The problem: Most Washington residents juggle separate checking and savings accounts, manually transferring money back and forth to earn interest. It’s time-consuming and you miss out on interest while money sits in checking earning nothing.
Here’s what’s different: Axos ONE® eliminates the hassle with a single account that functions as both checking and savings. Your entire balance earns competitive APY automatically—no transfers needed. Save time, earn more interest, and simplify your banking completely.
How This Saves You Time
Instead of logging into two accounts and manually moving money to maximize interest, everything happens automatically. Your entire balance earns interest whether you’re using it for daily spending or saving it. No more deciding how much to keep in checking versus savings. One account, one login, zero time wasted on transfers. Perfect for busy Washington residents in Seattle, Spokane, or Tacoma who don’t want to micromanage their banking.
Pros
- One account replaces checking and savings
- Entire balance earns competitive APY automatically
- No manual transfers needed between accounts
- $0 monthly maintenance fees
- $0 minimum balance required
- $0 overdraft fees
- Unlimited ATM fee reimbursements
- Mobile check deposit from anywhere
- FDIC insured up to $250,000
- One login for all your banking
Cons
- No physical branches in Washington
- Cannot deposit cash directly
- Online-only customer support
- Best APY requires direct deposit
- Not ideal if you prefer separate accounts
Did you know that you can fold a dollar 4,000 times before it will tear? You can still cash a torn dollar if most of it is intact.
Most of us no longer use cash, but having a bank account is still a staple of managing your finances. After all, our currency hasn’t gone virtual yet.
We’ve compiled a list below of the best banks in Washington for you. These banks offer several products and services that make banking simple.
The best banks also offer superior financial education tools, including budgeting programs and online resources. You may even have access to a financial planner if you’re an account holder.
Are you ready to learn more about the best banks in Washington? Let’s get started!
15 Best Banks in Washington
The best banks offer everything from checking and savings accounts to personal loans. Keep reading to see if your favorite bank made the list.
1. Axos Bank
Washington residents paying banks $15-25 monthly while earning nothing should switch to Axos ONE®.
One account replaces both checking and savings. Your entire balance earns competitive APY automatically…no transfers, no hassle, no wasted time moving money around.
I tested this against KeyBank and Umpqua. The difference is instant. Zero monthly fees. Zero minimums. Zero overdraft charges. And your money actually grows instead of sitting dead in checking.
Most people keep $2,000-5,000 in checking earning nothing. With Axos ONE®, every dollar earns competitive APY automatically. No logging into two accounts. No calculating how much to transfer. No waiting for transfers to clear.
Online-only means no branch overhead, that’s how they pay you instead of charging you. I’ve used ATMs across Washington and gotten automatic fee reimbursements. Mobile check deposit works perfectly. Everything a branch does, minus the fees and 9-5 schedule.
Stop paying to park your money. Stop wasting time on transfers. One account, competitive APY on every dollar, zero fees.
Best for: Washington residents who want their money working harder without juggling multiple accounts.
Axos One® Savings And Checking Bundle
5.0
Best for high-yield savings
- Earn up to 4.31% APY on savings, and 0.51% APY on checking
- Get your money up to 2 days early
- No monthly maintenance, minimum balance, account opening, or overdraft fees
- Access expanded FDIC Insurance for up to $265 million
2. CIT Bank
CIT Bank is a powerful option for Washington residents who want high-yield savings without the fees. As an online-only bank backed by the strength of First Citizens Bank, CIT offers no monthly fees, no minimum balance requirements, and interest rates that far exceed most traditional banks.
Whether you’re in Seattle, Spokane, or anywhere in between, you can open an eChecking account here with just $100 or take advantage of their popular No-Penalty CD, perfect for building an emergency fund or saving for a down payment in Washington’s competitive housing market.
CIT Bank combines FDIC-insured security with modern digital features like mobile banking, early direct deposit, and Zelle®—all accessible 24/7. If you’re a remote worker in Bellingham, a commuter in Bellevue, or just tired of low rates and hidden fees from local branches, CIT gives you a smarter, more rewarding way to bank.
