Looking for a new bank? You’re in luck — our top bank picks in Illinois offer the largest number of branches in the state as well as essential banking services (checking and savings accounts, online banking, personal loans, mobile apps and much more). We’ll also go over the minimum balance, checking fees and interest rates to help you weigh your options.
Read on to get a glimpse of some of the best banks in Illinois.
Best for Multiple Branches: Chase
Chase is ideal if you’re looking for a bank with a large geographic footprint. The bank offers 314 branches in 137 different cities and towns in the state of Illinois — more than any other bank in the state. It’s easy for you to make deposits and get cash from 16,000 ATMs.
The bank serves half of America’s households with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing.
Its online banking facility lets you manage your Chase accounts, view statements, monitor activity, pay bills or transfer funds securely from 1 central place.
Best for Mobile Banking: U.S. Bank
U.S. Bank operates with 193 branches in 129 different cities and towns in Illinois.
The bank offers an easy, hassle-free and secure mobile banking app. Some of the main features of the app include:
- Money transfer between your accounts
- Check deposit
- Bill pay and management
- Send, receive and request money
Apart from everyday banking tasks, you can also use the new quick-action menus to locate the nearest branch or ATM, book an appointment with a banker or get in-app help when you need it.
Best for Range of Accounts: Fifth Third Bank
Fifth Third Bank operates with 186 branches in 105 different cities and towns in the state of Illinois.
Apart from traditional accounts, Fifth Third Bank also offers specialized accounts that cater to unique needs. Some of them include:
- Fifth Third Preferred Checking: Earn higher interest on your checking account and get preferred discounts, benefits and services.
- Fifth Third Student Banking: Only for students who are at least 13. They receive the same benefits as the regular checking account with no monthly service charge.
- Fifth Third Military Checking: For military families, including active duty, retired, reserve/guard and veterans. It also includes the commissioned officers of the Public Health Service and the National Oceanic and Atmospheric Administration.
- Fifth Third Express Banking: Get immediate access to your money and the convenience and security of a banking relationship.
- Fifth Third ABLE Checking: The account allows individuals with disabilities and their families to save for future qualified expenses without losing access to federal benefits.
Best for Students: PNC
PNC Bank operates with 168 branches in 89 cities and towns in Illinois.
PNC is an excellent bank for personal, small business and even corporate use. It lets you manage your money online with its Virtual Wallet:
- Spend (your primary checking account)
- Reserve (for short-term savings)
- Growth (for long-term savings accounts)
PNC also has a special account for student banking known as Virtual Wallet Student. There’s no minimum balance requirement or monthly service charge for 6 years after you open your account. At the end of 6 years, it will convert to its standard Virtual Wallet and will be subject to fees and features.
In addition to the benefits you get with the standard Virtual Wallet, students can get 1 automatic refund of any overdraft item, 1 free incoming domestic or international wire transfer per statement period and more.
Best for Flexible Checking Account: Bank of America
Bank of America operates with 143 branches in 79 different cities and towns in Illinois.
The bank offers a flexible checking account known as the Bank of America Advantage Banking. The account comes with 3 settings to match every need.
- Advantage SafeBalance: Checkless banking that helps you stay within your balance.
- Advantage Plus: Everyday banking with more ways to waive the monthly fee.
- Advantage Relationship: Perks for higher balances like fee waivers and interest.
With each type of account, you get fraud protection, mobile deposits, debit card controls, custom alerts and a fast and secure sign-in.
Frequently Asked Questions
Q: What is a savings account for?
A: A savings account is a place to park cash. It can be opened by teens or adults looking for a place to earn interest.
Q: What is monthly maintenance fees?
A: Bank accounts typically charge certain fees every month to maintain your account. This fee can sometimes be waived off on meeting a specific minimum balance or activity requirements.
Choose the Right Bank in Illinois
Choosing the right type of account allows you to maximize the return from the bank, minimize fees and manage your money conveniently. For example, some accounts may offer several benefits but come with a high maintenance fee. Unless these benefits make sense for your lifestyle, it would be an unnecessary expense.
To determine the best banks in Illinois, Benzinga analyzed over 100 banks and financial institutions. We gave weight to banks in Illinois with co-op ATMs and cashback 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.