LOS ANGELES, Jan. 8, 2019 /PRNewswire/ -- Knowing your options is crucial to any decision, especially when choosing the institution that will manage your hard-earned money.
For the seventh consecutive year, personal finance site GOBankingRates enlisted its team of in-house researchers to determine the best banks in five essential categories. If you are looking to explore your banking options in 2019, consider these rankings:
For more details on methodologies and to view the full rankings, visit: GOBankingRates.com/best-banks.
Best Savings Account: Sallie Mae Bank
Sallie Mae's High-Yield Savings account is No. 1 for 2019. The account offers no monthly fees, requires no minimum balance and boasts a competitive APY.
Compare: 10 Best Savings Accounts of 2019
Best Checking Account: Axos Bank
Axos Bank's Rewards Checking account is the best in its category for its high APY, no minimum balance, no overdraft fees and unlimited ATM fee rebates domestically.
Compare: 10 Best Checking Accounts of 2019
Best CD Account: Barclays Bank Delaware
The award for GOBankingRates' No. 1 CD Account of 2019 goes to Barclays Bank Delaware. It's one of only three banks that offer a $0 minimum to open an account, and has some of the best rates for both its one-year and five-year terms accounts.
Compare: 10 Best CD Accounts of 2019
Best Online Bank: Ally Bank
Ally Bank has once again been named the Best Online Bank for your money. This is the fifth year the bank has ranked first in this category based on its exceptional customer service, low costs and high APY rates.
Compare: 10 Best Online Banks of 2019
Best National Bank: TD Bank
TD Bank is one of America's largest banks, and yet it still manages to "bank human." For the third consecutive year, TD Bank takes the title of the Best National Bank, offering the full spectrum of services and benefits you'd expect from a big bank, with the quality and human touch of a smaller one.
Compare: 10 Best National Banks of 2019
Bank with the Best: Commentary from GOBankingRates
"Choosing a bank is something every American knows they need to do, but it can be a daunting task. There's a lot to consider: APY, fees, accessibility in person and online, and so many other factors," said Laira Martin, lead editor on GOBankingRates' 2019 Best Banks rankings.
"What ends up happening is people just stick to whatever bank their parent chose for them when they were young, which is a big mistake," Martin said. "There's been a phenomenal movement in banking to do better over the last decade. You can actually earn generous interest on your savings, pay no fees and access your money from anywhere at any time — if you know which bank is best."
"For the last seven years, GOBankingRates has done the extensive research for our readers to make choosing a bank easier," Martin added. "Whether you're looking for an online bank, national bank or just need a new savings or checking account, Best Banks has you covered. Our rankings are entirely objective and are a result of hundreds of hours of work from our in-house research and editorial teams. If you truly want to live richer, it's critical you bank with the best and settle for nothing less."
GOBankingRates.com is a personal finance news and features website dedicated to helping visitors live a richer life. From tips on saving money, to investing for retirement or finding a good interest rate, GOBankingRates helps turn financial goals into milestones and money dreams into realities. Its content is regularly featured on top-tier media outlets, including MSN, MONEY, AOL Finance, CBS MoneyWatch, Business Insider and dozens of others. GOBankingRates specializes in connecting consumers with the financial institutions and products that best match their needs. Start your journey toward a rich mind and full wallet with us at GOBankingRates.com.
Christine Kayayan, Media Relations