Banking » Compare Banks » Best Banks In Washington For 2024
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Best Banks In Washington For 2024

Explore top-tier Washington banks with interest-based checking, good customer service, attractive savings rates, and a wide branch presence.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: April 15, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: April 15, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

If residing in Washington and in search of the perfect bank, you'll find yourself with a wealth of options.

From local establishments to national banks and online institutions, we conducted a comprehensive analysis of crucial factors, including branch availability, diverse product offerings, competitive deposit interest rates, outstanding online banking services, and top-notch customer assistance.

Best Washington Regional Banks

Here are our top picks for regional and community banks in Washington:

Banner Bank

Banner Bank Logo
Banner Bank Logo

Banner Bank

Checking Fees

$4 – $12

Money Market APY

0.75% – 1.25%

Savings APY

0.50% – 4.08%

CDs APY

2.53% – 4.34%

Banner Bank is known for its diverse range of banking products, including checking accounts, CDs, money market accounts, IRAs, loans, and investment options. With over 70 branches in 50 cities across Washington, the bank offers convenience and accessibility to its customers.

Pros of banking with Banner Bank include their wide variety of products, competitive CD and savings rates, interest-bearing checking accounts, and a reputation for providing good customer service.

However, there are some drawbacks to consider. The rates for money market accounts are lower compared to other options, and customers may need to deposit a substantial amount to benefit from higher savings rates. Additionally, the bank imposes various fees, which could affect the overall cost of banking with them.

key Bank

KeyBank-Logo
KeyBank-Logo

key Bank

Checking Fees

$0 – $25

Money Market APY

2.92%

Savings APY

N/A

CDs APY

0.05% – 5.00%

KeyBank operates more than 120 branches across 80 cities in Washington. One of its standout features is the absence of monthly fees for their checking accounts. Additionally, they offer a diverse range of financial products, including credit cards, lines of credit, personal loans, and mortgages.

Notably, KeyBank excels in providing excellent customer service, offering round-the-clock phone assistance, Twitter support, and chat support with extended hours. Customers with multiple accounts enjoy additional benefits akin to those provided by traditional brick-and-mortar banks.

However, KeyBank's savings account rates are not highly competitive, resulting in lower interest earnings on savings. To benefit from a promotional rate on their money market account, a minimum balance of $25,000 is required. 

Top Offers From Our Partners

PNC bank logo

Promotion:
Up to $400 Open a new, select Virtual Wallet product and receive $500/$2,000/$5,000 or more in qualifying monthly direct deposits within 60 days to earn a $100/$200/$400 bonus.
Subject to state availability
PNC Virtual Wallet ® is available in AL, AZ, CA, CO, DC, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NY, NM, OH, PA, SC, TX, VA, WI, and WV. Virtual Wallet ® is offered in the state of MO with the exception of the Greater Kansas City area. Product availability may vary based on where you open your account and the Zip code of your primary address.

Chase_logo

Promotion:
$300 New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.. Expired on 7/24/2024
Chase Overdraft Assist
With Chase Overdraft AssistSM, you won’t be charged an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day

UpgradeLogo

Fees:
No monthly fees No monthly fees and no overdraft fees. Plus get reimbursed for ATM fees with an active account 
Rewards:
Up to 2% cash back Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases 
Promotion:
$300 Use Promo Code “AXOS300” for a $300 bonus when you apply for a Rewards Checking account
Up to 3.30% APY
to get the maximum rate (up to $50,000) you'll need monthly direct deposits of $1,500 (0.40% APY), 10 transaction on your debit card (+0.30% APY), average daily balance of $2,500 on Axos Invest Managed Portfolio (+1.00% APY), average daily balance of $2,500 on Axos Invest Self Directed Trading Account(+1.00% APY) and make full monthly payment on loans (mortgage, personal and auto) with Axos account (+0.60% APY).

