When we talk about protecting the fund, we should look at each aspect from opening a bank account to deposit and security. People who want to keep their money safe, usually choose banks.
If you are a citizen of the USA and looking for a solution about how to keep your money in the right hand then this article can help you for getting your answer.
In this article, we are going to discuss the top 15 safest banks in the USA, where you can deposit your fund without any worries.
Factors You Should Look At When Deciding Whether A Bank Is Safe Or Not
People usually get confused about the question “what banks are the most secure”, so here Is the answer to this question. Following are the factors that you should look at before depositing the fund because these factors show whether a bank is secure or not.
Size Of The Bank
The size of the bank matters a lot because a big size bank has always big capital, assets, and other resources and it is considered safe.
Usually, large-size banks have more customers than small ones which means more funds and more profit, these banks have many reserves to use in difficult times of the business. So when talking about the safe bank, the size of the bank must be considered.
Whether Bank Is Insured Or Not
If you are worrying about saving your money, the bank is the safest place to do it but you should check whether the bank where you are keeping money is insured by government authorities or not such as FDIC.
FDIC (Federal Deposit Insurance Corporation) takes insurance for your fund if anything happens wrong such as fraud, so if your bank has been approved by FDIC then it means it is a legit place to keep the money.
Feedbacks From Customers
Customer reviews are very important, must research and take reviews from existing customers so you can get to know whether you are giving your money to the right hands or not.
You can also check the reviews of the different businesses online where customers post their views about banks and other institutions which they use. The platform where you can get information about customer views such as Trustpilot.
Whether They Provide Customer Service Or Not
Customer service is no doubt a necessary service in financial institutions as they provide so many things online so people usually face difficulties to get the right direction.
Having customer service in the bank shows that the institution has great potential to tackle the customer’s queries and problems.
Authentication And Verification
Usually, banks have different authentication processes to check whether a transaction takes place by the right account holder or not. Many banks use OTP for authentication and transaction pins for verification.
Other ways they use such as time logout, Notification about any activity which takes place in the account, and data encryption.
Banks provide many other ways by which you can secure your fund for example if any activity or transaction takes place by using your debit card and you do not have knowledge about it then you can block it by requesting your bank. If your bank gives the facility of debit card blocking then it is considered that the bank provides security.
EMV (Europay, Mastercard, VISA) if your bank offers chips on the card, it is usually considered safe to pay through such cards who has gold or silver chips. It is one of the most common factors of a safe bank.
Reimbursement Policy
If an institution gives the guarantee for reimbursement of the fund if any illegal or fraudulent activity takes place in the account then it is considered that the bank is safe.
15 Safest Banks In The USA
According to our research following 15 banks are the best and top safest banks in the USA. The information we get through our research but must do your own research, and check global finance before taking any decision if you want to attempt anything related to your fund. Effective Marketing Strategies
Wells Fargo
It is a multinational company based in the USA and works entirely around the globe. The company was founded in 1852 by William George Fargo.
One of the leading financial companies in the USA with billions of dollars of assets. It provides more than 10 to 15% of services to small businesses in the USA.
- Branches Of Wells Fargo (Size): More than 4900 with thousands of ATMS.
- Where Is Wells Fargo Headquarters: San Francisco, California, and its operational headquarter is in Manhattan
- Assets Of Wells Fargo: $1.9 trillion
- Is Wells Fargo Approved By Federal Deposit Insurance Corporation: YES
- Does Wells Fargo Provides Customer Service: Yes, they provide customer service, so customers can reach out to them and ask for their queries.
- Verification: Wells Fargo provides two-factor authentication, so the customers can know if anyone is trying to access their account. Along with two factors authentications, they also provide verifications such as voice and biometric signs. Wells Fargo also alerts customers for their activity, so if any customer is not doing any transaction or purchase or other activity, so he/she can know that the account is in danger and immediately he/she can stop that event.
- Reimbursement Policy: they offer reimbursement
If you are looking for the safest banks in the USA, Wells Fargo should be noted in the list. We can say that Wells Fargo is the most secure and one of the safest banks in the USA.
