Best Banks in Nevada

If you’re looking for a new bank account or a lender for a loan in Nevada, you’ve come to the right place. Below, we’ll cover the best banks in Nevada, in addition to a few high-quality credit unions.

Whether you’re looking for personal or business banking services, this complete overview will help you make the right choice, whatever your requirements.

10 Best Banks in Nevada for 2023

1. Chase Bank chase bank logo

Chase Bank is the largest bank in the US. In Nevada, Chase has over 60 locations, most of which are located in Las Vegas, followed by Reno.

Chase offers a selection of everyday and premium checking accounts, with monthly fees starting from $4.95. While most monthly fees can be waived, this is not the case for all accounts, so choose carefully. Features vary by account and include early paycheck deposit, interest on your balance, Chase Overdraft Assist, and many others.

The bank also offers two savings accounts – Chase Savings and Chase Premier Savings. Monthly fees start from $5, which can be waived regardless of your chosen account. The APY interest rate starts at 0.01% and maxes out at 0.02%.

Chase also offers various credit cards, CDs, loans, home equity, investment options, and business banking.

  • Pros: Welcome offers, good selection of accounts

 

  • Cons: Low APY rates, no free accounts

2. Bank of America bank of america logo

Bank of America is the second largest bank in the U.S. after Chase Bank. This national bank has a global presence and maintains physical locations in Nevada. Its headquarters are located in North Carolina.

Bank of America offers three checking accounts. Monthly fees start from $4.95, all of which can be waived. The minimum opening deposit ranges between $25 and $100, while overdraft facilities depend on your account. The highest-tier account, Advantage Relationship, earns interest with an APY between 0.01% and 0.02%.

There is one savings account available called Advantage Savings. It has a monthly fee of $8, which can be waived in multiple ways. The minimum opening deposit is $100, while the standard APY is 0.01%. You can earn a higher interest rate by enrolling in the Preferred Rewards program; however, the maximum you’ll make is 0.04% when achieving the highest tier.

Bank of America offers CDs, IRAs, debit cards, credit cards, home loans, auto loans, business banking, and investment options through Merrill.

  • Pros: Good selection of products and services, has a physical presence in Nevada

 

  • Cons: Low APY rate, no free accounts

3. U.S. Bank us bank logo

U.S. Bank is a member of the Fortune 500. With just four locations in Nevada, it does not have a large presence; however, MoneyPass ATMs are part of its network. It’s also one of the largest banks in the US, giving you more widespread access nationwide.

U.S. Bank offers two checking accounts – Smartly Checking and Safe Debit. Safe Debit has no checks or overdraft fees, with a monthly fee of $4.95 that cannot be waived. Smartly Checking, on the other hand, has a monthly fee of $6.95, which can be waived. The latter account also offers an APY of 0.01%, among other perks and features.

U.S. Bank has one traditional savings account called Standard Savings Account. It has a minimum opening deposit requirement of $25 and a monthly maintenance fee of $4, which can be waived. The APY is 0.01% across all balances and tiers.

U.S. Bank also offers Money Market Accounts, CDs, credit cards, investment and retirement options, loans and lines of credit, and business banking

  • Pros: Low monthly maintenance fees, checking account earns interest

 

  • Cons: Low APY rates, sparse physical presence in Nevada

4. CIT Bank cit bank logo

CIT is a division of First Citizens Bank, making it to the list of the top 20 big banks in the US. First Citizens Bank is a family-controlled bank and the largest of its type.

CIT Bank offers one checking account – eChecking. It has no monthly fees and no overdraft fees either. The minimum opening deposit for this account is $100, and you can get as much as $30 in ATM reimbursements per month. This account is interest-bearing and pays an APY of 0.10% on balances under $25,000, which goes up to 0.25% on higher balances.

The bank also offers two traditional savings accounts: Savings Connect and Savings Builder. Both accounts have a minimum opening deposit requirement of $100 and no maintenance fees. APY rates vary by account and range between 1.00% and 3.25%.

