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7 Best Personal Banks in Arizona Ranked & Rated for 2024

7 Best Personal Banks in Arizona Ranked & Rated for 2024

Finding the best personal bank in Arizona is easy because the residents have countless banking options. I’ve compiled a list of the best personal banks in Arizona to make your job easier. Then, you can see what fits your banking needs. 

>> Apply for an Axos Account Today! >>

Best Personal Banks in Arizona

  • Axos – Best Personal Arizona Banks Overall
  • Chime – Best User-Friendly Interface
  • SoFi – Best for Saving Accounts
  • Bank of America – Best for Opening a Checking Account
  • Upgrade – Best for Personal Loans
  • U.S. Bank – Best Customer Service
  • Discover – Best CD Rates

Axos – Best Personal Arizona Banks Overall

Axos Bank stands out as a top banking option in Arizona due to its no-fee, high-yield accounts, fully digital services, and excellent customer support. It offers a variety of loan products, including home and business loans, and caters to small businesses with specialized banking solutions. 

 

Axos combines convenience, security, and transparency. It provides customers with easy access to banking services through a robust mobile platform and fee-free ATMs across the state, making it ideal for Arizona’s personal and business banking needs.

Pros

  • Fee-Free Checking account
  • Unlimited domestic ATM fee reimbursements
  • Competitive interest rates
  • Offers various kinds of loans

Cons

  • No physical branches
  • Depositing cash can be challenging
  • technology -dependent

>> Axos – Top Personal Bank Arizona >>

Chime – Best User-Friendly Interface

Chime’s highly intuitive and easy-to-navigate mobile app makes it an excellent choice for Arizona residents who prefer to manage online banking. Its straightforward design allows users to track spending, manage accounts, and effortlessly access features like early direct deposit. Chime’s focus on simplicity and convenience is ideal for those seeking a digital-first banking experience in Arizona.

Pros

  • Easy-to-use mobile app
  • No overdraft fee
  • No minimum requirement
  • Can easily direct deposit
  • Instant transaction alerts

Cons

  • Technology dependent
  • Cash deposits are only possible through third-party retailers
  • Limited services

>> Apply for a Chime Bank Account Today! >>

SoFi – Best for Saving Accounts

SoFi offers some of Arizona’s best high-yield savings accounts, helping residents grow their savings with competitive interest rates and no fees. With the added benefit of financial planning tools and investment options, SoFi is a great choice for those looking to maximize their savings while accessing a wide range of financial services.

Pros

  • High-yielding savings account
  • No minimum requirement
  • Free financial planning services
  • Offers personal loans

Cons

  • Completely online bank
  • Cash deposits not supported

>> Apply for a SoFi Bank Account Today! >>

Bank of America – Best for Opening a Checking Account

Bank of America’s extensive presence in Arizona, with over 100 branches, ensures easy access to fee-free ATMs and knowledgeable customer service. The bank’s Arizona locations provide a comprehensive range of financial products and services, catering to diverse customer needs.

 

From checking and savings accounts tailored to various financial stages to retirement planning and investment options, Bank of America offers a robust suite of solutions for Arizona residents.

Pros

  • There are various checking account options to choose from
  • Reliable mobile app
  • Offers extensive overdraft protection options
  • Extensive ATM network

Cons

  • No fee-free accounts
  • Customer service isn’t satisfactory
  • Interest rates on savings accounts are lower

>> Apply for a Bank of America Account Today! >>

Upgrade – Best for Personal Loans

Upgrade is an excellent option for Arizona residents seeking personal loans. It offers flexible loan terms, competitive interest rates, and a quick and easy online application process. Whether you need a loan for debt consolidation, home improvement, or other personal needs, Upgrade provides a convenient and transparent lending experience.

