12 Best Checking Accounts for June 14, 2024
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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.
» Looking for higher rates? See our list of the best cash management accounts
APYs shown are current as of June 14, 2024. All other information is current as of Apr. 28, 2024.
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.
» Looking for higher rates? See our list of the best cash management accounts
APYs shown are current as of June 14, 2024. All other information is current as of Apr. 28, 2024.
When shopping for a checking account, consider factors such as monthly fees, interest rates, overdraft policies, ATM fees and access to customer service. Make sure that you’re getting the features and services you want from your bank.
Best Checking Accounts for June 14, 2024
ELIGIBLE FOR REWARD
Bank/institution | NerdWallet rating | APY | Bonus | Monthly fee | Overdraft star rating | Learn more |
---|---|---|---|---|---|---|
SoFi Checking and Savings Learn more at SoFi Bank, N.A., Member FDIC | Best for Checking Accounts | 0.50% With $0 min. balance for APY | $300 Earn up to $300 with direct deposit. Terms apply. | $0 | 5.0/5 | Learn more at SoFi Bank, N.A., Member FDIC |
Axos Bank® Rewards Checking Learn more at Axos Bank®, Member FDIC | Best for Checking Accounts | 3.30% With $0 min. balance for APY | $300 Earn $300 with direct deposit. Terms apply. | $0 | 4.5/5 | Learn more at Axos Bank®, Member FDIC |
Discover® Cashback Debit Learn more at Discover® Bank, Member FDIC | Best for Checking Accounts | N/A | $360 Up to $360 per year. See website for details. | $0 | 4.5/5 | Learn more at Discover® Bank, Member FDIC |
nbkc bank Everything Account Learn more at nbkc bank, Member FDIC | Best for Checking Accounts | 1.75% With $0 min. balance for APY | N/A | $0 | 4.0/5 | Learn more at nbkc bank, Member FDIC |
Connexus Credit Union Xtraordinary Checking | Best for Checking Accounts | 1.75% With $0 min. balance for APY | N/A | $0 | 4.5/5 | Read review |
LendingClub Rewards Checking | Best for Checking Accounts | 0.10% With $2,500 min. balance for APY | N/A | $0 | 4.0/5 | Read review |
Schwab Bank Investor Checking™ | Best for Checking Accounts | 0.45% With $0 min. balance for APY | N/A | $0 | 4.5/5 | Read review |
American Express Rewards Checking | Best for Checking Accounts | 1.00% | N/A | $0 | 3.5/5 | Read review |
ZYNLO Bank More Spending Account | Best for Checking Accounts | 2.00% | N/A | $0 | 4.0/5 | Read review |
PNC Virtual Wallet® Checking Pro - Spend | Best for Checking Accounts | N/A | $200 Requirements to qualify | $0 | 4.0/5 | Read review |
Upgrade - Rewards Checking Plus | Best for Checking Accounts | N/A | N/A | $0 | 4.0/5 | Read review |
Laurel Road Loyalty Checking | Best for Checking Accounts | 0.01% With $0.01 min. balance for APY | $100 Requirements to qualify | $0 | 4.0/5 | Read review |
Our pick for
Checking Accounts
0.50%
With $0 min. balance for APY
$300
Earn up to $300 with direct deposit. Terms apply.
$0
5.0/5
Why We Like It
SoFi’s Checking and Savings account earns a 0.50% APY (variable and subject to change) on the balance in its checking portion.
Customers who set up direct deposit or who deposit at least $5,000 every 30 days into their account can also earn 4.60% APY on balances held in the savings portion of the account. Without direct deposit, savings would earn 1.20% APY.
There’s no minimum direct deposit amount to earn interest or to get your paycheck up to two days early, but you’ll need a minimum monthly direct deposit of $1,000 to qualify for overdraft coverage and protection.
SoFi is part of the Allpoint network, so customers can access more than 55,000 ATMs for cash withdrawals.
