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Some of the largest banks in the United States can be found in Tennessee. These include Chase, Wells Fargo, Bank of America, PNC Bank, and U.S. Bank.
However, Tennessee holds some of the best regional banks. These banks might not be as well-known as more popular financial institutions, but they can still cater to their communities with various financial products.
In this guide, we’ll show you some of Tennessee's best banks you can partner with. These banks offer several accounts and services you can use to your advantage.
We’ve even got a few online-only banks you can choose from. These banks may not have physical locations, but they can still offer superior customer service and convenient features.
Are you ready to learn more about the best banks in Tennessee? Let’s get started!
15 Best Banks in Tennessee
Did you know Tennessee is the only state with its own official rap song? The song is called A Tennessee Bicentennial Rap: 1796 to 1996.
1. Chase
Did you know that there are banks that don’t require Social Security numbers for your application? Instead, you can use other forms of identification to prove you are who you say you are.
Chase doesn’t require your SSN to open an account. There are tons of accounts to choose from, many of which cater to various age groups, and plenty of Chase offers for new accounts.
For example, the Chase High School Checking℠ account gives 13 to 17-year-olds the chance to open an account with their parent or guardian’s permission. There are no fees associated with this account or the College Checking account.
With Chase College Checking℠, you can waive the $6 monthly fee for 5 years if you can verify you’re in college. You can also avoid the fee if you have an average daily balance of $5,000 or set up a direct deposit.
A $100 bonus is yours if you open a Chase Secure Banking℠ account and complete 10 qualifying transactions within 60 days. Once you complete the requirements, you should receive your Chase Secure Banking bonus within 15 days.
A $100 bonus is yours if you open a Chase Secure Banking℠ account and complete 10 qualifying transactions (debit card purchases, online bill payments, etc) within 60 days. Once you complete the requirements, you should receive your Chase Secure Banking bonus within 15 days.
Chase also offers up to 0.01% APY on savings accounts. You can also check your balances via the mobile app.
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Earn $300 bonus
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Earn $300 bonus
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Earn $100 bonus
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Earn $100 bonus
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Earn $3,000 bonus
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MMG Rating:
5.0
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MMG Rating:
4.9
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MMG Rating:
4.5
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MMG Rating:
4.5
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MMG Rating:
4.9
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If you’re new to Chase and open a Chase Total Checking® account, you can earn up to a $300 welcome bonus. To complete the requirements for this consumer checking account, set up a direct deposit within 90 days. You’ll receive your bonus within 15 business days. |
If it’s a business bank account you’re looking for, look no further than the Chase Business Complete Checking® account that allows you to earn up to a $300 bonus with qualifying activities. |
A $100 bonus is yours if you open a Chase Secure Banking℠ account and complete 10 qualifying transactions within 60 days. Once you complete the requirements, you should receive your Chase Secure Banking bonus within 15 days. |
Open a Chase College Checking℠ account to earn a $100 bonus. To qualify for this promotion, you’ll need to make at least 10 transactions within the first 60 days between debit card transactions. You’ll receive your bonus within 15 business days. |
The Chase Private Client experience unlocks access to lower rates when financing a big purchase and connects you with a private banker and investment advisor whenever you like. Save time and money with better banking benefits and special services, plus a $3,000 welcome bonus. |
If you’re new to Chase and open a Chase Total Checking® account, you can earn up to a $300 welcome bonus. To complete the requirements for this consumer checking account, set up a direct deposit within 90 days. You’ll receive your bonus within 15 business days.
If it’s a business bank account you’re looking for, look no further than the Chase Business Complete Checking® account that allows you to earn up to a $300 bonus with qualifying activities.
A $100 bonus is yours if you open a Chase Secure Banking℠ account and complete 10 qualifying transactions within 60 days. Once you complete the requirements, you should receive your Chase Secure Banking bonus within 15 days.
