Best Banks in Alabama for 2024

Looking for the best bank in Alabama? Well, you’re in luck – Alabama has many banks and other financial institutions (like credit unions) offering excellent banking services.

This post provides a list of the best banks in Alabama and provides an overview of what they offer. All banks listed are FDIC-insured, meaning your money (up to $250,000) is protected.

10 Best Banks in Alabama

Here are the top 10 banks in Alabama:

  1. First Citizens: Best for Mobile Banking
  2. Ally Bank: Best for Online Banking
  3. CIT Bank: Best for No Monthly Fees
  4. PNC Bank: Best for Checking & Savings Combined
  5. Regions Bank: Best for Rewards Programs
  6. Peoples Bank of Alabama: Best for Community Banking
  7. First Community Bank of Central Alabama: Best Customer Service
  8. Liberty Bank: Best for Good APYs
  9. Bryant Bank: Bes tfor One-Stop Shop Banking
  10. Wells Fargo: Best for Large ATM Network

1. First Citizens Bank First citizens bank Logo

Best For: Mobile banking

First Citizens Bank is another great contender if you’re looking for a bank in Alabama. It offers personal and business banking services with a highly-rated mobile banking app.


The bank has a free checking account that doesn’t have a minimum balance requirement (if you enroll for paperless statements) and offers bill pay and 24/7 mobile deposits.

First Citizens Bank also has overdraft protection that lets you link a savings account or apply for a line of credit – but you will pay a $10 transfer fee for using it.

The bank also offers many options for those looking to save – from basic saving accounts to MMAs and CDs. The Money Market Account allows you to earn between 0.05 and 0.15% APY, depending on your balance.

First Citizens Bank also offers retirement accounts, mortgages, credit cards, and business and commercial banking products.


  • Monthly fees are waivable
  • Low opening deposit requirement
  • Highly-rated mobile banking app


  • Interest rates could be higher
  • Overdraft protection fee

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2. Ally Bank Ally bank Logo

Best For: Online Banking

Ally is a popular online bank for those who prefer to do their banking digitally. Services offered include auto loans, certificates of deposit, money market, and savings accounts.

Because it is an online-only bank without physical branches, its reduced overhead costs allow Ally Bank to offer great interest rates.


Ally Bank has one checking and one savings account. Its checking account, called ‘Spending,’ has no monthly maintenance or overdraft fees, and you get access to 43,000 fee-free ATMs. It also offers 2-day early access to direct deposit.

Its savings account has ‘buckets’ that allow you to set up different saving goals. You can also set up boosters, including round-ups and surprise savings, allowing Ally to send money to your savings account when it notices you have ‘free money.’

Ally Bank does not offer business banking products.


  • Offers a smooth digital experience
  • Above-average interest rates
  • No monthly maintenance fees


  • No brick-and-mortar branches
  • Limited credit card options


3. CIT Bank Cit bank Logo

Best For: No monthly fees

CIT Bank is an online bank offering competitive interest rates on savings, no-penalty CD, and MMA accounts. It became a division of First Citizens Bank in 2022.

The bank offers many banking services, such as high-yield savings, money market, custodial, and CD accounts.

In addition, it offers other financial services, like mortgage loans and business banking, that could be great for small businesses.

With this extensive selection of products and great APY, CIT Bank could be a one-stop shop for those looking for the best bank in Alabama – as long as they don’t mind not having a brick-and-mortar branch to visit.


  • Competitive interest rates
  • Wide range of financial services
  • No monthly fees


  • Online-only bank, so no physical branches
  • CIT mobile banking app rating could be higher


4. PNC Bank PNC bank Logo

Best For: Checking & Savings Combined

PNC is a national bank, which makes it an accessible option no matter where you live.

PNC Bank is a particularly great option for students living in Alabama. It offers various financial products, including education loans, low monthly maintenance fees, and high-rated customer service.


