The top 5 safest banks in the U.S.

Trust matters when it comes to where you keep your money. Not all financial institutions offer the same level of financial strength, security protections, or long-term stability.

To help consumers identify the safest places to bank, we developed a comprehensive ranking system that evaluates banks across a range of key factors, including asset size, insurance coverage, credit ratings, security measures, and more, to identify the safest banks in the U.S. (see our full methodology here).

Safest banks in the U.S.

While no bank is entirely risk-free, some are better positioned than others to weather economic downturns and protect customer data. Here’s a closer look at the banks that scored highest in our analysis and the factors that helped them earn a spot on our list of the safest banks in the U.S.

1. Chase Bank

Chase Bank is the largest national bank in the U.S. by asset size. It operates more than 5,000 branches and 15,000 ATMs nationwide and offers a wide range of products, including deposit accounts, credit cards, home and auto loans, and business and commercial banking products.

Chase took the top spot on our list with a Texas ratio of 3.55% and a near-perfect Moody’s rating of Aa1.

Chase also consistently ranks the highest among global systemically important banks (G-SIB) on the Financial Stability Board’s (FSB) annual list, which considers capital buffers, total-loss absorbing capacity, resolvability, and higher supervisory expectations.

However, it’s important to note that even the largest and safest banks aren’t immune to data breaches. In 2014, the bank experienced a cyberattack that compromised the accounts of 76 million households and 7 million small businesses.

Since then, the bank significantly increased its cybersecurity budget; it currently offers several safety and security features for consumers, such as fraud alerts, credit monitoring, and multi-factor authentication.

Read more: 6 important security features to look for in a bank

2. Bank of America

Bank of America is the second-largest bank in the U.S. by asset size. It offers a range of products for personal and business customers, including deposit accounts, credit cards, lines of credit, and wealth management services. The bank also operates more than 3,500 financial centers and has a network of approximately 15,000 ATMs.

Bank of America ranks just under Chase on the FSB’s list of global systemically important banks. It also scored an Aa2 credit rating and boasts a Texas ratio of 3.17%.

That said, this bank was penalized in the ranking for experiencing data breaches as recent as 2024, when an unauthorized party gained access to their systems, compromising BofA customers’ names, addresses, passport numbers, phone numbers, Social Security numbers, and loan numbers.

3. Citibank

Citibank operates 660 branches and 2,300 branded ATMs within the U.S. Customers also have access to a network of more than 60,000 surcharge-free ATMs across the country. Citibank offers a number of deposit accounts, retirement accounts, mortgage and personal loans, business bank accounts, and more.

Citibank ranked third on our list with a rating of Aa3, which is considered stable, and a Texas ratio of 2.79%, which is considered excellent and significantly lower than our top two banks. It also ranks just under our top pick as one of the most systemically important banks.

Citibank offers fraud protection features such as multi-factor authentication and fraud alerts. Even so, like other banks on this list, Citi is no stranger to data breaches and has landed in hot water with regulators in the past for its handling of data management issues.

4. Wells Fargo

Wells Fargo offers banking products and services for personal, small business, commercial, and corporate clients. This includes checking and savings accounts, CDs, home and auto loans, lines of credit, commercial financing, investing, and wealth management services. The bank operates more than 4,000 branches in the U.S. and has a network of more than 11,000 ATMs.

Wells Fargo ranked fourth on our list with $1.82 trillion in consolidated assets and $1.81 trillion in domestic assets. It has a long-term deposits rating of Aa2 and a Texas ratio of 5.16%, which is excellent, but still the highest on our list. This bank is also considered a global systemically important bank, but it currently sits at the very bottom of that list.

5. U.S. Bank

U.S. Bank was founded in 1863 and is the fifth-largest bank in the U.S. by asset size. It has a large national presence with over 2,000 branches across the country, one foreign branch, and an expansive ATM network via the Moneypass ATM network.

This bank offers a wide array of personal and business products and services, including checking and savings accounts, credit cards, personal loans and lines of credit, home loans, and auto loans.

This bank took the final spot on our list with just over $676 billion in consolidated assets and nearly $670 billion in domestic assets. Unlike the other banks on this list, U.S. Bank is not considered a global systemically important bank, but it does have a long-term deposits rating of Aa3, according to Moody’s, and a Texas ratio of 3.1%.

It’s important to note that in recent years, U.S. Bank has experienced data security incidents, including a 2022 breach that impacted 11,000 customers.

Safest banks methodology

Our grading system, collected and carefully reviewed by our personal finance experts, comprised hundreds of data points to develop our list of the safest banks in the U.S.

We evaluated these banks according to several key metrics — here’s a closer look at the categories we considered:

FDIC insurance: We awarded points to banks that are insured by the FDIC up to the $250,000 limit.
Moody’s credit rating: Banks with higher long-term deposit ratings scored higher than those with less favorable ratings.
Fraud liability policies: We awarded financial institutions for offering fraud liability protections for consumers in the event of an unauthorized purchase.
Multi-factor authentication: Apps that offer an added layer of security via facial or fingerprint recognition, security codes, or other forms of two-factor authentication scored more favorably than those that do not.
Asset size: Banks with larger assets under management were scored higher, as banks with more assets spread across various categories may be able to better absorb losses and offer more stability than smaller banks.
Texas ratio: The Texas ratio is a formula that measures a bank’s health by taking its nonperforming assets and dividing that by its tangible equity and loan loss reserves. Banks that had a lower Texas ratio scored more favorably on our list.
History of data breaches: Financial institutions that did not have a publicly reported data breach in the past five years received a boost in ranking.

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