Looking for the best personal banks in Missouri? You’re in the right place! Whether you’re new to the Show-Me State or just thinking of switching banks, finding a financial institution that aligns with your needs can make all the difference.
From small-town charm to big-city convenience, Missouri offers a variety of banks that cater to everyone, whether you’re after low fees, great customer service, or solid online banking options.
Let’s dive into the top picks to help you make a smart, informed choice for your finances.
>> Open Your Axos Account Today! >>
7 Best Personal Banks in Missouri
Axos – Best Personal Missouri Banks Overall
Axos Bank is recognized for its digital-first banking approach, offering an attractive APY on high-yield savings accounts, freedom from domestic ATM fee reimbursements, and a selection of checking accounts that are free from monthly fees.
Axos also leads in online business banking with its hassle-free cash deposit feature. Account holders can use any Allpoint or MoneyPass ATM for cash deposits at no additional cost and receive automatic reimbursements for any ATM fees incurred within the U.S.
Pros
- Absence of monthly fees and no minimum deposit required
- Unlimited transactions without fees and free incoming wire transfers
- Automatic reimbursement of all domestic ATM fees
Cons
- No APY for the Essential Checking account
- Scarce physical branches
- Lower APY on Money Market and CD accounts compared to other banks
>> Axos – Top Personal Bank Missouri >>
Chime – Best User-Friendly Interface
Chime Bank emerges as a superior choice for personal banking due to its intuitive interface, expansive ATM network, and progressive financial tools. It’s favored by online banking customers for its ability to cater to those who are tech-savvy and seek to avoid traditional banking fees.
Chime’s early direct deposit service allows users to get their paychecks up to two days sooner than at traditional banks, enhancing both convenience and financial flexibility.
Missourians have access to over 60,000 fee-free ATMs via the Allpoint and MoneyPass networks, ensuring easy and free cash withdrawals close to home.
Pros
- No fees for monthly maintenance, overdraft, or foreign transactions
- Early paycheck access, up to two days in advance
- Competitive APY to increase savings growth
Cons
- Entirely online, which might not appeal to some
- Cash deposits require visiting Green Dot locations, which may include a fee
>> Apply for a Chime Bank Account Today! >>
SoFi – Best for Saving Accounts
SoFi stands out with its high-yield savings accounts that offer interest rates well above those of traditional banks, making it a compelling choice for those looking to enhance their savings efficiently.
Beyond standard banking services, SoFi enriches its customer experience with a suite of exclusive benefits such as career coaching, financial planning, and special member-only events, providing valuable tools and support for achieving personal and professional ambitions.
Pros
- Competitive interest rates on savings accounts to promote faster savings growth
- No monthly maintenance, overdraft, or minimum balance fees
- Diverse financial product offerings, including mortgages, personal loans, and investment opportunities
Cons
- Mainly operates online, which might not be preferred by everyone
- Cash deposits are less straightforward than at traditional banks
- While customer service is typically effective, the absence of face-to-face interactions may be felt in handling intricate issues
>> Visit SoFi Bank Account Today! >>
Bank of America – Best for Opening a Checking Account
Bank of America (BofA) offers robust personal banking options in Missouri as one of the United States’ most extensive and established banks. It caters to an array of customer banking preferences and needs.
For individuals who prefer traditional over online banking, Bank of America provides a wealth of resources.
Missourians benefit from the convenience and reach of a national bank, with nearly 200 branches across the state, facilitating easy access to ATMs and on-the-spot customer service.
Though the savings APYs may not be as high as those from online banks, BofA offers a plethora of other financial products, including credit cards, residential and automotive loans, and investment options through Merrill.
Pros
- Extensive network of branches and ATMs across Missouri
- A wide array of banking products, including accounts, credit cards, loans, and investments
- User-friendly online and mobile banking with top-tier security features
Cons
- Monthly account maintenance fees unless specific requirements are met
- Savings and CD rates are lower compared to online banks
- Potential accumulation of various service fee
>> Apply for a Bank of America Account Today! >>
Upgrade – Best for Personal Loans
Upgrade has gained recognition as a preferred personal banking provider by merging advanced digital banking services with features that meet the needs of modern consumers.
