Best Banks in Alabama

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

Finding the best bank for you will depend on what services you’re after and your preferences. Whether you prefer national or community banks, want the highest APY in the state, or are looking for small business banking services, you’re bound to find a bank in Alabama that meets those needs.

This post will list the best banks in Alabama and provide 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
  2. Ally Bank
  3. CIT Bank
  4. PNC Bank
  5. Regions Bank
  6. Peoples Bank of Alabama
  7. Wells Fargo
  8. First Community Bank of Central Alabama
  9. Liberty Bank
  10. Bryant Bank

1. First Citizens Bank First citizens bank Logo

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 saving 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.


  • No monthly fees on savings or checking accounts
  • Highly-rated mobile banking app


  • Interest rates could be improved
  • Overdraft protection fee

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2. Ally Bank Ally bank Logo

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 offers mobile banking apps for both Apple and Android devices. Its Apple app gets excellent reviews, while the Android app’s ratings are lower.


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


  • No brick-and-mortar branches
  • Limited credit card options
  • Android app reviews could be higher

3. CIT Bank Cit bank Logo

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 a wide range of 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

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.


  • Wide range of education loans
  • Over 60,000 fee-free ATMs and 2,600+ 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

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 looking for one financial institution for all their financial needs.

The bank operates over 1,500 offices and 2,000 ATMs across 16 states, with over 180 branches in Alabama.

Regions Bank offers many rewards programs on checking and savings accounts. However, interest rates are on the low side – 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, and 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 is a local community bank considered one of the top local banks in Alabama.

The eCheckingPlus account is great for everyday purchases, as it has no monthly maintenance fees or minimum balances.

There is a $50 minimum deposit to open the account, and the account will earn you interest if you reach a balance of $25,000.

You can get a monthly refund of $6 of ATM fees if you opt for e-statements or make 10+ debit card purchases.

One of Peoples Bank of Alabama’s best assets is the myEasyAdvisor program – an automated, personalized financial advice tool offering guidance on saving and managing your financial situation.


  • Personalized financial advice
  • Many checking account options
  • Wide variety of other financial products


  • Quite high balances are needed to earn APY
  • Bank branches only in Alabama

7. Wells Fargo Wells Fargo Logo

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. As of 2022, Wells Fargo has over 4,700 branches and over 13,000 ATMs across the U.S.

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.


  • 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

8. First Community Bank of Central Alabama

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


  • Need to maintain a balance of $2,500 to waive fees
  • Minimum deposit required

9. Liberty Bank

Liberty Bank is another option for those looking to open a bank account in Alabama. The bank’s savings account rates vary depending on your location, but the 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 twice before paying a fee – unlike six times monthly, which is what most banks offer per federal regulation.

Liberty Bank’s checking account has a monthly maintenance fee of $5 if your balance drops before $400. The fee increases by $1 per each additional $100 drop.

You can also find personal loans at Liberty Bank – however, credit card offers could be better.


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


  • Limited credit card options
  • The annual fee increases the less money you have
  • No credit card rewards or perks

10. Bryant Bank

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.

The bank has a fairly recent mobile banking app for those looking to do banking online.

When it comes to personal banking, Bryant Bank offers checking and savings accounts, as well as personal loans. You’ll also find instant-issue debit cards and credit cards. You can open the Basic Savings Account with a small $100 minimum deposit and are allowed six quarterly withdrawals. The savings account will earn you interest, but you may need to pop into the bank or contact a customer representative to find out how much, as this information doesn’t appear on the bank’s website.

If you run a small business, it’s worth checking out Bryant Bank’s business banking services.


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


  • Saving account rates are not available online

Choosing the Best Bank in Alabama

When looking for the right bank for you, make sure to consider the following:

  • Account Types: Banks offer many accounts, but not all might offer the right account for you. Before deciding which bank to go with, you should first see whether it offers what you’re after – whether it’s money market accounts, savings accounts, certificates of deposit, or something else.
  • Banking Fees: It’s always worth looking for a bank with low fees. While some banks charge monthly maintenance fees, many don’t – or give you easy criteria you can meet to avoid paying them. Some banks may charge fees for withdrawing from out-of-network ATMs or getting into your overdraft. Make sure you know the fees before applying for an account, as they can easily add up. Online banks are typically known for their low fees.
  • Online Bank vs. Physical Branches: While online banks have lower fees, you might prefer a local bank you can pop in to for personalized help and advice. If that’s important to you, make sure you choose a bank that you can visit.
  • Your Financial Goals and Lifestyle: The bank you ultimately choose should meet your financial needs. For example, if you’re a small business owner, you may want to choose a bank that supports you as you grow your business. If you’re trying to buy your first property, you’ll want to choose a bank that offers mortgage loans.
  • Digital Features: While most banks now have digital tools and mobile banking apps, some may not. If you’d like to complete banking tasks from the comfort of your home, choosing a bank with a strong app and convenient online banking features is a must.
  • The Bank’s Terms and Conditions: Know what you’re applying for before becoming the bank’s customer. Terms and conditions typically list very important information. However, not everyone gives them as much attention as they should. Make sure you review these terms carefully so you don’t overlook things like hidden fees.

Frequently Asked Questions

What’s the best bank in Alabama?

Choosing one bank as the best in Alabama is difficult, as different people have different banking needs.

The best bank in Alabama for you will depend on your financial requirements and preferences. Some customers look for the highest APY on savings accounts, while others want to do all their banking with a local bank they can visit for help and advice. Some will want the bank they use for personal banking to offer trustworthy business banking services – while others care about getting the best credit card rewards and perks.

The best bank for you will be the one that delivers everything you look for in a financial institution and more. Make sure you review our list of the best banks in Alabama to make an informed decision.

What’s the most popular bank in Alabama?

Regions Bank has the most significant presence in Alabama. It has over 220 bank branches in Alabama and controls over 20% of the wealth in the state.

What are the largest banks in Alabama?

There are currently over 100 banks in Alabama. Some of the largest ones based on the number of branches are Regions Bank, PNC Bank, BBVA Bank (formerly BBVA Compass), and Wells Fargo.

Does Alabama have a Chase bank?

JPMorgan Chase is the nation’s largest bank. However, it has very few bank branches in Alabama. In 2019, Chase opened its first bank branch in the state and currently has three bank branches in Alabama: Auburn, Birmingham, and Tuscaloosa.

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