These are the 20 biggest banks in the US

By / February 17, 2024

There are a number of components to contemplate when selecting a financial institution. Product choices, department places, charges, and rates of interest are simply a few of the options you would possibly consider.

One other issue to contemplate: measurement. Doing enterprise with a big, nationwide financial institution has its professionals and cons. Though it’s possible you’ll obtain much less personalised service or be topic to extra charges, larger banks do have a tendency to supply a wider vary of services and products, in addition to extra department and ATM places nationwide.

Learn extra: How do banks make cash?

So, for those who’re fascinated with working with a giant financial institution, right here’s an inventory of the 20 largest banks within the US by home asset measurement.

Chase Financial institution is the biggest financial institution within the US. It operates greater than 4,900 branches and 16,000 ATMs throughout the nation. Chase presents a variety of economic merchandise together with bank cards, checking and financial savings accounts, certificates of deposit (CDs), residence and auto loans, and enterprise and industrial banking merchandise.

Financial institution of America’s roots return greater than 200 years, and it’s now the second-largest financial institution within the US. BofA presents a variety of merchandise for private and enterprise prospects, together with deposit accounts, bank cards, strains of credit score, and wealth administration companies. Financial institution of America operates greater than 3,700 branches within the U.S. and has a community of roughly 15,000 ATMs.

Wells Fargo has been serving prospects since 1852. It presents banking services and products for private, small enterprise, industrial, and company purchasers. This consists of checking and financial savings accounts, CDs, residence and auto loans, strains of credit score, industrial financing, investing, and wealth administration companies. Wells Fargo operates greater than 4,300 branches within the US and has a community of greater than 11,000 ATMs.

Citibank is the fourth largest financial institution by asset measurement with over $1 trillion in home belongings. Citi operates 654 branches within the US, has a community of greater than 2,300 ATMs inside its branches, and offers prospects entry to over 60,000 surcharge-free ATMs within the US. Citi’s product choices embrace deposit accounts, particular person retirement accounts (IRAs), mortgage and private loans, enterprise financial institution accounts, and extra.

Learn extra: 10 greatest high-yield financial savings accounts for Could 2024

U.S. Financial institution was based in 1863 and has grown to develop into the fifth-largest financial institution within the US. Its product choices embrace deposit accounts, bank cards, private loans and contours of credit score, residence loans, auto loans, enterprise financial institution accounts, loans, and contours of credit score, and company and industrial banking options and funding companies. U.S. Financial institution operates greater than 2,300 branches throughout the nation.

PNC Financial institution has served prospects for greater than 160 years. It presents banking merchandise for private, small enterprise, company, and institutional purchasers. PNC has a community of greater than 2,300 branches throughout the nation and roughly 60,000 PNC and accomplice ATMs.

Truist is a monetary companies firm established because of the BB&T Financial institution and SunTrust Financial institution merger. Truist presents monetary services and products for private, small enterprise, industrial, company, and institutional purchasers. It operates over 2,000 branches within the US and has a community of greater than 2,900 ATMs.

Capital One is a Virginia-based bank card firm based in 1994. Over time, Capital One has expanded its choices to incorporate a full suite of economic services and products for customers and companies, together with checking and financial savings accounts, new and used auto financing, enterprise accounts and bank cards, and industrial banking options. Capital One operates 278 branches throughout the US and has a community of over 70,000 ATMs.

The net shopper banking division of Goldman Sachs is called Marcus by Goldman Sachs. It presents an internet financial savings account, a number of CDs, and bank cards. Goldman Sachs Financial institution has 4.5 billion in home belongings. Be aware that Marcus doesn’t provide ATMs or debit playing cards, and funds should be accessed by way of ACH or wire switch.

TD Financial institution is one other main US financial institution that serves over 10 million prospects by way of its retail, small enterprise, and industrial banking merchandise. Its merchandise embrace checking and financial savings accounts, bank cards, mortgages, lending, and investing merchandise. TD Financial institution operates over 1,100 branches nationwide and a community of two,600 ATMs.

BMO Financial institution is headquartered in Chicago and has served prospects for over 200 years. Its merchandise embrace financial institution accounts and companies for private, wealth, enterprise, and industrial purchasers. BMO operates greater than 1,000 branches throughout the US and has a community of greater than 40,000 ATMs.

Learn extra: The ten greatest on-line banks for Could 2024

Financial institution of New York Mellon (BNY Mellon) was based by Alexander Hamilton in 1784 and is the twelfth largest financial institution by home asset measurement within the US. BNY Mellon presents funding administration and funding companies, and has over $2.4 billion in belongings.

Residents Financial institution presents banking merchandise for private, enterprise, and company purchasers. Its merchandise embrace deposit accounts, bank cards, residence loans, scholar loans, investing and wealth administration companies, and extra. Residents operates over 1,000 branches throughout the nation and has a community of greater than 3,200 ATMs.

State Avenue Financial institution is a Massachusetts-based belief firm that provides funding servicing and administration options. State Avenue is the 14th largest financial institution with $2.1 billion in home belongings.

Fifth Third Financial institution is a regional financial institution headquartered in Ohio. It operates over 1,100 branches throughout the US and a community of greater than 40,000 fee-free ATMs. Fifth Third Financial institution serves private, enterprise, industrial, and wealth administration purchasers, providing checking and financial savings accounts, CDs, SBA loans, money administration options, enterprise checking and bank card options, funding administration, and extra.

First Residents Financial institution was based in North Carolina over 100 years in the past and serves private, small enterprise, industrial, and wealth administration purchasers. First Residents presents checking and financial savings accounts, bank cards, loans, mortgages, insurance coverage, retirement, funding merchandise, and extra. First Residents operates over 500 branches within the US.

Morgan Stanley is a monetary companies firm that serves people, households, establishments, and governments, providing funding accounts and monetary advisory companies. Morgan Stanley Financial institution at present has over $2 billion in home belongings.

Based in 1856, M&T Financial institution is a neighborhood financial institution that serves prospects throughout the US. It presents checking and financial savings accounts, CDs, mortgages and loans, bank cards, investments, and insurance coverage companies. It additionally presents enterprise and industrial banking merchandise. M&T operates virtually 1,000 branches throughout the US and has a community of greater than 1,600 ATMs.

Morgan Stanley Non-public Financial institution is a division of Morgan Stanley Financial institution that provides checking and financial savings accounts. Morgan Stanley Non-public Financial institution doesn’t function any branches within the US or overseas.

Learn extra: What’s personal banking, and the way does it work?

Headquartered in Columbus, Ohio, and based in 1866, Huntington Nationwide Financial institution is the twentieth largest financial institution by home asset measurement within the US. It offers a variety of economic services and products, together with checking and financial savings accounts, CDs, bank cards, mortgages, residence fairness loans and contours of credit score, insurance coverage merchandise, and extra. Huntington operates over 1,000 branches throughout the nation.

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