Best Banks in Denver in 2022 | Rates, Account Types, Min. Deposit

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With 96 banks and 75 credit unions in Denver and its environs (, searching out the best bank for your financial safety will be a herculean task.

Many banks will compete for your attention with mouth-watery offers that will most likely be irresistible. To be safe, how about you read this guide and get enlightened about the best banks in Denver before committing your money to any?

Since security and profit are the two major reasons people use a bank, learn about the banks in Denver where you can maximize these factors.

Without further ado, let’s get right into it. In the meanwhile, below are the points that’ll form the basis of our discussion.

The Wealth Circle cares about your financial security.

Credit Unions in Denver

Isn’t it ironic that Denver residents search for credit unions more than regular banks?

It will be a plus if banks have some features that propel customers towards credit unions. Things like high account fees, low savings interest, or no cashback reward on debit cards from the banks make the customers take a flip side.

Essentially, Credit unions offer services like most traditional banks. The only distinguishing factor is that credit unions are not-for-profit organizations that operate with reasonable rates.

Since credit unions are non-profit oriented, how do they make money. Read 7 ways to make money for a Nonprofit Organization.

According to Investopedia, Credit unions are created, owned, and operated by their participants. As such, they are not-for-profit enterprises that enjoy tax-exempt status. Credit unions have fewer options than traditional banks, but offer clients access to better rates and more ATM locations because they are not publicly traded and only need to make enough money to continue daily operations.

The best Credit Unions in Denver are:

  • Canvas Credit Unions
  • Credit Union of Colorado
  • Westerra Credit Union
  • Denver Community Credit Union
  • Rocky Mountain Law Enforcement Federal Credit Union

Best Banks in Denver in 2022 | Rates, Account Types, Min. Deposit

This section explains the best banks in Denver and their comparative advantage over other banks in Denver.

#1 – Ally Bank

Ally is an online and mobile bank that offers an attractive interest rate to customers.

Basically, customers can operate any of the three account types namely Checking, Savings, and Money Market accounts.

The online Savings Account has a fantastic annual percentage yield (APY) of 0.5% while requiring no maintenance fees. You’ll have access to tools that grow your money faster.

Similarly,  the APY for Checking Account climaxes at 0.25%. However, it falls to 0.01% should your minimum daily balance of your checking account fall below $15,000.

Ideally, every bank has a minimum balance but Ally has none. It can be likened to a bank on the moon that gives you an all-expense-paid banking experience.

Ally is your best plug if you’re comfortable with online banking since there no branches.

Here is another entirely online banking service: Chime SpotMe Program 2022: How it Works | Pros & Cons.

#2 – Chase

With over 70 physical locations around Denver, it has long been one of the giants and best banks in Denver.

Unlike Ally, Chase has a minimum deposit of $25 and an interest of 0.01% for the savings account.

Chase offers a variety of products to its customers. As listed on the website there are business, credit cards, checking, savings, and home loans.

One advantage of chase bank is he numerous offers new account openers of various accounts receive.

For instance, customers get $100 when they open a Chase College Checking account. And get $200 for opening a new Chase Total Checking account.

#3 – Colorado Federal Savings Bank

Looking for the best bank in Denver with an attractive APY? Go for Colorado Federal Savings Bank that offers a 0.65% interest at a starting balance of $1.

Interestingly, CFSB compounds your interest daily which means you can earn interest today on the interest earned yesterday.

As at the time of this publication, it has only one branch in Denver and this can be inconvenient for customers. But, hey your interest is still compounding even with the weak customer service.

#4 – Bank of Colorado

The Bank of Colorado is the best bank in Denver, Colorado for students. Unlike other banks where the student’s account is entirely different, Bank of Colorado allows students to apply their banking benefits to Free Checking account, Select Checking accounts, and Interest Checking account.

With the checking account, students get a monthly APY of 0.07%, a minimum deposit of $1,000, and a monthly fee of about $5.

