The 5 Safest Banks in the US 2022

Nov 01, 2023 By Triston Martin

It may feel like putting your money into a bank account is the safest place to save your cash, but should you assume this is the case? What guarantees do you have that your money will be safe? Many people think it is not surprising that there are billions of money stored in US banks because they believe it will always be there.

Unfortunately, it's not uncommon for banks to go bankrupt. Now is not the time to fear putting money in the bank. It would be best if you weren't worried since we're about to provide you with a list of some of the most secure banks in the United States.

Top Safest Banks In America

Most Americans store their money in banks, using checking and savings accounts for their day-to-day monetary needs. Even though depositors at the vast majority of banks are guaranteed a certain level of safety, it's still in your best interest to familiarize yourself with the specifics of that guarantee, including the percentage of your deposit that is insured and the regulations to which the vast majority of banks are subject.


Suppose you have substantial investment assets, a sizable savings account, or a loan or credit card with Citi. In that case, you have a loan or credit card with a well-regarded financial institution. Opening an account with Citi might earn you a bonus, but only if you match the bank's stringent standards.

A Citibank Account package will earn you a $300 incentive if you deposit at least $15,000; a Citi Priority Account package will earn you a $500 bonus if you deposit at least $50,000. You may earn extra ThankYou Points using your Citi credit card and other Citi services.

You can trade these for merchandise, free flights, and more as part of their rewards program. Gaining early, elite access to athletic events and concerts is also possible with the Citi Private Pass. The value of your points increases with the Citi ThankYou Premier Card or the Citi Prestige Card.

BNY Mellon

Bank of New York Mellon, sometimes known as BNY Mellon, is the product of a merger between that company and T. Mellon and Sons, an institution in Pittsburgh that provided financing for the steel and gasoline sectors. In 1784, Alexander Hamilton was one of the people who helped establish the Bank of New York. Hamilton would then become the first Secretary of the Treasury.

Due to its extensive history, BNY Mellon is now the oldest financial organization in the United States. It has a total asset value of $444 billion and maintains locations in 29 cities across the US, the District of Columbia, and three other countries (Dubai, Grand Cayman, and England). Investment management is a service offered by the company's affiliate, BNY Mellon Wealth Management.

Bank of America

One of the largest financial institutions is Bank of America. There is a Bank of America branch conveniently located near you because the bank has over 4,500 offices across the United States. Their support staff is second to none.

They maintain customer service hotlines that are accessible Monday through Friday, 8 to 11 p.m., and Saturday and Sunday, 8 a.m. to 8 p.m. You can contact them by phone, but you can also find them on social media and online chat if you have any questions.

The Mobile Banking app from Bank of America is convenient since it lets you customize alerts for various account actions, such as unanticipated card usage or a lack of available money. Bank of America is the best bank in America if you need a convenient bank because it is open 24/7 and has several ATMs.

Wells Fargo

With its $1.88 trillion in assets, Wells Fargo ranks as the third biggest bank in the United States. However, compared to its competitors, it has the most locations, with 4,874, as reported by Statista. The firm is a financial services provider with headquarters in San Francisco.

With its original charter dating back to 1852, Wells Fargo is the nation's longest continually running bank. It was initially awarded to the First National Bank of Philadelphia but was later acquired by Wachovia.

Some publicity was garnered in 2016 after it was revealed that workers had been encouraged to open unauthorized accounts for 2 million consumers. The company's CEO, Tim Sloan, resigned in 2019 following allegations of illegal foreclosures and other violations of consumer protection legislation.

CIT Bank

CIT Bank routinely ranks among the best options when comparing savings, money market, and certificate of deposit interest rates. They provide extremely adaptable alternatives for certificates of deposit (CDs), such as an 11-month no-penalty CD with an annual percentage yield of 2.15%, enabling early withdrawals after only one week of holding the account.

Where they fall short, however, is in the area of checking accounts. They do not even provide the option of opening a checking account. If you require a small number of transactions each month, the money market accounts offered by CIT Bank give six free transactions to its customers.

It might work for folks with straightforward budgets and frequent cash purchases. On the other hand, if you are searching for a bank that will provide you with the greatest possible rates of interest on your money, your best bet will be CIT Bank.


The balances in your checking, savings, and other bank accounts can significantly affect how your finances turn out. A financial planner can help you evaluate how well your banking options support your long-term objectives. It is not necessarily difficult to locate a competent financial advisor.

If the costs at your local bank seem excessive, you may want to look into a national bank with online account options or a bank that operates solely online. These banks typically provide looser criteria for fee waivers and greater interest rates on savings to entice new customers.

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