9 Best Banks in Maryland - A Complete 2024 Guide (2024)

Can I find small local banks in Maryland? Does it have an excellent banking system? Maryland has a population of over 5.5 million, and often, most call it a Little America and Old Line. To give complete financial safety to the residents, Maryland offers everything a person or relocator wants, including the best banking systems.

Table of Contents

Maryland is blessed with a sound banking system and more promising banking services. So, let’s take a look at the best banks in Maryland.

What is the number 1 bank in America?

According to a recent report by Inside Intelligence, JP Morgan’s Chase Bank is the number one bank in America, with total assets of $2.87 trillion. It is the largest bank in America, with 4,700 physical identities in the US. It allows their customers to use mobile banking as well.

Which is the best bank to open your account?

Heritage Bank is one of the best choices to open bank accounts in the US and Maryland. It offers higher interest rates to its customers, providing higher ATM facilities, MasterCard, digital banking, online bill payments, and much more. Also, it allows you to complete foreign transactions.

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Top 9 Banks in Maryland

We have gone through the multiple aspects and researched hundreds of small to largest banks in Maryland for your help. Therefore, you don’t need additional research as we have provided the whole and sole information here. So, let’s take a quick view from the following table and then move on to the banks.

Top Banks in MarylandAccounts FacilitiesAnnual Percentage YieldsMinimum Deposits
Bank of AmericaAll Accounts0.01% & 0.04%$25 & $100
BB & T BankAll Accounts0.01%$100
M & T BankAll Accounts0.02%$500
TD BankAll Accounts0.05%$0
SunTrust BankAll Accounts0.01%$500
Ally BankAll Accounts3.00% on saving accounts$0
CITAll Accounts0.01%$100
PNC BankAll Accounts0.02%$25
Wells Fargo BankAll Accounts3.20% Annual$500

1. Bank Of America Maryland

Bank of America is one of Maryland’s biggest banks, with multiple branches throughout the state. Also, it has the state’s most significant market share and economic impacts and helps operate different business activities. It offers a variety of lending options along with several account opening options. Similarly, the mobile banking experience is flawless.

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You can quickly deposit a minimum of $25 in this bank for the low-tier accounts and $100 for the rest. It is best known for being the leading financial institution in the world and offers significant advantages to its customers. This excellent bank is situated at 2530 North Charles St, Baltimore, Maryland – 21218.

You can contact them at 800-432-1000 to deposit accounts and access banking services.

How do I contact Bank of America customer service in Maryland?

Bank of America has started a customer service phone number (800-732-9194) where you can contact them. Their banking representatives are available from Monday to Friday, 8 am to 9 pm. Similarly, they are available on weekends, like Saturday from 8 am to 8 pm and Sunday from 8 am to 5 pm.

What city has Bank of America in Maryland?

Baltimore, Oxon Hill, Hillcrest Heights, Hyattsville, College Park, Ellicott City, Riverdale, and other major cities have their branches.

2. BB & T Bank in Maryland

If you explore Maryland to Florida for banking solutions, BB & T is one of the best banks you can rely on. It is recognized as the Branch Banking and Trust Company, which Alpheus Branch and Thomas Jefferson Hardley started in the post-Civil War period in 1872.

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With over 160 branch offices, BB & T is the best pick for opening your bank account. They also work virtually and offer virtual services to their customers. According to the BB & T Bank review from Investopedia, 2022, it allows you to open an account with a minimum balance of $100. It is best known for handling small businesses, commercial clients, and other financial services.

BB & T Bank has many branches. However, the best branch is at 13350 New Hampshire Avenue, Silver Springs, MD. You can contact them by dialing (301) 384-9601 and talking with their banking representatives, present at silver springs.

Which bank is better Wells Fargo or BB&T in Maryland?

BB&T works predominantly in Finance and Sales departments, possessing tremendous experience in their respective fields. Similarly, Wells Fargo is another experienced holder working in Finance and HR. However, BB&T provides excellent customer service to every new joiner or existing customer.

Is SunTrust and BB&T the same bank?

Yes! In 2019, these banks merged and created Truist Bank, which offers various products, saving accounts, certificate deposits, and much more.