Promotion:
Up to $4,000 New customers may earn up to $4,000 when they open an eligible HSBC Premier checking account from January 8, 2024 through March 27, 2024 and complete qualifying activities:

• Receive a cash bonus of $1,500 when you deposit or invest $100,000 – $199,999.99

• Receive a cash bonus of $2,000 when you deposit or invest $200,000 – $299,999.99

• Receive a cash bonus of $2,500 when you deposit or invest $300,000 – 499,999.99

• Receive a cash bonus of $3,500 when you deposit or invest $500,000+

• Earn an extra $500 when you set up recurring monthly Direct Deposits totaling at least $5,000 for 3 months
Wealth Products & Advice
Get access to wealth products, insights and advice from an HSBC Financial Professional through HSBC Securities (USA) Inc
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

PNC bank logo

Promotion:
Up to $400 Open a new, select Virtual Wallet product and receive $500/$2,000/$5,000 or more in qualifying monthly direct deposits within 60 days to earn a $100/$200/$400 bonus.
Subject to state availability
PNC Virtual Wallet ® is available in AL, AZ, CA, CO, DC, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NY, NM, OH, PA, SC, TX, VA, WI, and WV. Virtual Wallet ® is offered in the state of MO with the exception of the Greater Kansas City area. Product availability may vary based on where you open your account and the Zip code of your primary address.

Chase_logo

Promotion:
$300 New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.. Expired on 7/24/2024
Chase Overdraft Assist
With Chase Overdraft AssistSM, you won’t be charged an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day

UpgradeLogo

Fees:
No monthly fees No monthly fees and no overdraft fees. Plus get reimbursed for ATM fees with an active account 
Rewards:
Up to 2% cash back Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases 
Promotion:
$300 Use Promo Code “AXOS300” for a $300 bonus when you apply for a Rewards Checking account
Up to 3.30% APY
to get the maximum rate (up to $50,000) you'll need monthly direct deposits of $1,500 (0.40% APY), 10 transaction on your debit card (+0.30% APY), average daily balance of $2,500 on Axos Invest Managed Portfolio (+1.00% APY), average daily balance of $2,500 on Axos Invest Self Directed Trading Account(+1.00% APY) and make full monthly payment on loans (mortgage, personal and auto) with Axos account (+0.60% APY).

Promotion:
Up to $4,000 New customers may earn up to $4,000 when they open an eligible HSBC Premier checking account from January 8, 2024 through March 27, 2024 and complete qualifying activities:

• Receive a cash bonus of $1,500 when you deposit or invest $100,000 – $199,999.99

• Receive a cash bonus of $2,000 when you deposit or invest $200,000 – $299,999.99

• Receive a cash bonus of $2,500 when you deposit or invest $300,000 – 499,999.99

• Receive a cash bonus of $3,500 when you deposit or invest $500,000+

• Earn an extra $500 when you set up recurring monthly Direct Deposits totaling at least $5,000 for 3 months
Wealth Products & Advice
Get access to wealth products, insights and advice from an HSBC Financial Professional through HSBC Securities (USA) Inc
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

Best Washington National Banks

We carefully examined several national banks operating in Washington to identify the ones that excel. Here are our picks:

Chase Bank

Chase_logo
Chase_logo

Chase Bank

Checking Fees

$0 – $35

Checking Promotion

$300 (Chase Total Checking) Expired on 7/24/2024

Savings APY

0.01%

CDs APY

3.00% – 4.75%

With a widespread presence in 70 cities throughout Washington and a substantial network comprising over 150 branches, the bank prioritizes accessibility for its customers. Chase Bank offers a comprehensive array of banking solutions to cater to a wide range of needs.

Key strengths of Chase Bank include its extensive branch and ATM network, ensuring convenient access to funds, and a diverse selection of credit cards that provide customers with multiple choices.

Chase mobile app dashboard activities
(Screenshot taken by our team from Chase app)

However, it is important to take note of certain considerations. Some accounts come with high monthly fees, necessitating prudent management of finances. Additionally, the interest rates on their savings accounts and CDs might not be as competitive as those offered by other banks. 

Bank Of America

Bank_of_America
Bank_of_America

Bank Of America

Checking Fees

$0 – $25

Checking Promotion

$200 Requirements to Receive the $200 Online Only Offer Bonus: (1) Open a new Bank of America Advantage Banking account online using offer code TWA200CIS by January 31, 2024, to be enrolled in this offer. (2) Set up and receive Qualifying Direct Deposits totaling $2,000 or more into that Bank of America Advantage Banking account within ninety (90) days of account opening. is required. Promotion expired on 01/31/2024

Savings APY

0.01% – 0.04%

CDs APY

0.05% – 5.00%

Bank of America provides a wide range of financial services such as checking and savings accounts, credit cards, mortgages, loans, investments, and wealth management. With over 120 branches throughout Washington, spanning 50 cities, customers can easily access nearby banking facilities.

For added convenience, Bank of America offers both in-person and online banking services. They often have enticing promotions for checking accounts and offer attractive rewards for credit card holders. Additionally, specific CD terms may yield high rates for savers.

