10 best banks in New Jersey

Which are the 10 best banks in New Jersey?

If you happen to be residing in New Jersey among the 9 million people, then you have access to a variety of excellent banks. Whether you are inclined towards a large national bank or a smaller community bank, the state has it all. However, you might get confused as to which are the 10 best banks in new jersey.

glass buidling with text Which are the 10 best banks in New Jersey?

This article aims to simplify your hunt for the best bank in New Jersey by highlighting the top ones as selecting the right bank depends on your individual financial requirements, which vary based on your circumstances.

For instance, someone may want to establish their credit score by getting their first credit card, while others might be keen on exploring home equity loans or other financial products. So let us jump to the list of the 10 best banks in New Jersey.

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Bank of America

Bank of America is a great choice if you prefer to bank with a well-established national bank that operates throughout the United States.

Boasting the second-largest presence among financial institutions in the US, the bank has branches in all 50 states and offers a range of financial products, including checking accounts, debit cards, and CDs.

Additionally, Bank of America is a member of FDIC, ensuring that your money is secure up to $250,000. If you are a fan of mobile banking, the bank’s mobile app allows you to perform most banking tasks, such as bill payments and check deposits.

Keep an eye out for the bank’s promotions and bonuses, which often target new customers.

Provident Bank

Provident Bank is a well-established local bank that has been serving New Jersey, New York, and Pennsylvania for over 180 years. They offer a range of financial services, including personal and business banking, loans, insurance, and wealth management. The bank has over 90 locations, with 77 branches in New Jersey alone.

Customers can choose from different deposit accounts, including the Basic Checking account that comes with a Provident Debit card, unlimited ATM transactions, and no minimum balance requirements. For those who want an interest-bearing checking account, Provident Smart Checking is available, offering a competitive APY on balances up to $15,000.

Provident Bank also provides access to a Financial Wellness center, which is an excellent resource for learning about personal financial topics, such as saving for emergencies or getting a mortgage. Additionally, the bank offers overdraft protection called Overdraft Privilege, which can provide discretionary payment of overdrafts on eligible accounts.

Santander Bank

Santander is a banking institution that exudes a sense of community, with over 20 branches and ATMs in New Jersey.

It provides a range of banking services for individuals and small businesses, and boasts an extensive network of over 2,000 ATMs across the United States.

One of its most enticing offerings is the Ultimate Cash Back Card, which offers 3% cash back and an introductory 0% rate for the first year, with no annual or foreign transaction fees.

Santander offers three checking accounts, with the Simply Right Checking account being the most basic. You can easily avoid the $10 fee by making at least one transaction per calendar month.

The Savings account has a low $25 minimum opening deposit and no minimum balance requirement. Additionally, Santander offers digital banking tools such as online and mobile banking, with the latter receiving favorable ratings, particularly for iOS devices.

PNC Bank

PNC Bank, established in 1845, is a national bank with more than 2,600 branches in 21 states across the US. In New Jersey alone, there are 227 branches and ATMs.

The bank offers competitive interest rates and a broad range of personal banking services, including checking and savings accounts, borrowing, investing, and wealth management services.

PNC Bank’s Spend account is its primary checking account and comes with Virtual Wallet, an online tool for managing your checking, savings, or other accounts.

There are three tiers of the Spend account, each with different benefits. You can opt for Virtual Wallet as a standalone service with the basic checking account, which has a monthly fee of $7 that you can waive by meeting specific criteria such as a $500+ monthly direct deposit or balance.

Virtual Wallet provides digital tools to help you track your spending, savings, and plan for the future. Low Cash Mode is one of its useful features, which offers a grace period and zero insufficient funds fee.

Wells Fargo Bank

Wells Fargo is a well-known bank with a strong presence in New Jersey, boasting over 250 bank locations and 400+ ATMs throughout the state, including 17 bank branches in Newark.

With operations in more than 40 countries, Wells Fargo offers a broad range of products and services to cater to the needs of individual customers and businesses alike.

To suit the diverse financial needs of its customers, Wells Fargo offers four checking account options, namely Everyday Checking, Clear Access Banking, Prime Checking, and Premier Checking, all with a $25 minimum deposit.

There are monthly fees associated with each account, ranging from $5 to $35, but they can be waived if certain conditions are met.

Wells Fargo’s Platinum Savings account has a low minimum deposit of $25 and a monthly fee of $12, which can be waived if the account balance remains above $3,500.

Customers can earn 0.25% APY on balances between $0 to $99,999.99, while balances exceeding $1 million can earn 1.98% APY.

