BEST BANKS IN AMERICA
A bank basically acts as a middleman, to ensure that people who need money can borrow it and people who have money can store it safely without any worry. Banks also provide financial services such as money management and its right use, currency exchange if you are out somewhere, and safe deposit. There are different kinds of banks including corporate banks, retail banks, commercial. Banks are the backbone and vital to the health of every nation's economy. So, To make it more convenient to select the best bank we have created a list of the top 10 best banks in America.
- JPMorgan-Chase- it is one of the largest & reputed banks in the country and the sixth-largest in the whole world. Today the company is the result of the 2000 merger of J.P. Morgan and Company and Chase Manhattan Corporation. Services offered by JPMorgan – Chase are like credit cards, financial services, investment advice, and other small business loans.
- Bank of America - abbreviated as BofA, it is the second-largest institution in the US. It’s among one of the world's leading financial institutions serving individual consumers based on their needs, small and middle-market businesses to boost their work, and large corporations. Making it more detail-oriented and reliable.
- Wells Fargo- Talking by the number of branches it has the largest 5,486 out there. It outlines three different business segments Wholesale Banking, Wealth, Community Banking.
- Citibank/Citigroup- Citigroup is the holding company for the divisions such as Citibanamex, Citicorp. With over 200 million customer accounts and businesses in more than 160 countries, Citibank is the third-largest banking institute in the US.
- U.S. Bank – Fifth on the list, U.S. Bank which is part of the U.S. With the headquarters in Minneapolis, the bank mainly operates in the Midwest and West. It has 2,914 domestic branches and counting.
- Capital One- Originally a pure credit card company Capital One is now expanded into a retail banking operation and provides multiple facilities to its customers which includes: checking and savings services, credit cards, auto loans, and home loans.
- TD Bank -It stands for Toronto-Dominion is also the combination of several different banks. Over the years, it has gone by the name Portland Savings Bank and now TD Bank. In 2008, it has acquired Commerce Bank and then merged with Canadian TD Bank north to strengthen its workforce.
- Bank of New York Mellon-it was co-founded in 1784 by the first Secretary of the Treasury, Alexander Hamilton. It is the result of the merging of that firm and T. Mellon and Sons, which was a Pittsburgh institution that financed the steel and fuel industries.
- State Street- This bank started as a shipping financing firm. Providing its customers with unique services that focus on investment management to overseas institutional investors and global banking services.
- Pittsburgh- It is a regional financial institution operating mostly on the East Coast. With 2,381 branches in 18 states and Washington, DC PNC stands for both Pittsburgh National Corporation and Providence National Corporation
Advantages of Banks:
If you are stuck and still wondering whether to open a bank account or not so just to move away from your confusion, we are providing you some of the perks of opening a bank account so that it will help you in making a decision.
- Savings: It builds a habit of setting aside money. There are various types of bank accounts which a customer can choose based on his need. And save according to his or her needs.
- Liquidity: It provides high liquidity especially when you require a ready pool of money for an emergency purpose or some big occasions.
- Identity: It provides an identity or authorized face which is recognized by various government institutions.
- Transparency: The bank transactions are transparent, and you can keep a track of your transactions through online services and from your Passbook. So, the process becomes streamlined.
- Safety: The money and other possessions you keep in a bank account are safe and are well regulated by the management. The Money that is kept in your home or on your person can be lost in a disaster, such as a fire, data loss, or stolen.
- Accessibility: Instead of carrying money with you, having a bank account gives you the option to withdraw that amount of money from a variety of locations using a debit card.
How to choose the best Bank?
Choosing the best bank among the banks could be quite challenging and confusing, so here We’ll take you through some of the considerations that you should keep in mind before choosing the best bank for you.
- Interest rates
- Minimum balance criteria
- Transactions or Service Charges
- Debit card offers
- ATM and branch density