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 a large bank with 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.

Bank Of America

Bank of America is a national bank with 100 branches in 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 deposit of $100 to get started and offers 0.01% AYP. ..

There are three types of deposit accounts with Bank of America: the Advantage SafeBalance account, the Advantage Plus account, and the Advantage Relationship account. The Advantage SafeBalance account has a monthly maintenance fee of $4.95, which is subject to a waiver. The Advantage Plus account has a monthly waivable fee of $12 and more features than the first. The third type, the Advantage Relationship account, is designed for those with higher balances.

First National Bank Of Texas

First National Bank of Texas is a bank in Texas that allows for free savings accounts 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 called the Teen Savings Account which allows children and teenagers to save up to $5 per month in their account without having to pay any monthly fees.

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 for having 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 has 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. ..

To open an account in a bank, you will need to provide your name, address, and other required information.

You will need a government ID and a social security number to open a bank account. ..

Yes, there are online banks in Arizona State. Some of the most popular online banks in Arizona State include American Express, Chase, and Wells Fargo.

Yes, there are several banks that offer student loans. CIT Bank is one of them. ..