12 Best Banks in Alabama

1. Chase

Chase runs 16 branches in Alabama, 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 Alabamians 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.

Set your expectations on the footprint. 16 branches across Alabama is not a bank on every corner, so treat Chase as a national account you can occasionally reach in person rather than a neighborhood bank. What carries it is the nationwide side: 5,000+ branches and 14,000+ ATMs, Zelle built in, a well-rated app, and the option to 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 Alabama branch network, claim the $400 with Chase here.

2. Current

A Birmingham commute, a grocery run and a utility bill do not wait for Friday. 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

Wells Fargo is one of the best choices in Alabama if you want both convenience and a strong welcome bonus. With more than 80 branch locations across the state, including Birmingham, Huntsville, and Mobile, you will have easy access to your money no matter where you live.

Right now new customers can earn a $325 bonus by opening an Everyday Checking account. All you need is a $25 minimum deposit and at least $1,000 in direct deposits within the first 90 days. Once you meet those requirements, Wells Fargo will add $325 directly to your account.

This account also comes with 24/7 fraud monitoring to help keep your money safe. There is a $15 monthly fee, but it can be waived if you set up qualifying direct deposits or maintain the required balance. For Alabamians who want both local branch access and an easy way to add hundreds of dollars to their savings, Wells Fargo is a reliable option worth considering.

4. First Citizens Bank

If you enroll in paperless billing, you can open a free checking account with First Citizens Bank and waive any monthly fees. Free checking accounts are some of the best checking accounts because you don’t have to worry about spending money as you’re trying to manage and save it. 

First Citizens Bank is known for its full-service spread available in almost 20 states. It has less competitive APY rates on savings accounts than online-only banks but offers small business and commercial loans. 

You can also experience hassle-free banking with the First Citizens Checking Account. No fees, no minimum balance requirement, and the convenience of 24/7 digital banking, bill pay, and mobile deposits. Enroll in paperless statements to avoid the monthly fee. Make your life easier with better banking.

You can also open several CDs and money market accounts with First Citizens Bank. If you’re looking for credit cards, this bank offers several to help you make the most of your purchases. 

5. Liberty Bank

You won’t find Liberty Bank locations anywhere else but Alabama. In fact, physical locations are limited to the following areas: 

• Sardis City
• Albertville
• Collinsville
• Crossville
• Altoona

Liberty Bank offers several personal banking services, including checking and savings accounts, credit cards, CDs, IRAs, and more. You can also set up business banking with Liberty Bank. 

When you open a personal account with Liberty Bank, you can waive the monthly maintenance fees. Check the specifics for each account to see exactly how to avoid those costly fees. 

Liberty Bank also offers its Overdraft Privilege service, which covers your overdrafts up to a certain amount. You can also open a savings account with a $25 minimum balance. 

6. Bryant Bank

This bank calls Alabama home, with over 15 branches available to visit. Bryant Bank is a small community bank, but minimizing its services is a disservice. 

Bryant Bank’s Basic Savings Account requires $100 to open. You can make six withdrawals per month for free. 

If you want to make more withdrawals after that, you’ll pay for the privilege. You can also use Bryant Bank for your business banking needs. 

Mobile banking makes using this bank for your finances easy. You get overdraft protection and a more personalized experience with a small community bank. 

You’ll need to visit a physical branch to open a Bryant Bank savings account. However, you can earn interest on your balance with this account. 

Newsweek recognized Bryant Bank as the best small bank in Alabama in 2020. Bryant Bank continues to serve its customers in Alabama with pride.

7. Regions Bank

You’ll find several Regions Bank locations in Texas as well as Alabama. There are over 20 branches located in Alabama that provide several financial services. 

You can open a checking and/or savings account online and apply for Regions Bank credit cards. These credit cards offer travel points, merchandise, gift cards, and cashback.

Regions Bank also specializes in wealth management. The InvestPath program connects you to skilled financial advisors who can help answer your financial questions. 

You can also use Regions Bank’s My GreenInsights to monitor your account balance, set up a budget, track your spending, and create various savings goals. Set up notifications to monitor your account as well. 

8. First Community Bank of Central Alabama

Based out of Wetumpka, Alabama, First Community Bank of Central Alabama offers free cashiers checks and waives monthly fees on its accounts if you have a balance of $2,500 or more. It also requires $100 to open an account. 

First Community Bank of Central Alabama was founded in 2001. It’s well-known for its exceptional customer service and wealth of financial products. 

You can open an interest-bearing checking account with this Alabaman bank. Savings accounts, mortgages, business banking, and wealth management are all areas where First Community Bank of Central Alabama shines. 

9. PNC Bank

PNC Bank has been ranked among some of the best national banks out there. It requires a $25 minimum opening deposit for most savings accounts and offers checking accounts as well. 

Virtual Wallet checking accounts let you pay bills and track deposits. You can also set up notifications if you are close to overdrafting. 

PNC Bank offers several bonuses from $50 to $400. For example, if you open a Performance Select Checking account, you can earn up to $400 if you deposit $5,000 or more into your account within 60 days of opening it. 

You can also waive the monthly fees associated with your checking account if you have $300 or more in your account, connect your savings and checking accounts, or are under 18 years of age. 

10. Peoples Bank of Alabama

Many Alabamans turn to the Peoples Bank of Alabama for personal and small business needs. The bank offers five checking accounts, one catering to students. 

Open an eCheckingPlus account, and you could earn a high interest rate. However, you’ll need at least $25,000 to deposit into the checking account to earn that interest rate. 

Peoples Bank of Alabama also offers money market accounts, CDs, lines of credit, and loans. The myEasyAdvisor automated program helps you improve your finances with personalized financial advice.

Only residents of Alabama can open a Peoples Bank of Alabama account. You can receive up to $6 monthly in ATM reimbursements if you choose e-statements or make at least 10 debit card purchases. 

11. Ally Bank

Banks with no branches are becoming more popular these days, and Ally Bank is no exception. Even though Ally Bank is an online-only bank, it offers 24/7 customer support and FDIC-insured accounts. 

For example, you can open an Interest Checking account and earn 0.25% APY if you have over $15,000 in the account. Otherwise, you can still earn 0.1% APY if you have at least some type of balance. 

Savings accounts earn up to 4% APY with Ally Bank. You can also use Zelle and an extensive ATM network to transfer and receive money. 

Depositing cash is impossible with Ally Bank. However, you can set up savings “buckets” to reach your savings goals, with up to 10 available at a time. 

12. Redstone Federal Credit Union

Government employees, military service members, and employees of over 1,500 partner organizations are eligible for Redstone Federal Credit Union membership. This credit union offers a wide variety of services, such as: 

• Checking accounts
• Savings accounts
• Money market accounts
• Mortgages
• Personal loans
• CDs
• Credit cards

If you open a Brighter Day Savings account, you can earn up to 3.03% APY on balances up to $2,500. You can also earn up to 0.45% APY on balances over that amount. 

The Visa Signature credit card from Redstone Federal Credit Union offers 5% cash back on restaurants and gas. You can also earn 3% cash back on groceries, utilities, phone service, and streaming services.