Arizona, which is also called the Grand Canyon is a state in the United States. Arizona has several banks for financial transactions, which include deposits, savings, withdrawals, transfers of money, and payment of bills. These banks’ services help to provide credit card, loan, or security card services to their privileged customers.
Residents in Arizona that wish to open a bank account have several options to choose from. However, different banks offer different services and perks, so it’s important to know which is right for the nature of your business or income. In this article, we have put together the best banks in Arizona State, from which you can make the right choice. They include Chase, Bank of America, First National Bank of Texas, MidFirst Bank, CIT Bank, and BMO Harris Bank.
The Six Best Banks in Arizona
Chase
Chase is the largest bank in the United States. It has average annual progress (AYP) of 0.01% and a monthly maintenance fee of $25. However, it can be waived with a balance of $1,500 at the end of four weeks or a direct deposit of $500. Chase Bank has an ATM at its location for convenient withdrawals and a mobile app for smartphone users to carry out check deposits, bills, and credit card payments. Chase banking options have checking accounts for kids, teenagers, and those in college with no money to open.
Bank Of America
Bank of America is a national bank with 100 branches in the copper state of Arizona. The bank provides services through its subsidiary platform, Merrill Edge, which helps customers handle their car loans, mortgages, and investments. Bank of America requires a minimum of $100 to get started and 0.01% AYP.
There are three types of deposit accounts with Bank of America. The Advantage SafeBalance account comes with a monthly maintenance fee of $4.95, which is subject to a waiver. The Advantage Plus account comes with a monthly waivable fee of $12 and more features than the first. The third type, the Advantage Relationship, is designed for those with higher balances.
First National Bank Of Texas
The name First National Bank of Texas doesn’t mean it’s only in Texas; it is established in Arizona too. The bank allows for a free savings account with a monthly fee of $5. However, it can be waived with a daily balance of $100 or a monthly deposit of $100 from another bank. The AYP is at 0.05% but can reach 0.1% with a balance of $50,000 or more. In addition, First National Bank of Texas provides a special option for kids and teenagers.
MidFirst Bank
MidFirst Bank in Arizona has been awarded the highest-ranked bank in the Southwest part of the United States. The smallest amount for opening an account is $100 with an AYP of 0.05%. MidFirst Bank has a specific account for kids and teenagers known as the iSave Savings account. Also, as a customer, you can receive an RV, a car, or a boat loan. There are several educational and online resources to be accessed at MidFirst Bank.
CIT Bank
CIT is an online bank with an attractive AYP of 0.7%. This benefit requires a minimum amount of $25,000 at the end of the year or a monthly deposit of $100. To open a CIT savings account, you will need to deposit a minimum of $100 to get started. This bank is best for those who can retain a monthly deposit that’s equal to or above the minimum $100, or those who have a large savings balance at the end of the year. The CIT mobile app is available for both iOS and Android devices.
BMO Harris Bank
BMO Harris Bank is known to have 50 locations in Arizona, with three different types of bank accounts. The SmartAdvantage bank accounts at BMO Harris need no monthly service fee if your bank statement is online. A demand for a copy of your bank statement will attract a fee of $2. A minimum of $25 is allowed to open an account with BMO Harris, and it comes with a 0.01% AYP. BMO Harris Bank has a mobile app that makes online transactions more convenient for its customers.
Conclusion
Arizona State is home to several banks from which you can choose which is best for your mode of income or business type. The listed banks in this article are considered the best banks in Arizona. This doesn’t make other banks less competent, because they have good offers and services too. It’s only a matter of preference.
Frequently Asked Questions
- What do I need to open an account in a bank?
You will need a government ID and a social security number.
- Are there online banks in Arizona State?
Yes, there are. CIT Bank is one of them.
