10 Best Banks in Arizona 2024

I lived in Sedona for a few months when I was finishing my first book, and it’s one of my favorite places in the U.S.

With around 7.3 million residents, Arizona is the 14th most populous state in the US, according to Census Bureau data. Like all big states, Arizona has a lot of banks to choose from, and narrowing down the choices can be overwhelming.

To help you out, we’ve identified the best banks in the state based on factors like their product availability, features, fees, accessibility, and customer experience, including local options, national chains, and online banks.

10 Best Banks in Arizona

Here are the top banks in Arizona you can open an account with today:

  1. U.S. Bank
  2. First Citizens Bank
  3. OneAZ Credit Union
  4. Bank of America
  5. National Bank of Arizona
  6. PNC Bank
  7. BMO Bank
  8. Chase Bank
  9. MidFirst Bank
  10. Alliance Bank of Arizona

1. U.S. Bank

Best For: Checking Account Bonuses

With more than 2,000 locations in 26 states, U.S. Bank is one of the biggest banks in the Western States. 49 of its branches are scattered across Arizona. It’s a great option if you tend to travel throughout the West and are looking for a wide range of financial services.

U.S. Bank offers personal banking, small business banking, credit cards, loans, and wealth management services. It has an excellent mobile app and online banking platform, and it’s our top pick for earning competitive checking account bonuses.

Accounts

U.S. Bank has a Smartly rewards checking account and a Safe Debit account, with exclusive military and student account options. Smartly Checking offers mobile deposits, overdraft protection, automated bill pay, and Zelle instant transfers.

You can also open a standard savings account, money market account, or CD account. Most U.S. Bank accounts come with monthly fees, but they can usually be waived.

Unfortunately, U.S. Bank’s savings rates aren’t the most competitive. If you’re looking for a high-yield U.S. Bank account, your best option is a CD. Their limited-time Special CDs tend to offer the highest rates.

Pros:

  • Wide variety of accounts
  • Large branch network in AZ
  • Overdraft protection

Cons:

  • Uncompetitive APY
  • Monthly fees

2. First Citizens Bank

Best For: Checking Accounts

First Citizens Bank is the 15th largest national bank, with over $209 billion in total assets.

First Citizens Bank reaches a nationwide audience through its online presence, but it also has several physical branches in Arizona,

The bank is big enough to offer a comprehensive lineup of products and services customers need – including bank accounts, credit cards, retirement accounts, mortgages, loans, and insurance – but small enough to be a community bank.

Accounts

First Citizens Bank offers personal checking accounts, savings accounts, MMAs, and CDs, as well as small business and commercial bank accounts.

It stands out most for its checking accounts, with three flexible checking account options and an online feature that recommends the best account for you based on your preferences.

You can choose from the Free checking account, which has no monthly fees or minimum balance requirements, with a user-friendly mobile banking platform. Or you can opt for the Premier or Prestige accounts, which come with waivable monthly fees, preferred rates, and interest.

Pros:

  • Extensive product lineup
  • Fee-free account options
  • Specialty CD options

Cons:

  • Mediocre savings APY
  • No welcome bonuses

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3. OneAZ Credit Union OneAZ Credit Union Logo

Best: Credit Union in AZ

OneAZ Credit Union has been around since 1951 and was created for state employees. Today, it has over $3 billion in assets and is completely member-owned, allowing it to offer higher interest rates and lower fees.

The credit union has 20 branches throughout the state of Arizona and a network of over 41,000 fee-free ATMs. With its widespread accessibility and competitive accounts, OneAZ is our top pick if you’re looking to bank with a credit union in Arizona.

Accounts

OneAZ Credit Union has three checking accounts, including a free basic checking account, an interest-bearing account, and a Benefits account that offers perks like APR discounts, credit monitoring, and identity theft restoration.

On the savings side of the house, you can choose between four savings accounts, an MMA, and a CD account. The Share Savings account pays a lower APY but allows you to buy a share of the credit union. Its most popular savings option, the Propel Savings account, pays tiered interest, with accounts under $10,000 earning a competitive APY.

In addition, you can earn a $300 bonus by opening a OneAZ account and setting up direct deposit for at least $1,000 for two months. Arizona residents can open an account online to earn the bonus.

