Noted for his baritone singing voice, he is best known as the lead vocalist, rhythm guitarist, and studio bassist of the American rock band Interpol.

In Spain, Banks studied at the American School of Madrid in Pozuelo de Alarcón before the family moved back to the U.S. and lived in New Jersey.

[2] Banks was involved in stage productions during his time at the American School Foundation, playing the lead role in the musical South Pacific.

[7] He later attended New York University, where he studied English and comparative literature,[8] and worked at magazines such as Gotham[9] and Interview after graduating.

[14] In the summer of 1997, Banks reconnected with fellow NYU undergrad Daniel Kessler, whom he had met previously on a study abroad program in Paris.

[15] Kessler then asked Banks to join Interpol, a band he had started with bassist Carlos Dengler and drummer Greg Drudy.

[24] In March 2020, Banks announced that he had teamed up with Matt Barrick (of The Walkmen and Fleet Foxes) and Josh Kaufman to form a new band called Muzz; he then released their first single, "Bad Feeling".

[25] Banks was inspired to become a musician by Nirvana,[26] but has said that he does not try to emulate his greatest influences because he thinks he cannot live up to them: "I would never try to sing like Frank Black or Kurt Cobain because you just can't do it.

Though he was born in Essex to English parents, Banks speaks with a Midwestern American accent due to growing up primarily in Michigan.