North Carolina boasts a diverse range of personal banking options, catering to the financial needs of its residents with a blend of traditional customer service and cutting-edge digital solutions. From major national banks to community-focused institutions, the state offers a variety of choices for personal banking.
Whether you’re seeking competitive interest rates, robust mobile banking features, or personalized financial advice, North Carolina’s banks are equipped to provide services that meet the evolving demands of modern banking.
This article explores the best personal banks in North Carolina, highlighting their unique offerings and customer-centric approaches.
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Best Personal Banks in North Carolina
- Axos – Best Personal North Carolina 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 North Carolina Banks Overall
North Carolina’s Axos Bank excels with its digital-first banking strategy, earning it the title of best overall. It provides a competitive APY on high-yield savings accounts, along with easy access and complimentary domestic ATM fee reimbursements for multiple checking accounts without the burden of monthly fees.
Axos is distinguished among online business banks for its straightforward approach to cash deposits. Business owners can use any compatible Allpoint or MoneyPass ATM to make deposits free of extra charges. Additionally, Axos automatically refunds any ATM fees charged within the U.S.
Pros
- No monthly maintenance fees or minimum deposit requirements
- Unlimited transactions without fees and no charge for incoming wires
- Automatic reimbursement for any domestic ATM fees
Cons
- Absence of APY on Essential Checking accounts
- Few physical branches are available
- Lower APYs on Money Market and CD accounts compared to competitors
>> Axos – Top Personal Bank North Carolina >>
Chime – Best User-Friendly Interface
For those in North Carolina, Chime Bank offers an excellent solution for personal banking, featuring easy-to-use tools, a comprehensive ATM network, and innovative financial resources. As a favored option among online banks, Chime Bank appeals to those who are technologically inclined and prefer to avoid traditional banking fees.
Chime’s feature of early direct deposit allows customers to get their paychecks up to two days sooner than they would with standard banks, enhancing their financial flexibility. Chime also provides access to over 60,000 ATMs without fees across the Allpoint and MoneyPass networks, ensuring that residents of North Carolina can conveniently withdraw cash without facing additional charges.
Pros
- No fees for monthly maintenance, overdrafts, or foreign transactions
- Ability to access your paycheck up to two days early
- Competitive APY for accelerated savings accumulation
Cons
- Fully online, which may not be suitable for everyone
- Requires cash deposits at Green Dot locations, which might include fees
>> Apply for a Chime Bank Account Today! >>
SoFi – Best for Saving Accounts
A key advantage of SoFi for North Carolinians is its high-yield savings accounts. SoFi’s competitive rates often exceed those of conventional banks, which is particularly beneficial for individuals in North Carolina aiming to enhance their savings growth. This feature enables users to expedite their financial objectives efficiently.
SoFi distinguishes itself from traditional banks by offering a variety of member benefits designed to bolster the financial wellness of its users. These benefits encompass career coaching, financial planning services, and access to exclusive events. North Carolina residents who become SoFi members can tap into valuable tools and support that aid in achieving personal and professional aspirations.
Pros
- Provides competitive interest rates on savings accounts, facilitating quicker savings accumulation
- No maintenance fees, overdraft fees, or requirements for a minimum balance
- A broad range of financial products is available, including student loan refinancing, personal loans, mortgages, and investments
Cons
- Mainly an online bank, potentially unsuitable for those who prefer conventional banking interactions
- Less practical for depositing cash when compared to traditional banks
- The virtual nature of services might be less satisfying for users who prefer in-person assistance with intricate issues
>> Apply for a SoFi Bank Account Today! >>
Bank of America – Best for Opening a Checking Account
In North Carolina, Bank of America (BofA) stands out as a solid option for personal banking due to its status as one of the largest and most seasoned financial entities in the nation, offering a variety of benefits tailored to different banking needs.
If you prefer traditional over online banking, Bank of America could be particularly appealing as it ranks among the top national banks in the U.S.
The ease of access and convenience offered by a major bank like Bank of America is one of its primary benefits. With nearly 300 branches scattered across North Carolina, it’s easy to locate an ATM or obtain face-to-face assistance.
Though the savings APY provided by BofA may not be as lucrative as those offered by online banks, it offers a comprehensive suite of other financial products, including credit cards, home and auto loans, and investments through Merrill.
