Most of us have gotten used to making purchases with our credit and debit cards rather than cash or coins. But did you know that the average American consumer uses their debit card almost 23 times a month?
The good news is that many banks offer free checking accounts if you make a specific number of charges. You’d hit the target for most of them if you used your debit card over 20 times monthly.
However, the best banks in New Jersey offer more than just free checking accounts. With these banks, you can manage your finances better to achieve your financial goals.
Our list of the best banks in New Jersey includes a few regional and community banks. While we could add a few national banks like Chase and Wells Fargo, these banks often pale compared to the perks you get with a local bank.
Are you ready to learn more about the best banks in New Jersey? Let’s get started!
Best Banks in New Jersey
Based on our research, these are the best banks in New Jersey for 2023.
Best Checking Accounts in New Jersey
When searching for the best checking account in New Jersey, you want to make sure you're getting the most out of it. That means keeping an eye out for low fees, great customer support, and easy access to free ATMs nearby.
And if you happen to find an account that also earns you some interest on your money, well, that's even better! So, keep these factors in mind as you explore your options and find the checking account that suits you best in New Jersey.
Here are the details on our favorite checking accounts this month.
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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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Best Savings Accounts in New Jersey
The best savings accounts in New Jersey have high annual percentage yields (APYs), allowing your money to grow more over time. Look for accounts with competitive APYs to make the most of your savings.
Here are the details on our favorite savings accounts this month.
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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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Best Bank Promotions in New Jersey
Bank account bonuses and promotions often offer attractive cash bonuses when you establish a new checking or savings account. If you're looking for the best bank bonuses in New Jersey, it's important to note that these bonuses are typically awarded as one-time perks.
To be eligible for such rewards, you will typically need to arrange for direct deposit with the bank and maintain the account for a minimum duration, often a few months.
Here are the details on our favorite bank account bonuses this month.
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Best for checking
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Best for savings
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Best for business
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(Nationwide)
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(Nationwide)
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(Nationwide)
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- Bonus Offer: $300
- Minimum Deposit: $500
- Direct Deposit: Yes
- Expiration Date: 1/22/25
- Bonus Offer: $325
- Minimum Deposit: $1,000-$5,000
- Direct Deposit: Yes
- Expiration Date: 12/31/24
- Bank Bonus: $300
- Minimum Deposit: $2,000
- Direct Deposit: No
- Expiration Date: 1/16/25
Indeed, New Jersey is home to some of the best national banks, but the best community and local banks often offer similar services with a personalized touch. Check out our list of the best banks in New Jersey to see if your bank made the cut.
1. American Heritage Credit Union
American Heritage Credit Union is a Pennsylvania-based credit union with a branch located in Cherry Hill, NJ. Membership requirements are broad and include living, working, worshipping, or attending school in Philadelphia-area communities.
You can also become a member if you work for one of the credit union's employer partners or have a relationship with a current member. Membership is also open to individuals who are members of the Kids-N-Hope Foundation.
American Heritage Credit Union has a customer-friendly approach with no monthly fees, minimum balance requirements, or minimum opening deposit. The credit union also provides low overdraft fees and reimburses up to 10 out-of-network ATM fees monthly.
Various financial products and services are available, including savings accounts, CDs, and loans for automobiles and homes. Additionally, American Heritage Credit Union offers business banking solutions to support small businesses in their financial needs.
2. Atlantic Federal Credit Union
Atlantic Federal Credit Union offers a second-chance checking account called Take 2 Checking. This account carries a $10 monthly fee.
However, customers can transfer to a standard checking account by maintaining good standing for six months. Take 2 Checking provides various benefits, including a free Visa debit card, online and mobile banking, bill payment services, and credit union promotions.
Atlantic Federal Credit Union operates branches in Kenilworth, Newark, and West Orange. Atlantic Federal Credit Union membership is open to individuals who live, work, worship, do business, or attend school in Union County or Essex County.
Immediate family members of current members are also eligible to join. Check out Atlantic Federal Credit Union today to see how you can bank better in New Jersey.
3. Century Savings Bank
Century Savings Bank offers a variety of checking accounts tailored to different needs. These include:
- Consumer Checking Plus
- Century Checking Plus
- Money Market Plus
- 55 Plus Checking
Century Savings Bank provides free online banking services, including online bill payment and eStatements. You also get a Mastercard debit card for easy and secure transactions.
You can find Century Savings locations in:
- Elmer
- Mullica Hill
- Vineland
- Bridgeton
- Gibbstown
4. Columbia Bank
Columbia Bank offers three different checking account options to cater to various needs:
- Neighborhood Account: This basic account requires a minimum deposit of $25 and a $5 monthly fee, which can be waived by fulfilling specific criteria. These include making 10 debit card transactions, receiving a direct deposit, or maintaining a daily balance of $2500.
