Kathmandu . Banks in the US make money off of the money you have put into your bank account. Whenever you put money in your account in the United States, that money gets moved to a large pool of money that is used for other people to buy homes, cars, or finance their business or child's education. Jun 19, 2023

There are currently 4,844 insured commercial banks, according to the Federal Deposit Insurance Corporation (FDIC). This figure is current as of the end of 2021. The FDIC reports a new insured bank count every year, and next year's number is almost certain to be different.

The 10 largest banks in the U.S., according to domestic assets, are Chase, Bank of America, Wells Fargo Bank, Citibank and U.S. Bank.

1. JPMorgan Chase : Chase Bank is the consumer banking division of JPMorgan Chase. It currently has more than 4,700 branches and more than 16,000 ATMs. Chase has branches in all of the 48 contiguous United States and has more branches in the U.S. than any other bank.

Bank rate's review of JPMorgan Chase

Assets: $3.27 trillion

Headquarters: New York

2. Bank of America : Bank of America serves about 67 million consumers and small business clients worldwide. Like many of the biggest banks, it offers robust digital tools that include a versatile mobile app. In early 2022, Bank of America eliminated its insufficient funds (NSF) fee and reduced its overdraft fee, following an industry trend.

Bank rate's review of Bank of America.

Assets: $2.52 trillion

Headquarters: Charlotte, North Carolina

3. Citigroup : Citigroup is a global financial services corporation. Its retail banking division has about 673 locations in the U.S. and more than 1,800 branches outside of the country. U.S. customers can also access more than 65,000 fee-free ATMs.

Bank rate's review of Citibank.

Assets: $1.72 trillion

Headquarters: New York

4. Wells Fargo : Wells Fargo was founded in 1852. In addition to its main app, Wells Fargo has introduced a savings app and a mobile banking app geared towards millennials. The bank has rebranded and is focusing on repairing its fractured relationship with customers after a series of missteps.

 Bank rate's review of Wells Fargo.

Assets: $1.69 trillion

Headquarters: San Francisco

5. U.S. Bancorp : U.S. Bancorp is the bank holding company and parent company of U.S. Bank. What we've come to know as the fifth-largest commercial bank by assets began in 1863 as the First National Bank of Cincinnati. Multiple mergers led to the formation of the bank known today for its extensive branch network and investment in improving its digital offerings. U.S. Bank has branches in more than half of U.S. states.

Bank rate's review of U.S. Bank.

Assets: $590.46 billion

Headquarters: Minneapolis

6. Truist Financial : Truist is the bank formed by the merger of BB&T and SunTrust. Truist provides financial services to about 12 million consumer households, as of 2020.

BB&T and SunTrust, which were ranked the 11th and 12th largest banks by assets, respectively, as of Sept. 30, 2019, now form a top-10 bank. Those two banks have around 275 years of combined history.

 Bank rate's review of Truist Bank.

Assets: $564.84 billion

Headquarters: Charlotte, North Carolina

7. PNC Financial Services : PNC was founded as Pittsburgh Trust and Savings Co. in 1852. That transaction roughly doubled the bank's size. Today, the bank has around 2,570 locations in 28 states and Washington, D.C. PNC agreed to acquire BBVA USA for $11.6 billion in November 2020 and the deal closed June 1, 2021.

Bank rate's review of PNC Bank.

Assets: $556.31 billion

Headquarters: Pittsburgh

8. Goldman Sachs : Goldman Sachs is a global investment banking, management and securities firm. Its clients have access to a variety of financial services, including banking products through Marcus, its online banking arm that made its debut in fall 2016 and began offering personal loans.

Bank rate's review of Marcus by Goldman Sachs.

Assets: $490.80 billion

Headquarters: New York

9. Capital One Financial : Capital One is a Fortune 500 company with subsidiaries that include Capital One Bank. In addition to branches on the East Coast, it also has branches in Texas and Louisiana. Capital One bank customers in select cities have access to Capital One Cafes, coffee shops with free Wi-Fi where visitors can open accounts and attend financial workshops.

Read Bank rate's review of Capital One 

Assets: $469.43 billion

Headquarters: McLean, Virginia

10. TD Group Holdings : TD Bank is the U.S. commercial banking arm of Canada's TD Bank Group. Customers have access to mortgages, deposit accounts, credit cards and products for commercial and small business clients. The bank has over 1,100 branches along the East Coast and provides access to around 2,600 branches.

Bank rate's review of TD Bank.

Assets: $401.25 billion

Headquarters: Cherry Hill, New Jersey