The Best Banks In California

California, which is among the three largest states in the United States, is home to so many infrastructures that make life in the U.S. beautiful and convenient. One of such infrastructures is what helps you manage, save, and invest your money which includes deposits, savings, withdrawal, transfer of money, and payment of bills. Also, bank services help to enable transactions outside the country through online platforms. If you are new in California, with the intention of living and doing business for at least 1 year, getting a physical or online bank account is something you need to consider. In this article, are put together the best banks in California from which you can make the right choice. They include Chase, Bank of America, Wells Fargo, Bank of the West, CIT Bank, United States Bank, and Union Bank.

The Best Banks In California

Seven Best Banks in California


Chase is the largest bank in the United States, with 400 branches in California. It has an Average Yearly Progress (AYP) of 0.01% and a monthly maintenance fee of $25. However, can be waived with a balance of $1,500 at the end of four weeks or a direct deposit of $500. Chase Bank has ATM at its location for convenient withdrawal 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. 

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Bank of America

Bank of America is a national bank with 469 branches in California. The bank offers services through its subsidiary institution, Merrill Edge, which helps customers handle their car loans, mortgage, and investments. Bank of America deducts a monthly maintenance fee of 25$, which can be waved with a balance of $10,000 from mixed accounts. Its mobile app is a robust platform for different types of bank transactions. 

Wells Fargo 

Wells Fargo is a bank with a physical location and several branches. Over 1000 branches of Wells Fargo are established in California. The provisions from Wells Fargo give you multiple options of savings or deposit accounts for different reasons which include, teens, retirement, and certificates of deposit. Wells Fargo operates online through their mobile app and offers several helpful banking services like auto loans, credit cards, wealth management programs, etc. To open an account with Wells Fargo, you will need a minimum of $25 for a deposit. Their AYP is only 0.1%. 

Bank of the West

Bank of the West offers savings, checking, and Certificates of deposit accounts. Their AYP is 0.01% but they offer assistance like loans for your RV, house, or boat. Moreso, credit cards, cash back, and some levels of rewards are available at Bank of the West. The minimum requirement to open a savings account with then is $25 with a monthly fee of $5 and a minimum of $10 for a checking account. Their mobile app makes distant and online transactions available to their customers. 

CIT Bank 

CIT Bank is an online banking institution 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 keep a monthly deposit that’s equal to or above the minimum $100, or those who have large savings balance at the end of the year. CIT mobile app is available for both iOS and Android devices. 

United States Bank

The United States Bank is popularly branded as a U.S. bank. It has 650 locations in the Golden State of California. Their smallest amount to open an account is $25 with an AYP of 0.01%. Their banking services cover several types like savings, checking, money market, credit card, and loan account. U.S bank is well recognized for their products and ability to handle customers with complaints or inquiries. 

Union Bank 

Checking accounts with Union Bank automatically receives a 0.01% AYP which is flexible to increase by 0.25% if you can sustain a balance of $2,500 at the end of the year. The smallest amount to open an account with Union Bank is $50 and a monthly service fee of $25. But you can waive the monthly fee if you can keep a balance of $25,000 at the end of the month. The bank has multiple ATM locations making withdrawal easy for customers. 


California, the Golden 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 California. This doesn’t make other banks less competent, because they have nice offers and services too. It’s only a matter of preference. 

Frequently Asked Questions

  • Are there online banks in California?

Yes, there are. CIT Bank is one of them. 

The Best Banks In California

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