Many or all of the offers on this site are from companies from which Insider receives compensation (for a full list see here). Advertising considerations may impact how and where products appear on this site (including, for example, the order in which they appear) but do not affect any editorial decisions, such as which products we write about and how we evaluate them. Personal Finance Insider researches a wide array of offers when making recommendations; however, we make no warranty that such information represents all available products or offers in the marketplace.
Our experts answer readers' banking questions and write unbiased product reviews (here's how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.
Checking accounts are optimal tools for everyday expenses and transactions. We reviewed over 30 financial institutions to find banks that offer strong checking accounts with minimal bank fees and features like free overdraft protection and waived ATM fees. Some even have unique features, such as cash-back rewards or a high interest rate.
Alliant is one of the best credit unions out there, especially if you want to earn high interest rates on savings, checking, and certificates.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
0.25%
Minimum Deposit Amount
up to $25
Editor's Rating
4.5/5
4.5 out of
5 Stars
Pros & Cons
Pros
Earn interest
No minimum opening deposit
No monthly service fees
$20/month in out-of-network ATM fee refunds
No overdraft fees
No incoming wire transfer fee
Cons
Compounds interest monthly, not daily
$25 outgoing wire transfer fee
Highlights
More Information
Several ways to become a member; the easiest is to join Foster Care to Success (Alliant will cover your $5 membership fee)
80,000+ free ATMs
Alliant does not charge overdraft fees; you can overdraw, but you will not pay a fee. You may also link checking to a savings account and select for funds to automatically transfer to cover overdrawn amount.
Betterment Checking Account is best if you mainly use direct deposits; it could be a good fit if you deposit paper checks, depending on whether you're eligible and how much you need to deposit.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
None
Editor's Rating
4.25/5
4.25 out of
5 Stars
Pros & Cons
Pros
No minimum opening deposit
No monthly service fees
Reimburses all ATM fees
Reimburses all foreign transaction fees
No overdraft fees
Earn cash back rewards
Cons
No physical branch locations
You won't earn interest without a Cash Reserve account
Mobile check deposit is limited to certain customers
You can only deposit $1,500 in paper checks per day
No way to deposit cash
Highlights
More Information
No ATM network, but all ATM and foreign transaction fees are reimbursed
By linking to a Betterment Cash Reserve Account (Member FDIC), you can set up the "two-way sweep," which helps you earn more interest and set up overdraft protection
Earn cash back rewards, powered by Dosh
You can use mobile check deposit if a) you've been a Betterment customer for at least 30 days, and b) you have received at least $500 in direct deposits in the last month
Capital One is a strong bank overall. You'll earn competitive interest rates on online savings accounts and CDs.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
0.10%
Minimum Deposit Amount
$0
Editor's Rating
4.5/5
4.5 out of
5 Stars
Pros & Cons
Pros
0.10% APY on all account balances
No opening deposit or minimum account balance
No monthly service fee
No foreign transaction fee
Range of overdraft protection options
Processes direct deposits up to 2 days early
Cons
Doesn't reimburse out-of-network ATM fees
Limited access to customer service by phone
Highlights
More Information
Earn a $350 bonus after opening a new account by 10/18/2023 using the promo code BONUS350 and completing two direct deposits each worth $250 or more within 75 days of account opening
Over 70,000 free ATMs nationwide
Branches in NY, LA, TX, MD, VA, NJ, and Washington, DC
Chime has one of the best checking accounts out there, but it doesn't offer joint accounts or pay the best savings rate. Its strongest feature is that it's great for people who might not qualify to open accounts elsewhere — it doesn't check your credit score or banking history when you apply for a checking account, savings account, or credit card. It also provides several credit-building tools.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
Editor's Rating
4/5
4 out of
5 Stars
Pros & Cons
Pros
No minimum opening deposit
No monthly service fees
Receive your paycheck up to 2 days early
Rounds debit card purchases up to the nearest dollar and puts spare change in your Chime Savings Account
No overdraft fees for overdrafts up to $200 with SpotMe, if you qualify
No foreign transaction fees
Request checks be sent to recipients online
Can deposit cash at select retailers
Cons
$2.50 out-of-network ATM fee
No overdraft protection for overdrafts exceeding $200
No physical checkbook
Highlights
More Information
38,000+ free ATMs nationwide through MoneyPass® and Visa® Plus Alliance
Free cash deposits at Walgreens; May deposit cash at other select retail locations but you may be charged a fee
Rounds debit card purchases up to the nearest dollar and moves spare change into your Chime Savings Account
Qualify for SpotMe overdraft protection by receiving $200 in direct deposits per month
Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.
