12 Best Banks in Minnesota for Your Banking Needs

1. Chase

Chase runs 47 branches in Minnesota, and it will pay you $400 to open a checking account. That is the largest new-checking bonus any major bank is offering right now, and it is money most Minnesotans leave on the table by keeping the account they opened years ago.

Here is the entire requirement. Open a new Total Checking account, then have $1,000 or more in qualifying direct deposits arrive within 90 days of enrolling in the offer. It is cumulative, so two or three ordinary paychecks clear it, and the bonus is paid within 15 days of you meeting the requirement. The $15 monthly service fee drops to $0 in any statement period with $500 or more in qualifying electronic deposits, a $1,500 daily beginning balance, or $5,000 in average beginning day balance across linked accounts. One trap to know: Zelle, cash, checks, wires and interest do not count toward either number.

Past the bonus, the footprint is the argument. 47 Minnesota branches plus 5,000+ branches and 14,000+ ATMs nationwide means you can deposit cash near home and still use the account anywhere you travel. Zelle is built in, the mobile app is well rated, and you can add a Chase savings account or credit card later under the same login.

The catch worth naming: the bonus is only open to people who are not already Chase checking customers, and you can collect one new-checking bonus every two years. It is reported to the IRS on a 1099-INT. If that fits you, open a Total Checking account and route your paycheck to it.

If you want the biggest checking bonus on the market alongside a real Minnesota branch network, claim the $400 with Chase here.

2. Current

A Minneapolis winter heating bill does not wait for your deposit. The gap between when a bill is due and when your paycheck lands is where most budgets actually break, and it is the specific problem Current is built for.

The signup math is simple. Open an account with promo code WELCOME75 and get $75 once your Eligible Payroll Deposits total $1,500 or more in your first 35 days. It is cumulative rather than one big deposit, it is new customers only, and the cash arrives about 10 business days after you cross the line. Recurring wages from an employer, a payroll provider or a government payer count. Non-direct-deposit ACH transfers, Venmo, Cash App, Zelle, PayPal, Google Pay, mobile check deposits, cash and one-off deposits such as a tax refund do not.

The feature that earns its keep after the bonus is Paycheck Advance, which lets you draw up to $1,000 of pay before payday and is offered by Finco Advance LLC rather than a bank. There is no monthly fee on the account, and the whole thing opens from your phone, which is the point in a state where the nearest branch may not be convenient.

One thing to be clear about, because it is routinely written up wrong: Current is a financial technology company, not a bank. Banking services come from Choice Financial Group and/or Cross River Bank, both Member FDIC, so deposit insurance reaches you on a pass-through basis up to $250,000 and depends on those conditions being met. If that structure is fine with you, open an account with code WELCOME75 and claim the $75.

3. Wells Fargo

Minnesota residents trust Wells Fargo for its extensive network of branches and ATMs, particularly in Minneapolis, St. Paul, and Rochester.

The Everyday Checking account is a great option, offering a $325 bonus when you open an account with $25 and receive $1,000 in qualifying direct deposits within 90 days.

With fraud monitoring, an intuitive mobile app, and a $15 monthly fee that can be waived, Wells Fargo makes banking easy for Minnesotans.

4. BMO Harris Bank

To avoid paying monthly fees for your new checking or savings account, glance at BMO Harris Bank. This bank offers several financial products, including business accounts, credit cards, money market accounts, mortgages, IRAs, CDs, and lines of credit. 

BMO Harris Bank incorporates over 600 physical branches and 1,300 ATMs nationwide. You can also earn rewards on your savings account to celebrate your good behavior. 

This bank is also well known for its exceptional customer service. You can reach customer support through live chat, over the phone, and in person at a physical branch. 

5. Bremer Bank

Based out of Saint Paul, Bremer Bank is a regional bank that serves the greater Minnesota community. It offers FDIC-insured accounts and access to over 37,000 ATMs nationwide. 

This community-conscious bank offers several financial products, including checking and savings accounts, small business banking, agricultural banking services, credit cards, money market accounts, loans, and CDs. While Bremer Bank offers low APY rates compared to other banks, its many other services make up for it. 

Checking accounts come with a $3 monthly maintenance fee, and savings accounts cost $4 monthly. However, you can waive these monthly fees if you meet specific criteria. 

6. Citizens Bank of Minnesota

Like Bremer Bank, Citizens Bank of Minnesota also offers agricultural and business banking. However, this Minnesota bank doesn’t charge any monthly fees for checking or savings accounts. 

