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Checking accounts are a safe place to keep money you need for everyday spending. Most checking accounts today make it easy to access your money, offer flexible withdrawal options, and are FDIC insured. And the best checking accounts have low or no fees, a high annual percentage yield (so your money is making money), and ATM fee reimbursement.
Ready to compare checking accounts? We've evaluated over 100 banks to find the accounts below -- our picks for the best checking accounts.
We pride ourselves on being able to confidently say that these checking accounts are chosen by personal finance experts that operate independently of our Partnerships team, meaning the picks on this page are not and never have been influenced by advertising deals.
Our Ratings team:
SoFi Checking and Savings
With no fees or minimums and tools designed to maximize your savings, the combo account is a good fit for individuals who want to do most of their banking in one place online. The account offers flexibility to access or move funds, especially if your employer's payroll system allows you to access the bank's early direct deposit benefit.
Why we think this is the best savings and checking account in one:
The SoFi Checking and Savings account checks all the boxes anyone could hope for in a checking or savings account -- competitive rates, few fees, and more FDIC insurance. And with linked accounts, it's easy to transfer funds back and forth quickly.
Discover® Cashback Debit
The Discover Cashback Debit account could be a lucrative option for those who frequently use their debit card. With cash back on eligible purchases, it's possible to earn even more than you could with a typical checking account APY without changing your habits at all. The fact that Discover has done away with many common checking account fees only adds to its appeal.
Why we think this is the best for cash back rewards:
The Discover® Cashback Debit account rewards customers with 1% cash back on most debit card purchases up to $3,600 per year. This could pay you up to $360 in cash back annually -- more than most people would earn even with an interest-bearing checking account.
Axos Bank Rewards Checking
A solid checking account with an APY that far outpaces the competition. The fact that it also has no maintenance fees and no overdraft or NSF fees are the cherries on top.
Rewards Checking disclosure:
To be eligible to earn all or a portion of the cash incentive as part of the promotional offer "RC500," an application for a Rewards Checking account must be submitted between 06/20/2024 at 12:00 am PT and 07/31/24 at 11:59 pm PT.
Axos Bank reserves the right to limit each primary account holder to one (1) checking account promotional offer per year. Promotional terms and conditions are subject to change or removal without notice. Incentive may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After initial requirements above are met, the amount of incentive earned will depend on meeting the additional requirements outlined below:
Rewards Checking bonus up to $500: You must be approved for your new Rewards Checking account and fund it within 60 days of account opening. An incentive of up to $500 can be earned during the first six (6) statement cycles, starting in the statement cycle thirty (30) days after the account is opened. A statement cycle is a calendar month consisting of at least one day your account was open during that month. You can earn a maximum of five (5) payouts during the six (6) statement cycles, and the incentive will be deposited into the qualifying account within 15 business days following the end of the statement cycle in which the requirements were met.
$100 will be earned for each statement cycle, up to $500, when you meet two requirements during that statement cycle: 1) your Rewards Checking account receives qualifying direct deposits at least $1,500.00 in total, and 2) the average daily balance in your Rewards Checking account is at least $3,000.
Your Rewards Checking account must remain open and in good standing at the time the incentive is paid to be eligible.
A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, Disability etc. Other deposits (i.e., online banking transfers, ATM and mobile check deposits, etc.) or person-to-person payments are not considered a direct deposit. Account transactions may take one or more business days from the transaction date to post to the account.
Why we think this is the best for APY potential:
The Axos Bank Rewards Checking account offers an APY that's well above average, even for online checking accounts. Its top rate isn't too far off the best savings account interest rates, though not everyone qualifies for it.
Quontic High Interest Checking
Quontic High Interest Checking earns one of the highest APYs among checking accounts. Unfortunately, you must make 10 qualifying debit card purchases of $10 or more each statement cycle to earn the highest interest tier. Still, the account is a good option to maximize savings beyond other deposit accounts. Plus, it has no monthly fees and access to fee-free ATMs.
10 debit card point of sale transactions of $10 or more per statement cycle required to earn the maximum APY. If the qualifying activity requirement is not fulfilled, the interest rate paid on the entire balance will be 0.01% APY.
Why we think this is the best for frequent debit card users:
The Quontic High Interest Checking account comes with a free debit card and a nationwide, fee-free ATM network. Its customers also have the option to try out the Quontic Pay Ring -- the nation's first wearable payment ring.
E*TRADE Max-Rate Checking
For those who want to earn more interest on their checking account balance, E*TRADE Max-Rate Checking offers one of the highest APYs we've found. You'll need to keep an average monthly balance of $5,000 to waive the $15 fee, but you'll get fee reimbursements for ATMs worldwide.
Why we think this is the best for linked investment accounts:
The E*TRADE Max-Rate Checking account enables you to quickly move funds to your E*TRADE investment account without having to wait for a transfer from an external bank. It also offers a competitive APY so you can grow your wealth even if you're not investing it.