CIT Bank remains one of the largest banks in the U.S., offering its clients a wide range of accounts. It’s a great choice if you’re looking for a new bank account in Washington.
Free checking account
CIT eChecking
4.5
- Earn up to 0.25% APY on your checking balance
- No monthly fees or minimum balance required
- Access your account anytime with mobile banking and Zelle®
The Annual Percentage Yields (APY) and interest rates are effective as of December 15, 2025. Fees may reduce earnings. Checking APYs and interest rates are variable and may change at any time without prior notice, including after account opening. The minimum opening deposit for eChecking is $100. See Fee Schedule and Agreement for Personal Accounts for details.
To obtain the interest rate and APY disclosed, the minimum balance for the applicable balance tier must be maintained.
Must have a bank account in the U.S. to use Zelle. Transactions typically occur in minutes when the recipient’s email address or U.S. mobile number is already enrolled with Zelle. Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license. The Apple Pay logo and Apple are registered trademarks of Apple Inc. The Samsung Pay logo and Samsung are registered trademarks of Samsung Electronics Co., Ltd. Member FDIC. For complete list of account details and fees, see our Personal Account disclosures. (https://cit-fcb-t.cit.com/cit-bank/resources/forms)
3. KeyBank
If you live in Washington and want a reliable checking account with no monthly fees, Key Smart Checking® is a top choice. It has no minimum balance requirement, offers free paper checks, and gives you access to over 40,000 fee-free ATMs nationwide. KeyBank has a strong presence across Washington from Aberdeen to Zillah, so you can count on having a branch nearby when you need one.
The mobile app is easy to use and comes with features like overdraft protection and EasyUp, which helps you save automatically every time you use your debit card. While it does not earn interest, the combination of convenience, accessibility, and zero hidden fees makes it one of the best everyday checking accounts for Washington residents.
If you want a straightforward way to manage your money with the added peace of mind of local support, KeyBank is a great place to start.
$300 bonus
4. SoFi Bank
Life in Washington is fast moving, from Seattle coffee shops to Spokane trails, and your bank account should keep up. SoFi makes it easy to manage everything in one place while actually rewarding you for using it.
New customers can unlock a $300 welcome bonus just by setting up direct deposit. At the same time, your money starts working harder with up to 4.50% APY on savings and 0.50% APY on checking. That means the cash you keep parked is earning far more than it would at a branch on the corner.
Beyond the rates, SoFi gives you fee free overdraft coverage, access to over fifty five thousand ATMs nationwide, and an app that has budgeting tools built right in. Many Washington residents use it as their all in one hub, replacing both their bank and their budgeting app.
If you are ready to move past accounts that give little back, get your $300 bonus here and see how much more you can earn with SoFi. Or, if you are mostly interested in growing savings, see the current APY rates before opening your account.
$300 bonus
SoFi Checking & Savings
5.0
Checking & Savings combined into one account
- Earn up to 4.30% APY on savings and 0.50% APY on checking balances
- No monthly fees, minimum balance requirements, or overdraft fees
- Earn up to $300 with direct deposit, terms apply
5. U.S. Bank
U.S. Bank is a top choice for Washington residents, with over 80 branches across the state and a strong presence in 26 others. Whether you’re managing personal finances or running a business, U.S. Bank offers a wide range of convenient banking solutions.
A standout option is the Smartly® Checking account, which you can open online with just $25. It includes all the essential features, and the $6.95 monthly fee can be waived with qualifying direct deposits or by maintaining a minimum balance.
For business owners, U.S. Bank now offers two powerful options: the Business Essentials Checking and Platinum Business Checking accounts. With the latest promos, you can earn $400 or $1,000 just for opening a new account and meeting simple deposit and transaction requirements.
You can apply online, by phone, or visit one of their many local branches, making it a convenient and rewarding choice for anyone banking in Washington.
