South Carolina is home to many of the best banks, including several local and community banks. You will find a few national banks like Chase and Wells Fargo in this state if you prefer larger banks.
Our list of the best banks in South Carolina below includes several types of accounts that can help you achieve your financial goals. These accounts range from checking and savings to money market and retirement accounts.
When you bank with the best in South Carolina, you don’t have to worry about pesky fees and hidden charges. Instead, you can focus on saving for that trip abroad, a new addition to your house, or buying a new car.
Are you ready to learn more about the best banks in South Carolina? Let’s get started!
13 Best Banks in South Carolina
While not all of the banks in South Carolina won't offer the best bank account bonuses, they do give customers a memorable, personable experience. That’s one of the many perks of working with a local or community bank.
Best Checking Accounts in South Carolina
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Best for liability protection
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Best for APY
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Best for mobile banking
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Best for building credit
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MMG Rating:
5.0
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MMG Rating:
4.5
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MMG Rating:
3.9
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MMG Rating:
4.5
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Monthly fee: $12
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Monthly fee: $0
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Monthly fee: $0
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Monthly fee: $0
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Pros:
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Pros:
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Pros:
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Pros:
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Savings Accounts in South Carolina
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Best for large balances
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No monthly fees
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Offers welcome bonus
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Ease of use
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No balance req.
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APY: 4.70%
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APY: 4.35%
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APY: 4.50%
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APY: 4.50%
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APY: 4.30%
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Minimum to Earn APY: $5,000
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Minimum to Earn APY: $100
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Minimum to Earn APY: $1
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Minimum to Earn APY: $100
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Minimum to Earn APY: $0
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Bonus: N/A
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Bonus: N/A
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Bonus: $325
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Bonus: N/A
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Bonus: N/A
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1. Bank of America
Bank of America, one of the largest banks in the U.S., operates as a national bank with its headquarters in North Carolina. The bank offers various financial services, including three checking account options for various needs.
Bank of America's SafeBalance Banking Checking Account is available for individuals over 16. Notably, this account does not charge overdraft fees.
While this account incurs a monthly fee of $4.95, you can waive this fee based on specific criteria. For savings needs, Bank of America provides a single savings account option.
This account requires a minimum deposit of $100 and carries an $8 monthly maintenance fee. However, the APY for this account may be less competitive.
In addition to checking and savings accounts, Bank of America offers a wide range of financial products and services. These include cards, IRAs, CDs, business banking solutions, investment banking services, and lending options.
2. Caro
Previously known as Carolina Collegiate Federal, Caro offers a second-chance checking account that only requires a $25 one-time deposit. The Rebound Checking account has no minimum balance and allows you to repair your damaged banking history.
This second-chance checking account requires you to set up a direct deposit. You must also pay a $15 monthly fee that you cannot waive.
Once you keep your account in good standing for a period, you can transfer your funds to a standard checking account. You’ll find two Caro locations in Columbia and one in Spartanburg.
3. Carolina Trust Credit Union
Carolina Trust Credit Union offers a second-chance checking account known as Encore Checking. This account requires a monthly fee.
However, if you maintain a positive account status for a year, you can transfer to a standard free checking account. Carolina Trust Credit Union allows customers to replace their ATM card with a Visa debit card after maintaining good account behavior for six months.
Carolina Trust Credit Union has seven branch locations across Conway, Johnsonville, Surfside Beach, Lake City, and Little River. You can also visit two locations in Myrtle Beach.
4. First Citizens Bank
First Citizens Bank is a national bank headquartered in North Carolina. This full-service financial institution operates an extensive network of 270 branches in South Carolina.
You can choose from three types of First Citizens Bank checking accounts. The Free Checking account, while not bearing interest, requires a minimum deposit of $50 and does not have any monthly fees.
Account holders also benefit from a complimentary Visa debit card and overdraft protection. First Citizens Bank provides Prestige Checking and Premier Checking options for customers looking to earn interest on their checking accounts.
These accounts require a minimum deposit of $100 and have monthly fees that can be waived by meeting specific requirements. In addition to checking accounts, First Citizens Bank offers an Online Savings Account with no monthly fees or minimum balance requirements.
Customers can conveniently open this account online with a minimum deposit of $50. However, it's worth noting that the APY for online savings accounts may be less competitive than online-only banks' rates.
5. First Reliance Bank
If you’re looking for some of the best checking accounts in South Carolina, look no further than First Reliance Bank. This bank offers its Simple Checking account, which requires a $25 initial deposit.
The Simple Checking account has no monthly fees if you sign up for eStatements. Otherwise, the monthly fee is $5.
You can find First Reliance Bank locations in the following South Carolina cities:
- Florence
- Lexington
- West Columbia
- Mount Pleasant
- Charleston
- Summerville
- Winston-Salem
- Greenville
- Simpsonville
- Myrtle Beach
- Lake Norman
First Reliance Bank also offers free automatic bill pay, debit cards, and online and mobile banking. You can also find thousands of ATMs nationwide to access your funds.
6. Founders Federal Credit Union
Founders Federal Credit Union offers a variety of benefits to its members, including a free Visa debit card and no monthly fees. There are 18 convenient Founders Federal Credit Union branch locations throughout South Carolina.
You must meet specific membership requirements to join Founders Federal Credit Union. These requirements include working, studying, worshiping, volunteering, or living in the following counties:
- Chester
- Chesterfield
- Laurens
- Union
Residents of the Town of Wellford and the Town of Duncan are also eligible. You can also join if a family member has already joined the credit union.
7. HopeSouth Federal Credit Union
HopeSouth Federal Credit Union offers a second-chance checking account known as Fresh Start Checking. You should contact them directly for specific information on how to qualify and any associated fees.