Open a Chase College Checking℠ account to earn a $100 bonus. To qualify for this promotion, you’ll need to make at least 10 transactions within the first 60 days between debit card transactions. You’ll receive your bonus within 15 business days.
The Chase Private Client experience unlocks access to lower rates when financing a big purchase and connects you with a private banker and investment advisor whenever you like. Save time and money with better banking benefits and special services, plus a $3,000 welcome bonus.
2. Axos Bank
Axos Bank is available through the website and mobile app only. This online-only bank makes it easy to bank in this digital age with several security settings to keep your information safe.
You can find personal and business banking services from Axos Bank, including checking and savings accounts, loans, mortgages, money market accounts, investments, and CDs. Axos also offers 24/7 customer support if you run into trouble.
Its most popular account is the Axos Bank® Rewards Checking account. It is a free account with unlimited ATM fee reimbursements and offers up to a $300 new account bonus when you use an Axos promo code.
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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$300 new account bonus
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Best for teens
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$200 bonus
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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. |
This account offers you the chance to earn up to 1.00% cash back on all your signature-based purchases. Earn up to $2,000 in cash back each month, deposited directly into your checking account. All you need to get started is a minimum balance of $50.00 to open the account. |
Open a free account and get paid two days earlier with direct deposit. You don't have to worry about keeping a minimum balance. 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. |
Ready to teach your child money management? First Checking offers financial freedom with the security of a joint checking account. No fees, plus essential skills to last a lifetime. |
AXOS is an online bank that focuses on simple business banking online. It's free, and you get no monthly maintenance fees, a low minimum deposit requirement, and unlimited domestic ATM fee reimbursements. |
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.
This account offers you the chance to earn up to 1.00% cash back on all your signature-based purchases. Earn up to $2,000 in cash back each month, deposited directly into your checking account. All you need to get started is a minimum balance of $50.00 to open the account.
Open a free account and get paid two days earlier with direct deposit. You don't have to worry about keeping a minimum balance. 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.
Ready to teach your child money management? First Checking offers financial freedom with the security of a joint checking account. No fees, plus essential skills to last a lifetime.
AXOS is an online bank that focuses on simple business banking online. It's free, and you get no monthly maintenance fees, a low minimum deposit requirement, and unlimited domestic ATM fee reimbursements.
3. CIT Bank
Are you in the market for savings accounts? CIT Bank offers FDIC-insured accounts and many other traditional banking products, including savings accounts.
Many customers love CIT Bank’s mobile app. Here, you can manage your finances through your various checking, savings, and money market accounts.
CIT Bank also offers competitive CD rates. While the interest rates are higher than other banks on our list, they can’t necessarily compete with online-only banks.
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CIT Bank Savings Connect has an annual percentage yield of up to 4.65%, which is higher than the national average interest rate on savings accounts. This account does not charge a monthly Service Charge. |
Experience a convenient and secure all-digital way to grow and access your money. Earn a competitive interest rate. Easily pay people and bills, with no monthly fees. |
Interest that adds up in your family's best interest. Open an account today and start earning. Open an account with $100 to earn up to 1.00% APY. |
Online and mobile banking is easy and convenient with an eChecking account. CIT customers can access checking accounts 24 hours a day online or through the mobile app. Checking accounts can be opened with a $100 minimum opening deposit. |
CIT Bank CDs provide a safe, secure way to grow your savings. Choose from a selection of CD rates and terms to help you stay on target for your savings goals. |
CIT Bank Savings Connect has an annual percentage yield of up to 4.65%, which is higher than the national average interest rate on savings accounts. This account does not charge a monthly Service Charge.
Experience a convenient and secure all-digital way to grow and access your money. Earn a competitive interest rate. Easily pay people and bills, with no monthly fees.
Interest that adds up in your family's best interest. Open an account today and start earning. Open an account with $100 to earn up to 1.00% APY.
Online and mobile banking is easy and convenient with an eChecking account. CIT customers can access checking accounts 24 hours a day online or through the mobile app. Checking accounts can be opened with a $100 minimum opening deposit.
