A bank is a financial establishment that provides consumers with financial products and other related services. They provide consumers with essential banking services to more specialized services such as loans and mortgages, wealth management, investments, and certificates of deposits. Furthermore, they issue letters of credit and provide their customers with international transactions.Let us see the biggest banks in the US.
Biggest banks in the US
The biggest banks in the US are:
- JP Morgan Chase
- Capital one financial corporation
- Bank of America
- Trust financial corporation
- Wells Fargo
- Citi group
- U.S Bancorp
- Goldman Sachs Group
- TD Group US Holdings LLC
- PNC financial services group
JP Morgan Chase
JP Morgan Chase is a private investment bank and financial services provider with its headquarters in New York City and operations around the world. Its total assets are worth $2.87 trillion. It provides solutions to corporations, governments, and institutions. It delivers financial services to corporates, real estate investors, and owners. The banks affiliated with JP Morgan Chase are Chase Manhattan Corp, bank one for, Bear Stearns companies inc, Washington mutual bank Cazenove group, Instamed, and WePay.
Capital one financial corporation
With its total assets worth $432 billion, Capital one financial corporation provides personal banking accounts, credit cards, and loan assistance. It is the second-largest car finance bank after Ally bank. You need a minimum deposit of $250 and they charge no monthly fees.
Bank of America
Bank of America with headquarters in Charlotte, North Carolina is an American financial services provider. They provide banking, credit cards, home, and car loans. The minimum opening deposit is $100. The net asset of Bank of America is $3.08 trillion.
Trust Financial Corporation
Trust financial corporation with headquarters in Charlotte, North Carolina, provides financial services such as savings, checking, wealth, and asset management financing. It has $509 billion in assets and has a minimum opening deposit of $100.
Wells Fargo
With its headquarters in San Francisco and total assets of $1.95 trillion, Wells Fargo provides consumer and commercial finance as well as banking investment, mortgage products, and services. They charge a monthly service fee of $10, and you need an account balance of $300. If however, you have a minimum balance of $500 the service fee of $10 is waived.
Citigroup
Citigroup is a global bank with its headquarters in New York City. It has its presence in over 160 countries. Its total assets are about $2.2 trillion. They provide credit cards, banking, lending, investing, and wealth management. To open a savings account, you need at least $100,
US Bancorp
US Bancorp with headquarters in Minneapolis, Minnesota, Is a financial services provider and has a total asset of $573 billion. They provide trust and investment banking as well as regular banking services such as saving and checking accounts and investment banking. You will need $25 as the minimum account opening deposit.
Goldman Sachs Group
Goldman Sachs is an investment and financial services bank that provides investment and asset management, financial services, consumer banking, and wealth management services. It has a net income of $99 billion. It has no minimum account opening balance or deposit provided you find your account within 60 days.
TD Group US Holding LLC
With headquarters in Cherry hills, New Jersey provides savings and current accounts, loans, mortgages, and investment banking services. They charge a monthly maintenance fee of $15 and there is no minimum account opening deposit. When you open a check or savings account and deposit $20000 within 20 days, you earn $200. TD group us holding LLC has a net asset of $524 billion.
PNC Financial Services group
PNC Financial Services Group is a private bank that provides financial services corporation in Pittsburgh, Pennsylvania. By assets, it is the 7th largest bank. You can earn up to $300 when you open a checking account but you must check with the location as not all branches provide this. It provides investments and wealth planning. Its net assets are $557 billion. You need a deposit of at least $25 to open an account.
Summary
Banks provide financial products and services to individuals and corporations. Most of the services are the provision of saving and current accounts, investment, wealth, and asset management. They also provide car finance and mortgage loans. The biggest banks offer all these services and some perks when you maintain a minimum deposit in your account within a specified period.
Big banks provide a plethora of financial services and have their presence everywhere regardless, they give less competitive pricing, will not lend to low-income earners, and low-income time to process loans.
FAQ
Which of the biggest banks have branches all over the United States?
Wells Fargo, JP Morgan Chase, and Bank of America
Who owns Bank of America’s major shares?
Berkshire Hathaway
What banks are inferred as the large four banks in the United States?
Citigroup, Wells Fargo, Bank of America, and
JP Morgan Chase,
