2023's Top 14 Tennessee Financial Institutions
Many banks and credit unions have their headquarters in Tennessee, a state with a population of over seven million. In addition, a large number of national banks have established physical locations in Tennessee.
As the financial sector has become increasingly digitized, a growing number of online-only banks have emerged to serve customers globally.
It can be difficult to find a reliable financial institution to meet your individual or business requirements. The good news is that you can find a bank or credit union in Tennessee that meets your needs thanks to the abundance of options.
Look for a financial institution with branches in your immediate area, but if you frequently visit different states, a large national bank or an internet-only bank might be more practical. Careful consideration of the various banking options and the products and services they provide is also essential.
As We Will See Below
The State of Tennessee's Top 14 Financial Institutions
The top Tennessee banks where new accounts can be opened right now are listed below.
Check Out the Top Bonuses and Deals from Tennessee Banks Today!
Bank of the First Citizens
North Carolina-based First Citizens Bank is a member of the Federal Deposit Insurance Corporation. Knoxville, Millington, Nashville, Franklin, and Arlington are just some of the Tennessee locations where you can visit a branch. The bank is an equal housing lender and regularly hosts financial education programs aimed at improving the financial literacy of its clientele.
CDs, IRAs, loans, credit and debit cards, and more are all available at First Citizens Bank. Customers have the option of using the bank's website or visiting one of its physical branches to open a checking or savings account.
When opening an online checking or savings account with First Citizens Bank, the questionnaire is a standout feature. The questionnaire's goal is to help users select the most appropriate account type.
There are paid accounts that many customers can avoid if they meet the requirements (while others are free)
To get the details:
- Get the facts in our First Citizens Bank Review.
Second, Bank of America
Over the past century, Bank of America has built a sizable customer base in Tennessee. Throughout the entire state, you can access a network of bank branches and ATMs. Customers can use the branch locator on their website to locate the most convenient branch or ATM.
Bank of America, like most other banks, provides convenient remote banking options, including online and mobile banking. As a customer, you get access to helpful videos and articles about money management, which is a great perk.
The bank provides a wide range of banking services, including credit cards, debit cards, loans, and mortgages, to both individuals and businesses. There are a variety of tiered checking account options available to customers who are interested in opening a checking account.
Additionally, many different types of savings accounts, CDs, and IRAs are available to savers. Investment, retirement, and wealth management are some of Merrill's other offerings.
To find out more:
- Our full Bank of America Review is available here.
Three Regions Bank
The South, the Midwest, and Texas are all served by Regions Bank, which was established in the 1970s. After absorbing Union Planters Bank in 2004, the bank established a sizable presence in the Volunteer State.
Regions Bank's customers can access their money through traditional bank branches and the bank's website. Customers of banks now have the option of applying for credit cards and savings accounts online.
Notifications can be sent to you via email, text, or a mobile app. Personal and commercial banking customers can take advantage of the bank's loan, line of credit, and mortgage options. Wealth management and electronic investment opportunities may also be made available to account holders.
Find out more about
- Here's our complete analysis of Regions Bank.
FSNB (formerly Fort Sill National Bank) operates 36 locations in 26 different cities throughout the Volunteer State. Financial Services National Bank (FSNB) is a comprehensive financial institution.
You can open a checking or savings account with the bank online, and they cater to a wide range of customer types.
Free direct deposits, interest earnings, and no monthly maintenance fees are just some of the perks of the checking and savings accounts on offer.
FSNB's military and veteran accounts are among the most notable it offers.
Number Five: Wells Fargo
More than 7,200 of its branches can be found in both the United States and other countries; Wells Fargo is a global financial institution. Customers who frequently travel will have their banking needs met anywhere in the country thanks to this extensive network. Wells Fargo is a universal bank, offering services to both consumers and businesses.
Everything you'd want from a major U.S. bank is available at this institution. S financial institution offering deposit accounts, mortgages, personal loans, and investment opportunities
Full account visibility, account alerts, bill payment, and check deposit capabilities are just some of the features that users of their online banking services and mobile app appreciate.
Wells Fargo has low initial deposit requirements for savings and checking accounts.
To get the details:
- Browse our in-depth Wells Fargo Review here.
Bank of Tennessee, No. 6
The Bank of Tennessee was founded in 1974 and is categorized as a medium-sized institution. It has its main office in Kingsport and 21 additional locations in Tennessee and North Carolina.
