New Hampshire is rich in culture and history, but it’s also packed with businesses and families. Finding the right bank can be essential to achieving your financial goals. Whether you’re setting up a new checking account or considering changing banks, there are a few things to consider.
10 Best Banks in New Hampshire
New Hampshire is packed with great banks, each with its own benefits. Your first priority should be verifying that a bank is insured by the Federal Deposit Insurance Corporation. Once you’ve checked that box, you can look for features like the minimum balance required for free checking or competitive rates on savings accounts and auto loans. Below are some of the top banks in New Hampshire.
1. TD Bank
TD Bank is one of the biggest national banks with branch locations in New Hampshire. You’ll find 1,100 branches and 2,600 ATMs spread across the East Coast, including 58 in New Hampshire. If in-person banking is your priority, TD can compete with even the best local bank, thanks to its extended hours.
One of the standout features of TD Bank is its debit card replacement program. If you lose your card, you can typically get a replacement card at a local branch the next day. Some locations even offer curbside service for picking up your new card.
Pros:
- Plenty of branches and ATMs in the service area
- $200 bonus for new checking accounts with qualifying direct deposit
- Next-day replacement of lost debit card
Cons:
- $100 daily balance to waive monthly maintenance fees on checking accounts
- Not all states have TD Bank ATMs
- Savings accounts have lower-than-average interest rates
2. Chime
Chime is an online banking option with competitive offerings. The checking account comes with no monthly fees or minimum balances, and you’ll get overdraft coverage of up to $200 if you have qualifying direct deposit set up. The savings account offers an interest rate of 2.00% APY, which is lower than some online bank competitors but higher than what you’ll find with many national and local banks.
Like many online-only bank accounts, though, you’ll need to think about access to your bank account while traveling. Chime gives you access to cash at more than 60,000 ATMs across the country, but if you occasionally need to deposit cash, Chime might not be the best bank for you.
Pros:
- No minimum balance requirements or monthly fees
- Fee-free ATM withdrawals at more than 60,000 ATMs nationwide
- SpotMe covers up to $200 in overdrafts
Cons:
- No cash deposit options
- Lower interest rates on savings accounts than other online banking options
- Direct deposit required for maximum benefits
3. GO2bank
Online banks have plenty to offer, particularly if mobile banking is your priority. Like other online banking solutions, GO2bank offers the best deal if you’re on direct deposit. You’ll need qualifying electronic deposits and activity to get the highest level of fee-free overdraft protection.
If you’re looking to build credit, GO2bank offers a secured credit card. There’s no credit check required. You’ll transfer a $100 deposit from your checking account to secure the card and cover your purchases.
Pros:
- No monthly maintenance fee
- Deposit cash at 90,000+ retailers nationwide
- Secured credit card helps you build credit
Cons:
- Direct deposit required to waive monthly service fee
- Balances above $5,000 in savings accounts don’t earn interest
4. Citizens Bank
With more than 1,000 branch locations across the Northeast, as well as 3,000 ATMs, Citizens Bank is a great option if you’re looking for a New Hampshire bank with locations outside the state. Citizens offers free checking accounts to those who have at least one monthly deposit.
Citizens Bank customers have access to fee-free transactions at ATMs within its network, but if you travel outside the service area, it will cost you. Citizens charges a fee in addition to what you’ll pay the third-party ATM owner.
Pros:
- Citizens Virtual Assistant provides access to live tellers at select ATMs
- Early access to direct deposit
- Free checking account as long as you set up direct deposit
Cons:
- Fee-free ATM withdrawals limited to Citizens Bank locations
- Rates on savings accounts and CDs are lower than some competitors
5. Holy Rosary Credit Union
While you’re considering local New Hampshire banks, don’t forget credit unions, which come with plenty of perks of their own. Holy Rosary Credit Union is open to anyone who lives, works, attends school, or worships in New Hampshire or York County, Maine.
Like many credit unions, Holy Rosary offers competitive rates on personal loans and mortgages, so having deposit accounts with the bank can help you save money as you make major purchases over the years.
Another feature typically found with membership-limited financial institutions is higher rates on your balance. Holy Rosary lives up to those expectations with its savings accounts and CDs, but money market accounts and IRAs aren’t quite as competitive as those rates.
Pros:
- Competitive rates on loans
- Access to cash at 30,000+ ATMs nationwide
- Great rates on CDs and savings accounts
Cons:
- Limited branches
- Money market account rates lower than some competitors
6. Bank of America
National banks bring plenty of benefits, including access to cash and branches while traveling. If that’s a priority, Bank of America is one of the largest banks in the country. The impressive app makes activities like mobile check deposit, bill pay, and funds transfers easy.
