11 Safest Banks in the U.S. to Deposit Your Hard-Earned Cash (2024)

When it comes to storing your money, you want the safest option. Keep reading to learn all about the safest banks in the U.S.

11 Safest Banks in the U.S. to Deposit Your Hard-Earned Cash (1)

The Safest Banks in the U.S.

  1. JPMorgan Chase
  2. U.S. Bank
  3. PNC Bank
  4. Citibank
  5. Wells Fargo
  6. Capital One

  7. AgriBank
  8. CoBank
  9. AgFirst
  10. Farm Credit Bank of Texas

When it comes to your money, the importance of safety and security can't be overstated.

And banks face a variety of threats today: hackers, ransomware, data leaks, and even bank failure.

So, where's the safest bank to keep your money? Dive into this guide and find out which banks are the safest in the U.S.

Which of these banking safety issues are you most concerned about?

How many banks have failed?
A total of 566 banks have failed between 2001 and 2024, as reported by the FDIC.

Safest Savings Accounts to Store Your Money

Looking for a safe haven for your hard-earned money? Here are the best FDIC or NCUA insured savings accounts that also offer attractive returns.

Safest savings accounts with high APYs:

  • Western Alliance Bank: High-Yield Savings Premier - 5.36% APY
  • CloudBank 24/7: High Yield Savings Account - 5.26% APY
  • UFB Secure Savings: Earn up to 5.25% APY
  • WECU: High-Yield Savings Account - 5.25% APY
  • Nelnet Bank: High-Yield Savings Account - 5.25% APY
  • DR Bank: High-Yield Savings Account - 5.23% APY
  • Upgrade: Premier Savings - Up to 5.21% APY
  • RBMAX: High-Yield Savings Account - 5.20% APY
  • Customers Bank: High-Yield Savings Account - 5.16% APY
  • Mission Valley Bank: High Yield Savings Account - 5.12% APY

High-Yield Savings Premier - 5.36% APY

  • No account activity or maintenance fees
  • $500 minimum opening deposit
  • FDIC insured

5.36% annual percentage yield (APY) is accurate as of 1/17/2024 and subject to change at the Bank's discretion. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY. Member FDIC

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Member FDIC

CIT Bank Platinum Savings - 5.05% APY

  • 5.05% APY with a balance of $5,000 or more
  • 0.25% APY with a balance of less than $5,000
  • $100 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC

Visit Bank Website

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Member FDIC

UFB Secure Savings - Earn up to 5.25% APY

  • Earn up to 5.25% APY*
  • No monthly maintenance fees
  • No minimum deposit required to open an account
  • Access your funds 24/7 with easy-to-use digital banking tools

Visit Bank Website

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Lock in a high APY with these top CDs:

  • Western Alliance Bank: 3-Month High-Yield CD - 5.26% APY
  • Ponce Bank: 3-Month High-Yield CD - 5.25% APY
  • Consumers Credit Union: 13-Month Super Jumbo CD - 5.25% APY
  • The State Exchange Bank: 4-Month High-Yield CD - 5.15% APY
  • SkyOne Federal Credit Union: 5-Month High-Yield CD - 5.10% APY
  • Quontic: CD Rates - Up to 5.05% APY
  • American First Credit Union: 12-Month High-Yield CD - 4.90% APY
  • Idabel National Bank: 9-Month High-Yield CD - 4.75% APY
  • Blue Federal Credit Union: 15-Month High-Yield CD - 4.70% APY
  • Discover Bank: 1 Year CD - 4.70% APY

Are National Banks Safer?

With recent bank failures, you may wonder "are national banks safer than smaller, local banks?"

National banking titans, like Chase, do have certain advantages, such as:

  • Robust security measures: National banks invest heavily in cutting-edge security to protect your funds and personal data against threats.
  • Financial stability: Their vast assets and diverse portfolios help buffer against market swings.
  • Federal oversight: National banks are subject to stringent regulations by federal agencies to guarantee compliance.

Plus, the largest national banks are often considered "too big to fail". This is the theory that they're so crucial to the economy that collapse would cause major disaster. So the government is likely to step in and support them to avoid failure.

In 2023, the U.S. banks considered "too big to fail" include Chase, Bank of America, Citigroup, and Wells Fargo.[1]

However, whether it's a national or local bank, your money is protected as long as the bank is a member of the FDIC. This insures your deposits up to $250,000.

