Best Banks in Arizona for 2023

According to the Federal Deposit Insurance Corp., there are 14 banks headquartered in Arizona. However, dozens of national banks also have a presence in the state. To help you choose from the best banks in Arizona, GOBankingRates produced a list of top institutions.
8 Best Banks in Arizona
GOBankingRates identified the top banks in the U.S. based on customer reviews, fees, market share, interest rates and more. The best banks in Arizona list consists of the top financial institutions with physical branches in the state:

Chase
Why it stands out: Chase manages over $3.3 billion in assets, making it the largest bank in the U.S. It's a one-stop-shop for banking services, ready to support your financial journey.- Mobile app with high customer ratings
- Lucrative new account bonuses
- Waivable monthly maintenance fees
- Self-directed investing, robo-advisor services or investment advisors available
- Low yields on savings and CDs

Bank of America
Why it stands out: Bank of America, Member FDIC, keeps checking accounts simple by providing three tiers of one account known as Bank of America Advantage Banking. In addition, the bank provides a full-featured mobile app for the times you'd prefer to skip the teller line.- Bank of America Advantage Banking is available in three tiers from basic checkless to premium
- Fees on most accounts can be waived
- Merrill Edge self-directed investing available
- Preferred Rewards members have access to special rates and savings
- Annual percentage yields on deposits are relatively low at 0.01% to 0.04%
- No money market account available

Wells Fargo
Why it stands out: Wells Fargo has the most branches in the U.S. You'll find 156 branches in Arizona and 465 ATMs. And if you're comfortable with digital banking, the wide availability of ATMs and solid mobile app make it possible to replace a human teller for nearly all your financial needs.- Highly rated mobile banking app
- Accounts available with low opening deposit minimums at $25 and waivable monthly maintenance fees
- Customer service available 24/7
- Order foreign currency for pickup
- Standard savings account's APY of 0.15% is below the national average

US Bank
Why it stands out: U.S. Bank makes opening an account in Arizona accessible. Small opening balance requirements and waivable monthly maintenance fees make it possible for nearly anyone to afford to open a checking account.- Access to U.S. Bank and MoneyPass ATMs nationwide
- Choose from 18 debit card designs for your checking account
- CD specials with higher-yield interest rates
- Accounts have minimal opening balance requirements of $25 to $100
- Can charge up to four overdraft fees per day of $36 each

BMO
Why it stands out: BMO offers higher-than-average interest rates and low-cost checking options to stretch your dollar further. A Relationship Plus Money Market account's base rate is 1.00% APY. When you open a Relationship Package, which includes the Relationship money market and a BMO Relationship Checking account, you can earn up to 3.56% APY, depending on your balance. Its CD specials also have higher yields.- Relationship banking available
- 51 branches across Arizona
- High APY of 5.25% for 13-month CD
- Checking available with no monthly maintenance fees
- Can charge up to three overdraft fees per day of $36 each

First Citizens Bank
Why it stands out: First Citizens is another bank in Arizona that's good for individuals just getting started with banking. First Citizens Bank has free checking and savings account options with low opening balance requirements.- Free checking account option with a $50 minimum to open
- Better-than-average interest rates for savings, CDs and money market accounts
- Unlimited transfers and withdrawals allowed at branches for money market account holders
- User-friendly mobile banking app
- Only four physical locations in Arizona
- Minimal APY of 0.05% on premium checking accounts

BOK Financial
Why it stands out: BOK Financial, short for Bank of Oklahoma, is one of the best banks in Arizona and one of the top regional banks. Individuals who like a community-focused bank will appreciate that the bank has donated $3.16 million to United Way and to 640 nonprofits.- Checking account with no monthly service fee
- Community-minded banking
- Premier Money Market savings earn 0.20%-1.50% APY and have the opportunity to earn a 0.05% APY bonus rate
- Only four branches in Arizona
- Limited customer service options

FirstBank
Why it stands out: FirstBank has accounts individuals new to banking — or on a budget — will appreciate. Low to no minimum opening requirements and no monthly fees are just a couple of highlights. The Anywhere account is the bank's digital checking account. Paired with the mobile app, you can handle banking from anywhere. Plus, you can set up automatic savings transfers and round up debit card transactions to allocate the spare change to your savings account.- Highly rated mobile banking app
- 13 branches in eight Arizona cities
- Accounts with no minimum opening requirements available
- 24/7 customer service
- Low APYs
Takeaway
Arizona has many quality bank options ranging from large national banks to smaller community institutions. The banks on this list are among the best in Arizona, but it’s a good idea to consider alternatives that are available, such as online banks and local credit unions, so you can compare your options and choose the financial institution that best suits your needs.
Best Banks by Region
- Alabama
- Austin
- California
- Chicago
- Colorado
- Florida
- Georgia
- New Hampshire
- New York
- North Carolina
- Tennessee
- Texas
- Best Regional Banks
Cynthia Measom contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Sept. 4, 2023.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
GOBankingRates is a personal finance and consumer interest rate website and an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of GOBankingRates, which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account.
GOBankingRates bases its assessment of “best” and “top” products on the above-stated parameters to create a baseline for comparison. This assessment is an approximation of “best” and “top” designed to help consumers find products that might be appropriate for them. There could be other options available as well. Consumers should consider various options appropriate for their circumstances.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Chase.