Pros

  • Flexible loan amounts and terms
  • Offers budgeting tools
  • Loans are usually approved easily
  • Competitive interest rates compared to other loan providers

Cons

  • Personal Loans only
  • Origination fees may apply depending on the loan type and amount

>> Apply for an Upgrade Bank Account Today! >>

U.S. Bank – Best Customer Service

U.S. Bank is a major financial institution with over 2,000 branches in 26 states, making it a leading choice for banking in the Western U.S. Arizona boasts 49 of these branches, offering convenient access to a wide range of financial services. U.S. Bank is an excellent option if you frequently travel throughout the Western states.

 

U.S. Bank provides a comprehensive suite of financial solutions, from personal and small business banking to credit cards, loans, and wealth management. Its user-friendly mobile app and online banking platform enhance convenience, and it’s a standout choice for earning competitive checking account bonuses.

Pros

  • A large number of ATMs
  • Personalized customer service
  • Various banking products and services
  • Digital banking tools

Cons

  • Low interest rates on savings accounts compared to others
  • The fee structure can be complex for new customers to navigate

>> Apply for a U.S. Bank Account Today! >>

Discover – Best CD Rates

For Arizona residents looking to grow their savings with a fixed deposit, Discover offers some of the best CD rates available. With flexible terms and no account fees, Discover allows residents to lock in competitive interest rates and enjoy steady returns on their savings, making it a top choice for those focused on long-term financial growth.

Pros

  • Highest CD rates
  • No maintenance fee
  • Wide range of CD terms

Cons

  • Not for those who prefer in-person banking
  • Limited banking products

>> Apply for a Discover Bank Account Today! >>

Best Personal Banks in Arizona – Buyer’s Guide

Choosing the Right Bank in Arizona: Key Considerations

When selecting a new bank in Arizona, evaluating various factors that align with your financial needs and preferences is essential. Consider the following key points:

1. Account Offerings

  • Determine your needs: Identify the accounts you require, such as checking, savings, or money market accounts.
  • Compare features: Evaluate the specific features and benefits different banks offer, including interest rates, minimum balances, and fees.

2. Accessibility

  • Branch network: Assess the availability of physical branches in your area if you prefer in-person banking.
  • Online and mobile banking: If you prefer digital interactions, consider the quality and ease of use of online and mobile banking platforms.

3. Fees

  • Review fee schedules: Carefully examine the fees associated with various accounts, including monthly maintenance fees, overdraft charges, and ATM fees.
  • Compare costs: Compare the fee structures of different banks to find the most affordable option.

4. Interest Rates

  • Maximize returns: Research banks that offer competitive interest rates to maximize your earnings for savings accounts.
  • Compare APYs: Compare different banks’ Annual Percentage Yields (APYs) to find the best rates for your savings goals.

5. Customer Service

  • Read reviews: Research customer reviews and testimonials to gauge the bank’s quality of customer service.
  • Consider responsiveness: Evaluate how responsive the bank is to customer inquiries and concerns.

>> Axos – Top Personal Bank Arizona >>

Frequently asked questions

There are around 100 different bank providers with a physical presence in Arizona, including the above-mentioned banks.

 

Remember that most online banks are available nationally, so there’s no need to limit yourself to a local institution. Online banks typically offer added perks like free checking and savings, overdraft protection, and higher savings rates.

Phoenix is one of the biggest cities in the US, so you won’t have trouble finding a bank. There are over 75 different banks in Phoenix.

>> Open an Axos Account Now! >>

Bottom Line

It’s easy to find a good bank in the state of Arizona if you know what you’re looking for. For nationwide access and the widest range of banking options, consider a national bank like Bank of America.

When selecting the best bank in Arizona, you’ll find diverse options to suit your preferences. Consider large regional banks, credit unions, or even online-only banks. Take the time to explore all available options before deciding.

>> Axos – Top Personal Bank Arizona >>

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Written by

Aeron Rupar

Aeron Rupar

Reviewd By

Judith

Judith

Judith Harvey is a seasoned finance editor with over two decades of experience in the financial journalism industry. Her analytical skills and keen insight into market trends quickly made her a sought-after expert in financial reporting.