Best Florida Banks of April 2020

See the features, rates and fees for the best Florida banks.

Whether you’re looking for a high savings account interest rate, an affordable mortgage, comprehensive banking services, a bank loan with low loan rates, or a checking account with the best interest rates from a bank in Florida, you’ll find it here in the GOBankingRates list of best Florida banks.

GOBankingRates selected the top banks in Florida based on the number of branches, checking account fees, savings account interest rates and available products. Find out what each bank has to offer to see if there’s one that’s worth a second look.

This guide will cover the following:

Best Banks in Florida at a Glance

Here’s a quick overview of the best Florida banks:

Best Florida Banks at a Glance: April 2020
BankChecking FeeSavings APY12-Month CD APYATM Access
Amerant$5-$35o.25%1.00% 24-hour ATMs at all Amerant branches, limited surcharge-free transactions at Allpoint and Presto! ATMs
Suncoast Credit Union$00.15%0.75%Surcharge-free access to Suncoast Credit Union, CO-OP and Presto! ATMs
First Citizens Bank$00.03%0.15%Free ATMs at First Citizens branch locations
Chase$12-$25 per monthUp to 0.05%Up to 0.05%Free transactions at Chase ATMs

    More on Savings: Best Online Savings Accounts For Earning High-Yield Profits

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    Reviews of Best Banks in Florida

    To help people choose the best Florida credit unions and banks, GOBankingRates evaluated banks based on:

    • Customer service
    • Account fees
    • Savings account and CD yields
    • Overall financial strength

    All of the best Florida banks and credit unions excel when it comes to service, competitive rates, low fees and significant assets. One of these institutions might be the right bank for you:


    Amerant

    Where It Is Located: Headquartered in Coral Gables with branches throughout the greater Miami and Fort Lauderdale areas

    Why Consumers Like It: Friendly service, local expertise and digital services

    Products Offered: Checking, savings, loans, credit cards, business banking and wealth management services

    Benefits:

    • Personal service
    • Referral bonuses
    • Rewards for having multiple products

    Drawbacks:

    • Relatively limited service area

    Fees:

    • $5 per month for Value Checking (can be waived if you enroll in online statements)
    • $15 per month for Interest Checking (can be waived with a $2,500 average balance per statement cycle)
    • $35 per month for Relationship Interest Checking (can be waived with a $50,000 combined balance across accounts and monthly direct deposit or 10 transactions per cycle)

    Compare: Best and Worst Monthly Maintenance Fees at 12 Top Banks

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    Minimum Deposit:

    • Checking: $50-$100
    • Savings: $50
    • CDs: $10,000

    Minimum Balance:

    • Checking: $100 to earn interest
    • Savings: $50 to earn interest
    • CDs: $10,000

    Rates (Annual Percentage Yield):

    • Checking: Tiered rate for Interest Checking, Variable Rate for Relationship Interest Checking
    • Savings: 0.25%
    • CDs: Up to 1.05%

    Access (ATM): 24-hour ATMs at all branches, surcharge-free cash withdrawals and balance inquiries at Allpoint and Presto! ATMs

    How To Open an Account: Visit an Amerant branch or its website.

    More on Banking: Best Online Checking Accounts at a Glance

    Suncoast Credit Union

    Where It Is Located: Headquartered in Tampa

    Why Consumers Like It: Largest credit union in Florida and offers several member perks and discounts.

    Products Offered: Checking, savings, loans, credit cards, business banking and wealth management services

    Benefits:

    • Personal service
    • Member perks
    • Discounts

    Drawbacks:

    • Relatively limited service area

    Fees:

    • $0

    Minimum Deposit:

    • Checking: $0 ($5 if opening account online)
    • Savings: $0-$5
    • CDs: $50-$500

    Minimum Balance:

    • Checking: $0
    • Savings: $0-$5
    • CDs: $50-$500

    Rates (APY):

    • Checking: 0.05%
    • Savings: 0.15%
    • CDs: Up to 1.60%

    Access (ATM): Surcharge-free ATM access at all Suncoast ATMs, CO-OP network ATMs and Presto! ATMs

    How To Open an Account: Visit a Suncoast Credit Union branch or its website.