Consumers Credit Union Free Rewards Checking Account
Insider’s Take
You'll find Consumers Credit Union appealing if you enjoy online banking or live near Chicago, Illinois. The credit union has one of the best high-yield checking accounts right now, with a low minimum opening deposit and zero monthly fees.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
0.01% to 5.00%
Minimum Deposit Amount
$5
Editor's Rating
3.75/5
3.75 out of
5 Stars
Pros & Cons
Pros
High APY
$5 minimum opening deposit
No monthly service fee
Early direct deposit
Unlimited reimbursements for out-of-network ATM fees
Cons
$10 overdraft transfer charge
Limited customer support availability
Interest compounds monthly, not daily
Highlights
More Information
To become a member of Consumers Credit Union, pay an initial $5 membership fee and open the Membership Savings Account with at least $5
14 open branches in Chicago, Illinois, and nearby cities
Access to over 5,600 shared branches and 60,000 surcharge-free ATMs through the CO-OP Shared Network
Earn 3.00% APY on balances up to $10k when you enroll in eDocuments, make 12 debit card transactions per month, and receive $500 per month in deposits
Earn 4.00% on balances up to $10k when you meet qualifications for 3.00% and spend $500/month with your CCU credit card
Earn 5.00% on balances up to $10k when you meet qualifications for 3.00% and spend $1,000/month with your CCU credit card
Earn 0.20% APY on balances between $10k and $25k
Earn 0.10% APY on balances over $25k
If you don't meet the requirements to earn a rewards interest rate, you'll earn 0.01% APY and you won't get ATM refunds
Discover is a strong online bank. However, if you'd prefer to open an CD or money market account with a low minimum opening deposit, you might consider other options.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
Editor's Rating
4.25/5
4.25 out of
5 Stars
Pros & Cons
Pros
Earn up to 1% cash back on up to $3,000 in purchases per month
No monthly service fee
Over 60,000 ATMs
Early direct deposit
Enroll in free overdraft protection
Cons
Debit card can only be used in the US, Canada, Mexico, and the Caribbean
Only 1 branch location
Highlights
More Information
Earn 1% cash back on up on up to $3,000 per month in eligible debit card purchases
100% US-based customer service available 24/7
No opening deposit or minimum account balance
No monthly maintenance fees
Over 60,000 ATMs
FDIC insured
LendingClub Rewards Checking Account
4.25/5
Annual Percentage Yield (APY)
0.00% to 0.15%
Minimum Deposit Amount
$25 to open, $2,500 to earn interest and 1% cash back on purchases
Quontic pays high interest rates overall, but be sure you're eligible to earn the best rates on its high-yield interest checking and money market accounts.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$100
Editor's Rating
3.5/5
3.5 out of
5 Stars
Pros & Cons
Pros
High cash-back rewards
No monthly service fees
No out-of-network ATM fees
Cons
$100 minimum opening deposit
$35 overdraft fee
Doesn't reimburse any fees charged by out-of-network ATM providers
Highlights
More Information
Over 90,000 free ATMs
1% cash back on all eligible debit card purchases
There's a rewards limit of up to $50 per statement cycle
Redneck Bank is a good option if you're looking for a high-yield checking account or money market account with competitive interest rates. The main downside is its tiered rate system, which sees your APY drop if your account goes above a certain balance threshold. You may be eligible for the best rates if you keep $15,000 or less in checking, and $100,000 or less in the money market account.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
0.25% to 5.30%
Minimum Deposit Amount
$500
Editor's Rating
3.75/5
3.75 out of
5 Stars
Pros & Cons
Pros
High bonus interest rate on account balances up to $15,000
Up to $25 per month in ATM fee refunds if you qualify for the bonus rate
No monthly service fees
Overdraft protection available
Cons
$500 minimum opening deposit
$25 overdraft fee
Highlights
More Information
Bonus interest rate of 5.30% APY on account balances up to $15,000 and 0.50% APY for amounts over $15,000
Standard interest rate of 0.25% APY
