For the 2023 edition of Best Banks, Money evaluated 293 financial institutions, including national banks, direct or online banks, and credit unions. We looked at hundreds of data points covering minimum deposits, rates, fees, and other features like customer service and convenience.
Of those 293 institutions, we established Money's top picks in the following categories: best national banks, best online banks, best credit unions, best banks for students, best banks for seniors, and best military banks and credit unions.
We also looked at four regions: Northeast, Southeast, Midwest and West. Finally, we examined California, Texas, Florida and New York in this year's edition.
Data analyzed was provided by Curinos in summer 2023.
Money's Best Banks is one of the publication's oldest franchises, providing readers an annual analysis of the institutions best for everyday banking needs.
By Leslie Cook, Adam Hardy, Brenden Rearick, Bryant Guardado, Mary Ellen Cagnassola and Jill Cornfield
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* APY for deposit accounts varies depending on balance, type of account and/or area
# Membership in a credit union is obtained by opening a savings account with a $5 deposit in many cases. However, some credit unions may have higher or lower opening deposit requirements. The minimums quoted here are to become a member of the credit union.
^ Monthly fee can be waived
Note: APYs are valid as of 9/26/2023
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All ratings are determined solely by our editorial team. JPMorgan Chase, the financial institution that owns Chase Bank, topped our experts' list because it's designated as the world's most systemically important bank on the 2023 G-SIB list.
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