BofA checking cash flow chart
BofA checking cash flow chart (Screenshot from Bank Of America app)

However, it's essential to be mindful of certain aspects. The bank charges fees, including overdraft fees, which may not be ideal for those seeking fee-free alternatives.

While their customer service has improved, some individuals may still encounter occasional issues with responsiveness and support. Moreover, their interest rates on savings accounts and certain loans might not be as competitive as other available options.

U.S. Bank

us-bank-logo
us-bank-logo

U.S. Bank

Checking Fees

$4.95 – $6.95

Checking Promotion

Up to $500 Minimum deposit of Earn up to $500 by opening a new U.S. Bank Smartly® Checking account and Complete two or more direct deposits. Your bonus is determined by the total amount of your direct deposits: earn $300 when your direct deposits total $5,000 to $9,999 OR earn $500 when your direct deposits total $10,000 or more. needed. Expired on 09/06/2023

Savings APY

0.01%

CDs APY

0.05% – 0.25%

Serving the Washington region, U.S. Bank boasts an extensive network of over 120 branches scattered across 80 cities, ensuring easy accessibility for its patrons. U.S. Bank offers a diverse array of products and services catering to various financial needs. Additionally, the bank's widespread ATM network enables convenient cash access for customers on the go.

U.S. Bank presents an enticing promotional CD featuring attractive high-rate choices for those focused on growing their savings. The U.S. Bank Smartly Checking offers a bunch of features for customers, and the bank's mobile app receives high praise from both iPhone and Android users, highlighting its user-friendly and efficient design.

However, there are some drawbacks to consider. Interest rates on savings, CDs, and money market accounts remain relatively low, potentially impacting customers' overall earnings. Moreover, not all checking accounts come with fee-free ATM withdrawals and overdraft protection, leading to possible additional charges for account holders.

Best Washington Online Banks

In our search for online banks in Washington, we focused on comparing their interest rates for savings accounts and CDs.

We were also interested in finding out about the other services they offer, like checking accounts, loans, credit cards, and mortgages.

SoFi Bank

SoFi logo
SoFi logo

SoFi Bank

Checking Fees

$0

Checking Promotion

$50 – $300 New customers should deposit $1,000 – $5,000 to get the promotion. Expired on 06/30/2024

Savings APY

up to 4.60%

CDs APY

N/A

In the past, SoFi was mainly known for giving out personal loans and helping people refinance their student and auto loans. But things changed in early 2022 when it became a chartered bank. After that, it began offering checking and savings accounts, making it one of the top online banks in the nation.

The account has some great benefits. There are no monthly fees, and eligible customers get a strong overdraft coverage program for free. People with this account can also enjoy a competitive interest rate on their savings and access a large, free ATM network across the country. If you use direct deposit, you might even get paid up to two days earlier than usual.

SoFi checking last transactions
Track recent transactions on SoFi app (Screenshot taken by our team from SoFi app)

However, there are a few downsides to keep in mind. SoFi doesn't have physical bank branches, so if you prefer doing banking in person, it may not be the best fit. Depositing cash can be inconvenient too, as it comes with fees. And if you're looking for options like CDs or money market accounts, you won't find them with SoFi.

Discover Bank

discover logo
discover logo

Discover Bank

Checking Fees

$0

Money Market APY

4.00% – 4.05%

Savings APY

4.25%

CDs APY

2.00% – 4.70%

Discover Bank is a popular online bank offering various financial services like savings accounts, credit cards, personal loans, and student loans. Instead of physical branches, it operates entirely on the internet, providing access to a large network of 415,000 ATMs across the country (with access to over 60,000 surcharge-free ATMs through the Allpoint® or MoneyPass® networks).

Customers enjoy great benefits, such as cashback on debit card purchases, and no monthly maintenance or overdraft fees. Discover CD rates are very competitive, helping you earn more on your money.

discover bank checking
Discover bank checking (Screenshot from discover.com)

The downside is the absence of physical branches for in-person banking. So, if you prefer face-to-face interactions, this might not be the best fit. Additionally, using ATMs from other banks may come with fees that Discover won't cover, resulting in extra costs for you.

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FAQs

In 2024, the banking sector in Washington is primarily controlled by Chase Bank, KeyBank, and U.S. Bank, with all three institutions boasting more than 120 branches.

The top bank in Washington varies according to what you want, like if you prefer digital banking, high deposit rates, or no-fee checking accounts. Check out our suggested banks above, each with its unique strengths.

