Skip to headerSkip to main contentSkip to footer
Get our Free E-newslettersGet our Free E-newsletters
Kiplinger logoLink to homepage
Get our Free E-newslettersGet our Free E-newsletters
Subscribe to Kiplinger
Subscribe to Kiplinger
Save up to 76%
Subscribe
Subscribe to Kiplinger
  • Store
  • Home
  • Investing
  • Retirement
  • Taxes
  • Personal Finance
  • Your Business
  • Wealth Creation
  • More
    • Podcasts
    • Economic Outlooks
    • Tools
  • My Kiplinger
    • Kiplinger's Personal Finance Magazine
    • The Kiplinger Letter
    • The Kiplinger Tax Letter
    • Kiplinger's Investing for Income
    • Kiplinger's Retirement Report
    • Store
    • Manage My E-Newsletters
    • My Subscriptions
  • Home
  • personal finance
  • banking
  • savings
savings

Best National Banks, 2018

Large banks have the resources to serve up a variety of deposit accounts and loans, as well as financial planning, investing and wealth-management services.

by: Lisa Gerstner
July 6, 2018
A mature couple receives an application at a bank.

Getty Images

Large banks have the resources to serve up a variety of deposit accounts and loans, as well as financial planning, investing and wealth-management services. They also tend to have robust digital and mobile tools.

For example, many big banks--including our winner and runner-up--offer Zelle, a peer-to-peer payment service that allows users to send money to customers of other participating banks in minutes.

Here's a look at our top picks for national banks.

  • The Best Bank for You, 2018
All rates as of June 22, 2018.

1 of 3

BEST: TD Bank

Although its roots are in Canada, TD Bank has built a strong presence in the U.S., with more than 1,200 branches in 15 East Coast states and the District of Columbia. And if you frequently visit a branch, you may appreciate the small touches TD adds to the experience: free pens and lollipops for you (plus other goodies on occasion) and free biscuits for your dog. Plus, TD branches are generally open until 6 or 7 p.m. on weekdays, and many branches are open on Saturdays, Sundays and a few federal holidays, too. TD has revamped its website, with a streamlined design no matter what kind of device you use and easy-to-access shortcuts to tools to make transfers, pay bills and use other services.

Regardless of how much money you keep in the bank, you'll likely find a checking account that suits you. Convenience Checking requires a minimum daily balance of only $100 to waive the $15 monthly fee. If you maintain a higher balance ($2,500 for Premier Checking or $20,000 in a combination of deposits and loans for Relationship Checking), you get more perks, such as waived fees for out-of-network ATM transactions and free checks and money orders. Students have access to a free checking account paired with a free savings account. For customers who are 60 or older, TD offers an account that waives the $10 monthly fee if you keep a $250 minimum balance and comes with free standard checks, cashier's checks, money orders and paper statements.

Savers have a variety of options, including a basic savings account with a $300 minimum to avoid a $5 monthly fee (0.05% interest). The Preferred Savings account ($20,000 minimum to waive a $15 monthly fee) offers up to 1.2% to 1.5% interest, depending on the balance and your region, if you have an eligible linked account, such as an active personal or small-business checking account, a mortgage or a credit card. Interest rates on standard certificates of deposit (minimum $250 deposit) are paltry, but recently you could earn 2% with a $10,000 deposit on the Choice Promotional one-year CD if you have an eligible checking account.

If you have at least $500,000 in investable assets, you're eligible to use the services of TD Wealth Private Client Group, whose advisers can assist with wealth and retirement planning, investment management, philanthropic planning and other financial needs.

 

  • Time-Tested Tactics to Build Your Wealth

2 of 3

RUNNER-UP: U.S. Bank

U.S. Bank has grown into one of the country's largest banks, with more than 3,000 branches in 25 states, mostly in the Midwest and West. And U.S. Bank is no slouch on the digital side of the business. It recently won accolades from research and consulting firm Corporate Insight for excellence in person-to-person payments and online bill paying. For four years in a row, the Ethisphere Institute has named U.S. Bank one of the world's most ethical companies.

