Loading
Tap on the profile icon to edit
your financial details.

Best Banks in Texas

Your Details Done
by Lauren Perez Updated

Finding the Best Banks in Texas

The best banks in Texas are those that provide the easiest and most convenient access, affordable account minimums and fees and the best interest rates in the industry. Read on as we explore which banks provide the best banking experiences.

Bank APY Minimum Deposit Highlights
Wells Fargo Open Account Read More 0.01% $25
  • Best National Bank
  • Thorough online and mobile features 
BBVA Compass Open Account Read More 0.05% $25
  • Best Local Bank
  • Wide variety of account options
Frost Bank Open Account Read More 0.15% $50
  • Best Customer Service
  • Human customer service guaranteed
Capital One 360 Open Account Read More 0.20% $0
  • Best Free Checking Account & High Yield Checking Account
  • Thorough online and mobile banking features
Capital One 360 Open Account Read More 1.00% $0
  • Best Savings Account
  • Thorough online and mobile banking features
Chase Open Account Read More 0% $25
  • Best for Student
  • Convenient banking perks

How We Determined the Best Banks in Texas

To find the best banks in Texas, SmartAsset’s team of personal finance experts rounded up the top 20 banks in the state according to number of bank branches. The banks with the most branches were chosen as the best national and best regional banks, respectively. To determine the best individual accounts, we looked at each bank’s account offerings including fees, minimums and interest rates. 

Best National Bank: Wells Fargo

A big factor when choosing the right bank is its availability. If you find yourself constantly needing an ATM or to visit a branch, you’re going to want a bank with lots of locations near you. Wells Fargo offers the best option in Texas with over 640 branches and 1,200 ATMs. The bank also operates in 39 other dates and Washington, D.C. Additionally Wells Fargo provides thorough online and mobile services, meaning you can access your money virtually anywhere. 

As a big bank, Wells Fargo is able to offer a variety of bank accounts including two savings accounts, three CD types, five checking accounts and retirement accounts. This allows you to keep all your bank accounts in one place if you wanted to do so. There’s even a Teen Checking account so your teens can learn how to manage their money alongside you.

However, being a big bank also means that Wells Fargo can’t offer the highest-earning savings accounts. Its most basic rate lands at 0.01%, the lowest you can go. To earn at the highest rate, you’ll have to open a long-term CD. 

Best Regional Bank: BBVA Compass

If banking with a nationwide name just isn’t your pace, BBVA Compass provides another great banking option. Although BBVA Compass began a few states over in Alabama, the bank has had an increasing presence in Texas since the 1980s. Today, you can find over 340 branches in Texas. You’ll also have worldwide access to BBVA Compass and Allpoint® ATMs. 

BBVA Compass offers its customers four different checking accounts, two savings accounts, a money market account and four varying CD terms. Providing a wide variety of bank accounts helps each customer find the right account for themselves, whether that’s a free checking account, a 36-month CD or both. Plus, most BBVA Compass accounts lack minimum requirements and monthly fees. If there are fees or minimums, the bank keeps these amounts low, making each account more widely accessible. The bank also provides MoneyFit, a resource for financial advice and tips to further help its customers. 

It’s worth mentioning that BBVA Compass offers some pretty competitive interest rates on a few accounts. For starters, the bank has a high-earning checking account with a 0.50% APY, much higher than what many big banks can offer on a checking account. Its ClearChoice Money Market Account earns at a much higher APY at 1.40%. Then the bank’s highest rate comes with its 12-month CD with a 1.85% APY. Unlike most other banks’ CD accounts where rates increase with the term length, BBVA Compass’ three longer-term CDs all have much lower rates.

Best Customer Service: Frost Bank

In a customer satisfaction study by J.D. Power, Frost Bank secured the best scores for overall satisfaction in all of Texas. This is due to a number of factors, especially the bank’s transparency with its customers about the benefits and fees of their accounts. Frost promises human customer service “right here in Texas” when you call any of the service numbers. You can also request for a representative to call or email you regarding your banking concern. Want to speak to someone face to face? Frost has over 145 branches throughout Texas, including San Antonio, Houston and Dallas. The bank also commits itself to being active in the communities it exists in, providing financial workshops and resources to those in the community. 

