The top checking accounts we've reviewed offer low fees and minimums, perks like competitive interest or early direct deposit, and easy-to-use online tools.
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Our partners do not influence our ratings.
2025 award winnerBest Checking and Savings Combo
Earn up to a $300 bonus and up to 3.80% APY1 <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> on your money
No account, overdraft, or monthly fees2 <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
Get your paycheck up to two days early3 <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>
Access additional FDIC insurance up to $3 million4 <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>
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Our partners do not influence our ratings.
2025 award winnerBest Online Checking Account
Earn 1% cash back on up to $3,000 in debit card purchases each month5 <p>See website for details.</p>
No minimum deposit, no minimum balance, and no account fees
Easily switch direct deposit via the Discover mobile app or online for Early Pay (get your paycheck up to 2 days early!)
60K+ fee-free ATMs and make cash deposits at Walmart stores nationwide
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2025 award winnerBest for Bad or No Credit
No minimum balance, no monthly service fees6 <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p>
Get your paycheck up to 2 days earlier with direct deposit7 <p> Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.</p>
Eligible Members can access fee-free overdraft up to $2008 <p>SpotMe® for Credit Builder is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account; SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month. Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member’s Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won't cover non card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. <a href="https://www.chime.com/policies/">SpotMe on Credit Builder Terms and Conditions</a>.</p>
50K+ fee-free ATMs nationwide9 <p>Out-of-network ATM withdrawal and over the counter advance fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.</p>
Automatic savings helps you grow your money faster10 <p>Save When I Get Paid automatically transfers 10% of your direct deposits of $1 or more from your Checking Account into your savings account.</p>
A good checking account should do more than just keep your money safe. It should also make your life easier, with features like ATM access and early direct deposit, and sometimes even help you grow your money by earning interest or rewards. Checking accounts with all of these perks are hard to come by, but we've reviewed options with popular banks and banking platforms to find the accounts that offer the most everyday value and benefits.
SoFi®, Discover, Chime®11 <p>Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A. The secured Chime Credit Builder Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A.</p> , and Chase are just a few of our picks for the best checking accounts. Learn more about each of these, plus a handful of other great options.
How we evaluate products
Companies on this list were evaluated according to a set of criteria.
We looked at the following:
FDIC insurance or NCUA insurance: To make our list, a checking account must be FDIC insured or National Credit Union Administration (NCUA) insured in the case of credit unions.
Account minimums: All listed accounts have no minimum balance requirement or average daily balance requirement to remain open without incurring fees (though some do have minimum balances in order to earn APY). Some also have no minimum deposit required to open.
Fees: A variety of bank account fees were considered in our assessment. Fees evaluated include monthly maintenance, ATM, minimum balance, foreign transaction, and overdraft fees.
Account features: Checking accounts were evaluated on the availability of certain features such as paper checks, online bill pay, mobile deposits, rewards on spending, and whether the account is interest bearing.
$0 minimum balance2 <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
No monthly maintenance fee12 <p>See <a href="https://www.discover.com/content/dam/dfs/online-banking/documents/NationalDepositAccountAgreement.pdf">Deposit Account Agreement</a> for details on transaction eligibility, limitations, and terms.</p>
No monthly maintenance fee6 <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p>
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Our partners do not influence our ratings.
SoFi Checking and Savings
SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit
Earn up to 3.80% APY13 <p>SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits.1 <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> FDIC Insured.4 <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>
Best for keeping your spending and saving in one place
Pros
No monthly service or overdraft fees2 <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
Up to 3.80% APY on savings with direct deposit13 <p>SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p>
Cons
Must have direct deposit to earn highest APY
No standalone checking or savings account
We'll always go to bat for this account from
SoFi® as one of the best checking options, even if it isn't strictly a checking account. In fact, this is why we prefer it over other choices — it's a combined checking and savings account that rewards you for everything from your everyday earnings or rainy day fund. The account earns up to 3.80% on your savings balance with direct deposit and up to 0.50% (as of 01/24/25) on checking with direct deposit. You'll earn 1.00% (as of 01/24/25) on your savings balance if you don't have direct deposit set up.13 <p>SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> .
