With record low unemployment and a reasonable cost of living, Ohio packs plenty of amenities for residents. But if you live in Ohio, the large number of FDIC-insured banks can make it tough to choose just one. To help, we’ve pulled together a list of local, national, online, and regional banks operating in the state.
10 Best Banks in Ohio
The best checking accounts in Ohio offer the amenities you need, while also reducing fees. Most banks offer features like mobile check deposits and ATM access, but in-person customer service and access to branches can also make a difference. All the banks listed below are worth considering for their low-fee banking services, whether you’re in Cleveland, Columbus, or one of the many other great Ohio cities.
1. KeyBank
If you’re looking for an Ohio bank that provides a personal banking experience, KeyBank might have everything you need. The standard checking account comes without fees or balance requirements.
The best APY comes with its money market savings account option, which pays up to 5.00% APY. The bank operates branches and ATMs throughout Ohio, and you’ll get expanded ATM access at Allpoint ATMs nationwide.
Fees:
- No monthly fees
- $20 fee for overdrafts
Balance requirements:
- $10 opening deposit required
- No minimum daily balance
ATMs:
- Fee-free at KeyBank ATMs
- Fee-free at Allpoint ATMs nationwide
- $3 fee for out-of-network ATM transactions
Interest on balance:
- Up to 5.00% APY on money market savings accounts
- Up to 4.74% APY on CDs
Additional perks:
2. Huntington National Bank
Huntington National Bank has branches throughout the Midwest, but its headquarters is in Columbus. That gives the bank a strong presence throughout the state, with a bank branch in Columbus, Cleveland, and the Akron areas.
Huntington Bank has a fee-free checking account that even waives fees on overdrafts up to $50. But one of the biggest selling points for Huntington Bank is its interest rates. The 0.06% APY on savings accounts and 5.13% APY on CDs is better than average, particularly for traditional banks.
Fees:
- No monthly fees
- $15 (waived up to $50)
Balance requirements:
- No minimum deposit to open
- No minimum balance requirement
ATMs:
- Fee-free at more than 1,700 ATMs nationwide
- $3.50 out-of-network ATM fee
Interest on balance:
- Up to 0.06% APY on savings accounts
- Up to 5.13% APY on CDs
- Up to 4.18% APY on money market accounts
Additional perks:
- Standby Cash serves as an automatic line of credit
- Early access to paycheck with direct deposit
3. Chime
Chime is an online banking platform open to consumers throughout the U.S. Ohio residents looking for banking services will get all the basic amenities through Chime’s app. You get mobile check deposit, funds transfers, and a Visa debit card. Like many other online banking options, Chime also gives you cash access through partnerships with ATM providers and retailers nationwide.
Fees:
- No fees
- No fees for overdrafts
Balance requirements:
- No opening deposit required
- No minimum daily balance
ATMs:
- Fee-free at 60,000+ ATMs nationwide
- $2.50 fee for out-of-network ATM transactions
Interest on balance:
- 2.00% APY on savings accounts
Additional perks:
4. Wright Patt Credit Union
Credit unions have competitive rates and perks, but they also come with membership requirements. Wright Patt Credit Union is open to anyone who lives, works, worships, or attends school in 20 Ohio counties.
You’ll have fee-free ATM access at WPCU ATMs throughout Southwest and Central Ohio, as well as through CO-OP ATMs nationwide. But one of the biggest selling points is WPCU’s interest rates. Currently, they’re paying 7.00% APY on the first $1,000 in your savings account.
Fees:
- No monthly service fees
- $9 fees for overdrafts
Balance requirements:
- No opening deposit required
- No minimum daily balance
ATMs:
- Fee-free at WPCU ATMs
- Fee-free at CO-OP ATMs nationwide
- No fee for out-of-network ATM transactions
Interest on balance:
- Up to 7.00% APY on savings accounts
- Up to 4.85% APY on CDs
- 3.30% APY on money market accounts
Additional perks:
- WPCU Sunshine Community Fund supports local nonprofits
- Competitive rates on personal loans
5. Chase Bank
Chase is a national bank with locations across Ohio. The Chase Total Checking Account comes with a $12 monthly fee. However, Chase waives it if you have direct deposits of $500 or more each month, keep at least a $1,500 daily balance, or maintain a $5,000 minimum balance across all your Chase accounts.
For younger costumers, take a look at the Chase Student Checking Account, which is designed for students between the ages of 18 and 24.
