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Top 12 Best Banks in Arizona: 2023 Comparison


If you have recently moved to Arizona and your financial institution has no branches in the state, one of the first things to look into is finding a local bank. Whether you need a new personal or business account, this guide can help you identify the best banking options in Arizona for you.

Thomas Hawk / Flickr / CC BY-NC 2.0

The comparison table below shows a list of the top banks in Arizona:

BankNumber of branchesNumber of ATMs
National Bank of Arizona6060
Alliance Bank of Arizona 1014
Chase Bank228560
Wells Fargo Bank176503
BMO Harris Bank45750
Bank of America129197
U.S. Bank75140
MidFirst Bank2035
PNC Bank64136
WaFd Bank3031
Bank of the West1735
Ally Bank0400+

Note: Banks are not ranked in any particular order. Data is sourced from the official branch and ATM locators for each bank and is correct as of March 2022.

1. National Bank of Arizona

One of the best local banks in the state, the National Bank of Arizona, is a division of Zions Bancorporation, N.A., and has access to assets exceeding $65 billion. 

The bank currently has 60 full-service branches and ATMs located in most cities across the state. In addition to banking services and loans for personal and business customers, the financial institution also offers wealth management services, including wealth planning, investment management, and risk analysis. 

Whether you need a personal or business account, the bank requires a $50 minimum opening deposit. The monthly maintenance fee starts from $8, but the bank gives you the possibility to waiver it if you meet certain conditions. 

Other fees include non-NB|AZ and international ATM transactions that cost $3 per transaction or 3% of $US amount, respectively.

Website: National Bank of Arizona

2. Alliance Bank of Arizona 

If you’re looking for small local banks in Arizona, the Alliance Bank of Arizona might suit your needs. Much smaller than the National Bank of Arizona, it only has ten full-service branches and 14 ATMs. 

Yet, this is one of the most solid banking options in the state. Owned by the Western Alliance Bancorporation, this financial institution primarily addresses business clients. Opening a business checking account requires a $100 opening deposit. The monthly service charge of $16 can be waived by using the commercial card or maintaining a minimum daily balance of $2,500. 

Personal customers must also deposit a minimum of $100 to open a checking account. However, the monthly service charge is only $5. Similar to business customers, personal clients can waiver the service fee with a monthly recurring deposit or by maintaining a minimum daily balance of $500.

Website: Alliance Bank of Arizona

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3. Chase Bank

With 228 full-service branches and 560 ATMs Chase banks in Arizona, this financial institution is more than one of the largest banks in the state. It is one of the largest banks in the entire nation, which makes it a perfect choice for personal and business clients who travel frequently.

Nationwide, the bank has over 4,700 branches and 16,000 ATMs, which means that you can take care of your banking needs or withdraw cash without worrying about ATM transaction fees, whether in Arizona or in other states.

Financial products range from checking and savings accounts to loans and wealth management. 

Some of the most sought-after products are the kids’ and high school student accounts. These checking accounts come with no monthly fee and give parents or caregivers the possibility to limit card transactions. 

Adding to the reasons for choosing this bank, Chase doesn’t require a minimum deposit to open a personal checking account and charges no fees for transactions at non-Chase ATMs and wire transfers. Business clients also benefit from top banking conditions and numerous services.

Website: Chase Bank

4. Wells Fargo Bank

Only slightly smaller than Chase, Wells Fargo Bank boasts 176 full-service branches and 503 ATMs across the state. Similar to Chase Bank, it is one of the largest banks in Arizona and the rest of the U.S., catering to personal customers, small businesses, and large corporations alike.

One of its most popular products is the Clear Access Banking checkless account addressed to account owners 13 years or older. 

This account comes with no monthly fees for customers between 13 and 24 years old and a $5 monthly service fee for those 24 years and up. 

The Everyday Checking account has a more expensive monthly maintenance fee but is a better option for clients looking for an overdraft service. Primary account owners aged between 17 and 24 years pay no monthly fee, and you can waiver the fee completely by maintaining a $500 daily balance or through direct deposits. No doubt, one of the best banks for teenagers.

Website: Wells Fargo Bank

5. BMO Harris Bank

Part of the Federal Reserve Service, the BMO Harris Bank is one of the best banks in Arizona for college students and young professionals. 

The bank doesn’t have as many full-service branches as Wells Fargo or Chase, but it beats all other banks in the state with the number of ATMs: 750. 

Personal customers looking for a no-fuss, $0 monthly maintenance fee bank account can opt for the BMO Harris Smart Advantage Account. If you’d rather pay a low monthly service fee but no fee for an overdraft service, the Smart Money Account offers similar conditions (and is still free for customers under 25). 

Both accounts require a minimum initial deposit of $25 and include unlimited free-of-charge transactions at the BMO Harris and Allpoint ATMs.

Small businesses and start-ups can also benefit from advantageous banking conditions. The BMO Digital Business Checking includes unlimited ACH transactions and incoming wire transfers as well as free cash deposits up to $1,000. All business accounts give clients the possibility to waiver the monthly service fee.