Explore a curated list of offers from top-tier banks. Find a solution that aligns with your safety and financial needs.

Member FDIC

Bank of America Advantage Banking - $200 Bonus Offer

Learn More

Expires 5/31/2024

  • The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
  • The offer is for new checking customers only.
  • Offer expires 5/31/2024.
  • To qualify, open a Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new account within 90 days of opening.
  • Bank of America will attempt to pay bonus within 60 days.
  • Additional terms and conditions apply. See offer page for more details.
  • Bank of America, N.A. Member FDIC.

Chase Total Checking® - $300 Bonus

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Expires 7/24/2024

  • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
  • Access to more than 15,000 Chase ATMs and more than 4,700 branches
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*11 Safest Banks in the U.S. to Deposit Your Hard-Earned Cash (7)

Member FDIC

Discover® Cashback Checking – Up to $30/Month Cashback

Get Deal

Earn 1% cash back on up to $3,000 in debit card purchases each month, for a total of up to $30 cashback per month. Discover Cashback Debit checking account has no minimum balance requirement, no fees, and free online bill pay. See website for details.

Member FDIC

U.S. Bank Smartly® Checking and Standard Savings - Up to $700 Bonus

Learn More

Expires 6/27/2024

Earn up to $700 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC.

Earn up to $500 with a new Bank Smartly Checking account. Complete the following within 90 days of account opening:

  • Enroll in online banking or the U.S. Bank Mobile App
  • Make two or more direct deposit(s) totaling $3,000 to $4,999.99 to earn $100, $5,000 to $9,999.99 to earn $300 or $10,000 or more to earn $500

Earn up to $200 with a new Standard Savings account.

  • Make new money deposit(s) totaling $15,000 or more by July 17, 2024
  • Maintain that balance until October 31, 2024

Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.

What do you feel is the safest way to bank?

Safest Banks in the U.S.

11 Safest Banks in the U.S. to Deposit Your Hard-Earned Cash (10)

Below, review the safest banks in the U.S. Compare and explore the security features they employ to keep your money safe.

JPMorgan Chase

Member FDIC

Chase

Pros:
  • More than 4,700 branches
  • New customer coupons
  • Full service banking
Cons:
  • Low interest rates
  • Not in all states

Our Review: 11 Safest Banks in the U.S. to Deposit Your Hard-Earned Cash (14)11 Safest Banks in the U.S. to Deposit Your Hard-Earned Cash (15)11 Safest Banks in the U.S. to Deposit Your Hard-Earned Cash (16)11 Safest Banks in the U.S. to Deposit Your Hard-Earned Cash (17)11 Safest Banks in the U.S. to Deposit Your Hard-Earned Cash (18)11 Safest Banks in the U.S. to Deposit Your Hard-Earned Cash (19) (3.6) Chase has new customer bonuses and a strong nationwide presence. But there are drawbacks. Read this review to see if Chase is a good bank for you... Read full review

Chase Bank $300 Bonus

JPMorgan Chase, or simply known as Chase, is a bank with a very long history in business, founded over 225 years ago in September 1799.

Today, they have over 4,700 branches and more than 15,000 ATMs. It's the only bank to have a physical presence in all 48 contiguous states.

Chase is the largest of the "big four" banks in the U.S., with over $3.9 trillion in assets as of 2023.[2] It serves over 66 million American households and over 5 million small businesses.

FDIC Insured: Yes

Security FeaturesDescription
Account AlertsChase will send you transaction alerts to help you spot suspicious activity on your accounts. If they find you cannot be reached, they may put a temporary hold on your account.
Two-Factor AuthenticationPrevents unwanted login to your accounts. They will employ extra precautions for unrecognized devices.
Controlled AccessChase will require passwords whenever providing your banking information to third-party businesses.
Fraud Prevention ResourcesChase has support teams ready to help you in case you think you've been the victim of fraud.
Data Encryption128-bit encryption protects your banking data.

Chase is known for its great checking options. It has accounts not offered by some other banks, like student checking and second chance checking. And they even offer bonuses for new customers.

