Idaho is home to hundreds of banks and credit unions offering various financial services. With so many options, it can be difficult to find the right fit.
Continue reading if you’re an Idaho resident looking for a trustworthy financial institution to meet your banking needs.
Best Banks & Credit Unions in Idaho
- U.S. Bank
- Wells Fargo
- D.L. Evans Bank
- Idaho Central Credit Union
- Bank of Idaho
- Zions Bank
- Washington Trust Bank
- First Federal Savings Bank of Twin Falls
- Bread Savings
1. U.S. Bank
Offers: Checking accounts, debit accounts, savings accounts, CDs (certificates of deposit), MMAs, credit cards, personal loans, credit lines, home loans, vehicle loans, and investment and retirement options.
U.S. Bank is the fifth largest bank in the U.S. It offers two checking accounts, one of which is a debit account with a fixed $4.95 monthly fee. The other account, Smartly Checking, has a monthly fee of $6.95, which can be waived in multiple ways. It comes with free direct deposits and no overdraft or ATM fees at all U.S. Bank and MoneyPass ATMs.
U.S. Bank also has one savings account called Standard Savings. It has a waivable $4 monthly fee and a minimum opening deposit of $25. Idaho customers can expect an APY rate of 0.01% across all balances and tiers.
- Pros: Low monthly fees; low minimum opening deposits; large ATM and branch network
- Cons: Low APY rate; monthly service fees
U.S. Bank’s Smartly Checking Account earns variable interest and comes with a wealth of benefits to help you manage, move, and spend your money wisely.
2. Wells Fargo
Offers: Checking accounts, savings accounts, credit cards, home loans, personal loans, and auto loans.
Wells Fargo is a full-service national bank with a wide range of products and services. Monthly fees on checking accounts start from $5.00, but the bank will waive them if you meet the requirements.
They also have two traditional savings accounts, with monthly fees starting from $5.00. APY rates range from 0.01% to 0.02%, depending on the account and whether you qualify for the relationship rate. The minimum opening deposit for both accounts is $25, while the minimum balance to avoid the maintenance fee varies between $300 and $3,500.
- Pros: Good selection of financial products and services
- Cons: Low APY rate
3. Chase Bank
Offers: Checking accounts, savings accounts, C.D.s, debit cards, credit cards, mortgages, loans, home equity, and investment options
Chase Bank is the largest bank in the U.S. It operates over 20 branches in Idaho from Boise to Meridian and Idaho Falls. New customers opening a checking account can get a welcome bonus of up to $200. There are three everyday checking accounts, with monthly fees starting from $4.95. All accounts get access to Chase Online Banking, Bill Pay, Zelle, and many other perks and features.
Chase also offers a Chase Savings account with a waivable $5 monthly fee and an APY of 0.01%. Benefits include Autosave and access to 16,000 ATMs and over 4,700 branches nationwide.
- Pros: Strong branch network; national bank, large ATM network
- Cons: Low APY rate; banking fees
4. D.L. Evans Bank
Offers: Checking accounts, savings accounts, debit cards, credit cards, and loans
D.L. Evans Bank is a member FDIC community bank headquartered in Burley, Idaho. It serves customers in Idaho and Utah. The bank offers a selection of checking accounts with monthly service charges starting at $0. You can open accounts online or through their branches. However, certain specialized accounts require you to use video banking.
D.L. Evans Bank offers one traditional savings account called Community Savings. It has a monthly fee of $3, which the bank will waive when maintaining an account balance of at least $100. Interest is paid on balances of $100 and over and is compounded quarterly. You’ll also find specialized savings accounts such as UTMA and HSA.
- Pros: A varied selection of deposit accounts
- Cons: Quarterly-compounded interest reduces yield
5. Idaho Central Credit Union
Offers: Checking accounts, savings accounts, MMAs, CDs, IRAs, credit cards, loans
Idaho Central Credit Union is a credit union based in Idaho with membership open to those who live or work in Idaho, Eastern Oregon, or Washington. It offers a free checking account with no monthly fees and free credit score monitoring. Account features include card fraud monitoring, Bill Pay, and many others.
