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Best Banks in New York City

The variety of New York’s banking options can feel overwhelming when you’re trying to make the right choice for your finances. Given the fact that New York City is the most populous city in the United States. With so many people living in a place that never sleeps, it’s important to have a bank that can keep up with the various needs of different customers. To help you decide which banks offer the features and benefits that you need is why this post is written.Best Banks in New York City

Aside from that, you need to know that New York City is a major financial capital in the United States.

According to stats, there are a total of 206 local and national banks offering banking services for citizens in New York with 4627 branches in 809 cities.

More so, it’s reported that the largest banks in New York with the most branches are: Chase Bank with 668 offices, Bank of America with 271 offices, KeyBank with 268 offices, TD Bank with 262 offices, and M&T Bank with 245 offices, Citibank with 226 offices and Community Bank with 167 offices.

Without spending much of your time, let’s quickly get to the banks that are topmost. A lot of things were put in place before the list I provided below came up to be the best like free checking, high-yield savings, and small business accounts. And lots more.

Best Banks for Checking Accounts

You’re not alone if opening a new checking account seems worse than cleaning out your garage or a trip to the dentist for a root canal. Choosing a new account, redirecting your direct deposits. And changing your automatic bill payment options takes time and a lot of patience. But it’s a task that must be done, particularly if your existing account isn’t the best fit for your current lifestyle.

To make the list more minimal, three factors were used to analyze the best checking account bank in the City of New York; accessibility, affordability, and consumer-friendliness.

Chase Bank

First, Chase Bank is the best when it comes to banks that have the highest branch and ATMs. Chase Bank is the consumer banking arm of JPMorgan Chase, one of the largest banking companies in the U.S. Chase offers a full range of banking services, including checking accounts, savings accounts, CDs, and money market accounts.

The bank, which can trace its roots to 1799, has grown through several signature mergers over the years, including one with Bank One Corp. in 2004 and its 2008 acquisition of the deposits and most of the assets of the failed Washington Mutual.

If you like having quick access to branches and ATMs. And you live where the bank operates — Chase is an obvious choice. If you’re hunting for good rates or want to be able to use the first ATM you see without paying a high out-of-network fee, look elsewhere.

Chase has more branches and ATMs (including ones in every Duane Reade) than any other bank in the NY metropolitan area. Their branch service is better than Citi and some other NYC banks but not as good as say Commerce Bank but they don’t have many branches or ATMs. Chase’s online banking is excellent.

Of a truth, no other bank comes close to running as many locations in New York as Chase. In most neighborhoods, you can spot Chase branches every three or four blocks, with vestibules offering 24/7 ATM access.

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It makes sense to say that this is especially important because the bank charges the typical $2.50 every time you withdraw cash or check balances at out-of-network ATMs. Combined with the surcharge from the original owner of the machine, Chase’s ATM fee can get out of hand if you don’t stick to the bank’s own ATMs.

Other Info about Chase Bank

  • With more than 5,100 branches and 16,000 ATMs, Chase’s physical footprint is huge.
  • The bank’s website and mobile app are consistently rated highly by users.
  • While it has monthly service fees on most accounts, avoiding fees are relatively easy — especially with a direct deposit into its Chase Total Checking.
  • While some banks are condensing and consolidating, Chase has been expanding and adding branches.
  • Chase has been known to reward new customers with bonuses if they come bank at Chase.

Apple Bank for Savings

I did recommend that you consider Apple Bank for savings if you want a bank with no monthly maintenance fee. More so, it’s best for free checking.

Apple Bank for Savings, whose headquarters are in Manhasset, New York, lacks premium access to support representatives, with no live chat or all-day service options available.

It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. On the whole, Apple Bank for Savings is a solid contender in your bank search, with a rating of 4.3 out of 5 stars from our experts.

Apple Bank for Savings provides customers with a mixture of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products, and credit cards.

More so, Apple Bank for Savings has a fair savings rate; you can find higher rates with other banks. If you’re looking for a checking account for everyday use, Apple Bank for Savings’s ordinary checking account does not have a monthly fee.

Banks that offer free checking, as well as a high-interest rate savings account, are your best option for accruing the most income on your deposits while having convenient access to your money.

The good news is that Apple Bank’s Extra Value Checking Account offers unconditional free service. Also, new customers at Apple Bank receive a $100 bonus when they establish recurring direct deposits from an employer or benefit program.

While smaller than other signup offers, this is one of the easiest rewards to obtain from a retail bank, with no minimum amount required.


HSBC Premier Savings – the best offer to customers. And it’s the best customer friendly bank.

I did recommend you consider this if you want a bank whose fee policies are more transparent and customer-friendly.

HSBC has been part of the banking world for over 150 years. While its beginnings date back to its first bank branch in Hong Kong in 1865. HSBC is an international bank with fingerprints around the globe, including the U.S.