Washington's best CD rates vary depending on the term. One bank might offer the best rates for 3 months, while another bank excels with the best rates for 6 months. Explore our recommended Washington banks for high CD rates and compare them with credit unions.

Searching for high savings rates can be tricky, but we've narrowed it down for you. Here are some of the best savings rates in Washington for 2024.

How We Picked The Best Bank In Washington: Methodology

The Smart Investor team conducted an extensive review to identify the best banks in Washington. We assessed them based on four main categories, each with specific features:

  1. Financial Products and Services (40%): We evaluated the range and quality of financial products and services offered by each bank, including checking accounts, savings accounts, CDs, loans, credit cards, and investment options. Banks offering a diverse array of financial products with competitive rates and terms received higher ratings in this category.
  2. Banking Features and Tools (30%): This category assessed the availability and functionality of banking features and tools, such as transfer options, the ability to set savings goals, account linking capabilities, mobile app usability, check deposit options, and other features important for banks. Banks offering a comprehensive suite of features and user-friendly tools earned higher scores.
  3. Customer Experience (20%): We closely examined the overall customer experience, including the ease of account opening, communication with customer service representatives, the usability of online banking platforms and mobile apps, and the responsiveness of customer support. Banks with user-friendly interfaces, efficient digital banking tools, and responsive customer service received higher ratings.
  4. Bank Reputation (10%): Our team analyzed each bank's reputation based on factors such as customer satisfaction ratings, JD Power scores, TrustPilot reviews, and any notable awards or recognitions received. Banks with positive reputations and a history of providing excellent service to customers in Washington received higher ratings.

Within each category, we assigned weights to various features and qualities to ensure a comprehensive evaluation of each bank.

Picture of Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
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Savings Rate: 5.21% APY
Minimum Deposit:
$0
 
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Savings Rate: 5.00% APY
Minimum Deposit:
$5,000
Quontic bank logo
Savings Rate: 4.50% APY
Minimum Deposit:
$100
 
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

PNC bank logo

Promotion:
Up to $400 Open a new, select Virtual Wallet product and receive $500/$2,000/$5,000 or more in qualifying monthly direct deposits within 60 days to earn a $100/$200/$400 bonus.
Subject to state availability
PNC Virtual Wallet ® is available in AL, AZ, CA, CO, DC, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NY, NM, OH, PA, SC, TX, VA, WI, and WV. Virtual Wallet ® is offered in the state of MO with the exception of the Greater Kansas City area. Product availability may vary based on where you open your account and the Zip code of your primary address.

Chase_logo

Promotion:
$300 New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.. Expired on 7/24/2024
Chase Overdraft Assist
With Chase Overdraft AssistSM, you won’t be charged an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day

UpgradeLogo

Fees:
No monthly fees No monthly fees and no overdraft fees. Plus get reimbursed for ATM fees with an active account 
Rewards:
Up to 2% cash back Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases 

Promotion:
$300 Use Promo Code “AXOS300” for a $300 bonus when you apply for a Rewards Checking account
Up to 3.30% APY
to get the maximum rate (up to $50,000) you’ll need monthly direct deposits of $1,500 (0.40% APY), 10 transaction on your debit card (+0.30% APY), average daily balance of $2,500 on Axos Invest Managed Portfolio (+1.00% APY), average daily balance of $2,500 on Axos Invest Self Directed Trading Account(+1.00% APY) and make full monthly payment on loans (mortgage, personal and auto) with Axos account (+0.60% APY).

penfed personal loan

APY on Daily Balances
0.15% APY on daily balances of less than $20,000 or 0.35% APY on daily balances of $20,000 up to $50,000
Get paid up to 2 days early
Set up direct deposits and get your paycheck up to 2 days early

Promotion:
Up to $4,000 New customers may earn up to $4,000 when they open an eligible HSBC Premier checking account from January 8, 2024 through March 27, 2024 and complete qualifying activities:

• Receive a cash bonus of $1,500 when you deposit or invest $100,000 – $199,999.99

• Receive a cash bonus of $2,000 when you deposit or invest $200,000 – $299,999.99

• Receive a cash bonus of $2,500 when you deposit or invest $300,000 – 499,999.99

• Receive a cash bonus of $3,500 when you deposit or invest $500,000+

• Earn an extra $500 when you set up recurring monthly Direct Deposits totaling at least $5,000 for 3 months
Wealth Products & Advice
Get access to wealth products, insights and advice from an HSBC Financial Professional through HSBC Securities (USA) Inc
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

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