Best Banks in Missouri

Missouri has some of the best banks in the country. With many community banks and some of the best national banks available, Missouri has many options.

So, whether you’re looking for a new checking account, a savings account with a high APY, or other banking services, you’ll find a bank that offers everything you need.

Many banks are in the biggest cities of Missouri, like Kansas City, St Louis, Jefferson City, and Springfield. However, if you don’t live near a branch — plenty of banks offer mobile banking services with a user-friendly mobile app.

11 Best Banks in Missouri

Here’s a brief overview of the best banks in Missouri.

See the Best Bank Bonus Offers & Promotions in Missouri

1. Regions Bank regions bank logo

Regions Bank is a regional bank with a full spectrum of banking services in the Southeast. According to the Federal Reserve Board, Regions Bank has 61 branches in Missouri.

It offers a variety of bank accounts and has a large branch network (1,300 branches and over 1,900 ATMs in the Midwest and South).

The bank’s basic savings account has a $5 monthly fee (which you can waive if you meet the minimum balance requirements).

However, the bank’s interest rates could be higher on the basic savings and CD accounts — they start from 0.01% APY.

The bank also offers 24/7 customer support and online banking.

Pros:
  • 24/7 customer support
  • Wide range of CD terms
  • Maintenance fees can be waived
Cons:
  • APY rates could be higher

 

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2. Capital One capital one bank logo

Capital One is an option if you prefer banking with a national bank. Capital One is one of the biggest financial institutions in the U.S., offering a wide range of banking services.

Like most reliable financial institutions, it is FDIC-insured to protect customers against losing their money.

You can open a free checking account online in minutes, which doesn’t have a minimum balance or fees.

The savings accounts also come without fees or minimum balance requirements, which makes things much easier. The 360 Performance Savings account has a high 3.30% APY (annual percentage yield) — and the CD (certificate of deposit) rates are even better, with a 4.15% APY for a 12-month term.

There are also 70,000 fee-free ATMs. However, Capital One has no physical bank locations in Missouri — just partner ATMs. If you don’t mind doing your banking online or using a mobile app — that’s fine.

But if you prefer to bank in person, you should keep reading.

Pros:
  • Great APY rates
  • No fees or minimum balance requirements
  • Highly-rated mobile app
Cons:
  • No bank branches in Missouri

 

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3. Mid-Missouri Bank

Mid-Missouri Bank is a community bank headquartered in Springfield. It offers personal and business banking services and gets great customer reviews.

The bank has 12 locations in Missouri and a top-rated mobile app for iPhone and Android devices.

The bank’s checking account (Free Kasasa Cash® Checking) offers a high interest (3.00% APY) on balances up to $10,000, as long as you meet the qualifying criteria.

The criteria may vary, but at the moment, it’s making at least 12 credit card purchases or at least 1 ACH credit or ACH payment transaction each month. And even if you don’t meet the criteria, you’ll still get 0.05% APY (which is fairly low but better than some competitors’).

You’ll also get your ATM fees refunded nationwide — a big deal. The account has no maintenance fees and can be opened in minutes online.

Pros:
  • Competitive interest rates
  • Easy to open accounts
  • Low or no fees
  • Low minimum deposits
  • Great customer reviews
Cons:
  • Only 12 branches

4. Belgrade State Bank

Belgrade State Bank has been around for over 100 years and is headquartered in Belgrade, Missouri. The bank has six branches in Missouri, so it might not be the best option if you’re looking for in-person banking — unless you live close to one of the six branches. However, you can easily access your accounts through online banking.

Belgrade State Bank offers personal checking and savings accounts, loans, debit cards, and overdraft protection. The bank offers a Premium Checking Account that’ll earn you 0.05% APY on balances up to $2,499.99 and 0.20% APY on $2,500 and over. However, the minimum balance requirement is $1,000.

Small business owners will find business accounts, loans, and other business banking services. Belgrade State Bank’s Business Checking account offers 0.05% APY and has a minimum deposit of $50.

Belgrade State Bank also has a useful online portal with educational resources for kids, helping them learn more about money management.

While the APY on checking and savings accounts is fairly low, the bank offers great certificates of deposit rates. The 9-month CD could earn you 4.17% APY.

Pros:
  • Competitive certificate of deposit rates
  • Financial education tools
Cons:
  • Low APY on checking and savings accounts

5. U.S. Bank

U.S. Bank is a well-known national bank in 26 states, including Missouri. U.S. Bank has over 2,000 branches, with 10 in Missouri, according to the branch locator on the bank’s website.

U.S. Bank offers a wide range of financial services — including personal accounts, money market, small businesses banking, and wealth management services.

You can also apply for personal, home, mortgage, and auto loans. U.S. Bank is an excellent lender to choose from if you’re looking for a reputable bank with nationwide lending capabilities.

The bank offers a wide range of bank accounts and a highly-rated mobile app, so you can easily manage your money anywhere. The app offers bill pay facilities, and you can easily download your e-statements.

You can also get a U.S. Bank Visa debit card to make payments on the go and easily access your checking account funds.

U.S. Bank offers a range of CDs (certificates of deposit) — from standard to CD Special and Step Up CDs. The Special CDs earn much higher rates (e.g., 4.00% APY for 17 months). However, the bank’s standard CDs have a fairly low rate, starting from 0.25% APY.

Pros:
  • Special CDs earn high rates
  • User-friendly website offering financial education
  • Highly-rated mobile app
Cons:
  • Low rates on standard CDs

 

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6. Bank of Missouri

If you’re looking for a smaller local bank, then Bank of Missouri might be a good option. The bank has 29 locations across the state and offers personal and business banking.