CIT Bank CDs provide a safe, secure way to grow your savings. Choose from a selection of CD rates and terms to help you stay on target for your savings goals.
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.
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Free checking account
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Experience hassle-free banking with a free 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. |
Open a First Citizens online savings account for easy access and mobility. Enjoy convenience with no minimum balance requirement and no monthly service charges. Earn interest on your daily balance and receive monthly credits with competitive rates. |
Experience hassle-free banking with a free 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.
Open a First Citizens online savings account for easy access and mobility. Enjoy convenience with no minimum balance requirement and no monthly service charges. Earn interest on your daily balance and receive monthly credits with competitive rates.
5. U.S. Bank
You’ll find nearly 70 U.S. Bank branches in Nashville and the south-central portion of the state. U.S. Bank works with you to offer support for personal banking, wealth management, and business banking needs.
U.S. Bank promotions often make it easy to open a new account and earn some rewards. You can also use Zelle to send and receive money from your friends and family.
You can open several accounts with U.S. Bank, including the following:
- Checking
- Savings
- Money market
- Retirement
- Lines of credit
- Auto and personal loans
- Credit cards
Open a Smartly Checking Account, and you can waive the $6.95 monthly fee if you make enough direct deposits or have the minimum amount in your account. You can also use your account to pay bills and make mobile check deposits.
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$800 Bonus
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MMG Rating:
4.5
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U.S. Bank has three business checking accounts, Gold and Platinum — including a free option with its Silver Business Checking. You can apply for an account online, over the phone or in person at a branch (U.S. Bank has branches in 26 states). |
U.S. Bank has three business checking accounts, Gold and Platinum — including a free option with its Silver Business Checking. You can apply for an account online, over the phone or in person at a branch (U.S. Bank has branches in 26 states).
6. 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.
Explore the benefits of Fifth Third Bank's Momentum Checking: no monthly fees, no minimum deposits or balance requirements. Get paychecks and tax refunds faster with Early Pay, and access quick cash advances with MyAdvance, without credit checks. You can also get a $200 bonus when you open an account and make direct deposits totaling $500 or more within 90 days of account opening.
7. 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.
8. 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.
9. 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.
10. Wells Fargo
Many people use Wells Fargo and Zelle to pay back their friends and family for a night out. However, if you’re looking to save up for a vacation, you might try one of Wells Fargo’s savings accounts.
These savings accounts may come with monthly fees. However, you can waive those if you meet specific criteria for each one.
Wells Fargo offers a handful of savings accounts, CDs, and checking and retirement accounts. You’ll earn up to 0.15% APY on CDs and 0.01% APY on savings accounts.
Manage your Wells Fargo account online or on your smartphone. Find the app in the Google Play Store or the App Store.
11. 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.
12. 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.
13. 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.
14. 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.
15. 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.
FAQs
You can have as many checking accounts as you want. While it can be challenging to keep track of so many checking accounts simultaneously, sometimes you can take advantage of quite a few welcome bonuses to add to your savings with multiple checking accounts.
Most banks require that you’re at least 18 years old to open a grown-up bank account. However, some banks offer teen accounts you can open as young as 13.
First Citizens Bank offers a free checking account. However, you must deposit at least $50 in the account once it’s open, though there’s no minimum balance after that.
Banking to a Fine Tune in Tennessee
Dolly Parton and Elvis Presley were born in Tennessee, but you don’t have to be a celebrity to bank there. Instead, you can use the many banks on our list of the best in Tennessee to achieve your financial goals.
We hope this article has helped you find more banks you can use to your advantage. While bank accounts can be scary and intimidating, it’s all about how you use them to get where you want to be.
You’ll find a good mix of banks in Tennessee, from national and digital banks to credit unions. Each offers accounts and perks to boost your finances to a new level.
Which of the best banks in Tennessee caught your eye?
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.
