Find out everything there is to know about the best banks in South Dakota, from welcome bonuses and special offers to daily account features you can depend on.
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Local branches are only half the picture. These five are available nationwide, so they compete with anything in your state and usually pay more to switch.
Did you know that the dollar sign was first used in 1785? Since then, it’s hard to go a day without seeing that same dollar sign multiple times.
Most people see this sign when they check their bank account balance, make a purchase, or pay a bill. With the best banks, you can do all that without breaking a sweat.
Our list of the best banks in South Dakota includes several major and community banks that offer superior financial products and services. These banks make it easy to manage your money and save for your future.
If you already have a personal bank account, consider using these local banks to open a business account. Many people started a side business during the pandemic and now’s a good time to get in on welcome bonuses and savings.
Are you ready to learn more about the best banks in South Dakota? Let’s get started!
12 Best Banks in South Dakota
Some of the best bank account bonuses don’t come from earning money when you open the account. Instead, they show up daily when you want to transfer funds, seek out a loan, or need to overdraft your account.
Chase has the largest physical banking presence of any major U.S. bank, including thousands of free Chase ATMs you can use whenever you cross into Minnesota, Iowa, Wyoming, or Nebraska. For South Dakotans who travel for work, see family across state lines, or just want a real bank you can rely on outside of Sioux Falls, Chase is the obvious pick.
Right now Chase is offering a $400 bonus when you open a new Total Checking® account and set up qualifying direct deposit ($1,000+ within 90 days). Most working South Dakotans qualify, the bonus lands within 15 days of qualifying, and the $15 monthly fee drops to $0 in any statement period you receive $500 or more in qualifying electronic deposits. So the account is effectively free for anyone with steady direct deposit.
You also get 14,000+ free ATMs, 5,000+ branches, Zelle built in, and a top-rated mobile app. You can link Chase savings, credit cards, or auto loans later, all under one login, which makes it easy to keep your finances simple.
If you want the biggest checking bonus available right now and a national bank that follows you wherever you go in or out of South Dakota, Chase is the move.
South Dakota winters are unforgiving. Heating bills spike from October through April, livestock emergencies don’t wait for payday, and one bad blizzard can cost you a transmission or a busted pipe. If you’re paycheck-to-paycheck like most South Dakotans, that gap between deposits is exactly when the costly stuff hits.
Current was built for that gap. Switch your direct deposit using code WELCOME75 and you get $75 free, just for doing what you were going to do anyway. After that, you can pull up to $1,000 of your next paycheck early, with no interest, no credit check, and no questions asked. For a renter in Sioux Falls, a rancher near Pierre, or anyone heating a house through a Black Hills winter, that buffer can be the difference between paying rent on time and getting hit with a $50 late fee.
There are no monthly fees, no minimum balance, no overdraft charges, and you get paid up to two days early. The whole account opens in two minutes from your phone, so it works whether you’re in Rapid City or 60 miles from the nearest branch. Current is a financial technology company, not a bank, and banking services come from Choice Financial Group and Cross River Bank, both Members FDIC.
If you don’t love it, you can close the account in 60 seconds with no fees and no calls. So there’s no real downside to trying it.
Bank of the West is a prominent financial institution operating in multiple states, including South Dakota. With a strong presence in the region, it boasts eight branches spread across eight cities in South Dakota alone.
In addition, the bank extends its services to 18 other states. Bank of the West provides some of the best checking accounts among its offerings.
The first is the Any Deposit Checking Account, known for its affordability. Bank of the West offers the Premier Checking account for those interested in interest-bearing accounts.
Bank of the West stays ahead of the curve with its mobile app, which also features account alerts, mobile deposits, and bill payments. Including a fingerprint login method further enhances security and simplifies the login process.
Dacotah Bank, headquartered in Aberdeen, is a state-chartered financial institution with a significant presence in South Dakota and North Dakota. While it has limited operations in Minnesota, Iowa, Nebraska, Wyoming, and Montana, the bank maintains its local roots and is run by community members.
Demonstrating a commitment to the community, Dacotah Bank actively supports charities and nonprofit organizations. The bank offers a diverse selection of five checking accounts.
Minimum balance requirements for these accounts range from $0 to $1,000. Customers enjoy the convenience of free mobile check deposits through the bank’s mobile app and online banking, which also includes bill pay services.
Three out of the five checking accounts are interest-bearing. Dacotah Bank provides four savings account options, all in the form of some of the best money market accounts.