Idaho Central Credit Union also offers many traditional and specialized savings accounts. The minimum balance required to earn interest varies by account and ranges between $0 and $1,000. APY also varies by account and balance but tops out at 2.27%.
- Pros: High APY rate
- Cons: High balance requirement to earn interest
6. Bank of Idaho
Offers: checking accounts, savings accounts, MMAs, CDs, debit cards, credit cards, wealth management, and different types of loans.
Bank of Idaho is a community bank headquartered in Idaho Falls. It operates branches across the state in Boise, Nampa, Pocatello, and even Island Park. The bank offers six checking accounts, including interest-bearing accounts. Monthly service charges start from $0, while the minimum opening deposit varies between $25 and $100.
Bank of Idaho also offers one traditional savings account and several specialized ones. The traditional account is called Everyday Savings and comes with a $3.00 monthly. The bank will waive monthly fees when maintaining an average daily balance of $100. The minimum opening deposit is $100.
- Pros: Free checking accounts; accounts offer APY; low minimum opening deposit
- Cons: Can’t open an account online
7. Zions Bank
Offers: Checking accounts, savings accounts, small business banking services, CDs, IRAs, credit cards, loans, and home loans.
Zions Bank is a national bank headquartered in Salt Lake City, Utah, and is a division of Zions Bancorporation. It offers five checking accounts, with monthly maintenance fees starting from $0. One account, called OnBudget Banking, has a $5.00 monthly fee that the bank won’t waive. The minimum opening deposit is $25.
Zions Bank also offers one savings account with a monthly fee of $3.00, which the bank will waive when meeting the relevant requirements. The minimum opening deposit requirement is $50. The APY ranges between 0.16% and 0.19%, depending on your balance.
- Pros: Low opening deposit requirements; competitive CD rates
- Cons: APY is only slightly higher than rates offered by other banks
8. Washington Trust Bank
Offers: Checking accounts, savings accounts, MMAs, CDs, HSAs, IRAs, credit cards, loans, and home equity lines of credit
Washington Trust Bank is a privately-owned regional bank serving customers in Idaho, Washington, and Oregon. It offers three checking accounts with monthly service charges starting from $3.00.
The bank will waive the monthly charges if you meet the account’s requirements. Perks and features depend on which account you choose and include interest and overdraft courtesy refund.
Washington Trust Bank offers one traditional account called Simpilicty Savings. It has a monthly service charge of $3, which the bank will waive if you maintain a ledger balance of $300 across eligible accounts. The minimum opening deposit is $50, while the APY is 0.05% across all balances.
- Pros: Low monthly charges; wide variety of account choices
- Cons: APY is relatively low; limited access to customer service
Offers: Checking accounts, savings accounts, CDs, home loans, mortgages, loans, lines of credit, debit cards, credit cards, investment options, insurance, and debt consolidation.
KeyBank is a regional bank serving several states, including Idaho. It offers five different checking accounts, with monthly maintenance fees starting from $0. Three of the five checking accounts are interest-bearing and come with features such as Key Coverage Zone and Easy Up automatic savings.
KeyBank’s Active Saver account is their only traditional savings account. It comes with a monthly maintenance fee of $4, which the bank will waive if you have a qualifying checking account. Upon opening, you must make a minimum deposit of $10. The account offers an APY of just 0.01% across all balances
- Pros: Free checking accounts; free overdraft protection
- Cons: Low APY rate; branches located only in 16 states
Offers: Checking accounts, savings accounts, credit cards, mortgages, auto loans, personal loans, investments, and retirement options.
Ally is an online bank with no branches whatsoever. As with many other online-only banks, they tend to offer better deals than what most brick-and-mortar banks offer. Their Interest Checking Account has no monthly fees and earns an APY rate of 0.25%.
You also get a debit card and access to over 43,000 fee-free ATMs through Allpoint. The account doesn’t have a preset opening deposit requirement and comes with mobile check deposit features, among others.
Ally offers its customers an Online Savings account with no monthly fees and minimum deposit requirement. The account’s APY stands at 2.50%, making it one of the highest APYs around. Other features to look forward to when opening this account include Buckets and Surprise Savings.