In addition, students get a refund for the following:

  • Paper statement and notice fee per statement cycle – Select Checking & Interest Checking accounts
  • Up to five money order fees and cashier’s check/statement cycle
  • Foreign transaction and terminal fees/surcharges up to $10
  • The service charge for statement cycle – Interest checking account

These refund incentives are for students under 22 years of age.

As a student, you may also wish to get a loan. Check Great Lake Student Loan Review.

#5 – FirstBank

FirstBank has the best free and high-yield checking accounts in Denver, Colorado.

The Money Market Checking account has a 0.01% APY for balance between $500 and $19,999, and a 0.01% interest for any 0.03% for amounts above $20,000.

Similarly, the Premier Checking accounts also give a 0.01% to 0.03% APYs.

The minimum deposit for checking accounts is $500 and this is the best bank in Denver for anyone seeking a checking account.

#6 – ANB Bank

This is one of the best banks in Denver. Its parent company is the splufic Sturm Financial Group, Inc with its headquarters in Denver.

Explore our offerings online, including checking and savings accounts, business bank accounts, mortgages, home equity loans, and much more.

ANB offers an APY starting at 0.05% for savings accounts, and 0.03% for checking accounts. In addition, the accounts have a minimum deposit of $100 asides from community checking and youth accounts that have a minimum deposit of $25 and $0 respectively.

ANB is one of the best banks in Denver, if not the best for many reasons ranging from excellent service delivery to good and friendly customer service. You should give them a trial.

#7 – U.S Bank

In Denver, U.S Bank has 83 branches. This is one of the best banks in Denver because it has a large branch network and tons of ATMs Denver. However, if you use an out-of-network ATM, U.S Bank charges you $2.50.

The checking account has three tiers; silver, gold, and platinum. There is also a savings account, credit card, money-market, and loan accounts.

Savings account has an APY of 0.01% with a minimum deposit of $25.

It is the best option for customers who want security that large banks offer.

#8 – Wells Fargo Bank

Wells Fargo was founded by Henry Wells and Williams Fargo in 1852. The company has metamorphized into one of the world’s largest banks.

As listed on the website, the services rendered at Wells Fargo include Checking account, Savings account and CDs, Debit & Credit cards, Foreign Exchange, and Global Remittance Services.

The premium savings account has an APY of up to 0.02% for customers with a linked Wells Fargo Portfolio account and a 0.01% for its Way2save product and a minimum opening deposit of $25.

#9 – Bank of America

The bank of America was founded in San Francisco in 1998 when the Nations Bank acquired Bank America.

According to the website, Bank of America offers services like checking, savings, credit cards, home loans, auto loans, and investing.

Savings attract an interest of 0.01%. Likewise, users need to have a minimum balance of $500 to avoid fees.

You may wish to read this: Bank of America Student Loans: Refinancing and Alternatives.

#10 – CIT Bank

CIT Bank, a member of FDIC was launched online in 2001 to offer a range of savings products including CDs, savings accounts, IRAs, and custodial accounts.

The CIT Bank Savings Builder account gives a 0.45% APY if you can maintain a $25,000 minimum balance or have a $100 monthly deposit. Instead, you’ll receive a 0.29% APY.

There is a minimum deposit of $100.


If you want to get the best banking experience in Denver Colorado, work with these banks we have listed above. To further buttress this point, we will highlight the banks in the table below.

BankAccount TypesInterest RateMin Deposit
#1 Ally BankSavings, Checking0.5%$0
#2 ChaseChecking and Savings accounts0.01%$25
#3 Colorado Federal Savings BankSavings account0.65%$1
#4 Bank of ColoradoChecking account0.07%$1000
#5 FirstBankChecking Account0.01-0.03%$25
#6 ANB BankSavings,Checking accounts0.05%, 0.03%(Savings, Check)$100
#7 U.S BankSavings0.01%$25
#8 Wells FargoChecking, Savings account and CDs,0.02%$25
#9 Bank of AmericaSavings, Checking0.01%$500
10 CIT BankSavings & CDs0.45%$100



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