The 10 largest banks in the U.S. are Chase, Bank of America, Wells Fargo, Citibank, U.S. Bank, PNC Bank, Goldman Sachs Bank, Truist Bank, Capital One and TD Bank. Holding trillions of dollars in combined assets, the 10 largest banks in the country offer various financial products. These financial institutions play a pivotal role in the economy, providing individuals and businesses a secure place to hold their money. We at the Vlsew team will look at the largest banks based on assets and the pros and cons of banking with large institutions.
Key TakeawaysWhen referring to the rankings of the largest banks in the United States, the order is based on the total assets each bank manages. In the table below, we include the number of customers, branches and ATMs in each bank’s network to give context to the size and accessibility of each financial institution. Below are the largest 10 banks by assets in the U.S., as reported by the Federal Reserve on Sept. 30, 2023.
| Rank by Asset Size | Bank Name | Total Assets | Customer Count | Number of Branches | Number of ATMs |
|---|---|---|---|---|---|
| 1. | Chase Bank | $3.38 trillion | 80 million | 4,700 | 16,000 |
| 2. | Bank of America | $2.45 trillion | 68 million | 3,900 | 15,000 |
| 3. | Wells Fargo | $1.7 trillion | 70 million | 4,500 | 11,000 |
| 4. | Citibank | $1.68 trillion | 200 million accounts globally | 600 | 2,300, plus access to a fee-free network of 65,000 ATMs |
| 5. | U.S. Bank | $657.2 billion | 11.6 million | 2,000 | 4,500 |
| 6. | PNC Bank | $554.11 billion | 12 million | 2,400 | 2,600, plus access to a fee-free network of 60,000 ATMs |
| 7. | Goldman Sachs Bank | $538.13 billion | 10 million | None | None |
| 8. | Truist Bank | $535 billion | 15 million | 2,000 | 3,000 |
| 9. | Capital One | $468.78 billion | 100 million | 300 branches and 50+ Capital One Cafes | 70,000 |
| 10. | TD Bank | $366.25 billion | 27.5 million globally | 1,100 | 2,700 |
Over 1,200 institutions have come together since 1799 to create what Chase is now. Headquartered on Park Avenue in New York City, Chase holds the most assets of all banking institutions. It offers numerous checking and savings accounts, investment accounts, business accounts and various types of credit cards.
The number two spot is held by Bank of America, another bank that’s been in business for hundreds of years. Charlotte, N.C., is currently home to the BofA headquarters and the bank has branch locations in 37 states. As a banking, investment and business platform, Bank of America offers personal and business checking and savings accounts, credit cards, investment banking and various loans.
Headquartered in San Francisco and founded by Henry Wells and William G. Fargo in 1852, Wells Fargo originally began as a way to move money around the country. Today, the company has scaled to be the fourth-largest bank in the U.S. and has a broad selection of financial products.
Citigroup, which is the parent company of Citibank, is the fourth-largest bank in the country based on assets. Citibank is a global company with headquarters in New York City. Its branch locations are limited when compared to other large banks on this list, but the bank has strong mobile and online banking platforms. Citibank offers banking, lending, investing, wealth management and credit cards to its members.
In 1863, President Lincoln signed the National Bank Charter No. 24 into law, allowing U.S. Bancorp’s predecessor to open its doors for the first time. Currently located in Minneapolis, Minnesota, U.S. Bancorp (the parent company of U.S. Bank) offers a range of products including bank accounts, loans, wealth management and business accounts.
PNC began in 1852 as Pittsburgh National Bank. Still headquartered in Pittsburgh, PNC offers traditional options such as checking accounts, savings, investments, credit cards and borrowing options. PNC goes a step further, offering specialty accounts like accessible banking options for customers with disabilities, student accounts and military-focused accounts.
Goldman Sachs is a well-known investment firm that also offers Marcus, a savings account offshoot. Marcus by Goldman Sachs didn’t open until 2016 when Goldman Sachs decided to enter the high-yield savings account game. Marcus is entirely online, but Goldman Sachs has its headquarters in New York City.
Truist formed in 2019 when SunTrust and BB&T merged, creating the eighth-largest bank in the U.S. Now, Truist’s headquarters is in Charlotte, N.C., and the bank offers personal banking, business banking and commercial banking for large businesses.
Capital One has a shorter history than other institutions on this list, as it opened in 1994 and quickly moved to its current headquarters in McLean, Virginia. Started by Richard Fairbanks, Capital One has made a name for itself in the credit space as well as the banking sphere. The only space where Capital One doesn’t venture is investment management.
Although the TD Group’s headquarters are in Cherry Hill, New Jersey, the bank got its start in Canada. The company was founded in 1855 in Toronto by millers and merchants. It wasn’t until 1919 that TD opened its New York City location. The TD Group offers the usual savings and checking accounts, mortgage and other loan options, credit cards and investing options.
The largest banks in the country can be excellent choices for banking, but that doesn’t mean they’re the right option for every customer. Here’s a look at the pros and cons of going with a big bank.
According to data from the Federal Reserve, the largest banks in terms of assets managed are Chase Bank, Bank of America, Wells Fargo, Citibank and U.S. Bancorp (the parent company of U.S. Bank).
J.P. Morgan Chase is the number one bank in America in terms of total assets held, according to the Federal Reserve.
