Top 10 Largest Banks in the U.S.

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Banking with a large bank can make it easier to get a variety of financial products and services in one place. If you like to have your bank accounts, loans and investments under one proverbial roof, working with one of the largest banks in the U.S. may be the right move.

Chase, Bank of America, Citi and Wells Fargo make up the big four banks—the only U.S.-based banks with more than a trillion dollars in assets—but there are several more that can also be a good fit for someone looking for a large traditional bank. Here are the largest banks in the U.S., according to data from the Federal Reserve, as of September 2023.

Top 10 Largest Banks in the U.S. (by Asset Size)

The top 10 largest banks in the U.S. by order of asset size are Chase, Bank of America, Wells Fargo, Citi, U.S. Bank, PNC Bank, Truist, Goldman Sachs, Capital One and TD Bank.

_{Source: Federal Reserve, December 2023}

1. Chase

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The nation's largest bank has nearly $3.4 trillion in assets in the U.S. and abroad. The bank offers banking products for consumers and small businesses. It also offers a host of personal and business credit cards—many of which are on our list of the best credit cards—as well as mortgage loans, auto loans and investment products and services.

Chase also has the largest branch network of any U.S. bank, with locations in 48 states (excluding Alaska and Hawaii) and more than 16,000 ATMs.

Chase Total Checking® Account

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Chase Total Checking® is among the best entry-level accounts. It typically offers new customers a sign-up bonus, and it’s fairly simple to waive the $12 monthly fee. However, it's worth noting that it doesn’t offer many valuable features or benefits and it’s not an interest-bearing checking account.

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• Pros & Cons

Overview

Chase Total Checking® is a basic checking account that doesn’t offer many premium features. However, if you can easily meet the qualifications required for the new account bonus (and to waive its monthly fee), it’s a good option for those who want an entry-level account.

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Pros

• No minimum opening balance
• Multiple ways to waive monthly fee
• Access to nationwide Chase branches and ATM network

Cons

• Monthly maintenance fee
• Account does not earn interest

Chase Business Complete Checking®

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  Earn $300 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.

The Chase Business Complete Checking® account is an attractive option. It offers the convenience of one of the largest financial institutions in the country, and it frequently offers bonuses that are relatively easy to earn. While it does not allow you to accrue interest on your funds like some other popular small business checking accounts, it's still very much worth considering if you can meet the requirements to waive its monthly fees.

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Overview

The Chase Business Complete Checking® account comes loaded with a valuable sign-up bonus and an assortment of helpful perks, so long as you can meet the requirements to waive its monthly fees. It’s a good fit for many business checking customers, regardless of business size.

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Pros

• Generous signup bonus
• Several options to waive monthly fee
• Same-day deposits using QuickAccept℠ service
• Huge network of in-person branches and ATMs

Cons

• Monthly maintenance fee
• Overdraft fees are relatively high
• Limit on fee-free cash deposits and physical transactions

2. Bank of America

Bank of America has around $2.54 trillion in assets, primarily in the U.S. but also internationally. The bank offers several products and services for both consumers and small businesses. On the consumer side, Bank of America offers bank accounts, credit cards, home loans, auto loans and investment products through its subsidiary, Merrill Lynch. Small business owners can take advantage of bank accounts, credit cards, a variety of business loans and other services. 

The bank has a large physical footprint, with around 3,800 branches and roughly 15,000 ATMs in close to 40 states.

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3. Wells Fargo

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Rounding out the top three banks, Wells Fargo has around $1.7 trillion in assets, virtually all in the U.S. The bank offers a wide range of options for consumers and small businesses, including bank accounts, credit cards, personal loans, auto loans, home loans, small business loans, and investing and wealth management services.

Wells Fargo operates the second-largest branch network in the nation, with roughly 4,400 branches and more than 11,000 ATMs across close to 40 states.

4. Citi

With around $1.68 trillion in assets, Citi has a solid portfolio. However, a good chunk of the bank's business is international. It also doesn't have nearly as many physical locations as other top banks—it has fewer than 700 branches, primarily in California and the Mid-Atlantic region. That said, the bank has a sizable ATM network with more than 65,000 fee-free ATMs. 

Citi offers bank accounts for consumers and small businesses, personal and business credit cards, personal loans, home loans, small business loans and investment products and services.

5. U.S. Bank

Despite its name, U.S. Bank is a regional bank, with approximately $651 billion in assets, mostly within the U.S. The bank offers personal and business bank accounts, personal and business credit cards, personal loans and lines of credit, home loans, auto loans, small business loans and services and wealth management services.

Despite its smaller size compared to the big four banks, U.S. Bank has around 2,300 branches in just under 30 states and thousands of ATMs.

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U.S. Bank Silver Business Checking Account

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  Earn up to a $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q2AFL24 and complete qualifying activities1, subject to certain terms and limitations. Offer valid through August 30, 2024. Member FDIC.