Once you enroll in Fresh Start Checking and maintain good standing, you may have the opportunity to apply for a standard checking account. HopeSouth Federal Credit Union also provides a basic checking account that does not have monthly fees or minimum balance requirements.
With a single branch location in Abbeville, HopeSouth Federal Credit Union focuses on providing local service and support to its members. It ranks high among the best banks in South Carolina.
8. The People’s Bank
The People's Bank is a community bank dedicated to serving Anderson County and the surrounding area. This bank offers a selection of financial products and services.
The People’s Bank provides two checking account options, including a Rewards Checking account. This account offers the advantage of earning interest and has no monthly fees.
With a Rewards Checking account, you also receive a debit card and access to convenient bill-pay services. You must deposit $100 to open a Rewards Checking account.
The People's Bank offers a traditional savings account with a minimum deposit of $100. Additionally, they provide other savings options such as money market accounts and CDs.
This South Carolina bank also offers credit cards, HSAs, and IRAs. The People's Bank supports personal and business banking needs, providing services such as loans, insurance, and investment accounts.
The People’s Bank also offers personal loans to help individuals meet their financial objectives. While The People's Bank has a strong presence in South Carolina, it has limited branch locations outside the state.
9. Truist Bank
Truist Bank, a regional bank, is the result of a merger between SunTrust Bank and BB&T. With a vast network of 2,500 branches spread across 15 states, Truist Bank offers convenient accessibility to its customers.
Truist Bank provides two checking account options. Although non-interest-bearing, the no-frills Truist One Checking account requires a minimum deposit of $50.
This account carries a monthly fee of $12, which can be waived by meeting specific criteria. Additionally, Truist Bank offers a tiered range of rewards for qualifying accounts.
The bank’s savings account enables automatic funds transfers to your checking account. Opening this account requires a minimum deposit of $50, and it incurs a monthly fee of $5, which can also be waived by meeting certain conditions.
In addition to checking and savings accounts, Truist Bank offers various financial services. These services include credit and debit cards, loans, business banking solutions, investment accounts, and retirement services.
10. United Community Bank
United Community Bank requires a minimum deposit of $100 to open an account. While the APY for their savings accounts may be lacking, they offer convenient mobile and online banking services.
United Community Bank provides exceptional customer service to its clients as a full-service bank. There are approximately 90 locations nationwide, including around 30 in South Carolina.
The United Community Bank app offers various features such as bill pay, mobile check deposit, an ATM/branch locator, and account balance history. The bank provides several checking account options, including free, interest-bearing, investment, and student accounts.
United Community Bank offers five types of checking accounts to cater to different needs. The United Essential Banking account is a non-interest-bearing account that requires a $25 minimum opening deposit.
This particular bank account provides features such as overdraft protection and a debit card. However, it does have a $5 monthly fee.
United Community Bank also offers money market accounts, standard and student savings accounts, CDs, IRAs, HSAs, credit cards, mortgages, and auto loans. While United Community Bank may not be known for having the best money market accounts or rates, it's a one-stop financial shop for South Carolina residents.
11. Vital Federal Credit Union
Vital Federal Credit Union offers a Fresh Start second-chance checking account to assist individuals who may have encountered banking challenges. This account carries a $15 monthly fee without a minimum balance requirement.
You must set up a direct deposit to qualify for the Fresh Start checking account. However, if you maintain good standing for a few months, you can transfer to a basic checking account.
Vital Federal Credit Union is NCUA-insured. The credit union has locations in Spartanburg and Duncan.
You must live, work, worship, or attend a trending school in Spartanburg County to be eligible for membership. If you have a family member who is already a credit union member, they can assist in getting you qualified.
12. Wells Fargo
Wells Fargo, one of the best national banks, offers several banking services. With five checking account options, their Everyday Checking account stands out as the most popular choice.
While Everyday Checking doesn't accrue interest, it requires a minimum deposit of $25 and carries a $10 monthly fee. However, customers can waive this fee by fulfilling specific criteria.
Wells Fargo also provides two savings account options. The Way2Save account, the most common choice, requires a $25 minimum deposit and a $5 monthly fee.
However, customers have the convenience of setting up automatic fund transfers between their checking and savings accounts. In addition to checking and savings accounts, Wells Fargo offers credit and debit cards, CDs, personal loans, investment accounts, and comprehensive business banking solutions.
13. First National Bank
This regional bank offers some of the best checking accounts for a full-service bank. You can choose from five checking accounts in total, including:
- Freestyle Checking
- Lifestyle Checking
- eStyle Checking
- eStyle Plus Checking
- Premierstyle Checking
Choose the Premierstyle Checking account, and you can get your first order of checks free. First National Bank also offers savings accounts, mortgages, loans, investment planning, insurance, and business accounts.
FAQs
There are over 70 different banks in South Carolina. These banks operate almost 1,200 physical branches in the Palmetto State.
First Citizens Bank, United Community Bank, and Carolina Trust Credit Union offer free checking accounts. Many banks offer free accounts if you meet specific balance or deposit requirements.
United Community Bank is the largest bank in South Carolina. Wells Fargo and First Citizens Bank also have a large presence in this state.
Become a Banking Pro with the Best Banks in South Carolina
Did you know that South Carolina doesn’t have a pro sports team? Even though South Carolina might not play ball like the other states do, it certainly offers its residents superior banks and credit unions.
We hope this article helps you find some of the top banks in South Carolina, including those that offer new members a welcome bonus. When you get a little reward for signing up, it makes the hassle worth the while.
The best banks in South Carolina can’t be found anywhere else, at least in how they show up in this state. Now that you know more about the best banks, which one will you choose?