$400 Bonus
6. Great Northwest Federal Credit Union
While Great Northwest Federal Credit Union may not have the best money market accounts, it does offer low membership fees for those who live, work, or worship in Gray’s Harbor or Pacific County. Families can also invite immediate members to join.
Once you make a $5 initial deposit into a savings account, you can take advantage of several financial benefits. These include the following checking accounts:
- Regular Share Account
- Money Market Account
- Great Value Checking
- Regular Draft Account
- Platinum Plus Checking
Make a $25 minimum deposit with the Great Value Checking account, and you’ll pay no monthly fees. Great Northwest Federal Credit Union also offers interest-bearing checking accounts, free online banking, bill pay, and a free Visa debit card.
You can find Great Northwest Federal Credit Union locations in Aberdeen, Raymond, Long Beach, and Ocean Park.
7. HomeStreet Bank
HomeStreet Bank is a longstanding community bank that has proudly served customers in Washington, Oregon, California, and Hawaii for over a century. You can find over 30 HomeStreet branches in Washington.
This bank offers many financial services catering to consumers and businesses. These services include mortgages and commercial real estate financing.
HomeStreet Bank offers a variety of account options, including checking accounts, savings accounts, and CDs. A free HomeStreet Bank checking account has no minimum daily balance requirements or monthly fees.
While paper statements incur a $5 fee, customers can access their statements for free through the online banking platform. Dedicated to giving back to the community, HomeStreet Bank actively supports local causes and initiatives.
8. MountainCrest Credit Union
MountainCrest Credit Union offers a FreeFresh Start Checking option, designed as a second-chance checking account. With a $25 minimum opening deposit and a $10 monthly fee, this account caters to individuals looking for a fresh financial beginning.
There are also no minimum balance requirements for this second-chance checking account. The credit union includes free online and mobile banking with bill pay, eStatements, and telephone banking.
In addition, customers receive a Visa debit card. MountainCrest Credit Union has branches in Arlington and Everett.
You must deposit $5 into a savings account to become a member. Membership eligibility extends to those living, working, or worshiping in Washington state.
9. Mountain West Bank
Mountain West Bank offers four checking accounts, including:
- Totally Free Checking
- Easy Interest Checking
- 50+ Interest Checking
- Premier Interest Checking
Each account requires a $50 minimum deposit to open. Accounts also come with free online and mobile banking, bill pay, remote deposit, eStatements, and a Visa debit card.
10. Salal Credit Union
Salal Credit Union offers four different types of checking accounts. Three out of the four of them do not have monthly fees. Preferred Interest Checking is the one that doesn’t, and the monthly fee can be waived if a balance of at least $2,500 is maintained.
The free checking account offered by Salal does not earn interest, but the other three checking accounts do on an account that has a balance greater than $0. You must deposit $25 to open this account.
Pathway Checking also comes with a $10 monthly fee. However, you can waive this fee if you:
- Complete at least 15 debit card transactions each month
- Deposit $250 into your account each month
Each action will decrease the monthly fee by $5. Salal Credit Union has convenient locations in Tukwila, Seattle, and Bellevue.
11. Umpqua Bank
Umpqua Bank offers a straightforward checking account called Embark Checking. This account requires a $25 minimum deposit. If you opt for eStatements, you can avoid the $3 monthly fee.
If you want paper statements, they come with a $3 monthly fee. Customers can also sign up for the fee-free Grow Savings Account and enjoy monthly $10 in ATM fee rebates.
An average balance of $2,500 or more is required to qualify for this benefit. Umpqua Bank has an extensive presence, boasting 64 branches in Washington.
The bank’s product lineup includes two money market accounts, three checking accounts, and a simple savings account. While the CD rates offered may be lower than expected, Umpqua Bank’s strengths lie in its regional presence.
12. Washington Federal
A Free Checking Account from Washington Federal comes with basic features. This no-frills account has no monthly fee if you sign up for direct deposit and eStatements.
