The 7 Safest Banks in the U.S.

Marian Miranda

One of the safest banks in the country is JPMorgan Chase because of its nationwide presence. Aside from this, Wells Fargo, Citibank, and others also have safety features worth noting.

If you are looking for the safest banks in the U.S. to deposit your money, then this article is for you. Here you’ll gain insight into the safety features of the following banks: 

  • U.S. Bank
  • Bank of America
  • JPMorgan Chase
  • PNC Bank
  • Citibank
  • Wells Fargo
  • Capital One 

7 Banks And Their Security Features

These seven banks share some tight security features with each other and a few have their own unique safeguards. Let’s start with the largest bank on the list.

JPMorgan Chase

Chase has been in the banking game for the longest time. Founded 224 years ago in September 1799, it has $3.7 trillion in assets as of 2022, over 4,700 branches, and more than 16,000 ATMs. 

Security features include:

  • Transaction alerts for suspicious activity
  • Two-factor authentication.
  • Controlled access to your information by third-party websites

Publication giant, Global Finance, ranked Chase in the top 10 safest banks in the country in 2022. They have put up better safeguards after a massive data breach affecting 76 million households in 2014. Included in these safeguards are a $250 million yearly investment in cybersecurity and the employment of 1,000 personnel to oversee its systems.

Bank of America

This bank is the second-largest in assets worth over $3 trillion. It has over 3,800 branches and 16,000 ATMs. Its Advantage Plus Banking has several security features including:

  • Fraud monitoring
  • Total Security Monitoring®
  • Online and Mobile Security Guarantee

With Total Security Monitoring, Bank of America provides you with account custom alerts, debit card controls, and safe mobile deposits. With online and mobile security, you are never liable for unauthorized transactions as long as you report them immediately.

Wells Fargo

Wells Fargo has headquarters in San Francisco and New York City with a vast banking system. It operates well over 4,900 branches and 12,000 ATMs. As of 2022, it has $1.9 trillion in assets. 

Like Chase, Wells Fargo has a standard yet solid two-factor authentication and transaction alerts. They also allow you to:

  • Turn your cards and digital numbers on and off
  • View recurring payments
  • Control third-party access to financial statements

One feature unique to Wells Fargo is the biometric sign-on and voice verification, which are very secure ways to confirm your identity. 


Despite having formed only in 1998 after a merger between Citicorp and Traveler’s Group, the multinational investment and financial services bank, Citigroup is one of the big four banks in the country. Citibank is its consumer-facing bank.

With over 70,000 ATMs, more than 700 branches nationwide, and even more abroad, Citigroup has $2.381 trillion in assets in 2022.

Just like other banks, its security is reliable. They offer these features:

  • Customer liability protection
  • Account alerts
  • Turn cards on/off
  • Have two-factor authentication
  • Data encryption

PNC Bank

PNC is another bank with a long history starting in 1852. Its headquarters are in Pittsburgh, PA, operating over 2,600 branches and 9,000 ATMs. Its assets are at $559 billion.

Like other banks, it uses data encryption to safeguard your banking information. Other safeguards are:

  • Security questions
  • Two-factor authentication
  • Customer reporting of suspicious activity

PNC also offers a variety of resources for safe banking practices.

U.S. Bank

Also referred to as U.S. Bancorp, it provides a set of identity authentication features many customers rely on: 

  • One-time passcodes
  • Biometrics
  • Visual patterns

Just like other banks, they use data encryption. They also allow you to report suspicious activity and provide valuable resources to prevent fraud. U.S. Bank is the fifth-largest in the country, with over 2,000 branches, more than 4,800 ATMs, and a record $601 billion in assets. 

Capital One

A newer bank formed in 1994, Capital One has grown significantly, with $455.2 billion in assets as of 2022. Because it is an online-only bank, it only operates 299 physical branches. Yet, one should be aware of its online system. You can safely do a lot using its mobile app. And there are more than 70,000 ATMs ready to serve you.

Capital One’s security features include the following:

  • Account alerts and monitoring
  • Turning your card on and off
  • Two-factor authentication
  • Setting up virtual cards to avoid using your real numbers online

These security details will help you choose which bank to flock to. 

Another two critical parameters are whether or not the FDIC insures your bank and if they refund your money when there’s a breach.

FDIC-insured and Money-Back Guarantee  

The FDIC will protect your money in case something happens to the bank. Your deposits of up to $250,000 are safe.

Next, check if the bank will refund your money if someone accesses your account without your consent and if they will return it immediately. Here’s how each bank performs using those standards.

BankFDIC-insuredMoney Guaranteed Against Unauthorized Access Next Day Cash Reimbursement
U.S. Bank 
Bank of America
JPMorgan Chase
PNC Bank 
Wells Fargo 
Capital One  

Your money will be insured if you store it in any of the banks listed, but Bank of America and Chase are the only ones that will reimburse your money overnight when you promptly report unauthorized access. 

Another factor to consider is the size of the bank. Larger banks are generally more secure because they are older and have more experience dealing with financial crises and other difficulties. When compared to smaller ones, the government is more likely to assist them in times of need.

Also, larger banks have more resources, sources of income, significant reserves, and options when recovering from a loss. As such, you can rely on the “big four” banks: Chase, Bank of America, Wells Fargo, and Citibank. But it’s also safe to bank with the others on the list.

Final Thoughts

Overall, data on bank safety is not widely available in the country. Bank personnel will be suspicious if you ask them a lot of questions. The parameters we’ve used here could help you decide on the bank for you. Still, take some time to see what other customers are saying about the bank you have in mind. Sites like Better Business Bureau, Trustpilot, and others can help you. 


Are national banks safer than local/smaller banks?

It’s not a general rule that national or bigger banks are safer. Regardless of size, if your bank has a formidable security system, it determines how secure it is. 

What other security features does my bank offer?

One neat technology you will commonly see now is the EMV chips on debit and credit cards. These little gold or silver chips are safer than the black magnetic strips at the back of cards.  

What else should I consider when choosing the safest bank for me?

Consider a bank’s customer service. Banks that are easy to contact at any time of the day are a good sign that they can take good care of you and your finances. 


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