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6 Best Checking Accounts of December 2022

Dec 5, 2022

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To get the most from your checking account, you need low fees, good customer support and free ATMs nearby. If you earn interest on your cash, even better.

Why trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.

NerdWallet staff analyzed, compared and rated dozens of institutions, including banks, nonbanks and credit unions, before selecting the checking accounts that offer the best combination of consumer-friendly features. (Nonbanks provide many of the same services that traditional institutions offer, but are not technically banks.) Some of these providers are NerdWallet partners, which was not a factor in our evaluations.

APYs shown are current as of December 5, 2022. All other information is current as of December 1, 2022.

Best Checking Accounts

SoFi Checking and Savings
Learn more

at SoFi, Member FDIC

SoFi Checking and Savings

5.0

NerdWallet rating 
SoFi Checking and Savings

Monthly fee

$0

APY

2.50%

With $0 min. balance for APY

Bonus

$250

Earn up to $250 with direct deposit. Terms apply.

Learn more

at SoFi, Member FDIC


Bonus

$250

Earn up to $250 with direct deposit. Terms apply.

Why we like it

SoFi’s Checking and Savings account earns a 2.50% APY (variable and subject to change) on the balance in its checking portion and a 3.25% APY (variable and subject to change) in its savings portion — as long as you set up direct deposit. There’s no minimum direct deposit amount to earn interest or to get your paycheck two days early, but you’ll need a minimum monthly direct deposit of $1,000 to qualify for overdraft coverage and protection. Without direct deposit, all balances in SoFi Checking and Savings earn 1.20% APY (variable and subject to change).

SoFi is part of the Allpoint network, so customers have access to more than 55,000 ATMs for cash withdrawals.

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Axos Bank® Rewards Checking
Learn more

at Axos Bank®, Member FDIC

Axos Bank® Rewards Checking

5.0

NerdWallet rating 
Axos Bank® Rewards Checking

Monthly fee

$0

APY

1.25%

With $0 min. balance for APY

Bonus

$150

Earn $150 with direct deposit. Terms apply.

Learn more

at Axos Bank®, Member FDIC


Bonus

$150

Earn $150 with direct deposit. Terms apply.

Why we like it

Rewards Checking has no minimum balance aside from a $50 balance required to open an account, and no monthly maintenance, overdraft or nonsufficient-funds fees. The account also has an annual percentage yield as high as 1.25% on up to $50,000, depending on your account activity. To start earning interest, you need to have at least $1,500 in monthly direct deposits. That earns you 0.40%. To earn the maximum APY, you have to: make 10 debit card purchases — with a minimum of $3 per transaction — or sign up for the Account Aggregation/Personal Finance Manager tool (earns 0.30%). You also need to have an average daily balance of $2,500 in a managed investment portfolio (earns 0.20%), have an average daily balance of $2,500 in a self-directed portfolio (earns 0.20%) and make a monthly Axos consumer loan payment from Rewards Checking (earns 0.15%).

In addition, Axos Bank (formerly Bank of Internet) offers unlimited domestic ATM reimbursements on several of its checking accounts, including this one.

Read Full Review

Connexus Credit Union Xtraordinary Checking

5.0

NerdWallet rating 
Connexus Credit Union Xtraordinary Checking

Monthly fee

$0

APY

1.75%

With $0 min. balance for APY

Bonus

N/A

Bonus

N/A

Why we like it

The Xtraordinary Checking account earns an APY as high as 1.75% for balances of up to $25,000. The credit union also gives up to $25 per month in rebates for out-of-network domestic ATM fees. In order to get these benefits, customers must meet certain criteria, including opting in for paperless statements and meeting some spending and deposit requirements. If the requirements aren’t met, you won’t earn interest that month.

Keep in mind that Connexus charges a $29.95 overdraft fee. Customers can, however, link a savings account to their checking account to cover any overdrafts for free.