American Express Rewards Checking
With Amex Rewards Checking, you can earn 1 Membership Rewards point for each $2 of eligible debit card purchase. There are no monthly fees or minimum balance requirements for the account. You can redeem your points for deposits into your Amex Rewards Checking account and there is no cap on how many points you can earn. The account offers a high APY (annual percentage yield) and earns rewards but those are limited to certain options.
Why we think this is the best for Amex cardholders:
The American Express Rewards Checking account is an exclusive offering for American Express card holders. It has big appeal thanks to its lack of fees, competitive APY, and debit card rewards with no cap.
Capital One 360 Checking
Capital One boasts a top-rated mobile app and has over 70,000 fee-free Capital One, MoneyPass, and Allpoint ATM locations. For those looking for face-to-face interaction, Capital One has over 450 locations and 50 Capital One Cafes, where customers can bank, get a cup of coffee, and ask for advice from a certified money coach. However the APY is lower than other online banks.
Why we think this is the best for branch access:
The Capital One 360 Checking account only has branches in a handful of states, but if you live near one, it could give you the best of both worlds. You'll get the competitive rates and few fees of an online institution with the personalized customer service of a brick-and-mortar bank.
LendingClub Rewards Checking
Why we think this is the best for ATM users:
The LendingClub Rewards Checking account doesn't come with a fee-free ATM network like most online checking accounts. Instead, you get unlimited ATM fee reimbursements, so you're free to use any ATM you like without ever paying to access your cash.
We believe the best checking accounts typically have:
When you compare checking accounts, look at all of the above factors to get the whole picture for each account.
Offer | APY | Minimum to Earn APY | Rating | Promotion | Next Steps | |
---|---|---|---|---|---|---|
SoFi Checking and Savings
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
0.50%
Rate info
You can earn the maximum savings APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
$0
|
Cash bonus up to $300 with direct deposit set up (see details when you click 'Open Account')
|
offer alert
Cash bonus up to $300 with direct deposit set up (see details when you click 'Open Account')
|
|
2024 Award Winner
Discover® Cashback Debit
Member FDIC.
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
0%
Min. to earn: N/A
|
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
N/A
|
Earn 1% cash back on up to $3,000 in debit card purchases each month (see details when you click 'Open Account')
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Offer alert
Earn 1% cash back on up to $3,000 in debit card purchases each month (see details when you click 'Open Account')
|
|
2024 Award Winner
Axos Bank Rewards Checking
Member FDIC.
Rating image, 4.25 out of 5 stars.
4.25/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
0.40% (up to 3.30%)
Rate info
To earn the full APY, account holders must do all of the following: Receive monthly direct deposits totaling more than $1,500; make 10 transactions a month with your Axos debit card, or sign up for Axos's Personal Finance Manager; maintain an average daily balance of $2,500 per month in an Axos Invest Self Directed Trading Account; and use your Rewards Checking account to make your full monthly Axos Bank consumer mortgage, personal, or auto loan payment.
Min. to earn: Monthly direct deposits totaling at least $1,500
|
Rating image, 4.25 out of 5 stars.
4.25/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Monthly direct deposits totaling at least $1,500
|
Cash in on up to a $500 bonus† and up to 3.30% APY* with a new Rewards Checking account. Just use promo code RC500 before July 31.
|
offer alert
Cash in on up to a $500 bonus† and up to 3.30% APY* with a new Rewards Checking account. Just use promo code RC500 before July 31.
|
|
Quontic High Interest Checking
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
up to 1.10%
Min. to earn: $1
|
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
$1
|
High APY when you complete 10 or more qualifying debit card purchases each month
|
High APY when you complete 10 or more qualifying debit card purchases each month
|
|
E*TRADE Max-Rate Checking
Member FDIC.
Rating image, 4.25 out of 5 stars.
4.25/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
3.00%
Min. to earn: $0.01
|
Rating image, 4.25 out of 5 stars.
4.25/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
$0.01
|
N/A
|
||
Member FDIC.
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
1.00%
Rate info
APY = annual percentage yield
Min. to earn: $0
|
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
$0
|
N/A
|
||
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
0.10%
Min. to earn: $1
|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
$1
|
N/A
|
||
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Up to 0.15%
Min. to earn: $2,500
|
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
$2,500
|
N/A
|
A checking account is a bank account designed for spending. Most checking accounts come with a debit card. Account holders can also take advantage of online bill pay services.
You can open a checking account online or in-person, through both traditional brick-and-mortar banks and an increasing number of online financial institutions.
Here are a few reasons to open a checking account, whether it be a high-interest online checking account or one from a traditional brick-and-mortar bank:
Here are some of the more common checking account fees you might see:
You'll probably use your checking account a lot, so choosing the right one is important. Here are the basic questions you should ask to compare checking accounts:
If you can't decide between two similar checking accounts, look for extras that make one stand out. For example, some banks offer cash back on debit card purchases or out-of-network ATM fee reimbursements.