3.30%
With $0 min. balance for APY
$300
Earn $300 with direct deposit. Terms apply.
$0
4.5/5
Why We Like It
Rewards Checking has no minimum 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 3.30% on up to $50,000, depending on your account activity. To earn interest, you need 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 0.99%), have an average daily balance of $2,500 in a self-directed portfolio (earns 0.99%) and make a monthly Axos consumer loan payment from Rewards Checking (earns 0.60%).
New customers can qualify for a $300 bonus by having $5,000 or more in direct deposits and maintaining a minimum balance of $7,000 in the first seven months that the new account is open.
In addition, Axos Bank offers unlimited domestic ATM reimbursements on several of its checking accounts, including this one.
N/A
$360
Up to $360 per year. See website for details.
$0
4.5/5
Why We Like It
Discover® Cashback Debit lets you earn 1% cash back on up to $3,000 in qualifying debit card purchases each month (see website for details). The account also has no monthly fee, no monthly balance requirement and access to more than 60,000 fee-free ATMs. The bank also doesn’t charge overdraft fees; if you try to initiate a transaction that will result in an overdraft, Discover will pull that money from a designated funding account if you’ve enabled overdraft protection. If you haven’t enabled it, Discover will decline the transaction and you won’t be charged a fee. Users can also get their paychecks up to two days early via direct deposit.
Discover’s mobile banking apps have high customer ratings, which is helpful because the bank only has one physical branch, in Delaware.
1.75%
With $0 min. balance for APY
N/A
$0
4.0/5
Why We Like It
NBKC’s free Everything Account offers a 1.75% 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 offers up to $12 per month for reimbursement of out-of-network ATM fees.
0.45%
With $0 min. balance for APY
N/A
$0
4.5/5
Why We Like It
Charles Schwab’s Investor Checking account has no monthly fee or overdraft fees, and customers earn a 0.45% APY with no requirements. Customers also have access to unlimited ATM fee rebates and no foreign transaction fees, which makes this account great for frequent travelers.
1.00%
N/A
$0
3.5/5
Why We Like It
American Express Rewards Checking is available to American Express customers who have had a consumer credit card for at least three months. The account has a 1.00% APY interest rate and no monthly fees or minimum deposit requirements. Customers have access to more than 70,000 MoneyPass and Allpoint ATMs as well.
2.00%
N/A
$0
4.0/5
Why We Like It
Zynlo Bank customers can earn 2.00% APY on their spending account on any balance of a penny or more. There’s a $10 minimum opening deposit for the account and no monthly fee. Zynlo is part of the Allpoint network, so customers can access more than 55,000 free ATMs.
N/A
$200
Requirements to qualify
$0
4.0/5
Why We Like It
Virtual Wallet Checking Pro Spend is a non-interest bearing account, but new customers can earn a $200 bonus when they deposit $2,000 within the first 60 days. The account has no monthly fees, minimum deposit to open or minimum balance requirements. Customers can access more than 60,000 fee-free ATMs, and there is also an out-of-network ATM fee reimbursement of $20 per statement period. Availability may vary by location; you can check your eligibility on PNC’s website.
N/A
N/A
$0
4.0/5
Why We Like It
Upgrade gives customers 2% cash back — up to a maximum of $500 per year — on qualified purchases as long as they make at least $1,000 in direct deposits per month. If they don’t meet the direct deposit requirement, customers will earn 1% cash back. Qualified purchases include drug stores, restaurants, gas stations and other everyday places. After customers earn $500 in rewards, they will earn 1% cash back for the rest of the year on everyday purchases.
The account has no monthly fee, no overdraft fee and direct deposit up to two days early.
