Kiplinger Readers' Choice Awards: National Banks

Kiplinger Readers' Choice Awards 2023 national banks banner

(Image credit: Future)

last updated 31 May 2023

About the Kiplinger Readers’ Choice Awards

The Kiplinger Readers’ Choice Awards aim to recognize and celebrate the best products and services in the personal finance arena. We asked you, our Kiplinger community, to help us name the products and services you think have delivered excellent value in the past year.

Our Awards recognize excellence in everything from credit cards, banks and brokers to insurers, tax software and financial apps. More than 2,600 readers responded to our survey, and we’re sharing the results here. For each category, we’ve listed an overall winner that earned the highest score. We’ve also highlighted other products and services that earned above-average scores for various criteria we asked readers to assess.

By voting, our community has helped us form our guide to the very best financial products. These are the products and companies that you think stand out from the crowd.

Kiplinger Readers' Choice Awards: National Banks

These large, brick-and-mortar institutions have a full range of account offerings and branches around the U.S. for in-person services. Readers rated them on the strength of customer service, how likely they would be to recommend the bank to others and how satisfied they are overall with the bank.

OVERALL WINNER: TD Bank

Outstanding for:

Customer service
Most recommended
Overall satisfaction

TD Bank came out comfortably ahead in all the areas we asked readers to assess. TD has more than 1,100 locations in the eastern U.S., stretching from Maine to Florida. It offers several checking accounts — including one that requires a low, $100 daily balance to avoid a $15 monthly fee — and a couple of savings accounts, including one that recently offered as much as 3.51% for customers who keep balances of $250,000 or more and have linked another eligible TD account to it.

Certificates of deposit recently yielded as much as 4.5% on a nine-month Choice Promotional CD ($250 minimum deposit) for those who have a linked eligible TD checking account.

Chase

Outstanding for:

Customer service
Most recommended
Overall satisfaction

Chase also scored a hat trick among readers, although with slightly lower scores than TD Bank. By assets, Chase is the largest bank in the U.S., and it has more than 4,700 branches spread across all of the lower 48 states and Washington, D.C. Chase offers checking accounts to fit most needs, including a basic one that requires a $500 monthly direct deposit, $1,500 daily checking balance, or $5,000 combined balance in qualifying Chase deposit and investment accounts to avoid a $12 monthly fee. Customers who maintain the highest balances can avoid monthly fees and get extra benefits (such as free checks and waived ATM and wire-transfer fees) with Chase’s Sapphire and Private Client checking accounts.

Chase also has a couple of savings accounts and certificates of deposit with varying maturities. Those with a qualifying linked checking account could recently get a 3.5% yield on a three-month CD with a $10,000 minimum deposit or 4% with a deposit of $100,000 or more.

Citizens Bank

Outstanding for:

Customer service
Overall satisfaction

Citizens Bank has about 1,200 branches in 14 states in New England, the Mid-Atlantic and the Midwest. Its checking accounts range from One Deposit Checking, which waives the $10 monthly fee if you make one deposit of any amount each statement period, to more feature-laden accounts. Citizens Quest Checking, for example, offers free checks and wire transfers, and it waives the $25 monthly fee for customers who have $5,000 in total deposits each month or maintain a combined $25,000 balance in deposits and investments with Citizens.

The bank offers savings accounts that pair with its checking accounts (the Quest Savings account, for example, is for those who have Quest Checking), and it has a few money market deposit accounts, too. The Quest Money Market recently yielded 2.75% for those who open an account with at least $25,000 in funds not already on deposit with Citizens. The 14-month CD recently yielded 2.75% ($1,000 minimum deposit).

Fifth Third Bank

Outstanding for:

Customer service
Most recommended

With nearly 1,100 branches, Fifth Third has a presence in 11 states in the Midwest and South. Its Momentum Checking account charges no monthly service fee, with no strings attached. Customers who keep balances of at least $100,000 in investable assets with the bank avoid a $25 monthly fee on Preferred Checking, which offers perks including no-fee ATM withdrawals and free personal checks and cashier’s checks. Savers have their choice among a savings account, money market deposit account and CDs, including a five-month promotional certificate that recently yielded 4.55% ($5,000 minimum deposit).

PNC Bank

Outstanding for:

Overall satisfaction

PNC has about 2,500 branches in 28 states—mostly in the eastern half of the U.S. and the Sun Belt—and Washington, D.C. Its Virtual Wallet packages blend a primary checking account with a secondary checking account for short-term needs and a savings account for longer-term goals. PNC also offers a money market deposit account that recently yielded 1.25% for those who have a balance of $500,000 or more and a Performance Select checking account with qualifying activity.

Kiplinger Readers' Choice Awards Categories

Lisa has been the editor of Kiplinger Personal Finance since June 2023. Previously, she spent more than a decade reporting and writing for the magazine on a variety of topics, including credit, banking and retirement. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.