The bank’s website has plenty of helpful digital resources on buying a home, starting a business, saving, and learning to budget. Bank of Missouri also has a handy app that gets good reviews from customers.

Bank of Missouri’s Kasasa Cash is a free checking account that offers rewards and a high APY. You’ll earn 3.05% APY if you meet the qualifying criteria — or 0.05% APY if you don’t. You’ll also get your ATM fees refunded for withdrawals nationwide, up to $25 per monthly cycle.

Pros:
  • Competitive APY rates
  • Wide range of banking products and services
  • Low fees
Cons:
  • No 24/7 customer service or live chat

7. First Midwest Bank

First Midwest Bank is a local community bank and regional lender that offers a range of banking services — from checking accounts to personal loans.

The bank’s loans are an excellent option for qualifying borrowers looking for low APRs and extended repayment terms.

As of February 2022, First Midwest Bank is a division of Old National Bank.

First Midwest Bank has 6 locations in Missouri — but it offers online banking and has a mobile app for easy banking on the go.

The bank’s checking accounts have a $50 minimum opening balance and come with a debit card, online banking, bill pay, and e-statements. Some checking accounts have a monthly fee, but free checking account options exist.

Pros:
  • Low fees
  • Good personal loan options
Cons:
  • Only 6 branches in Missouri

8. Commerce Bank

Commerce Bank is an FDIC-insured bank offering banking services to cater to all stages of life. It takes a tailored approach to customer service and receives great reviews.

Commerce Bank has over 80 bank branches in Missouri (at least 26 in St. Louis!), making it a great option if you prefer in-person banking.

You’ll find both personal and business banking at Commerce Bank.

Commerce Bank offers checking accounts, including free and interest-bearing accounts. You can open the Free Checking account in moments online, and it comes with mobile banking, text alerts, and even a $50 Visa Reward card when you refer a friend. You also get free Commerce ATM transactions and overdraft protection.

When it comes to savings accounts, the APY could be higher. Commerce Bank’s myRewards Savings account offers an APY of 0.10%, which isn’t as good as some competitors.

Pros:
  • Has a free checking account
  • Monthly fees easy to avoid
Cons:
  • Low APY on savings accounts and CDs

9. Bank of America

Bank of America is a large national bank operating in 50 states of the U.S.

Bank of America has branches and ATM locations in 35+ cities in Missouri and offers a great branch and online experience. In total, Bank of America has over 4,000 branches and 16,000 ATMs.

You can open a checking account in a few steps online. The bank has three main checking accounts: SafeBalance, Advantage Plus, and Advantage Relationship.

The SafeBalance account is a checkless account with a monthly fee of $4.95 that the bank will waive if you need the criteria (are under 18 or a student). The account has no overdraft fees, helping you avoid unpleasant surprises.

When it comes to interest rates, the bank doesn’t offer as much as some of its competitors.

Pros:
  • Wide ATM and branch network
  • A good range of products
  • Monthly fees easy to waive
Cons:
  • APY rates could be better on savings accounts

10. Central Bank of the Ozarks

Central Bank of the Ozarks could be a great option if you’re looking for a community bank that offers personalized customer service and builds long-term relationships with clients.

This small bank serves the entire lake area, so if you live nearby and prefer to bank in person, you’re in luck.

The bank offers personal, business, and corporate banking services. Small businesses can open bank accounts, get loans and credit cards, invest with the bank, and more.

The main checking account, MaxMoney® Checking, offers everything a checking account needs plus perks like access to your credit score, gift cards, savings on gas, credit file monitoring, shopping rewards, and insurance. However, this does come at a fee of $8.95.

The classic savings account will earn you 0.10% APY, which is a little low. Other savings accounts by Central Bank can earn up to 0.55% APY, which is a bit better but still not as good as some other accounts.

Pros:
  • The mobile app has an excellent rating
  • Personalized customer service
  • Great perks with checking accounts
Cons:
  • Limited availability (only the lake area)
  • Low APY on savings accounts and CDs

11. UMB Bank

UMB bank has been around in the Midwest since 1913. The bank offers personal and business banking, with various checking, savings, and CD account options.

You can also get loans and even open a health savings account, helping you manage healthcare costs. The bank has a Visa credit card (UMB Simply Rewards) that rewards you for everyday purchases and doesn’t have an annual fee.

There’s also a helpful financial education section on the website for those wanting to learn more about managing their money.

UMB Bank’s interest-bearing saving account has a minimum deposit of $100 and a monthly fee of $3. The APY is quite low — 0.02%. The bank’s money market accounts offer a higher APY — up to 0.10%, but it still isn’t competitive.

Pros:
  • Good rewards on credit cards
  • Special CD rates
  • Low account opening deposits
Cons:
  • Low interest rates
  • Monthly fees

Frequently Asked Questions

What is the most popular bank in Missouri?

While there is a lack of up-to-date information online, U.S. Bank and Bank of America were last reported to be the most popular by assets.

What is the best bank for small businesses in Missouri?

Many banks in Missouri offer small business banking, but the ones that stand out the most are Bank of America, U.S. Bank, and the Bank of Missouri.

Which bank has the best CD rates in Missouri?

Check out Capital One, U.S. Bank, and Belgrade State Bank for the best CD rates.

Which bank has the best high-yield savings account in Missouri?

For the best high-yield savings account in Missouri, look into Capital One. Capital One’s 360 Performance Savings Account has an APY of 3.30%, which is excellent.

Mid-Missouri Bank’s Free Kasasa Saver is another great savings account option. It has no monthly fees and 1.00% APY.