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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)

Bank Assets Branches

JPMorgan Chase Bank

$3.39 trillion

4,700

Bank of America

$2.47 trillion

3,900

Wells Fargo

1.70 trillion

4,000

Citi

$1.66 trillion

660

U.S. Bank

$657 billion

2,000

PNC Bank

$553 billion

2,600

Goldman Sachs Bank

$538 billion

2

Truist

$535 billion

2,000

Capital One

$469 billion

300

TD Bank

$366 billion

1,100

Source: Federal Reserve, September 2023

1. Chase

Chase Bank

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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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  • Intro Bonus $300Expires April 17, 2024 More Info

    New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities

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.

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.

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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    N/A
  • Intro Bonus $400Expires April 18, 2024 More Info

    Earn $400 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.

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.

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 $2.47 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 close to 3,900 branches and roughly 15,000 ATMs in close to 40 states.

SoFi Checking and Savings

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at SoFi

  • Our Rating 5/5 How our ratings work Read the review
  • APY0.50% - 4.60% More Info

    Customers earn 4.60% APY on savings balances when they set up recurring monthly direct deposit of their paycheck or benefits provider via ACH deposit. Alternatively, deposit at least $5,000 each month to earn 4.60% APY on your savings balance. Checking balances earn 0.50% APY

  • Minimum
    Deposit Required
    N/A
  • Intro Bonus $50-$300Expires June 30, 2024 More Info

    New customers can earn a $300 bonus for opening a new SoFi Checking and Savings account and receiving a total of $5,000+ in qualifying direct deposits within the specified evaluation period; receive $1,000 - $4,999 in qualifying direct deposits to earn a $50 bonus.

SoFi Checking and Savings boasts an impressive 4.60% APY on savings balances for customers who set up direct deposit, or who deposit at least $5,000 each month. This account also offers 0.50% APY on checking balances. There are no monthly maintenance fees, and new customers can even earn a generous signup bonus worth up to $300. If you don’t care about physical bank locations, this is a great option.

Overview

SoFi Checking and Savings features remarkably strong interest rates for customers who receive recurring monthly direct deposit, or who deposit $5,000+ every 30 days. This account also doesn’t have any maintenance fees, overdraft fees or non-sufficient funds fees. To top it off, new customers can earn a signup bonus worth up to $300.

Pros

  • Accounts with monthly direct deposit earn interest
  • No minimum opening balance or minimum monthly balance
  • No maintenance fees, non-sufficient fund fees or overdraft fees
  • Access to Allpoint’s worldwide ATM network
  • Get paid up to two days early

Cons

  • No physical branch locations

UFB Direct Secure Savings Account

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  • APY5.25% More Info

    UFB Direct breaks balances into five tiers, but, currently, there is only one interest rate.

  • Minimum
    Deposit Required
    N/A
  • Intro Bonus N/A

The UFB Direct Secure Savings Account has one of the highest interest rates we’ve seen for a high-yield savings account at up to 5.25% APY. Plus, there are no monthly fees and no minimum balance to open.

Overview

With one of the strongest high-yield savings interest rates on the market, as well as no monthly fees or minimum opening deposit, UFB Direct’s Secure Savings Account is an extremely attractive package.

Pros

  • Strong interest rate
  • No maintenance fees or minimum monthly balances
  • Free complimentary ATM card
  • Mobile app and SMS banking

Cons

  • No signup bonus
  • No associated checking account

3. Wells Fargo

Wells Fargo atm

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Rounding out the big four banks, Wells Fargo has nearly $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 4,000 branches and more than 11,000 ATMs across close to 40 states.

4. Citi

With around $1.67 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 $657 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 2,000 branches in just under 30 states and thousands of ATMs.

US Bank exterior Related Article

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U.S. Bank Silver Business Checking Account

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at U.S. Bank

  • Our Rating 4.5/5 How our ratings work Read the review
  • APYN/A
  • Minimum
    Deposit Required
    $100
  • Intro Bonus Up to $800Expires April 23, 2024 More Info

    Earn up to a $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q1AFL24 and complete qualifying activities1, subject to certain terms and limitations. Offer valid through April 23, 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.

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.

Pros

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

Cons

  • Relatively low cash deposit limit

6. PNC Bank

PNC Bank exterior

PNC Bank

Another U.S.-only bank, PNC Bank has about $553 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 2,300 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.

PNC Bank exterior Related Article

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7. Goldman Sachs Bank

Primarily an investment bank, Goldman Sachs offers very few consumer banking products and services. The bank, which has about $538 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.

8. Truist

Truist has virtually all of its $535 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.

9. Capital One

Capital One cafe Santa Monica

Capital One

Capital One Bank has all of its nearly $469 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 $366 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 more than 1,100 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

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

  • 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 nearly 4,800 branches in 48 states.

  • 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.

BL

Ben Luthi

Ben Luthi is a personal finance and travel writer and credit card expert. He has a degree in finance from Brigham Young University and worked in financial planning, banking and auto finance before writing full-time for NerdWallet and Student Loan Hero. Ben is now a full-time freelance writer and enjoys traveling and spending time with his two kids. His work has appeared in several publications, including U.S. News & World Report, USA Today, Money, Success and Slickdeals.