Another impressive feature is Bank of America’s up to 4.75% annual percentage yield on CDs, which is higher than many traditional banks. Although Bank of America still has an overdraft fee, it dropped from $35 to $10 per transaction last year. You can sign up for Balance Connect overdraft protection, which moves money from your other accounts when you’re overdrawn.
Pros:
- Competitive interest rates on CDs
- Robust mobile banking services
- Preferred Rewards members get rewards and perks
Cons:
- Lower interest rates on savings accounts than many competitors
- Requirements to waive monthly service fees on savings accounts
7. Bank of New Hampshire
For almost two centuries, the Bank of New Hampshire has served communities that include New Hampshire and Southern Maine. You’ll find 21 branches throughout the service area, along with fee-free access to cash at any Allpoint ATM nationwide.
If you’re looking for that personal banking service experience, you’ll find bank branches throughout the service area. There are several checking account options, including a fee-free option as long as you have at least one qualifying deposit monthly.
Pros:
- Monthly maintenance fees on checking waived with direct deposit or at least one mobile check deposit
- Fee-free cash access at 55,000 Allpoint ATMs nationwide
- Competitive rates on CDs
Cons:
- Low interest rates on savings accounts
- Bank branches limited to New Hampshire and Southern Maine
- Mobile app not as robust as competitors
8. Digital Federal Credit Union
Digital Federal Credit Union serves New Hampshire and Massachusetts, with fee-free access to cash at Co-Op ATMs nationwide. That same network also offers branch access while traveling outside the service area. You’ll just need to look at the branch locator to find one near you.
Membership is limited to those who work for employers and live in communities on the approved list. However, you may qualify if your employer has a presence there, or if you have a family member in the area. Since Digital Federal Credit Union has great financial products and full-featured mobile services, it can serve like online banks do in giving you the best bang for your banking buck.
Pros:
- Fee-free checking offers 0.20% APY
- Higher rates on savings than most financial institutions
- Competitive rates on loans
Cons:
- Strict membership requirements
- Charges overdraft fees
9. Enterprise Bank
Enterprise Bank is a New Hampshire Bank that’s headquartered in Massachusetts. This local bank offers multiple accounts, including checking accounts with easily waived fees. Enterprise’s Rewards Checking lets you accrue points on your debit purchases.
One downside of Enterprise Bank is its limited ATM service area. If you regularly travel outside New Hampshire and Maine, you’ll want an account that reimburses third-party ATM fees each month. The basic account requires a minimum daily balance of $250 to have up to $5 in monthly ATM fees refunded.
Pros:
- Multiple small business banking features
- Wealth management services available
- Monthly maintenance fee waived with one monthly deposit
Cons:
- $50 minimum deposit required to open
- Limited service area
10. M&T Bank
A well-known New Hampshire bank, People’s United Bank, joined the M&T Bank family in 2021, so you’ll find a heavy M&T Bank presence in the state. People’s United Bank migrated all its customer accounts to M&T, which now offers 30 branches in the state. You’ll find multiple checking accounts, including a fee-free option.
Small business owners may want to consider M&T Bank for its robust business offerings. Business credit cards come with rewards for purchases, and entrepreneurs will find a variety of loan options and cash management services.
Pros:
- Competitive rates on CDs
- Rewards-earning personal and business credit cards
- Wide range of business banking services
Cons:
- Limited ATM service area
- Lower interest rates on savings accounts than other online banking options
- Fee-free overdraft protection only available to higher-tier accounts
What to Look for in a New Hampshire Bank
When it comes to personal finance, individual needs vary. You might need conveniences like online bill pay and mobile check deposit, for instance, while someone else prefers access to physical locations for that personalized banking experience. It’s likely your ideal bank operates in New Hampshire, but first, you need to identify what matters most to you.
Access to Funds
Despite the conveniences of managing your account online, online-only banks can fall short. Your best local bank, for instance, may make it easy to withdraw and deposit cash while you’re in town.
But what about when you travel? No matter which bank you choose, it’s important to make sure you’ll be able to withdraw cash and get help when you’re away from home. Some local and online banks offer nationwide access through partnerships with ATM networks or co-ops.
Other Accounts Available
If you prefer a full-service banking solution, pay attention to other accounts the bank offers. Someday you might open a small business, for example, and having a bank that offers solutions for that can help.
But even more important are the savings vehicles a bank offers. A bank that offers competitive rates on money market accounts and retirement accounts could be a better option than one that cuts fees but has low rates.
Finding a great bank in New Hampshire doesn’t have to be challenging. Pay attention to the amenities and fees charged by each bank and narrow down the options to those that will best meet your needs.
Source: crediful.com