To earn the bonus interest rate, make 10 qualifying debit card transactions per monthly statement cycle and receive online bank statements
If you qualify for the bonus interest rate, you may also be eligible for up to $25 in ATM fee refunds per month
Upgrade is a good option if you're looking for free checking, cash back on debit card purchases, and competitive high-yield savings account interest rates — but you'll have to meet certain requirements to get the best perks.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
Editor's Rating
4.25/5
4.25 out of
5 Stars
Pros & Cons
Pros
No minimum balance requirements
No monthly service fees
No overdraft fees
No transfer fees
No ATM fees
Can earn 2% cashback on everyday expenses (up to $500 per year) and 1% on any other debit card charges
Reimburses some ATM fees charged by other financial institutions (up to 5 withdrawal per month)
Cons
Need to meet certain requirements each month to be eligible for ATM fee reimbursements
No overdraft protection
Highlights
More Information
To maintain an activity qualifying Rewards Checking Account and obtain rewards like ATM fee reimbursements and loan discounts, you must meet one of the following requirements: 1) have an average daily balance of $2,500 or more, 2) receive direct deposits totaling $1,000 or more each month, or 3) make at least 8 debit card purchases
The Wealthfront Cash Account is a solid high-yield checking account. But if you're looking to open a separate savings account, take a look at our best high-yield savings accounts guide.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
4.80%
Minimum Deposit Amount
$1
Editor's Rating
4.25/5
4.25 out of
5 Stars
Pros & Cons
Pros
Use as both a savings and checking account
$1 opening deposit
No monthly service fees
FDIC insured up to $5 million for individual Cash Accounts ($10M for joint accounts) through partner banks
Get paid 2 days early
Access to a debit card
Mobile check deposit
Automatically move extra money into investments with Autopilot
Save for separate goals in one account
Cons
No physical branch locations
To deposit cash, pay a fee at a Green Dot location
$2.50 out-of-network ATM fee
Highlights
More Information
FDIC insured up to $5 million for individual Cash Accounts ($10M for joint accounts) through partner banks
19,000 free ATMs
Autopilot feature lets you set maximum account balance, and automatically transfers money into investments if you exceed maximum balance by more than $100
A checking can be used as a tool for managing transactions and monitoring spending. A traditional checking account usually comes with several ways to access money in your account, like checks or a debit card.
What are the best banks for checking accounts?
The best banks for checking accounts will usually have minimal bank fees, like monthly service, overdraft fees, and out-of-network ATMs. The most suitable option for you might also depend on whether you're looking for special perks, like a cash bonus, interest, or cash-back rewards.
Can I open a second checking account at the same bank?
Many banks allow you to open more than one checking account, but it's usually unnecessary unless you need an individual account and a joint account.
Is it bad to have multiple checking accounts?
It's not bad to have multiple checking accounts, but it's usually not necessary. A checking account should hold cash that you are using to cover your expenses each month and no more than that. Any excess cash is best stored in a high-yield savings account, where it can earn up to 200 times more interest than a checking account, or in an investment account.
Which type of bank account is best for everyday transactions?
Typically, a checking account is the best type of account for regular purchases. Checking accounts typically don't have a limit on how often you can make transactions like savings and money market accounts do.
With no monthly service fees, no foreign transaction fees, and a variety of overdraft options, Capital One is one of the strongest free checking accounts out there. The bank has access to over 70,000 MoneyPass® or Allpoint® ATMs and connects to Zelle for digital money transfers. All balances earn 0.10%.
