10 biggest banks in America

Young woman on a city street, looking up at big bank buildings around her.Image: Young woman on a city street, looking up at big bank buildings around her.

Big banks often have a large nationwide reach and, as a result, have a large amount of assets under management.

These banks typically have brick-and-mortar locations, ATM options, varied financial services and products, and other features.

We’re going to examine the 10 biggest banks in America, all of which have more than $300 million worth of assets, to better understand what kind of banking services they offer and what makes them stand out.



10 biggest banks in America

Big banking has a lot to offer its customers, but what makes each bank unique? Let’s dive deeper into the ten biggest banks in America and how each bank stands out.

Chase Bank: $3.38 trillion in assets

Chase Bank makes it easy to manage your financial life all in one place, offering checking and savings accounts, auto and home loans, credit cards, investment services and more. Chase Bank is a popular choice with many people, serving nearly half of U.S. households in some way.

Chase offers a wide array of digital banking services that make it possible to manage your account online by viewing statements, monitoring account activity, transferring money, and paying bills.

Learn about Chase’s checking account.

Bank of America: $2.44 trillion in assets

Similar to Chase Bank, Bank of America offers various checking, savings, investment and loan products.

People who value in-person banking services will likely appreciate that Bank of America has 4,000 brick-and-mortar financial centers and around 16,000 ATMs. With a wide selection of credit card options, there’s also a good chance you can find a Bank of America credit card that can meet your needs.

Learn about Bank of America’s checking account.

Citibank: $1.72 trillion in assets

From personal banking to small-business banking, you have options for how to protect and grow your money with Citibank. Citi offers checking and savings services, such as certificates of deposit, or CDs, and a variety of investment services. You can choose to manage your investments on your own, use a robo-advisor or work with a professional investment advisor.

Wells Fargo: $1.71 trillion in assets

With more than 12,000 ATMs and about 4,900 retail banking branches spread across the nation, Wells Fargo is another good banking option for people who prefer to have access to in-person banking services. For people who like to do some or all of their banking online, Wells Fargo offers online banking services, and it has a mobile app that makes it easy to check in on your account, transfer funds and pay bills.

U.S. Bank: $582 billion in assets

Alongside offering in-person banking services such as checking and savings accounts, loans, credit cards and investing services, U.S. Bank also has a robust digital presence. U.S. Bank makes staying organized easy by allowing you to store e-statements, tax documents, and other letters and notices in your online account, which you can view on a desktop computer or via a mobile app. Learn more about U.S. Bank’s checking account.

PNC: $534 billion in assets

You can expect to find most, if not all, of your traditional banking services with PNC, as well as a solid amount of loan options. PNC offers mortgage, auto and student loans, alongside home equity lines of credit. It even offers student loan refinancing.

PNC’s Virtual Wallet product also makes it easy to digitally manage your checking and savings accounts. Plus, you can potentially earn a bonus when you open a new bank account.

Truist: $532 billion in assets

The big selling point for Truist is the $100 Negative Balance Buffer, which protects qualifying customers from overdrafting their accounts up to $100 over — and Truist doesn’t charge overdraft fees. The bank also provides five different ways to waive monthly maintenance fees. This makes Truist a great option for someone wanting something similar to a free checking account.

Marcus by Goldman Sachs: $501 billion in assets

For people who are wary of the many new online-only banks popping up these days, Marcus by Goldman Sachs steps in to offer online banking backed by more than 150 years of experience. Marcus by Goldman Sachs passes overhead savings onto customers in the form of higher-than-average interest rates on savings products.

TD Bank: $405 billion in assets

If you’re looking to open a bank account, TD Bank often offers a bonus for new customers who set up and receive a qualifying direct deposit — which can be a nice perk. While TD Bank does have brick and mortar locations, it encourages customers to lean into digital and mobile banking. It also offers a variety of informational resources and tutorials to help you get the hang of online banking.

Capital One: $388 billion in assets

Between no account minimums or account fees and more than 70,000 fee-free ATMs, Capital One is working hard to attract people who are tired of spending more to access and maintain banking services. It’s another major bank that hasn’t been afraid to enter the digital space by offering a mobile app that provides 24/7 access to your account.

Big banks: Pros and cons

There are both advantages and disadvantages associated with choosing a big bank to tackle your checking and savings needs. Let’s look at the pros and cons, so you can decide if a big bank or small bank would better suit your needs.

Pros of using a big bank

There are many benefits to having an account with a big bank.

  • More widely available — Many large banks have branches nationwide, which can give you easier access to in-person banking services and ATMs.
  • More products and services — If you’re looking to manage your financial life all in one place, including checking, saving, loans and credit cards, then you may find that a large bank can give you access to all of the financial products and services that you need.
  • Advanced tech features — If you want access to high-tech features like mobile banking, being able to deposit checks from your phone and e-transfers, then you’re more likely to find what you’re looking for at a larger bank.

Cons of using a big bank

Of course, there are also some disadvantages associated with mobile banking.

  • Higher fees — Credit unions and online banks, both of which are usually smaller than big banks, tend to have lower fees. Online banks have lower fees because they lack expensive brick-and-mortar locations. Credit unions are often member owned and charge less in order to pass savings on to their customers.
  • Less-intimate relationships — Smaller local banks often value customer relationships more than big banks and because of this, they can have more lenient lending requirements and other relaxed banking requirements for the people who have a strong history with them.

What’s next?

If you’re looking for a new bank but aren’t sure which one is the right fit for you, you can ask yourself the following questions about each bank you’re considering to get a better idea of whether or not it’s a good fit.

  • Is it insured? You want to make sure your money is safe and sound by choosing to bank with a bank insured by the Federal Deposit Insurance Corporation or a credit union insured by the National Credit Union Administration. FDIC and NCUA insurance protect up to $250,000 per depositor so that even if your bank goes out of business, you won’t lose your money. Most banks and credit unions are insured, especially big ones, but it doesn’t hurt to double check.
  • Does it have the products and services that I need? If you’re looking for services that extend past basic, make a list of what you’re looking for (loans, credit cards, automatic bill pay, etc.) and confirm whether each bank you’re considering has those features.
  • What fees does it charge? Some banks charge monthly maintenance fees, wire transfer fees, overdraft fees, statement fees, out of-network ATM fees, stop payment fees, returned check fees, cashier’s check fees and certified check fees. The amount each bank charges for fees can also vary.

Take your time looking for the right bank to make sure it can provide you with services you need at a price that works for your budget.


About the author: Jacqueline DeMarco is a freelance writer based in southern California who graduated from the University of California Irvine with a degree in literary journalism. She writes about a wide range of topics, including fin… Read more.