You can open any type of account at Bank of Tennessee, from a savings account to a retirement account to a brokerage account.
There is a wide range of annual percentage yields (APY), minimum balances, and service fees available across the available account types.
Customers who would prefer not to enter one of their physical branches can use the ATMs or ITMs (Interactive Teller Machines) that are located in their parking lots.
Bank of the Fifth Third
Fifth Third Bank is one of the largest banks in the Midwest and has a national charter from the FDIC. S Fifth Third Bank offers convenient services for both individuals and businesses.
There are 40 branch locations in 13 different Tennessee cities, and additional network and partner ATMs are available for customers' convenience.
Digital banking may help people in places where there isn't a Fifth Third branch. Investment and wealth management services, checking and savings accounts, certificates of deposit, money market accounts, and financing options are all part of the suite of financial services provided.
Fifth Third Bank offers checking accounts with no monthly maintenance fees or minimum balance requirements.
To get the details:
- Our complete review of Fifth Third Bank is available here.
SunTrust Bank and BB&T's Truist Financial Corporation come in at number 8.
In 2019, BB&T and SunTrust Bank merged to form Truist Financial Corporation.
FDIC-insured and an equal-opportunity lender, Truist is a reliable choice. Customers have access to the full range of banking products and services, including a selection of checking and savings accounts, as well as asset management, lending, and insurance options.
Overdraft fees aren't charged for some checking accounts.
To get the details:
- Our Comprehensive Review of Truist Bank
Previously known as First Tennessee Bank, Number Nine is now First Horizon.
Formerly known as First Tennessee Bank, the Memphis-based First Horizon Bank First Horizon has over 180 locations in and around the Volunteer State.
The bank caters to both individual and corporate customers.
There are a variety of checking accounts, savings accounts, debit cards, and credit cards available to bank customers. There are investment opportunities, mortgages, and loans available through the bank.
Bank of Wilson & Trust Company
In its 29 locations throughout middle Tennessee, Wilson Bank & Trust provides a full range of banking services. The bank provides a full suite of traditional banking services in addition to a variety of electronic options.
Deposit accounts, demand deposits, individual retirement accounts, and debit cards are all available to Wilson Bank & Trust clients.
Loan payments, account balance inquiries, and remote deposits can all be made via the bank's website and mobile app. Additional services include wealth management, investment opportunities, and insurance coverage.
Bank of Chase
JPMorgan Chase owns a majority stake in Chase, making it a subsidiary of the parent company. In the United States, Chase is synonymous with banking services.
Customers who like to travel around can rest assured that most states have network ATMs and bank branches. Mortgages, loans, debit and credit cards, and bank accounts are all available from Chase.
Investors with a Chase self-led investment account have access to investment and financial planning services and may trade stocks, ETFs, mutual funds, and options.
To get the details:
- Check out Our Analysis of Chase Bank
Twelfth CIT Bank
CIT Bank is a 100% digital, FDIC-insured institution. Commercial Investment Trust Bank, also known as CIT Bank, is a subsidiary of CIT Group.
CIT Bank provides its customers with many of the same banking services available at brick-and-mortar institutions. You can check your bank account balance, pay bills, and view transaction histories instantly with the help of online and mobile banking.
Its interest rates are considerably higher than those of most other banks. Applying for a checking account, savings account, money market account, or certificate of deposit with CIT can be done online or via the company's mobile app.
To get the details:
XIII. Axos Bank
When it comes to the best online banks in 2020, Axos Bank is at the top of the list. Customers can take advantage of the bank's many online and mobile banking options.
Although all transactions are completed online, the selection of available financial services is not drastically different from that of traditional brick-and-mortar banks. Protect your banking information and personal details with the Axos app's biometric authentication methods, which include fingerprint, voiceprint, and facial recognition.
Axos caters to a wide variety of customers by providing several different types of checking and savings accounts. Options for saving and investing include certificates of deposit, money market accounts, and loans for things like cars and houses.
Transactions between peers and bill-paying automation services are as smooth as can be. Personal banking customers also have access to a support team that is available around the clock.
To get the details:
- Take a look at what we thought of Axos Bank.
