Best Banks in Iowa

Not all banks are created equal, and Iowa has many to consider. Before choosing the bank that’s right for you, think through what is most important to you.

I’ve listed the 10 best banks in Iowa and their features to help narrow down your choices and help you get started quickly.

10 Best Banks in Iowa

Comparing banks in Iowa requires you to compare fees, products, hours, and services. No two banks are the same, so comparing them can help you determine which is right for you.

  1. US Bank
  2. MidWestOne Bank
  3. Bank of America
  4. Northwest Bank
  5. Wells Fargo
  6. Bank Iowa
  7. Bankers Trust
  8. Fidelity Bank & Trust
  9. West Bank
  10. Midwest Heritage Bank

1. U.S. Bank

U.S. Bank is a regional bank that’s prominent in Iowa. They started in 1863 and have remained financially strong since then. They’ve pushed through many financial crises, including the most recent pandemic, and they’ve continually changed with the times to offer digital products and services to meet consumers where they are today.

U.S. Bank covers all the financial bases a consumer could need, including:

  • Checking
  • Savings
  • CDs
  • Investing and retirement
  • Credit cards
  • Personal loans
  • Home loans
  • Vehicle loans
  • Business Banking
  • Wealth management

U.S. Bank is transparent about its fees and helps consumers find ways to waive them to keep more money in their accounts. In addition, they make transferring money simple and offer many ways to pay bills and manage money online.

U.S. Bank Logo

up to $800

U.S. Bank : Smartly® Checking
Open online

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U.S. Bank Logo

up to $800

U.S. Bank : Business Checking
Available nationwide

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2. MidWestOne Bank

MidWestOne Bank was voted the ‘Best Small Bank in Iowa’ for 2023 for its superior customer support. They’ve been in business for 80 years and invest in their customers and community.

MidWestOne started as a small Iowa bank, but they’ve quickly grown to 56 locations throughout the Midwest. Today, they offer a wide range of banking products, including:

  • Checking
  • Savings
  • Personal loans and lines of credit
  • Home equity loans
  • Purchase and refinance mortgages
  • Private banking services

They offer a wide selection of deposit products with selections that meet every customer’s needs, from kids through seniors, and even though they are a small bank, they offer online and mobile banking services to make it convenient for customers.

3. Bank of America

Bank of America is one of the country’s largest banks, and they have eight locations in Iowa. Like most nationwide banks, Bank of America offers a large selection of products, including:

  • Checking
  • Savings
  • CDs
  • Car loans
  • Personal loans
  • Mortgage loans
  • Home equity loans
  • Prepaid cards
  • Student loans

Bank of America customers can bank at any branch in or out of Iowa and handle most of their banking needs online. Bank of America has 16,000 ATMs and 3,900 bank branches throughout the country.

Bank of America offers many promotions for their products, including credit cards, and many ways to waive monthly maintenance fees on their deposit accounts.

4. Northwest Bank

Northwest Bank believes in helping customers face-to-face and not with only technology. They pride themselves on their goal to listen to customers’ needs to help every customer reach their desired goals.

At Northwest Bank, they combine the benefits of technology (online and mobile banking) with in-person service to give customers everything they need.

Some of the products Northwest Bank offers include:

  • Checking
  • Savings
  • CDs
  • Home lending
  • Auto loans
  • Credit cards
  • Personal loans
  • Private banking
  • Business banking

Customers can open a checking account with as little as $25, and the minimum balance requirements to waive monthly maintenance fees are manageable.

5. Wells Fargo

Wells Fargo is one of the most popular banks in the country. As you would expect from a bank with 4,700 branches throughout the country, Wells Fargo offers a wide range of products and robust educational tools to make the most of your personal financial goals.

Some of the most popular products Wells Fargo offers include:

  • Checking
  • Savings
  • CDs
  • Credit cards
  • Home loans
  • Personal loans
  • Auto loans

Their personal deposit accounts have monthly maintenance fees, but they make it transparent on how to waive the fees, and most accounts require only $25 to open them.

Wells Fargo offers promotions often, enabling new customers to earn cash bonuses for opening a new account or credit card.

6. Bank Iowa

Bank Iowa is one of the largest family-owned banks in Iowa. They began in 1901. Since then, they have continued to have their customers at the forefront of their philosophies from start to finish.

Bank Iowa offers many banking products for a community bank, including a checking account with no fees. The Freebird Checking account is their latest product and requires only a $10 opening deposit, no monthly minimum balance, and no monthly fees.

Other products Bank Iowa offers include the following:

  • Checking
  • Savings
  • CDs
  • HSA
  • IRA
  • Money Market
  • Home equity loans
  • Student loans
  • Credit cards
  • Consumer loans

7. Bankers Trust

Bankers Trust is a privately owned bank in Iowa. They’ve been serving Cedar Rapids, Iowa, for 20 years, serving the banking and wealth management services for the people of Iowa. They help customers reach their financial goals and are fully vested in the community, doing their part to help.

At Bankers Trust, they make banking simple by offering personal, business, and wealth management services. Some of the most popular products they offer include:

  • Checking
  • Savings
  • CDs
  • IRA
  • HSA
  • Lines of credit
  • Mortgage loans
  • Private banking
  • Financial planning

8. Fidelity Bank & Trust

Fidelity Bank & Trust has been Iowa’s hometown bank for over 100 years. They have branches in over 30 communities and offer big bank services with a small-town bank feel. So you get personal service without sacrificing the products you’d find at your bigger banks.

