10 Best Rewards Checking Accounts of 2023

SoFi Checking and Savings gives customers with direct deposit a 2.50% APY (variable and subject to change) on balances in the checking portion of their account. In addition, the savings portion earns 3.75% APY (variable and subject to change). The account doesn't have monthly or overdraft fees. Customers can also receive their paychecks up to two days early and earn up to 15% cash back on purchases made with their SoFi debit card. New customers can earn a bonus of up to $250 depending on how much they direct deposit within 25 days of their first qualifying direct deposit. Without direct deposit, SoFi Checking and Savings earns 1.20% APY (variable and subject to change) on all account balances.

Axos Bank customers can earn up to 1.25% APY on their balance as long as they meet some requirements. To earn the full interest, customers must have monthly direct deposits totaling $1,500 or more, use their debit card at least 10 times per month (with a minimum of $3 per transaction), maintain an average daily balance of $2,500 per month in an Axos Invest Managed Portfolios Account, maintain an average daily balance of $2,500 per month in an Axos Invest Self Directed Trading Account and use their account to make a full monthly Axos Bank consumer loan payment. Other benefits include no overdraft fees and unlimited ATM fee reimbursements.

NBKC’s Everything Account gives its customers 1.26% APY on all balances with no requirements. There’s no monthly fee or minimum balance requirement, and customers have access to more than 37,000 fee-free ATMs. NBKC also offers up to $12 in monthly fee reimbursements for out-of-network ATMs.

To join Hope Credit Union, new members need to pay a one-time $10 membership fee. Hope Credit Union is primarily located in the South, but it’s also part of the Co-op branch and ATM network, which gives customers access to more than 5,600 shared branches and more than 30,000 fee-free ATMs.

Upgrade charges no monthly fees or overdraft fees, and if a customer maintains a balance of at least $2,500, has made at least eight qualifying Rewards Checking debit card purchases or has had at least $1,000 directly deposited into their account in the previous month, then Upgrade will rebate up to five ATM withdrawal fees per month.

The second tier, 4.00%, 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, 5.00%, 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 to a much lower APY.