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Best Banks in Maine

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Maine is home to multiple local and national banks, so determining the best option can be daunting. Benzinga has put together a list to help you find the right bank and right accounts for your specific financial needs. 

We’ve included the most accessible banks with digital and mobile banking, loans and other important banking services. Read on to learn more about our top picks and find your match today.

Best Banks in Maine Near You:

  • Best for Borrowing: Camden National Bank
  • Best for College Students: Bank of America
  • Best for Customer Service: TD Bank
  • Best for Mobile App: KeyBank
  • Best for Security: People’s United Bank
Current APY
0% to 0.15%
Minimum balance
$0 to $100,000
Checking Fees
$0 to $20

Best for Borrowing: Camden National Bank

Camden National Bank has 60 branches in 51 different cities and towns in the state of Maine.

Apart from the regular set of banking products and services, Camden National Bank offers a service known as MortgageTouch™ if you’re looking to buy a home. This incorporates modern technology with guidance from local experts for a better home buying experience. 

The application process only takes a couple of minutes to complete and you can seamlessly link your bank accounts with digging through paper files. It is also highly securely with top tier encryption to ensure the privacy of data.

The bank also has great customer service. You can visit the banking center or give them a call to solve your banking needs.

Current APY
0.01% to 0.06%
Minimum balance
$500
Checking Fees
$0 to $25 but can be waived

Best for College Students: Bank of America

Bank of America has been ranked as 1 of the best banks in the U.S. for college students owing to its low overdraft fees and volume of ATMs in the country. It operates with 14 branches in 12 different cities and towns in the state of Maine. 

Bank of America offers a fee waiver for college students under the age of 24. Qualifying students can take advantage of its checking account and savings account by enjoying all the benefits without paying the monthly maintenance fee. The bank also offers credit cards just for students with a 3% cashback in the category of your choice: online shopping, off-campus dining and more.

Minimum balance
$0
Checking Fees
$0 to $25

Best for Customer Service: TD Bank

TD Bank is a popular bank with over 44 branches in 35 locations throughout Maine. The bank also has 1,189 more locations in 15 states, making it convenient if you travel often.

TD Bank has been ranked No. 1 in customer satisfaction among national banks by J.D. Power, a global leader in consumer insights, advisory services and data and analytics. TD Bank ranks highest in the factors of convenience, branch service and online banking satisfaction. 

Checking Fees
$0 to $50

Best for Mobile App: KeyBank

KeyBank operates with 43 branches in Maine. It has a free and easy-to-use mobile banking app. Its security is state-of-the-art and has a 24/7 customer service. With the app you can complete a range of activities including:

  • Deposit checks from your phone with the mobile app
  • Sign on with your fingerprint or face ID in the mobile app
  • Schedule and pay bills
  • Send money to friends and family
  • Lock and unlock credit and debit cards.
  • Order checks
  • Activate credit and debit cards
  • Set up account alerts to monitor
Checking Fees
$10 to $30

Best for Security: People’s United Bank

People’s United Bank is a premier, community-based, regional Northeast bank with more than 5,500 employees offering commercial and retail banking, as well as wealth management services. The bank operates with 26 branches in 23 different cities and towns in the state of Maine. It also has a network of over 400 retail locations in Connecticut, New York, Massachusetts, Vermont and New Hampshire.

The bank offers premium digital identity protection services called AlwaysChecking. It enables you to actively monitor yours and your family’s digital, credit and social information in a single and secure dashboard. It also provides real-time alerts and mitigation when necessary. You can get this service for free with any People’s United Bank personal checking account.

Frequently Asked Questions

Q: What is a debit card?

A: A debit card is a type of bank card linked to your checking account. Unlike a credit card, a debit card works like a check and allows you to access money you already have. Use this card to draw cash at an ATM or pay for purchases online or at any store that accepts card payment. 

Q: Is it possible to open an account for a minor?

A: Yes. Most banks have a dedicated account for teenagers that can be opened with a parent. As a parent, you can monitor the bank accounts as well as set ATM limits.

Choose the Right Bank in Maine

Today’s market gives you a wide variety of physical and online banks to choose from. To find the bank that serves you best, weigh the benefits of each choice. Consider the location, products and services and fees and charges to make an informed decision.

Methodology

To determine the best banks in Maine, Benzinga analyzed over 100 banks and financial institutions. We gave weight to banks in Maine 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.

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