One of the biggest bank failures in recent history is Silicon Valley Bank. In March 2023, the bank failed, leaving accounts totaling millions of dollars in the hands of the government. In total, the bank took a $1.8 billion loss. In less recent history, the Washington Mutual Bank failure was arguably the worst in history. The bank held billions of dollars in assets and failed during the 2008 recession.
If you’re trying to determine how to transfer money with only a card number and CVV, you’re out of luck.
As we’ll share below, in order to complete transfers, card issuers require more than just these two pieces of information to be provided.
For this reason, if you are looking to make fast and low-cost transfers, it is often best to open local bank accounts in countries that you frequently transfer to instead.
You can use the many free resources available across our website to help you start the process.
And, in this article, we’ll share more specifics about why you won’t be able to transfer money with the only card number and a CVV.
Feel free to use the table of contents to jump ahead to any sections that are immediately relevant to your search.
As mentioned, if you are trying to transfer money with only a card number and CVV, you are out of luck. Credit card companies and payment processors will require the card holders name, address, and zip or postal code. In fact, this is the most basic information that is used to verify transactions. Not to mention, to confirm that they are not fraudulent.
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Below are three of the most common questions that we receive from people looking into how to transfer money with only a card number and CVV. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Yes, you can use a card number to transfer money in several different scenarios and through several different platforms. This includes paying for services or purchasing products through online payment platforms. Sending transfers through international platforms like PayPal. And lastly, it can be done by funding digital accounts and then transferring money from that account.
In order to use a credit card, you need to have the expiration date, address, and zip code tied to the card. Online payment processors use this information to run security checks to make sure that the information provided is accurate with the credit card provider’s own records. If the security check is returned from the credit card provider as inaccurate, it can be blocked from processing. Or, flagged as a fraud claim.
You cannot do anything with just a debit card number and a CVV. Trying to make a purchase with just a debit card number and a CVV will result in a blocked transaction. Or worse, a fraud claim. In most cases, this then results in the card being frozen. If you find a debit card or a debit card number, you should report the card stolen to the card issuer.
If you would like assistance navigating your banking options at home or abroad, we can help.
You can access GlobalBanks IQ, our international banking intelligence platform, in just a few clicks. Unlock our bank database, individual bank profiles, account opening strategies and reports, banker scripts, and more.
But, if you want a 100% personalized account opening service that taps into our team’s expertise and provides direct banker introductions, you can get started with GlobalBanks Insider.
Of course, if you have any questions, please contact us directly.
To transfer money with only a card number and CVV, you can use a money transfer service such as Western Union or MoneyGram. These services allow you to send money to anyone in the world, even if they don't have a bank account.
Can you withdraw money with only your CVV? ›No one can withdraw money or make a transaction if they know your CVV. Someone will need to have access to both your card and your secret PIN to do so. To complete a transaction as well, they will need your secret PIN or the OTP that gets sent to your registered mobile number.
How do I transfer money from my Global cash Card? ›Online money transfer from debit card is a type of wire transfer performed through debit cards. These types of wire transfers do not require the account details of the sender. It only requires the details of your debit card such as debit card number, name on the card, card expiry date, and CVV number.
How can I transfer money without ATM card number? ›Visit your bank's nearest NEFT/RTGS-enabled branch. The NEFT/RTGS fund transfer request form should be filled out. Make sure to provide information such as the recipient's name and account number, the transfer amount, the beneficiary bank's name, and the beneficiary bank branch's IFSC code, such as HDFC Bank IFSC Code.
How do I transfer money with card number and CVV? ›To transfer money with only a card number and CVV, you can use a money transfer service such as Western Union or MoneyGram. These services allow you to send money to anyone in the world, even if they don't have a bank account.
Can anyone withdraw money with card number and CVV? ›There is no way you can withdraw money with a card number and CVV only but it can be done when you have the card number, CVV, and expiry date. These are the most popular ways scammers go about it; by using the card details i.e Card number, CVV, and expiry date, to purchase goods on stores like Amazon.
How do I use global money transfer? › It's easy to send money. Here's how:Sending money without the CVV (Card Verification Value) number is typically not possible, as the CVV is a crucial security feature designed to verify that the person making the transaction physically possesses the credit or debit card.
How do I send money with a 16 digit card number? › How does Visa Direct work?Sending money with a credit card can be convenient, but it typically comes with fees and higher-than-usual interest rates that can add up for big transactions. Apps like Cash App, PayPal and Venmo allow you to send money through their platforms with a credit card, while Apple Cash, Google Pay and Zelle don't.
How to transfer money from bank account without debit card instantly? › Instant Bank Transfer Without Debit CardBy postal order
In the world of sending money by post, money orders are used as a safer alternative to sending cash or personal cheques. Money orders can be purchased at certain shops, post offices, and some banks and credit institutions, and allow you to send and receive money without a bank account.
How do I transfer money online with OTP? › IMPS transactions incur charges, as specified by the bank.The CVV code is designed to make card-not-present fraud more difficult. If a thief obtains your card number, the card number alone will be useless without the CVV. This number is only used to confirm card-not-present purchases.
What can you do with CVV? ›CVV stands for “card verification value,” which is a unique code printed on payment cards that's used to authorize payments made online or over the phone. CVV numbers help protect you if your credit or debit card number is stolen.
Can I use my debit card without CVV number? ›Debit cards without CVVs are not approved for online transactions. Credit Cards missing a Security Code are either not approved for international transactions and/or not approved for online transactions.
How do I use my debit card with CVV? › How to Use a Debit Card Online?