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

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Locating an outstanding bank in Seattle becomes more herculean a task as the days go by especially when there are over 500 branches of banks scattered all over the metropolis.

In this article, we have listed the best banks that meet your financial needs bearing these in mind: the banks’ access to branches and ATMs, account minimums, fees, and interest rates. Kindly follow through.

In this list of best banks in Seattle, most of the banks that made the list are smaller banks as they have thrived in recent times.

What are the Best Banks in Seattle?

  • Ally Bank
  • Chase Bank
  • Columbia Bank
  • CIT Bank
  • HomeStreet Bank
  • Banner Bank
  • KeyBank National Association
  • Bank of America
  • Wells Fargo

#1 Ally Bank

This is one of the top banks you can find in Seattle, as it has solid on the web and versatile encounters and extraordinary financing costs.

If you hope to save, Ally’s Online Savings Account offers a 0.50% APY but for a checking account, the Interest Checking Account from Ally comes up to a 0.25% APY. Besides this, Ally has no charges or essentials to stress over.

Because Ally Bank has no physical branches, there are no Ally ATMs although it partners with Allpoint.

#2 Chase Bank

In a place as Seattle, there’s no how you can avoid seeing either a branch or ATM belonging to Chase Bank.

Majorly, there are 2 types of account options it provides its customers. They are: savings account and checking accounts.

These accounts carry the minimum APY of 0.01%.

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#3 Columbia Bank

If you don’t intend to go for the big banks in the Seattle metropolis, you can easily swerve your business acumen to the savings and checking accounts in Columbia bank.

However, if all you’re out for is the high interest rate, this may not be an ideal fit for you as this bank’s rates start with a low APY of 0.01%.

#4 CIT Bank

One of the top rates you can find in the money market is the one CIT offers and since it does not have branches, you can only access its services through mobile banking.

These are the variety of accounts you can open with CIT. Premium High Yield Savings account, money market account, and the Savings Builder account.

With a minimum deposit as low as $100, you can maintain your account.

#5 HomeStreet Bank

In the list of the best savings account in Seattle, HomeStreet makes it a second time. This is because, it offers a higher interest rate on its savings account far above its competitors.

Irrespective of what is left in your account, this bank offers a 0.05% APY although the minimum balance needed to open an account with HomeStreet is $100.

There are about 25 branches in the whole of Seattle.

#6 Banner Bank

Tell me, what use is a bank when its customer service relationship is nothing to write home about? This is the core reason why this bank made it tops in the list of best banks in Seattle.

The wide options it has in bank accounts range from checking accounts, savings accounts, money market accounts, CDs and IRAs. Whether or not you decide to keep all accounts at the same financial institution is solely your choice.

Moreso, the fees and minimum balances vary and depend on the account you open with Banner bank.

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#7 KeyBank National Association

This Seattle bank offers its customers a smooth and free checking account option where you don’t have to be perturbed about whatever maintenance fee that is attached to the account you have with KeyBank.

Over a 100 branches of KeyBank can be found in Seattle.

#8 Bank of America

This bank provides two checking account options for its customers where their monthly costs vary and with over 80 branches across Seattle, Bank of America provides you with a more comfortable banking experience with them.

Conclusion

Even as we have provided you with the best banks in Seattle, it is reasonable that you also make your own research and find out the bank that best suit your financial needs.

Summarily, here’s a tabular representation of the accounts types these banks run, the minimum deposits needed, and the interest rates.

BankAccount TypeMinimum Deposit Rates
1. Ally BankChecking & SavingsN/A0.25%
2. Chase BankChecking & Savings$250.01%
3. Columbia BankChecking & Savings$250.01%
4. CIT BankSavings & Money market$1000.45%
5. HomeStreet BankSavings$1000.05%
6. Banner BankChecking, Savings & Money market $250.05%
7. KeyBank National AssociationChecking$100.00%
8. Bank of AmericaChecking$25N/A

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