Best Banks and Credit Unions in Florida

The best online banks and credit unions in Florida offer higher interest rates on savings accounts, lower fees, and a variety of technologies to make banking easier.

If you're looking for the best banks and credit unions in Florida, you've come to the right place. Here we'll provide an overview of some of the best options available in the state of Florida, based on factors like customer satisfaction, fees, and features.

Bank in FLSavings APYNo. of FL branches
Suncoast0.050 % to 0.950 % APY74
Ally Bank0.75% APY0
Wells Fargo0.01% to 0.02% APY568
Bank of America0.01% to 0.04% APY510
Chase0.01% to 0.05% APY411
Regions0.01% APY307
PNC0.01% to 0.03% APY173
TD Bank0.01% to 0.05% APY157
Fifth Third Bank0.01%153
SouthState Bank0.01%126

Suncoast Credit Union

Why it stands out: Suncoast Credit Union is the largest credit union in Florida and one of the largest in the United States. It has over 1,000,000 members and assets of over $15 billion.

Suncoast Credit Union has consistently been ranked as one of the best credit unions in Florida. It offers a wide range of products and services, including checking and savings accounts, loans, and investment options.

Suncoast Credit Union is one of the largest credit unions in Florida and offers a wide range of products and services, making it a great option for those looking for comprehensive banking solutions.

Customers can take advantage of free checking and savings accounts, low-rate loans, and competitive rates on credit cards. Suncoast also offers mobile banking and 24/7 customer support.

As a community credit union — anyone who lives, works, attends school or worships in the counties this credit union serves in Florida is eligible for membership — the first simple step to opening an account and start saving.

If you're not sure if you're eligible, they've made it easy to check. Just answer the questions on their website to join more than half a million members already enjoying the Suncoast difference — you can open your account online or walk in to one of its convenient branch locations.

Bank of America

Why it stands out: Bank of America has over 500 branches in Florida and a sign-up bonus of $100.

Checking accounts aren't known for paying interest, and if they do, the rate is typically low. But with Bank of America's sign up bonus, you can get a $100 bonus.

To earn the bonus, all you have to do is open a new Bank of America Advantage Banking account through this offer page. Once that's done, you should see the $100 deposited into your account within 60 days.

Then, set up and receive Qualifying Direct Deposits of $1,000 or more into that account within 90 days of account opening.

Even if you don't qualify for the bonus, Bank of America offers several other features that make it a great choice for Floridians. These include free online bill pay, mobile check deposit, and a network of thousands of ATMs statewide.

If you're looking for a brick-and-mortar bank with branches throughout Florida, Bank of America is a great option.

However, the checking account you choose will determine how much money you spend each month in monthly fees. Depending on which checking account you open, it may cost $4.95, $12, or $25 per month.

Pro Tip: In case you want a bank account without any monthly fees, you'll want to look into digital bank accounts.

Ally Bank

Why it stands out: When it comes to savings accounts, you'll likely want a bank that pays a high interest so that you may save more money in the long run. This indicates that an internet bank like Ally is a top choice.

Ally Bank currently pays a 0.75% APY, which is one of the highest rates available today. There are no monthly maintenance fees or minimum opening deposit requirements for this bank.

The Ally High Yield Savings Account has been a major force in the high-yield savings market for several years, and it's won many accolades for online banking. Although it's an internet bank, you can use over 40,000 Allpoint ATMs throughout the United States for free.

Ally makes it simple to save for particular objectives. You may create separate accounts for each objective, but Ally has a bucket function that allows you to record several goals in the same account. To keep track of your development and stay inspired, give each one a name, such as “Emergency Fund” or “Travel Account.”

While Ally is a very competitive bank in Florida, other online banks provide comparable online high-yield savings accounts.

How Did We Choose the Best Banks in Florida?

To create our list of the best banks in Florida, we looked at a variety of factors, including fees, account options, customer service, and mobile app ratings. We also considered each bank's overall reputation and financial health.

The best banks in Florida offer a variety of account types and features, low fees, and good customer service. Some even have rewards programs that give you cash back or points when you use your debit card.

When choosing a bank, it's important to consider your own financial needs and preferences. If you're a student or recent graduate, for example, you might want a bank that offers free checking and savings accounts with no minimum balance requirements. And if you travel frequently, you'll want to make sure your bank has branches and ATMs nationwide.

Frequently Asked Questions

Why trust our recommendations?

We've been reviewing and rating banks and credit unions for over 7 years. Our team of experts has extensive experience in the banking industry, and we use our knowledge to create unbiased, well-researched reviews.

What is the No. 1 bank in America?

RankBank NameTotal Assets
1JPMorgan Chase & Co.$3.31 trillion
2Bank of America Corp.$2.52 trillion
3Wells Fargo & Co.$1.78 trillion
4Citigroup Inc.$1.67 trillion

What's the safest bank to put your money in?

There is no single “safest” bank, as all banks are FDIC-insured (up to $250,000 per account type). However, some banks may offer additional safety features, such as insurance against fraud or theft.

When it comes to choosing a bank or credit union in Florida, there are many factors to consider. But whether you're looking for the best rates, the best customer service, or the best mobile app experience, we've got you covered.

Other Digital Banks to Consider

Digital banks in the US are the latest trend these days. Their convenience, ease of use, and innovative features make them an appealing option. Compared to traditional financial institutions, online banks can’t be beaten. 