Pros
- Accessible network of branches and ATMs across North Carolina
- Comprehensive financial product offerings such as accounts, credit options, and investments
- Intuitive online and mobile banking with enhanced security features
Cons
- Monthly fees on certain accounts unless balance or activity criteria are met
- Lower yields on savings accounts and CDs compared to online counterparts
- Various fees for different services, which can be confusing and expensive over time
>> Apply for a Bank of America Account Today! >>
Upgrade – Best for Personal Loans
In North Carolina, Upgrade has made a name for itself as an innovative personal banking choice, integrating advanced digital services with appealing features that suit the needs of current consumers. Notably, its high-yield savings account offers exceptionally competitive interest rates, significantly higher than those of traditional banks, presenting a great opportunity for individuals aiming to enhance their savings efficiently.
Commitment to customer service is a major advantage at Upgrade. The bank places a strong emphasis on exceptional support, allowing customers to access help through multiple channels whenever needed. Additionally, Upgrade’s transparency and its straightforward approach to banking products simplify the financial experience for consumers, eliminating the hassles of hidden fees and complex agreements.
As a personal bank in North Carolina, Upgrade offers a combination of high savings returns, accessible credit options, and exemplary customer service, positioning itself as a contemporary solution to modern financial needs.
Pros
- Offers competitive interest rates on savings accounts, enabling faster capital growth compared to traditional banks
- Free from monthly maintenance fees and minimum balance requirements
- Provides a broad range of financial products, including personal loans and the Upgrade Card, which blends the functionalities of a personal loan with those of a credit card for flexible spending and efficient debt management
Cons
- Primarily an online entity, it lacks physical branches for those who prefer traditional banking
- The absence of an ATM network for cash deposits can make depositing cash inconvenient, requiring users to seek alternative methods
>> Apply for an Upgrade Bank Account Today! >>
U.S. Bank – Best Customer Service
For three consecutive years, U.S. Bank has clinched the highest Customer Satisfaction ranking, which was awarded by J.D. Power. It offers the smallest monthly fee among national banks, with an easy waiver option. Its digital banking solutions ensure convenient transactions, which is highlighted by Keynova Group’s three-year consecutive top ranking of its mobile app.
According to the 2017 U.S. Retail Banking Satisfaction Study by J.D. Power, U.S. Bank was ranked second. The study evaluates factors like the bank’s efficiency in handling customer problems, branch availability, fee schedules, and product range. This rating is a reliable indicator of the bank’s customer service quality.
Choosing U.S. Bank means accessing a diverse array of financial products. Apart from standard savings and checking accounts, it provides money market accounts, various credit cards, and several types of loans.
Pros
- No monthly service fee for the Silver Business Checking account
- Welcome bonus for new customers (terms apply)
- Use of 4,700 U.S. Bank ATMs without fees and access to 2,900 branches
- Overdrafts of $50 or less aren’t charged a fee
Cons
- Limited cash deposit capabilities
- Difficult to find terms and fees on the bank’s website
- Limited to 125 fee-free transactions each month
>> Apply for a U.S. Bank Account Today! >>
Discover Bank emerges as a strong contender for personal banking in North Carolina, particularly for those who prioritize the convenience of online banking and enticing interest rates. Its high-yield savings account stands out, offering interest rates considerably higher than the national average.
This makes it an attractive choice for savers seeking to maximize their returns. The certificates of deposit (CDs) at Discover also feature competitive rates, allowing customers to lock in elevated interest for predetermined terms. These high-yield options set Discover apart from conventional banking options.
Pros
- Discover boasts high interest rates on savings accounts, notably above the national average, fostering quicker growth of your funds
- Absence of monthly maintenance fees, overdraft fees, and minimum balance demands facilitates easier management of finances without surprise charges
- The certificates of deposit (CDs) at Discover yield high returns over fixed terms, which are advantageous for those with long-term saving plans
Cons
- With a primarily online operation, Discover may not suit those who favor traditional, in-person banking services
- The process of depositing cash may prove inconvenient due to the sparse network of ATMs equipped for cash deposits
>> Apply for a Discover Bank Account Today! >>
Best Personal Banks in North Carolina – Buyers Guide
Tips on Banking in North Carolina
Choosing a bank is a personal decision, and what works for someone else might not suit your needs. Identify what’s important to you in a bank, and compare the available options to find the best match.
If you value personalized support from a local branch, explore banks within your area of North Carolina to find one that aligns with your needs.
Many traditional banks now offer digital banking services, but they often lack the competitive interest rates of top online banks. If you’re comfortable with online-only banking, opening an account with an online bank can help you avoid fees while accessing higher interest rates. Credit unions, if you meet their membership requirements, can also provide excellent rates and personalized services.
You don’t need to do all your banking in one place. Utilizing multiple banks could be beneficial if you appreciate the different features offered by various institutions.
