If you are deciding which of these banks as your financial institution, you have five banks in the US.
If you are looking to lead a life that is financially secure it is essential to be acquainted with the banks that are in your local area. They aren’t just a location to keep your cash secure, but also the location to make an application to get credit cards, take loans, and pay your bills. It is essential familiar with the banks to be able to decide which one is the best for you.
The amount of US banks has risen significantly in the years since the Great Recession in 2009. The assets of the top 15 US banks amount to over $13.44 trillion, which includes securities, loans reserves, and securities. Five banks stand out from the 15 US banks as being the most affluent and most powerful.
Let’s meet them!
JPMorgan Chase & Co.
JPMorgan Chase & Co. Its headquarters are in New York and has branches across the US and is the biggest US bank. The Consumer Banking division of the bank, Chase Bank, has assets of $3.31 trillion, and is growing the market share of Chase Bank.
About half of American are Chase customers. The bank has nearly 5,000 branches and 16,000 ATMs across the US. This helps in attracting new customers.
Bank of America
The the 66 million clients of Bank of America are not only within the US but across the world. They are connected to the bank via digital channels, like an app for mobiles that is versatile.
Bank of America recently announced they would reduce fees for overdrafts and will be eliminating the fee for non-sufficient funds (NSF). The move is to attract new customers. They are the second-largest American bank and have already seen great outcomes. Bank of America now has nearly one trillion dollars in assets than the third largest.
Wells Fargo & Co.
Wells Fargo & Co. is headquartered in San Francisco. It was established in 1852 and is the third-highest-rated institution in the US with assets of $1.78 trillion.
The brand has been rebranded in a process in order to reconnect with customers. Alongside the main application Wells Fargo & Co. is trying to connect with the younger generation with an app that allows savings and a mobile banking app which is geared towards the millennials. To streamline and concentrate on the primary institution They are also looking to shut down its branches.
The fourth-largest American bank has almost as much assets as the third-largest: Citigroup Inc. has around $1.67 trillion. This is mainly because Citigroup Inc. is an international financial institution with more than 1,800 branches across the world.
It has 700 branches across the US and is famous for its retail banking department, Citibank. The majority of them are the number of ATMs available in the US. Citibank has over 65,000 ATMs, which are completely free and are located across the 50 states.
U.S. Bancorp was established in 1863 under the name of First National Bank of Cincinnati. It is among the longest-running U.S. banks. It’s fascinating to consider that throughout the years several financial institutions have joined to form the bank that is today the U.S. Bancorp’s parent company.
U.S. Bancorp owns assets of nearly $564.16 trillion. It is known for its digital offerings that are continually evolving, as well as its vast branch network.