Best Rewards Checking Accounts of 2019

Axos Bank’s Rewards Checking account has no monthly fee or minimum balance requirements. It reimburses an unlimited number of domestic ATM fees.

But the account’s biggest perk is its annual percentage yield, or APY, of up to 1.25%. To get the full rate, you need to have monthly direct deposits of $1,000 or more and make at least 15 debit card purchases monthly. Falling short of those requirements can reduce the APY. You can earn interest on balances of up to $150,000, which is an unusually high limit for a rewards checking rate.

You can get 1% cash back on up to $3,000 in qualifying debit card purchases each month on Discover’s one and only checking account.

Discover gives access to over 60,000 free ATMs and doesn’t charge a monthly fee or have balance requirements.

Cashback Debit details from Discover:

“ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, peer-to-peer (P2P) payments (such as Apple Pay Cash), and loan payments or account funding made with your debit card are not eligible for cash back rewards. In addition, purchases made using third-party payment accounts (services such as Venmo® and PayPal™, which also provide P2P payments) may not be eligible for cash back rewards. Apple, the Apple logo and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries."

See Discover's website for more details.

New Chase checking customers who open a Chase Total Checking® account and set up direct deposit can earn a sign-up bonus of $200 (expires 10/14/2019). The $12 monthly maintenance fee can be avoided by keeping a minimum balance of $1,500, signing up for monthly direct deposits of at least $500, or having an average beginning day balance of at least $5,000 across linked qualifying accounts and investments.

Chase has nearly 5,000 branches and more than 16,000 ATMs, as well as a range of checking and savings accounts. That makes it ideal for people looking to join a national bank.

Consumers Credit Union’s Free Rewards Checking offers easy-to-join nationwide membership, a big ATM network and no monthly fees or minimum balances, but the most impressive feature is the APY: up to 5.09%.

The rate breaks down into three separate tiers — 3.09%, 4.09% and 5.09% — with more monthly requirements for the higher two. To achieve the first tier on balances of up to $10,000, you need to do three things: Complete at least 12 monthly debit card purchases totaling at least $100, have direct deposits or ACH transfers to the account worth at least $500 each month, and enroll in electronic documents.

The second tier, 4.09%, applies to balances of up to $10,000 and requires the activities above as well as making at least $500 in purchases with a Consumers Credit Union credit card. The highest tier, 5.09%, is for balances of up to $10,000 and requires the activities from the first tier along with $1,000 in credit card purchases. Not meeting the requirements drops your rate down to a much lower APY.

Axos Bank's CashBack Checking offers up to 1% cash back to earn a possible $2,000 monthly. To get the full 1%, you must maintain a daily balance of at least $1,500, or the rate drops to 0.50%. The checking account also has unlimited domestic ATM reimbursements and no monthly fees.

This account restricts eligible debit transactions to purchases that require a signature. Transactions also can’t be purchases at supermarkets, wholesale stores, discount stores or money transfer or financial institutions, plus a couple of others.

Despite its offbeat marketing, Redneck Bank’s high rates are legit. The online division of Oklahoma-based All America Bank offers a 3.00% APY on up to $10,000, which means you could rake in $275 in interest in one year. Amounts above $10,000 earn 0.50% APY. You must make 10 debit card purchases per month to earn the rates. Otherwise, the APY drops to 0.50%. The account has a minimum opening deposit requirement of $500, and no monthly fees or minimum balance requirements.