3. M&T Bank in Maryland

The bank’s headquarters is in New York, started in 1856. Currently, it has 780 branches in the US, most of which are in Maryland and New York. Manufacturers and traders Trust Company, mainly referred to as M&T Bank and is one of the largest banks in Maryland. They provide money-saving products to their customers.

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You can quickly deposit and manage a minimum balance of $500, offering insurance and saving options too. With economical and easy-to-use facilities, this bank is the best to manage the most convenient savings accounts. It is situated at 12 office street, Bel Air County, MD 21014. You can contact them at (410) 836-5783.

Is M&T only in Maryland?

No! M&T Bank serves significant parts of the US, including Pennsylvania, New York, Delaware, Connecticut, Vermont, Virginia, W. Virginia, Maryland, and more.

How much branches does M&T bank have in Maryland?

With a total of 377 branches and ATM services, M&T Bank serves the entire state and its different cities or towns.

Is M&T Bank part of Bank of America?

No! Bank of America doesn’t involve the working culture of M&T Bank. In fact, M&T Bank and Bank of America both have different working cultures.

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4. TD Bank in Maryland

It is a banking financial services industry headquartered in New Jersey, US. However, it serves 1,158 locations and is known as the 11th largest bank in the US. Commonly referred to as The Toronto-Dominion Bank, which has a variety of banking, investment, and insurance products. The best thing is that it doesn’t have a minimum deposit limit.

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But you need $2,000 for the specific privileges if you want any promotional offers. This giant financial bank has different branches in Maryland that offer complete services and facilities to the customers and helps you with high-yield returns. Plus, customer satisfaction is prioritized in this one of the largest banks in Maryland.

Most cities in Maryland state have TD banks, and the best branch is at 3603 Boston St, Baltimore, MD 21224. You can contact them at (410)-522-2390.

Are there TD Banks in Ocean City Maryland?

Yes! It is located at 5900 Coastal Highway, Ocean City, MD 21842. It operates from Monday to Saturday.

Who is TD Bank affiliated with?

It is popularly known as a component of TD Bank Group and Toronto-Dominion Bank of Toronto’s subordinate in Canada.

5. SunTrust Bank in Maryland

It offers several banking products like a commercial, mortgage, loans, small business, wealth, online & mobile, and credit cards, and the list is quite long. Things to know before moving to Maryland include knowing banks in the states. Therefore, SunTrust is another excellent pick for you to shift your transactions and rely on the banking culture.

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Once you know their working culture, you can move, manage, and save money effortlessly. However, you must maintain the $500 to avoid monthly maintenance penalties. This bank is best for its insurance products that are completely helpful to the customers to get better insurance policies. SunTrust has a good branch at 7788 Riverdale Road, New Carrollton, MD – 20784.

Contact them at (301)-955-3832.

Which city have SunTrust Banks In Maryland?

SunTrust banks have many branches over Maryland’s different cities. It includes Ocean City, Baltimore, Severna Park, Bethesda, Bel Air, Forestville, Glen Burnie, Silver Spring, etc.

Is SunTrust and BB&T the same bank?

Yes! On February 19, these two banks merged to create Truist Bank. Existing customers must exchange their current debit and credit cards for new ones.

6. Ally Bank in Maryland

It was awarded as “Best Internet Bank in 2017,” which has over $146 billion in deposits and offers 24/7 customer support with high-yield CDs. If you ask us why is Maryland a good place to live, the banking system will surely be one of the best reasons. It has trusted Ally Bank for the entire population in Maryland to safeguard its deposits with modern facilities.

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It doesn’t have a limit on your minimum deposit and offers you 3.0% APY on Virtual Savings Accounts. It is best for online mobile banking operators, offering excellent customer services and higher APY without fees or minimums. Maryland doesn’t have any branches as it is a fully online-operated bank.

However, the headquarter is at 200 West Civic Center, Dr. Sandy, UT 84070, and 500 Woodward Avenue, Detroit, Michigan. Contact them at (877) 247-2559.

Is Ally Bank a state bank?

Yes! In 2016, the Federal Reserve approved Ally Bank to be counted as a state bank, which the Federal Reserve’s Board of Governors then operates.

Where is Ally Bank located in Maryland?

There is no physical existence of Ally Bank in Maryland. However, you can efficiently operate it through online sources.

What bank is associated with Ally Bank?