These accounts include a Young Dacotah Money Market account tailored for young savers aged 18 and below. Minimum balance requirements for the savings accounts range from $100 to $50,000, accommodating a wide range of savers.
Dacotah Bank operates an impressive network of 15 locations within the state. However, the bank’s APYs are below average compared to other financial institutions.
This small-town South Dakota bank was founded in 1880 and is headquartered in Brookings. You can find 20 First Bank & Trust banks throughout South Dakota and six additional locations in Minnesota.
In addition to business and personal loans, First Bank & Trust offers four checking accounts, two of which don’t require a minimum balance or opening deposit. You can open an interest-bearing account, and there are also accounts geared toward specific age groups.
Choose from three savings accounts with First Bank & Trust. You can open accounts for your teen or younger children, depending on their age.
First Bank & Trust also offers mortgages, credit cards, HSAs, home loans, CDs, and estate planning. You can also obtain a Mobile Wallet and identity theft protection with this South Dakota bank.
First Dakota National Bank was established in Yankton in 1872. This bank was the first fully chartered bank in South Dakota before the state even formed.
This South Dakota bank offers a wide range of services for personal and business banking needs and trust and investment services. Boasting 16 locations, including four in Sioux Falls alone, First Dakota National Bank has a strong presence in the state.
This bank offers four distinct checking account options, two of which have no minimum requirements for opening or maintaining a daily balance. In addition, First Dakota National Bank provides three savings account choices.
One of those choices includes a money market account that earns interest on balances exceeding $10,000. First Dakota National Bank also offers two traditional savings accounts, one of which incurs a $3 monthly fee if the balance falls below $100.
Customers under the age of 18 enjoy fee-free checking and savings accounts. The bank competes with other banks by offering competitive APYs for higher account balances.
The First National Bank of Omaha (FNBO) was founded in Nebraska in 1857. This bank has been family-run for six generations, solidifying a strong connection to local South Dakota communities.
FNBO offers a selection of two checking accounts. One account stands out as it earns interest on deposited funds. The Access Debit account is noteworthy as it does not incur overdraft fees.
For those looking to save, the bank provides three savings account options. However, it’s worth noting that two of these accounts require a minimum balance of $1,000.
This bank offers limited customer service options. For customers interested in CDs, FNBO’s APY rates are relatively low compared to other financial institutions.
The First National Bank of Sioux Falls stands out with its above-average APY for balances up to $10,000. Customers can enjoy additional perks, like up to $20 in monthly ATM reimbursements.
To qualify for ATM reimbursement, account holders must:
Have at least one direct deposit, ACH credit, or ACH payment each month
Make 12 debit card purchases
Enroll in eStatements
You must be enrolled in online or mobile banking and regularly log in to your account. The bank offers a range of convenient services, including a debit card for easy transactions, online and mobile banking with bill pay features, and the option for mobile check deposits.
First National Bank of Sioux Falls operates 14 branches across six locations. It’s a solid bank to consider if you live in South Dakota.
First Premier Bank offers its customers a FREE+ Checking account. There are no monthly fees or minimum balance requirements, and you only need $50 to open the account.
For those maintaining a balance of $500 or more, there is the added benefit of earning interest. However, it’s essential to note that the APY on this account is relatively low.
Customers can enjoy the convenience of online and mobile banking, complete with bill pay and mobile check deposit functionalities. In addition, you can opt for eStatements and a debit card.
Great Western Bank operates 37 branches located in South Dakota. You’ll find an additional 135 offices spread across eight other states. However, in the first quarter of 2022, Great Western Bank merged with First Interstate Bancsystem.
Customers can enjoy the benefits of free online and mobile banking, complete with bill pay and mobile check deposit functionalities. Great Western Bank also provides debit cards with no monthly fees.
In addition, you get free online statements and Visa Secure Remote Commerce. Great Western Bank supports agricultural businesses with a comprehensive range of financial products, including loans and other tailored services.
Minnwest Bank, a family-owned institution, has a strong presence with over 30 locations. South Dakota hosts a total of six branches.
As a full-service bank, Minnwest Bank caters to personal and business banking needs. For businesses, the bank provides specialized services such as SBA loans, equipment leasing, business loans and lines of credit, and commercial insurance.
Customers can also find checking and savings accounts tailored to their needs, including business CDs, mortgages, and IRAs. Minnwest Bank offers four checking accounts, each requiring a $100 minimum deposit to open.
Two of these accounts bear interest. The accounts also feature competitive APYs compared to national and community banks if you maintain a $10,000 minimum balance.