If you're in the market for a basic business checking account, you'd do well to consider U.S. Bank's Silver Business Checking. This account carries no monthly maintenance fee, and features an alluring sign-up offer for new customers who complete qualifying transactions. While the free cash deposit limit is relatively low, it should be enough to accommodate businesses that don't generate many monthly banking transactions.

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Overview

The Silver Business Checking account is U.S. Bank’s entry-level business account. This account offers customers 125 free transactions per statement cycle, as well as $2,500 of free cash deposits or 25 free cash transactions (whichever comes first) per statement cycle. The Silver Business Checking account has no monthly maintenance fee, and requires a minimum opening deposit of $100.

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Pros

• Strong welcome offer
• No monthly maintenance fee
• Robust online banking functionality

Cons

• Relatively low cash deposit limit

6. PNC Bank

PNC Bank

Another U.S.-only bank, PNC Bank has about $557 billion in assets. Personal and business products and services include bank accounts, credit cards, personal loans and lines of credit, student loans, auto loans, home loans, small business loans, merchant services and an investment platform.

PNC has around 2,400 physical locations across around 30 states and the District of Columbia. Even if you don't live near a branch, though, you can access money at more than 60,000 ATMs nationwide.

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7. Truist

Truist has virtually all of its $527 billion in assets within the U.S. The regional bank offers products and services to consumers and small businesses, including bank accounts, credit cards, personal loans, auto loans, boat and RV loans, home loans, small business loans and services, investment services and even insurance.

The bank has more than 2,000 branches and more than 3,000 ATMs across nearly 20 states and the District of Columbia.

8. Goldman Sachs Bank

Primarily an investment bank, Goldman Sachs offers very few consumer banking products and services. The bank, which has about $521 billion in assets, mostly within the U.S., offers a high-yield savings account and certificates of deposit through its online banking division Marcus. It also issues a couple of co-branded credit cards and offers investment products and services.

As an online retail bank, Marcus by Goldman Sachs doesn't have any physical branches. Also, because it doesn't offer a checking account, there's also no ATM network.

9. Capital One

Capital One

Capital One Bank has all of its nearly $476 billion in assets in the U.S. and primarily offers online products and services. The bank's lineup includes personal and business bank accounts, personal and business credit cards, auto loans, business loans and merchant services.

The bank has fewer than 300 branches, including cafes, in just a handful of states. That said, its ATM network has more than 70,000 fee-free ATMs.

10. TD Bank

A subsidiary of the Canada-based TD Group, TD Bank has about $367 billion in assets, all within the U.S. The bank offers consumer and small business bank accounts and credit cards, personal loans, home loans, business loans and lines of credit and other business services, as well as an investment platform.

TD Bank has about 1,200 physical branches and over 2,600 ATMs in 15 states along the East Coast and the District of Columbia.

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Are Large Banks Safer Than Smaller Banks or Credit Unions?

Not necessarily, but large banks can be a better choice when it comes to convenience and safety. A large bank often offers a wide range of financial products and services and you may be able to get everything you need with one bank rather than spreading your money across multiple financial institutions. Additionally, having your money with a financially strong bank can make you feel like your money is safe. If the bank has a lot of branches, you can also benefit from in-person service, even if you're far from home.

However, there are also downsides to banking with a large financial institution. In general, they offer lower interest rates on bank accounts compared to credit unions and online banks, and they may also charge higher interest rates on loans. 

In some cases, it can make sense to spread your finances across multiple financial institutions to take advantage of the benefits and features offered by each. If you store more than $250,000 with one bank, you’ll exceed the FDIC insurance limit, which could increase your risk. Take your time to research and compare several options to determine the best approach for you.

Frequently Asked Questions

• What are the top four largest banks in the U.S.?

  In terms of assets, the four largest banks in the U.S. are JPMorgan Chase, Bank of America, Wells Fargo and Citi.

• What bank has the most banks in the U.S.?

  Many banks have thousands of physical locations across the country. If you want the bank with the widest network, however, you'll want to pick Chase, which has around 4,900 branches in 48 states.

• Which banks are too big to fail?

  The concept of "too big to fail" suggests that some financial institutions are so large that failure would wreak havoc on the U.S. economy and even foreign economies. As a result, these banks typically receive government support during difficult economic times to avoid causing an economic catastrophe.

  In the wake of the 2008 financial crisis, the Federal Reserve created a committee to supervise eight banks and holding companies whose failure could significantly impact the economy. Those institutions include:

  • Bank of America Corporation
  • The Bank of New York Mellon Corporation
  • Citigroup Inc.
  • The Goldman Sachs Group, Inc.
  • JP Morgan Chase & Co.
  • Morgan Stanley
  • State Street Corporation
  • Wells Fargo & Company

  Because banks with the "too big to fail" designation have more regulatory involvement and government intervention than other financial institutions, they can be considered a safe place to put your money.