14 Best Banks in Missouri for 2023

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Find out which of Missouri's best banks makes it easier to manage your money in the Show-Me State better. Will your favorite Missouri bank show up on our list?

Did you know that nearly 40% of Americans have less than a month’s worth of income in emergency savings? It can be scary not to have that financial security, but sometimes the first step is finding the right bank account. 

In this article, we’ll introduce you to some of the best banks in Missouri. These banks offer several perks, from many accounts to choose from to ways to avoid the monthly fees that can drain your account quickly. 

As you read the list below, write down which banks catch your eye. These banks may even offer you a welcome bonus when you create an account. 

Are you ready to learn more about the best banks in Missouri? Let’s get started!

Best Banks in Missouri

Based on our research, these are the best banks in Missouri of 2023.

Best Checking Accounts in Missouri

When searching for the best checking account in Missouri, you want to make sure you're getting the most out of it. That means keeping an eye out for low fees, great customer support, and easy access to free ATMs nearby.

And if you happen to find an account that also earns you some interest on your money, well, that's even better! So, keep these factors in mind as you explore your options and find the checking account that suits you best in Missouri.

Here are the details on our favorite checking accounts this month.

Best for liability protection
Best for cashback rewards
Best for APY
Best for mobile banking
Best for building credit
MMG Rating:
5.0
MMG Rating:
5.0
MMG Rating:
4.5
MMG Rating:
3.9
MMG Rating:
4.5
Monthly fee: $12
Monthly fee: $0
Monthly fee: $0
Monthly fee: $0
Monthly fee: $0
  • Bonus: $300
  • APY: N/A
  • Bonus: $300
  • APY: 3.30%
  • Bonus: $250
  • APY: 4.60%
  • Bonus: N/A
  • APY: 0.10%
  • Bonus: N/A
  • APY: N/A
Best for liability protection
MMG Rating:
5.0
Monthly fee: $12
  • Bonus: $300
  • APY: N/A
Best for cashback rewards
MMG Rating:
5.0
Monthly fee: $0
  • Bonus: $300
  • APY: 3.30%
Best for APY
MMG Rating:
4.5
Monthly fee: $0
  • Bonus: $250
  • APY: 4.60%
Best for mobile banking
MMG Rating:
3.9
Monthly fee: $0
  • Bonus: N/A
  • APY: 0.10%
Best for building credit
MMG Rating:
4.5
Monthly fee: $0
  • Bonus: N/A
  • APY: N/A

Best Savings Accounts in Missouri

The best savings accounts in Missouri have high annual percentage yields (APYs), allowing your money to grow more over time. Look for accounts with competitive APYs to make the most of your savings.

Here are the details on our favorite savings accounts this month.

Best for large balances
No monthly fees
Offers welcome bonus
Ease of use
No balance req.
APY: 5.05%
APY: 4.65%
APY: 4.60%
APY: 4.50%
APY: 4.40%
Minimum to Earn APY: $5,000
Minimum to Earn APY: $100
Minimum to Earn APY: $1
Minimum to Earn APY: $100
Minimum to Earn APY: $0
Bonus: N/A
Bonus: N/A
Bonus: $300
Bonus: N/A
Bonus: N/A
Best for large balances
APY: 5.05%
Minimum to Earn APY: $5,000
Bonus: N/A
No monthly fees
APY: 4.65%
Minimum to Earn APY: $100
Bonus: N/A
Offers welcome bonus
APY: 4.60%
Minimum to Earn APY: $1
Bonus: $300
Ease of use
APY: 4.50%
Minimum to Earn APY: $100
Bonus: N/A
No balance req.
APY: 4.40%
Minimum to Earn APY: $0
Bonus: N/A

Best Bank Promotions in Missouri

Bank account bonuses and promotions often offer attractive cash bonuses when you establish a new checking or savings account. If you're looking for the best bank bonuses in Missouri, it's important to note that these bonuses are typically awarded as one-time perks.

To be eligible for such rewards, you will typically need to arrange for direct deposit with the bank and maintain the account for a minimum duration, often a few months.

Here are the details on our favorite bank account bonuses this month.

