Whether you’re relocating or looking to open your first checking account, finding the best banking options in Colorado is often challenging. Should you choose a local bank or opt for one with a strong national or international presence? This guide will help you find the best bank in Colorado for you.
The comparison table below shows a list of the top banks in Colorado:
|Bank||Number of branches||Number of ATMs|
|Bank of Colorado||46||72|
|Community Banks of Colorado||45||62|
|Great Western Bank||20||20|
|Bank of the West||72||114|
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 April 2022.
1. Bank of Colorado
The Bank of Colorado is one of the top choices for anyone seeking a local bank in the state. With 46 branches in 33 cities and 72 ATMs scattered across Colorado, the bank addresses personal customers and local businesses of any size.
Founded in 1900 in Fort Collins, the bank owns assets totaling $4 billion and deposits of about $3 billion, giving all customers the sense of security they need from a financial institution.
Keeping up with the times, this is one of the most user-friendly banks in Colorado. Its most popular banking product is the Free Checking Account, which comes with no fees. A minimum initial deposit of $100 is required to open the account.
Small businesses can also benefit from $0 fees with a Free Checking Account suitable for companies making less than 500 transactions per month. Other products include savings accounts, loans, investing, and cash management services.
Website: Bank of Colorado
2. Community Banks of Colorado
The Community Banks of Colorado is one of the largest banks in Colorado originally established in the state. It is now owned by National Bank Holdings Corporation, a well-capitalized bank holding company with $8.8 billion in total assets and $7.7 billion in total deposits.
The bank offers personal, business, and commercial services ranging from checking accounts to treasury management and commercial loans.
Personal users can open a checking account with a minimum initial deposit of $100. Monthly service fees vary from $5 to $25 depending on the type of account selected, but the fee is waived for customers under 25 years of age.
Ideal for students and young people, the bank also gives personal customers the possibility to open an account online without visiting the branch.
Website: Community Banks of Colorado
3. Alpine Bank
Formerly known as Roaring Fork Bank, Alpine Bank was established in Carbondale in 1973. Over the past decades, the financial institution has seen exponential growth and is now serving customers in 28 cities across the state.
As one of the best small banks in Colorado, Alpine Bank offers a wide range of services that include wealth management and investment.
Like Community Banks, this is one of the best banks for youth in Colorado, but it is also a good choice for seniors.
Its Youth Checking account offers simplified banking for young customers and comes with unlimited check writing and no maintenance fees. Similarly, customers age 60 or older can opt for an interest-bearing Golden Edge Checking account that also includes unlimited check writing and no monthly maintenance fee.
Both account types require no minimum deposit to open. The Golden Edge Checking account also includes an overdraft privilege and personal credit card (subject to approval).
Website: Alpine Bank
4. Key Bank
A subsidiary of KeyCorp, Key Bank is one of the best banks in Colorado for customers with African, Asian, Hispanic, or Jewish heritage.
Committed to providing financial services to diverse local communities, Key Bank maintains 56 branches and 52 ATMs across the state. Nationwide, the bank is present in 39 states with almost 1,200 branches and over 1,500 ATMs.
Most financial services address personal customers and small businesses. Two of the most popular personal checking accounts from the bank include Key Bank Hassle-Free Account and Key Smart Checking.
Both require a $10 minimum opening deposit. However, customers don’t have to maintain a minimum balance or pay a maintenance fee.
The former includes an overdraft facility (subject to approval), whereas the latter includes paper checks.
Business checking accounts require a minimum opening deposit of $25. The monthly maintenance fee varies from $5 to $25 and can be waived by maintaining a minimum balance.
Other services include wealth management for personal customers and commercial financing.
Website: Key Bank
If you’re looking for banks in Colorado with free checking accounts, look no further. FirstBank’s offering includes several free personal checking accounts and gives businesses of all sizes the possibility to waive the monthly maintenance fee.
Customer-friendly features also include the possibility to open a checking or savings account online for personal customers.
While the bank doesn’t require customers to maintain a minimum balance, it reserves the right to charge an inactivity fee of $10 per month.
Like most modern banks, FirstBank includes online and mobile banking facilities. Other financial products include loans, credit cards, and treasury management.
Like the Community Banks of Colorado, FirstBank is a division of National Bank Holdings Corporation. In other words, it has access to billions in total deposits and assets and can guarantee safe banking to all its customers.
6. Great Western Bank
A division of First Interstate Bank, the Great Western Bank is one of the top banks in Colorado in terms of total assets – $12.39 billion.
As you can expect, it offers an array of financial services to personal and business clients. However, what makes it special is the range of financial products tailored for agricultural businesses.
In addition to business checking accounts that require no minimum balance to open and with monthly service fees that can be waived, the bank has a simple approval policy for agricultural business loans and offers crop insurance services to businesses of all sizes.
Personal users can open a checking account with a $25 minimum deposit. The monthly service fee can be waived in a number of ways, and the bank offers a specific checking account to students and young adults.