Students will find many personalized accounts and plans, such as their Virtual Student Wallet® account. The plan consists of a bundle of accounts that function as one digital money-management tool.

On top of offering many account and loan options, PNC also has many helpful resources for those looking to take out loans. That said, the bank doesn’t offer the best CD or saving account rates, but they have solutions for business and commercial banking needs.


  • Wide range of education loans
  • Over 60,000 fee-free ATMs and 2,300+ branches
  • Grace period before having to pay overdraft fees


  • Rates depend on location (some pretty low)
  • Expensive overdraft fee ($36)


5. Regions Bank Regions bank Logo

Best For: Rewards Programs

Regions Bank is a regional bank that offers various financial services and account options in the South and Midwest. It’s a great option for those seeking one financial institution for all their financial needs.

The bank operates over 700 offices and 2,000 ATMs across 15 states.


Regions Bank offers many rewards programs on checking and savings accounts. However, interest rates are low – and you will pay a fee for withdrawals from your savings account.

The basic checking account comes with a $5 monthly maintenance fee you can’t avoid paying. But you won’t pay overdraft fees; you’ll get unlimited check writing and access to online bill pay.


  • Rewards programs on savings and checking accounts
  • Many account options and financial services
  • A large presence in Alabama


  • Interest rates could be higher
  • Fee for withdrawals from the savings account


6. Peoples Bank of Alabama peoples bank of alabama Logo

Best For: Community Banking

Peoples Bank of Alabama is a local community bank considered one of the top local banks in Alabama.


The Peoples Choice Checking account has no monthly fee and includes online banking, Zelle, bill pay, and 24/7 deposits at Peoples Bank ATMs. The account also offers several overdraft options with no transfer fees.

The Peoples Choice Savings account requires a $50 opening deposit and a $100 balance to avoid the $5 monthly fee. Interest compounds quarterly and withdrawals exceeding six incur a $2 fee.

Peoples Bank also offers CDs, money market accounts, Christmas Club savings, and business banking products.


  • Robust online banking
  • Many checking account options
  • Wide variety of other financial products


  • No promotions
  • Limited locations


7. First Community Bank of Central Alabama

Best For: Customer Service

First Community Bank of Central Alabama is a commercial bank that receives good customer reviews.

Founded in 2001, the bank is all about the community – and it believes that a financial institution should understand the financial needs of the community it serves.


The bank offers a free checking account, several savings accounts, loan options, wealth management services, and business accounts that small businesses might find useful.

The minimum deposit for most accounts is $100. You can earn variable interest on checking account balances of $2,500 or more.


  • Interest-bearing checking account available
  • Free cashier’s checks
  • Monthly fees fairly easy to waive


  • Limited locations
  • Minimum deposit required


8. Liberty Bank

Best For: Good APYs

Liberty Bank is another option for those looking to open a bank account in Alabama. It was founded in 1971 and is a true community bank, catering to its customers’ needs.


Liberty Bank’s savings account rates are higher than most brick-and-mortar banks offer. You can open a savings account with a minimum deposit of $25.

However, high-yield accounts at online banks will still beat what Liberty Bank offers. One thing worth noting is that you can only withdraw from the savings account six times before paying a fee.

Liberty Bank’s checking account has a monthly maintenance fee of $5 if your balance drops before $500. The fee increases by $1 per each additional $100 drop.

You can also find personal loans at Liberty Bank, along with business banking products.


  • Decent rates for savings accounts
  • The monthly maintenance fee can be waived
  • Low minimum deposit for the savings account


  • No credit cards
  • The annual fee increases the less money you have


9. Bryant Bank

Best For: One-stop shop banking

Those who prefer a small community bank offering personalized service to a large national bank should consider Bryant Bank. In 2020, Newsweek recognized the bank as the best small bank in Alabama.


The bank offers personal, business, and mortgage banking services to Alabamians. It prides itself on delivering exceptional customer service, making it a great option if you want a more personalized banking experience.


