- Largest bank nationwide.
- Many branches around Colorado.
- Handle all banking needs with one relationship.
Best Banks in Colorado in 2024
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Personal Finance
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Colorado residents in Denver, Colorado Springs, Grand Junction, Aurora, Boulder, and beyond have plenty of options for banking—whether local banks, credit unions, national giants, or online options. The state’s best banks offer a combination of competitive fees and interest rates, convenience, and good customer service. Here’s a closer look at the best banks in Colorado—and which one is right for you.
Our recommendations
Best for: nationwide banking
Chase Total Checking®
Best for: nationwide banking
Chase Total Checking®
APY*
N/A
Monthly fee
$12 ($0 with qualifying activities); $34 NSF Fee
Welcome offer
$300*
Why we like it:
Chase is the largest bank in the United States and operates one of the largest branch networks in Colorado, so it’s a strong choice for banking at home or when traveling nationwide. It offers almost anything you need from a financial institution, including outstanding customer service, an excellent credit card program and business banking.
As a traditional brick-and-mortar bank, account fees can be high and savings account interest rates low. But if you want in-person service at a local branch, those drawbacks are the price of admission.
Account details:
Types of accounts
- Checking.
- Savings.
- CDs.
- Credit cards.
- Home loans.
- Auto loans.
- Investments.
- Business banking.
Number of branches
- More than 4,700 nationwide, and more than 100 in Colorado.
Pros & cons:
Pros:
Cons:
- Minimum balance requirements to avoid monthly charge.
- High fees may apply.
- Poor interest rates for savings accounts.
*Welcome offer details:
Bonus/Account Information: Offer not available to existing Chase checking customers, or those whose accounts have been closed within 90 days or closed with a negative balance within the last 3 years. You can receive only one new checking account opening related bonus every two years from the last coupon enrollment date and only one bonus per account. Coupon is good for one-time use. To receive the bonus: 1) Open a new Chase Total Checking account, which is subject to approval; AND 2) Have your direct deposits totaling $500 or more made to this account within 90 days of coupon enrollment. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Person to Person payments (such as Zelle®) are not considered a direct deposit. Micro-deposits do not qualify as a direct deposit for the bonus. Micro-deposits are small deposits, typically less than $1, that are sent to your account to verify it is the correct account. After you have completed all the above requirements, we'll deposit the bonus in your new account within 15 days. To receive this bonus, the enrolled account must not be closed or restricted at the time of payout. Eligibility may be limited based on account ownership. Bonus is considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable). Offer availability subject to change. Other Chase checking bonus offers may exist concurrently.
Best for: online banking
Sofi Online Checking Account
Best for: online banking
Sofi Online Checking Account
APY*
0.50% (4.60% if you also have a savings account)
Monthly fee
$0
Welcome offer
Up to $300 bonus with qualifying direct deposits available through 12/31/24
Why we like it:
When it comes to online-only banking, Sofi is tough to beat. SoFi meets nearly every financial need—checking, savings, investments and loans—aside from branch loans. Accounts come with low fees, competitive high-yield interest rates, and an intuitive mobile app.
SoFi doesn’t charge ATM fees, but it also doesn’t reimburse fees for out-of-network ATMs. And you need a recurring direct deposit to get the best interest rates.
Of course, if you want in-person customer service, SoFi likely isn’t for you.
Account details:
Types of accounts
- Checking.
- Savings.
- Credit card.
- Investments.
- Student loans.
- Personal loans.
- Mortgages.
Number of branches
- None.
Pros & cons:
Pros:
- Almost no fees for regular banking activities.
- Manage all financial needs from a single online account.
- Large ATM network with fee-free ATMs in convenient locations.
Cons:
- No in-person customer service or branch banking.
- No out-of-network ATM fee reimbursement.
- Direct deposit required for the best interest rates.
Best for: local branch banking
U.S. Bank Platinum Business Checking
Best for: local branch banking
U.S. Bank Platinum Business Checking
APY*
N/A
Monthly fee
$30 waivable; 500 free transactions/month, then $0.40 fee per transaction
Welcome offer
Earn up to a $900 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q4AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through January 15, 2024. Member FDIC.
Why we like it:
U.S. Bank is the fifth largest bank nationwide by deposits—despite operating in only about half of all states. There are 90 branches across Colorado, as well as ATMs at 7-Eleven and other partners. It offers nearly every banking service you need, including diverse savings and lending options.
Like other traditional financial institutions, savings interest rates aren’t exciting, and account fees can be high—particularly if you don’t meet minimum balance requirements. Still, for Coloradans looking for just one financial relationship, in-person service, and a wide ATM network, U.S. Bank is a good option.
Account details:
Types of accounts
- Checking.
- Savings.
- CDs.
- Money market savings.
- Credit cards.
- Investing.
- Personal loans.
- Auto loans.
- Home loans.
Number of branches
- 2,300 nationwide, and 90 in Colorado.
Pros & cons:
Pros:
- Handle all banking with a single institution.
- Extensive nationwide branch and ATM network, including in Colorado.
Cons:
- Minimum balance requirement to avoid monthly fees.
- High overdraft and other fees.
- Low interest rates for savings accounts.
