Seven Best Banks in California
Chase
Chase is a large bank with 400 branches in California. It has an average yearly progress (AYP) of 0.01% and a monthly maintenance fee of $25. However, Chase can be waived with a balance of $1,500 at the end of four weeks or a direct deposit of $500.
Bank of America
Bank of America is a national bank with 469 branches in California. The bank offers services through its subsidiary institution, Merrill Edge, which helps customers handle their car loans, mortgage, and investments. Bank of America deducts a monthly maintenance fee of 25$, which can be waved with a balance of $10,000 from mixed accounts. Merrill Edge’s 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. They offer multiple options of savings or deposit accounts for different reasons, including teens, retirement, and certificates of deposit. Wells Fargo also operates online through their mobile app. 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 is a bank that 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 Bank of the West 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 a popular U.S. bank with 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
Union Bank offers a 0.01% APY on checking accounts, which is flexible to increase by 0.25% if you can maintain 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. However, you can waive the monthly fee if you can keep a balance of $25,000 at the end of the month. Union Bank has multiple ATM locations making withdrawal easy for customers. ..
Conclusion
The article discusses the best banks in California, and how these banks are different from other banks in the state. The best banks in California are those that have a good reputation and offer a variety of services.
There are a few online banks in California, but they vary in terms of their services and prices. Some of the more popular online banks in California are HSBC, Wells Fargo, and American Express.
Yes, CIT Bank is one of the banks that have been identified as being in violation of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
