Ranked #1 Most Trustworthy Bank in America (2024)

FAQs

What is the most trustworthy bank in the United States? ›

Following one of the most successful years in United's long history, United Bank has been named the Most Trustworthy Bank in America by Newsweek for 2023.

1. JPMorgan Chase. JPMorgan Chase, or Chase Bank, is the biggest bank in America with nearly $3.4 trillion in assets. It boasts a vast network of over 4,800 physical branches and more than 15,000 ATMs.

J.P. Morgan Chase is the number one bank in America in terms of total assets held, according to the Federal Reserve.

State Bank of India (SBI): As it is managed by the Indian government and a few shareholders, the State Bank of India may be among the most reliable financial institutions. What made SBI Bank trustworthy among other banks in India?

Wells Fargo, along with thousands of other financial institutions, is FDIC-insured. FDIC insurance limits cap at $250,000.

Capital One received the highest customer satisfaction score among the largest banks in the United States as of 2023, with a score reaching 706 points out of 1,000. JPMorgan Chase, TD Bank, and U.S. Bank followed, while Bank of America, Wells Fargo, and Truist received the lowest scores.

Generally, credit unions are viewed as safer than banks, although deposits at both types of financial institutions are usually insured at the same dollar amounts. The FDIC insures deposits at most banks, and the NCUA insures deposits at most credit unions.

Is Bank of America financially safe? ›

Is Bank of America FDIC insured? Yes, all Bank of America bank accounts are FDIC insured (FDIC #3510) up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.

Money coach and certified financial planner Ohan Kayikchyan says it can make sense for a household to maintain four accounts: one checking account for monthly recurring bills and another for variable expenses, plus one savings account for emergency funds and a second for other savings goals.

The worst banks are Wells Fargo and Citibank. Wells Fargo is the worst bank overall, with a high percentage of unresolved complaints and loss of Better Business Bureau accreditation. Citibank has a string of high-profile cases involving operational chaos and regulatory fines.

Is Chase Bank FDIC insured? Yes, all Chase bank accounts are FDIC insured (FDIC# 628) up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.

To find out if your bank is FDIC-insured, you can contact the bank and ask, look for an FDIC sign at the bank's premises, call the FDIC at 877-275-3342, or look up the bank in the FDIC BankFind directory.

Your money is safe at Capital One

The FDIC insures balances up to $250,000 held in various types of consumer and business deposit accounts.