Best Banks in Alabama
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
Alabama has a mix of community, regional and national banks that cater to a variety of financial needs. Whether you want to find a checking account with all the bells and whistles or invest in a high-yield savings account, you’ll find the top choices for checking, savings and CDs in this GOBankingRates guide to the best banks in Alabama.
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Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased bank reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our in-depth bank review methodology.
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TOP STATE BANKS AT A GLANCE
Bank/Institution
Savings APY
Notable Features
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Detailed Reviews of the Best Banks in Alabama
Here’s a rundown of the main features, benefits and pros and cons of GOBankingRates’ picks for top banks in Alabama.
Gold Winner: Woodforest National Bank
Woodforest is GOBankingRates’ top pick for best bank in Alabama. As an employee-owned financial institution, it’s strongly committed to the communities it serves. Woodforest has a comprehensive selection of checking and savings accounts, and customers say they appreciate the friendly and professional service they receive when banking in person.
Best For
Mobile Banking
Credit Cards
Low Minimum Deposits
Loans
Investments
Tiered APYs up to
Woodforest National Bank’s savings accounts offer rates ranging from APY to APY, depending on your balance. Three of the checking accounts earn interest, with rates starting at — more than double the national average.
Total Branch Locations
Over 700
Mobile App Rating
4.8 on both the Apple App Store and Google Play
Other Products Offered
Checking, savings, CDs, home loans, auto loans, personal loans
Pros
- Competitive rates
- Large selection of checking accounts
- Physical branches conveniently located in Walmart stores
Cons
- Must open some accounts in person
- Debit card setup fee for some accounts
- $32 overdraft fee charged up to three times per day
Why We Like Woodforest National Bank
Woodforest is an employee-owned company, so every bank employee you encounter has a personal stake in your satisfaction. The bank offers a wide range of checking accounts, including a second-chance option for customers with past bank challenges.
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Silver Winner: Wells Fargo
Wells Fargo is the second-largest out-of-state bank by deposits in Alabama. While it’s faced criticism in recent years, its continued national popularity shows that many customers still find value in its services. Its wide reach and strong product lineup make it one of the best banks in Alabama.
Best For
Credit Cards
National Banks
Home Loans
Auto Loans
Investments
Everyday Banking and a Variety of Services
Wells Fargo has several products for everyday banking as well as options for mortgages, auto loans and credit cards. The app is user-friendly and the wide network of ATMs makes it easy to withdraw cash without paying a fee.
Total Branch Locations
Over 4,300 in the U.S.
Mobile App Rating
4.9 on the Apple App Store and 4.8 on Google Play
Other Products Offered
Credit cards, home loans, auto loans, investments
Pros
- Extensive branch and ATM network
- Diverse product offerings
- User-friendly digital interface
Cons
- Minimum deposit requirements and monthly maintenance fees
- High overdraft fees
- Low interest rate on savings accounts
Why We Like Wells Fargo
Wells Fargo offers one-stop everyday banking and financial planning services. There are several products for consumers and accessibility to branches and ATMs.
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Bronze Winner: PNC Bank
PNC is the largest out-of-state bank operating in Alabama. While customer reviews are mixed, the bank holds an A+ rating from the Better Business Bureau. GOBankingRates included PNC among Alabama’s best banks for its wide range of account options, many with low fees and minimal deposit requirements.
Best For
Credit Cards
National Banks
Home Loans
Student and Personal Loans
Small Business Banking
Highly Rated Mobile App
PNC Bank has financial and budgeting tools, diverse product options, and an extensive network of branches and ATMs. The app is highly rated in the App Store.
Total Branch Locations
Over 2,300
Mobile App Rating
4.8 on the Apple App Store and 4.5 on Google Play
Other Products Offered
Home loans, credit cards, student and personal loans, small business banking
Pros
- Competitive savings APY
- Large branch network
- Budgeting and financial planning tools
Cons
- High overdraft fees
- Monthly maintenance fees
- Lower APYs on standard accounts
Why We Like PNC
PNC Bank has a helpful wallet tool to help customers budget and develop a financial plan. It also offers a full suite of products, including checking and savings accounts, loans and small business offerings.
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Best Banks
Find the Best Checking Accounts
Best Picks for Savings Accounts
Find the Best CD Accounts
Best Money Market Accounts
Research Methodology
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 July 28, 2025.
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.
How To Choose the Right Bank in Alabama
Alabamians have over 120 banks to choose from. In addition, there are 91 credit unions in Alabama. Deciding which to use can be difficult. But listing the characteristics that are most important to you will help you narrow the choices and find the best bank for your financial needs.
Here are some of the most important factors to consider when comparing banks:
- Size: Community and regional banks might give more personalized service and encourage in-branch banking. National banks often have more branches and accounts with more bells and whistles, plus online and mobile platforms.
- Availability: Check the operating hours, including weekends and holidays. This is especially important if you prefer to bank in person.
- Bank health: No matter what your bank’s size, it’s important to verify its financial health. One way to do that is by searching for its Bauer rating.
- Rewards and promotions: Rewards programs can earn you cash back on debit card purchases, and promotions can get you a bonus for opening an account. To maximize rewards, consider if the bank has credit cards and other products that work with your deposit accounts.
- Account offerings: Make sure the bank you choose has accounts that meet your needs. If you have kids, for example, you might want a bank that offers youth accounts with parental controls.
- Fee structures and waivers: Fees for overdrafts, ATM use and account maintenance make some accounts expensive to own. Choose a bank that either has no fees or provides ways to avoid them.
- Digital banking availability: Full-featured mobile and online banking apps are a must if you frequently bank online. Also, look for digital wallet compatibility for contactless payments.
- Community involvement: Banks that have a stake in the communities they serve often go the extra mile to provide products and services to meet local needs.
Conclusion
The best Alabama bank for you is the one that offers a combination of features that matter most. That could mean convenient branch locations, competitive rates, low fees or generous rewards. Explore GOBankingRates’ suggestions, then apply for your new account today.
FAQs About Banking in Alabama
Here’s more information to help you find the best Alabama bank for your needs.- What is the best bank for high-yield savings in Alabama?
- Woodforest National Bank is a solid choice for high yields on Alabama savings accounts. You'll need a balance of at least $10,000 for the best rates, but even rates on lower balances are more competitive than the larger banks offer.
- Which banks have the most ATMs in Alabama?
- Bank data isn't available for the number of ATMs in a given state. But if extensive access to free ATMs is a priority for you, consider PNC, which has 60,000 fee-free ATMs nationwide. Many are located in popular convenience stores and major retailers.
- Are there any banks in Alabama with no monthly fees?
- GOBankingRates hasn't identified any Alabama banks that are completely free of monthly fees. However, PNC has some no-fee accounts. Also, two community banks, Bank Independent and Peoples Bank of Alabama, have some accounts with no fees or low fees that are easy to avoid.
More Resources for Banking
Best Banks
Find the Best Checking Accounts
Best Picks for Savings Accounts
Find the Best CD Accounts
Best Money Market Accounts
Daria Uhlig contributed to the reporting for this article.
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