  • Overdraft protection
  • Highly rated by customers
  • Delivers personalized experience


  • Not transparent with rates
  • Savings account requires a $100 daily balance


10. Wells Fargo Wells Fargo Logo

Best For: Large ATM Network

Wells Fargo is a serious contender if you’re looking for a bank with a large branch network. It offers a massive network of branches and many ATMs across the U.S. Wells Fargo has over 5,600 branches and over 12,000 ATMs across the U.S.


Wells Fargo offers a handful of checking accounts, including Everyday Checking, that require a $25 opening deposit and charges a $10 monthly fee that’s waivable. The account includes Zelle, bill pay, and mobile deposit.

There are monthly maintenance fees (starting from $10) that you can easily waive if you meet the criteria – but you will find that savings interest rates could be higher. The savings account interest rate is 0.01% right now for its Way2Save, which is below average.

Wells Fargo offers extensive financial services, from bank accounts and investing to personal and auto loans. They also offer small business and commercial banking.


  • Massive branch network across the U.S.
  • Wide range of financial services
  • Monthly maintenance fees easy to waive


  • $35 overdraft fee
  • APY on standard savings account could be higher


How to Choose the Best Bank in Alabama

At, we’re committed to providing consumers with the resources they need to select a bank or credit union.

  • Understand different types of banks: You have access to traditional banks, online banks, credit unions, and neobanks. It’s important to understand the differences between them and determine which type of institution aligns best with your preferences.
  • Choose the right account: Checking, savings, money market, and certificate of deposit accounts are the most common types of bank accounts. Understand what each offers and choose a bank with the type of account(s) you need.
  • Look for low-fee banks: Account fees can add up quickly. As you compare bank accounts, look for an account that doesn’t charge unavoidable monthly maintenance fees, overdraft fees, and ATM fees.
  • Consider branch and ATM access: If having access to branches matters to you, choose a bank with physical locations. Regardless, you should prioritize banks that have a vast ATM network or reimburse ATM fees.
  • Compare account features: Determine which features you’re looking for. A few common bank account features to consider are interest, cashback, mobile features, cash deposits, and minimum account balance requirements.
  • Check out reviews and ratings: It’s crucial to pick a reputable bank. To get an idea of a bank’s customer experience, you can read expert reviews and look to sources like TrustPilot, the Better Business Bureau, and J.D. Power.
  • Read the fine print: Don’t sign up for an account without understanding the terms and conditions. Make sure the account is FDIC or NCUA insured and get a sense of its requirements, fees, and expiration dates for bank bonuses.
  • Look at the bank’s additional products: If you want to manage all of your finances under one roof, look into each bank’s additional products. A lot of banks also offer credit cards, wealth management, investment accounts, and loans.

Our Methodology

The BankBonus team has analyzed dozens of banks to provide our readers with thoroughly informed and accurate reviews. We evaluated digital financial platforms, online banks, regional banks, and national banks with a presence in Alabama.

Our assessment of each bank factors in these considerations:

  • Product lineup: We review the types of accounts, loans, and services offered by each bank, as well as the number of accounts.
  • Fees and pricing: We also consider each institution’s fees, including monthly maintenance fees and other service charges.
  • Account features: To compare banks, we take a close look at the features, limits, and capabilities each one has to offer.
  • Interest: Along with these features, we consider whether or not the bank offers interest-bearing accounts and compare their rates to industry averages.
  • Brand reputation: The bank accounts we recommend have been carefully vetted to ensure they are legitimate, secure, and backed by FDIC insurance.
  • User experience: Additionally, we consider the ease of use and availability of resources on each bank’s website and factor in reviews of the mobile app from the Apple App Store and Google Play Store.
  • Branch and ATM access: To gauge convenience, we also look at each bank’s branch and ATM availability and consider their ATM reimbursement policies.
  • Customer service: In our review process, we also explore their customer service channels, hours of availability, and third-party reviews.

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