What to look out for: Though Capital One Cafés are popping up in big cities around the US, the bank only operates approximately 285 branches in seven states.
You might like Discover if you want a rewards checking account that doesn't charge overdraft fees or non-sufficient funds fees. The Discover Cashback Debit Account also lets you earn 1% cash back on up to $3,000 of purchases per month.
What to look out for: If you don't sign up for overdraft protection, any transactions that would result in a negative balance in your account would be denied.
The LendingClub Rewards Checking Account account gives you the opportunity to earn both cash-back rewards and interest if you maintain a $2,500 balance. You can earn cash back on an unlimited amount each month, and you'll earn up to 1% on select purchases.
What to look out for: You must have $2,500 to make the most of your checking account. LendingClub also compounds interest monthly rather than daily, which will affect how much you earn in the long run.
If you're looking for a rewards checking account, the Quontic Cash Rewards Checking Account could be a good choice. You'll earn 1% cash back on debit card transactions, up to $50 in cash-back rewards per statement cycle.
What to look out for: ATM withdrawals or PayPal transfers aren't considered eligible debit card transactions for earning cash back.
You'll also need at least $100 to open an account. If you'd prefer to make a lower initial deposit, consider one of the other options on our list.
You might find Redenck Bank appealing if you're looking to earn a high interest rate on a checking account. Redneck Bank pays a bonus interest rate of 5.30% APY on account balances up to $15,000, and 0.50% APY on amounts over $15,000. To qualify for the bonus rate, you'll have to make 10 qualifying debit card transactions per monthly statement cycle and receive online bank statements.
What to look out for: If you do not meet the monthly requirements, you'll earn a standard rate of 0.25% APY. Redneck Bank also requires a steep minimum opening deposit of $500 to open the Redneck Bank Rewards Checking Account. You might prefer another financial institution if you'd like to open an account with less money upfront.
Charles Schwab doesn't charge ATM fees, and the bank offers unlimited refunds worldwide when an ATM provider charges you a fee. Charles Schwab also doesn't charge foreign transaction fees, and it has free overdraft protection.
What to look out for: You must open a brokerage account with Charles Schwab before opening a checking account.
Alliant ranks as one of our picks for the best credit unions, so if you prefer a credit union over a bank, then this checking account could be a good choice. You don't need to meet any qualifications to earn interest. Alliant's free network includes over 80,000 ATMs, and the credit union reimburses up to $20 per month in fees charged by out-of-network ATM providers. Alliant does not charge overdraft fees should you overdraw your account.
What to look out for: Like many credit unions, Alliant compounds your interest monthly rather than daily, which will limit how much you earn.
You'll get the most out of the account if you do the following:
Earn 3.00% APY if you have less than $10,000 when you sign up to receive eDocuments, make 12 monthly debit card purchases, and receive $500 in monthly direct deposits, mobile check deposits, or transfers from other banks
Earn 4.00% APY if you meet the requirements to earn 3% and spend $500 per month with your Consumers Credit Union Credit Card
Earn 5.00% APY if you meet the requirements to earn 3% and spend $1,000 per month with your Consumers Credit Card
Earn 0.20% APY if you have an account balance between $10,000.01 and $25,000 when you receive eDocuments, make 12 monthly transactions, and receive $500 per month in direct deposits, mobile check deposits, or transfers from other banks
Earn 0.10% APY if you have an account balance over $25,000 when you receive eDocuments, make 12 monthly transactions, and receive $500 per month in direct deposits, mobile check deposits, or transfers from other banks
Otherwise, you'll only earn 0.10% APY on your account balance.
Anyone in the US is eligible for membership online as long as you pay a one-time $5 membership fee to the Consumers Cooperative Association and open the Consumers Credit Union Membership Share Savings Account with at least $5.
If you want to invest and save at the same place, the Betterment Checking Account is a solid option. Betterment doesn't charge overdraft fees and offers unlimited reimbursements for ATM fees.
