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Best Banks for Checking and Savings Accounts 2018

July 19, 2018
Banking, Checking Accounts, Savings Accounts
best-banks-checking-savings-accounts-2017
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We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

We researched dozens of banks and credit unions to find those with the best checking and savings accounts. Four of those financial institutions earned spots in both NerdWallet’s best checking and best savings roundups.

These banks’ savings options have high annual percentage yields and low fees, while their checking accounts keep fees to a minimum and offer stellar customer service and extensive ATM networks.

The following banks are good options for people who want to keep their checking and savings accounts under the same roof without sacrificing quality.

ALLY BANK
Overall bank rating:

 

DISCOVER BANK
Discover

at Discover,

Member, FDIC

Overall bank rating:

 

CHASE BANK
Chase

at Chase,

Member, FDIC

Overall bank rating:

 

Alliant Credit Union
Overall bank rating:

 

Ally Bank

Interest Checking and Online savings

NerdWallet has rated this bank:

Ally, an online bank, doesn’t have branches, but that doesn’t mean it’s hard to reach. Customers can get help over the phone 24 hours a day, seven days a week, and can also use a live chat service on Ally’s website. The bank makes good use of Facebook and Twitter to offer additional support.

Ally’s Interest Checking Account offers free access to around 43,000 ATMs and doesn’t charge monthly fees. As its name suggests, the account pays interest, although gains for balances below $15,000 will be modest. For better rates, you’ll want to turn to Ally’s Online Savings Account, which has an APY of 1.75% and doesn’t charge a monthly fee. (Read our Ally review for further insights.)

Discover Bank

CASHBACK CHECKING AND ONLINE SAVINGS

NerdWallet has rated this bank:

Discover

at Discover,

Member, FDIC

Discover’s Cashback Checking1 account gives customers access to over 60,000 free ATMs. Plus you’ll get 1% cash back on qualifying debit card purchases of up to $3,000 a month.

Depositing cash will be a challenge, as you can only do it only at Discover’s lone branch in Delaware. The bank’s savings account has an APY of 1.75%, and it doesn’t charge monthly fees. The account also has a solid bonus of $150 or $200. Note that you need a fairly hefty deposit of $15,000 or $25,000, respectively, to qualify for the bonus.


(See how Discover rates for CDs, customer service and more.)

Chase Bank

chase total Checking® and Chase Savings℠

NerdWallet has rated this bank:

Chase

at Chase,

Member, FDIC

New Chase Total Checking® customers who use direct deposit qualify for a sign-up bonus of $200 (expires 10/15/18). Receiving at least $500 in monthly direct deposits in your account also can help you avoid the $12 monthly maintenance fee. Other ways to bypass the fee include either keeping a minimum daily balance of $1,500 in your checking account or maintaining an average daily balance of at least $5,000 across eligible Chase accounts and investments.

New Chase Savings℠ customers who maintain a balance of at least $10,000 for 90 days can secure a welcome bonus of $150. The offer expires 10/15/18. Chase’s 0.01% APY isn’t quite as impressive (effective 6/15/18; interest rates are variable and subject to change).

The national bank has about 5,100 branches and more than 16,000 ATMs, making it a good option for customers looking to visit a teller every so often. (Read our Chase review.)

Alliant Credit Union

High-Rate Checking and High-Rate Savings

NerdWallet has rated this bank:

Many credit unions restrict membership to people who live in certain communities or work for particular companies. That’s not so at Alliant, where you can become a member by making a one-time donation of $10 to an affiliated nonprofit if you don’t meet its other requirements.

You can qualify for High-Rate Checking, and by extension an APY of 0.65%, if you enroll in electronic statements and have at least one electronic deposit made to your account each month, including a direct, ATM or mobile deposit or a transfer from another bank or credit union. Alliant offers 80,000 free ATMs and reimburses up to $20 per month for out-of-network ATM surcharges. Its savings account earns 1.70% APY on balances of at least $100.

The credit union has only about 10 branches spread across the country and doesn’t participate in shared branching, so you’ll have to do the majority of your banking online, which includes Alliant’s mobile app. (For more details, here’s our Alliant review.)


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