You don't have to stress about overdraft or monthly maintenance fees with SoFi Checking and Savings.2 <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p> If you open this account, I recommend taking advantage of its overdraft coverage. If your account becomes overdrawn, SoFi will automatically pull from your savings to cover the charge.14 <p>Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the "30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.</p> This joint account is also great for quickly transferring funds when you want to save more or need to tap into your savings.
Member FDIC 4 <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
Discover® Cashback Debit
Discover® Cashback Checking
Earn 1% cash back on up to $3,000 in debit card purchases each month.5 <p>See website for details.</p> No minimum deposit or balance. FDIC Insured.
1.00% cash back on up to $3,000 in qualifying debit card purchases each month
Early access to paychecks
No NSF fee or minimum balance requirement
Cons
Can only deposit cash at Walmart
I have to say, there aren't many checking accounts that offer cash back on your spending. If you like the idea of earning money back on your debit transactions, you may want the Discover® Cashback Checking account.
It offers an impressive 1% cash back on up to $3,000 in qualifying debit card transactions each month. This is in addition to standard checking features such as no minimum balance requirements and early access to paychecks. It also has an extensive ATM network and a fee-free overdraft protection service.
One drawback to Discover Bank's checking account is that you can only make cash deposits at Walmart. You can make electronic deposits by transferring money from another institution, however. Member FDIC.
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
Chime®
Chime® Checking18 <p class="">Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC. <br></p> - No Monthly Fees6 <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p> + Get paid up to 2 days early with direct deposit7 <p> Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.</p>
Checking Account. No minimum balance. FDIC Insured through The Bank Corp Bank, N.A. or Stride Bank, N.A.
No monthly service fees6 <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p>
Offers fee-free overdraft protection of up to $200 to qualifying members8 <p>SpotMe® for Credit Builder is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account; SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month. Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member’s Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won't cover non card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. <a href="https://www.chime.com/policies/">SpotMe on Credit Builder Terms and Conditions</a>.</p>
Potential early access to paychecks7 <p> Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.</p>
Cons
Out-of-network ATM withdrawal fees
Not all members are eligible for mobile check deposit
One of only a few online checking accounts we've found that permits cash deposits, the Chime checking account is one of our favorites for this. The fintech's checking account lets you make cash deposits at a long list of retailers, including Walgreens, Walmart, 7-Eleven, Dollar General, and more, although only Walgreens transactions are fee-free.19 <p>Once the retailer accepts your cash, the funds will be transferred to your selected Chime Account. Barcode and debit card cash deposits land in the Checking Account. Credit Builder card cash deposits first go through your Card Account and then land in your Secured Account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade.</p> This is more choices than you'd get with another platform that lets you deposit cash, like Varo.
There's plenty to like about this account, including a large fee-free ATM network9 <p>Out-of-network ATM withdrawal and over the counter advance fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.</p> , a debit card, and no minimum balance requirements. I also like this account if your income and expenses might be a little erratic and occasionally lead to a lower balance.
You also might find some of Chime's other accounts useful, like The secured Chime Credit Builder Visa® Credit Card20 <p>The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank. To apply for Credit Builder, you must have an active Chime® Checking Account.</p> or high-yield savings account21 <p class="">Chime Checking Account is required to be eligible for a Savings Account.<br></p> , and it's nice to have more than one account at the same institution for ease of managing those accounts.
Like some of the other accounts on this list, Chime offers the ability for you to get your paycheck up to two days early with direct deposit. But on top of that, Chime SpotMe® overdraft protection covers any accidental overdrafts up to $200 so your purchases aren't declined, and it won't charge you an overdraft fee either.8 <p>SpotMe® for Credit Builder is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account; SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month. Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member’s Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won't cover non card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. <a href="https://www.chime.com/policies/">SpotMe on Credit Builder Terms and Conditions</a>.</p>
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
Chase Total Checking®
Enjoy $300 as a new Chase checking customer
When you open a new Chase Total Checking® account with qualifying activities.22 <p>Offer not available to existing Chase checking customers, or those whose accounts have been closed within 90 days or closed with a negative balance within the last 3 years. You can receive only one new checking account opening related bonus every two years from the last coupon enrollment date and only one bonus per account. Coupon is good for one-time use. To receive the bonus: 1) Open a new Chase Total Checking account, which is subject to approval; AND 2) Have your direct deposits totaling $500 or more made to this account within 90 days of coupon enrollment. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Person to Person payments (such as Zelle®) are not considered a direct deposit. Micro-deposits do not qualify as a direct deposit for the bonus. Micro-deposits are small deposits, typically less than $1, that are sent to your account to verify it is the correct account. After you have completed all the above requirements, we'll deposit the bonus in your new account within 15 days. To receive this bonus, the enrolled account must not be closed or restricted at the time of payout. Eligibility may be limited based on account ownership. Bonus is considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable). Offer availability subject to change. Other Chase checking bonus offers may exist concurrently.</p> FDIC Insured. Offer valid through 7/16/2025.