Intro bonus: $300
Intro bonus: $50-300
Intro Bonus: $300
(Nationwide)
(Nationwide)
(Nationwide)
(Nationwide)
  • Bonus Offer: $300
  • Minimum Deposit: $500
  • Direct Deposit: Yes
  • Expiration Date: 7/24/24
  • Bonus Offer: $50-$300
  • Minimum Deposit: $1,000-$5,000
  • Direct Deposit: Yes
  • Expiration Date: 6/30/24
  • Bank Bonus: $300
  • Minimum Deposit: $2,000
  • Direct Deposit: No
  • Expiration Date: 7/22/24
  • Bonus Offer: Up to $300
  • Minimum Deposit: $7,000
  • Direct Deposit: Yes
  • Expiration Date: 6/30/24
Intro bonus: $300
(Nationwide)
  • Bonus Offer: $300
  • Minimum Deposit: $500
  • Direct Deposit: Yes
  • Expiration Date: 7/24/24
Intro bonus: $50-300
(Nationwide)
  • Bonus Offer: $50-$300
  • Minimum Deposit: $1,000-$5,000
  • Direct Deposit: Yes
  • Expiration Date: 6/30/24
Intro Bonus: $300
(Nationwide)
  • Bank Bonus: $300
  • Minimum Deposit: $2,000
  • Direct Deposit: No
  • Expiration Date: 7/22/24
Intro Bonus: $300
(Nationwide)
  • Bonus Offer: Up to $300
  • Minimum Deposit: $7,000
  • Direct Deposit: Yes
  • Expiration Date: 6/30/24

The best banks in Missouri offer some of the best bank account bonuses for residents. Keep reading to learn more about which bank accounts you can open and get rewarded for. 

1. Arsenal Credit Union 

Arsenal Credit Union offers a diverse range of banking options, including four distinct checking accounts: 

  • Totally Free Checking
  • Value Checking
  • Advantage Plus Checking
  • Business Checking

One of the standout offerings is the Totally Free Checking account, which stands out due to its lack of fees or minimum balance requirements. This account provides members with a fee-free and hassle-free banking experience.

Arsenal Credit Union has branch locations in Arnold and St. Louis, ensuring convenient access to its services. To become a member, individuals must live or work in Jefferson County, St. Louis County, or St. Louis City. 

Eligibility also extends to those employed with select companies or individuals with family members who have already joined the credit union. Arsenal Credit Union also offers various credit union promotions, including special incentives, benefits, or rewards that members can enjoy, further enhancing the banking experience.

2. Bank of Missouri

Bank of Missouri offers three checking accounts, one earning an impressive APY that competes with the best digital banks. Of the two remaining checking accounts, one earns you cashback for debit card purchases, while the other offers monthly refunds on iTunes, Amazon, or Google Play purchases. 

None of these checking accounts have monthly fees. You can get up to $25 back in ATM refunds and take advantage of competitive CD rates with Bank of Missouri.  

3. Belgrade State Bank 

Belgrade State Bank is a local financial institution that offers a range of banking services, including checking and savings accounts, business banking options, and personal loans. While it has limited ATMs and branches compared to larger banks, it strives to provide convenient and accessible services to its customers.

One of the notable features of Belgrade State Bank is its out-of-network ATM fee policy. Customers are only charged $1 when using an ATM outside the bank's network.

The bank offers a fee-free checking account for businesses that includes 1,000 items per month. After reaching this limit, 25 cents per item is charged. 

Additionally, the bank does not impose any minimum balance requirements, providing flexibility for businesses of all sizes. Belgrade State Bank also caters to individuals by offering competitive rates on personal loans. 

The bank has a low minimum opening deposit requirement of $50, making it accessible to many customers. Customers who prefer a simple and cost-effective banking experience can benefit from Belgrade State Bank's free checking account option, provided they enroll in eStatements. 

4. Central Bank of Kansas City

The Central Bank of Kansas City operates with two locations in the Kansas City area. It offers three checking account options: eBanking, Blue Basic, and Premier Checking.

A minimum balance of $1,000 is required to waive the monthly fee. However, the Premier Checking account also necessitates a $1,000 minimum balance. 

On the other hand, the eBanking and Blue Basic accounts only require a minimum deposit of $100, making them more accessible to customers with lower initial funds. Monthly fees for these accounts range from $7 to $10, depending on the specific account and whether the account balance falls below $1,000. 

In addition to the branch locations, the Central Bank of Kansas City emphasizes the importance of digital banking services. Through its eBanking option, customers can access their accounts online, offering convenient and efficient management of their finances. 

5. Central Bank of the Ozarks

Central Bank of the Ozarks is a community bank that prides itself on delivering personalized service to its customers. With a focus on both personal and business banking, the bank provides a comprehensive range of financial services tailored to individuals and small businesses alike.

Central Bank of the Ozarks offers specialized bank accounts, loans, and credit cards for small businesses. One standout feature is the MaxMoney® Checking account. 

This account not only provides basic checking account features but also offers additional benefits. These include access to credit scores, gift cards, credit monitoring services, shopping rewards, insurance options, and gas savings. 

