The Best New York Banks and Credit Unions


The most reputable financial institutions in New York provide clients with diverse goods and services, competitive interest rates, customer-friendly account criteria, and online account management tools. The best banks in the state consistently get high ratings from their customers. They typically make it easy to obtain their services by maintaining extensive ATM networks and local branch assistance across the state, from Buffalo to Brooklyn and beyond.

Discover Bank

The Cashback Debit account offered by Discover cannot accept any new clients now. Customers can receive 1% cash back on up to $3,000 in debit card transactions made each month while the feature is enabled. There is no cost associated with maintaining the account. You can also open a savings account or a certificate of deposit account, both of which provide remarkable rates. There is no required minimum deposit required for savings accounts.

Discover is an online bank, but if you need assistance, you may call their customer care line, which is open around the clock or use their social media channels. Also, obtaining cash will be fine for you. Discover has partnerships with two of the nation's largest ATM networks, allowing you to make free cash withdrawals from more than 60,000 ATMs around the country.

Alliant Credit Union

Checking accounts from Alliant is free of charge and provides a reasonable interest rate. When you open a High-Rate Savings account with the credit union, Alliant will contribute the necessary $5 to get you started earning interest at a rate of 2.60%.

Alliant is an online-only company, although its customer care may be reached via phone around the clock. Unusually for a credit union, membership is available to almost anybody who meets the following criteria: If you join up and choose to assist the partner charity Foster Care to Success, Allianz will make a gift of $5 to the organization. In addition, members get access to over 80,000 free ATMs nationwide to withdraw cash.


Just like other major financial institutions, Chase offers various checking account choices. Even the most basic one charges a monthly cost, but it's easy to get around paying it. The annual percentage yields (APYs) offered by savings alternatives are rather low; the basic savings account earns 0.01% as of 07/02/2022. Rates of interest are not set in stone and are subject to change. The account does not provide competitive interest rates, but its monthly cost may be avoided with little effort, and the bank provides a large sign-up bonus for new checking users.

When it comes to convenience, Chase is in a class by itself. It operates more than 4,700 locations around the United States, including more than 600 in the state of New York alone. In addition, it has more than 16,000 automated teller machines and smartphone applications that have received positive reviews.

M&'T Bank

M&'T does not assess a monthly fee for its basic checking account, but the account also does not pay interest, and the bank needs to pay more on interest for basic savings accounts. The account's annual percentage yield (APY) is a pitiful 0.01%.

Ally Bank

The checking and savings accounts offered by Ally are free of charge monthly and pay interest on deposits. It has a very attractive savings rate of 3.30 percent and offers excellent returns on certificates of deposit.

Ally is an online bank; thus, it does not have any physical branches; however, it does provide customer care through live chat and a phone line that is staffed around the clock. In need of money? You are not charged to use any of the more than 43,000 automated teller machines (ATMs) that are part of the Allpoint network, and if you have to use an ATM that is not part of the network, you are free to get up to $10 a month in reimbursements for any fees you incurred.

PenFed Credit Union


PenFed provides a simple checking account option that does not demand a minimum balance to maintain the account and does not charge a monthly maintenance fee. Additionally, it provides an account that pays a minimum of 0.15% interest on checking balances. The monthly cost may be easily avoided by following these steps: Keep at least $500 in your account daily or have at least $500 sent directly into your account each month. The annual rate yield (APY) for PenFed's online savings account is a competitive 1.20%. The interest rate on PenFed's money market certificates, which are analogous to CDs, may reach an impressive 3.90 percent.