Chase offers a variety of checking account options, including Chase First Banking for kids as young as six years old and Chase College Checking for students. But one of its most popular accounts is Chase Total Checking®, the option we recommend for the majority of people.
It's a basic account that's compatible with Zelle and offers excellent in-person access through a network of more than 4,700 branches. It makes for a great joint checking account, and the monthly service fee of $12, while not ideal, is relatively easy to waive. To avoid it, you can:
Make qualifying electronic deposits totaling $500 or more to the account each statement period.
Have a minimum daily balance of at least $1,500.
Have a minimum combined balance of at least $5,000 across eligible Chase checking and savings accounts.
The account also includes Chase Overdraft Assist, which offers no overdraft fee if you're overdrawn by $50 or less at the end of a business day.
Chase has a relatively limited ATM network of around 15,000. Member FDIC.
To earn the maximum amount of interest, you must have investment accounts and a loan with Axos Bank
High minimum direct deposit to unlock interest-earning options
Axos Rewards Checking offers you the opportunity to earn rewards for using your account in a variety of ways. If I were able to meet the requirements, I'd take advantage of the opportunity for a significant APY on checking balances with Axos. (The maximum APY is almost comparable with that of high-yield savings accounts.)
You must receive at least $1,500 in monthly direct deposits to qualify for an APY and any other additions to your APY, so if your income and employer fit that model, it's a great option.
Other activities that make you eligible for further rate increases include:
Minimum of 10 debit card transactions per month or link an account to Personal Finance Manage
Average daily balance of $2,500 in an Axos Invest Managed Portfolios Account
Average daily balance of $2,500 in an Axos Invest Self Directed Trading Account
Make full monthly loan payments (mortgage, personal, or auto loan) with your Axos Rewards Checking
Altogether you have the opportunity to earn up to 3.30% APY on your account balance.23 <p>APY means Annual Percentage Yield. APY is accurate as of June 7, 2024. Interest rate and APY may change after initial deposit depending on the terms of the specific product selected. Minimum opening deposit is $0.</p> Given that checking accounts rarely pay interest at all, this is a pretty high interest rate.
In addition, this rewards checking account does not charge overdraft or insufficient fund fees. There are also no maintenance fees or minimum balance requirements. Plus, there is no initial deposit requirement to open the account and Axos will reimburse all domestic ATM fees, making it a really simple bank, even if you don't meet the requirements for the higher APY.
As you compare the best checking accounts available, you'll need to consider your goals and lifestyle. Here's what to look at as you research account options:
Navigating fees
These days, there's almost no reason to pay a banking institution for your checking account. While some of the banks included here charge monthly account fees, you can typically get those fees waived. Plus, a lot of banks don't charge account maintenance fees anymore, so you should be able to access the checking features you need without losing money.
If you plan on keeping a decent-sized balance in your checking account, then an account that waives monthly fees when you meet a minimum balance might be a good fit for you.
Take into account any fees you might encounter before signing up for a new checking account. You can search online for the bank's name or checking account + "fees" and typically find this information.
Look for the following:
Monthly account maintenance fees
Overdraft fees
ATM fees
Non-sufficient fund (NSF) fees
Debit card fees
Of course, no one wants to pay any fees, but be sure you understand fee structures of your new account. If you rarely let your balance dip below $500 and that's the minimum amount to avoid a monthly fee, you're probably safe. Or if ATMs are important to you, check the bank's ATM locator to ensure that there are plenty of fee-free machines in your area.
