Roundup of Bank Reviews from 2022

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In 2022, there are more banks — or financial institutions that act like banks but technically aren’t — than ever. Brick-and-mortar banks where you can go inside and say howdy to a teller are still plentiful, but the visitors inside are fewer and fewer every year.

The digital sphere is now filled with online-only money management options that include actual banks, neobanks, fintech firms and investment platforms that offer banking services.

The following roundup of bank reviews from The Penny Hoarder will help you decide which institution fits your savings, checking and even loan needs for 2022. We have studied and compared their fees, interest rates, customer service, app efficiency and other offerings that make them stand out.

Brick-and-Mortar Banks

The largest banks in America still have physical locations plus offer a full menu of online services.

Their advantage is that they offer everything from multiple savings and checking accounts to loans, CDs and more. But they are less nimble and charge fees — for out-of-network ATM use for example — that some of the newer banking options don’t .

In late 2021, Capital One announced that it was eliminating all overdraft fees and in January 2022, Bank of America and Wells Fargo said they planned to lessen the bite they take from clients who overdraw their accounts.

Here are The Penny Hoarder’s 2022 reviews of brick-and-mortar banking options:

Bank of America

Bank of America is the nation’s second-largest bank (Chase is No. 1) and offers a lot of options, including multiple checking and savings accounts, plus financial advisors, CDs, loans and more. Where it falters is high fees and lack of access to free ATMs. BofA has 4,212 branches across 37 states.

Rating: 3.5 out of 5 stars
Bank of America review

Capital One

Capital One’s suite of banking services includes the fee-free 360 ​​brand checking and savings accounts. There is wide branch access in big cities, and it has special…

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