Member FDIC

Chase Total Checking® - $300 Bonus

  • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
  • Access to more than 15,000 Chase ATMs and more than 4,700 branches
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*11 Safest Banks in the U.S. to Deposit Your Hard-Earned Cash (21)

Open an Account

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Expires 7/24/2024

Chase Secure Banking℠ - $100 Bonus

  • New Chase checking customers enjoy a $100 checking account bonus when you open a Chase Secure Banking℠ account with qualifying transactions. Open online or at any Chase branch.
  • Set up direct deposit and you may get your money up to two business days early-exclusively for Chase Secure Banking℠ customers.
  • No minimum deposit to open an account and get started plus no overdraft fees with a Chase debit card that helps you stay within your balance.
  • No need to worry about overdraft fees - Chase Secure Banking℠ allows you to spend only the money you have available.
  • Chase Secure Banking℠ customers told us they save an average of more than $40 per month on fees after opening their account.
  • Track your credit score, get a personalized action plan provided by Experian™ to help improve your score and receive identity monitoring for free through Chase Credit Journey®.
  • Pay bills, cash checks and send or receive money with Zelle® with a Chase Secure Banking℠ account.
  • Bank from anywhere with access to more than 15,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and Chase.com.
  • JPMorgan Chase Bank, N.A. Member FDIC.

Get $100 Coupon

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Expires 7/24/2024

Chase Business Complete Banking® - $300 Bonus

  • Earn $300 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.
  • Multiple ways to waive the $15 Monthly Service Fee, including maintaining a minimum daily balance or purchases on your Chase Ink® Business credit card.
  • Full-service business banking. Convenient access to all your business banking services in one place -- lending, checking, credit card and payment solutions.
  • Your choice of payment types. Choose from a full range of options for accepting payments and making deposits that include Zelle®, Online Bill Pay, wire transfers and ACH payments.
  • Convenient access to payment processing. Process all major debit and credit cards with QuickAccept®. It's a built-in feature with your Business Complete Checking account.
  • Helping you save money. Multiple ways to waive $15 service fee and unlimited digital transactions helps you keep more of your money.
  • Full-featured banking online and on-the-go. Manage your business' finances on your terms with the latest online and mobile banking technology.
  • Trusted and secure financial partner. We're committed to helping you grow and protect your business.

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Expires 7/22/2024

U.S. Bank

U.S. Bank, also referred to as U.S. Bancorp, is a large bank based in Minneapolis, Minnesota, and currently stands as the fifth-largest banking institution in the U.S.

They have over 2,000 branches and operate over 4,800 ATMs across the country, with $663.5 billion in total assets by the end of 2023.[3]

FDIC Insured: Yes

Security FeaturesDescription
Identity AuthenticationU.S. Bank offers a range of methods for authenticating your identity, including one-time passcodes, biometrics, and visual patterns.
Fraud Prevention ResourcesU.S. Bank knows that customers educated on the many ways they might be defrauded are less likely to fall victim to it. They provide a variety of useful resources to help customers practice safe banking habits.
Report Suspicious ActivityCustomers can report suspicious activity on their accounts by phone or email.
Data EncryptionThis prevents unwanted third parties from getting access to your information.

Member FDIC

Silver Business Checking Package - Up to $800 Bonus

Earn up to an $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q1AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through April 23, 2024. Member FDIC. Complete these steps to earn the offer:

Earn your $350.

  • Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.

Earn your $800.

  • Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.

Get Deal

Read Review

Expires 4/23/2024

Member FDIC

Gold Business Checking Package - Up to $800 Bonus

Earn up to an $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q1AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through April 23, 2024. Member FDIC. Complete these steps to earn the offer:

Earn your $350.

  • Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.

Earn your $800.

  • Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.

Get Deal

Read Review

Expires 4/23/2024

Member FDIC

Platinum Business Checking Package - Up to $800 Bonus

Earn up to an $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q1AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through April 23, 2024. Member FDIC. Complete these steps to earn the offer:

Earn your $350.

  • Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.

Earn your $800.

  • Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.

Get Deal

Read Review

Expires 4/23/2024

PNC Bank

PNC Financial Services Group, Inc., a fairly large U.S. bank headquartered in Pittsburgh, PA, operates in 28 states across the country. Like many of the banks listed here, PNC has quite a long history, dating back to 1852 when it was founded.

PNC has approximately 2,400 branches, 60,000 PNC and partner ATMs, and has $562 billion in assets.[4]

FDIC Insured: Yes

Security FeaturesDescription
Identity AuthenticationPNC offers a range of methods for authenticating your identity, including two-factor authentication and security questions.
Fraud Prevention ResourcesPNC Bank provide a variety of useful educational resources to help customers practice safe banking habits.
Report Suspicious ActivityCustomers can report suspicious activity on their accounts by phone or email.
Data EncryptionThis prevents unwanted third parties from getting access to your information.