Best for: low fees
Chime® Banking App
Best for: low fees
Chime® Banking App
APY*
0.00%
Monthly fee
$0
Welcome offer
$100 with referral program and direct deposit
Why we like it:
Chime is an online-only bank with a simple, straightforward offering: few to zero fees. In fact, Chime’s checking and savings accountsonly charge for using an out-of-network ATM. Even its credit card doesn’t charge interest or ongoing fees, though it does require a security deposit
There are no physical branches. However, Chime customers can use more than 60,000 free ATMs at stores, including Walgreens, 7-Eleven, CVS Pharmacy, and Circle K. You can also deposit cash with no fees at Walgreens. You can overdraft up to $200 without fees. (Further overdrafts are declined automatically.)
Account details:
Types of accounts
- Checking.
- Savings.
- Credit card (secured).
Number of branches
- None.
Pros & cons:
Pros:
- No fees for regular banking activities.
- Free ATMs at numerous locations, including drug and convenience stores.
- Fee-free overdrafts.
Cons:
- No branch locations.
- Out-of-network ATMs fees.
- Likely can’t handle all your financial needs.
Best for: kids
Young Americans Bank Checking Account
Best for: kids
Young Americans Bank Checking Account
APY*
Monthly fee
Welcome offer
$25
Why we like it:
Young Americans Bank is uniquely designed to help teach young people about personal finance. There are two branch locations in the Denver area, and online banking wherever you have internet access. In addition to kid-friendly bank accounts, it offers financial education that can help young customers well into adulthood.
The checking account has no recurring fees or minimum balance requirement, and it takes just $10 to open a new account. Savings and CD accounts offer a modest interest rate for no fees. Credit cards and loans are also available—a rare offering for young people.
Account details:
Types of accounts
- Checking.
- Savings.
- CDs.
- Credit cards.
- Loans.
Number of branches
- 2
Pros & cons:
Pros:
- No fees for regular banking activities.
- Free ATMs at numerous locations, including drug and convenience stores.
- Fee-free overdrafts.
Cons:
- No branch locations.
- Out-of-network ATMs fees.
- Likely can’t handle all your financial needs.
Best banks in Colorado compared
| Bank/Institution | Best for | Account types | Bonus/welcome offer | Zelle available |
|---|---|---|---|---|
Nationwide banking | Checking, savings, CDs, credit cards, home loans, auto loans, investments, business banking | $300 with direct deposit | Yes | |
Online banking | Checking, savings, credit card, investments, student loans, personal loans, mortgages | $300 with direct deposit | No | |
Local branch banking | Checking, savings, CDs, money market savings, credit cards, investing, personal loans, auto loans, home loans | Earn up to $800 when you open a checking and savings account and meet specific activity requirements | Yes | |
Chime | Low fees | Checking, savings, credit card | Only with referral program | No |
Young Americans Bank | Kids | Checking, savings, CDs, credit cards, loans | $25 new account bonus | No |
Methodology
We reviewed dozens of banks offering in-person and online services to customers across the state of Colorado—considering the number of branch locations, accounts offered, fees, interest rates, and other services to develop our ranking.
More about Colorado banking
Colorado has dozens of local, regional, and nationwide banks and credit unions. With more than 5.8 million residents, banks compete fiercely to lure customers. If you’re unhappy with your current bank or want to level up your financial experience, switching banks could be advantageous.
Types of banks in Colorado
Colorado is home to a variety of banks, including national giants like Chase and U.S. Bank, regional banks such as First Bank, and local banks and credit unions. No bank will work for everyone. By understanding your needs, you can home in on the best option for your household’s finances.
How to choose the right bank in Colorado
When selecting the best bank for you, consider these key factors:
- Digital vs. physical: Reflect on your habits: Will an online-only bank meet your needs, or do you prefer the traditional approach? The former often offers more competitive rates and fees, thanks to reduced overhead costs, while physical branches can provide more personal support for complex financial situations.
- Which services will help you meet your goals: Match your banking choice with your financial journey. Whether it's high-yield savings accounts, low-fee checking accounts, robust loan options, or sophisticated wealth management services, ensure the bank offers products that align with your financial objectives.
- Fees, rates, and rewards: Dive into the details of account fees, interest rates on savings, loan terms, and potential rewards. Look for reward or loyalty programs that incentivize your personal money habits. A bank with low fees and competitive interest rates can significantly impact your financial health over time.
TIME Stamped: Your habits determine which Colorado bank is ‘best’
With many banks to choose from, consider what you want most from a bank and make a short list of banks that may work for your household. Then, examine rates, fees, and service offerings to pick the best option for you.
Frequently Asked Question (FAQs)
Which Colorado bank is best?
There’s no specific bank in Colorado that’s best for everyone. Consider locations, rates, fees, accounts available, and online offerings to pick the best option for your finances.
What is the most popular bank in Colorado?
Large banks like Chase and U.S. Bank have the most bank locations in Colorado. First Bank is the largest locally-owned bank.
What’s the safest Colorado bank to put my money in?
The federal government insures banks in Colorado, so all banks are equally safe if your total balance is within FDIC insurance limits. Even if the bank goes out of business, FDIC coverage ensures you’ll get your money back.
The information presented here is created by TIME Stamped and overseen by TIME editorial staff. To learn more, see our About Us page.
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