14 Best Banks in Tennessee

1. Chase

Chase has a real footprint in Tennessee, with branches across Nashville, Memphis, Knoxville, and Chattanooga, plus thousands of free Chase ATMs you can use whenever you cross into Kentucky, Georgia, North Carolina, or Alabama. For Tennesseans who travel for work, see family across state lines, or just want a bank you can walk into, 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 Tennesseans 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 Tennessee, Chase is the move.

2. Current

Tennessee summers are punishing on a budget. Electric bills spike from June through September, gig workers and hospitality staff in Nashville and Memphis don’t always get a paycheck on the same day each week, and one busted A/C unit can wipe out a paycheck before it even hits. If you’re paycheck-to-paycheck like most Tennesseans, that gap between deposits is exactly when the costly stuff happens.

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 $750 of your next paycheck early, with no interest, no credit check, and no questions asked. For a server in Nashville, a touring musician, or anyone heating and cooling a Knoxville house through Tennessee weather, that buffer is 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, no branch required. Current is a financial technology company, not a bank; 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.

3. SoFi

SoFi is one of those banks that actually makes things easy. When you open a SoFi Checking and Savings account and set up direct deposit, they’ll give you up to a $450 bonus just for doing what you already do.

I like that there are no account fees, you can get your paycheck up to two days early, and the app is clean and simple to use. You can see everything in one place, from your checking and savings to investing.

It’s FDIC-insured and feels more modern than a traditional bank. If you want a bank that rewards you for being smart with your money, SoFi is worth checking out.

4. First Citizens Bank

Founded in 1898, First Citizens Bank serves its customers in nearly 20 states. It’s known for superb customer service and a multitude of available accounts.

First Citizens Bank offers three checking accounts, two savings accounts, money market accounts, CDs, and credit cards. You can open a free checking account with a minimum of $50. 

With this free account, you can also waive monthly fees if you enroll in paperless billing. The Premier checking account also offers preferred rates on home equity lines of credit and CDs. 

First Citizens Bank provides small business loans and commercial loans. You can easily manage your money through the mobile app, as the bank holds fewer than 10 physical branches. 

While savings account APYs might be low at First Citizens Bank, they’re better than nothing. You can also use First Citizens Bank to manage your business finances, obtain a home or auto loan, and purchase car insurance. 

5. Fifth Third Bank

Fifth Third Bank (5/3 Bank) is one of the largest consumer banks in the Midwestern United States. It’s headquartered in Cincinnati, Ohio, with nearly 1,100 branches and customers in 12 states, including Tennessee.

You can open any of the following checking accounts at any Fifth Third Bank in Tennessee:

• Momentum Checking: Besides no monthly maintenance fees and minimum balance requirements, this account comes with early direct deposit. 
• Express Checking: Similar to the Momentum Checking account, you won’t pay a monthly fee or have to meet a minimum balance requirement. Instead, you can cash your checks and set up a direct deposit with this account. 
• Preferred Checking: You must open this account at a physical branch in person. You must deposit at least $100,000 or more to the account once you’ve opened it. 

The Momentum Savings account offers 0.01% APY and a $5 monthly fee. However, you can waive the monthly fee if you meet specific criteria. 

Fifth Third Bank is based out of Ohio. You can also open a money market account or 529 savings account at this Tennessee bank. 

6. Bank of Tennessee

If you’re looking for the best checking accounts in Tennessee, the Bank of Tennessee seems like a logical place to start. This mid-size bank was established in 1974 and calls Kingsport home. 

You’ll find over 20 branches in North Carolina and Tennessee. This bank offers various products, from IRAs and MMAs to CDs and brokerage accounts. 

Some accounts come with various APYs. The Bank of Tennessee also has an extensive ATM network to complement its brick-and-mortar locations. 

7. Ally Bank

Due to Ally Bank’s online-only presence, customers cannot deposit cash directly into their accounts. However, Ally Bank offers several perks many customers love, especially in this modern day and age. 

Ally Bank offers several checking and savings accounts. The savings accounts come with “buckets” to save up for whatever you want. 

