How to Choose the Best Bank in Ohio?
To help you choose the right bank for you, we keep in mind the following factors:
- Safety: We look for companies that partner with FDIC-member banks, which means your deposits are insured up to $250,000 per depositor, per bank, for each account ownership category. This insurance is provided by the Federal Deposit Insurance Corporation (FDIC), an independent agency of the United States government.
- Account Services: Most providers offer checking, savings, certificates of deposits, and money market accounts. Fully-fledged banks offer loans, credit cards, retirement accounts, and investments.
Fees: Be aware of banks that charge monthly maintenance fees or fees for performing transactions like ATM withdrawals, wire transfers, late payments, overdrafts, or dipping below the minimum balance.
Interest Rates: According to the FDIC, traditional banks generally offer the national average savings rate (0.35% as of Feb 2023). Credit unions and online banks tend to provide better rates to maximize your savings efforts.
- Convenience: For in-person support, a regional bank or credit union may suit you well. Mobile banking apps and online accounts provide 24/7 access to your funds - directly with your smartphone.
- Customer Service: Brick-and-mortar banks may be useful for personalized wealth management, such as loans, retirement accounts, and investments. Other providers have user-friendly platforms with phone and chat support, private messaging, and virtual assistants.
What are the best banks in Ohio?
- PNC Bank
PNC is a great option for students who want to open an account in Ohio. The bank has more than 297 branches in 161 different cities and towns in the state. In terms of what they offer, PNC offers a lot. As a student, you have the option to get student loans, credit cards. Also, you can even open a special account called Virtual Wallet Student Account with no charges for the next 6 years.
- Civista Bank
Civista Bank is among the best rated banks in Ohio. This Ohio Bank is committed to helping its customers and communities address financial needs and goals. Basically, Civista Bank offers personal, business banking, and wealth management. It also provides a choice of saving and checking accounts which provides excellent value for the customers.
- Park National Bank
Park National Bank is a leading provider of banking, credit cards, loans, mortgages and more to individuals and businesses across the country. With a history of over a century, Park National Bank has a strong commitment to service, integrity and community involvement. Whether you need a checking account, a home loan, or a financial plan for your retirement, Park National Bank can help you achieve your goals with confidence and ease.
You can access your accounts anytime, anywhere with our online banking and mobile app features. You can also enjoy the benefits of Zelle®, a fast and secure way to send money to friends and family. At Park National Bank, you mean more to us than just a number. You are part of our family of community banking teams that deliver an exceptional breadth and depth of resources to meet your unique needs. Visit us online or at one of our locations today and discover why Park National Bank is where you mean more.
- Woodforest National Bank
Next on our list of best-rated banks in Ohio is Woodforest National Bank. The bank has 78 Offices in 72 cities of Ohio and over 700–throughout 17 states in the U.S. including Illinois, Texas, Virginia, North Carolina, Alabama, Florida, South Carolina, and more.
It offers various checking accounts, savings accounts, CDs, personal loans, auto loans, mortgages, and credit cards.
It would be best to get over the $200 mark as quickly as possible, though, as doing so will cancel the $3 monthly service fee. To learn more about this top bank in Ohio.
- First Financial Bank
Origins date back to 1863, First Financial Bank has existed for over 150 years, continuously delivering outstanding service, dedicated to helping people and enterprises meet their targets and find financial success.
With over 66 Offices in 35 cities in Ohio. It also goes beyond offering a first-class experience in personal community service to maintain lifelong partnerships.
Another unique feature of this top banking firm is that it provides the services of a large bank, while also providing customer service and offering the benefits of a community bank as well.
- Key Bank
Key Bank can be among the best-rated banks in Ohio near you because it has over 204 branches in 120 different cities and towns in the state of Ohio and 1200 more offices in 15 states.
The bank offers various account options which include Checking accounts, Savings Accounts, and Investment Accounts. Including credit cards, Mortgages, and Loans (Personal Loans, Home Equity Loans, and Home Equity Lines of Credit.
Interestingly, the bank has a good customer service system which can be accessed through many channels. And also cheaper savings account monthly fees.
The only drawback is that it has low rates on savings accounts and certificates of deposit. Also, overdrafts sometimes can be expensive.
- Chase Bank
Chase Bank is ideal for high school and college students with over 249 branches in 143 cities of Ohio. Aside from that, it’s among the best banks in Cleveland Ohio that offers lots of banking services to Americans.
However, the bank offers various account options including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans, and payment processing.
Note, Chase Bank has a minimum deposit of $25 for saving accounts and no minimum balance required for checking accounts. Also, they charge a monthly fee of $12 which can be waived if you maintain a $1,500 account balance daily.
Another interesting thing about Chase’s savings account is that you get the chance to earn up to $200 just by opening the account and maintaining the minimum balance for 90 days.
- U.S. Bank
U.S. Bank is one of the largest banks in the U.S. and is best for joint checking accounts. It’s among the best banks in Columbus Ohio with over 259 Offices in 142 cities of Ohio.
The bank offers savings and checking accounts with no maintenance fee once you have an average daily balance above $1500. Additionally, there are platforms for online banking, mobile check deposit, and bill payments.
Note, U.S. Bank minimum deposit is $25 and its overdraft fee is $36. To learn more about this top bank in Ohio.
- Fifth Third Bank
Fifth Third Bank is one of the best banks in Cleveland Ohio with over 290 branches located in 147 cities in Ohio. It’s known as a regional midwest bank that offers top-notch banking services.
Basically, Fifth Third Bank offers three checking account options- Standard, Premium, and Elite. They also offer special accounts such as preferred checking accounts, student banking, military checking accounts, express banking, and ABLE checking. All are for different categories of individuals.
That means, no matter your gender, profession, or status, Fifth Third Bank has an option that can best suit you.
That aside, the bank operates a zero minimum deposit account and has checking fees that range from $0 to $25.
- Huntington National Bank
First on our list of the best banks in Ohio is Huntington National bank established in 1866 in Cleveland Ohio. The bank has more than 450 offices in 215 different cities and towns in Ohio.
It’s recorded as the largest bank in the state.
Basically, the bank offers different account options which include basic, standard, and premium checking accounts. With any of these accounts, you can carry out online banking, mobile check deposit, and online bill payments.
You won’t need to worry about maintenance charges if you are operating their basic checking account because it is free. Even the $25 fee they will charge you if you have a premium account can be waived if your balance is over $25,000.
The only downside of this bank that might discomfort you is the fact that their overdraft fee increases from $23 to $37.50 if you overdraw twice in a year. Aside from that, Huntington National bank is worth going for.
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