For savings options, customers have three accounts to choose from. The basic savings account requires a $50 opening deposit and a minimum daily balance of $50 to avoid fees.
12. Wells Fargo
South Dakota residents can rely on Wells Fargo for secure and accessible banking services, with branches and ATMs in cities like Sioux Falls and Rapid City.
The Everyday Checking account offers a $325 bonus when you open an account with $25 and meet the $1,000 direct deposit requirement within 90 days. With robust digital tools and 24/7 fraud monitoring, Wells Fargo makes banking easy in South Dakota.
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South Dakota banking questions, answered
Which bank has the biggest sign-up bonus in South Dakota?
Chase Total Checking pays the biggest bonus on this list: $400 once your qualifying direct deposits total $1,000 or more within 90 days of opening. It is cumulative, so two or three normal paychecks clear it, and the cash lands within 15 days. You also get branch access across South Dakota, plus 5,000+ branches and 14,000+ ATMs nationwide.
Which bank can spot me money when I need it?
Current lets you draw up to $1,000 of your next paycheck early, with no interest and no credit check. New customers can also earn a $75 bonus with code WELCOME75 after $1,500 or more in eligible payroll deposits within 35 days. Current is a financial technology company, not a bank; banking services are provided by Choice Financial Group and Cross River Bank, both Members FDIC.
Which of the best banks in South Dakota offer free checking accounts?
Dacotah Bank, First Bank & Trust, First Dakota National Bank, First National Bank of Omaha, First Premier Bank, and First National Bank of Sioux Falls offer free checking accounts. Other banks on our list may offer free checking accounts if you meet specific requirements to waive the monthly fees. Our best checking accounts roundup compares more no-fee options.
What do you need to open a bank account in South Dakota?
You need a form of identification, proof of mailing address, your Social Security number, and an initial deposit to open a bank account in South Dakota. Many banks may waive the initial deposit requirements, so you can potentially open an account for free. Several accounts in our best checking accounts roundup ask for no opening deposit and take ten minutes online.
What is the largest bank in South Dakota?
Great Western Bank and Wells Fargo vie for the title of the largest bank in South Dakota. Both banks operate several branches in the state and work with thousands of customers daily. If you bank mostly from your phone, compare fees and bonuses instead. Our best bank account bonuses roundup tracks both.
What are some of the best credit unions in South Dakota?
Some of the best credit unions in South Dakota include Aberdeen Federal Credit Union, Sioux Falls Federal Credit Union, and Black Hills Federal Credit Union. Capital Credit Union and Dakotaland Federal Credit Union also offer superior financial services. All of them insure deposits through the NCUA to $250,000. Our credit unions vs. banks comparison covers which fits you better.
Superior Banking in the Mount Rushmore State
South Dakota’s Black Hills and agricultural heritage make it stand out from other states. The best banks in South Dakota also help it stand out differently.
We hope this article helps you find a local bank you can work with if you live in South Dakota. Our list includes a few national banks you can lean on if you want greater access to your account when you travel.
The best banks let you manage your money effortlessly so that you can spend more time in the beautiful South Dakota wilderness. Which of the best banks in this state will you choose?
$400 once your direct deposits total $1,000. You have 90 days from enrolling, and it is cumulative rather than one big deposit.
Paid within 15 days of hitting the requirement.
$15 monthly fee, waivable four ways. $500+ in qualifying electronic deposits, a $1,500 daily balance, $5,000 average across linked accounts, or linking a qualifying checking account. Zelle, cash, checks and wires do not count.
More than 5,000 branches and 14,000 ATMs.
Bonus paid within 15 days, and it is closed to existing Chase checking customers.
Pros & Cons
$400 for $1,000 of direct deposits, the best ratio here
Up to $450, and it is three separate bonuses. $25 for opening and depositing $50 or more within 25 days, $25 more for enrolling in SoFi Plus, and up to $400 on direct deposit.
The $400 tier is strict. Eligible direct deposits totalling $5,000 or more inside 25 calendar days. $1,000 to $4,999.99 pays $50, under $1,000 pays nothing.
No fees and no minimums, and savings earns 3.30% APY with eligible direct deposit activity.
Only real payroll counts. Check deposits, Zelle, PayPal, Venmo, Wise, wires and IRS tax refunds are excluded.
Paid within about 7 business days. The direct deposit bonus runs to December 31, 2026, and SoFi lists the two $25 bonuses as running October 1 to October 21, 2026.
