6/23/2023
California is the most populous state in the U.S., and it is also one of the largest economies in the country. This large population and economic strength means that California is home to a large number of both U.S. and foreign banks.
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California is also home to the largest Spanish-speaking community in the U.S., which is why it is necessary to offer information in Spanish about the main banks operating in California. Here you can see a list of the top banks preferred by California residents to provide information about each one of them.
Every customer will need different things from their bank, but you are sure to find the one that best suits your interests among this list of the top banks rated by customers themselves.
Chase Bank
This is one of the largest banks in the United States and has a large presence in California, being the bank with the largest number of branches throughout the state and the one that is present in the largest number of cities.
Its great growth in California began in 2008 after acquiring the assets of Washington Mutual (American Savings Bank, Great Western Bank and Home Savings of America).
Today it has more than 900 offices in California and is present in 393 cities in the state . For the Hispanic public it has its web page in Spanish and staff that can assist in Spanish in the offices.
Chase Bank is the right bank for all those customers who need to have offices available in a large number of cities in California. Hours of operation are Monday through Friday from 9:00 AM - 5:00 PM.
Wells Fargo Bank
Is the bank with more tradition in California, born in 1852 in San Francisco, so it has a large presence throughout the state and is one of the favorite banks of Californians.
In recent years its expansion in California has been remarkable, Wells Fargo expanded with the acquisition of Barclays Bank of California in 1988. In 1991, the company also acquired San Diego-based Great American Bank. Its largest acquisition in the state came in 1996 with the purchase of Los Angeles-based First Interstate Bank.
But since its founding 170 years ago, it has also been expanding throughout the rest of the states and today it is one of the largest banks in the U.S., offering financial services in many parts of the world.
It has more than 900 branches and a presence in more than 300 cities in California. It offers customer service in Spanish, a website in Spanish and all financial products for retail and corporate customers.
Bank of the West
Bank of the West is a large regional bank headquartered in California that over the years has expanded throughout the Western and Midwestern United States. Since its birth in San Francisco in 1874, it has been serving the Golden State for almost 150 years.
Its presence is not as large as that of the previous banks, but it has offices in more than 170 cities in California, covering a large part of the state's population,
It is a bank that is well valued by customers who want in-person attention, and its customer service is among the highest rated. Those who prefer electronic banking have the highest rated mobile app.
The most popular account is Any Deposit Checking, so called because you can open it with a penny ($0.01), allowing many people to be part of banking with no minimum amount.
Mechanics Bank
Mechanics Bank was founded in Richmond, California in 1905. The bank has grown in branches in smaller cities and not so much in large cities such as Los Angeles (no branches there) or San Francisco (1 branch).
Its business is focused on small cities in the San Francisco Bay Area and the Central Valley of California, with a presence in 115 California cities. It is a bank with a high level of personal attention in smaller cities, offering high quality banking services to their residents. Ideal for people who do not live in major cities.
Ally Bank
When asked about banking customers in California, one of the most popular banks is Ally Bank , which appears in all surveys as one of the favorites, even though it is not a traditional bank with branches throughout the state. It is an online bank, and is the top-rated electronic bank in the entire US.
Ally Bank is the right bank for anyone who prefers to bank online and through the online banking application. Its online platform is fast and easy to use, which is why it is so highly rated.
Ally Bank also offers accounts with no set-up fee and no minimum amount, as well as accounts that provide good interest for the money deposited, so their customers' savings grow every month. The APY they offer on their accounts depends on the balance of the savings account, currently for California it can reach up to 3.30%.
To withdraw money, Ally has joined the Allpoint ATM network, which has more than 55,000 machines throughout the state. To cash a check, they can deposit it into online banking by depositing a photo.
U.S. Bank
It is the top-rated bank by California customers in terms of customer service. Although US Bank arrived in California in 1988, it has not stopped growing and offers its customers more than 460 branches in almost 300 cities throughout the state.
Its good ratings are especially due to its good handling of customer problems, the number of branches and its good variety of products.
For the retail market they offer different types of accounts, highlighting their Bank Smartly Checking Account that allows withdrawals at more than 28,000 ATMs free of charge, and offers free debit cards. A large number of different mortgages are available to suit any customer.
CIT Bank
CIT Bank operates as a subsidiary of CIT Group, and is one of the most recognized online banks in the U.S. and a favorite among California customers.
A small portfolio of online products, but with a good return on its accounts, is what makes CIT Bank stand out the most. Its products are divided into:
Savings. With an APY as low as 5% and an opening amount as low as $100.
CDs. There are instruments with deposits of at least $1,000 and APYs as high as 5%.
Mortgages. They are known for their personalized attention, simple procedures, promotions and terms of 10 to 30 years to pay.
A minimum deposit of $100 is required to open an account at CIT Bank.
Bank of America
The list could not miss Bank of America, a reference in US banking that appeared in California in 1904. It is one of the financial giants known worldwide with presence in more than 40 countries. In California it has more than 800 offices where it personally serves customers in 368 cities in the state.
A bank highly valued by the type of customer who wants to work with a large entity, with all the guarantees and a wide range of financial products.
Bank of America products can be signed up for in-branch and online, and you can even deposit checks without ever stepping foot in a branch from the mobile app. So Bank of America brings together the best of branch and online banking.
East West Bank
This is the largest independent bank in Southern California, and it earns a spot on this list because low-income and student checking accounts are available at no cost.
East West Bank was founded in 1973 to serve the financial needs of Chinese Americans in Los Angeles, and today has more than 120 branches. It has specialized in helping communities and groups with a high valuation by its customers.
It is the bank of choice for students and certain groups. Also noteworthy is its program to facilitate access to housing for the most vulnerable people.
Español: Los 10 bancos más populares de California