14 Best Banks in California Locals Actually Recommend

1. Chase

Chase runs 858 branches in California, 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 Californians 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. 858 California 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 California branch network, claim the $400 with Chase here.

2. Current

California rent takes its cut on the first, whatever day your employer pays you. 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 $750 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

In California, Wells Fargo is a household name with a significant presence, boasting over 800 branches and more than 3,000 ATMs statewide. 

From Los Angeles to San Francisco, Wells Fargo is one of the most accessible banks in the Golden State. The Everyday Checking account is a great option for Californians, offering a $325 bonus when you open an account with $25 and receive $1,000 or more in direct deposits within 90 days. 

The bank’s mobile app and online banking tools are top-rated, allowing you to manage your finances effortlessly. With a $15 monthly fee that’s waivable through qualifying activities, it’s a practical and affordable solution. 

4. Alliant Credit Union

Alliant Credit Union is a top choice for Californians who want to earn more from their money. Their High-Rate Checking pays 0.25% APY, with no monthly fees. Just meet a few simple requirements to start earning.

Their high-yield savings account is even better; it pays 3.1% APY, and Alliant will even cover your $5 minimum deposit, so it’s free to open.

Want to grow your savings even more? Alliant also offers some of the best CD rates in California, with jumbo CDs starting at just $1,000.

It’s easy to join: when you open an account, you’ll be asked to join Foster Care to Success, a partner charity. Don’t worry, Alliant covers the cost for you, so it’s completely free and takes just a few clicks.

5. Bank of America

Large national banks like Bank of America can’t necessarily compete with the APY ratings of the best digital banks, but they do offer their own unique advantages.

For example, Bank of America has a widespread presence with 450 branches in California, making it a convenient choice for those who frequently travel.

Bank of America also provides various account options to cater to different needs, such as Advantage SafeBalance Banking, Advantage Plus Checking, and Advantage Relationship Checking. While these accounts may have a monthly maintenance fee, Bank of America offers promotions and ways to waive these fees if you meet specific criteria.

Additionally, Bank of America has the Preferred Rewards program, which allows customers to enjoy additional benefits and perks. By enrolling in this program, you not only gain access to exclusive rewards but also have the opportunity to waive certain fees associated with your account. So, if you're looking for a bank that combines convenience with promotional offers, Bank of America is definitely worth considering.

6. Bank of the West

This Californian bank also calls over 10 states home. It scores high in customer service and offers up to 0.01% APY on its accounts. 

Bank of the West also has a strong online presence. You must have at least $25 to put into your new Bank of the West account, and you can waive the $10 monthly fee if you make a direct deposit during that month’s statement cycle. 

7. Capital One

Capital One’s 360 Checking account has a reputation for offering a free bank account with an APY of 0.1%. You can also open a Capital One Performance Savings account without worrying about monthly fees.

Many people choose Capital One because it offers free overdraft solutions in case of an emergency. Capital One’s CD rates are also above 4% APY most of the time, and you don’t have to have a minimum deposit to open one.

Additionally, Capital One periodically offers promotions and special deals that you can explore on their official website to maximize your banking benefits.

8. Citi

Not to be confused with CIT Bank, the next financial institution on our list, Citi is a favorite among Californians with some extra cash. Citi offers plenty of checking and savings account options.

You can earn up to $2,000 if you complete the following: 

• Open a new Priority Account
• Deposit at least $300,000 into your account within the first 20 days
• Maintain that balance for 60 days beyond the 21st day

Should your balance fall below $300,000 at any point, you’ll receive a lower welcome bonus. Citi deposits most bonuses a month after you complete the requirements. 

9. Discover

Discover offers reward credit cards, online banking, home equity loans, student loans, and personal loans.

If you already have a Discover credit card, it'll be easy to join this online bank with a new checking account or savings account. They also offer competitive rates on their savings account, money market account, and CDs.

A good thing about this online bank is that they don't charge for overdraft fees nor is there a monthly service fee.

10. Golden 1 Credit Union

This California credit union has no monthly fees, requires only a $1 minimum deposit, and serves customers from over 70 branches. If you work or live in California, you qualify for membership. 

While Golden 1 Credit Union does offer a low APY for its accounts, you can get a higher APY if you maintain a balance of $10,000 or more. Many teens and students bank with Golden 1 Credit Union. 

11. East West Bank

The East West Bank charges a $3 monthly fee that the bank waives once you set up a direct deposit. You’ll also get a Visa debit card when you open a new account. 

Many students choose East West Bank because it offers an easy way to waive monthly fees. You’ll need at least $100 to open an account, but you can earn up to 0.01% APY if you do. 

12. Union Bank

This Californian bank offers some of the best perks from a smaller bank, including: 

• No minimum deposit
• A large ATM network
• Up to 0.05% APY
• Waivable monthly fees

If you open a Priority Account, you can waive monthly fees for up to two personal deposit accounts, one business account, and one IRA account.

13. Varo Bank

Varo Bank is one of many banks with early direct deposit, meaning you can get paid faster to ensure you make ends meet. It’s also a great bank to work with if you live in California. 

Choosing which account you want to open with Varo is easy since there’s only one option each for checking and savings accounts. Varo offers 3% APY on standard savings accounts and up to 5% if you keep a monthly balance of $5,000 and receive direct deposits of $1,000 or more. 

14. Ally Bank

If you want a bank that skips monthly fees, minimums, and in-person visits, Ally Bank is a top pick. It's online-only and gives you full control through one of the best mobile apps out there.

You can earn up to 3.85% APY on savings, deposit checks from your phone, and use Zelle to send or receive money. Ally also reimburses up to $10 per month for out-of-network ATM fees.

The only catch is you can't deposit cash or visit a branch. If that matters, a traditional bank like Bank of America may be a better fit.