- Pros: Excellent interest rates; great savings tools and features
- Cons: No physical branches
11. First Federal Savings Bank of Twin Falls
Offers: Checking accounts, savings accounts, Money Market Accounts, C.D.s, credit cards, loans, mortgages, and retirement options
First Federal Savings Bank of Twin Falls is a community bank headquartered in Twin Falls. While small, the bank still packs a punch with four different checking accounts. Three of the four accounts do not charge a monthly fee, while the one that does also pays interest. All accounts come with check-writing facilities and a free debit card, among other perks.
The bank also offers both Plus and Regular savings accounts. The Regular account has a minimum opening deposit requirement of $10, which gets pushed to $1,000 for the Plus account. Both accounts earn interest and include a free ATM card. There is no monthly service charge for either account.
- Pros: Free checking and free savings account
- Cons: Some accounts can only be opened at a branch
12. Bread Savings
Offers: Savings accounts, Certificates of Deposit
Bread Savings is not a bank but a financial product that Comenity Capital Bank offers. Think of it as a next-level Savings Account offering a much higher interest rate than most other financial institutions. Their main High Yield Savings Account comes with an APY of 3.00%. It also has no monthly fees.
The minimum opening deposit requirement is $100, and the maximum balance per account is $1 million. You can get a higher rate by opening a CD with APYs ranging between 4.00% and 4.25%.
- Pros: Excellent interest rates; no monthly service fees
- Cons: Limited product selection; no ATM network
How to choose the best bank in Idaho
Choosing the right financial institution may seem like a daunting task. However, by evaluating what banking features are essential to you and following the below tips, your choice should be more straightforward.
Financial institutions offer varying services, bank accounts, features, and rates. Look at what APY rates each contender provides to identify the highest possible rate available to you. Always look out for high-yield savings accounts or features that will give you cash back to ensure you get the most bang for your buck.
Look into digital features
As nice as it might be to develop a personal relationship with your bank, digital features such as online and mobile banking will always reign supreme in this day and age. Online banking is used daily for things such as direct deposits and online bill payment facilities.
Moreover, having access to review your spending habits in the palm of your hand can help you shift to a more savings-conscious mindset. Make sure you choose a bank or credit union that checks all your boxes regarding online banking and mobile apps.
Consider federal credit unions and online banks
When on the hunt for a new financial institution, traditional brick-and-mortar banks are more often than not the first to come to mind. However, it doesn’t hurt to consider alternatives like online banks and credit unions.
Online banks’ lower overheads from having no physical branches usually translate to lower fees and higher interest rates for their customers. Since federal credit unions are member-owned, not-for-profit organizations, they usually offer better rates and lower fees when compared to traditional banks.
As with most institutions and service providers today, financial institutions are not exempt from being reviewed online. Read through online reviews on customer service and banking products to better understand what to expect from your chosen bank or credit union.
Frequently Asked Questions
What is the most popular bank in Idaho?
There are plenty of big banks in Idaho that can meet virtually anyone’s banking needs. Instead of focusing on the popularity of a financial institution, identifying which bank or credit union can help you meet your financial goals would make more sense.
What is the best bank to use in Idaho?
Choosing the best bank in Idaho depends on your personal or business banking needs. The state is well-served by some of the best banks in the United States. Refer to our list above for a detailed picture of what each bank offers.
What is the largest bank in Idaho?
U.S. Bank is the fifth largest bank in the United States. It operates more than 60 branches in Idaho alone. Wells Fargo and Chase are also large national banks that operate in the state.
Is Bank of Idaho good?
Bank of Idaho is a local community bank. It offers a range of services, including both checking and savings bank accounts, MMAs, CDs, debit and credit cards, and is a personal and business lender.
Is Idaho Central Credit Union a good credit union?
Idaho Central Credit Union is a quality financial institution that offers membership to those who live or work in Idaho, Eastern Oregon, or Washington. It offers a free checking account with no monthly fees and free credit score monitoring. APY is a higher-than-average rate.