What to look out for: The amount you'll earn in cash back for a particular purchase may vary depending on the business.
Betterment only offers a checking and cash reserve account. If you'd like to open CDs or a money market account, you might prefer a bank or credit union instead.
Chime checking accounts do not require a credit check or review by ChexSystems, so it could be a good option if you're searching for a second chance bank account.
You can use 38,000 ATMs for free. Chime doesn't charge foreign transaction fees. You can receive your paycheck up to two days early. If you also have a high-yield Chime Savings Account, then you can round each debit card purchase up to the nearest dollar and automatically put the spare change into savings.
What to look out for: Chime's SpotMe feature allows you to overdraw by up to $200 with no overdraft fee — but you must receive at least $200 in direct deposits each month to qualify for SpotMe. Any transactions that overdraw more than $200 won't be processed. You'll just be denied the purchase.
Upgrade Rewards Checking lets you earn 2% cash back on everyday debit card purchases and payments on utilities and monthly subscriptions. Any other debit card purchases can earn 1% cash back. Upgrade describes an everyday purchase as an online or in-person purchase at a convenience store, drugstore, restaurant, bar, or gas station.
The 2% cash back perk has a limit of $500 per year. Once you reach the annual limit, you'll get 1% cash back on all eligible purchases for the rest of the year.
What to look out for: To get the most out of the Upgrade Rewards Checking Account, like ATM fee reimbursements and loan discounts, you'll have to maintain a $2,500 daily checking account balance, receive at least $1,000 in direct deposits each month, or make eight or more monthly debit card purchases. Otherwise, you won't qualify for these perks.
Money transfers, ATM transactions, check purchases, gift cards, foreign currency, money orders, refunds, or fraudulent transactions aren't eligible for any cash back rewards.
Why it stands out: You can receive your paycheck up to two days early. You don't need to meet any qualifications to earn interest on your balance. Set the maximum amount you want in your account through Wealthfront's Autopilot feature. When your balance exceeds that amount by over $100, Wealthfront will move the excess funds into a Wealthfront investment account.
What to look out for: Wealthfront doesn't charge overdraft fees, but this also means you don't even have the option to overdraw from the account. Your purchase would just be denied.
There are four types of checking accounts: regular checking accounts, high-interest checking accounts, cash-back checking accounts, and specialty checking accounts. Here's an overview of each type of checking account:
Regular checking: These are the standard checking accounts that you'd find at a brick-and-mortar bank.
High-interest checking: A high-interest checking account helps you earn interest on your checking account balance. High-interest checking accounts are commonly found at online banks or credit unions.
Cash-back checking: Cash-back checking accounts offer a percentage of cash back on debit card purchases.
Specialty checking: These are checking accounts specifically tailored for a particular demographic. For example, some banks offer student checking accounts or senior checking accounts.
The best checking account for you may hinge on your banking preferences and goals. For example, if you regularly maintain a high checking account balance, the best high-yield checking accounts may be appealing options.
Other Checking Accounts We Considered
The following our checking were considered for top picks, but we ultimately didn't choose them. You may still want to consider some of these options, depending on your preferences:
Chase Total Checking®: Chase is a popular brick-and-mortar bank. None of Chase's checking accounts made our list because they have monthly service fees unless you qualify to waive them.
Axos Bank Rewards Checking: Axos offers a good interest rate, but some of our top picks have even higher interest rates or lower minimum opening deposits.
Ally Spending Account: This is a solid online checking account that pays interest on your balance, but its features aren't as unique as what you'll find with some of our top picks.
Fidelity Cash Management Account: This is a good free account that combines saving, spending, and investing features. The interest rate isn't as high as what you'll earn with other high-yield checking accounts, though.
CIT Bank eChecking Account: The minimum opening deposit for this account is $100 and it only offers up to $15 of fee-free ATM visits a month; otherwise it's a fine account earning 0.10% APY on balances below $25,000.
TD Bank Beyond Checking Account: This account is favorable for people with high balances. Non-TD ATM fees are reimbursed, but only with a $2,500 minimum daily balance.