- Relationship Account: This account requires a $25 minimum deposit and a $20 monthly fee. Customers can avoid this fee by maintaining a balance of $10,000 or a combined balance of $25,000 across accounts. Columbia Bank offers ATM fee refunds and three boxes of checks for free. Customers also receive a $25 annual refund on safe deposit box rentals and earn interest on this account.
- Advantage Plus Checking Account: Maintain a balance of $500 or more to waive this account’s monthly fees. The account offers ATM fee refunds of up to $30 each month. It provides bonus interest rates on CDs and reduced interest rates on loans. Customers can also access the uChoose Rewards Program.
As part of its promotions, Columbia Bank offers a $200 bonus with the first direct deposit or bill pay or a rebate on 12 months of subscription services such as Hulu, Netflix, or Spotify.
5. First Atlantic Federal Credit Union
First Atlantic Federal Credit Union operates branches in Eatontown, Neptune, Oceanport, and Toms River. They offer two types of checking accounts: One Account and Elite Account.
The One Account provides convenient access to a network of 30,000 ATMs. It also offers free online and mobile banking services, a debit card for easy transactions, unlimited check writing, and the option to receive eStatements.
This account is designed to meet customers' needs looking for a straightforward checking solution without any minimum balance requirements or monthly fees. First Atlantic Federal Credit Union prioritizes accessibility and convenience by offering multiple branch locations.
6. Garden State Federal Credit Union
Garden State Federal Credit Union offers various checking account options for different needs. Their primary account is free of charge and does not require a minimum balance.
Membership eligibility at Garden State Federal Credit Union is open to individuals who live, work, worship, or attend school in one of nine cities in New Jersey. Alternatively, individuals employed by participating employers can also join.
While Garden State Federal Credit Union has branches in Moorestown and Bellmawr, they are also part of the Co-Op Shared Branch Network. This partnership allows members to access services and conduct transactions at participating credit union branches nationwide.
7. Jersey Shore Federal Credit Union
Jersey Shore Federal Credit Union offers a second-chance checking account known as Fresh Start Checking. You need a $25 minimum deposit to open this account.
This account comes with a monthly service fee of $15, which you can avoid by completing a checking management program and enrolling in direct deposit. Jersey Shore Federal Credit Union members enjoy access to thousands of free ATMs, unlimited check writing, and convenient online and mobile banking services.
These services include bill payment and remote deposit functionalities. Additionally, the credit union offers overdraft protection to provide further financial security to its members.
You can find Jersey Shore Federal Credit Union locations in:
- Atlantic City
- Galloway
- Mays Landing
- Northfield
- Rio Grande
Membership eligibility extends to individuals who live, work, volunteer, worship, or attend school in Cape May County or Atlantic County.
8. La Capitol Federal Credit Union
La Capitol Federal Credit Union offers various checking account options. These accounts may have an $8 monthly fee, but customers can waive it by maintaining a minimum balance of $1,000 or conducting at least 15 monthly debit card transactions.
La Capitol Federal Credit Union provides added convenience by reimbursing ATM fees up to $25 monthly. One of their account options is the Choice Checking account, which offers a competitive interest rate on balances up to $10,000.
However, to receive the higher Annual Percentage Yield (APY), members must make at least 15 debit card transactions each month. The credit union emphasizes digital banking services, including online and mobile banking.
Additional features include bill payment services and a 24-hour grace period for overdrafts. While La Capitol Federal Credit Union is based in Louisiana, they offer services through New Jersey-based credit unions.
9. New York Community Bank
New York Community Bank offers three distinct checking account options:
- My Community Basic Checking: The first option is My Community Basic Checking, which requires a minimum deposit of $1. It has a monthly fee of $2 that cannot be waived.
- My Community Free Checking: This account also requires a minimum deposit of $1. However, it does not have a monthly fee attached. Additionally, this account provides the convenience of electronic statements.
- My Community Interest Checking: You must have a minimum deposit of $100 to open this account. To avoid a monthly fee of $6, a minimum daily balance of $500 must be maintained. This account also offers the advantage of earning interest on the balance.
All three checking accounts provide cashback rewards for debit card transactions. Transactions earn points, with 10 points equivalent to $1.
Specific transaction types earn varying amounts of points. It's important to note that there is a limit of 60 points per month for transactions at grocery stores.
10. OceanFirst Bank
OceanFirst Bank offers two checking account options that stand out as some of the best checking accounts available. The first option is Totally FREE Checking, which has no fees, minimum balance requirements, or minimum deposit requirements.
