it due to debit card fees and limited access
• Access money via check with a Super First account
• APY of .10% for a First Investment account and 0.10% to 0.15% (depending on account balance) for Super First
• Best for larger balances

Fees

No monthly service fee

APY

–

Min Opening

$0-$25,000

Pros

• Keeps money safe
• Six free debits per month
• Competitive interest rate
• Tiered rate based on balance for Super First account

Cons

• Monthly service charge
• Can only use First National ATMs
• Transaction fees on debits exceeding six per month
• Can find higher interest rates with an online high-yield savings account

Quick Take

Ally is an online-only bank that features low fees and high interest rates on its deposit accounts. Because of its low overhead, it can afford the interest on CDs, For First National customers, a First Investment money market account provides more flexibility, with more free debits, than a First National savings account.

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Banking Experience

The bank’s business hours are 8 AM to 5 PM on weekdays, and 9 AM to 4 PM on Saturdays. First National has a mobile app accessible on the App Store and Google Play. The Google Play app has an average rating of 4.4 stars, with one positive reviewer noting the app is “Simple but works for almost all my banking needs.” The app received an even higher rating of 4.7 stars in The App Store, indicating general customer satisfaction with the online banking tool.

Comparable Regional Bank Options

Before you open a new bank account, make sure you shop around to find a financial institution that meets your needs.

Checking

Savings

CDs

Money Market

First National Bank Alaska

First National Bank Alaska Checking Accounts

Start Banking

Wells Fargo

4.7

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Wells Fargo Everyday Checking Account

Read Review

KeyBank

4.7

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

KeyBank Checking Accounts

Read Review

Fees

Fees

Fees

$5-$9 Monthly Service Fee

$5 to $35 waivable monthly fee

$0 to $25, many waivable

Min Opening

APY

APY

$0

Up to

for Key Select Checking

First National Bank Alaska

First National Bank Alaska Savings Accounts

Start Banking

Wells Fargo

Wells Fargo Savings Account

Read Review

KeyBank

KeyBank Savings Accounts

Read Review

Fees

Fees

Fees

$3-$20 monthly service fee, can be waived

Up to $12 monthly service fee – can be waived

$0

APY

APY

APY

–

Up to for Platinum Savings accounts

Min Opening

Min Opening

Min Opening

$0

$25

$10

First National Bank Alaska

First National Bank Alaska CD Accounts

Start Banking

Wells Fargo

3.3

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Wells Fargo CD Account

Read Review

KeyBank

3.0

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

KeyBank CD Accounts

Read Review

Fees

Fees

Fees

No monthly service fee

Early withdrawal penalty may apply

N/A

APY

APY

APY

–

Up to

Up to

Min Opening

Min Opening

Min Opening

$750

$2,500 to $5,000

$2,500

First National Bank Alaska

First National Bank Alaska Money Market Accounts

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U.S. Bank

4.0

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

U.S. Bank Money Market Account

Read Review

KeyBank

3.7

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

KeyBank Money Market Accounts

Read Review

Fees

Fees

Fees

No monthly service fee

$10, waivable

$20, waivable

APY

APY

APY

–

Up to

Up to

Min Opening

Min Opening

Min Opening

$0-$25,000

$100

$5,000

First National Bank Alaska vs. Wells Fargo

Rated one of the Best National Banks of 2025 by GOBankingRates, Wells Fargo is one of the largest banks in the U.S. and has 53 offices and 120 ATMs across Alaska. Wells Fargo’s Premium Checking account was ranked third in Premium checking accounts of 2025 by GOBankingRates, making it a top-tier choice for Alaska residents. 

First National Bank Alaska vs. Northrim Bank 

Northrim Bank offers checking, savings, money market, and CD accounts with low monthly fees that are easily waived. The company’s Simple Tier checking has no monthly fee, while the other tiers all earn interest and provide customers with other perks and benefits. There are no fees for debit card transactions through the savings account, and no transaction fees when you use Northrim ATMs or the MoneyPass Network of ATMs across the country, making Northrim Bank a convenient option. 

First National Bank Alaska vs. First Bank of Alaska

Although similar in their names, First Bank of Alaska and First National Bank of Alaska are different financial institutions that both offer checking, savings, and money market accounts. In lieu of CDs, First Bank offers something called “time deposits” with fixed rates and early withdrawal penalties. For those who prefer online and mobile banking, First Bank offers an all-electronic checking account with a low monthly fee that’s easily waived. 

Final Take 

First National Bank Alaska is best for Alaska residents seeking a local bank with straightforward checking and savings products and a user-friendly mobile app.

GOBankingRates analyzed the 100 largest banks by total assets, as well as select online banks with over $800 million in assets, to determine the Best Banks of 2025. Data was sourced from June 2024 FDIC reports, along with a selection of leading neobanks. For savings and checking accounts, we chose only one product per category per institution. If an institution did not offer a given product, it was not scored.

For institutions with multiple checking accounts, we selected fee-free options or those with the lowest barrier to entry. If there were multiple fee-free checking accounts, we selected the account with the highest APY or the lower monthly fee. For institutions offering multiple savings accounts, we chose the account with the lowest monthly fee, provided it required a minimum deposit of $20,000 or less. If multiple savings accounts met these criteria, we selected the one with the highest APY.

All APYs were calculated based on the base APY being offered, achievable or both. To be deemed a “winner” in a product category (Checking, Savings, CDs, or Money Market Accounts), an institution needed more than $5 billion in total assets to demonstrate the ability to handle rising interest rates, exposure to commercial real estate and growing liquidity requirements.

To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 17, 2024.

To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.

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