Largest Banks In The USA

Want to know the top financial giants in the United States? We’re, of course, talking about the largest banks in the USA! Continue reading if you’re curious about the power the US market holds. Explore the top players in the American banking landscape! Dive into the world of finance to uncover the largest banks in the USA. From coast to coast, these financial giants impact millions of lives. Join us as we unravel their stories and discover what sets them apart.

Summary of the Largest banks in the US

The 15 largest banks in the US

1. JPMorgan Chase

Assets: $3.39 trillion
Headquarters: New York
Average percentage yield: 0.01%
Minimum deposit to open: $25 

By focusing on tech-savvy customers and using artificial intelligence (AI) in its services, JPMorgan Chase is doing better than other top banks in USA. They're aiming for the long haul, attracting millennials online with plans to turn them into more valuable customers over time. This biggest bank in USA, part of JPMorgan Chase, caters to regular people's banking needs. With over 4,700 branches and 16,000 ATMs nationwide, it's easily accessible. Across all 48 continental U.S. states, Chase has branches, making it the bank with the most extensive branches and major banks in the USA.

Website: https://www.jpmorganchase.com/
Advantages of this Largest Banks in USA:

• Variety of account options for comprehensive financial management.
• Branches in 48 states offer wider retail accessibility.
• Family-friendly with free account choices for kids and college-goers.

2. Bank of America

Assets: $2.47 trillion
Headquarters: Charlotte, North Carolina
Average percentage yield: 0.01%
Minimum deposit to open: $100

Bank of America helps around 68 million regular people and small businesses worldwide. This biggest bank in USA provides strong digital tools, including a handy mobile app. This major banks in USA in it’s early 2022, Bank of America got rid of its insufficient funds (NSF) fee and lowered its overdraft fee, which is something many other banks are doing, too. Besides regular banking, Bank of America also provides investment and wealth management services through Merrill (previously known as Merrill Lynch). It's great for people who prefer having a banking relationship, especially if they qualify for the Preferred Rewards Program, which offers extra benefits.

Website: https://www.bankofamerica.com/
Advantages of this Largest Banks in USA:

• Preferred Rewards program offers tiered benefits and discounts.
• Merrill division provides access to a vast network of financial advisors.
• Easy access to financial education, online savings programs, and budget tracking tools on the bank's website.

3. Wells Fargo

Assets: $1.70 trillion
Headquarters: San Francisco‍

Average percentage yield: 0.25%
Minimum deposit to open: $25

Wells Fargo started back in 1852 and today is considered one of the biggest banks in the USA. Besides its regular app, they've made a savings app and a mobile banking app just for millennials. They've changed their branding and are working hard to mend their rocky relationship with customers after some mistakes.

Website: https://www.wellsfargo.com/
Advantages of this Largest Banks in USA:

• With over 4,500 branches, it has the biggest retail presence.
• Provides options for DIY investing or accessing financial advisors.
• Offers various personal banking accounts, loans, and credit cards, ideal for customers seeking all-in-one financial management.

4. Citibank

Assets: $1.66 trillion
Headquarters: New York
Average percentage yield: 0.03%
Minimum deposit to open:$0

Citigroup is a big finance company worldwide and is counted in one of the biggest US banks. They have around 673 places for regular banking in the U.S. and over 1,800 branches in other countries. Plus, in the U.S., you can use over 65,000 ATMs without fees.

Website: https://www.citigroup.com/citi/
Advantages of this Largest Banks in USA:

• Operates globally in over 150 countries.
• Offers competitive CD yields compared to other big banks.
• Citibank checking accounts provide access to a large, fee-free ATM network with over 60,000 locations in the U.S.

5. U.S. Bank

Assets: $657.2 billion
Headquarters: Minneapolis
Average percentage yield: 0.01%
Minimum deposit to open: $25

U.S. Bancorp owns U.S. Bank, and this bank makes it to the list of the biggest banks in the USA. It started in 1863 as the First National Bank of Cincinnati and has grown to become the fifth-largest bank in USA by assets. Over time, mergers shaped it into the bank we see today, known for lots of branches and efforts to improve digital services.

Website: https://www.usbank.com/index.html
Advantages of this Largest Banks in USA:

• Strong presence in the Midwest and West with 2,000+ branches.
• Provides checking accounts with low or no fees, featuring perks such as the Smart Rewards program and the chance to earn interest.

6. Truist Bank

Assets: $535 billion
Headquarters: Charlotte, North Carolina
Average percentage yield: 0.01%
Minimum deposit to open: $50

Truist is the result of BB&T and SunTrust merging. This major bank in US serves around 12 million households as of 2020. BB&T and SunTrust were already big, ranked 11th and 12th by assets in 2019. Now combined, they're a top-10 bank with a history of about 275 years between them.

Website: https://www.truist.com/Advantages of this Largest Banks in USA:

• Strong presence in the South, Mid-Atlantic, and Midwest with 2,000+ retail locations.
• A checking account offers perks like no overdraft fees, low or no monthly fees, free personal checks, and a negative balance buffer.

7. PNC Bank

Assets: $553.1 billion
Headquarters: Pittsburgh
Average percentage yield: 4.65%
Minimum deposit to open: $0

PNC Bank is one of the largest banks in the USA, known for its special perks and unique products and services that cater to customers. PNC started as Pittsburgh Trust and Savings Co. in 1852, which doubled its size. Now, it has about 2,570 places across 28 states and Washington, D.C. They agreed to buy BBVA USA for $11.6 billion in November 2020, and the deal was finalised on June 1, 2021.

