Best Banks in Alabama

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Contributor, Benzinga
July 2, 2020

You can find plenty of online and in-person banking options throughout the state of Alabama. Here’s Benzinga’s guide to some of the best places to grow your wealth. 

Best Banks in Alabama Near You:

Peoples Bank of Alabama | banking
securely through Peoples Bank of Alabama | banking's website

Best for In-Branch Hospitality: Peoples Bank of Alabama

Since 1977, Peoples Bank of Alabama has offered services from dedicated associates who genuinely care about your banking goals and needs. You’ll find a broad range of services to match your goals: personal checking, savings, loans and lines of credit. 

Peoples Bank of Alabama also offers checking accounts for your commercial or nonprofit small business and money market accounts to nurture your professional wealth. It also offers informational resources to manage your business cash flow by minimizing idle balances and reducing fees. 

Best for Rewarding All Clients: BBVA

BBVA’s mission is to understand your individual path for personal, small business and corporate financial growth. BBVA’s flexible digital banking amenities offer you great access to services like free checking, quick debt consolidation and financial tips. 

Rewards programs are also available to students, military personnel, first responders and practicing healthcare professionals. These programs give hometown heroes discounted home equity products and flexible mortgage options. 

PNC | banking
securely through PNC | banking's website

Best Budgeting Tools: PNC Bank

PNC Bank focuses on providing you, your small business, big corporations and governmental entities with top service through a beneficial range of products and financial knowledge.

PNC Bank provides full access to personal banking services such as checking, savings, loan payment and mortgage financing all from its website or mobile app. Its own Virtual Wallet program combines your checking and savings activity into 1 secure and user-friendly platform. The Virtual Wallet program helps you keep track of how much you have left to spend after bills, expenses and even after your unique budgeting goals are met. 

You can also learn more about financial information on saving, spending and managing your funds through its PNC Insights blog. 

CIT Bank
Best For
  • Business and Personal Checking
securely through CIT Bank's website

Best for Checking Account Customization: CIT Bank

CIT Bank guides every step of your financial journey by adapting to shifting industry trends and collaborating as a team to provide you with the best services and financial knowledge. CIT savings accounts do not have opening and maintenance fees and feature daily compounding interest to maximize your savings. CIT’s own eChecking service allows you to access online and mobile banking at your fingertips with these features:

  • Travel alerts
  • Customizable debit card use restriction
  • Mobile accessibility to programs like Zelle, Apple Pay and Samsung Pay
  • Digital check deposits
  • Unlimited withdrawals and disbursements
  • No-fee ATM use  

CIT’s quality services are top tier — you’ll be in good hands when you want to make your next money move. 

Axos Bank Savings
Best For
  • No Maintenance Fees
securely through Axos Bank Savings's website

Best for High-Interest Savings and Checking: Axos Bank

Axos Bank is a technology-driven financial services company that provides a growing and diverse range of innovative banking products and services for personal, business and institutional clients across the country. These services include checking, savings, CDs, money market accounts, lending and retirement guidance. You’ll also be able to take advantage of online innovation, lower fees and award-winning customer service. 

An Axos Bank checking account offers high-interest cashback rewards and little-to-no service fees. Saving with Axos Bank is easy with no minimum balance requirements, daily compounded interest and 0 monthly maintenance charges. 

Frequently Asked Questions

Q: Are my bank deposits insured?

A: Make sure your bank is backed by the FDIC so you know that your deposits are protected. This is usually noted on the bottom of the website or on branded documentation. The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects an account owner's deposits in the event that your bank or savings institution goes under. The FDIC insures these deposit types:

  • Checking accounts
  • NOW accounts
  • Savings accounts
  • Money market deposit accounts
  • Certificates of deposit (CDs)

Q: How can I stop a pre-authorized debit from being paid from my checking account?

A: You will need to notify your bank at least 3 business days before the scheduled date of the transfer and inform your bank that you’d like to stop payment. You call the bank or notify it in person but the bank may require you to put the request in writing. The oral request will not be effective after 14 days if the bank requests written confirmation and you do not send in the written request.

Stay Educated on Banks in the Heart of Dixie

The best way to find the best banks in Alabama is to compare features such as rewards programs, supplemental educational platforms and various fees. 


Benzinga analyzed over 100 banks and financial institutions to determine the best banks in Alabama. We gave weight to banks in Alabama with co-op ATMs and cash-back options. We also considered highly rated checking and savings accounts, online banking, personal loans, mortgages, educational resources and mobile apps.

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