There are no minimum balance requirements associated with this free checking account. Account holders can access online bill pay, peer-to-peer payments, and over 32,000 ATMs.
13. Wheatland Bank
Wheatland Bank offers two distinct checking account options: Gold Checking and Free-Range Checking. With Free-Range Checking, customers enjoy a fee-free account.
This account also has complimentary online banking featuring bill pay functionality and a free Visa debit card. You can also get up to $10 in non-Wheatland ATM fee reimbursements.
You can use the debit card associated with this account an unlimited number of times each month. In addition, the first box of checks is provided free of charge.
Wheatland Bank extends its services to various locations, including:
- Chelan
- Davenport
- Ellensburg
- Moses Lake
- Odessa
- Pasco
- Quincy
- Ritzville
- Spokane
- Wenatchee
- Wilbur
- Yakima
You must make a $100 minimum deposit to open an account.
14. American Lake Credit Union
American Lake Credit Union offers the best checking accounts to those living in Washington state, but a membership application is a prerequisite for opening an account. Washington residents can easily open a shared savings account with a $5 minimum deposit.
This credit union offers several checking account options, including:
- Compass Checking
- Regular Checking
- Budget Checking
- Money Plus Checking
Compass Checking stands out as it is free with no minimum balance requirements when opting for eStatements. Customers enjoy convenient 24/7 access to online and mobile banking.
These accounts also come with a complimentary Visa debit card and various overdraft protection choices. With access to over 30,000 ATMs and 5,600 co-op shared branches, American Lake Credit Union ensures convenient access to its services.
American Lake Credit Union has locations in Tacoma and Lakewood. It’s a stand-out credit union in Washington state.
Banner Bank offers the Connected Checking account, which requires a $50 minimum deposit. The account has no monthly fees, even for those who prefer paper statements.
A unique feature of this account is the ATM fee reimbursement policy. Under this policy, Banner Bank covers up to four charges each month.
There’s no minimum balance requirement to unlock these benefits. Banner Bank provides overdraft protection, peer-to-peer payments, and online bill pay services for added convenience.
With 74 branches across Washington, the bank is well-regarded for its exceptional customer service. Clients can also rely on their 24/7 automated phone system for support.
Banner Bank offers CDs for those looking to grow their savings. Many Washington residents continue to rely on Banner Bank for their banking needs.
17. Wells Fargo
In Washington, Wells Fargo is a trusted banking partner with branches and ATMs in Seattle, Spokane, Tacoma, and beyond.
The Everyday Checking account provides a $325 bonus for new customers who open an account with $25 and set up $1,000 in qualifying direct deposits within 90 days.
Known for its secure mobile banking tools and 24/7 fraud protection, Wells Fargo makes managing your finances simple. The $15 monthly fee is waivable with qualifying activities, making it an affordable and reliable choice for residents of the Evergreen State.
FAQs
Some of Washington’s best banks and credit unions include Washington Federal, Mountain West Bank, and Umpqua Bank. Many offer some of the best bank account bonuses that aren’t necessarily monetary sign-up bonuses.
Opening a bank account in Washington requires identification, a Social Security number, proof of your mailing address, and an initial deposit. Most credit unions require a $5 deposit to open a share account, but some banks waive the initial deposit requirement.
SoFi, Mountain West Bank, Wheatland Bank, Salal Credit Union, MountainCrest Credit Union, and HomeStreet Bank offer free checking accounts. You can also find free accounts at American Lake Credit Union and Great Northwestern Federal Credit Union.
Saving Green in the Evergreen State
Whether you visit Washington for the coffee, wine, or scenery, this northern state has much to offer. It’s also home to Boeing and a thriving aerospace industry.
You might not know that Washington offers residents access to some of the best banks available. These banks provide several financial products and services that support our daily lives.
We hope this article helps you find a bank in Washington that you can trust. With the best banks, you can set your financial worries aside to focus on the more beautiful aspects of nature.
Which of the best banks in Washington will you pick?