Discover The Top 5 Best Banks in Colorado for All Your Financial Needs

Unsure which institution to bank with in Colorado? You’ve landed in the right place. We break down the 5 best banks in Colorado to choose from, including local and national options.

Updated February 2024
Fact checked by Cathy Gresham
Image of a bank overlayed with the shape of the state of Colorado and the Colorado state flag

Are you looking for a bank in Colorado? In that case, you should know which ones are your best options. After all, you want to make sure that the interest rates, ease of access, and perks are as good as possible.

There are 100+ different banking institutions in the state of Colorado. That’s a lot to choose from, and finding the best requires a lot of research.

We’ve made a list of the 5 best banks in Colorado to save you the time and effort of comparing all the banks in the state. Just choose your preferred bank based on the features and perks listed below and start the process of setting up your account today!

Assessing Banks In The State of Colorado

  • Customer Convenience. It probably goes without saying that a good bank should be easy for customers to work with. One of the best signs that a bank is designed to be customer-friendly is an online banking system, perhaps including a mobile banking app, so that customers don’t have to visit their bank in person for basic financial management tasks.
  • Rates on Deposit Accounts & Lending Products. At the most fundamental level, banks compete on rates. Often, banks will pick a product or two to really compete on and offer substantially above (deposit side) or below (lending side) rates to attract and retain customers. If you want your money to grow, you should prioritize banks with competitive interest rates. Bear in mind that interest rates change over time and that some banks will offer tiered interest rates.
  • Low or No Fees. Additional service fees can be a drain on your finances, so look for a bank that keeps these to a minimum. Some banks in Colorado will waive monthly fees in certain situations, while others provide accounts that have no overdraft fees.
  • Community Benefits. Banking with local and community banks is a great way to help support your community and other communities around the country. For example, some banks donate a percentage of revenue from accounts to worthy causes, whereas others support local companies and events.
Facts about the commercial banking industry in Colorado

The 5 Best Banks In Colorado

1. Bank Of Colorado

The Bank of Colorado is an excellent choice of a banking institution for individuals and businesses alike, but if you’re the owner of a small business, this should definitely be your top choice. Its business-friendly focus makes it easily one of our top picks for the best banks for small business in Colorado. 

This bank has been established for a long time, since 1938, and there are 42 branches across the state of Colorado.

This might not sound like a lot for one of Colorado’s oldest banks, but the good news is that you can also use affiliate branches in other states such as New Mexico and Arizona. The bank is involved in the community, supporting local events and organizations.

You can set up a checking account with the Bank of Colorado for free. No minimum balance is imposed, and you won’t have to pay anything monthly.

However, your other options include incredible the Growth Checking Account, the Interest Checking Account, and above all, the Business Growth Account.

While it’s true that the Bank of Colorado might not have the best interest rates in the state, they also aren’t particularly low comparatively, so unless high-interest rates on savings are your priority, you should consider baking with this establishment.

2. Chase Bank

Chase Bank should be on your radar of the best banks in Colorado, especially if you want to bank somewhere that offers a lot of perks.

Not only is Chase Bank the largest banking institution in the state, but with 104 Colorado-based branches, you can easily get to your bank in person if you need to. You can also use the many Chase Bank ATMs found all over the US.

Chase’s deposit side interest rates are not especially competitive. However, hear us out, because there are other reasons why we’ve listed Chase Bank as one of the best in Colorado.

Chase Bank has great options for credit cards with a wide selection to choose from. In a time when people are increasingly looking for good credit options, this is invaluable.

The Sapphire Preferred card, for example, is a popular option with customers who travel a lot, and the Freedom Unlimited doesn’t place a limit on your cashback.

Mobile deposits made with Chase Bank are usually available the following day, so banking with Chase is easy and convenient.

As a full-service bank, offering products all the way up to ultra-high-net-worth individuals, you can also grow with Chase as far as you need to. 

3. Wells Fargo

Wells Fargo probably needs no introduction, as it’s one of the most well-known banks in the United States and statistically the most popular and largest bank in Colorado.

If you like to go into brick-and-mortar banks in person to deal with your financial business, Wells Fargo is an excellent choice because there are over 140 branches of this bank in Colorado, spread across over 50 cities.

