BEST OF - Virginia

8 Best Rewards Checking Accounts of 2022

Dec 23, 2021

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Rewards usually are associated with credit cards, but some checking accounts have them, too. Perks include high interest rates and cash back.

» Want to explore one-time bonuses? Browse our monthly roundup of best bank account bonuses

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.

Here’s a list of our favorite rewards checking accounts.

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Best Rewards Checking Accounts

Our pick for

Cash back and ATM network

Discover Bank Cashback Debit
Learn more

at Discover Bank, Member FDIC

Discover Bank Cashback Debit

5.0

NerdWallet rating 
Discover Bank Cashback Debit

Monthly fee

$0

APY

N/A

Bonus

N/A
Learn more

at Discover Bank, Member FDIC


Bonus

N/A

Why we like it

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

Read Full Review

Our pick for

Best interest rate for up to $10,000

Consumers Credit Union Free Rewards Checking
Learn more

at Consumers Credit Union, Federally insured by the NCUA

Consumers Credit Union Free Rewards Checking

5.0

NerdWallet rating 
Consumers Credit Union Free Rewards Checking

Monthly fee

$0

APY

2.09%

With $0 min. balance for APY

Bonus

N/A
Learn more

at Consumers Credit Union, Federally insured by the NCUA


Bonus

N/A

Why we like it

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 4.09%.

The rate breaks down into three separate tiers — 2.09%, 3.09% and 4.09% — 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, have online transactions (direct deposits, ACH transfers or mobile check deposits) to the account worth at least $500 each month, and enroll in electronic documents. For the month of May 2020, the minimum number of debit card purchases required has dropped from 12 to 6.

The second tier, 3.09%, 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, 4.09%, 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 to a much lower APY.

Read Full Review

Our pick for

Unlimited cash back and ATM network

Quontic Cash Rewards Checking

5.0

NerdWallet rating 
Quontic Cash Rewards Checking

Monthly fee

$0

APY

N/A

Bonus

N/A

Bonus

N/A

Why we like it

Quontic’s free Cash Rewards Checking account gives customers a high 1.50% cash back on all eligible debit card purchases, and customers also have access to more than 90,000 free ATMs. There is, however, a $100 minimum deposit to open the account.

Read Full Review

Our pick for

Best interest rate for up to $15,000

Lake Michigan Credit Union Max Checking

5.0

NerdWallet rating 
Lake Michigan Credit Union Max Checking

Monthly fee

$0

APY

3.00%

With $0 min. balance for APY

Bonus

N/A

Bonus

N/A

Why we like it

Lake Michigan Credit Union offers a highly competitive 3.00% APY interest rate on its Max Checking account for balances up to $15,000. The account requires no minimum balance and has no monthly maintenance fees. The account also offers the perk of up to $10 per month in out-of-network ATM fee reimbursement for non-LMCU and non-Allpoint ATMs. There are more than 55,000 in-network ATMs worldwide as well.

Read Full Review

Our pick for

Best cash back rate

Upgrade Rewards Checking

4.5

NerdWallet rating 
Upgrade Rewards Checking

Monthly fee

$0

APY

N/A

Bonus

N/A

Bonus

N/A

Why we like it

Upgrade offers its Rewards Checking customers 2% cash back on everyday debit purchases — such as those made at restaurants, bars, convenience stores, drugstores, gas stations, utility companies and streaming services — up to $500 in rewards per year. For other debit card purchases, and for everyday purchases made after the $500 reward limit, customers can earn 1% cash back.

Upgrade charges no monthly fees or overdraft fees, and if a customer maintains a balance of at least $2,500 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.

Read Full Review

Our pick for

Best interest rate for up to $25,000

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

Connexus’ Xtraordinary Checking customers can earn 1.75% APY on balances of up to $25,000 as well as up to $25 per month in out-of-network ATM fees. To qualify for these benefits, customers have to opt into e-statements and make either $400 in debit card purchases or make 15 debit card transactions per month. If they don’t meet these requirements, then customers won’t earn interest or receive ATM fee reimbursement. For customers who keep more than $25,000 in their Xtraordinary Checking account, they’ll earn 0.25% APY for any amount that goes over the threshold.

Read Full Review

Our pick for

ATM refunds and unlimited cash back

TAB Bank Kasasa Cash Back® Checking

4.5

NerdWallet rating 
TAB Bank Kasasa Cash Back® Checking

Monthly fee

$0

APY

N/A

Bonus

N/A

Bonus

N/A

Why we like it

With the Kasasa Cash Back Checking account, TAB Bank gives customers an unlimited 1.50% cash back on purchases and refunds domestic ATM withdrawal fees, up to $5 per fee with up to $15 per month total. The account has no monthly fees or minimum balances. In order to qualify for cash back rewards, customers must be enrolled in e-statements, make at least 15 debit card purchases per month that are at least $5 each and have at least one direct deposit, electronic payment or bill pay transaction.

Read Full Review

Our pick for

Cash back and interest

LendingClub Rewards Checking

5.0

NerdWallet rating 
LendingClub Rewards Checking

Monthly fee

$0

APY

0.10%

With $2,500 min. balance for APY

Bonus

N/A

Bonus

N/A

Why we like it

LendingClub Rewards Checking has a cash back feature that allows customers to earn unlimited 1% cash back on signature-based debit card transactions in stores and online. In stores, a customer must select “credit” instead of “debit” for the purchase to qualify.

To get the cash back, customers must receive at least $2,500 in direct deposit from their employer or keep an average of $2,500 or more in their Rewards Checking account monthly.

LendingClub Rewards Checking also offers interest. Balances from $2,500 to $99,999.99 earn 0.10%, and balances of $100,000 or more earn 0.15%. The account has no monthly maintenance fee or minimum balance requirement after the $100 deposit required to open the account.

Customers get unlimited automatic ATM fee reimbursements worldwide (though an international exchange fee may still apply), and they can also get free ATM access at MoneyPass and SUM-branded ATMs.

Read Full Review

Chasing the best rewards can’t make up for having a checking account that lacks features you need or that charges you high fees to access your money. But it’s worth looking for a financial institution that offers you a little extra incentive to bank with it.

Last updated on December 23, 2021

You may also like these

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

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

0.60%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

at Discover Bank, Member FDIC

Marcus by Goldman Sachs Online Savings Account

5.0

NerdWallet rating 
Marcus by Goldman Sachs Online Savings Account

APY

0.70%

With $0 min. balance for APY

at Marcus by Goldman Sachs, Member FDIC

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

0.60%

With $0 min. balance for APY

at Discover Bank, Member FDIC

Methodology

We took a close look at over 80 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.

To recap our selections...

NerdWallet's Best Rewards Checking Accounts of 2022