Pros:

  • Several savings account options
  • Highly rated mobile app
  • Competitive sign-up bonus

Cons:

  • Most accounts require a minimum deposit
  • Capped interest on higher savings account balances

 


4. Bank of America Bank of America Logo

Best For: Mobile Banking

Bank of America is best known for its massive presence in the East, but with more than 40 branch locations throughout the state, it’s a solid option for Arizona residents.

As a Big Four bank, Bank of America comes with a wide breadth of banking services, account options, and avenues for customer support. Plus, it offers mortgages and home equity loans, credit cards, and a full-service investment platform.

Bank of America won our vote for mobile banking, with more than 5.4 million app reviews and an average rating of 4.8 in the App Store and 4.6 in the Google Play Store.

Accounts

Bank of America offers a SafeBalance checking account for new bankers, as well as the Advantage Plus account, which comes with features like overdraft protection, check writing, mobile deposits, and a budgeting tool. There’s also an Advantage Relationship account that earns interest and eliminates several fees. Each of these accounts has a waivable monthly maintenance fee.

Bank of America offers one savings account, with increased perks for accountholders who are enrolled in the Preferred Rewards program, such as a waived monthly fee and slightly higher interest rates. You can also open a handful of CDs.

The downside is that, like its big bank counterparts, Bank of America’s savings rates are lackluster. It also tends to charge numerous account fees, and only some of them are avoidable.

Pros:

  • Extensive branch and ATM network
  • Excellent mobile app
  • Lower overdraft fees than other big banks

Cons:

  • Low-interest rates on savings accounts
  • Minimum balances and monthly fees

 


5. National Bank of Arizona National Bank of Arizona Logo

Best: Community Bank in AZ

Based in Phoenix, the National Bank of Arizona has 20 branches scattered throughout the state. It’s owned by Zions Bancorporation, a member-FDIC bank and holding company.

We recommend the National Bank of Arizona if you’re looking for a local bank with its roots in Arizona. If you’re looking for a full-service community bank but don’t want to compromise on locations, account variety, or mobile banking experience, it’s a solid option.

Accounts

National Bank of Arizona offers a wide range of banking products with eight different checking accounts, two savings accounts, and a handful of CD and Money Market options.

Among its checking accounts, you can choose from basic and interest-bearing accounts, as well as specialized military, senior, and Private Banking accounts. Overall, these accounts offer perks like Zelle instant payments, online bill pay, and overdraft protection.

National Bank of Arizona’s fee schedule mirrors other traditional banks, with most accounts having waivable monthly maintenance fees. And like these banks, its standard savings account offers mediocre interest rates.

Pros:

  • Extensive checking account lineup
  • Great user experience
  • Military and senior rates

Cons:

  • Monthly maintenance fees
  • Low APY on savings accounts

 


6. PNC Bank PNC Bank Logo

Best For: ATM Access

PNC was previously limited to the Mid-Atlantic but expanded its reach by acquiring BBVA USA (formerly BBVA Compass) in 2020. The move made PNC one of the largest banks in the US.

Today, there are 61 PNC locations in Arizona, making the Pittsburgh-based bank a solid option for Arizona residents. It also won our award for ATM access, with a network of around 60,000 ATMs nationwide.

PNC’s financial product lineup includes deposit accounts, small business banking, credit cards, investing services, and loans.

Accounts

PNC offers a unique all-in-one account known as the PNC Virtual Wallet, which includes a checking and savings account. Virtual Wallet accounts come in three tiers, all of which earn interest on your savings balance. Virtual Wallet also lets you set your preferred method of overdraft protection with Low Cash Mode.

These accounts tend to have competitive sign-up bonuses for new customers. Check out the current PNC Bank bonuses.

While the ongoing APY isn’t very competitive, the Virtual Wallet with Performance Spend account comes with a competitive 12-month introductory APY on your savings account balance. There’s also a standalone savings account, children’s savings account, CD, and MMA.

Pros:

  • Large ATM network
  • Flexible Low Cash Mode
  • Excellent digital banking experience

Cons:

  • Uncompetitive ongoing APY
  • Steep overdraft protection

 


7. BMO Bank BMO Harris Logo

Best For: Full-Service Banking

Chicago-based BMO Bank has branches and ATM locations in 128 towns and cities across Arizona. It’s the 13th largest bank in the country since acquiring Bank of the West.

