There are a lot of different banking companies out there, and it can be overwhelming to decide which bank is the right one for you. Opening a bank account is a really important decision, one that you shouldn’t make without doing your due diligence and research.

We’re here to help by providing a short list of some of the most top-rated and trusted banks across Texas. Hopefully by the end of the article, you will have a better idea of what bank you should open an account with.

Before we start going over the list, we should clarify that the only type of banks that we will be discussing are retail banks. These are the types of banks for personal accounts, and not institutional banks such as this one.

With that out of the way, let’s go over our list of the three best banks in Texas for 2023.

  1. Ally bank

Ally bank is the best bank for opening a savings account according to this guide by businessinsider. There is a $0 minimum deposit amount, along with a very solid 3.3% annual percentage yield on your savings. In addition to that, there are no monthly fees!

If you’re looking to just sit on some cash and not pay fees on it, then Ally bank may be the bank for you. It also has 24/7 customer support online, making it a very hassle-free banking solution!

However, one thing to keep in mind with Ally bank is that you cannot deposit cash directly into your Ally account. While your card will work for ATM withdrawals, you will need to have an additional bank account to transfer money to your Ally account.

  • First National Bank of Texas

The First National Bank of Texas comes in at number two on our list for its perks for small business owners. If you happen to own a small business, then you can do your retail banking and commercial banking all in one place with this bank!

Some cons to the bank are the small number of ATMs and branches across the state. There are 300 ATMs and branches across the state, making it fall pretty short of some of the leaders in the state.

However, it still ranks second on our list for their great choice of accounts, low fees, and incredible customer service.

  • Frost Bank

If you want the best customer service around, however, you’ll want to open up an account with Frost Bank. According to bankbonus’s article on Texan banks, Frost Bank has repeatedly been shown to have the best customer service in surveys done by J.D. Power and Pew Charitable Trusts.

Frost Bank has an $8 monthly fee, but don’t let that dissuade you from using their services. You can easily wave the fee if you:

  • $100 monthly direct deposit
  • Have a balance of $1,000 or greater
  • Balance of $5,000 across all accounts
  • Account owner is under 25 years old

In addition to the ease of waving the monthly fee, Frost Bank has annual percentage yield returns greater than that of banks like Chase, Bank of America, and Wells Fargo.

Keep in mind that you should do further research before making the all-important decision because choosing which bank to open an account with could seriously impact your finances.