Best Banks in Montana

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Contributor, Benzinga
July 22, 2020

The Treasure State isn’t just rich in mineral reserves — it offers its residents banking options that range from local institutions to national organizations. Each bank offers various account options including checking accounts, savings accounts and more. 

With so many options to choose from, finding the right bank can be daunting. Start with Benzinga’s guide to the best banks in Montana to determine the perfect match.

Best Banks in Montana Near You:

  • Best for Business Banking: Bank of Montana
  • Best Checking Account: Axos Bank
  • Best for Digital Banking Services: BBVA
  • Best Savings Account: CIT Bank
  • Best for Investing Services: Wells Fargo
Bank of Montana
securely through Bank of Montana's website

Best for Business Banking: Bank of Montana

Bank of Montana is a regional leader in business banking services, and it offers the largest network of ATMs in the country. It was been named one of MSN Money’s 359 safest banks in the United States. The bank offers an array of loan and deposit services and features some of the nation’s most competitive rates.

It specializes in government-enhanced loans, including those offered in conjunction with the U.S. Department of Agriculture, the Small Business Administration, Montana Board of Investments and other state and federal programs. Entrepreneurs can enjoy business loan solutions, including multifamily financing and commercial loans.

 Its 3 business banking account options include:

  • Business checking account offers up to 4 free ATM withdrawals per month, free internet banking, free 1st order of checks and free cashier checks. There’s no interest or maintenance fee for this account.
  • Business savings account offers up to 4 free ATM withdrawals per month, free internet banking and bill pay and free cashier checks. There’s no maintenance fee for this account. Interest rates vary – call for current rates.
  • Business Money Market Account offers up to 4 free ATM withdrawals in any ATM in the U.S., free cashier checks and free internet banking. There’s no maintenance fee for this account. The interest rates vary, so call for the current rates.

Additional services and tools to enjoy include online banking, online cash management and financial calculators.

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

Best Checking Account: Axos Bank

Axos is an online bank that offers a host of personal and business banking options to account holders. You can easily take out a personal loan or home purchase loan. You’ll also enjoy income property lending and qualify for auto refinance amounts between $10,000 to $90,000. 

It’s popularly known for its checking account options, which include:

  • Essential checking: this no-fee checking account lets you enjoy unlimited domestic ATM fee reimbursements, has no monthly maintenance fees, no overdraft fund fees, 0 monthly balance requirements and exclusive Visa perks and offers. You’ll also get your paycheck up to 2 days early with its Direct Deposit Express.
  • Rewards checking: direct deposit and frequent debit card users can earn up to 1.25% annual percentage yield (APY). The account has 0 maintenance fees and requires a $50 minimum account opening balance.
  • CashBack checking: with this account, you’ll enjoy 1% cash back on eligible purchases as long as you maintain a $1,500 balance.
  • Golden checking: this interest-bearing account is best suited for customers aged over 55 years. Features include 0.20% APY on all balances, $50 minimum account opening balance and unlimited check-writing privileges. The account has no maintenance fee.
  • First checking: kids ages 13 to 17 years can open this account and earn 0.25% APY and get up to $12 fee reimbursements per month at domestic ATMs. There are no overdraft or monthly maintenance fees. The daily transaction limit is $100 for cash and $500 for debit.

Best for Digital Banking Services: BBVA

BBVA’s variety of digital banking services allow you to bank on-the-go. Online banking and mobile banking services are available to account holders free of charge. You can also use an online branch directory to find out about branch hours and services offered at a branch near you. 

Activating your mobile banking service is as easy as downloading the BBVA app, launching it and following the account setup instructions. BBVA’s digital banking services allow you to:

  • Access your account information in 1 place
  • Send money and transfer funds
  • Pay your bills
  • Manage all your financial accounts in one place
  • Set up alerts for deposits, withdrawals, insufficient funds, cleared checks, account balances and more
  • Access financial tools

Use Mobile Deposit® on your smartphone to remotely deposit a check. You can also enroll your BBVA Visa® Cards in Google Pay™, Apple Pay™, and Samsung Pay™. Its ATMs also provide 24/7, full-service banking, including money transfer, cash or check deposits, cash withdrawal and even mini-statement printing. 

ATMs are also fluent in both Spanish and English and can serve blind or visually impaired clients. Its fee-free checking account allows you to save about $144 per year compared to other banks. You may also explore BBVA’s money market account and certificates of deposit (CDs) as investment options.

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

Best Savings Account: CIT Bank

CIT Bank is an online bank that specializes in savings accounts. It boasts 2 popular savings account options:

  • Savings Builder: you can open this account with a $100 minimum deposit and enjoy some of the nation’s best rates. There’s no account maintenance fee, and you can deposit checks remotely through the mobile app.
  • Premium High Yield Savings: this tiered interest rate account offers 1% APY on balances. There are no fees to open or maintain an account and the account is FDIC insured. Enjoy daily compounding interest to maximize your earning potential.

You can also open an eChecking account with $100 and enjoy free ATM withdrawals. You’ll have up to $30 in other bank’s ATM fees refunded per month. 

Other savings services from CIT bank include its money market account and CDs. A money market account requires a $100 minimum opening deposit and offers 1.20% APY. Its resources section gives access to information, services and tools to help you open and manage your savings account.

Wells Fargo | banking
Best For
  • In-person service and support
securely through Wells Fargo | banking's website

Best for Investing Services: Wells Fargo

Wells Fargo serves private individuals, small businesses and commercial institutions. Like many other major banks, it offers checking and savings accounts, CDs, mortgage loans, personal loans and wealth management services. 

Wells Fargo has 3 investing options specifically designed for your unique needs:

  • WellsTrade® Brokerage Account: buy and sell stocks, EFTs and no-load mutual funds entirely online
  • Intuitive Investor® Account: combines professional advice with digital investing technology to help you achieve a diversified portfolio
  • Dedicated financial advisor: work with 1 of the company’s dedicated financial advisors to create a personalized investment strategy to achieve your goals

Its financial education section offers numerous resources for financial guidance, including credit management, retirement, homeownership, investing and insurance protection.

Frequently Asked Questions

Q: How much does online banking cost?

A: Usually, there’s no fee for online banking when you have an account with most banks. But there may be other fees associated with your account.

Q: What does linking my accounts mean?

A: When you link all eligible accounts, the combined balance of all your savings, checking, money market savings, IRA or CD may help you avoid the monthly fee on your primary savings or checking account. You can also get a statement with your associated accounts for convenience in assessing your finances.

Choose the Right Bank for You

Choosing the right bank can be a daunting task. Start by comparing banks by account types offered, fees and rates and ATMs and branches. 

Browse the bank website, visit a branch or ask for recommendations from family and friends. You’re sure to find the right financial hub for your money.


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