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Website: BMO Harris Bank

6. Bank of America

Undeniably the best national bank with branches in Arizona, Bank of America is a perfect choice for customers who want all their banking needs met by a major financial institution. 

Students under 25 looking for banks in Arizona with free checking accounts can find several options from this bank. 

Business Advantage Banking is a service designed for small businesses who want to keep business running costs as low as possible. For instance, the Business Advantage Fundamentals checking account has a monthly service fee of $16, which can be waived in a number of ways. At the same time, the bank charges no annual fee for a business credit card associated with the account.

Large businesses and institutions can also pick from a plethora of standard or tailored solutions. 

Website: Bank of America

7. U.S. Bank

Giving people a chance to bank again, the U.S. Bank is one of the few banks in Arizona that don’t use ChexSystems. At least for the Easy Checking Account, but that’s still something considering how hard it is to open a new checking account if you’ve had troubles in the past.

This account is more expensive compared to other banking options, but you can waiver the $6.95 monthly maintenance fee in a number of ways. The account is also free for customers aged 65 or greater.

Students can opt for a dedicated, free checking account, whereas a checkless account offers an alternative to those who want a debit card but don’t need to write checks. 

With more than 2,000 branches in 26 states (75 of which in Arizona alone) and 170 ATMs in the state, the U.S. Bank is a good choice for anyone looking for stress-free banking solutions.  

Website: U.S. Bank

8. MidFirst Bank

If you don’t necessarily care about the bank size but would rather opt for one of the best banks in Arizona in terms of customer service, the MidFirst Bank could suit your needs.

The Oklahoma-based institution runs 20 full-service branches in Arizona and operates 35 ATMs in the state. Nevertheless, the bank offers multiple free banking solutions, including free online and mobile banking as an alternative to standard checking accounts.

All personal accounts – except for one dedicated to students under 24 years of age – require a $100 initial deposit to open.

In addition to personal banking, the MidFirst Bank also offers multiple banking and finance management solutions to business and commercial clients – most of which can be customized to suit your business needs.

Website: MidFirst Bank

9. PNC Bank

A subsidiary of PNC Financial Services Group, the PNC Bank is one of the top banks in Arizona, addressing customers who want to bank with a major financial institution. 

There are 64 full-service branches and 136 PNC Bank ATMs scattered across the state, but the national network counts over 2,600 branches and 10,000 ATMs.

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The Virtual Wallet checking accounts allow personal customers to keep their spending under control with an intuitive app. Small businesses and corporations can also find numerous dedicated products, and all customers can avoid the monthly account maintenance fee.  

In addition to everyday banking, the PNC Bank is one of the most popular financial institutions for borrowing and business lending, thanks to its low-interest rates and (usually) flexible repayment terms.

Website: PNC Bank

10. WaFd Bank

Washington Federal (WaFd) is another institution that has made it into the top 10 banks in Arizona for customers in search of cheap and stress-free banking. 

Their most popular personal service is undeniably the Free Checking account. You can open it with a minimum deposit of $25, and you don’t have to maintain a minimum daily or monthly balance to waiver the fees – the bank charges no maintenance fees for this account. 

Perhaps the only downside is that it doesn’t have an overdraft line of credit available. However, personal customers can opt for other checking accounts that include overdrafts.

Business clients can open a checking account with a minimum deposit of $100. All accounts include online banking with Bill Payment and eStatements. 

WaFd has a limited presence in Arizona (30 full-service branches and 31 ATMs) but brags with over 37,000 ATM locations across the nation.

Website: WaFd Bank

11. Bank of the West

Headquartered in San Francisco, California, the Bank of the West is one of the most popular small banks in Arizona and nationwide. However, even if it has only 17 full-service branches in Arizona and about 600 across the nation, this bank is part of a multinational institution and offers customers a plethora of benefits.

A subsidiary of French international banking group BNP Paribas S.A., the Bank of the West strives to infuse European banking practices into American culture. This includes flexible banking solutions with no minimum balance requirements and a $0 monthly service charge as long as your account receives at least one deposit (from any source) per month. 

As a client of a multinational banking group, you can also benefit from free ATM transactions in 68 countries, as long as the ATM belongs to a BNP bank.

The bank also offers multiple banking and financial solutions for businesses of all sizes and is one of the best options for women-owned businesses.

Website: Bank of the West

12. Ally Bank

One of the best online banks in Arizona, Ally Bank is the best banking option for personal and business customers who prefer digital banking. It has no branches and ATMs, but you can use any Allpoint ATM in the U.S. free of charge.  

Like most online banks, Ally Bank offers competitive banking solutions. You can open a checking account from the comfort of your home in just a few minutes and without worrying about low daily balance fees, monthly service fees, or banking fees for ACH and incoming wire transfers. 

In addition to checking and saving accounts, Ally Bank also offers a variety of personal loans, mortgages, and credit management solutions. 

Business services include corporate finance, ventures, and landing, but business customers can’t benefit from a dedicated checking account. Ally Bank is still a good option for sole proprietorships and freelancers who can use the Interest Checking Account for their business needs.

Website: Ally Bank