The second option is Simply Great Checking, which allows you to earn interest on your balance. You must have a $50 minimum deposit to open this account.
However, there is a monthly fee of $7.95 unless your daily balance exceeds $5,000. With the Simply Great Checking account, you can earn 10,000 uChoose Rewards Points by making 240 purchases with your debit card within a year.
It's important to note that to be eligible for this rewards program, you must have a Simply Great Checking account. However, even with the Totally FREE Checking account, you can still earn uChoose Rewards Points.
The uChoose Rewards Points can be redeemed for various items, including gift cards, products, and event tickets, providing added value and benefits to account holders.
11. Provident Bank
Provident Bank is a well-established financial institution with over 180 years of experience. This bank has a significant presence in New Jersey, New York, and Pennsylvania and has 77 branches in New Jersey alone.
Provident Bank offers a comprehensive range of services for both personal and business banking needs. They provide insurance, wealth management, and various loan options.
For personal banking, Provident Bank offers a variety of accounts. These include checking and savings accounts, CDs, and money market accounts.
Provident Bank’s Basic Checking account is free and has unlimited ATM transactions without any minimum balance requirements. Customers also benefit from the convenience of a debit card.
You can also open the interest-bearing Provident Smart Checking account. It offers a competitive Annual Percentage Yield (APY) on balances up to $15,000.
Provident Bank offers a Financial Wellness center to support their customers' financial well-being. Provident Bank offers overdraft protection called Overdraft Privilege.
12. Santander Bank
Santander Bank is a community bank with a strong presence in New Jersey. With 20 branches and ATMs across the state and over 2,000 ATMs nationwide, Santander Bank ensures convenient access to cash for its customers.
This bank also provides the Ultimate Cash Back Card, which offers 3% cashback for the first 12 months and a 0% introductory APR. The card has additional benefits such as no fees for cash advances, returned payments, foreign transactions, and no annual fees.
Santander Bank offers three checking account options. The Simply Right Checking account is a basic account with a $10 monthly fee that can be waived by making a single monthly transaction.
This checking account requires a minimum opening deposit of $25. Santander Bank offers an account with no minimum balance requirement and a $25 opening deposit for savings.
The bank provides online and mobile banking services, allowing customers to manage their accounts conveniently. Santander Bank also offers welcome bonuses as part of its commitment to providing new customers with the best bank account bonuses.
13. United Teletech Financial Federal Credit Union
United Teletech Financial Federal Credit Union provides a Fresh Start Checking account as a second-chance checking option. By maintaining good standing for 12 months, account holders can transfer to a standard checking account.
The Fresh Start Checking account offers various benefits, including free debit cards, online and mobile banking, bill payment services, and unlimited check writing. United Teletech Financial Federal Credit Union has multiple branch locations in:
- Middletown
- Hazlet
- Morganville
- Neptune
- North Brunswick
- Tinton Falls
Membership is open to individuals who live, work, worship, volunteer, or attend school in Monmouth County, Ocean County, and parts of central Middlesex County. Additionally, individuals who are directly related to a current credit union member are also eligible to join.
14. Valley National Bank
Valley National Bank is a regional bank that operates branches in various states, including:
- New Jersey
- Alabama
- Florida
- New York
This bank offers a range of banking products and services, including new account bonuses. Valley National Bank provides the My Loyalty Checking account for customers seeking a checking account.
This account requires a minimum opening deposit of $100. However, it comes with no monthly fees or minimum balance requirements.
Valley National Bank also provides various savings options, CDs, and money market accounts to help customers grow their savings. This bank also offers specialized checking accounts for college students, teenagers, and businesses.
FAQs
There are almost 90 banks in New Jersey. We covered about a dozen of them in our list of the best banks above, but you can find more by driving around your local New Jersey town.
Choosing between traditional banks and online-only banks can be challenging, depending on what services you’re looking for. Traditional banks offer face-to-face transactions and a live person to help, while online-only banks offer better interest rates on loans and savings accounts.
The largest bank in New Jersey is TD Bank. Other well-known banks include Wells Fargo, Chase, Bank of America, PNC Bank, and Chase.
Sowing Financial Seeds in the Garden State
The best banks in New Jersey help you prioritize your finances so you can do more while stressing less. Plus, they don’t charge you for basic accounts and services that larger banks often do.
We hope this article helps you find the best bank in New Jersey that suits your financial needs. When you find a trustworthy bank, managing your finances can be much easier.
Our list of the best banks above probably included a few banks you’ve heard of and some you haven’t. The good news is that you also have several credit unions to choose from.
Which of the best banks (or credit unions) in New Jersey will you pick?