While this account has an $8.95 monthly fee, the added perks can prove valuable to customers who take advantage of the various benefits. In terms of savings, Central Bank of the Ozarks provides a classic savings account that earns a decent APY. 

To enhance convenience, the bank offers mobile and online banking services. Central Bank of the Ozarks also provides CDs as an investment option.

6. Commerce Bank

Commerce Bank is a community-oriented financial institution with a strong presence throughout the Kansas City area and branches in 10 other states. The bank offers comprehensive services, including checking and savings accounts, loans, and CDs.

With the CONNECT app, Commerce Bank provides a convenient chat feature that allows customers to communicate with bank representatives. This user-friendly app is among the best banking apps available.

The bank's free account option includes mobile banking. However, it is important to note that the interest rates offered on savings accounts and CDs by Commerce Bank are relatively low.

For customers seeking a fee-free checking account, Commerce Bank offers the Commerce Free Checking option. This account requires a minimum deposit of $25 to open and does not charge a monthly fee. 

In addition, the bank provides Popmoney person-to-person (P2P) transfers, allowing convenient and secure money transfers between individuals.

7. First Midwest Bank 

First Midwest Bank, originally founded in Poplar Bluff, has expanded its presence. You can find First Midwest Bank branches and ATMs in:

  • Poplar Bluff
  • Columbia
  • Greenville
  • Piedmont
  • Puxico
  • Van Buren
  • Williamsville 

This bank offers a unique perk of earning 10 cents cashback for each debit card swipe. Recently, First Midwest Bank merged with Old National Bank. 

First Midwest Bank provides a wide variety of account options to suit the diverse needs of its customers. With most bank accounts, customers can enjoy having no monthly fees, contributing to a cost-effective banking relationship. 

Whether individuals are looking for basic checking or savings accounts or more specialized banking products, the bank offers a range of choices to meet their preferences. The bank requires a minimum deposit of $50 to open an account. 

8. First State Community Bank 

First State Community Bank boasts an extensive network of 50 branches throughout Missouri. The bank offers free access to the MoneyPass ATM network but requires opening deposits for most of its checking accounts.

This bank's basic account option is the Free eChecking account, providing customers with a straightforward, no-cost banking solution. By signing up for electronic statements, customers can avoid monthly fees.

First State Community Bank also offers a unique feature to boost savings: round-up debit transactions. With this feature, customers can automatically round up their debit card transactions to the nearest dollar and transfer money to their savings account. 

9. Great Southern Bank 

Great Southern Bank, headquartered in Springfield, operates branches across several states, including:

  • Missouri
  • Arkansas
  • Iowa
  • Kansas
  • Minnesota
  • Nebraska

The bank offers various checking account options to cater to different needs. Among these options is a free basic checking account that provides customers with a simple, cost-effective banking solution. 

In addition, three checking accounts have a minimum opening deposit requirement of just $25. Great Southern Bank also offers a second-chance checking account which requires a $25 minimum opening deposit.

Great Southern Bank is part of the Allpoint ATM network. In addition to its checking account options, Great Southern Bank offers competitive rates on personal loans. 

10. Mid-Missouri Bank

Mid-Missouri Bank is renowned as an excellent choice for consumers and small business owners, offering various banking services. With 14 branches throughout the state, the bank provides convenient access to its services for customers across the region.

When it comes to checking accounts, Mid-Missouri Bank stands out for offering some of the best checking accounts in the market. They provide two options, each tailored to different needs. 

One account offers a decent APY, allowing customers to earn interest on their balances. The other account provides cashback on purchases, providing a unique and rewarding banking experience. 

Mid-Missouri Bank also offers competitive rates on personal loans and home equity lines of credit (HELOCs). While their personal loan rates and HELOC rates are competitive, it's worth noting that Mid-Missouri Bank's rates for savings accounts are below average. 

11. Missouri Credit Union 

Missouri Credit Union offers a second-chance checking account called Smart Start Checking. This account requires a $25 deposit but does not have any monthly fees or minimum balance requirements.

While mobile banking is available, this service has a nominal monthly charge of $1. Similarly, a $1 monthly fee applies to using a debit card associated with the account. 

Becoming a member of Missouri Credit Union is open to individuals who live or work in the following counties:

  • Audrain
  • Boone
  • Callaway
  • Cole 
  • Cooper
  • Howard
  • Miller
  • Moniteau 
  • Osage
  • Randolph

Missouri Credit Union also extends membership to those who have a family member already enrolled as a member. Eligibility also extends to employees of the State of Missouri or individuals employed by specific cities such as: 

  • Branson
  • Camdenton
  • Canton
  • Kirksville
  • Marceline
  • Nevada
  • Osage Beach City

Missouri Credit Union has branch locations in Jefferson City and Columbia.