At Fidelity Bank & Trust, you’ll get online and mobile banking, just like the larger banks, and find the following services:

  • Checking
  • Savings
  • Personal loans
  • CDs
  • IRA
  • HSA
  • Credit cards
  • Wealth management

9. West Bank

West Bank was founded in 1893 and provides full-service banking and trust services. They have six branches in Iowa, and each branch is heavily involved in the community.

When you visit a West Bank branch, you can expect to be greeted personally, not as a number. The bankers get to know each customer by name and can recommend products and services to help them reach their financial goals.

At West Bank, you can enjoy the following banking services:

  • Checking
  • Savings
  • Personal loans
  • Mortgage loans
  • Home equity line of credit
  • Credit cards
  • Business banking services

10. Midwest Heritage Bank

Midwest Heritage Bank is part of the Hy-Vee family, which began in 1930 and today has over 275 stores. Midwest Heritage Bank offers the same high level of customer service combined with many banking products to solve your financial needs.

Regardless of your life stage, Midwest Heritage Bank has products and services to meet you where you need to be.

Some of the banking products they offer include the following:

  • Personal banking (checking, savings, mortgage, and auto loans)
  • Personal investment services
  • Personal insurance (auto, home, pet, umbrella, etc.)

Choosing the Best Bank In Iowa

Choosing the best bank in Iowa is a big decision. You need a bank that offers the services you require at the fees you’re willing to pay. Here’s what to consider when choosing the right bank.

Fees

Banks charge fees; it’s how they stay in business. Fortunately, many banks offer ways to waive the fees, which usually means keeping a specific balance in your account. Some banks may waive fees if you have direct deposit set up and use it.

If you can’t get around the fees, compare them and ensure you choose the account with the lowest fees that don’t interfere too much with your financial goals.

Account Types

Each bank offers different account types. For example, most banks don’t offer one checking account; instead, they offer several. Read the description of each account and the requirements to determine which is best.

For example, some checking accounts are for certain demographics, such as teens or seniors. Others are for anyone but may require a certain balance to earn interest or waive the monthly maintenance fee.

Banking Services

Banking services today are changing. Make sure you find a bank that offers what you need. For example, some banks are going teller-less, leaving you to handle your transactions electronically.

Some banks offer bare minimum services, and others offer many services, including wealth management or retirement planning.

Customer Support

If customer support is important to you, pay attention to how you can access support and if it will cost anything. Some banks charge teller fees, but not all do. Read the fine print carefully to determine what support you can get and when.

Cards

Many bank accounts come with a debit card. Be sure the cards are something you’ll use, especially if there are fees, and that you understand the limits. Some cards are strictly debit cards allowing you to access funds from an ATM, and others are Visa debit cards that you can use anywhere they accept Visa.

Minimum Balances and Deposits

Most banks have a minimum opening deposit and balance requirements. Read the requirements carefully to ensure you meet them, especially if the bank charges monthly maintenance fees. If you can waive the fees, choosing the account with the requirements you can meet makes sense.

ATM Access

ATM fees can quickly add up if you aren’t careful. Research the number and location of a bank’s ATM network to ensure it’s convenient for you to access your cash.

Annual Percentage Rates (APR)

If you open a credit card or borrow a loan from a bank, pay close attention to the APR (annual percentage rate). This is the fee you’ll pay for borrowing the money; the lower the rate, the better.

Annual Percentage Yield (APY)

You’ll earn APYs on deposit accounts, like savings and sometimes checking. Compare the APY and determine if you need to keep a specific balance to earn the higher APYs if a bank has tiered interest rates.

Frequently Asked Questions

Finding the best banks in Iowa is important, and it starts with understanding your financial needs.

What Banks Are in Iowa City?

There are many banks in Iowa City, but some of the most common include U.S. Bank, MidWestOne Bank, Wells Fargo, and Hills Bank.

Which Bank Is the Best to Bank With in Iowa?

The best bank in Iowa is the one that offers the services you need. For example, some people need bank accounts for a specific demographic, and not all banks offer this. Other people need banks with a large ATM network. Consider what’s important to you and find the bank in Iowa that offers it.

Which Bank Is Most Trustworthy in Iowa?

All banks in Iowa are trustworthy as long as they are FDIC insured and have been in business for many years. If you want to see a bank’s reviews, check the Better Business Bureau or read its online reviews to see what others think of it.

Which Bank Is the Most Popular in Iowa?

Bank of America is the most popular bank in Iowa. It’s a nationwide bank with many ATMs and branches, making it easy for anyone to access their funds. Despite being such a large bank, Bank of America offers personalized service and many products to help customers with their needs.

How Many Banks Are There in Iowa?

In total, there are 300+ banks in Iowa.

Which Iowa Bank Is Best For You?

Finding the best banks in Iowa takes some thought. First, look at a bank’s services and compare them to your current and future needs. Next, consider any promotions a bank offers and pay close attention to the fees and accessibility of your funds to choose the right bank.

Don’t worry, though. If your preferences change and you must switch banks in the future, you can return to this list to find one that better suits your money management needs.

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