Digital banking lets you perform several transactions, like transfer funds, pay bills online, keep track of account statements, and lots more. You don't have to wait for the bank working hours or stand in long queues to carry out an online transaction.

These are the best online banks in the USA that offer low minimum deposits, low monthly service fees, and a robust mobile banking architecture.

CIT Bank 

CIT as a parent company has spanned many generations. It was founded as a full-fledged Commercial Investment Trust in the year 2000.

CIT bank offers a full-service banking platform with a broad range of custodial accounts. Unlike other traditional banks, CIT allows you to structure your saving options depending on the account type you desire.

CIT accounts options are: checking accounts, savings accounts, CDs, and money market accounts.

CIT bank allows for a $100 minimum opening deposit but doesn’t charge monthly maintenance fees. CIT also offers active yields on its savings and CD accounts. The checking account earns variable interest and APY of up to 0.25%.

They also offer personal loans and credit products to customers with a wide range of options to choose from. 


Aspiration is a go-to option if you are looking for a suitable checking and savings account from a convenient and environmentally conscious and socially responsible bank.

This financial company helps you neutralize your carbon footprint by planting a tree every time you swipe your card.

They offer a cash management account and savings account. Aspiration offers fee-free withdrawals at Allpoint ATMs. You can also earn 0.25% APY on the first $10,000 of your Spend and Save account and 0.10% APY on funds over $10,000. 

You can receive up to 10% cashback on your debit card purchases when you spend at companies part of the ‘Conscience Coalition.’

Aspiration also gives you cell phone protection and offers an Identity fraud expense reimbursement of up to $1,000 in case of identity theft.


Unlike other traditional banks, this crypto friendly bank, SoFi, does not charge an annual fee.

Members can earn 2% unlimited cash back, which can be redeemed to help pay a SoFi loan or converted into crypto to trade or invest.

In addition, members can get their APR lowered by 1% by making timely minimum monthly payments for 12 consecutive months.

There are also numerous benefit that comes with SoFi:

  • Guaranteed cell phone insurance of about $1,000
  • They help protect your MasterCard ID, especially from theft.
  • Access to free spending and budgeting tools.
  • No foreign transaction fees.


Current digital bank is a checking account and payment service that enables customers to buy products and receive payments through a safe digital system.

A major advantage of Current is the ability for parents to set up an account for their children to keep track of their spending.

However, it’s open to all age groups and encourages healthy saving habits. Members can earn up to 4% APY on their savings.

Current also offers various cashback offers—for example, it partners with global retailers to provide cashback for products bought.

Members can also earn up to 15 points for each dollar spent on a purchase from a partner company. It also offers free instant transfers to other accounts within the app.


Chime seeks out the welfare of its members, and thus, provides a checking account for recurring bills for their day-to-day expenses.

Chime is decent for customers seeking a simple, mobile-friendly bank account with no monthly maintenance fees. 

In addition, it allows customers to make additional purchases using the Chime Visa Debit card. And there are no overdraft fees for purchases and withdrawals of up to $200 with Chime SpotMe.*

Customers can choose to save for a specified reason or hold funds in their savings accounts. Their high yield savings account lets you earn 1.50% Annual Percentage Yield (APY)¹ with no minimum deposit.

¹The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of August 25th, 2022. No minimum balance required. Must have $0.01 in savings to earn interest.

*Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each month. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Condition.

*Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.


Empower is a digital bank that allows you to make purchases and access your money from the convenience of your home. They offer banking services and structured budgeting tools to help you manage your money to suit your lifestyle. 

During emergencies, they provide members with cash advances with no interest, late fees, or credit history checks.

They also help customers earn up to 10% of their cash back when purchasing products. Their main products and services include a debit card, cashback rewards, budgeting tools (Expense tracking & AutoSave), and cash advances.

Their AutoSave funds are FDIC insured through the NBKC bank, and there are no overdraft fees or account minimums to get started.

However, Empower charges an $8 monthly fee and a foreign transaction fee of 1%. Members also earn a 0.01% APY. 

M1 Finance

M1 Finance is an online investing platform that offers members self-directed trading and automated investing instruments. There are no trading fees, and all you need is $100 to secure an investment account.

Although M1 doesn’t offer a money market account, it has over 80 professionally designed portfolios.

This digital platform also offers members fractional shares, margin lending, custodial accounts, and digital banking.

It uses a pie-based model; therefore, you can easily choose stocks, portfolios, and ETFs to invest in. It also helps you determine what percentage of your money to allocate for every investment.


As trends change, your ability to bank safely at your convenience is an excellent way to gain control over your finances.

In conclusion, the best bank for you will depend on your specific financial needs and preferences. However, all of the banks on this list are FDIC-insured and offer a wide range of products and services.


🏆 Our #1 Checking Accounts Choice for 2024
Primary Rating:
Chase Total Checking® Account

✓ Earn up to $300 when you open a new Chase Total Checking® account and complete qualifying activities

✓ Manage your accounts, deposit checks, transfer funds, plan a budget and more - all from your device

✓ Over 4,700 branches, the largest branch network in the U.S. plus access to more than 15,000 ATMs

🏆 Our #1 Checking Accounts Choice for 2024
Primary Rating:
Chase Total Checking® Account

✓ Earn up to $300 when you open a new Chase Total Checking® account and complete qualifying activities

✓ Manage your accounts, deposit checks, transfer funds, plan a budget and more - all from your device

✓ Over 4,700 branches, the largest branch network in the U.S. plus access to more than 15,000 ATMs