Its high-yield savings account is particularly notable, providing interest rates substantially above those offered by traditional banks, which is ideal for individuals focused on efficient savings growth.
Upgrade’s commitment to customer service adds to its appeal, with a strong emphasis on outstanding support across multiple contact points to ensure easy access to help. The bank’s straightforward presentation of its financial products also allows customers to comprehend terms, avoiding any hidden fees or complicated contracts.
In Missouri, as a personal banking option offering high savings yields, easy access to credit products, and exemplary customer service, Upgrade stands out as a modern solution for contemporary financial requirements.
Pros
- Competitive interest rates on savings accounts for enhanced savings growth
- No monthly maintenance fees or minimum balance demands
- An array of financial products, including personal loans and the unique Upgrade Card, blending the functionalities of a personal loan and a credit card
Cons
- Mainly online, which might deter traditional banking clients
- The lack of an ATM network for cash deposits presents a challenge for cash handling
>> Apply for an Upgrade Bank Account Today! >>
U.S. Bank – Best Customer Service
U.S. Bank has consistently excelled in customer satisfaction, topping the J.D. Power Customer Satisfaction rankings for three years. It’s known for its minimal monthly fees among large national banks, easily waived by customers. Its digital banking tools, including a mobile app ranked as the best by Keynova Group for three consecutive years, enhance the banking experience.
In the 2017 J.D. Power U.S. Retail Banking Satisfaction Study, U.S. Bank secured the second rank, praised for its effective customer issue resolution, easy access to branches, competitive fee structures, and diverse offerings. This speaks volumes about the bank’s focus on customer service.
U.S. Bank’s broad financial product range, including basic savings and checking accounts, money market accounts, credit cards, and various loan types, offers something for everyone.
Pros
- No monthly service charges for the Silver Business Checking account
- Welcome bonus for newcomers (terms and conditions apply)
- Over 4,700 U.S. Bank ATMs and 2,900 branches nationwide without fees
- No overdraft fees for minor overdrafts of $50 or less
Cons
- Restricted cash deposit limits
- Terms and fees aren’t clearly listed on the website
- Limit of 125 fee-free transactions monthly
>> Apply for a U.S. Bank Account Today! >>
Discover Bank is a favored choice for personal banking in Missouri, especially appealing to those who prioritize online banking convenience and high interest rates. Its high-yield savings account offers interest rates significantly above the national average, attracting individuals keen on boosting their savings.
Additionally, Discover’s Certificates of Deposit (CDs) provide competitive interest rates, granting customers the opportunity to secure higher earnings for specific periods. These features make Discover stand out from traditional banking options.
Pros
- Competitive interest rates on savings accounts exceed the national average, enhancing the growth of your savings more rapidly
- No monthly maintenance fees, overdraft fees, or minimum balance requirements make financial management straightforward and cost-effective
- High returns on CDs for fixed periods support effective long-term savings planning
Cons
- Discover operates almost exclusively online, which may not be ideal for those who prefer brick-and-mortar banking
- The lack of an ATM network specifically for cash deposits can complicate the deposit process
>> Apply for a Discover Bank Account Today! >>
Best Personal Banks in Missouri – Buyers Guide
Tips on Banking in Missouri
Banking in Missouri offers a unique experience influenced by the state’s diverse economy, including strong agriculture, manufacturing, and services sectors. Here are some key tips to help you navigate the banking landscape in Missouri:
1. Explore Local and Regional Banks: Missouri is home to a variety of local and regional banks that provide personalized service and competitive rates.
These institutions often have a deep understanding of the local economy and can offer financial products tailored to the specific needs of Missourians, whether you’re looking for agricultural loans, small business financing, or personal banking services.