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    Serving the Sunshine State: Suncoast Credit Union Review

    First Citizens Bank

    Where It Is Located: Branches throughout Florida

    Why Consumers Like It: Extensive branch network and a range of products, including insurance.

    Products Offered: Checking, savings, loans, credit cards, insurance and investment and retirement services

    Benefits:

    • Wide range of financial services
    • Extensive branch network

    Drawbacks:

    • Relatively low-interest rates compared to other banks

    Fees:

    • $0 for Free Checking

    Minimum Deposit:

    • Checking: $50
    • Savings: $100
    • CDs: $500

    Minimum Balance:

    • Checking: $0
    • Savings: $300 to have fees waived
    • CDs: $500

    Rates (APY):

    • Checking: 0% for Free Checking
    • Savings: 0.03%
    • CDs: Up to 0.20%

    Access (ATM): Free ATM access at all First Citizen ATMs

    How To Open an Account: Visit a First Citizens branch or its website.

    See: Best First Citizens Bank Promotions, Bonuses and Offers

    Chase bank logoChase

    Where It Is Located: National bank with branches throughout Florida

    Why Consumers Like It: Branches outside of Florida — a plus for part-time residents

    Products Offered: Checking, savings, loans, credit cards, business banking and investment services

    Benefits:

    • Extensive branch network
    • Wide range of products
    • Website available in Spanish

    Drawbacks:

    • Low-interest rates on savings accounts and CDs

    Fees:

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    • Checking: $12-$25, which can be waived if balance or direct deposit requirements are met
    • Savings: $5-$25, which can be waived if balance requirements are met
    • CDs: $0

    Related: How Long Does It Take a Check To Clear?

    Minimum Deposit:

    • Checking: $0
    • Savings: $0
    • CDs: $1,000

    Minimum Balance:

    • Checking: $0
    • Savings: $0
    • CDs: $1,000

    Rates (APY):

    • Checking: Up to 0.01%
    • Savings: Up to 0.05%
    • CDs: Up to 0.20%

    Access (ATM): Free ATM access at all Chase ATMs

    How To Open an Account: You can open an account by visiting a Chase branch or by visiting its website.

    Find Out: Chase Bank Review — Is It the Right Bank for You?

    How To Choose a Bank

    Choosing the right bank for you is simple once you review a few different points of reference. Low fees are an obvious draw, and higher-yields for your checking and savings accounts will also be a great indicator that you’ll enjoy banking with that institution. Look for generous account offerings or rewards and promotions. Those can indicate the institution has a strong financial health standing, which is important for long-term assurance.

    If you aren’t ready to do all your banking online and prefer a personal touch, be sure the bank you’re considering has branch locations near you. Similarly, search the bank’s ATM locations — you’ll want at least one nearby for convenience.

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    When you’re not concerned with fees and you know your money is earning interest in a healthy financial institution, you can spend your time on things that will help grow your worth, like advancing your investment portfolio.

    More From GOBankingRates

    Rates and fees are accurate as of April 3, 2020, and subject to change.

    This article has been updated with additional reporting since its original publication.

    This content is not provided by the financial institutions mentioned. 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 financial institutions.

    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 or commissioned by the bank advertiser. Opinions expressed here are author’s alone, not those of the bank advertiser, and have not been reviewed, approved or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.

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    About the Author

    After earning a B.A. in English with a Specialization in Business from UCLA, John Csiszar worked in the financial services industry as a registered representative for 18 years. Along the way, Csiszar earned both Certified Financial Planner and Registered Investment Adviser designations, in addition to being licensed as a life agent, while working for both a major Wall Street wirehouse and for his own investment advisory firm. During his time as an advisor, Csiszar managed over $100 million in client assets while providing individualized investment plans for hundreds of clients.