As we all know, there are so many banks and credit union out there, whenever you think that where to keep one’s money for safekeeping. There are small-small local and regional financial institutions that can be assigned the responsibility of your hard-earned cash, yes, of course, but for complete services and far-reaching banking, the top national banks wear the crown. As per the Federal Reserve study, we have come to know that these top 5 financial institutions are the top 5 biggest banks in the United States by assets held. We have listed our top 5 banks in America.
JPMorgan-Chase bank is the biggest bank in America and 6th, the largest bank in the world, and as per the Federal Reserve reports JPMorgan-Chase is holding around $2 trillion assets worldwide as of the end of last year. These points make JPMorgan-Chase number one on our list of top 5 banks. The company is of 2000 merge of two much-older banks, one is J.P. Morgan and Company and, Chase Manhattan Corporation. The name J.P. Morgan is utilized for investment banking and private wealth management, the bank also offers retail and commercial bank services as Chase.
The House of Morgan served in $96.6 billion in revenue previous year. However controversies and legal woes over testified energy price adjusting and carelessness in the period of Bernard Madoff scandal, that outcome in billions in fines paid.
Bank Of America
The headquarter of the bank of America is based on Charlotte, North Carolina and without any help, and by its own, it makes that city biggest financial centers in the country. Yes, it is not the largest bank, but this company has the largest wealth management firm worldwide, as it owned Merrill Lynch, a beast in that field.
At the current moment, Bank of America has over 50 million, retail banking customers, but in the beginning stage, it starts gently. It begins with a little institution serving immigrants in San Francisco at the starting stage of the 1900s, and that time it is not right to call it Bank of Italy at that time. Bank of America widely speculated into finance in China with the acquisition of a stake in Chinese Construction Bank, and after a short period of time, it sold off.
Which Bank of America Routing Number You Should Use?
Which Bank of America routing number you would use really, relays on the transaction. You also require one number to make ACH transfers, and others to set up automated bill payments.
Yes, of course, there can be several unique routing numbers, but they never ever shared them with other banks out there. This really helps to make definite that your payments end up where it’s meant to.
Wells Fargo Bank
Wells Fargo’s headquartered is based in San Francisco, California. If you talk in terms of measure and market capitalization then Wells Fargo is the biggest bank worldwide, although it has encountered China’s Industry and Commercial Bank for a particular title back and forth over the past few years. Wells Fargo provides several services such as checking and savings the account. Wells Fargo Routing Number prepares routing numbers for Wells Fargo’s checking and savings accounts.
Wells Fargo is one of the oldest running bank charters in the United States, and you get shocked to know that Wells Fargo pays the biggest amount of corporate taxes as compared to any other US company each year, but also been accused of tax avoidance practices.
Citi bank is the first financial institution to explore the credit card industry and automated teller machines. Citi Bank of New York was regarded as an East Coast equivalent to Wells Fargo during the 19th century while Citi bank and Wells Fargo bank were genuinely regional. And you will get surprised after knowing that Citi bank was the first United States bank to open a banking office in a foreign country, further expanded to Argentina in 1914.
U.S. Bank/ US Bancorp
The present US Bancorp (include U.S. Bank) is one of the results of the combination of huge regional banks from the West and Midwest. The U.S Bank grabs the $389 billion in assets, and as well as the $250 billion in deposits, of 16 million customers. In 1913, banks were forbidden by the law, to use “United States” in their company name. And surprisingly, US Bancorp was the last company which was allowed to use “United States” in their name.