Montana is a beautiful place to live, with its waterways and mountainous terrain. If you live and work in the state, you likely need a great place to park your money. The best banks in Montana give you everything you need to pay your bills and manage your money, while also keeping fees to a minimum.
The banking industry in Montana is thriving, with a wide range of brick and mortar banks that include local, national, and regional banks. Online banking can be a great option, as well, offering reduced fees and savings rates that are above the national average.
12 Best Banks in Montana
This list offers a combination of different bank accounts to help you find the right combination of features to fit your needs.
1. U.S. Bank
U.S. Bank operates 21 branches across 14 towns in Montana. While the bank has ATMs throughout Montana, it doesn’t operate in every state.
2. SoFi
SoFi Checking & Savings is a solid online option for Montana residents who want high interest rates and a fee-free account.
3. First Interstate Bank
First Interstate Bank is a strong choice for Montana residents, with 41 branches across the state.
4. Stockman Bank of Montana
Stockman Bank of Montana is a local bank. It stands as the largest family-owned bank in Montana, with several branches across the state.
5. Opportunity Bank of Montana
Opportunity Bank of Montana, located in Helena, is a community bank that extends its services nationwide through an expansive ATM network. They offer two free checking accounts to cater to different needs.
6. Glacier Bank
Glacier Bank is a regional bank that has over 220 branches in Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona, and Nevada.
7. Chase
Chase Bank has a solid presence in Montana, with branches in cities like Helena and Billings. It also stands as a national powerhouse with over 4,800 branches across 48 states and D.C.
8. Farmers State Bank
Farmers State Bank is a community bank with several locations in Montana. You can start an account with a modest opening deposit of $25, and enjoy no monthly fees and no ongoing minimum balance requirements.
9. Trailwest Bank
Trailwest Bank, locally owned and operating in Ravalli, Missoula, Mineral, and Flathead counties, offers residents checking and savings options that come with a welcoming community touch.
10. Ally
Ally Bank excels as an online bank with competitive interest rates across various accounts. Its checking account offers interest, while the savings account features attractive rates.
11. Independence Bank
Independence Bank stands out as a favored option among local Montana banks, featuring multiple physical branches throughout the state. It prioritizes in-person customer service, something characteristic of brick-and-mortar banks.
12. Valley Bank of Kalispell
Valley Bank of Kalispell has been a reliable part of the community for over a century, operating with a main office in downtown Kalispell and a loan office in Eureka.
How to Choose the Best Bank in Montana
Selecting among the best banks in Montana is a significant step in securing a financial pathway that caters to your lifestyle. It involves analyzing various elements that can fundamentally impact your banking experience. To help you make an informed decision, we’ve outlined the following factors:
Accessibility
Given Montana’s expansive landscape, proximity to physical bank branches can be a decisive factor. Many of the best banks in Montana offer an extensive network of branches, facilitating convenient access to banking services. Consider how vital in-person banking is to you and choose a bank that caters to this need proficiently.
Fee Structure
Banks have different fee structures, including monthly maintenance fees, ATM usage charges, and overdraft fees. A bank that offers low or no fees can potentially save you a significant amount of money in the long run. Analyze the fee structures of different banks to find the one that is most economical for you.
Interest Rates
Whether you’re looking for the best savings accounts, the best checking accounts, or CDs, interest rates can be a deal-breaker. Many of the best banks in Montana feature competitive interest rates, so you can maximize your savings. Always compare rates on various financial products before making your choice.
Safety and Security
Ensuring your deposits are safe should be a top priority. The best banks in Montana are insured by the Federal Deposit Insurance Corporation (FDIC), which means your deposits are typically protected up to $250,000 per depositor, per bank. This protection gives you peace of mind, knowing that your money is secure.
Additional Perks
Banks often lure customers with a range of additional perks, such as rewards programs, signup bonuses, and other financial incentives. Evaluate the perks offered by various banks and assess how beneficial they will be in your financial landscape.
Online and Mobile Banking
In today’s world, convenient online and mobile banking services are a must. The best banks in Montana offer secure and user-friendly platforms, accessible through both websites and mobile apps. Features usually include mobile check deposits, bill pay, and easy account management. Ensure your chosen bank provides these modern amenities to facilitate smooth banking operations.
Customer Service
Lastly, consider the quality of customer service. Responsive and helpful customer service can make your banking experience smooth and hassle-free. Take time to read reviews and possibly consult current customers to get a sense of the service quality at different banks.
Remember, the “best” bank will vary based on individual preferences. Take time to assess your financial habits and goals, and use this understanding as a guideline to choose from the best banks in Montana. It might be beneficial to create a list of non-negotiables to help streamline your decision process further.
Types of Banks to Consider in Montana
When choosing a bank in Montana, it helps to know what types of institutions are available and how they differ.
National Banks
National banks operate across the U.S. and offer a full range of services, from checking and savings to loans and investments. With large branch and ATM networks, they’re ideal for people who travel or need multi-state access. U.S. Bank, Wells Fargo, and Chase are some of the national banks with a presence in Montana.
Regional Banks
Regional banks serve specific areas and offer many of the same services as national banks, often with more local insight. Glacier Bank and Stockman Bank of Montana are two examples that provide strong service across the state.
Community Banks
These smaller banks focus on local service and personalized support. Valley Bank of Kalispell and Farmers State Bank are known for serving the unique needs of Montana residents and businesses.
Online Banks
Online-only banks like SoFi and Ally offer high-yield savings, no-fee checking, and user-friendly apps. With no physical branches, they often have lower fees and better interest rates.
Credit Unions
Credit unions are member-owned and typically offer lower fees, competitive loan rates, and a community-driven approach. Montana has several credit unions that serve specific cities, professions, or regions.
Final Thoughts
Montana has banking options for every need, whether you want the familiarity of a local branch, the flexibility of online banking, or the low fees of a credit union. From national names to community banks, each option brings something different to the table.
Before opening an account, think about what matters most—whether it’s interest rates, customer service, or easy ATM access. A little comparison now can help you find the right fit and avoid fees or headaches later on.