Choosing the right bank in North Carolina involves evaluating various factors to ensure the bank meets your financial needs and preferences.
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How to Choose the Right Bank in North Carolina
1. Identify Your Banking Needs
Personal vs. Business Banking: Determine if you need personal banking services, business banking services, or both. Some banks specialize in certain areas and may offer better services for specific needs.
Types of Accounts: Decide on the types of accounts you need, such as checking, savings, money market accounts, or certificates of deposit (CDs). Consider if you need additional services like loans, credit cards, or investment options.
2. Consider Convenience
Location and Accessibility: Choose a bank with branches and ATMs conveniently located near your home, workplace, or frequently visited areas. For North Carolina, consider if the bank has a good presence in major cities.
Online and Mobile Banking: Ensure the bank offers robust online and mobile banking options. Look for features like mobile check deposit, bill pay, account alerts, and a user-friendly app.
3. Evaluate Fees and Charges
Account Fees: Compare monthly maintenance fees, minimum balance requirements, ATM fees, overdraft fees, and any other charges. Some banks offer fee waivers if you meet certain criteria, such as maintaining a minimum balance or setting up direct deposit.
Transaction Limits: Check for any limits on transactions, particularly for savings accounts and money market accounts, which may have restrictions on the number of withdrawals or transfers allowed per month.
4. Assess Customer Service
In-Branch Services: Visit a few branches to gauge the quality of customer service. Friendly, knowledgeable staff can make a significant difference in your banking experience.
Customer Support: Consider the availability and responsiveness of customer support. Look for banks that offer 24/7 support through multiple channels like phone, email, and live chat.
5. Explore Special Offers and Programs
Promotions and Bonuses: Many banks offer promotions such as sign-up bonuses, cash rewards, or higher interest rates for new customers. Evaluate these offers but ensure they align with your long-term banking needs.
Loyalty Programs: Look for banks that offer loyalty programs or rewards for long-term customers. These can include perks like reduced fees, higher interest rates, or exclusive access to financial products.
6. Compare Interest Rates
Savings and CDs: Compare interest rates for savings accounts, money market accounts, and CDs. Higher rates can significantly impact your savings growth over time.
Loans and Credit Cards: If you need loans or credit cards, compare interest rates, terms, and conditions. Lower rates and favorable terms can save you money in the long run.
7. Consider Community and Regional Banks
Local Focus: Community and regional banks often provide more personalized service and have a better understanding of local needs. They may also be more involved in supporting local businesses and community initiatives.
Credit Unions: Credit unions are member-owned financial institutions that often offer competitive rates and lower fees. Membership may be restricted based on certain criteria, so check eligibility requirements.
>> Axos – Top Personal Bank North Carolina >>
Frequently asked questions
To open a personal bank account, follow these steps:
- Choose a Bank: Research and select a bank that fits your needs.
- Gather Documentation: You’ll typically need a government-issued ID, proof of address, and your Social Security number.
- Visit a Branch or Apply Online: You can either visit a local branch or apply online through the bank’s website.
- Complete the Application: Fill out the required forms and provide the necessary documentation.
- Initial Deposit: Some banks require an initial deposit to open the account. Ensure you have the minimum amount ready.
While traditional banks provide the convenience of physical branches for face-to-face services and cash handling, they often feature lower interest rates on savings accounts and higher fees than their online-only counterparts. This setup might not be ideal for those seeking the best financial returns from their bank.
Online-only banks are an excellent choice in North Carolina for those looking to maximize their savings through higher interest rates and lower fees, characteristics typical of these institutions. However, they may not suit everyone; if you value direct interactions at a bank or need to make cash deposits regularly, an online-only bank may not meet all your banking needs.
Credit unions can be a great alternative to banks. They’re member-owned cooperatives that often offer lower fees, higher interest rates, and a strong focus on customer service. Here are some factors to consider when choosing a credit union:
Membership eligibility: Ensure you meet the membership requirements.
Products and services: Verify they offer the accounts and services you need.
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Bottom Line
Residents of North Carolina have a wealth of excellent options when it comes to choosing a new bank or credit union. For those seeking extensive access and national coverage, Axos, Bank of America, Chime, or SoFi deliver are top choices.
Ultimately, the best bank for you will depend on your individual financial goals and lifestyle. Whether you prioritize high interest rates, fee transparency, digital convenience, or robust customer service, North Carolina offers a variety of excellent banking options to meet your needs.
>> Axos – Top Personal Banking Services in North Carolina >>
Aeron Rupar