CIT also offers CDs, MMAs, home loans, and business banking.

  • Pros: High APY rates, no monthly maintenance fees

 

  • Cons: limited account selection, no credit cards

5. Citibank citibank logo

Citibank is the banking subsidiary of Citigroup, the third-largest financial institution in the US. They are part of the S&P 100 with worldwide operations – and one of the first banks to introduce ATMs in the U.S.

Citi offers three ‘everyday’ and three premium checking accounts with monthly fees starting from $10. In most cases, the bank offers two different ways to waive the monthly fee: making an enhanced deposit and a qualifying bill payment. Features vary by account and may include unlimited check writing and free ATM withdrawals from non-Citi ATMs.

Citi also offers several ‘everyday’ and premium checking accounts. Monthly service fees start from $0 – however, the free accounts have high qualification requirements. The Access Account Package is one of their most popular. It has an APY of 0.05%, no minimum opening deposit requirement, and features such as Auto Save and overdraft protection.

Citi offers CDs, IRAs, credit cards, loans, investments, and wealth management.

  • Pros: No minimum opening deposit, a large selection of accounts

 

  • Cons: Free accounts have high qualification criteria, APY is only slightly higher than average

6. Wells Fargo wells fargo logo

Wells Fargo is another member of the Big Four, with a presence in most states. Nevada has some 95 branches and 313 ATMs, making it a good choice for those who prefer face-to-face banking.

Wells Fargo offers four checking accounts with monthly fees ranging between $5.00 and $35.00. Most accounts come with fee-waiving criteria except Clear Access Banking. The only way to avoid this fee is if you’re between 13 and 24 years old. The minimum deposit requirement is set at $25 across all accounts, while Prime Checking and Premier Checking are the only accounts that earn interest.

The bank also offers two savings accounts – Way2Save and Platinum Savings. Way2Save has a monthly fee of $5.00, which you can avoid by meeting the account’s criteria, while APY is 0.15%. On the other hand, Platinum Savings has a monthly fee of $12.00 and an APY that goes up to 1.02%. The bank will also waive this account’s monthly fee when maintaining a balance of at least $3,500.

Wells Fargo offers CDs, credit cards, home loans, auto and personal loans, and business banking.

  • Pros: Good selection of accounts, good physical reach

 

  • Cons: High APY rate requires a premier account, no free accounts

7. Valley Bank of Nevada

Valley Bank of Nevada is a relatively new small bank established in 2005. It has three Nevada branches and is chartered and headquartered in North Las Vegas.

Valley Bank of Nevada offers two checking accounts – Personal Checking and Personal Interest Checking. Both have the same features, except for monthly interest, which is exclusive to Personal Interest Checking. Personal Checking has a minimum opening deposit requirement of $100 which increases to $1000 for the interest-bearing checking account.

Valley Bank of Nevada also offers one traditional savings account called Personal Savings. It has a minimum opening deposit requirement of $100, while interest is paid out to the account monthly.

Valley Bank of Nevada also offers MMAs, CDs, loans, credit cards, and business banking.

  • Pros: Five ATM reimbursements per month, built on traditional banking values

 

  • Cons: Sparse website, limited physical reach

8. Nevada State Bank

Nevada State Bank is a local bank serving Nevada communities. It’s a division of Zions Bancorporation – a financial services company with operations in 11 states.

The corporation operates several brands and is one of the largest SBA (Small Business Administration) Paycheck Protection Programs loans providers.

Nevada State Bank offers three checking accounts with monthly fees ranging between $5.00 and $15.00. All but one account can have their maintenance fee waived, and the minimum opening deposit ranges between $25.00 and $50.00. Features and perks vary from one account to another, including wire transfer fee reimbursement and Bill Pay.

Nevada State Bank offers one savings account titled Personal Savings. It has a monthly fee of $5.00, which the bank will waive when you meet any of the three available requirements. There is a deposit requirement of $50.00 to open the account, while the APY is 0.01%.

