Best Banks in South Dakota
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
South Dakota offers a solid mix of regional and national banks. If nationwide branch access is a priority, Wells Fargo is a strong option. For more personalized service, First Dakota National Bank and CorTrust Bank National Association stand out. Check out GOBankingRates’ guide for the best banks in South Dakota for 2025, including top choices for checking, savings and certificates of deposit (CDs).
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TOP SOUTH DAKOTA BANKS AT A GLANCE
Bank/Institution
Savings APY
Notable Features
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Detailed Reviews of the Best Banks in South Dakota
Here’s a look at the top banks in South Dakota for 2025.
Gold Winner: First Dakota National Bank
First Dakota National Bank was founded in 1872 and has a strong regional presence in Southeastern South Dakota. The bank is known for its community service, but also offers a variety of financial products, including checking, savings and money market accounts. The bank also offers business banking, investments and loans. 
Best For
Mobile App
Low Monthly Fees
Loan Options
Investment Services
Credit Cards
Fee-Free Checking Accounts
First Dakota National Bank stands out for its Free Checking account and savings options as well as its extensive ATM network. Certain checking accounts offer rewards like travel perks and notary services. Money market accounts come with rates up to . 
Total Branch Locations
25
Mobile App Rating
4.9 on the Apple App Store and 4.6 on Google Play
Other Products Offered
Checking, savings, credit cards, CDs, loans 
Pros
- Fee-free checking
- Strong community focus
- Highly rated mobile apps
Cons
- Low savings rates
- High overdraft fees
Why We Like First Dakota National Bank
First Dakota National Bank offers a complete free checking account and a savings account with competitive interest rates. In addition, customers get access to fee-free ATMs nationwide.
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Silver Winner: Wells Fargo
Wells Fargo has an extensive network of bank branches across 36 states. The bank offers four checking accounts in addition to online and in-person CD options. The mobile app is also highly rated by users.
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: CorTrust Bank National Association
CorTrust Bank National Association offers a variety of accounts, including personal loans, savings and CDs. Mortgage servicing is done in-house. The bank has a great reputation for having solid customer service. 
Best For
Digital Banking
Mortgages
Investment Services
Low Monthly Fees
Auto Loans
Competitive APYs on Savings Accounts
CorTrust Bank National Association stands out for its three savings accounts, which cater to different types of savers. Also, customers love that mortgage loans happen in-house, which makes the process more efficient.
Total Branch Locations
Over 35
Mobile App Rating
4.6 on the Apple App Store and 3.9 on Google Play
Other Products Offered
Checking, savings, investments, loans, mortgages
Pros
- Mortgage servicing in-house
- Good customer service
Cons
- No 24/7 access to customer service
- ATM access is limited
Why We Like CorTrust Bank National Association
CorTrust Bank National Association provides customers with a choice of three savings accounts along with CDs, which typically require a $500 minimum deposit, though some shorter terms may have higher requirements. In addition to branch access, CorTrust also offers digital banking tools, making it a convenient option whether you prefer in-person service or managing your money on the go.
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Best Banks
Find the Best Checking Accounts
Best Savings Accounts
CD Account Rates
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 Aug. 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 South Dakota  
When choosing a bank in South Dakota, the right fit depends on your financial goals and how you like to manage your money. Here are a few key factors to help guide your decision:
- Local vs. national banks: National banks generally have more branches and access to ATMs. Local banks have customer service representatives you can meet with in person. Decide which option fits best with your financial needs. 
- Digital banking availability: In this tech-savvy world, digital banking is a must. Check whether the platform is user-friendly and syncs well with external accounts. 
- Branch and ATM access: How often do you need to go to a branch? Do you travel and need ATM access? If branch and ATM access are important for you, consider a national bank for your finances. 
- Fee structures and waivers: If you have trouble keeping up with minimum balances, then check for banks that do not require set amounts. If they have minimums, determine if there are waiver requirements that are easy to meet. 
- Community involvement: If you want to know if your bank is giving back to the community, take a look at their website to see how they’re supporting regional and national charities. 
Final Take
Selecting the right bank in South Dakota is highly dependent on whether you want a high APY, digital access or in-person customer service. Explore the best banks in South Dakota for 2025 and start your application today.
FAQs About Banking in South Dakota
Here's more information to help you find the best South Dakota bank for your needs.- What is the best bank for high-yield savings in South Dakota?
- CorTrust Bank National Association offers competitive APYs across its savings accounts, while First Dakota National Bank’s money market options can reach rates up to 2.84%.
- Which banks have the most ATMs in South Dakota?
- Wells Fargo has one of the largest ATM networks in the country, making it a convenient choice for frequent travelers. First Dakota National Bank also provides customers with an extensive local ATM network.
- Are there any banks in South Dakota with no monthly fees?
- First Dakota National Bank is known for its Free Checking account, while CorTrust Bank National Association offers low-fee options that help keep monthly costs manageable.
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