PNC Virtual Wallet® with Performance Spend: In order to waive the $15 monthly fee, you need $2,000 or more in monthly direct deposits, or a $2,000 average balance, or $10,000 in all PNC deposit accounts. Branch access is limited to the Eastern US.
HSBC Premier Checking: To become an HSBC Premier client and avoid a $50 monthly service fee, you have to keep $75,000 in bank/investment accounts, receive $5,000 in direct deposits each month, or take out a mortgage of at least $500,000.
Axos Bank Essential Checking: A solid online-only checking account with unlimited ATM fee reimbursement, but nothing extra special.
Axos Bank Rewards Checking: This account offers up to 1% cash back on purchases (you can earn up to $2,000 per month), but doesn't count transactions from grocery stores and requires an average daily balance of $1,500 to earn the cash back. If your balance falls below that limit, you get 0.50% cash back.
TIAA Bank Basic Checking: A solid account that waives the already low $5 fee with a daily average balance of $25. To enjoy unlimited ATM reimbursement, however, you need to keep an average daily balance of at least $5,000.
TIAA Yield Pledge® Checking Account: No monthly service fees and all balances earn a competitive APY for the first year; after that, the rate drops. To enjoy unlimited ATM reimbursement you need to keep an average daily balance of at least $5,000. You also need at least $100 to open the account.
Acorns Spend Account: When you swipe your Acorns Spend debit card, Acorns will round your purchase up to the nearest dollar and immediately transfer the spare change to your Acorns Invest Account.
USAA Classic Checking: USAA is specifically for military members and family, and new recruits get paid a day early with a checking account.
Varo Bank Account: This is a solid checking account with no monthly fees, but Varo will charge you for using an out-of-network ATM.
Aspiration Account: You have the option to plant a tree every time you swipe your debit card, and you can earn 3% to 5% cash back when you shop at companies like TOMS and Blue Apron.
Aspiration Plus Account: You'll receive 10% cash back on select purchases and earn interest on your balance, but there's a monthly fee.
First Tech Rewards Checking®: This is a good high-yield checking account, but you have to meet certain requirements to become a member of the credit union.
Bank Trustworthiness and BBB Ratings
The Better Business Bureau assigns companies grades, ranging from F to A+. A strong BBB score indicates a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices. The only institution on our list that hasn't received a BBB rating yet is Redneck Bank.
Here are the BBB grades for our top picks:
Institution
BBB
Capital One 360
A+
Betterment
F
Discover Bank
A+
Upgrade
A+ (C- rating from partner bank)
Charles Schwab
A+
Consumers Credit Union
A+
LendingClub Bank
A
Quontic
A+
Chime
B-
Alliant Credit Union
A+
Wealthfront
F
Wealthfront, Betterment, and Chime BBB ratings can be attributed to a high volume of customer complaints and several unresolved customer complaints.
Upgrade received an A+ rating from the BBB. Its partner bank, Cross River Bank, received a C- rating because it has received a high volume of customer complaints on the BBB website, and it has seven unresolved complaints.
LendingClub has an A grade due to government action against the business.
A strong BBB grade doesn't guarantee you'll have a smooth relationship with a company, though.
Capital One, LendingClub, and Chime have been involved in recent public controversies.
In 2020, Capital One paid $80 million after the Office of the Comptroller of the Currency stated that the bank was partially responsible for a 2019 data breach in which a hacker accessed over 100 million credit card applications. The OCC said Capital One's security was inefficient at the time.
In July 2021, LendingClub Corporation paid $18 million in a settlement with the Federal Trade Commission when accused of deceptive lending practices that charged consumers hidden fees and said they were approved for loans even when they weren't.
Chime used the URL "Chimebank.com" and the words "bank" and "banking," but Chime isn't licensed as a bank. Chime is a banking platform, and is insured by a bank. In 2021, the Commissioner of Financial Protection and Innovation ordered Chime to stop using the terms "Chimebank.com," "bank," and "banking" on its webpage and advertisements.