Pros & Cons
Three bonuses stack to $450 if you qualify for all of them
3.30% APY on savings with eligible direct deposit
No monthly fee, no minimum, no overdraft fee
SoFi Bank, N.A. is itself a Member FDIC bank
Bonus pays within about 7 business days
The $400 tier needs $5,000 in eligible direct deposits
$1,000 to $4,999.99 pays only $50
Deposits are totalled over just 25 calendar days
P2P, wires, check deposits and tax refunds do not count
The $1,000 headline needs $200,000 deposited. The welcome bonus is tiered: $40 at $10,000, $100 at $25,000, $200 at $50,000, $425 at $100,000 and $900 at $200,000 or more, plus a Savings and CD Boost of $10 to $100 on top.
Code STACK has to be entered at sign-up, and it is new customers only.
The first deposit must be initiated by October 31, 2026. Balances then have to be maintained for 90 days, and the cash lands within 30 days of qualifying.
Raisin is not a bank. It is a marketplace over 100+ partner banks and credit unions. Your money sits at the partner institution through a custodial bank, so cover is pass-through FDIC or NCUA up to $250,000 per institution.
No platform fees and a $1 minimum to open a product. APY up to 4.40%, accurate as of September 28, 2026.
Pros & Cons
Access to 100+ partner banks and credit unions from one login
Up to 4.40% APY, well above a typical bank savings rate
No platform fees and a $1 minimum to open
Spreading across partners can reach $10M+ in FDIC or NCUA coverage
Move money between savings products as rates change
The $1,000 headline needs $200,000 deposited
First deposit must be initiated by October 31, 2026
Balances have to be maintained for 90 days
Code STACK must be entered at sign-up, new customers only
$1,500 in eligible payroll deposits within 35 days. This is the requirement people miss. It is cumulative, not a single deposit.
$75 with code WELCOME75. New customers only, and the code has to be entered at signup.
Paid within about 10 business days of your deposits reaching $1,500.
Transfers do not count. Venmo, Cash App, Zelle, PayPal, mobile check deposits, cash and one-off deposits like a tax refund are all excluded.
No credit check to open, and up to $1,000 before payday. Instant access carries a fee, or wait up to 3 days for free.
Current is a fintech, not a bank. Banking services come from Choice Financial Group and Cross River Bank, both FDIC members, so cover is pass-through up to $250,000.
Pros & Cons
No credit check to open
$0 monthly fee
Up to $1,000 of your paycheck before payday
No credit check on Paycheck Advance, and repayments are not reported
Realistic approval after a past bank closure
Needs $1,500 in eligible payroll deposits within 35 days
Smallest bonus here at $75
Venmo, Cash App, Zelle and PayPal do not count
Current is a fintech, not a bank, so FDIC cover is pass-through
Instant advances carry a fee unless you wait 3 days
3.75% APY on balances of $5,000 or more, and 0.25% below that. It is tiered, so your end-of-day balance sets the rate and it is paid on the whole balance.
$100 minimum to open, and no account opening or monthly service fees.
CIT Bank is a division of First Citizens Bank, FDIC insured to $250,000 per depositor per ownership category. Deposits across First Citizens divisions are combined for that limit.
Opening takes about five minutes online.
APYs accurate as of July 1, 2026 and variable, so confirm before funding.
Every figure above comes from each provider’s own page. For the full breakdown of the checking bonuses, including what counts as a qualifying direct deposit at each bank, see our guide to the best checking accounts.
CIT Platinum Savings APYs are accurate as of July 1, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Platinum Savings is a tiered interest rate account. Rates are variable and may change at any time without notice. $100 minimum to open. CIT Bank is a division of First Citizens Bank, Member FDIC.
Raisin bonus: new customers only, code STACK required at sign-up. Welcome Bonus is $40 at $10,000 through $900 at $200,000 or more, plus a Savings and CD Boost of $10 to $100. First deposit must be initiated by October 31, 2026 and balances maintained 90 days. Raisin is not a bank; deposits are held at FDIC-insured banks and NCUA-insured credit unions through a custodial bank. APY accurate as of September 28, 2026. Raisin charges no platform fees.
Before you go
Two accounts that pay you to switch
Both are open to residents of every state. The only real difference is how much you have to move to earn it.
Brian Meiggs founded My Millennial Guide and has spent over a decade writing about money. He tries every app and product before it goes on the site. No fluff, no guesswork. Named to the Northern Virginia 40 Under 40 earlier this year, and featured in WSJ, Business Insider, and Entrepreneur. Off the clock: chess, the gym, a quiet night in.