Website: https://www.pnc.com/en/personal-banking.htmlAdvantages of this Largest Banks in USA:

• Virtual wallet earns interest on combined checking and savings.
• Banking accounts come with built-in budgeting tools.
• Multiple sign-up bonus options are available.

8. Goldman Sachs Bank

Assets: $538.1 billion
Headquarters: New York
Average percentage yield: 4.5%
Minimum deposit to open: $0

Goldman Sachs is a big company that deals with investments, banking, and securities around the world. This organisation makes the list of the biggest banks in the usa as it offers lots of financial services to its clients, including banking through Marcus, their online banking part, which started in 2016 and now offers personal loans too.

Website: https://www.goldmansachs.com/
Advantages of this Largest Banks in USA:

• Offers extensive investment options for both business and personal banking.
• Provides competitive rates for high-yield savings accounts and CDs.

9. Capital One

Assets: $468.8 billion
Headquarters: McLean, Virginia
Average percentage yield: 4.35%
Minimum deposit to open: $50

Capital One, a big company listed in the Fortune 500, owns Capital One Bank. They have branches along the East Coast and in Texas and Louisiana and are considered the biggest banks in the USA list. Some cities have Capital One Cafés, where you can enjoy free Wi-Fi, open accounts, and join financial workshops. In 2024, Capital One won the Bankrate Awards for best big bank.

Website: https://www.capitalone.com/
Advantages of this Largest Banks in USA:

• Provides a user-friendly mobile app with advanced features.
• Offers a wide selection of no-fee credit cards.

10. TD Bank

Assets: $366.3 billion
Headquarters: Cherry Hill, New Jersey
Average percentage yield: 0.05%
Minimum deposit to open: $0

TD Group Holdings is the American part of Canada's TD Bank Group. They offer mortgages, deposit accounts, credit cards, and services for small businesses. With over 1,100 branches on the East Coast, they give access to about 2,600 branches overall.

Website: https://www.td.com/us/en/personal-banking
Advantages of this Largest Banks in USA:

• Specialises in cross-border banking between the U.S. and Canada.
• TD MySpend app aids in tracking spending and saving habits.

11. Bank of New York Mellon

Assets: $328.5 billion
Headquarters: New York

Back in 1792, when the New York Stock Exchange began, the Bank of New York was the first stock traded. Now, Bank of New York Mellon is an investment company serving various corporations, institutions, and regular investors. They also offer private banking for wealthy clients.

Website: https://www.bnymellon.com/
Advantages of this Largest Banks in USA:

• You’ll receive great customer services 
• You’ll get amazing consulting for any of your real-time payment need

12. State Street

Assets: $280.5 billion
Headquarters: Boston

State Street Corp. started way back in 1792. It's a big company dealing with financial services and managing assets, with around 40,000 workers worldwide and operations in over 100 places. They offer services like investment research, trading, and managing investments for clients like insurance companies, pension funds, and asset owners.

Website: https://www.statestreet.com/gb/en/asset-manager
Advantages of this Largest Banks in USA:

• Offer solutions tailored just for you to make informed investment decisions
• You’ll get daily cash and trade information alerts, reports, views and queries

13. BMO

Assets: $260.8 billion
‍Headquarters: Chicago
Average percentage yield: 3.56%
Minimum deposit to open: $25

BMO is a North American bank with the purpose of boldly growing the good in business and life. BMO has over 500 branches in the U.S., spread across states like Arizona, Illinois, Florida, Indiana, Kansas, Missouri, Minnesota, and Wisconsin. As the 8th largest bank in America, they provide you personal and commercial banking, global markets and investment banking services.

Website: https://www.bmogam.com/
Advantages of this Largest Banks in USA:

• BMO offers a complete range of personal banking services.
• Customers can use over 40,000 fee-free ATMs across the country.
• The bank operates globally.

14. Citizens Financial

Assets: $225 billion
Headquarters: Providence, Rhode Island
Average percentage yield: Up to 4.50%
Minimum deposit to open: $0

Citizens provide various banking services for regular folks, small businesses, and bigger companies. They've got about 1,200 branches spread across 14 states, with around 3,300 ATMs available to customers. In February 2022, they finalised acquiring HSBC branches, including their online accounts.

Website: https://www.citizensbank.com/homepage.aspx
Advantages of this Largest Banks in USA:

• Citizens have about 1,100 branches and 3,400 ATMs.
• Early direct deposit is available with Citizens checking accounts.
• Their compact discs offer competitive yields.
• Overdrafts of $5 or less incur no fees.

15. First Citizens Bank

Assets: $213.6 billion
Headquarters: Raleigh, North Carolina
Average percentage yield: 0.15%
Minimum deposit to open: $50

First Citizens Bank has been around for 125 years. In early 2022, Commercial Investment Trust Bank joined forces with First Citizens Bank. By the end of 2021, CIT Bank was ranked 48th among U.S. banks in terms of assets, while First Citizens held the 40th position.

Website: https://www.firstcitizens.com/
‍Advantages of this Largest Banks in USA:

• Free checking accounts are available, along with interest-earning accounts offering perks.
• CDs offer various terms, including speciality options.

Now that you know the top banks in the USA, take a call and decide for yourself which largest bank in the USA suits your needs the most. We wish you luck!