Best Banks In Washington State: Top 8 Banks Worth Your Money and Time

In order to get the best banking experience, you have to start with a rock-solid bank. In this article, we find and list the top 8 banks in Washington state.

Updated February 2024
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Fact checked by Cathy Gresham

Image of a bank overlayed with outline of washington state and washington state flag in the background

Washington State is one of the wealthiest states in the country. Although the state capital is Olympus, many of the residents of Washington live within the Seattle metropolitan area. This is a major hub for business, especially Tech, and transportation.

With so many people living in Washington and the state being so prosperous, having great banking options is a must.

If you live in Washington or have recently moved to the state, you might be looking for a new bank. Anyone starting or running a new business might need a new bank specifically for their business as well.

That’s why we’ve created this list of the best 8 banks in Washington state. Whatever type of bank you’re looking for, there should be a bank here for you.

We’ve picked a variety of regional, national, and online banks for you to choose from.

Let’s get going.

1. Umpqua Bank Embark

If your priority is a good checking account that has plenty of features, then Umpqua is one of the best choices for you. The bank has over 60 branches in Washington, as well as a large number in Oregon and California, and a few in both Idaho and Nevada.

There are several different personal checking accounts available and they can be opened for a small fee. If you opt for paperless statements, there is no cost for these and you will get a complimentary savings account when you open your checking account.

Umpqua also offers a wide range of services for business and commercial customers as well, making it a complete bank for Washington residents.

Best Features

  • Complimentary savings accounts are available
  • 60+ branches in the state
  • Free paperless statements

Best For

  • Complimentary savings accounts with current accounts make them accessible for new savers

2. Banner Bank

Banner Bank is largely located in Washington where it has over 70 branches, but you will also find branches throughout the Northwest in Idaho, Oregon, and California.

This bank has great customer service and always has advisors available, so if you’re the type of customer that likes to talk to someone about your banking instead of relying on online services,

Banner Bank offers a variety of services to both personal and business customers. Personal customers can choose from three different checking accounts as well as a range of loans and credit cards.

Business customers also have a large selection of services to choose from including banking and loans.

Best Features

  • Always available for face-to-face consultations
  • 70+ branches in the state
  • Robust online and mobile banking

Best For

  • Local service and dealing with your bank in person

3. HomeStreet Bank

With over 25 branches throughout Washington state and several in California, Idaho, and even Hawaii, there might be a HomeStreet Bank in your town.

The bank offers a number of personal and business options including checking accounts for students and some with no overdraft fees.

If you have large amounts of money in your checking account, then you will want to check out the Interest Checking account. This is one of the few checking accounts that offer interest but you will need to open the account with a relatively large amount and maintain it to qualify for interest.

Best Features

  • Checking account offers interest on large amounts
  • Good student accounts
  • 20+ branches in the state

Best For

  • Students who struggle to manage their money
Banking in Washington State: Fast Facts

4. WaFd Bank

You will find WaFd Bank branches in eight different states, including over 70 branches in Washington State. The bank offers some of the best interest rates you will find at a bank that has physical branches but there are rules regarding deposits and balances before this interest is payable.

Thankfully, these limits are quite low as you can open a savings account with only a small deposit. You can also get a checking account that has zero maintenance fees and requires no minimum balance.

Their Stellar Plus Checking account will allow you to earn interest on your checking account and also includes the use of a safety deposit box.

Best Features

  • Checking account requires no maintenance fees
  • Stellar Plus Checking account gives interest
  • 70+ branches in the state

Best For

  • Anyone who wants a physical bank with good interest rates

5. 1st Security Bank

1st Security Bank has over 30 locations across Washington State and a handful located in nearby Oregon.

The bank has been in Washington since the 1930s and prides itself on being a community bank so you are sure to receive good service whenever you visit one of the branches.

The bank offers a large number of personal banking services such as checking and savings accounts and credit and debit cards. It is also associated with Central Washington University and offers a number of exclusive deals for staff and alumni.

You will also be able to get your business banking needs met at 1st Security Bank. If you run a local business, you can even join the BaZing program to offer discounts to customers and increase your local sales.

