Best Banks in Virginia
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
Banking in Virginia has some unique considerations. Much of Virginia is rural, where residents often rely on local bank branches and community-based institutions for everyday banking. Customers are likely to get more personalized service and more competitive rates from a smaller community-based bank, but there are also some national banks in the state that may offer valuable features and conveniences.
Find out about the best banks in Virginia, including the top options for checking, savings and certificate of deposit (CD) accounts.
Show More
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.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
TOP VIRGINIA BANKS AT A GLANCE
Bank/Institution
Savings APY
Notable Highlights
Find Out More
Detailed Reviews of the Best Banks in Virginia
Here’s a closer look at GOBankingRates’ selection of top banks in Virginia.
Gold Winner: Atlantic Union Bank
Atlantic Union Bank, a Virginia bank established in 1902, has a customer-first focus, offering fair solutions and honest guidance to account holders. Even as it grows, it strives to remain true to the values of a local bank focused on what it can do for its community.
Best For
Home Loans
Low Monthly Fees
Personal Loans
Mobile Banking
Business Banking
Multiple Checking and Savings Options to Fit Different Needs
Atlantic Union Bank stands out for its multiple checking and savings options. Whether you’re looking for anything from a checking account with no minimum or fees to a money market or CD account with an attractive rate, the bank has a selection of competitive products.
Total Branch Locations
Over 110
Mobile App Rating
4.3 on the Apple App Store and 4.5 on Google Play
Other Products Offered
Checking, savings, money market, CDs, personal loans, lines of credit, home equity loans, mortgage loans, auto loans, HSAs, IRAs, business accounts
Pros
- Full-service bank
- Variety of checking and savings options
- Free checking option
- Saturday banking hours at some locations
- Checking referral rewards
Cons
- Limited branch network
- Monthly fees on most checking accounts
- No high-yield savings account offered
Why We Like Atlantic Union Bank
Atlantic Union Bank is a full-service, community-focused bank that offers a suite of checking and savings products, including a free checking account. It also offers checking referral rewards from time to time. For convenience, the bank has Saturday hours at some of its branches.
Show Pros, Cons and More
Hide Pros, Cons and More
Silver Winner: First Citizens Bank
First Citizens Bank is a much bigger bank by assets than Atlantic Union, but it has a considerably smaller presence in Virginia. Only 38 branches are located in the state, which could be inconvenient for those who like to visit a branch regularly.
It ranks as one of the best banks in the state due to its full suite of products and services, free checking option and low minimum deposits. It also has a customer-first focus and is committed to helping families and businesses make the most of their finances.
Best For
Highly-Rated Mobile App
Low Monthly Fees
Home Loans
Credit Cards
IRA Options
Preferred Rates on Home Equity Lines of Credit (HELOCs) and CDs
If you upgrade to a Premier or Prestige Checking account, you get better rates on HELOCs and CDs. Both accounts have generous requirements for avoiding monthly maintenance fees. If you are borrowing money against your property, you can potentially save thousands of dollars with a lower rate.
Total Branch Locations
Over 600
Mobile App Rating
4.6 on the Apple App Store and on Google Play
Other Products Offered
Checking, savings, money market, CDs, IRAs, home loans, auto loans, wealth management, business banking, insurance, credit cards
Pros
- $100 minimum to open some accounts
- Preferred rates if you upgrade your bank account
- Multiple ways to waive monthly fees
Cons
- Low APYs for checking and savings accounts
- Higher monthly fees
- Limited nationwide branch access
Why We Like First Citizens Bank
First Citizens Bank lets you score lower rates when you borrow money through an equity line if you have a higher-level bank account. Customers benefit from wide branch access throughout the Carolinas and into Virginia.
Show Pros, Cons and More
Hide Pros, Cons and More
Bronze Winner: Wells Fargo
Wells Fargo is a national bank with more than $1.7 trillion in assets and 186 branches across Virginia. It ranks among the top Virginia banks due to its low minimum deposits and extensive product lineup. And while it may have a leg up on things like advanced technology and convenience, smaller Virginia banks may provide more personalized service and better rates or fees.
Best For
Credit Cards
National Banks
Home Loans
Auto Loans
Investments
Everyday Banking and a Variety of Services
Wells Fargo has several banking 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
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.
Show Pros, Cons and More
Hide Pros, Cons and More
Best Banks
Checking Accounts
Savings Accounts
CD Account Rates
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. 27, 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 Virginia
Choosing the right bank in Virginia largely depends on what you’re seeking in a bank. To help reach a decision, make a list of your banking needs and wants.
Here are a few points to consider:
- Do you want to visit a bank branch in person to make transactions and apply for loans? If it’s a priority, you’ll want to choose among banks that are within a comfortable driving distance from your home.
- Are you looking for the most competitive rates and the lowest fees? You may want to see what online banks in Virginia have to offer.
Final Take
Finding the right bank for you depends on what you need and want in a bank, such as low fees and great rates or a local bank within driving distance. Find out more about the best Virginia banks mentioned above to help determine the best one for you.
FAQs About Banking in Virginia
Here’s more information to help you find the best Virginia bank for your needs.- What is the best bank for high-yield savings in Virginia?
- You can shop local banks for high-yield savings rates, but you’ll probably find the best rates from online-only banks, like Ally, which offers an APY of 3.50%.
- Which banks have the most ATMs in Virginia?
- Besides Atlantic Union, Wells Fargo, Truist and Bank of America have the most branches in Virginia, so they’ll likely have the most ATMs too.
- Are there any banks in Virginia with no monthly fees?
- Most Virginia banks charge monthly fees on at least some of their products. Online-only banks and some credit unions may offer fee-free accounts across the board. However, if you want to be able to walk into a branch in Virginia, focus on banks that make it easy to waive monthly account fees by completing simple requirements.
More Resources for Banking
Best Banks
Checking Accounts
Savings Accounts
CD Account Rates
Money Market Accounts
Cynthia Measom contributed to the reporting for this article.
See Best Banks Winners From All Categories
