Best Banks in South Dakota

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Contributor, Benzinga
July 2, 2020

Looking for a bank in South Dakota but not sure where to start? 

Benzinga curated a comprehensive list of the best banks in the state. Compare and contrast the various options to find the bank that best suits your needs best. 

Best Banks in South Dakota Near You:

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

Best for Range of Accounts: Wells Fargo

Wells Fargo is 1 of the largest banks in the U.S. The bank has over 39 branches in 28 different cities and towns in South Dakota.

Wells Fargo offers various checking accounts for your banking needs. These include:

  • Everyday Checking. The most basic and popular account, Everyday Checking is ideal for college students aged 17 to 24. It includes free access to its mobile app, debit card and alerts.
  • Preferred Checking. This account earns interest and is ideal for Wells Fargo Home Mortage customers. In addition to its popular banking features, you get a $10 discount on personal style checks.
  • Portfolio by Wells Fargo®. Earn interest and get access to the Dedicated Wells Fargo Premier Banking Team for 24/7 personalized phone service.
  • Teen Checking. This account for teenagers can be opened with an adult. Parents can set limits on purchases and withdrawals.
  • Opportunity Checking. Opportunity Checking is an alternative account if you don’t qualify for the regular checking accounts.
Great Western Bank | Banking
securely through Great Western Bank | Banking's website

Best for AgriBusiness: Great Western Bank

Great Western Bank operates with 37 branches in South Dakota. The bank also has 135 more offices in 8 states.

All accounts come with the following benefits:

  • Debit cards with no monthly fees
  • Free online banking and bill pay
  • Free mobile banking with mobile check deposit
  • Free online statements
  • Free access to Visa Secure Remote Commerce

Great Western Bank has served agricultural businesses for over 80 years. The bank now ranks as the 5th largest farm lender bank in the U.S. Its agribusiness bankers have extensive farming and financial experience and are able to assist you whether you’re a producer or an agribusiness supplier.

The bank also customizes crop insurance plans for your operation. 

The First National Bank in Sioux Falls | Banking
securely through The First National Bank in Sioux Falls | Banking's website

Best for Students: The First National Bank in Sioux Falls

The First National Bank in Sioux Falls operates with 18 branches in 6 different South Dakota locations.

The bank offers a special account for high school and college students. The student account has many benefits:

  • Your own personal banker at a location convenient for you
  • Access to mobile banking, mobile deposit, bill pay, eAlerts and more
  • Direct deposits and automatic bill payments
  • No annual fee on your debit card
  • Free telephone banking services 
Bank of the West | banking
securely through Bank of the West | banking's website

Best for Cutting-Edge Mobile App: Bank of the West

Bank of the West operates with 8 branches in 8 different cities in South Dakota. The bank also has 526 more offices in 18 states. 

Bank of the West offers 2 types of checking accounts — Any Deposit Checking Account and Premier Checking account. The Any Deposit account is a low-cost account that gives you the flexibility and convenience to carry out your simple day-to-day banking needs. The Premier account is an interest-bearing account with added benefits.

The bank has a cutting edge mobile app. Its features include:

  • Quick mobile payments
  • Secure fingerprint login
  • Account text alerts
  • Easy mobile deposits
First Dakota National Bank | banking
securely through First Dakota National Bank | banking's website

Best for Businesses: First Dakota National Bank

First Dakota National Bank delivers a complete array of banking, investment and trust services for individuals, businesses and agribusiness customers. The bank operates with 19 branches in 14 locations in South Dakota. It doesn’t have any offices in other states.

First Dakota offers business savings, checking and internet banking options. It also provides business banking services such as loans, cash management and merchant card processing and business credit cards. 

There are 4 types of business accounts:

  • Just 1 Business Checking
  • Small Business Checking
  • Small Business Checking with Interest
  • Community Checking

Frequently Asked Questions

Q: Can you have checking accounts at multiple banks?

A: Yes. But having your checking accounts at 1 bank simplifies the banking process. There are pros to having multiple checking accounts. Be sure to manage multiple accounts carefully.

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. 

Choose the Right Bank in South Dakota

It’s important to consider location, products and services before you choose the right bank. Today’s market gives you a wide variety of physical and online banks to choose from. Weigh the benefits of each choice to find the bank that best serves your financial needs. 


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