There are a lot of checking accounts out there. So many, in fact, it can be overwhelming to weed through all the options — good and bad — and then confidently choose one. Social scientists call this “information overload”. We call it inconvenient.
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. Below we’ve rounded up some standout checking accounts.
|Monthly fee||Out-of-Network ATM Fee||Details|
Why we like it
Chime is a mobile bank account that has no monthly fees, minimum balance requirements or overdraft fees, and you have access to more than 38,000 fee-free MoneyPass and Visa Plus Alliance ATMs. Through Chime’s early direct deposit service, customers can get their paychecks up to two days earlier than if they cashed their checks at a bank.
This account works best for people who don’t write many checks or make cash deposits. If you need to write a check, Chime has an online feature that creates and mails one on your behalf. For cash deposits, you’ll need to use a third-party service.
For more details on Chime, read our full review.
Why we like it
Like most checking accounts, Simple’s online checking account lets you sign up for direct deposit. But this online-only account’s handy budgeting tool, called Safe-to-Spend, really makes it stand out. It uses your monthly bills and savings goals to calculate how much you can afford to spend on nonessential expenses. Simple also lets you automatically save toward planned, recurring expenses, or planned splurges, and gives you access to more than 40,000 fee-free ATMs.
The account doesn’t charge monthly service, overdraft or nonsufficient-funds fees, and it’s easy to use, as its name suggests. Simple also offers a bonus: Earn up to $500 on top of 2.02% annual percentage yield when you open a new Individual and Shared Protected Goals Account with qualifying activities.
at Axos Bank™,
Why we like it
Rewards Checking has no minimum balance and no monthly maintenance, overdraft or nonsufficient-funds fees. The account also has an annual percentage yield as high as 1.25%, depending on your account activity. To earn maximum interest, you’d need to have monthly direct deposits of $1,000 or more and use your debit card at least 15 times a month, with a minimum $3 purchase.
In addition, Axos Bank (formerly Bank of Internet) offers unlimited domestic ATM reimbursements on several of its checking accounts, including this one.
For more details on Axos, read our full review.
A checking account is a bank account that is typically used for everyday expenses. It tends to have a lower interest rate than a savings or money market account, but unlike those accounts, there's no limit to how often you can access your money.
Some important factors for virtually every bank-shopper are monthly fees, ATM access and interest rates (since they have the biggest impact on your bottom line). And, as it happens, online banks typically offer higher interest rates.