12. Simmons Bank 

Simmons Bank maintains a widespread branch network across the state, ensuring convenient customer access to its services. The bank offers a variety of financial products, including checking and savings accounts, catering to different banking needs.

To enhance accessibility, Simmons Bank provides fee-free cash withdrawals from MoneyPass ATMs. One notable offering from Simmons Bank is its fee-free checking account. 

This account does not impose any minimum balance requirements or require an opening deposit, making it an accessible and hassle-free option for customers. Simmons Bank also strives to provide competitive rates on CDs.

13. UMB Bank 

Compared to the best national banks, UMB Bank is one of Missouri's longest-running financial institutions with a history of over 100 years. While its roots are deep in Missouri, UMB Bank has expanded its footprint with branches in Colorado, Illinois, Kansas, Oklahoma, Nebraska, Arizona, and Texas.

UMB Bank offers a fee-free checking account, providing customers with a cost-effective banking solution. However, it's worth noting that a minimum deposit is required for all checking accounts, ensuring that customers have a stake in their banking relationship.

UMB Bank offers competitive rates on CDs for those looking to save and invest. While UMB Bank excels in many areas, it's important to mention that their savings accounts may offer a lower APY. 

14. United Credit Union

United Credit Union offers a second chance checking account called Restore Checking, specifically designed to allow individuals to rebuild their banking history. This account comes with a $10 monthly fee, but it also includes free online banking, a debit card, and bill pay services, ensuring convenient access to essential banking features.

Account holders must maintain a positive balance in their Restore Checking account for at least six consecutive months. Once this condition is met, they become eligible for transfer to a standard checking account.

You can join United Credit Union if you live or work in the following counties: 

  • Adair
  • Audrain
  • Boone
  • Callaway
  • Chariton
  • Howard
  • Lincoln
  • Linn
  • Macon
  • Marion
  • Monroe
  • Montgomery
  • Pike
  • Ralls
  • Randolph
  • Shelby

United Credit Union has branch locations in Mexico, Vandalia, Moberly, Troy, Columbia, and Fulton.

FAQ

What is the most popular bank in Missouri?

Missouri's most popular banks include Commerce Bank and Central Bank of the Ozarks. While these banks have a strong presence, others on our list can offer superior financial services if you live in Missouri. 

How can you choose the best bank account if you live in Missouri?

Choosing the best bank account in Missouri depends on what you want or need from a checking account. For some people, avoiding monthly fees can help them save more, but for others, the possibility of earning interest on their checking account balance can be worth a small fee. 

Which of the best banks in Missouri offer free checking accounts? 

UMB Bank, Simmons Bank, and Commerce Bank offer free checking accounts. You can find other free accounts on our list of the best banks, though some may require that you meet specific criteria to waive the monthly fees. 

What do you need to open a bank account in Missouri?

To open a bank account in Missouri, you need an ID, a Social Security number, proof of address, and a minimum deposit. The majority of the best banks on our list don’t require a minimum deposit. 

Leave the Banking Misery Behind in Missouri 

Finding the right bank account can help you get your finances back on track. With the best banks in Missouri, it’s easy to find the accounts and services you need to achieve your financial goals, big or small. 

We hope this article helps you find the best bank in Missouri for your needs. Though that particular bank will vary from person to person, the good news is that you have quite a few banks to choose from. 

Which of the best banks in Missouri will you open an account with? 

Earn $300 bonus
Axos Bank® Rewards Checking
5.0

A free account with unlimited ATM fee reimbursements. You don't have to worry about keeping a minimum balance with Axos' Rewards Checking. As with the bank's other checking accounts, there are no monthly fees, and all fees charged by domestic ATM operators are reimbursed. Axos doesn't charge any ATM fees itself.

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About the author

Brian Meiggs
Hi, I'm Brian Meiggs! A personal finance expert, entrepreneur, and the founder of My Millennial Guide. My drive is to help others unlock the wealth of freedom and pave the path to financial success. With my bachelor's degree in finance, I help millennials follow the smart money in order to increase their earning potential and start building wealth for the future. I write regularly about side hustles, investing, and general personal finance topics aimed to help anyone earn more, pay off debt, and reach financial freedom. I have been quoted in major publications including Business Insider, Yahoo Finance, NASDAQ, Discover, GoDaddy, BiggerPockets, Fox News, Debt.com, Quick Sprout, Money Geek, MSN Money and many more!