And remember: The best checking account offers for you might be different from the best checking account offers for your neighbor. Think about your lifestyle before deciding which account has the best bonus for your money.
Here's some important checking account terminology you should be familiar with:
Debit card | A payment card that's linked to a checking or savings account. Debit card transactions are approved based on the current balance of your account, and the money is immediately deducted. |
PIN (personal identification number) | A number that's typically four to six digit and is used to identify you when using your debit card for ATM withdrawals or in-store purchases. |
Insufficient funds | If you write a check or attempt to spend more money than you have in your checking account, the transaction may be rejected for insufficient funds. |
Overdraft | The result of a transaction that causes your account to have a negative balance. Overdrafts usually carry fees. |
Mobile or remote deposit | Most checking accounts allow customers to make check deposits from their smartphone or other mobile device by uploading a photo of the check, thereby saving a trip to the bank. |
A checking account is great for paying bills, because it's easy to get money in and out of a checking account. Savings accounts tend to earn more interest, which make them perfect for saving money over long periods of time.
High-yield savings accounts typically have higher APYs, which makes them a better choice for an emergency fund or other cash you don't anticipate using anytime soon but don't feel comfortable investing. But savings accounts also have restrictions that limit the number of withdrawals you can make per month and the ease of access you have to your money.
Checking accounts are intended to be spending accounts used for everyday purchases. They have fewer limitations on the number of payments or withdrawals you can make each month. But they usually don't have a high APY like savings accounts do, even if they are high interest.
At The Motley Fool Ascent, we rate checking accounts on a five-star scale (1 = poor, 5 = best). We evaluate all checking accounts across four main criteria: brand and reputation, APY and rewards, fees and minimum requirements, and perks.
Our scores are weighted as:
Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering standout features. Learn more about how The Motley Fool Ascent rates bank accounts.
Here are the 100+ financial institutions we've evaluated in our research:
Alliant, Ally, All America Bank, American First Credit Union, American Express® National Bank, Arvest Bank, Aspiration, Axos Bank, B2 Bank, Bank of America, Bank5 Connect, Bank7, Barclays, Bask Bank, Betterment, Bluevine, BMO, Bread Financial, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIT, Citibank, Citizens Bank, Citizens Savings Bank, Columbia Bank, Connexus Credit Union, Consumers Credit Union, Copper, Cross River Bank, Customers Bank, Discover® Bank, E*TRADEEdward Jones, EverBank, Fidelity, Fifth Third Bank, First Foundation Bank, First Internet Bank of Indiana, First National Bank, First Tech Federal Credit Union, Flushing Bank, Freedom Bank, Generations Bank, GN Bank, Golden 1 Credit Union, Greenlight, Harborstone Credit Union, HSBC, Huntington Bank, Ivella, Jenius Bank, Kabbage by American Express, KeyBank, Laurel Road, LendingClub, Liberty Bank, Liberty Federal Credit Union, Marcus by Goldman Sachs, Mercury, Municipal Credit Union, Mutual of Omaha, My Banking Direct, NASA Federal Credit Union, Nationwide Bank, Navy Federal Credit Union, NBKC Bank, New York Community Bank, NexBank, Northpointe Bank, Novo, OceanFirst Bank, Old National Bank, ONE Finance, OneUnited Bank, Oxygen, Pacific Western Bank, PNC Bank, Ponce Bank, Popular Direct, Presidential Bank, Prime Alliance Bank, Quontic, Radius, Raisin, Redneck Bank, Regions Bank, Relay, Republic Bank of Chicago, Revolut, Salem Five Bank, Sallie Mae, Santander Bank, SchoolsFirst Federal Credit Union, Simple, SoFi, Synchrony Bank, Tab Bank, TD Bank, Third Federal, Truist Bank, U.S. Bank, UFB, Upgrade, USAA, Valley Bank, Vanguard, Varo Bank, Vio Bank, Wealthfront, Wells Fargo, Western Alliance Bank, and Zeta.
A checking account is a bank account designed for spending. Most checking accounts come with a debit card. Account holders can also take advantage of online bill pay services.
It contrasts with a savings account, which is intended for -- yes -- saving. Savings accounts usually don't have debit cards, because banks don't expect you to spend the money in your savings account.
You can open a checking account online or in person, through both traditional brick-and-mortar banks and an increasing number of online financial institutions (like that new banking app your coworker won't stop raving about).
Checking account costs vary dramatically. Some have multiple fees, such as maintenance charges, overdraft fees, and ATM fees, while others are entirely fee free.
Some checking accounts, especially those offered by online banks, earn interest on deposits. But it's usually a small amount.
While some banks offer checking accounts with rewards, not all of them do. If earning rewards is important to you, make sure any bank or credit union you're considering offers this opportunity.
Rules vary based on the financial institution. Conditions for earning a bonus may include:
You can see even more checking account options on our Best Checking Account Promotions page.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.