fbpx

Best Banks in Alaska

Benzinga Money is a reader-supported publication. We may earn a commission when you click on links in this article. Learn more.

Online and physical banks both offer innovative personal banking products to help you save more, easily track your finances and apply for credit. 

Find the right bank to make the most of your money. Start with Benzinga’s list of the best banks in Alaska. 

Current APY
Up to 0.03% on savings accounts
Minimum balance
$25
Checking Fees
$10

Best for Branch Access: Wells Fargo

With 43 branches and 88 ATMs in Alaska, Wells Fargo offers the accessibility of physical and mobile banking.

Personal banking includes checking and savings accounts, credit cards, loans and investment products. Product availability does vary by area. 

For example, in Anchorage you can open up any of the following checking accounts

  • Everyday Checking
  • Preferred Checking
  • Portfolio with Wells Fargo
  • Teen Checking
  • Opportunity Checking

Everyday Checking is for your everyday deposit account with perks for college students and other customers. Earn interest on your balance with Preferred Checking or Portfolio by Wells Fargo. You can also qualify for relationship benefits with Portfolio by Wells Fargo. Teen Checking is for young people, while Opportunity Checking aims to give you a financial leg-up with some restrictions.

Current APY
Premium Checking: 0.05%
Minimum balance
$4,000 balance to waive $19 service fee for Premium Checking
Checking Fees
Online Checking: $3 monthly service charge waived with paperless statements Premium Checking: $19 fee waived with a balance of $4,000 or $4,000 in qualifying deposits

Best for Mobile Banking: BBVA

Prefer banking from your smartphone? BBVA has a top-rated, award-winning mobile banking app. And it strives to meet your needs with its wide range of personal, commercial, small business, commercial and wealth products.

The BBVA Mobile Banking app is intuitive, making it easy to navigate. The app keeps your balances and pending and posted transactions at the top of each account so you always have a pulse on your finances.

BBVA offers checking and savings accounts, credit cards and lending options among a host of other products. Some are available nationwide, while some are only available in select regions.

In Alaska, you can access the same products available nationwide, including 2 checking accounts. The Premium Checking is a tiered interest-earning account. You can earn cash back with your Online Checking account by enabling a feature called Simple Cash Back.

Open either account with a deposit of $25. There are no physical BBVA branches in Alaska, but you can use the mobile app to access and manage your accounts anywhere.

Current APY
1.40%
Minimum balance
$0
Checking Fees
$0

Best for Targeted Saving: Simple

Simple is an online 1-stop-shop for all your basic banking needs. Benefit from linked accounts that help you qualify for top-tier interest rates. 

Simple makes it easy to reach targeted savings goals. When you open up a Simple high-yield checking account, you may also open up a Protected Goals account. This account exists within your checking account and allows you to transfer funds to save for a specific goal while earning interest on your total balances. This is in addition to Expenses and Savings Goals accounts already built into the high yield account. Divert funds into any of these internal accounts to earn interest on your balance and reach your financial goals faster.

Open up an account with Simple online, fund it with direct deposits or transfers from another account and start working towards your goal.

Current APY
Up to 1.25%
Minimum balance
None
Checking Fees
Depends on the type of account

Best Checking Accounts: Axos Bank

Axos Bank is solely online. It can provide you with personal banking options with competitive rates and perks on checking and savings accounts.

Axos has 5 specialized checking accounts. Essential Checking is a free basic account with unlimited ATM reimbursements. The CashBack Checking account earns you 1.00% cash back on purchases.

Rewards Checking is the most popular account from Axos. This is a free account with no overdraft or non-sufficient funds fees. Axos will also reimburse all ATM fees you incur.

Reward Checking is a tiered, high-yield checking account. You must complete each of following actions to earn the potential total interest rate:

  • Receive $1,000 or more in qualifying direct deposits monthly
  • Make at least 10 monthly transactions with your Axos Visa Debit Card 
  • Make at least 15 monthly transactions with your Axos Visa Debit Card 

Axos offers a senior-friendly account dubbed Golden Checking. This account earns interest and comes with perks like free personal checks. For young people ages 13 to 17, First Checking provides an initial banking experience.

All Axos checking accounts come with mobile deposits, bill pay and peer-to-peer payments.

If you’re looking for a savings account to grow your balance, High Yield Savings and High Yield Money Market are interest-bearing savings accounts from Axos. These accounts are free of maintenance fees and you won’t have to meet a minimum balance to keep the account open.

Current APY
Up to 0.25%
Minimum balance
Minimum deposit of $100
Checking Fees
No monthly feesATM fees reimbursed up to $30 per month

Best Savings Accounts: CIT Bank

CIT Bank is a digital bank that offers attractive savings accounts you can open up with as little as $100. Choose from 3 accounts based on your specific financial needs:  the Savings Builder account, Premier High Yield Savings account or Money Market account.

For a straightforward savings account with a solid APY rate, choose Premium High Yield Savings. Reach ascending interest rate tiers with a Savings Builder account. You’ll qualify for each tier by performing certain actions monthly, such as maintaining a minimum monthly balance or receiving direct deposits.

CIT Money Market account is a popular choice because it acts as checking-savings crossover. Your balance will earn interest but you have easy, consistent access to your funds should you need them. This account can be linked to services like Bill Pay, Zelle and PayPal for easy digital transfers. 

The account is primarily fee-free. If you exceed the number of transactions allowed, you’ll pay $10 per transaction but only up to $50 per month. If you overdraft, CIT will charge your account $25.

24/7 access to CIT’s mobile banking tools is a feature of all CIT personal banking accounts.

If you need a spending account with fewer restrictions on transactions, eChecking is an option. eChecking is an online checking account that earns interest on any balance. Maintain an average balance over $25,000 to unlock higher-tier rates. Like CIT savings accounts, you won’t face many fees with eChecking and you’ll get some ATM reimbursements as well.

CIT also offers home loans and several certificates of deposit (CDs) options.

Frequently Asked Questions

Q: What do I need to open up a bank account?

A: You’ll need some form of government ID along with other identifying information and your Social Security card. Most banks have a minimum opening deposit requirement as well. Check out your potential bank’s website or visit a branch to find out specific requirements.

Q: Is my money safe in a bank account?

A: Your deposited funds are protected up to $250,000 for individual deposit accounts. Funds are insured by the Federal Deposit Insurance Corporation (FDIC).

Find the Right Bank 

The right bank can help you take your finances to the next level. Grow your wealth with high-yield accounts or save for a specific goal with sophisticated, mobile budgeting and savings tools. Start with our list of recommended banks in Alaska today.

Methodology

To determine the best banks in Alaska, Benzinga analyzed over 100 banks and financial institutions. We gave weight to banks in Alaska with co-op ATMs and cash-back options. We also gave greater rankings to banks which offered the following: checking and savings accounts, online banking, personal loans, mortgages, educational resources, and a mobile app.

Hire a Pro: Compare Financial Advisors In Your Area