A host of personal banking products are available through HSBC, as well as HSBC Direct, its online-only banking division. HSBC has banking solutions for students, businesses, and corporations.

Also, it’s UK-based HSBC is one of the most customer-friendly banks in New York City. As a member of the FDIC, HSBC also provides account holders with the protection of deposit insurance.

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The customer service benefits of HSBC are many. According to a 2015 Pew study, HSBC outperformed every other brick-and-mortar bank in fairness. And the transparency of its disclosures, overdraft policy, and dispute resolution. HSBC won’t charge you an overdraft fee so long as your balance at the end of the day is overdrawn by $10 or less.

Moreover, HSBC processes your daily transactions from the lowest to the highest amount. Some other banks process your charges from biggest to smallest as a way to increase the number of overdraft fees you’ll owe them when you overspend.

Santander Bank

Santander made our list of Best Banks in New York City. The best for Student Value Checking. More so, I would recommend Santander Bank if you are under 25. Infant, it’s best for Students in NYC.

Santander Bank has several options for checking. And savings account with no minimum deposit requirements, making it suitable for a variety of customers. In particular, the bank is best for those who want to:

  • Open a student checking or savings account with no fees
  • Open a checking account with easy fee waiver requirements
  • Visit a bank with physical branches in the Northeast

Santander Bank’s Student Value Checking account comes with unique advantages for international students in New York. This student account is not only free for anyone between 16 and 25 years old.

But it also grants a waiver on the bank’s usual incoming wire transfer fee. This makes Santander one of the most cost-effective options for an international student receiving financial support from abroad.

Capital One Bank

Capital One Essential Savings. This bank is best for individuals looking for a high-interest-rate savings account. In other words, it’s best for saving rates.

The online banking unit of Capital One Financial Corp offers checking, savings, and certificates of deposit. Richard Fairbank and Nigel Morris started building Capital One (then as a unit of Signet Bank) in 1988. In 1994, Capital One spun off under its name, offering credit cards. In 2012, Capital One acquired ING Direct and rebranded the well-regarded online lender as Capital One 360.

Among brick-and-mortar banks available in New York City, Capital One’s Essential Savings account offers both the highest introductory rate and the highest standard rate.

More so, new customers with more than $10,000 to deposit can receive 0.80% APY for the first six months, with the rate dropping to 0.50% afterward.

Indeed, even Capital One’s rate of 0.30% APY on balances below $10,000 represents a large improvement over the standard savings options at the bank’s larger competitors, which usually earn a tenth of that APY.

The 360 Savings account offers five times the national average for all balances and doesn’t have a minimum balance requirement. So this account is for all levels of savers.

On the other hand, Capital One 360 offers a savings account that’s available online and through mobile devices. Users can set savings goals. And automatic savings plans (with funds transferred from a Capital One 360 checking account) for additional budgeting utility.

Capital One Bank – Small Business

Capital One Spark Business Basic Checking. I recommend this for people who need easy-to-access free business checking.

To begin with, with a potentially huge bonus and ongoing 2% cash-back rewards rate. The Capital One Spark Cash has much to offer businesses that spend a lot. It has a $95 annual fee that’s waived for the first year.

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The Capital One Spark Cash is a solid choice for businesses that plan to charge quite a lot to a card, a minimum of $500 or so a month. It’s especially suited to owners who plan to run up far higher spending at the outset. That’s because charging $4,500 to the card within your first three months earns a $500 bonus.

How to Find the Best Bank for You

You might not realize that selecting a bank is one of the most important financial decisions you’ll ever make. Banks can avail you of financial opportunities like high-interest savings accounts and free checks, or they can cost you money. And inconvenience you in a myriad of ways from monthly maintenance fees to limited ATM availability.

Picking the right one can help your life run smoothly while picking the wrong one can be frustrating and take time away from the things that are most important to you.

In the end, to choose a bank that’s right for you, consider your current financial situation, your existing banking habits, and your future needs.

There are a variety of factors to consider when choosing the bank that’s right for you. These include locations, product and service availability, fees, interest rates. And much more. Thus, decide which ones are most important to you. And look for banks or credit unions that provide them.


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  • Christian Ehiedu

    I write for Educational, Financial, technology, and social media content producers. I am deep into doing credible research that will benefit you the reader. You can contact me on Tumblr, Chris Adam Facebook, Shopfortool Pinterest Account. I am a Technician and a woodworker. I have lots of years of experience in Technical work. I did some per time work at an electrical store. Having gathered lots of experience in the use of various tools link Mechanic Tools, Woodworking Tools, Power Tools, and Plumbing tools, I decided to put up this blog to help advise intending buyers or new biz on the right tools to buy on the market. My social Handle:

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