2. Agricultural Banking Services: Given Missouri’s significant agricultural industry, many banks in the state offer specialized services for farmers and agribusinesses.
If you’re involved in agriculture, consider working with a bank that has experience in this sector. They can provide loans, lines of credit, and financial advice tailored to the cyclical nature of farming.
3. Consider Credit Unions: Credit unions in Missouri can be an excellent option for those seeking lower fees and higher savings rates.
These member-owned institutions often provide a more community-focused approach to banking, with a range of products from auto loans to home mortgages. Because they’re not-for-profit, they typically offer better rates and lower fees than traditional banks.
4. Leverage Digital Banking Options: Missouri residents have access to a growing number of digital banking options. These online banks often provide lower fees, higher interest rates on savings accounts, and convenient mobile banking features.
However, as with any digital banking option, ensure the institution is FDIC-insured for your protection.
5. Real Estate Financing: Missouri’s real estate market is diverse, with opportunities ranging from urban properties in cities like St. Louis and Kansas City to rural land.
When seeking real estate financing, it’s helpful to work with a lender familiar with local market conditions. Missouri banks often offer competitive mortgage rates and can provide insights into the state’s property trends.
6. Be Aware of Missouri’s Banking Regulations: Missouri has specific banking regulations that protect consumers, enforced by the Missouri Division of Finance. Staying informed about these regulations can help you make safer banking decisions. Additionally, Missouri’s laws provide strong protections for consumers in areas like mortgage lending and credit reporting.
7. Take Advantage of Local Economic Development Programs: Missouri offers various economic development programs that can benefit small businesses and entrepreneurs. Many local banks collaborate with these programs to provide favorable loan terms and financial support.
If you’re starting or expanding a business in Missouri, consider partnering with a bank that participates in these programs.
By understanding the strengths of local financial institutions, tapping into specialized services, and staying informed about state-specific regulations, you can effectively navigate the banking landscape in Missouri and make the most of the financial opportunities available.
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How to Choose the Right Bank in Missouri
When choosing the right bank in Missouri, several factors must be considered to ensure that the bank you select meets your financial needs and preferences. Here’s a guide to help you make an informed decision:
1. Understand Your Banking Needs
- Personal vs. Business Banking: Determine whether you need a bank for personal or business purposes. Some banks specialize in one more than the other, while others offer a comprehensive suite of services.
- Type of Accounts: Identify the types of accounts you require, such as checking, savings, or investment accounts. If you need specialized accounts like health savings accounts (HSAs) or Certificates of Deposit (CDs), make sure the bank offers them.
- Loan Products: If you anticipate needing a mortgage, auto loan, or personal loan, research banks that offer competitive rates and terms.
2. Evaluate Fees and Charges
- Account Maintenance Fees: Look for banks that offer low or no monthly maintenance fees, especially if you plan to maintain a modest balance.
- ATM Fees: Consider banks with a large network of ATMs in Missouri or those that offer reimbursement for out-of-network ATM fees.
- Overdraft Fees: Check the overdraft policies and fees, especially if you think you might occasionally overdraw your account.
3. Accessibility and Convenience
- Branch and ATM Locations: Ensure that the bank has convenient branch locations and ATMs near your home, workplace, or frequently visited areas.
- Online and Mobile Banking: Evaluate the bank’s digital offerings, including mobile app functionality, online bill pay, mobile check deposit, and account management tools.
4. Customer Service and Support
- Customer Service Options: Look for banks that offer multiple ways to access customer service, such as phone, chat, and in-person support. Consider the quality and availability of customer service.
- Bank Reputation: Research the bank’s reputation for customer service, financial stability, and overall satisfaction. Customer reviews and ratings can provide insight into the bank’s reliability.
5. Interest Rates and Financial Products
- Savings and CD Rates: Compare interest rates on savings accounts and CDs to find the most competitive options for growing your savings.