Personal customers can also apply for loans or opt for investing and wealth management services from the bank.
Website: Great Western Bank
7. U.S. Bank
Finding banks in Colorado that don’t use ChexSystems is challenging to say the least, but that doesn’t mean you don’t have options.
One of the best second chance banks in Colorado – and the rest of the nation – is the U.S. Bank.
While the bank uses ChexSystems, its Safe Debit Account is a perfect option for individuals looking to open a new checking account regardless of their past history. It doesn’t have bells and whistles, but it can cater to most people’s needs.
This account doesn’t come with paper checks but offers no overdraft fees. You will have to pay back any amount owed before you can use your account or debit card again, though.
If you’re not concerned about ChexSystems, U.S. Bank is still a valid option. As one of the largest banks in the United States and the largest in Colorado, the financial institution offers numerous services to students, professionals, retirees, and businesses alike.
Website: U.S. Bank
8. Wells Fargo
The third-largest bank in the U.S. and the second-largest bank in the state based on the number of branches, Wells Fargo, is one of the best consumer banks in Colorado.
You can find it in 56 cities across the state and opt for banking solutions ranging from checking and savings accounts to corporate and investment banking.
Not only is Wells Fargo one of the best consumer banks, but it is also one of the best banks for businesses of all sizes.
The most popular personal checking account is Everyday Checking. You can open it with a $25 minimum deposit and waive the $10 monthly fee by maintaining a minimum daily balance. The account includes student banking advantages and standard features like check writing ability.
Businesses can also opt for advantageous checking accounts, revolving lines of credit, loans, credit cards, and merchant services.
Website: Wells Fargo
9. Chase Bank
The largest bank in Colorado based on assets and the third-largest based on the number of branches in the state, Chase Bank is the go-to option for myriads of consumers.
With 114 Chase banks in Colorado and over 130 ATMs scattered across the state, you can easily find your way to a nearby cash machine or local branch. But its presence is not the only reason personal customers and businesses prefer this bank.
Chase Bank has total assets of over $3 trillion, which means they know how to take care of your money and have the funds to support customers with loans and credit lines.
A varied banking offer includes checking accounts for kids, students, and young adults, in addition to their standard and premium accounts – the bank requires no minimum opening deposit, and you can apply online. You can also apply for loans, credit cards, or mortgages. Home equity options also make it easy to reapply for a mortgage in case you want to move into a bigger home or apply for a line of credit.
Business and commercial clients can also choose from various checking accounts and multiple financial services.
Website: Chase Bank
10. Bank of the West
One of the best international banks in Colorado, Bank of the West, is a subsidiary of French group BNP Paribas and one of the largest foreign-owned financial institutions in the United States.
With the strongest environmental policies of any major bank in the U.S., the Bank of the West is a good choice for environmentalists and consumers who appreciate institutions with an eco-friendly approach. It goes without saying that you can choose from competitive financial products and services.
Perhaps the most sought-after financial product for personal customers is the 1% For The Planet Checking account.
You can open the account directly online with any minimum deposit of $0.01 or more. The $10 monthly service fee is also easy to waive with any deposit of $0.01 or more per statement cycle. The bank donates 1% of net revenues obtained from the account to environmental nonprofits.
Personal and business clients can opt for a variety of other checking accounts and benefit from free ATM transactions at any ATM in the BNP circuit.
Website: Bank of the West
11. ANB Bank
ANB Bank is one of the best small banks in Colorado, but small doesn’t mean weak. Although it only has 23 offices in the state, it is backed by Sturm Financial Group, Inc. and has financial strength embodied in over $3 billion in assets.
Primarily addressing businesses, ANB offers numerous dedicated services in addition to a variety of checking and savings accounts.
A business analysis service enables specialists to understand your business and recommend the best account for you. Business lending options range from overdraft lines and credit cards to residential construction loans and loans for food and agribusinesses.
Trust and estate services, as well as investment management services, address all types of consumers.
Personal clients can also choose from a variety of banking options, savings accounts or apply for personal and home loans. Among the most popular products in this range, the Free Checking account is easy to open with a $25 initial deposit and comes with no monthly service fee.
Website: ANB Bank
12. PNC Bank
PNC Bank has made its way to the list of banks in Colorado thanks to the inclusive range of products and user friendliness.
Keeping up with the times, the bank focuses on online and mobile banking. All personal checking accounts are called Virtual Wallet and include Low Cash Mode, a tool designed to help customers avoid overdraft fees.
The mobile app integrates with Zelle for fast and secure transfers, and you can open an account online with no minimum opening balance (an opening deposit of $25 is required in-branch).
Personal consumers aside, PNC Bank is also a great option for small businesses. The Business Checking for Basic Needs is the institution’s most popular choice for small businesses and startups. The account requires a minimum opening deposit of $100 and comes with no monthly service fee for the first three months.
After the initial period, the maintenance fee is easy to waive by maintaining an average collected balance of $500 per month.
Website: PNC Bank