U.S. Bank
A financial services company that was founded more than 150 years ago, it is one of the largest banks in the U.S. and recently of the 5th number banking institution. It is also known as U.S. Bancorp. U.S. Bank is the most trusted and one of the safest banks in the USA in terms of secure baking.
- Branches Of U.S. Bank (Size): More than 2000 branches with 4500 plus ATMS.
- Where Is U.S. Bank Headquarters: Minneapolis and Minnesota
- Assets Of The U.S. Bank: More than $573 billion in 2021
- Is U.S. Bank Approved By Federal Deposit Insurance Corporation: Yes, it is approved by FDIC.
- Does U.S. Bank Provides Customer Service: Yes they provide a good customer service
- Verification: They provide different ways of authentication such as OTP, Biometric, and other visual ways. They provide different ways and resources to keep safe from fraud and also provide account restrictions, so access can be safe for customers.
PNC Bank
It is one of the safest banks in the USA that protect funds with every secure angle, it is the sixth largest bank in the USA with more the six hundred billion USD assets and was founded in 1845. This financial service corporation operates in more than 19 states of the United States.
- Branches Of PNC Bank (Size): More than 2500 with approximately 9000 ATMS.
- Where Is PNC Bank Headquarters: Pittsburg, Pennsylvania, United States
- Assets Of The PNC Bank: More than 600 billion USD in assets
- Is PNC Bank Approved By Federal Deposit Insurance Corporation: Yes, it is a member of FDIC.
- Does PNC Bank Provides Customer Service: Yes they provide customer service, their customer service number is 0014128037711
- Verification: PNC provides a wide range of security to its customers as it is a member of FDIC, it offers fraud detection and prevention with very solid cyber security.
AgriBank
The AgriBank provides financial services to farmers and agribusinesses in the united state. It offers different services such as loans, crop insurance, leasing, and other financial services. They operate in different states of the united states some of them are mentioned below:
- Wisconsin
- Texas
- South Dakota
- North Dakota
- Oklahoma
- Nebraska
- Montana
- Mississippi
- Missouri
- Minnesota
- Louisiana
- Kentucky
- Lowa
- Illinois
- Kansas
- Arkansas
- Branches Of AgriBank (Size): They operate in more than 17 states of the United States.
- Where Is AgriBank Headquarters: Minnesota, United States
- Assets Of The AgriBank: 140 plus billion USD
- Is AgriBank Approved By Federal Deposit Insurance Corporation: It is a member of FCSIC
- Does AgriBank Provide Customer Service: Yes
- Verification: Every bank has some verification process same as AgriBank protects funds in different ways, they offer fraud deduction and prevention also they have solid cyber security.
CoBank
It is a cooperative bank in the United State that provides financial services to agribusinesses. It operates in overall all states of the United States. It offers different services such as intermediate, long-term finance, and leasing. It offers an online baking service as well it is a member of the Farm Credit System (FCS) which represent it as one of the safest banks in the USA.
- Branches Of CoBank (Size): Operates in the whole united state
- Where Is CoBank Headquarters: Denver, Colorado
- Assets Of The CoBank: More than 156 billion USD as per record of 2021
- Is CoBank Approved By Federal Deposit Insurance Corporation: It is insured by FCSIC
- Does CoBank Provides Customer Service: they provide customers service
- Verification: they protect customers in various angels to avoid fraud
Farm Credit Bank of Texas
A financial institution in the United State that provides services to farmers and it is a member of the Farm Credit System. It also offers different financial services such as online baking, Leasing, investment services cash management services.
- Where Is Farm Credit Bank Of Texas Headquarters: Austin, Texas, United States
- Assets Of The Farm Credit Bank Of Texas: Approximately 30 billion USA in 2021
- Is Farm Credit Bank Of Texas Approved By Federal Deposit Insurance Corporation: it is approved by FCS but is not a member of the FDIC
- Does Farm Credit Bank Of Texas Provides Customer Service: They do provide
- Verification: report about unreal transactions
JPMorgan Chases & CO.