TD Bank

TD Bank is a well-known national bank with a strong presence in New Jersey. With over 1,300 branches across the U.S., including more than 80 in New Jersey, TD Bank is a convenient choice for those who prefer in-person banking.

However, if online banking is more your speed, TD Bank’s mobile app is highly-rated and user-friendly. This bank provides a wide range of personal and business banking services, such as checking accounts, CDs, and personal loans.

For those who prioritize competitive interest rates, TD Bank’s TD Signature Savings account may be a good option, but it requires a substantial deposit of $250,000 to earn the highest tier rate.

With TD Bank’s online banking services, including money transfers through Zelle and bill pay, you can take care of most banking transactions with ease.

Capital One

Capital One is a well-established FDIC-insured bank with numerous branches and ATMs throughout the United States, including 29 branches in New Jersey.

Their banking products cater to personal and business customers, encompassing services like checking and savings accounts, business banking solutions, and educational resources.

An exciting feature of Capital One is their pre-approval credit card check, which won’t affect your credit score. Their selection of cashback rewards credit cards is noteworthy, with the Capital One Quicksilver Cash Rewards Credit Card leading the pack, offering unlimited 3% cash back on all purchases during the first year, zero foreign transaction fees, and additional perks like 0% intro APR.

Capital One is also known for its excellent APY through the Capital One Performance Savings Account, which is accessible in all states. The account is fee-free and comes with overdraft protection, while no minimum balance is required to earn the full APY rate.

Valley National Bank

Valley National Bank, based in New Jersey, is the largest regional bank in the state with deposits of around $20 billion. Unlike big institutional banks that operate nationally, regional and community banks cater to local customers with lower deposits and a limited number of branches in specific states. As a locally owned and operated bank, Valley National Bank understands the unique needs of families, businesses, and farmers in the region, making it a great option for personalized banking services with face-to-face interactions.

Apart from traditional checking and savings accounts, Valley National Bank offers mortgage solutions and wealth management services, including investment and retirement accounts, trusts, endowments, and estate planning. Business owners in New Jersey can also benefit from Valley National Bank’s business loans, lines of credit, and credit cards designed for small businesses.

The Provident Bank of New Jersey

Provident Bank has been serving customers since 1839, and over the years, our growth and expansion have enabled us to compete with larger regional and national banks. Despite this progress, we’ve remained committed to offering personalized service – something that sets us apart from our larger counterparts.

We cater to both individual and commercial clients, providing a range of products and services. Our offerings include personal checking accounts, as well as commercial loans, all with the added benefit of personalized attention from one of our dedicated bankers.

As a wholly owned subsidiary of Provident Financial Services, Inc. (NYSE:PFS), we operate over 80 branches across New Jersey and Pennsylvania, in addition to providing telephone and online banking services to our valued customers.

Hudson City Savings Bank(M&T Bank)

Hudson City Bancorp, a bank holding company headquartered in Paramus, New Jersey, was renowned for being the parent company of Hudson City Savings Bank, which was the largest savings bank in the state of New Jersey and boasted of assets worth US$50 billion.

It made history in 2005 by holding the largest-ever secondary offering of common stock by a United States bank, valued at US$3.93 billion. Despite the housing boom, Hudson City Savings Bank remained conservative in its lending practices, earning it the “best bank of 2007” title by Forbes.

Eventually, M&T Bank acquired Hudson City in August 2012. Today, Hudson City Bancorp is a publicly-held entity and a constituent of the S&P 500 stock market index.

So, Which are the 10 best banks in New Jersey?

In conclusion, New Jersey is home to many top-performing banks, each with its unique strengths and services.

While factors like asset size, customer satisfaction, and financial stability may be used to rank the best banks in New Jersey, individual preferences and banking needs ultimately determine the right fit for each person.

It is crucial to conduct thorough research and evaluate banks based on their reputation, convenience, and services to make informed decisions when choosing a bank.

Whether you are looking for personal or business banking services, New Jersey’s best banks have got you covered with a wide range of offerings to suit your needs.


What are the most popular banks in New Jersey?

There are several popular banks in New Jersey, some of which are national banks with branches in multiple states, while others are local banks that primarily serve the New Jersey area. Here are some of the most popular banks in New Jersey, in no particular order:
TD Bank
Bank of America
Wells Fargo
Chase Bank
PNC Bank
Valley National Bank
Investors Bank

What major banks are in New Jersey?

New Jersey boasts several prominent banks, among which are Bank of America, TD Bank, Wells Fargo, PNC Bank, Capital One, and Santander. These banks are well-known entities in the financial industry and have established a significant presence in the state.

What is the most popular bank in NJ?

Wells Fargo is the most popular bank in NJ.

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