0.01%
With $0.01 min. balance for APY
$100
Requirements to qualify
$0
4.0/5
Why We Like It
Laurel Road’s Loyalty Checking account has no monthly fees, and customers have access to more than 40,000 fee-free ATMs. The account has a very low 0.01% APY, but customers can earn both a welcome bonus and monthly bonuses with qualifying direct deposits. The welcome bonus is $100 if a new customer makes direct deposits of at least $2,500 total in the first 60 days, and customers can earn $20 per month in the first year if they direct deposit at least $2,500 per month. After the first year, customers can earn $10 per month with the same direct deposit requirement.
Want to compare more options? Here are our other top picks:
Features of checking accounts | |
Do checking accounts pay interest? | Sometimes; typically minimal. |
Common fees |
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Typical features |
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Other benefits |
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Here is more information about checking accounts.
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. Also consider perks such as early access to direct deposits. 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. The rule remains true whether choosing a teen checking account, a college bank account or any checking account.
» Looking for somewhere to stash your savings? See 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 can meet the requirements of those accounts to avoid fees.
The number of checking accounts you should have is based on your 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 several 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 June 14, 2024
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, All America Bank, 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, Bank5 Connect, Bank7, Barclays, Bask Bank, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Climate First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Delta Community Credit Union, Discover® Bank, E*TRADE, EverBank (formerly TIAA Bank), Fifth Third Bank, First Foundation, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, Global Credit Union, GO2bank, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, Laurel Road Bank, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank.
To recap our selections...
NerdWallet's Best Checking Accounts for June 14, 2024
- SoFi Checking and Savings: Best for Checking Accounts
- Axos Bank® Rewards Checking: Best for Checking Accounts
- Discover® Cashback Debit: Best for Checking Accounts
- nbkc bank Everything Account: Best for Checking Accounts
- Connexus Credit Union Xtraordinary Checking: Best for Checking Accounts
- LendingClub Rewards Checking: Best for Checking Accounts
- Schwab Bank Investor Checking™: Best for Checking Accounts
- American Express Rewards Checking: Best for Checking Accounts
- ZYNLO Bank More Spending Account: Best for Checking Accounts
- PNC Virtual Wallet® Checking Pro - Spend: Best for Checking Accounts
- Upgrade - Rewards Checking Plus: Best for Checking Accounts
- Laurel Road Loyalty Checking: Best for Checking Accounts
Frequently asked questions
A checking account is an account offered by a bank, nonbank or credit union that allows a customer to deposit and withdraw money as well as make transactions through electronic payment, check, money order and/or with a debit card.
Here are NerdWallet's picks for the best checking accounts.
Some do, but interest rates are typically low for checking accounts. If you’re looking for a high annual percentage yield, you may want to consider one of NerdWallet’s picks for a high-yield savings account or a CD with a high rate instead.
Prepaid debit cards and checking accounts are similar in that you have an account with a certain balance to make purchases. Most prepaid debit cards, however, have no overdraft programs or related fees. Checking accounts traditionally have overdraft services that let you spend more than you have in your account in exchange for what can be steep fees.
Make a list of that account’s recurring deposits and payments. Then, arrange to have future scheduled deposits sent to a new account and to have recurrent bill payments or transfers drawn from that account.
Wait for any outstanding charges or payments to clear the old account. This will take a month or two, and you'll want to ensure that the new account arrangements have kicked in. When that has happened, withdraw any remaining funds from your old bank and get a written confirmation of closure from a bank manager.
Get rid of unnecessary apps and items from your old account. At your convenience, you can remove the bank’s app from your phone and shred any remaining paper checks from the old account.
Some institutions offer sign-up bonuses when you open a new account. To qualify, you typically have to be a new customer and keep your checking account open for at least three months to a year. You will also have to meet other requirements, such as receiving direct deposits or using a linked debit card a certain number of times each month.
It’s possible that you are on the ChexSystems black list. Unpaid bank fees and bounced checks can result in a negative file on ChexSystems, a consumer reporting agency that financial institutions use to evaluate a prospective customer’s banking history. The more blemishes on your report, the less likely that a bank will approve you for a new account.
Here are some steps to take if you need to clear up your ChexSystems record.