One of the safest banks in the USA and a multinational investment bank. It is one of the largest banks in the world by its assets that operates in 60-plus countries around the globe. It offers different financial services to the clients such as:
- Online, private, and commercial Banking
- Retail and investment baking
- Asset management, etc.
- Branches Of JPMorgan Chases & CO (Size): 5000 plus branches with more than 16000 ATMS
- Where Is JPMorgan Chases & CO Headquarters: New York, United State
- Assets Of JPMorgan Chases & CO: More than 2 trillion USD of assets, such a huge amount of assets shows that it is one of the safest banks in the USA.
- Is JPMorgan Chases & CO Approved By Federal Deposit Insurance Corporation: YES
- Does JPMorgan Chases & CO Provides Customer Service: Yes they provide fraud prevention resources, If you are looking for banks with the best security then Chase is the best bank for fraud protection.
- Verification: Offers account alert and two factors authentication.
Chase bank safety deposit box is the coolest feature of JPMorgan Chases & CO. This bank is one of the most secure banks in the USA.
CitiBank
One of the largest investment banks in the world that operates in more than 160 countries of the world. It offers different services such as online banking, investment banking, commercial and private baking, etc. It also offers services to small businesses in the united states.
- Branches Of CitiBank (Size): 4000 plus branches with 16000 plus ATMS
- Where Is CitiBank Headquarters: New York, United States
- Assets Of The CitiBank: More than 2.3 trillion USD as per record of 2021
- Is CitiBank Approved By Federal Deposit Insurance Corporation: Yes it is approved
- Does CitiBank Provides Customer Service: they provide a strong customer support
- Verification: Has a solid cyber security and incident response plan.
CitiBank is the choice of many clients and they trust their banking services which makes this bank one of the safest banks in the USA.
Capital One
One of the most popular financial cooperation in the United States that is famous for its credit car business, it also offers different services such as banking and loan services. Some of the most popular services they offer are mentioned below:
- Credit card services
- Online and investment banking
- Small business loan
- Branches Of Capital One (Size): More than 311 branches
- Where Is Capital One Headquarters: Mclean, Virginia, United States
- Assets Of The Capital One: approximately 421 plus billion USD as per record of 2021
- Is Capital One Approved By Federal Deposit Insurance Corporation: it is approved by FDIC
- Does Capital One Provides Customer Service: they have a solid customer support service
- Verification: they offer different securities such as on and off cards, account monitoring, two factors authentication, etc.
AgFirst
A financial services institution that offers different services to farmers and other agribusinesses in the united states. It is an approved member of the Farm Credit System. Some of the most famous services of AgFirst are mentioned below.
- Provides intermediate and long-term finance
- Provides leasing and financial counseling
- Offers services of trading in agribusinesses
- Where Is AgFirst Headquarters: Columbia
- Assets Of The AgFirst: nearly 40 billion USD in 2021
- Is AgFirst Approved By Federal Deposit Insurance Corporation: it is approved by FCS
- Does AgFirst Provide Customer Service: they offer a good customer support service
- Verification: security training and two-factor authentication are the cool features of AgFirst
M and T Bank Corporation
M and T bank is a commercial bank that operates in the USA, it offers different services such as banking, insurance, and investment to local and international citizens and organizations as well. Financial products that M and T bank offers are mentioned below:
- Online, personal and commercial banking
- Investment service
- Branches Of M and T Bank Corporation (Size): 750 branches with more than 1800 plus ATMS.
- Where Is M and T Bank Corporation Headquarters: Buffalo, New York, United States
- Assets Of The M and T Bank Corporation: nearly 138 billion USD in 2020
- Is M and T Bank Corporation Approved From Federal Deposit Insurance Corporation: it is approved
- Does M and T Bank Corporation Provides Customer Service: have a strong customer support service
- Verification: They have solid cyber security with an incident response team that protects from hacking and other cyber attacks.
BNY Mellon
It is a financial institution that operates in more than 35 countries all over the world. It offers various products and services such as:
- Asset management
- Investment services
- Custody services
- Private banking and other fund management services.