Citibank

Citibank is the consumer-facing side of the multinational investment bank and financial services corporation, Citigroup, which is another of the big four banks in the U.S.

Citibank is relatively new compared to some of the other banks on this list, only forming in 1998 after a merger between Citicorp and Travelers Group.

Citibank is based in Manhattan, NY, and has over 700 branches in the U.S., with more abroad, and in 2022, Citigroup Inc. had $2.4 trillion in total assets.[5]

FDIC Insured: Yes

Security FeaturesDescription
Account AlertsCitibank will send you transaction alerts to help you spot suspicious activity on your accounts.
Liability ProtectionCustomers aren't liable for unauthorized transactions on their accounts.
Turn Your Card On/OffIn case your card is lost or stolen, you can turn off your card, and turn it on again if you recover it.
Two-Factor AuthenticationPrevents unwanted login to your accounts.
Data EncryptionThis prevents unwanted third parties from getting access to your information.

Wells Fargo

Wells Fargo, founded nearly 100 years ago in 1929, is a multinational bank based in the U.S., with headquarters in San Francisco, CA, and Manhattan, NY.

They operate over 5,600 branches and 12,000 ATMs, and as of 2023 they had $1.9 trillion in assets.[6]

Wells Fargo is one of the "big four" banks in the U.S., which in 2018 held 45% of all consumer deposits.

FDIC Insured: Yes

Security FeaturesDescription
Account AlertsWells Fargo will send you transaction alerts to help you spot suspicious activity on your accounts. Includes purchases online, by phone, and by mail, ATM withdrawals or cash advances, and purchases over amounts you set.
Control TowerTurn on and off cards and digital card numbers, view recurring payments, control third-party access to financial statements, all in one place.
Travel PlansNotify your bank before traveling so they can monitor for suspicious activity.
Turn Your Card On/OffIn case your card is lost or stolen, you can turn off your card, and turn it on again if you recover it. The bank may still allow preset transactions.
Account Access Manager (Small Business)Small business owners can add or revoke access to their business banking accounts.
Two-Factor AuthenticationPrevents unwanted login to your accounts.
Biometric Sign On and Voice VerificationThese help the bank confirm you are who you say you are.

Capital One

Capital One is a newer bank that has grown immensely in the short time it's been around (it was founded in 1994). It's based in Richmond, VA, and in 2016, it came in fifth behind American Express, Chase, Bank of America, and Citigroup as largest issuers of credit cards.

Capital One operates over 280 branches and 70,000+ Capital One, Allpoint and MoneyPass ATMs across the U.S., and had $478.5 billion in assets as of 2023.[7]

FDIC Insured: Yes

Security FeaturesDescription
Account AlertsCapital One will send you transaction alerts to help you spot suspicious activity on your accounts. You can set up instant purchase alerts to be notified whenever money is spent.
Account MonitoringCapital One will automatically monitor your account for suspicious activity.
Turn Your Card On/OffIn case it's lost or stolen, you can lock your card.
Two-Factor AuthenticationPrevents unwanted login to your accounts.
Data EncryptionThis prevents unwanted third parties from getting access to your information.
Virtual CardsCapital One customers can set up virtual cards for online shopping to avoid using their real card numbers.

M&T Bank Corporation

Though is on the smaller end of the banks on this list, with only $205 billion in assets as of 2023.[8] However, it's had an impressive track record since its founding over 150 years ago in 1856.

In every quarter since 1976, this NY-based bank has been profitable, and was one of only two U.S. banks in the S&P 500 Index that didn't lower its dividend during the 2007-08 financial crisis.

Operating primarily in eastern states, M&T has over 1,000 branches.

FDIC Insured: Yes

Security FeaturesDescription
Account AlertsM&T will send you transaction alerts to help you spot suspicious activity on your accounts.
Account MonitoringM&T will automatically monitor your account for suspicious activity.
Security QuestionsCustomers can set up personalized security questions to protect access to their accounts.
Data EncryptionM&T employs 256-bit encryption to prevent unwanted third parties from getting access to your information.
Report Suspicious ActivityCustomers can report suspicious activity on their accounts by phone.

