What is the best global bank?
The best bank for international banking depends on your financial needs. Our top picks are J.P. Morgan, Bank of America, Citibank, HSBC, and Standard Chartered.
| Rank & Bank | Headquarters | Market Cap |
|---|---|---|
| #1 JPMorgan Chase | New York, USA | $554.93 B |
| #2 Bank of America | North Carolina, USA | $284.14 B |
| #3 Industrial and Commercial Bank of China Limited | Beijing, China | $237.97 B |
| #4 Wells Fargo | California, USA | $206.66 B |
- Ally Savings Account.
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- Capital One 360 Checking.
- Schwab Bank High Yield Investor Checking® Account.
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| Ranking | Bank | Country/Region |
|---|---|---|
| World best bank | DBS | Singapore |
| World's best corporate bank | JPMorgan Chase | United States |
| World's best consumer bank | CaixaBank | Spain |
| World's best emerging markets bank | HSBC | United Kingdom |
The best bank for international banking depends on your financial needs. Our top picks are J.P. Morgan, Bank of America, Citibank, HSBC, and Standard Chartered.
Citibank. Citibank is one of the best international banks in the US for expat banking because of their very international model. It currently physically operates in 97 markets 2, supporting clients from more than 160 countries, making access to their ATMs more convenient.
- First Republic Bank (FRC) . Above average liquidity risk and high capital risk.
- Huntington Bancshares (HBAN) . Above average capital risk.
- KeyCorp (KEY) . Above average capital risk.
- Comerica (CMA) . ...
- Truist Financial (TFC) . ...
- Cullen/Frost Bankers (CFR) . ...
- Zions Bancorporation (ZION) .
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with $2.6 trillion in assets and operations worldwide.
You can use your physical Chase card to spend in stores and restaurants, and to make international withdrawals at ATMs. Just look out for the Mastercard logo wherever you are to check if the network is accepted. You can view your Chase account and transactions, and manage your card, in the Chase app.
You can apply if you're at least 18 years old and have a valid reason for opening an account overseas. Other criteria apply depending on where you want to open an account.
Which bank has a bad reputation?
The worst banks are Wells Fargo and Citibank. Wells Fargo is the worst bank overall, with a high percentage of unresolved complaints and loss of Better Business Bureau accreditation. Citibank has a string of high-profile cases involving operational chaos and regulatory fines.
| Bank | Forbes Advisor Rating | Learn More CTA text |
|---|---|---|
| Chase Bank | 5.0 | Learn More |
| Bank of America | 4.2 | |
| Wells Fargo Bank | 4.0 | Learn More |
| Citi® | 4.0 |
- Based on 2024 Global Finance Awards: 1st Place: J.P. Morgan Private Bank. 2nd Place: UBS Global Wealth Management. 3rd Place: Julius Baer.
- Based on 2023 Euromoney Awards: 1st Place: J.P. Morgan Private Bank.
Americans with foreign accounts must also submit Form 8938 to the IRS in addition to the largely redundant FBAR form. Those interested in opening a foreign bank account must be aware of these requirements and possible tax penalties, especially for retirement accounts abroad, which have their own unique treatment.
Banks provide country-specific accounts maintained in your destination's local currency. You can choose to open your international bank account online by visiting your bank's website and submitting the application form with the Know Your Customer (KYC) documents.
The largest five banks by market capitalization are JP Morgan & Chase, Bank of America, Industrial and Commercial Bank of China, Wells Fargo, and China Construction Bank. The sixth through eighth largest banks, while smaller in market cap than the top five, are still significantly large.
| Bank NameBank | CityCity | Closing DateClosing |
|---|---|---|
| First Republic Bank | San Francisco | May 1, 2023 |
| Signature Bank | New York | March 12, 2023 |
| Silicon Valley Bank | Santa Clara | March 10, 2023 |
| Almena State Bank | Almena | October 23, 2020 |
2024 in Brief
There are no bank failures in 2024. See detailed descriptions below. For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.
The collapses of Silicon Valley Bank and Signature Bank in March 2023—then the second- and third-largest bank failures in U.S. history—took consumers by surprise. Subsequently, three more banks failed in 2023: First Republic Bank in May, Heartland Tri-State Bank in July and Citizens Bank of Sac City in November.
Is Wells Fargo a global bank?
Wells Fargo serves middle-market and large corporations with a full range of international financial services through offices across the U.S. and throughout the world. Our extensive international coverage provides you with the global expertise and the on-the-ground support needed to help manage your global business.
| Current Rank | Previous Rank | Bank |
|---|---|---|
| 5 | 6 | JPMorgan Chase Bank National Association |
| 6 | 5 | BNP Paribas SA |
| 7 | 7 | China Development Bank |
| 8 | 10 | Bank of America National Association |
The organizations that make up the World Bank Group are owned by the governments of member nations, which have the ultimate decision-making power within the organizations on all matters, including policy, financial or membership issues.
Chase foreign transaction fees
The Chase debit cards that they show on their website charge a fee of 3% on every transaction you make in a currency that isn't US dollars. That covers ATM withdrawals, cash transactions away from ATMs, and purchases you make with your card.
JPMorgan Chase & Co. has 250,355 employees (as of 2016) and operates in more than 100 countries.
