Bank Products Rating Methodology

With over 4,500 federally insured banks in the United States — each with a variety of different accounts and products to choose from — it’s no small feat to choose a bank. We strive to provide accurate and objective information to help you choose the right bank for you. Per our editorial guidelines, we rate and review all banks and banking products independently, with no influence from financial institutions or advertisers. Additionally, our ratings and review team operates independently from the newsroom.

We reviewed dozens of nationally available banks and assessed them on quantifiable comparisons of fees, rates (such as APYs, or annual percentage yields), interest rates, branch availability (for brick-and-mortar banks), ATM networks, ATM fees, minimum balance requirements, minimum deposits to open an account, and accounts bonuses. We also factored in analysis of a bank’s customer service, factoring in Better Business Bureau ratings, Trustpilot ratings, and app ratings on both the Apple App Store and the Google Play Store. 

From there, we give each bank and specific banking product a score between one and five stars (with five stars being the best score). We review our ratings and scores quarterly to ensure you’re getting the latest analysis of a particular bank’s strengths and weaknesses.

• Variety of products offered
• Monthly fees
• ATM access and any ATM fees
• Interest rates
• Minimum balance requirements
• Minimum deposits to open an account
• Customer service offerings and ratings
• Overdraft fees and services
• Access to branch network

• Monthly fees
• Annual percentage yields
• Minimum deposit requirements
• Minimum balance requirements
• Sign-up bonuses or other special offers/features
• Customer service offerings and ratings

The top factors we look at when assessing the best checking accounts are:

• Monthly fees
• ATM access and any ATM fees
• Annual percentage yields
• Minimum balance requirements
• Minimum deposits to open an account
• Customer service offerings and ratings
• Overdraft fees and services
• Access to branch network

The top factors we look at when assessing certificates of deposit are:

• 1-year CD rate
• 3-year CD rate
• 5-year CD rate
• Minimum opening deposit
• Any special offerings (such as no-penalty or step-up CDs)
• Customer service offerings and ratings

We are a team of journalists and researchers who are dedicated to helping you find the right answers to all of your most important home and personal finance questions. We operate independently from Hearst newsrooms.

Our mission is to make pivotal decisions easy. We are dedicated to breaking down complicated topics in ways everyone can understand. Our advice is rooted in deep research, but is always approachable and practical — we want to save you time and money by giving you straightforward answers to big questions. Ultimately, our goal is to empower you to make confident decisions about your home, money, and happiness.

We are trustworthy: We strive to be fair and honest. We will always disclose our selection methodology and how we make money.​

We are savvy: Our content is smart and practical — we save you time and money by giving you straightforward answers to big questions.​

We are approachable: We break down complicated topics and decisions in ways everyone can understand.​​

We are rooted in service: Our content empowers readers to make confident decisions for their money, homes, and more. 

We make independent decisions about what we cover and recommend. Some of the products featured on this page are from companies that compensate us. This compensation may influence how and where these products appear on the page, such as the order in which they appear in a comparison table, list or advertisement, but it does not influence our editorial choices on what we write about a company or product, or whether to include or exclude any company or product from our editorial content. You may also see traditional advertising on our site, which will be clearly labeled. This site does not include all card companies or all card offers available in the marketplace. Terms Apply.

All articles are prepared by staff and contributors. Opinions expressed therein are solely those of the ratings and reviews editorial team and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in this article is accurate as of the date of the publish. Check the lender’s website for the most current information. We operate independently from Hearst newsrooms.