- Loan and Mortgage Rates: If you’re considering borrowing, look at the bank’s rates on mortgages, auto loans, and personal loans.
6. Specialized Services
- Small Business Banking: If you own a small business, look for banks in Missouri that offer tailored services like business checking, merchant services, and small business loans.
- Student Banking: For students, some banks offer low-fee accounts or special benefits tailored to younger customers.
7. Consider Credit Unions
- Local Credit Unions: In Missouri, credit unions can be a great alternative to traditional banks, offering competitive rates, lower fees, and a community-focused approach. However, ensure they have the services and digital offerings you need.
8. Check for Promotions and Bonuses
- Sign-Up Bonuses: Some banks offer cash bonuses for opening a new account and meeting certain criteria, such as direct deposit or maintaining a minimum balance.
- Loyalty Programs: Consider banks that reward loyalty with perks like reduced fees, higher interest rates, or points that can be redeemed for travel, merchandise, or cashback.
9. Local and Regional Banks
- Community Banks: Missouri has several community banks that focus on serving local residents and businesses. These banks may offer more personalized service and a deeper understanding of local needs.
- Regional Banks: Regional banks can offer a balance between the personalized service of a community bank and the broader resources of a national bank.
10. Consider the Bank’s Stability
- Financial Health: Check the bank’s financial health through agency ratings and ensure your deposits are insured by the FDIC.
>> Try Axos Bank Today >>
Frequently asked questions
Missouri offers a wide range of banking options that cater to different financial needs. Some of the best personal banks in the state include:
- Axos Bank: An online bank that offers high-interest savings accounts and low-fee checking accounts, perfect for tech-savvy users
- Chime: A fully online bank known for its fee-free banking services, early direct deposit, and automatic savings features
- Bank of America: Known for its nationwide presence, comprehensive services, and robust online banking platform
- U.S. Bank: Offers a strong regional presence with extensive branch and ATM networks, along with competitive account options
Yes, online-only banks like Axos Bank and Chime are highly recommended in Missouri. These banks offer competitive interest rates, low fees, and advanced online banking platforms. Since they have no physical branches, they often pass the savings on to customers through better rates and lower fees.
Some of the best checking accounts in Missouri can be found at:
- U.S. Bank: Offers a variety of checking account options with features like no-fee transactions at U.S. Bank ATMs and access to online and mobile banking
- Bank of America: Provides several checking account choices, including options that waive fees with qualifying direct deposits or minimum balances
- Chime: Offers a fee-free checking account with features like early direct deposit and automatic savings
To avoid fees, consider the following strategies:
- Maintain minimum balances: Some banks waive monthly maintenance fees if you keep a certain balance in your account
- Set up direct deposit: Banks like Bank of America and U.S. Bank may waive fees if you have regular direct deposits
- Use in-network ATMs: Avoid out-of-network ATM fees by using ATMs that belong to your bank’s network or choosing banks like Chime that offer fee-free withdrawals at numerous locations
- Opt for online banks: Online banks like Axos Bank often have fewer fees since they don’t have the overhead costs of maintaining physical branches
The best savings accounts in Missouri are offered by:
- Axos Bank: Known for its high-yield savings accounts with competitive interest rates and no monthly fees
- U.S. Bank: Offers various savings account options with features like automatic transfers and interest-bearing accounts
- Chime: Features a savings account with automatic savings tools and no fees, making it easy to grow your savings over time
>> Open an Axos Account Today! >>
Bottom Line
When it comes down to choosing the best personal bank in Missouri, your decision should reflect your unique financial needs and lifestyle. Whether you prioritize customer service, low fees, or a user-friendly online platform, there’s a bank in Missouri that fits the bill.
Take the time to weigh your options, consider what matters most to you, and make a choice that will support your financial goals both now and in the future. Your perfect banking partner is out there just waiting for you to discover it.
>> Axos – Top Personal Banking Services in Missouri >>
Aeron Rupar
