New York is the financial capital of the country, and hence, it is the head office of almost all top banks and is home to many other banks trying to make it in the banking sector. To find the best bank in New York, you need to analyze and compare the bank fees and deposit rates of many banks. The following is a list of banks based on how useful they are in different scenarios and financial needs.
Chase Bank
Starting with Chase Bank, it is the best bank in New York if you are looking for a bank within walking distance. This bank has almost 500 branches in the city, which is more compared to its competitors. Chase Bank also offers great financial services to its customers and is known for its top-class customer service. The bank is not great with its checking accounts, but its strong presence makes up for everything with easy access.
Apple Bank
This bank is a favorite among the New York residents for its free checking accounts. This bank is present only in New York, and it offers free checking accounts to New Yorkers with no monthly fee. Most banks waive off the monthly fee when a customer meets certain conditions, but with the ExtraValue checking account, customers get free service without any strings attached. In addition to this great facility, customers further get around $100 bonus when they opt for a recurring direct deposit from their employer or otherwise.
HSBC
This bank is an international bank with excellent customer service. This bank is known as a consumer-friendly bank in New York City. HSBC has been constantly defeating other banks in the race to becoming the favorite bank to deal with in New York because of its fair dealings and transparency. It also offers excellent overdraft facilities and a great dispute resolution mechanism. HSBC Choice Checking Account is free, but the condition is that direct deposits must be made in the account. The Advance and Premier accounts also include facilities such as waivers on foreign exchange fees and monthly discounts on ATM surcharges.
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Santander Bank
This bank is the best option for students in New York. The Santander Student Value Checking account offers unique facilities and benefits to international students. This account is free for students between the age group of 16– 25 years and offer discounts on various facilities like wire transfer and ATM withdrawals. Santander Bank and this particular account are great for students who receive overseas funds on a monthly basis.
Capital One
This bank provides one of the best rates on savings and investments. The Essential Savings account gives customers the highest interest rate along with the highest introductory rate. A new account with around $10,000 deposit can receive 0.80% to 0.50% APY, which is better than any other bank in the state. This bank is also a good choice for small business checking accounts in the country. It provides business checking accounts in two tiers with Spark Business Checking account and Capital One Spark Business Unlimited Checking account.
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