AgriBank

As a member of the U.S. Farm Credit System, AgriBank offers wholesale lending to local farm credit associations across 15 states.

It was formed after the merger between Farm Credit Bank of St. Louis and Farm Credit Bank of St. Paul in 1992.

They had over $170 billion in assets in 2023, and AgriBank was ranked number 42 on the list of safest banks from Global Finance in 2023.[9][10]

FDIC Insured: No. Members of the FCS are not insured by the FDIC.

Security FeaturesDescription
Biometric LoginThrough facial recognition, you can prevent unwanted access to your account.
Two-Factor AuthenticationPrevents unwanted login to your accounts.
Data EncryptionThis prevents unwanted third parties from getting access to your information.

What's the Farm Credit System? The Farm Credit System is a network of farming institutions that are owned by and governed by the customers they serve (in other words, cooperatives).

CoBank

CoBank is an agricultural credit bank and a member of the U.S. Farm Credit System, and is based in Greenwood Village, Colorado.

Founded in 1989, this bank largely serves agricultural and farm-related businesses, cooperatives, and rural public utilities. They had $187.6 billion in assets as of 2023.[11]

CoBank was ranked number 51 on the list of safest banks from Global Finance in 2023.

FDIC Insured: No. Members of the FCS are not insured by the FDIC.

Security FeaturesDescription
Two-Factor AuthenticationPrevents unwanted login to your accounts. They also have security questions.
Data EncryptionThis prevents unwanted third parties from getting access to your information.
Positive PayHelps prevent the use of altered or counterfeit checks for those who receive them.
Educational ResourcesCoBank provide a variety of useful educational resources to help customers practice safe banking habits.
Report Unauthorized TransactionsCustomers are able to report any unauthorized transactions by phone.
Fraud WiseThis monthly audio show helps customers learn how to avoid fraud.

AgFirst

AgFirst is another agriculturally focused bank, formed by the merger of the Farm Credit Bank of Baltimore and the Farm Credit Bank of Columbia in 1995.

It's a part of the U.S. Farm Credit System and is based in Columbia, South Carolina. They had $43.4 billion in assets in 2023,[12] and AgFirst was ranked number 54 on the list of safest banks from Global Finance in 2023.

FDIC Insured: No. Members of the FCS are not insured by the FDIC.

Security FeaturesDescription
Two-Factor AuthenticationPrevents unwanted login to your accounts. They also have security questions.
Data EncryptionThis prevents unwanted third parties from getting access to your information.
Security TrainingAgFirst team members are provided with security awareness training.

Farm Credit Bank of Texas

Farm Credit Bank of Texas is the fourth member of the U.S. Farm Credit System, providing wholesale lending and business services in states like Texas, Alabama, and New Mexico.

As of 2023, they had $36.8 billion in assets,[13] and Farm Credit Bank of Texas was ranked number 55 on the list of safest banks from Global Finance in 2023.

FDIC Insured: No. Members of the FCS are not insured by the FDIC.

Security FeaturesDescription
Data EncryptionThis prevents unwanted third parties from getting access to your information.
Report Unauthorized TransactionsCustomers are able to report any unauthorized transactions by email.

How to Know if a Bank Is Safe?

Every bank is going to tell you it's safe. After all, their business depends on having your trust, whether they've earned it or not.

But with a little research, you'll be able to judge for yourself.

Here are some things to look for to help you determine whether they're a good place to keep your money.

  • Size: Choosing a big national bank will almost always be safer than choosing a smaller one. Bigger banks, like Chase, have more resources, more sources of income, larger reserves, and more options to recover from a loss.

    Most big banks are also older and have more experience in dealing with various challenges. And in the case of a financial crisis, since they serve more customers, they're probably more likely to receive government aid than smaller banks.