You can earn up to 4% APY on Ally Bank’s savings accounts. This interest compounds daily, and your funds are FDIC-insured. 

Open an Interest Checking Account, and you can earn 0.25% APY if you have over $15,000 in your account. Otherwise, you still earn 0.1% APY on your balance. 

Ally Bank doesn’t charge monthly fees or have minimum opening deposits. You can reach customer support through live chat or over the phone if you need assistance. 

Ally also partners with Zelle to allow its customers to send and receive money. If you have to use an ATM outside of Ally’s network, you can get reimbursed up to $10 per statement cycle. 

Ally Bank also offers money market accounts, CDs, and IRAs.  

8. Truist Bank

Headquartered in Charlotte, Truist Bank was formed in 2019 when SunTrust Bank and BB&T merged. This bank offers several types of accounts you can use to help achieve your goals. 

In addition to checking and savings accounts, Truist Bank offers some of the best money market accounts. You can use these accounts to increase your earnings and save. 

Truist’s Negative Balance Buffer covers you up to $100 if you overdraft by this amount or less. You can also use the Truist One Checking account for free if you have a $550 direct deposit each statement period. 

Truist One comes with no interest and requires a $50 deposit. However, there are no overdraft fees associated with this account. 

You can also open a Truist savings account with only $50. The $5 monthly fee can be waived if you have a $300 daily balance or link a Truist checking account. 

9. Wells Fargo

Tennesseans can trust Wells Fargo for its excellent banking services and $325 new customer bonus.

With branches and ATMs in Nashville, Memphis, and Knoxville, Wells Fargo ensures access to your money statewide. Open an Everyday Checking account with $25 and receive $1,000 in qualifying direct deposits within 90 days to earn the bonus.

Start your journey today and discover why Wells Fargo is one of the top banks in Tennessee.

10. FSNB

Fort Sill National Bank (the former name of this bank) hosts over 30 branches across the state. It also offers checking and savings accounts that you can open online. 

Some of FSNB’s accounts come with a monthly maintenance fee, which you may or may not be able to waive. Others may offer free direct deposits or varying interest rates. 

FSNB offers dedicated accounts for military members and veterans. This full-service bank serves Tennessee to give back to its citizens.  

11. First Horizon

Formerly known as the First Tennessee Bank, First Horizon is headquartered in Memphis. You’ll find over 180 branches around the state that offer personal and business banking. 

First Horizon has multiple accounts to choose from, including checking and savings accounts. You can also obtain debit and credit cards from this bank. 

12. Regions Bank

You may find several Regions Bank branches in Texas, but they’re also found in Tennessee. This bank merged in 2004 with Union Painter Bank, so it has definitely grown since. 

You can open everything from checking and savings accounts to lines of credit and mortgages with Regions Bank. Physical branches help, but you can also go online to manage your finances. 

Regions Bank updates its members through texts and mobile app notifications. You can also have Regions Bank manage your wealth and investments, too.

13. Wilson Bank & Trust

Though you may not have heard of it, Wilson Bank & Trust offers nearly 30 locations in the middle of Tennessee. It offers the standard list of traditional financial products, including checking and savings accounts, debit cards, IRAs, and CDs. 

You can access your Wilson Bank & Trust account online or through the mobile app. Wilson Bank & Trust will also manage your investments and wealth if you’d like. 

14. Bank of America

Bank of America’s Advantage Plus Banking and similar accounts can help you manage your money and get rewarded for it. You can earn up to $100 if you open a new Advantage account and deposit $1,000 or more. 

As one of the largest banks in the U.S., Bank of America offers several promotions like this throughout the year. It also provides its Keep the Change program which allows you to contribute to your savings account by rounding up your purchases. 

Tennessee hosts several hundred Bank of America ATMs and physical branches. It also offers a top mobile banking experience to help you manage your finances from home. 

Bank of America falls short when it comes to its savings account APYs. At 0.01% APY, it’s nothing to write home about, especially in the face of higher APYs from online-only banks.