It is regulated by following different regulatory bodies such as SEC and Federal Reserves.
- Branches Of BNY Mellon (Size): has many branches across the United States, Europe, and Asia
- Where Is BNY Mellon Headquarters: New York
- Assets Of The BNY Mellon: nearly 445 billion USD in 2021
- Is BNY Mellon Approved By Federal Deposit Insurance Corporation: it is a member of the Federal Reserve System (FRS) but is not approved by the FDIC
- Does BNY Mellon Provides Customer Service: Yes
- Verification: they have different securities processes to avoid unreal transactions and prevent fraud
Ally Bank
An American bank that offers and works digitally across the country. Some of the most popular services are mentioned below:
- Leasing and auto financing
- Loan and mortgage
- Personal Banking
- Investment and credit card services
- Where Is Ally Bank Headquarters: Midvale, Utah
- Assets Of The Ally Bank: nearly 180 billion USD in 2020 financial records
- Is Ally Bank Approved By Federal Deposit Insurance Corporation: Yes
- Does Ally Bank Provides Customer Service: Yes
- Verification: their security process is quite effective in the prevention of fraud and unauthorized transactions
Charles Schwab Corporation
A multinational financial institution in the United States and also one of the largest and safest banks in the USA and across the world that offers various services such as:
- Investment and brokerage services
- Pension schemes
- Advice for investment
- Stock planning
It is regulated by regulatory bodies such as SEC, SIPC, and FINRA.
- Branches Of Charles Schwab Corporation (Size): more than 360 branches
- Where Is Charles Schwab Corporation Headquarters: San Francisco, California, United States
- Assets Of The Charles Schwab Corporation: more than 8 trillion USD in 2021 financial records
- Is Charles Schwab Corporation Approved By Federal Deposit Insurance Corporation: Yes
- Does Charles Schwab Corporation Provides Customer Service: Yes
- Verification: we can confidently say that they have a strong verification process because of its brand name and size
State Street Bank And Trust Company
One of the popular financial institutions in the USA is also known as state street cooperation. It offers different financial services such as investment, management, research, and trading.
It is regulated by the federal reserves and SEC.
- Branches Of State Street Bank And Trust Company (Size): approximately 29 branches
- Where Is State Street Bank And Trust Company Headquarters: Boston Massachusetts, United States
- Assets Of The State Street Bank And Trust Company: above 363 billion USD as per the record of the 2021 financial statement. Such a huge amount of assets represent it as one of the safest banks in the USA
- Is State Street Bank And Trust Company Approved By Federal Deposit Insurance Corporation: Yes
- Does State Street Bank And Trust Company Provides Customer Service: Yes
- Verification: provide customers with different features of securities that help in the prevention of fraud and alert on unauthorized transactions.
General FAQS
What is the most secure bank in the world?
There are different factors to keep in mind when answering this question, if we answered on the bases of most customers then Commercial Bank Of China might be the answer otherwise JPMorgan Chases & CO is the most secure bank in the world because of its policy and security process.
How do banks invest their money?
Banks use different channels and ways to invest the money of the customers. People who open saving accounts in the bank get interested every year, and banks use that money to get profit, if you asked “do banks invest your money” then the answer is yes, banks do it in different ways such as banks invest in the property, shares or start a new project on the different areas, etc.
Which is the safest place to keep money safe?
When people have money they usually look for places where they can save their money. The majority of people choose to invest their money in different places such as in shares or in property, and many people choose the bank as a great option. We can say that choosing a bank is the safest way to protect your money.
Which is the smallest bank in the US?
Oakwood Bank Of Texas is the smallest bank in the US because of its assets and deposits.
Which are the most secure banks in America?
According to our research, Wells Fargo is the bank where your money is safe because of its securities and other policies that are very favorable.
Which are the top 3 banks with the best cyber and online security?
The followings are the top 3 safest banks in the USA that are best for both cyber and online security.
- U.S. Bank
- Wells Fargo
- JPMorgan Chases & CO
Hopefully, you like our vision of the safest banks in the USA. Must share and do follow our site for more interesting knowledge.