  • FDIC insurance: A quick indicator that you're dealing with a legitimate bank. FDIC insurance protects the money you've deposited if something happens to the bank. For credit unions, this role is filled by NCUA Insurance, rather than FDIC.
  • Reviews: While it's not a guarantee of quality, you might take some time to see what other customers are saying about the bank before joining. Check out the Better Business Bureau, Trustpilot or similar sites to gauge the reception of the bank.
  • Customer service: Look for banks that are easy to get ahold of at any time of day. Your finances don't operate on a schedule, and they shouldn't make you wait to deal with emergencies. Open lines of communication are a good sign that they're trying to provide good service and not just wring you for every dollar with minimum effort.
  • The Safest Banks List from Global Finance: Global Finance has produced an annual list of the safest banks in the world for the past 30 years. Sadly, not many of them are from the U.S., and those that are don't exactly top the list.
  • Digital security features: The safest banks will employ digital security features like multi-factor authentication, data encryption, timed logout, and fraud notifications. Other valuable security measures that banks can take include:
    • Debit card blocking: This feature lets you remotely disable your debit card in case of fraudulent activity.
    • Guarantee against unauthorized access: The bank agrees to reimburse you for any funds lost to fraudulent activity in your account.
    • EMV chips: The little gold or silver chip you see on the face of most cards. This is safer than swiping, and your bank should offer them on their debit and credit cards.
    • Single-use card numbers: When shopping online, a single-use card number can be the difference between having your info leaked in a future hack or not.

Bottom Line

Finding the right bank for you may seem like a challenging task, but armed with the right information, it doesn't have to be.

Depending on your banking needs, one or more of the banks on this list may be right for you. As some of the safest banks in the U.S., they'll take good care of your money while it's in their custody.

Member FDIC

Chase Total Checking® - $300 Bonus

  • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
  • Access to more than 15,000 Chase ATMs and more than 4,700 branches
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*11 Safest Banks in the U.S. to Deposit Your Hard-Earned Cash (28)

Open an Account

Expires 7/24/2024

Member FDIC

U.S. Bank Smartly® Checking and Standard Savings - Up to $700 Bonus

Earn up to $700 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC.

Earn up to $500 with a new Bank Smartly Checking account. Complete the following within 90 days of account opening:

  • Enroll in online banking or the U.S. Bank Mobile App
  • Make two or more direct deposit(s) totaling $3,000 to $4,999.99 to earn $100, $5,000 to $9,999.99 to earn $300 or $10,000 or more to earn $500

Earn up to $200 with a new Standard Savings account.

  • Make new money deposit(s) totaling $15,000 or more by July 17, 2024
  • Maintain that balance until October 31, 2024

Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.

Learn More

Expires 6/27/2024

References

  1. ^ Financial Stability Board. 2023 List of Global Systemically Important Banks, Retrieved 2/13/2024
  2. ^ JPMorgan Chase & Co. JPMorgan Chase Reports Fourth-Quarter and Full-Year 2023 Financial Results, Retrieved 2/13/2024
  3. ^ U.S. Bancorp. 4Q23 Earnings Conference Call, Retrieved 2/13/2024
  4. ^ PNC Bank. Fourth Quarter 2023 Earnings Conference Call, Retrieved 2/13/2024
  5. ^ Citigroup Inc. Quarterly Financial Data Supplement, Retrieved 2/13/2024
  6. ^ Wells Fargo. Reports Fourth Quarter 2023 Net Income of $3.4 billion, or $0.86 per Diluted Share, Retrieved 2/13/2024
  7. ^ Capital One Financial Corporation. Reports Fourth Quarter 2023 Net Income of $706 million, or $1.67 per share, Retrieved 2/13/2024
  8. ^ M&T Bank Corporation. Announces Fourth Quarter and Full-year 2023 Results, Retrieved 2/13/2024
  9. ^ AgriBank. September 2023 Quarterly Report, Retrieved 2/13/2024
  10. ^ GlobalFinance. World's Safest Banks 2023—Global Top 100, Retrieved 2/13/2024
  11. ^ CoBank. 2023 Quarterly Report, Retrieved 2/13/2024
  12. ^ AgFirst. 2023 Third Quarter Report, Retrieved 2/13/2024
  13. ^ Farm Credit Bank of Texas. Third Quarter Report 2023, Retrieved 2/13/2024

Jeremy Harshman is a creative assistant at CreditDonkey, a bank comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

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11 Safest Banks in the U.S. to Deposit Your Hard-Earned Cash (2024)

FAQs

What is the safest bank to put your money in the USA? ›

Summary: Safest Banks In The U.S. Of September 2024
BankForbes Advisor RatingATM Network
Chase Bank5.015,000+ Chase ATMs
Bank of America4.215,000+ ATMs in the U.S.
Wells Fargo Bank4.011,000
Citi®4.065,000
1 more row
Aug 30, 2024

Which bank is least likely to go bust? ›

The top 10 safest banks in the U.S.
BankThe Ascent's RatingFDIC Insured?
Capital One4.50Yes
American Express® National Bank4.50Yes
Quontic4.50Yes
Chase4.50Yes
6 more rows
Aug 21, 2024

Where is the safest place to deposit cash? ›

Deposit accounts—like savings accounts, CDs, MMAs, and checking accounts—are a safe place to keep money because consumer deposits are insured for up to $250,000, either by the FDIC or NCUA.