No bank is associated with Ally Bank because it offers online banking activities to its customers.

7. CIT Bank in Maryland

It was established on 19th March 2009 and is insured by the Federal Deposit Insurance Corporation (FDIC). This is another mobile-banking-based option for you to operate in Maryland. The bank offers high-yield savings and other benefits to the customers.

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You can only deposit a minimum of $100 with this bank, which doesn’t charge you monthly fees and offers the best APYs. This bank is the best option for premier high-yield saving accounts, significant CD periods, money market accounts, and more. A corporate headquarter is situated at 95 South Lake Avenue, Pasadena, California.

However, Maryland doesn’t have any branches of CIT banks as it is a fully online-optimized bank.You can reach out to them at (626) 535-4870.

Is CIT Bank a legitimate bank?

Yes! This bank has legitimate recognition and is certified by FDIC (certification number – 58978). Similarly, the government interferes in this bank to take care of your deposits.

Is CIT bank and Citibank the same?

No! It is different from the group of Citibanks in the states, and you can see the roots of this bank with a company formed in 1908.

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8. PNC Bank in Maryland

PNC was formed by merging Pittsburgh National Corporation and Provident National Corporation, which merged in 1983. It is one of the most straightforward technological suits that operates in Maryland and provides overdraft protections to customers. Similarly, the minimum deposit is only $25 with an 0.01% APY on saving accounts.

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It offers a wealth of digital features to customers. It is ultimately an excellent pick for tech-focused individuals who want to operate their banking functions online within a few moments. Further, you will find some best spas in Maryland for couples near this PNC bank if you want to plan a couple of spa sessions after completing banking tasks.

Presently, it is situated at 4941 Campbell Blvd, Baltimore, MD 21263.You can contact them at (410) 931-6930.

Is PNC closing branches in Maryland?

Yes! PNC banks have decided to close 135 in-store branches in Maryland. However, a few branches are open and offering better banking facilities to customers.

Is PNC Bank and US Bank the same?

No! Both banks are distinguishable due to their dissimilar benefits. However, both banks offer mobile banking services to their customers.

9. Wells Fargo in Maryland

Maryland banks list is quite long, and Wells Fargo is one of the oldest banks. It was founded in 1929 in Minneapolis, Minnesota, by Henry Wells and William Fargo. It is one of the largest banks in the US and ranks in Fortune 500 rankings. Residents, as well as undergraduate students, can apply for personal and educational loans, respectively.

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You must maintain a minimum physical daily balance of $500 in the banks. It is best for offering local branch access and online banking services to its customers and undergraduate students with loan facilities. It is situated at 1418 Martin BLVD, Baltimore, MD – 21220. You can contact them at (410) 687-5678.

Does Maryland have Wells Fargo?

Yes! Many branches of Wells Fargo are established in Maryland’s major cities, including Baltimore, Riverdale Park, Takoma Park, and more.

What banks does Wells Fargo affiliated with?

Bank of America, Wells Fargo, JP Morgan Chase, and Citigroup are the major Four Banks in the US.

Best Banks in Maryland FAQs

What banks are there in Maryland?

You can explore the extensive list of banks in Maryland, which starts from Truist Bank, Bank of America, TD Bank, United Bank, PNC Bank, Wells Fargo, and more.

Should I keep all my money in one bank in Maryland?

Yes! It is considered a safe move and becomes convenient to spend on things you want. Similarly, keeping all your money in one bank can give you higher interest rates.

Do too many bank accounts hurt your credit?

No! It doesn’t hurt your credit scores. When you start spending your money, credit agencies won’t understand it. Thus, having multiple banking accounts for credit will never hurt you.

Conclusion

So, this is what we have in our best banks in Maryland article. If you are moving to Maryland, knowing the entire list of best banks in Maryland is important. Therefore, to choose convenient and fast banking functions, most people choose mobile banking as these are faster and safe services.

However, in this article, you will find plenty of options for your mobile banking and banks’ physical identity. These provide better customer services, high yields, and other customer benefits. In addition, you will need a minimum balance of zero to maintain a monthly balance. These are our best picks; however, you can find the other banks in Maryland.

So, before you open accounts, take a look at these banks and then make a decision.

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9 Best Banks in Maryland - A Complete 2024 Guide (2024)
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