Best Banks in Arizona for 2023

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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:


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.
    The number of account options and financial services available are impressive. You'll find banking, loans, credit cards, retirement planning, business banking, investing and wealth management. If branch availability is important to you, you'll find hundreds of Chase branches across Arizona.
      • 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
      What to look for: Take advantage of Chase's full offerings, including mortgage loans, checking accounts and savings accounts, to qualify for better relationship rates and waived monthly maintenance fees. READ OUR FULL REVIEW
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      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 has physical branches and ATMs in 42 Arizona cities. However, its website and mobile app are good alternatives to visiting a branch, making it possible to handle most of your banking needs any time of the day. Pay bills, transfer funds and manage your Bank of America loans and accounts all in one place. A digital assistant named Erica is on standby to help you with tasks such as setting up notifications or regularly updating you on your spending.
          • 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
          What to look for: Bank of America understands you're likely to have evolving needs over time. Its checking product can toggle between three phases depending on your needs. Start with Bank of America Advantage SafeBalance Banking®, the lowest-cost level of checkless banking with a $4.95 monthly maintenance fee. The fee can be waived if you're a student or enrolled in Preferred Rewards. You can always upgrade to the two other account levels featuring paper checks, overdraft protection and interest without having to close your existing account. READ OUR FULL REVIEW
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          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
            What to look for: While the entry-level bank accounts are a plus, watch out for hidden charges, such as overdraft fees. Wells Fargo can charge you up to three $35 overdraft fees per day if your balance falls into the negative.
              Enabling overdraft protection for your checking account and debit card can help you avoid pricey overdraft fees. READ OUR FULL REVIEW

              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.
                U.S. Bank also offers higher-yield interest rates than many other banks. If you can hold your money in an account for an extended period of time, the bank's certificates of deposit specials have lucrative APYs, particularly for the 11-month term.
                  • 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
                  What to look for: You can open the Elite Money Market account with just $100 and start earning interest right away. The $10 monthly maintenance fee can be waived with a $10,000 daily balance. READ OUR FULL REVIEW
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                  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.
                    BMO has branches throughout the state, conveniently located in retailers and businesses such as gas stations, CVS pharmacies and Safeway markets.
                      • 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
                      What to look for: The Smart Money or Smart Advantage checking accounts are both low-cost options. Smart Advantage has no monthly maintenance fees. Smart Money checking comes with a $5 monthly maintenance fee if you're 25 or older but doesn't have any overdraft fees. READ OUR FULL REVIEW

                      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.
                        If you're ready to try your hand at more advanced banking such as a money market account, you'll find that First Citizens offers unlimited transactions for money market holders as long as the transfers and withdrawals are made at the Tucson, Scottsdale or Chandler branch.
                          • 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
                          What to look for: Besides the quality money market account, the free checking account is a good way to get started with the bank. There are no monthly fees, and overdraft protection is included to help you avoid pricey non-sufficient funds charges. Start with $50 or more, without having to maintain a minimum balance. READ OUR FULL REVIEW
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                          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. 
                            There are four branches in the state when you need personalized help. For everyday banking activities, the mobile app and website have all the tools you need to manage your accounts.
                              • 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
                              What to look for: BOK Financial offers promotional CD rates of 5.10% APY on 10- and 17-month CDs. READ OUR FULL REVIEW


                              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
                                What to look for: The Bloom Package is another good starting option, providing interest-earning basic checking and savings. There are no monthly maintenance fees to worry about or minimum opening requirements. READ OUR FULL REVIEW
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                                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

                                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.

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                                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.

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