Bank, Ally, No. 14
Ally Bank is an online-only financial institution that provides most services available at brick-and-mortar institutions. Ally Bank is well-known for offering competitive interest rates in comparison to other banks.
There are no hidden costs, no minimum balance, and an annual percentage yield (APY) of 1% with an online savings account. 60%
In addition, Ally Bank's checking accounts offer a 0% APY. When your daily balance is over $15,000, you'll get 25% interest, but if it's less than that, you won't pay any All balances under $15,000 earn 10% APY.
To get the details:
- See what we thought of Ally Bank here!
Identifying Top Tennessee Financial Institutions
Which Tennessee bank is best for you depends on your individual needs and priorities. Each has its advantages and disadvantages, so it's up to the individual to decide which bank is best for them.
Institutions Located Near You
To put it simply, local banks care more about the community they serve. In-person interactions between customers and bank employees lead to a more personalized level of service.
There will likely be some leeway for local banks to tailor financial products to the specific requirements of their individual and commercial banking customers. Customers of community banks may feel more appreciated by their financial advisors if they are given this kind of individualized service. If you find yourself in a financially precarious situation, your personal connections will be invaluable.
However, customers may have trouble locating network ATMs while traveling if their local bank only serves a limited geographic area. The range of services provided by some regional banks is narrower than that of their national counterparts.
Customers who have their hearts set on a specific banking feature or service may be forced to look elsewhere, either to a more comprehensive national bank or to an online bank.
When compared to their local counterparts, national banks typically provide a wider variety of banking services, as well as an extensive branch and ATM network. Frequent flyers who bank at major national banks can use the network's ATMs and local branches in many cities. It's not uncommon for major supermarkets like Walmart and Kroger to house national bank branches with extended hours.
Since national banks cater to a wider range of people, their financial offerings tend to be generic and hard to tailor to individual needs. When dealing with a national bank, you won't get the same level of personalized service that you would at a local institution.
Looking into online-only banks may help you decide between regional and national institutions.
Exclusively Digital Financial Institutions
Online banks, like national banks, don't provide the same level of personal service as traditional neighborhood institutions. The services offered by traditional banks are still widely available; however, many online banks now offer these services and more.
The benefits of using an online bank are numerous. Interest rates at online-only banks typically exceed those at traditional brick-and-mortar institutions and even the national average. Their support staff is available round-the-clock, giving you more options. Encryption and biometric authentication, for example, are now expected methods of protecting customer information.
Due to higher interest rates, online banks may also provide the best savings accounts. It's smart to do some research and weigh your options before committing to any bank, whether it's brick-and-mortar or digital.
Questions That We Get A Lot
Which banks in Tennessee are the most frequented by locals?
Because of the size of the Volunteer State, banking customers' preferences can vary widely from one branch to the next. The sheer number of people in the area makes it tricky to determine which bank is the most well-liked.
Bank, First Horizon Bank, and the U.S. S There is stiff competition among the state's top banks. Since the Covid-19 pandemic caused many banks to move their services online, online banking has also become increasingly popular.
Where can I find a list of the top Tennessee banks?
Regions Bank has more physical locations than any other bank in the Volunteer State. The state of Tennessee is home to several large financial institutions, including First Tennessee Bank, First Horizon Bank, and Truist Bank.
Where in Nashville can I find banks?
Nashville is home to more than 150 different banks. In addition, Nashville is home to the headquarters of at least 86 different banks and credit unions. Several of the banks discussed here have local branches in Nashville.
Which Tennessee banks are the largest?
The state of Tennessee is served by a large number of major national banks. These banks include First Citizens Bank, Chase, Wells Fargo, BBVA, and U. S Bank Having access to a nationwide network of ATMs is the primary advantage of going with a large, well-known national bank.
Can you recommend Tennessee State Bank?
The services provided by Tennessee State Bank are comprehensive. CDs, IRAs, checking, savings, and credit/debit cards are all examples of financial products.
There are only 15 branch offices and 40 network ATMs available statewide. The reviews on the internet leave a lot to be desired. If you're having trouble deciding which of the top banks in Tennessee is right for you, you might want to look through our complete list.Share: Send this link to your Facebook friends! Facebook Please RT this article if you liked it! Twitter Publish this piece on your LinkedIn LinkedIn Forward this piece via WhatsApp Whatsapp Send this piece to a friend by email Email
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