Best Features

  • Community bank associated with Central Washington University
  • Best services for local businesses
  • 30+ branches in the state

Best For

  • Local business banking
Quote on banking for best banks in Washington State

6. Kitsap Bank

This is a smaller regional branch that only has 22 branches across Seattle and some of the western counties of Washington. It was established in 1908 and has been serving the citizens of Washington ever since.

It operates a checking account system where your monthly maintenance payments reduce if your balance remains high, making it a good option for anyone who keeps money in their checking account. The fees on the savings accounts will be completely waived if specific balances are kept.

Best Features

  • Maintenance fees can be reduced or eliminated
  • Good online and mobile banking services
  • 20+ branches in the state

Best For

  • People with higher amounts available and want to waive maintenance fees

7. CIT Bank

This bank is an online bank that is a great choice for any Washington resident that wants to make the most of their savings (if you’re curious about other Banking groups like Stockman Bank, check out our review here). CIT Bank does offer a checking account and home loans, but with no physical branches, we would recommend other banks for those purposes.

Setting up a savings account online with CIT is very easy and you will get some of the best returns for your savings.

Online and mobile banking services are some of the best in the banking industry so you will always be on top of your savings and their progress.

Best Features

  • High-interest rates on savings
  • Easy to set up online
  • Industry-leading online and mobile banking

Best For

  • High-interest savings

8. Chase Bank

Chase is a national bank that is present across the country as it has branches in 25 different states.

It offers a variety of services for both personal and business customers and could become your sole provider for not only checking accounts and saving accounts, but also investments, home loans, insurance, and commercial reasons.

Chase has over 200 branches across the state, making it the bank with the highest number of branches. It has high-quality online and mobile banking that you can take advantage of and is great for saving accounts.

There are also services available for children to start on their own banking journey and teach them about financial responsibility.

 Best Features

  • 200+ branches in the state
  • Good services to start financial planning for children
  • High-quality online and mobile banking

Best For

  • Anyone who wants a national bank that has local services
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Remember to optimize for what's most important to you, you can use multiple banks if needed

In this article, we recommended the 8 best banks in Washington State. We picked a variety of national, online, and regional banks so whatever you’re looking for, there is sure to be a bank here for you.

Although most of the banks we chose offer a variety of different services, they generally have one service that is better than the others.

If you’re looking for a good savings account with a high level of interest, the best bank for you will be different from the best bank for someone looking for a good checking account.

We advise choosing your bank depending on the services you need and also how you want to access the bank. If you want to have the option to speak to someone in person you can immediately discount any banks that are either online or don’t have a branch near you.

If you’re happy with online banking, then some of the best rates can be found with online-only banks.

We hope that this article will help you choose the best bank for you in Washington state.

Sources

Editor's Note:

At Personal Finance Guru, we want to help you maximize your lifestyle through personal finance. You can trust the integrity of our independent financial advice. Our opinions are our own and have not been provided, reviewed, approved, or endorsed by any advertiser or financial product provider. To support and grow the site, however, we may receive compensation from the issuers of some products.

Author bio:

Cody Beecham

Cody Beecham

Founder/Owner/Editor/Author

Cody is the founder and owner of Personal Finance Guru. His day job is as a management consultant at one of the Top 3 firms (think Mckinsey, Bain), where he advises Fortune 500 C-suite clients on their most important and pressing business problems. He completed his business education at Harvard Business School. 

After seeing the lack of personal finance education for regular people, Cody started the website with the mission to provide everyone access to information that will help them achieve their financial goals.

Cody approaches personal finance from a maximalist perspective, shunning typical advice around simply not buying a cup of coffee instead of more effective methods like investing in yourself to quickly grow your income. 

He believes in saving money and investing for the future, but he also knows that you need to enjoy life today. That’s why Cody approaches money with a sense of humor and a positive attitude. He knows that if you’re not having fun while you’re growing your wealth, then what’s the point?

Cody approaches life with the same gusto that he brings to personal finance. He loves to travel and experience new cultures, and he is an avid reader and learner. He also enjoys playing sports (especially tennis) and spending time with his family and friends.