Read Full Review

BMO Harris Bank Smart Advantage™ Account

5.0

NerdWallet rating 
BMO Harris Bank Smart Advantage™ Account

Monthly fee

$0

APY

N/A

Bonus

N/A

Bonus

N/A

Why we like it

BMO Harris' Smart Advantage Account has no monthly fee and broad, ATM access, with more than 40,000 free BMO Harris and Allpoint ATMs nationwide. The account doesn’t offer any interest, but new customers can earn a $200 cash bonus after they make $4,000 in qualifying direct deposits in the first 90 days. The minimum to open the account is $25, and the bank has a low $15 overdraft fee and multiple ways to avoid an overdraft fee, including free overdraft protection transfers and a grace period before being charged a fee.

Read Full Review

Capital One 360 Checking

5.0

NerdWallet rating 
Capital One 360 Checking

Monthly fee

$0

APY

0.10%

With $0 min. balance for APY

Bonus

N/A

Bonus

N/A

Why we like it

The Capital One 360 Checking Account has no monthly fees, and customers can access more than 70,000 free nationwide ATMs. There’s also no minimum to open or minimum balance requirements, and the account offers 0.10% APY on all balance tiers with no requirements. Capital One offers a few overdraft coverage options, including free overdraft protection transfers and no-fee overdrafts on Capital One-approved transactions.

Read Full Review

nbkc bank Everything Account

5.0

NerdWallet rating 
nbkc bank Everything Account

Monthly fee

$0

APY

1.26%

With $0 min. balance for APY

Bonus

N/A

Bonus

N/A

Why we like it

NBKC’s free Everything Account offers a 1.26% APY with no minimum opening deposit. NBKC is part of the MoneyPass network, which gives customers free access to more than 37,000 nationwide ATMs, and it also has a $12 per month reimbursement for out-of-network ATM fees.

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Frequently asked questions

What's the best checking account for me?

When choosing a new checking account, take a close look at fees, branch and ATM accessibility, and interest rate. People who do online banking should select an institution that offers a good website along with a mobile app that lets them deposit checks remotely.

As a rule, it’s a good idea to avoid checking accounts that charge — and don’t allow you to waive — fees.

» Looking for somewhere to stash your savings? Check out NerdWallet's picks for best savings accounts

Should I have more than one checking account?

Usually there won’t be many downsides to keeping multiple checking accounts open as long as you are able to meet the requirements of those accounts to avoid fees.

The number of checking accounts you should have is based on your personal situation. If you’re single, for example, you may be fine with just one checking account. If you’re married, you may want to have a personal account and a joint account that you share with your spouse. There are also a number of accounts that offer bonuses and promotions for opening an account, so if you’re able to juggle the requirements, you could make some extra cash by opening multiple accounts. You also may want to consider opening multiple checking accounts at different institutions for different uses, such as keeping an account at a provider that works well for international travel if you go out of the country a lot, or keeping a checking account open with the bank that handles your mortgage for faster payment transfers.

Last updated on December 5, 2022

You may also like these

People often identify opening a savings account as their next money move.

SoFi Checking and Savings

5.0

NerdWallet rating 
SoFi Checking and Savings

APY

3.25%

With $0 min. balance for APY

Bonus

$250

Earn up to $250 with direct deposit. Terms apply.

at SoFi, Member FDIC

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

3.00%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

at Discover Bank, Member FDIC

LendingClub High-Yield Savings

4.5

NerdWallet rating 
LendingClub High-Yield Savings

APY

3.60%

With $0 min. balance for APY

at LendingClub Bank, Member FDIC

Methodology

We took a close look at over 90 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.

Financial institutions and providers surveyed are: Affirm, Alaska USA Federal Credit Union, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank of the West, Bank5 Connect, Bank7, Barclays, Bask Bank, BMO Harris, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Commerce Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Delta Community Credit Union, Discover Bank, E-Trade, Fifth Third Bank, First Foundation, First National Bank, First Republic Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, GO2bank, Golden 1 Credit Union, Hope Credit Union, Huntington Bank, Industrial Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Nationwide (by Axos), Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Quontic Bank, Redneck Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, Scarlet, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, TIAA Bank, Truist Bank, U.S. Bank, UFB Direct, Union Bank, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank.

Frequently asked questions