Not only can you choose from a range of bank accounts when you set up an account with Wells Fargo, but you can also apply for a personal loan, choose from various credit cards, and use wealth management and investment services.

Wells Fargo has a highly-rated mobile app that allows you to manage your finances from anywhere, at any time.

Whereas a lot of banking apps experience frequent glitches and result in calls to customer service, Wells Fargo customers report being highly satisfied with the services available and the functionality of the app.

If you’re worried about excessive banking service fees draining your funds, Wells Fargo may also be a good option for you. If you open up a Clear Access checking account, for example, you won’t be charged any overdraft fees, which can be a weight off your shoulders if finances are tight.

Because of how large Wells Fargo is as an institution, it’s much easier to continue accessing your money even when you’re abroad, which is a major reason why people who travel a lot tend to choose this bank.

Man and woman walking along a lake in Colorado

4. Alpine Bank

Alpine Bank might not be one of the larger banking institutions in Colorado, with just 39 branches spread across 28 cities (Alpine Bank also serve Denver, and to find more Denver banks, read here). However, it is a locally-owned community bank, which means it’s a great establishment to bank with if you want to prioritize banks that serve the local community.

Plus, physical accessibility is not everything when it comes to banking, especially considering the fact that Alpine Bank makes banking so easy with its online banking services.

What Alpine Bank may lack in terms of physical locations, it makes up for with easily accessible bank accounts and an excellent online banking platform.

You can access the online banking services on your web browser, or via the Alpine Bank app. This allows you to review your transactions, pay your bills, transfer between accounts, and much more.

Additionally, while finding an Alpine Bank branch might not be the easiest task, finding a compatible Allpoint ATM couldn’t be easier, since there are over 40,000 of these in Colorado.

Where Alpine Bank truly shines, though, is in its land loans service. Alpine Bank can help you invest in property and land, which is a high-demand service in such a large state.

5. Bank Of The West (update: now merged with BMO)

Bank of the West operates 72 branches in Colorado. While it doesn’t offer competitive interest rates on savings, it’s a good option if you want to open a basic bank account and don’t want to be faced with huge, un-waivable fees for basic services and requests.

With a low minimum deposit and monthly fees that you can waive by simply making one deposit per month into your account, Bank of the West is one of the most affordable banks you can choose in Colorado.

For example, as long as you deposit at least a cent into your Any Deposit Checking account each month, you don’t have to pay anything.

Alternatively, you can get a Premier Checking account that comes with a monthly service charge of $25, but as long as you keep a minimum of $25,000 combined across your accounts, that fee can be waived.

If you open a Choice Money Market account with Bank of the West, you can benefit from tiered interest rates that compete with other local banks.

Something else we love about Bank of the West is that they offer an eco-friendly checking account where 1% of the revenue is donated to environmental causes, and there’s no monthly fee as long as you make a monthly deposit.

One drawback to watch out for though is that they are known for poor customer service. So if that’s important to you, you may want to look elsewhere. However, if you’re a banking DIYer, this can still be a solid option. 


Final Thoughts: Which Is The Best Bank In Colorado?

Whether you want a bank that won’t charge you anything per month, somewhere that will help you take out a loan, or somewhere with competitive interest rates, one of our 5 best banks in Colorado will work out for you.

In Colorado, you can choose whether you want to bank with a local, community establishment, or whether you’d prefer to bank with a national bank.

The former may provide a more customer-focused experience and support your local community, whereas the latter often provides more accessibility and better mobile banking options.

Be sure to check where your nearest branch would be, and if possible, visit it in person before deciding on a bank. It’s also worth taking note of the online and mobile banking options, particularly if your nearest branch is far away.

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.

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John Wayman

John Wayman


John has always been fascinated by money, wealth, and investing. He got a front row seat into how Ultra High Net Worth individuals, families, and entities manage their money while working for years in Goldman Sachs’ Private Bank. 

He learned a great deal about personal finance and wealth management from some of the most experienced professionals in the industry.

Now he enjoys helping all kinds of people grow their wealth and achieve their financial goals.

When he’s not advising clients, Cody enjoys playing golf and spending time with family and friends.