The best banks in New York

BEST FOR: PHYSICAL BRANCHES AND ATMS IN NYC

Chase Bank-0.01%

Chase has over 4,700 branches and over 16,000 toll-free ATMs. Chase has more than 500 branches in New York, the most branches of any bank. Its highly rated mobile app offers bespoke money management tips and tools. Chase’s monthly fee is waived if certain balances or ACH requirements are met. Additionally, Chase also has a low opening deposit and offers auto loans, mortgages, and credit cards.

BEST FOR: SMALL BUSINESSES IN NYC

M&T Bank – 0.01%

M&T Bank is a regional bank headquartered in New York. They have over 700 branches in eight states and Washington DC and 1,900 M&T Bank ATMs. The monthly M&T fee for the EZChoice checking account is waived if certain conditions are met. M&T focuses on helping small businesses. It helps them get business financial accounts such as checking, financing, cash management, digital banking, business credit cards, and merchant services. Additionally, M&T has a business training center with over 900 specialists to assist business owners.

BEST FOR: APY REFUND AND HIGH ATM

Ally Bank – Up to 0.25%

Ally is an online bank with a top notch mobile app. Although it does not have a physical location, it has over 43,000 free Allpoint ATM locations. Ally also reimburses ATM fees up to $10 per statement cycle. Additionally, there are no minimum deposit and balance requirements, and in 2021 it eliminated all overdraft fees. Ally also offers free standard and official checks, and free domestic and international bank transfers. The bank offers an above average APY on all balances. While Ally offers 0.25% APY for minimum balances over $15,000, the Ally Online Savings Account currently offers 1% APY on all balances.

BEST FOR: HIGH APY AND UNLIMITED GAB REFUND

Axos Bank – Up to 1%

Axos is an online-only bank. Axos offers unlimited refunds at domestic ATMs. Plus, there are no minimum balance requirements, no overdrafts or NSF fees. The bank offers up to 1% APY, one of the highest APYs, for those who meet the APY levels requirements. Axos provides a free debit card and offers a number of digital tools to help customers manage their money. Axos has a minimum deposit requirement of $50, but there is no minimum balance requirement to earn interest.

BEST FOR: MOST RATED MOBILE APPS AND PHYSICAL LOCATIONS

Capital One – 0.10%

Capital One offers a top-notch mobile app and has over 70,000 free Capital One, MoneyPass and Allpoint ATM locations. For those looking for face-to-face interaction, Capital One has 450 locations and 41 Capital One cafes, where customers can bank, grab a cup of coffee and get advice from a Certified Money Coach. Additionally, there are no deposit and minimum balance requirements, no foreign transaction fees, and as of January 13, 2022, Capital One no longer charges overdraft fees. The bank offers an above average APY on all balances. Capital One also offers advance direct deposit, where select customers can access their paychecks up to two days early.

BEST FOR: CASH BACK

Discover Cash Back Debit – 0%

Discover is best known for its credit card, but it’s also a full-service online bank. Customers earn 1% cash back on up to $3,000 in debit card purchases every month. Although it does not have a physical location, it has over 60,000 free ATM locations. Additionally, there are no minimum deposit and balance requirements, and customers who sign up for optional overdraft protection will not be charged an insufficient funds fee (NSF). The bank does not offer APY.

BEST FOR: CASH REFUND AND ATM REFUND

LendingClub Rewards Check – Up to 0.15%

LendingClub is an online bank only. Although it does not have a physical location, it offers unlimited refunds at domestic and global ATMs. Plus, there are no minimum balance requirements, no overdraft or NSF fees. LendingClub offers 1% cash back on debit card purchases. The bank offers an above average APY of 0.15%, but there is a minimum balance of $2,500 to earn interest and earn the 1% cash back.

BEST FOR: APY NETWORK AND HIGH ATM

Quontic Bank – Up to 1.01%

Quontic is an online bank. Although it has only one physical location in Astoria, New York, it has over 90,000 free ATMs. Plus, there are no minimum balance requirements, no overdraft fees or NSF fees. The bank offers up to 1.01% APY, one of the highest APYs, for those who meet the requirements of the APY levels. Money orders and bank checks are also free. Clients must make a minimum monthly trade to qualify for the high APY, but they still earn a lower return even if the monthly requirements are not met.

BEST FOR: UNLIMITED ATM REFUNDS AND NO OVERSEAS TRANSACTION FEES

Schwab Bank – 0.03%

This free current account is available for Schwab brokerage clients. Schwab offers unlimited refunds at domestic and international ATMs. Schwab also does not charge foreign transaction fees (1% to 3% of the transaction cost). Additionally, there is no minimum deposit requirement and no minimum balance requirement.

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