Nevada State Bank also offers CDs, MMAs, credit cards, loans, and business banking.

  • Pros: Offers military benefits, invests in the community

 

  • Cons: No free accounts, a low APY rate

9. First Foundation Bank

First Foundation Bank is a relatively new bank, opening its doors in 1990. It has a presence in several states, including Nevada, where it operates one branch and one office.

First Foundation Bank offers two checking accounts – Personal Checking and Personal Interest Checking, with both accounts requiring an opening deposit of $100. Personal Checking has no monthly fees, while Personal Interest Checking has a monthly fee of $20, which the bank will waive when maintaining a daily balance of $2,500 or more. Account features include Zelle, PFM tools, credit scores, and many others.

First Foundation Bank also offers a savings account called Personal Savings. It has a $3.00 monthly fee, which the bank will waive if you maintain a daily balance of at least $250. You’ll need to deposit $100 or more to open this account, and it has no limitations.

The bank also offers MMAs, CDs, specialized accounts, loans, credit cards, and business banking.

  • Pros: Free checking account, no limitations on savings

 

  • Cons: No APY rates available, only has one branch in Nevada

10. WaFd Bank

WaFd Bank (short for Washington Federal) is a regional bank operating in eight states, including Idaho, Arizona, and Nevada – where it has nine locations. Its headquarters are located in Seattle, and the bank also manages the Washington Federal Foundation. The foundation strives to make a difference by working hand in hand with non-profits within the communities in which they operate.

WaFd Bank offers three checking accounts with monthly maintenance fees ranging between $0 and $8.00. The minimum opening deposit requirement is $25.00 across all accounts, while features vary. All, excluding the free checking account, include WaFD Wins – a rewards program offering discounts and benefits.

WaFd also offers a savings account with an initial deposit requirement of $25.00. There is a monthly fee of $3.00, which only applies when your balance drops below $100. The APY rate is 0.01% which kicks in when your balance exceeds $100.

WaFd Bank also offers specialized savings accounts, MMAs, CDs, mortgages, credit cards, and business banking.

  • Pros: Free checking account, interest-bearing checking account

 

  • Cons: Low APY, limited physical reach

Nevada Credit Unions to Consider

If none of the banks listed above are what you’re looking for, consider a Nevada credit union instead.

Credit unions work just like banks, except that they are not-for-profit institutions. As such, you might get better rates, and service tends to be more personalized.

On the flip side, most credit unions do not have the reach of big banks – something to keep in mind if you travel often.

Here are 3 of the top credit unions in Nevada:

How to Choose the Best Bank for Your Needs

Before choosing a Nevada bank or credit union, consider your unique banking needs and find a financial institution that best meets those needs.

Personal, business, or both?

If you’re thinking of opening a business (or already have one), you might want to consider a bank that’s also strong on the business side. Banks that offer SBA loans can be particularly helpful if you need a business loan.

Selection of products and service

Take the time to understand which products and services you need now and in the future, including credit cards and loans. Keep an eye out for services such as online banking and mobile banking, especially if you would like to avoid a trip to the bank every time you need to make a transfer.

Qualifying criteria

Most accounts come with fees, which you can avoid if you meet the qualifying criteria every month. Waiving the fee can save you quite a bit of money in the long run, so it’s always worth considering.

Credit cards also have stringent qualifying criteria that often include your credit score. Make sure you choose a bank with qualifying criteria that you can meet for the products and services you need.

Interest rates

The bank pays interest on the money you save in the form of APY and requires interest payments on the money you borrow in the form of APR. The higher the APY and the lower the APR, the more money you will be left with. Make sure you use an APR or APY calculator to understand what the figures will translate to in actual terms.

Insurance

Banks that are a member FDIC offer an extra layer of protection should something happen to the bank. Most banks insure depositors up to $250,000. On the other hand, federal credit unions are insured through NCUA, often for the same maximum amount.