BMO Bank is a wise choice if you want to house all of your financial products under one roof. In addition to its robust checking and savings account options, it offers several credit cards, lending products, a Credit Builder program, mortgages, and full investment services.

Accounts

BMO Bank offers three different checking accounts, including the fee-free Smart Advantage Checking account, the Smart Money Checking Account with overdraft protection, and the Relationship Checking account, which earns interest.

When it comes to savings accounts, there’s one traditional account and one money market account, as well as competitive CDs. The fee-free Savings Builder account comes with an interesting perk, rewarding you $5 each month that you save $200 or more during the first year.

Pros:

  • Competitive CD rates
  • Large branch footprint in AZ
  • Numerous financial products

Cons:

  • Low APY on savings accounts
  • Monthly fees on several accounts

 


8. Chase Bank Chase Bank Logo

Best: National Bank in AZ

JPMorgan Chase is one of the largest banks in the US. It’s based out of New York City but has more than 4,700 branches and 15,000+ ATMs in 48 states, giving you easy access to the bank whether you’re at home or traveling.

You can find all of the product offerings you’d expect from a big bank with Chase. Whether you’re looking for a personal or business account, loans, or wealth management, you’re covered.

It also has one of the best mobile banking experiences of any big bank. The Chase app is regularly recognized as one of the best in the business and gives you full access on the go.

Accounts

Chase offers a signup bonus when you sign up for Chase Total Checking, its most popular checking account, and enroll in direct deposit. This is business as usual for Chase, which regularly offers some of the best promotions for new customers.

The account also offers free credit reports, online bill pay, mobile deposits, and Zelle transfers. There are premium checking accounts with more rewarding features as well.

Additionally, Chase offers Basic and Premier Savings Accounts, with waivable monthly fees and a small amount of interest, as well as CDs.

However, there is a downside— Chase charges numerous account fees, which can be tricky to get around. Make sure you understand how those work before signing up.

Pros:

  • Excellent credit card offers
  • Excellent customer experience
  • Rewarding sign-up bonsues

Cons:

  • Steep overdraft feees
  • No out-of-network ATM reimbursements

 

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Chase Bank LogoChase Chase Total Checking® $300 July 24, 2024
  • Direct Deposit
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9. MidFirst Bank MidFirst Bank Logo

Best: Hybrid Bank

MidFirst Bank is a privately owned, FDIC-insured financial institution based in Oklahoma City. The bank has more than 20 locations throughout the Valley.

With MidFirst, you can get the personal touch of a community bank without compromising on account options. It also operates as a bit of a hybrid bank, with both traditional and online accounts available.

Accounts

You can choose from several checking accounts ranging from the bare bones LifeFree checking account to the M+ Account, which earns interest and comes with perks like 2-day early pay, discounts on checks and safe deposit boxes, and free incoming wires.

There are also three savings accounts, an MMA, and CDs. Overall, the biggest selling point for MidFirst’s accounts is that it has higher APYs than most brick-and-mortar banks in Arizona. While most of the bank’s accounts have monthly fees, they can usually be waived by meeting minimum balance requirements.

Pros:

  • Similar features to online banks
  • Several branches in AZ
  • Solid APY for a brick-and-mortar bank

Cons:

  • High minimum opening deposits
  • Charges monthly fees

 


10. Alliance Bank of Arizona Alliance Bank of Arizona Logo

Best: Business Banking in AZ

Alliance Bank of Arizona is a division of Western Alliance Bancorporation, member-FDIC. It’s based in Phoenix and has a handful of branches in Arizona’s larger cities, including Gilbert, Tucson, Mesa, Chandler, Flagstaff, and Scottsdale.

Alliance Bank of Arizona is known for providing excellent bank accounts. It also offers full-service online and mobile banking, but unfortunately, it falls a bit short in that department.

The mobile app is poorly rated in the App Store and the Google Play Store, so those who value a seamless mobile experience should look elsewhere.

Accounts

Alliance offers a variety of personal deposit accounts, but its main focus is on commercial banking and small business banking.

The bank offers business checking, savings, money market, and CD accounts, making it a great place for entrepreneurs and businesses of all shapes and sizes. It also offers fraud protection, small business loans, expert industry resources for businesses, and business credit cards.