Why You Should Trust Us: Our Expert Panel for the Best Checking Accounts
We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best checking accounts for your needs.
Here's what they had to say about checking accounts. (Some text may be lightly edited for clarity.)
What are some good qualities to look for in a checking account?
"I would look at the ATM branch locations and then minimum balance amounts to not incur a monthly fee … I think there's other stuff that could make life easier, whether it's a free checks, online bill pay, are they in the Zelle network?"
Sophia Acevedo, certified educator in personal finance, banking reporter, Personal Finance Insider:
"I would look for a checking account that either doesn't have any monthly services fees or offers multiple ways to waive the fee. I would also look at customer support availability and mobile app ratings."
How can someone find the right bank?
Tania Brown, certified financial planner at SaverLife:
"Obviously, you want to make sure it's FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you're okay online. Do you write checks? Do you not write checks? So it's thinking through how your experience with it is going to be before you make that decision."
"The No. 1 thing about a checking account is you should know what provider the debit card is coming from. And a lot of people don't think about that, because there are places that don't accept MasterCard or don't accept an Amex."
Our Methodology: How We Chose the Best Checking Accounts
At Personal Finance Insider, we strive to help smart people make the best decisions with their money. We spent hours comparing and contrasting the features and fine print of nearly three dozen checking accounts available at over 20 national and online-only banks so you don't have to. Read more about how we rate and review products on Personal Finance Insider's editorial standards page.
We understand that "best" is often subjective, however, so in addition to highlighting the clear benefits of a checking account — no fees, for example — we outline the limitations, too.
We considered offerings at over 20 financial institutions using our checking account methodology to determine the strongest options for the best checking accounts.
We gave precedence to no-monthly-fee checking accounts or those with the option to waive monthly fees with qualifying activities, overdraft protection options, widespread ATM access and/or reimbursement for ATM fees, and mobile banking capabilities.
Sophia Acevedo is a banking reporter at Insider. She covers bank reviews, banking guides, and banking and savings articles for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF).Sophia joined Insider in July 2021 and is an alumna of California State University Fullerton where she studied journalism and minored in political science. She is based in Los Angeles. You can reach out to her on Twitter at @sophieacvdo or email sacevedo@insider.com.Read more about how Personal Finance Insider chooses, rates, and covers financial products and services >>Below are links to some of her most popular stories:
Evelyn He is a compliance associate at Insider who supports the Personal Finance Insider team. Personal Finance Insider is Insider's personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that Insider readers already know and love.The compliance team's mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.Before joining Insider, she served in various legal and compliance roles in different industries, including the legal and pharmaceutical industries. Evelyn obtained her M.S. degree in Marketing at Boston University in 2022. Prior to combining and consolidating her knowledge of law and business, she spent one year finishing 1L courses at Suffolk University Law School to further her legal knowledge. She has also completed MBA business law courses while working on her Bachelor of Business Administration in Management at the University of Massachusetts, Amherst. Outside of work, she enjoys spending time with her 14-year-old Shih Tzu named Money, and her 5-year-old Bichon named Tibber.
Top Offers From Our Partners
Betterment Cash Reserve Account
New Customer Offer: Earn 5.50% (variable) APY* when you open your first cash account with qualifying deposit
*The annual percentage yield (APY) on the deposit balances in Betterment Cash Reserve (Cash Reserve) is 4.75% and represents the weighted average of the APY on deposit balances at the banks participating in Cash Reserve (the Program Banks) and is current as of August 1, 2023. This APY is variable and subject to change daily. Deposit balances are not allocated equally among the participating Program Banks. A minimum deposit of $10 is required, but there is no minimum balance required to be maintained. The APY available to a customer may be lower if that customer designates a bank or banks as ineligible to receive deposits. APY applies only to Cash Reserve and does not apply to checking accounts held through Betterment Checking. Cash Reserve and Betterment Checking are separate offerings and are not linked accounts.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
Newsletter
Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily.
Thanks for signing up!
Access your favorite topics in a personalized feed while you're on the go.