There are only seven brick-and-mortar Citizens Bank of Minnesota locations. However, this community bank offers high school scholarships and a slew of financial calculators available to the public. 

Many Citizens Bank of Minnesota accounts come with overdraft protection. You can also apply for credit cards from this bank. 

7. Financial Security Bank

Did you know that Financial Security Bank in Minnesota is an SBA lender? This financial institution has been around since 1884, making it one of the oldest banks in the nation. 

In addition to lending to small businesses, Financial Security Bank offers a free small business checking account. This account has no monthly fees or minimum balance requirements, but you must have at least $100 to open the account. 

Financial Security Bank offers digital banking options. If you plan on opening a small business in Minnesota, Financial Security Bank can help. 

8. Huntington Bank

If you want to open a checking and savings account, you can save with Huntington Bank. This bank waives any fees you would pay for holding a checking account if you also have a savings account in your name. 

While Huntington Bank doesn’t offer interest-bearing checking accounts, you won’t pay monthly maintenance fees. This bank doesn’t require you to have a minimum opening deposit either. 

Huntington Bank also offers teen and business accounts. You can apply for several credit cards as well. 

This regional bank commands a network of 1,000 physical branches across the Midwest. A total of 80 of those locations are in Minnesota. 

Your new Huntington Bank checking account comes with a Heads Up feature that alerts you of transactions that seem out of place. You can also use the Spend Setter function for budgeting. 

Military members can also open an account with Huntington Bank. Holding an account gives you access to financial planners and a user-friendly mobile app as well. 

9. MidWestOne Bank

Believe it or not, MidWestOne Bank has branches in the following states: 

• Iowa
• Florida
• Wisconsin
• Colorado 
• Minnesota

This community bank may seem spread out, but it offers a superior banking service. You can choose from several financial products and accounts depending on your needs. 

For example, MidWestOne Bank offers several checking accounts, one with no minimum daily balance requirements or monthly maintenance fees. However, you may need at least $100 to open the account. 

MidWestOne Bank has 15 locations in Minnesota alone. You can also use the bank’s website to manage your finances online. 

If you’re looking for personal loans and lines of credit, MidWestOne offers competitive rates. You can also request a custom debit card for your new checking account. 

You will be subject to a $35 overdraft fee if you charge more than you have in your account. However, MidWestOne Bank does offer 0.1% APY on savings accounts and over 4% APY on money market accounts and CDs. 

10. SPIRE Credit Union

You might not have heard of SPIRE Credit Union if you don’t live in Minnesota. However, this credit union has over 90,000 members and 20 physical locations. 

SPIRE Credit Union offers several accounts and services, including business checking accounts. You can choose from four accounts built to help small businesses thrive. 

The most basic business account doesn’t require a minimum balance. However, it does come with a $10 monthly fee, but you can waive that if you choose paperless statements and use your free Visa debit card. 

SPIRE Credit Union offers access to a network of 30,000 ATMs. If you open a business savings account and keep between $100 and $2,000 in the account, you can earn up to 0.03% APY. 

11. Associated Bank

Take a look at the following list of financial products, and you might think we’re talking about a national bank. Instead, it’s all the services you can use Associated Bank for: 

• Checking accounts
• Saving accounts
• Business banking
• Certificates of deposit (CDs)
• Money market accounts
• Retirement accounts
• Private banking 

Though Associated Bank is headquartered in Wisconsin, Minnesota residents can take advantage of everything this bank offers. This includes no monthly fees for checking and savings accounts. 

You can access your Associated Bank digital wallet online to manage your money. Make payments through either Apple or Google Pay with your Associated Bank debit or credit cards. 

Associated Bank also offers discounted closing costs if you participate in their mortgage program. While opening deposits might be high for some accounts, Associated Bank is worth checking out if you live in Minnesota. 

12. Wings Financial Credit Union

You’ve heard of high-yield savings accounts, but have you heard of Wings Financial Credit Union’s high-yield checking accounts? These checking accounts allow you to earn interest on your checking account balance without jumping through any hoops. 

Wings Financial Credit Union also offers high-yield savings accounts, credit cards, mortgages, lines of credit, money market accounts, CDs, and IRAs. Plus, there are no monthly fees for checking or savings accounts. 

Membership for Wings Financial Credit Union is open to employees of 50 different airlines. This credit union also gives members access to over 80,000 ATMs and 33 brick-and-mortar locations nationwide. 

Note that if you do open an interest-bearing account, it compounds quarterly. This can earn you less than an account that compounds more frequently, but it’s better than checking accounts that don’t accrue interest at all.