You can choose from an array of checking accounts, including the Silver package, which comes with a free money market deposit account and requires $1,000 in monthly direct deposits or a $1,500 minimum balance in your checking and money market account to waive the $6.95 monthly fee. If you're willing to widen your relationship with the bank, check out the Gold checking package, which waives the $14.95 monthly fee if you have a mortgage, home-equity loan or line of credit, credit card, or personal loan with U.S. Bank. You also get a free money market savings account and free overdraft transfers from a linked deposit account. The Premium and Platinum packages come with higher minimums and more perks. Plus, the bank offers free accounts for students and seniors and offers any checking account with no monthly fee to current and former members of the military.

Besides the free money market accounts tied to the Silver, Gold and Platinum packages, customers can also choose among standard savings and money market accounts, as well as CDs with minimum deposits starting at $500 (but rates on standard CDs are low).

 

  • 13 Ways to Simplify Your Finances

3 of 3

The Best Banks and Credit Unions for You, 2018

Woman filling form at bank counter.

Getty Images

.kip-slideshow ul.kip-list-nobullet li {font-size: 14px;margin-bottom: 0;line-height: 1.5;}

These stellar banks and credit unions are making all the right moves to win satisfied customers:

  • Best Credit Unions
  • Best Internet Banks
  • Best Regional Banks
  • Best Banks for High-Net-Worth Families
  • Best Banks for Frequent Travelers
  • Best Banks for Small-Business Owners
  • Best Banks for Millennials
  • Best Banks for Families With Students
  • Best Banks for Military Personnel
  • Best Banks for Retirees
  • banking
  • savings
Share via EmailShare on FacebookShare on TwitterShare on LinkedIn

Recommended

Switch Accounts for a Better Yield?
Financial Planning

Switch Accounts for a Better Yield?

If your current account has a reliable history of strong yields, it might be worth sticking around.
February 23, 2021
Is Pet Insurance Worth It?
Making Your Money Last

Is Pet Insurance Worth It?

If you’ve added a dog or cat to your family, consider pet insurance to manage routine and unexpected veterinary bills.
December 16, 2020
17 Best Amazon Prime Perks for the Holidays
savings

17 Best Amazon Prime Perks for the Holidays

Having an Amazon Prime membership isn't just about Amazon Prime Day. From Amazon for Students to Amazon Music, the benefits of Amazon Prime are far re…
December 1, 2020
Find Higher Yields for Your Cash
Financial Planning

Find Higher Yields for Your Cash

Interest rates are scraping bottom, but here’s a road map to accounts that will help your money grow.
November 24, 2020

Most Popular

Where's My Refund? How to Track Your Tax Refund Status
tax refunds

Where's My Refund? How to Track Your Tax Refund Status

If you're waiting for your tax refund, the IRS has an online tool that lets you track the status of your payment.
March 2, 2021
Where's My Stimulus Check? Use the IRS's "Get My Payment" Portal to Get an Answer
Coronavirus and Your Money

Where's My Stimulus Check? Use the IRS's "Get My Payment" Portal to Get an Answer

The IRS has an online tool that lets you track the status of your stimulus checks.
February 19, 2021
Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
  • Customer Service
  • About Us
  • Advertise With Us (PDF)
  • Privacy Policy
  • Cookie Policy
  • Kiplinger Careers
  • Accessibility
  • Privacy Preferences

Subscribe to Kiplinger's Personal Finance

Be a smarter, better informed investor.
Save up to 76%Subscribe to Kiplinger's Personal Finance
Dennis Publishing Ltd logoLink to Dennis Publishing Ltd website
Do Not Sell My Information

The Kiplinger Washington Editors, Inc., is part of the Dennis Publishing Ltd. Group.
All Contents © 2021, The Kiplinger Washington Editors

Follow us on InstagramFollow us on FacebookFollow us on TwitterConnect on LinkedInConnect on YouTube