Which banks are currently at risk? ›

The banks of greatest concern are Flagstar Bank and Zion Bancorporation, according to the screener. Flagstar Bank reported $113 billion in assets with a total CRE of $51 billion. The bank, however, only had $9.3 billion in total equity, making its total CRE exposure 553% of its total equity.

What is the most financially stable bank in the US? ›

Safest Banks in the U.S.
  • CITIBANK. ...
  • WELLS FARGO. ...
  • CAPITAL ONE. ...
  • M&T BANK CORPORATION. ...
  • AGRIBANK. ...
  • COBANK. ...
  • AGFIRST. ...
  • FARM CREDIT BANK OF TEXAS. Farm Credit Bank of Texas is the fourth member of the U.S. Farm Credit System, providing wholesale lending and business services in states like Texas, Alabama, and New Mexico.
Aug 19, 2024

What bank do millionaires use in USA? ›

Bank of America, Citibank, and HSBC, among others, have created accounts that come with special perquisites for the ultrarich, such as personal bankers, waived fees, and the option of placing trades. The ultrarich are considered to be those with more than $30 million in assets.

Where do millionaires keep their money? ›

Cash equivalents are financial instruments that are almost as liquid as cash and are popular investments for millionaires. Examples of cash equivalents are money market mutual funds, certificates of deposit, commercial paper and Treasury bills. Some millionaires keep their cash in Treasury bills.

Can banks seize your money if the economy fails? ›

Banking regulation has changed over the last 100 years to provide more protection to consumers. You can keep money in a bank account during a recession and it will be safe through FDIC and NCUA deposit insurance.

How much cash can you keep at home legally in the US? ›

There is no legal limit to the amount of cash you can keep at home in the US. However, insurance companies usually limit the amount of cash that you can have insured at home, so keeping large amounts may not be safe or secure.

Which banks are in trouble in 2024? ›

There has only been one bank failure so far in 2024. Republic First Bank (Philadelphia), which did business as Republic Bank, failed April 26. That was the first Federal Deposit Insurance Corp. (FDIC) bank to fail since Citizens Bank of Sac City, Iowa failed in November 2023.

Which banks in America are in trouble? ›

Failed Bank List
Bank NameCityClosing Date
Republic First Bank dba Republic BankPhiladelphiaApril 26, 2024
Citizens BankSac CityNovember 3, 2023
Heartland Tri-State BankElkhartJuly 28, 2023
First Republic BankSan FranciscoMay 1, 2023
6 more rows
Apr 26, 2024

Which bank is most safe and secure? ›

  1. State Bank of India (SBI) The State Bank of India (SBI) is India's largest public sector bank providing an extensive range of banking services. ...
  2. HDFC Bank. ...
  3. ICICI Bank. ...
  4. Punjab National Bank. ...
  5. Bank of Baroda (BoB) ...
  6. Axis Bank. ...
  7. Canara Bank. ...
  8. Union Bank of India.

Which is the No 1 bank of USA? ›

JPMorgan Chase – $3.5 trillion

Columbus, Ohio-based JPMorgan Chase is the largest US bank with total assets of $3.503 trillion. Some $2.684 trillion are domestic assets, accounting for 77% of its total assets. The bank operates 4,912 domestic branches and 32 foreign branches.

What is the least secure bank in the US? ›

Bank of America has the most complaints of any bank in the U.S., and also has more one-star reviews on consumer review websites. Customers consider it one of the banks with worst security and report poor customer service, long wait times, excessive fees, and the bank holding their money for no reason.

What is the best bank to use in the US? ›

Summary of Best Banks 2024
CompanyForbes Advisor RatingProducts
Discover® Bank4.6Savings, Checking, MMAs, CDs
Quontic Bank4.4Savings, Checking, MMAs, CDs
Axos Bank4.3Savings, Checking, MMAs, CDs
Capital One 3604.3Savings, Checking, CDs
1 more row
4 days ago

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