When looking at Frost Bank accounts, you’ll be pleased to see that the bank charges low fees that are easily waivable. Plus, every student who opens a Frost checking account will only ever pay $4 a month. You’ll also find savings account interest rates that perform better than the industry average, whether through a CD, savings or money market account.

Best Free Checking Account & High Yield Checking Account: Capital One

Although a household name, not everyone throughout the U.S. can benefit from Capital One branches in their state. Texas residents, however, have access to over 100 Capital One locations, including Capital One cafes. This means Texans can visit a Capital One Cafe to open an account, make deposits and more while enjoying a freshly made latte. Plus with its Kids Savings and MONEY teen checking account, Capital One opens its benefits to youngsters.

The Capital One 360 suite offers some of the best bank accounts in the industry. For starters, the Capital One 360 Checking® account is one of the best free checking accounts. It doesn’t charge a monthly maintenance fee, nor is there a minimum balance requirement. This means you can use the account as you please without worrying about recurring charges.

Plus, the account earns interest at competitive rates, further boosting your savings. The rate at which your money will grow depends on your account balance. Lower balances earn at a 0.20% APY, mid-tier balances earn at a 0.75% APY and the highest balances (think over $100,000) can snag a 1.00% APY. Even the Capital One MONEY checking account, tailored for teenage users, earns at a decent rate of 0.25%.

Best Savings Account: Capital One

Capital One 360 savings accounts also offer the same great benefits with competitive rates, no monthly fees and no balance minimums to meet. You can open a standard 360 Savings® or Kids Savings Account to earn at a 1.00% APY. If you have over $10,000 to deposit, you can take advantage of the Capital One 360 Money Market® account balance tiers to earn at higher rates. Finally, for a more strict take on savings accounts, you have access to nine different CD terms from six to 60 months, each with a competitive interest rate. 

Best for Students: Chase Bank

When it’s time to go to college, the least of your worries should be where to find an ATM. Banking with a big bank like Chase takes care of that for you, with thousands of accessible branches and ATMs throughout the country. This especially helps students attending school out of state since it can be hard to find local bank branches elsewhere. 

College students can benefit from the Chase College Checking account, which is meant for college students 17 to 24 years old with proof of student status. There is a small monthly fee of $6, although you can waive this fee for five years while in college, with a direct deposit each statement cycle or with an average daily balance of at least $5,000. 

If you’re not quite college age yet, Chase also has its Chase High School Checking account. This account also has a monthly service fee of $6. You can have this fee waived by linking a qualifying personal parent or guardian’s checking account, making a direct deposit to this account each statement cycle or maintaining an average daily balance of at least $5,000. This account is meant for students aged 13 to 17 who have an adult co-signer.

Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure

Best Places to Save

SmartAsset’s interactive map highlights the places in the country where people have the opportunity to save money. Zoom between states and the national map to see the best places to save.

Worse
Better
Rank County Median Household Income Cost of Living Purchasing Power Estimated Tax Rate

Methodology

Where you live can have a big impact on how easy it is to save money based on several regional factors. Our study aims to find the most suitable places for people to save based on median household income, average living expenses and income tax burden.

First, we calculated the average cost of living in each county for a household with two adults (one working). We then created a purchasing power index for each county. This reflects the counties with the highest ratio of household income to cost of living.

To better compare income tax burdens across counties, we applied relevant deductions and exemptions before calculating federal, state and local income taxes for a family making $50,000 annual income in each location. Next, we created an effective tax rate index for each county, which reflects the counties with the lowest ratio of income taxes to the assumed $50,000 annual income.

Finally, we calculated the weighted average of the indices to yield an overall best places to save score. We used a three-fourths weighting for purchasing power and a one-fourth weighting for tax rates. We indexed the final number so higher values reflect places that are better to save.

Sources: US Census Bureau 2015 5-Year American Community Survey, MIT Living Wage Study