Pros:

  • Wide variety of business products
  • Resources for entrepreneurs
  • Large branch presence throughout AZ

Cons:

  • Limited focus on personal accounts
  • Charges monthly fees

 


How to Choose the Best Bank

At BankBonus.com, 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.

Frequently Asked Questions

How many banks in Arizona are there?

There are around 100 different bank providers with a physical presence in Arizona. Of those, the above-mentioned banks.

Keep in mind that most online banks are available nationally, so there’s no need to limit yourself to a local institution. Online banks typically offer added perks like free checking and savings, overdraft protection, and higher savings rates.

What banks are in Phoenix, AZ?

Phoenix is one of the biggest cities in the US, so you won’t have trouble finding a bank. There are over 75 different banks in Phoenix.

Here is a full list of banks in Phoenix, AZ.

  • Academy Bank
  • Aero Credit Union
  • Alaska USA Credit Union
  • Alhambra Credit Union
  • American Airlines Credit Union
  • Arizona Bank & Trust
  • Arizona Central Credit Union
  • Arizona Credit Union
  • Arizona State Credit Union
  • Bank Of America (BoA)
  • Bank Of England
  • Bank One
  • Bankers Trust Company
  • Banner Credit Union
  • Bashas Associates Credit Union
  • Bell State Bank & Trust
  • BMO Harris Bank
  • BNY Mellon
  • BOK Financial
  • Canyon State Credit Union
  • Chase Bank
  • Comerica Bank
  • Compass Bank
  • Credit Union West Credit Union
  • Deer Valley Credit Union
  • Desert Schools Credit Union
  • Enterprise Bank & Trust
  • Farmers And Merchants Bank Of Western Pennsylvania
  • Farmers Insurance Group Credit Union
  • First Credit Union
  • First Fidelity Bank
  • First International Bank & Trust
  • First National Bank Texas
  • First Western Trust Bank
  • FirstBank
  • Florida West Coast Credit Union
  • Glacier Bank
  • Goldwater Bank
  • Johnson Bank
  • Kansas State Bank Of Manhattan
  • Legacy Credit Union
  • Marisol Credit Union
  • Mayo Employees Credit Union
  • Meadows Bank
  • Metro Phoenix Bank
  • MidFirst Bank
  • Mountain America Credit Union
  • Navy Federal Credit Union
  • New York Community Bank
  • OneWest Bank
  • Pacific Premier Bank
  • Parkway Bank And Trust Company
  • Pinnacle Bank
  • Republic Bank AZ
  • Seacoast Commerce Bank
  • Shamrock Foods Credit Union
  • Sierra Pacific Credit Union
  • Southwest Airlines Credit Union
  • Southwest Health Care Credit Union
  • Sunflower Bank
  • SunWest Credit Union
  • The Northern Trust Company
  • Trustbank
  • TruWest Credit Union
  • U-Haul Credit Union
  • U.S. Bank
  • UMB Bank
  • United Methodist Credit Union
  • Vantage West Credit Union
  • Washington Federal
  • Wells Fargo Bank
  • West Valley National Bank
  • Western Alliance Bank
  • Wilmington Trust
  • Zions First National Bank

What banks are in Tucson, Arizona?

Tucson isn’t quite on the same level as Phoenix, but it’s still a major city. You can expect to find all of the same national and local options that you would in the Phoenix area.

Here is a full list of banks in Tucson:

  • Academy Bank
  • APC Employees Credit Union
  • Arizona Central Credit Union
  • Arizona State Credit Union
  • Bank Of America (BoA)
  • Bank Of The West
  • BMO Harris Bank
  • Canyon Community Bank
  • Commerce Bank Of Arizona
  • Compass Bank
  • First Credit Union
  • First National Bank Texas
  • First-Citizens Bank & Trust Company
  • Glacier Bank
  • Great Western Bank
  • Hughes Credit Union
  • Chase Bank
  • OneWest Bank
  • Pacific Premier Bank
  • Pima Credit Union
  • Pyramid Credit Union
  • SunWest Credit Union
  • The Northern Trust Company
  • Tucson Credit Union
  • Tucson Old Pueblo Credit Union
  • S. Bank
  • Vantage West Credit Union
  • Washington Federal
  • Wells Fargo Bank
  • Western Alliance Bank
  • Zions First National Bank

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 Arizona.

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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