Fees:
- $12 monthly fee (waived with requirements)
- $34 overdraft fee
Balance requirements:
- No minimum deposit to open
- No minimum daily balance
ATMs:
- Fee-free at 16,000+ Chase Bank ATMs
- $3-$5 out-of-network ATM fee
Interest on balance:
- 0.01% APY on savings accounts
- Up to 3.75% APY on CDs
Additional perks:
- $100 checking account bonus
- Credit cards offer bonuses and general rewards
6. Woodforest National Bank
Woodforest National Bank is a community bank with branches in Ohio, Alabama, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maryland, Mississippi, New York, North Carolina, Pennsylvania, South Carolina, Texas, Virginia, and West Virginia.
The basic checking account comes with a $6.95 fee, but Woodforest waives it with monthly direct deposit or a daily balance of at least $100.
Fees:
- $6.95 monthly maintenance fee (waived with requirements)
- $32 overdraft fee
Balance requirements:
- $25 deposit to open
- No minimum daily balance
ATMs:
- Fee-free at Woodforest National Bank ATMs
- $2.50 out-of-network ATM fee
Interest on balance:
- Up to 0.50% APY on savings account balances
- Up to 4.60% APY on CDs
Additional perks:
7. Fifth Third Bank
Headquartered in Cincinnati, Fifth Third Bank is one of the top regional banks in Ohio. You’ll get fee-free ATM access not only at Fifth Third ATMs but also at more than 40,000 partner ATMs nationwide. Fifth Third Momentum Checking comes with no monthly maintenance fees, and you can avoid overdraft fees by depositing enough money to cover the overage by midnight the next business day.
Fees:
- No monthly service fees
- $37 overdraft fee
Balance requirements:
- No deposit to open
- No minimum daily balance
ATMs:
- Fee-free at 1,500+ Fifth Third Bank ATMs
- Fee-free at 40,000+ partner ATMs nationwide
- $3 out-of-network ATM fee
Interest on balance:
- 0.01% APY on savings account balances
- Up to 4.75% APY on CDs
Additional perks:
- Early access to your paycheck
- Extra business day to resolve overdrafts
8. GO2bank
If you haven’t checked into online banks lately, you might have missed how far they’ve come. Not only are their interest rates and fees competitive with most traditional banks, they also offer features that make it easy to skip the bank branch experience. GO2bank offers nationwide access to cash at Allpoint ATMs, as well as cash deposits at more than 90,000 retailers.
Fees:
- $5 monthly maintenance fee (waived with requirements)
- $15 overdraft fee
Balance requirements:
- No deposit to open
- No minimum daily balance
ATMs:
- Fee-free at Allpoint ATMs nationwide
- $3 out-of-network ATM fee
Interest on balance:
- 4.50% APY on savings account balances
Additional perks:
- Up to 7% cash back on gift card purchases
- Deposit cash at 90,000+ retailers nationwide
9. Quontic Bank
Another online banking option is Quontic Bank, which began as a community bank in New York City in 2009. Quontic has a wider range of cash withdrawal options than most banks, thanks to partnerships with Allpoint, MoneyPass, and Citibank. But one feature that sets this bank apart is its mortgage loan program.
Quontic has been designated by the U.S. Treasury as a Community Development Financial Institution (CDFI), which allows it to issue loans to borrowers who fall outside the requirements for a conventional home loan.
Fees:
- No monthly fee
- No fees for overdrafts
Balance requirements:
- $100 opening deposit
- No minimum daily balance
ATMs:
- Fee-free at Allpoint ATMs nationwide
- Fee-free at MoneyPass ATMs
- Fee-free at SUM Program ATMs
- Fee-free at select Citibank ATMs
Interest on balance:
- Up to 1.10% APY on checking account balances
- 4.25% APY on savings accounts
- Up to 5.15% APY on CDs
- Up to 4.75% APY on money markets
Additional perks:
- CDFI lending makes mortgage loans available to a wider range of applicants
- Free contactless Quontic ring wearable with new checking account
10. Civista Bank
Local banks have plenty to offer, including a competitive annual percentage yield and personalized customer service. Civista Bank has branches in Northern, Northwestern, Central, and Southwestern Ohio, as well as Southeastern Indiana and Northern Kentucky. If you travel often, though, be aware that fee-free ATM transactions are limited to the service area.
Fees:
- No monthly fee
- $37 overdraft fee
Balance requirements:
- $50 opening deposit
- No minimum daily balance
ATMs:
- Fee-free at Civista ATMs nationwide
- $4.50 fee for out-of-network ATM transactions
Interest on balance:
- Rates not publicly disclosed
Additional perks:
Bottom Line
With so many Ohio banks, the options can be overwhelming. It can help to narrow down the features you need. From personalized banking services to help with investment accounts, choosing a bank account is a personal decision. Compare rates and features between financial institutions until you find the right bank to meet your needs.
Source: crediful.com