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Max-Rate Checking - 3.00% Annual Percentage Yield24 <p>As of 04/30/2025, the Annual Percentage Yield (APY) of the Max-Rate Checking Account is 3.00%. Your interest rate and APY may change at any time and fees may reduce earnings. Please visit <a href="http://etrade.com/ratesheet">etrade.com/ratesheet</a> for information regarding this account's current interest rate and corresponding APY.</p><br>
<p class="">The $15 monthly account fee can be waived when you maintain an average monthly balance of at least $5,000 in the account on or after the end of the second calendar month from opening the account.</p>
No transaction fees and ATM fee refunds worldwide.25 <p>With Max-Rate Checking, Morgan Stanley Private Bank, National Association (“Morgan Stanley Private Bank”) will not charge you a fee for withdrawing funds from any institution’s ATM but the owner/operator of the ATM may charge a fee. In those cases, we will refund ATM fees charged worldwide. For additional information and important details about how the ATM fee refund will be applied, please visit the <a href="https://us.etrade.com/bank/bank-rates">etrade.com/ratesheet</a> for more details.</p> 26 <p class="">Morgan Stanley Private Bank may impose a charge equal to 1% of the transaction amount (including credits and reversals) for non-U.S. currency transactions charged depending on your account type. Refer to the <a href="https://us.etrade.com/l/f/agreement-library/bank-rate-fee-schedule?vanity=rateandfee">etrade.com/rateandfee</a> for more details.</p> FDIC insured up to the applicable limits.27 <p>Deposits held in checking accounts are FDIC insured up to $250,000. <a href="https://www.fdic.gov/resources/deposit-insurance/financial-products-insured">Learn more</a>.</p> Waive the $15 monthly account fee when you maintain an average account balance of $5,000.
Does the bank offer the features and benefits you need?
Next is a fairly obvious question as well. What do you want from your checking account? Think about fees, how you'll deposit money and withdraw money, and whether you expect your account to earn interest, for example.
Consider these benefits that many checking accounts offer:
Fee-free ATM access: How many ATMs are available? Does the bank reimburse out-of-network ATM transactions?
Annual percentage yield (APY): Does the checking account pay more than a pittance in interest on your balance? How do you earn it?
No overdraft fees: Does the bank offer overdraft protection if you make a payment and your balance dips temporarily?
Early paycheck access: Does the bank provide optional access to funds up to two days before the direct deposit date?
Joint accounts: If this applies to you, you might want a joint checking account with a partner or relative.
Mobile banking: Can you access your bank account via mobile app? How user-friendly is it?
In-person branches: If you prefer in-person banking, choose a bank that has physical branches near you.
Cashback rewards: A few checking accounts offer a rewards program on your spending, which can be nice.
Figure out what matters most to you. You probably won't get all of these features, so prioritize the benefits you need and want.
For me, for example, I prefer mobile banking to in-person, but I don't really care about ATM access or cash rewards. I tend to keep a relatively high balance in my checking account, too, so I don't need to worry about a minimum balance or overdraft fees. But your priorities in a checking account may be different, so choose what works best for you.
Tip
Some banks offer account bonuses to new customers opening a checking account. You typically need to meet certain requirements like having a certain amount of qualifying direct deposits.
FAQs
What is required to open a new checking account?
Requirements vary by bank for opening an account, but you'll typically need to be at least 18 years old and have a valid Social Security number or Individual Taxpayer Identification Number. You'll also need to submit photo identification and provide proof of your current address.
How many checking accounts should I have?
There's no magic number; it's totally okay to have one or multiple checking accounts in your name. Sometimes, having more than one checking account can make money management and budgeting easier. For example, you might want a separate checking account for spending on your kids, or a business checking account for your business expenses.
How much should I keep in checking?
You should keep at least the minimum balance in your checking account and ensure you have enough to cover all your monthly bills. It's a good idea to have a cushion to protect yourself from accidental overdrafts. I tend to keep more than necessary because that's what's comfortable for me, but it's better to move excess funds into a high-yield savings account where it can earn you more.
Bottom line
Choosing the right checking account is crucial for healthy money management. Some checking accounts offer high interest rates, while others have low or no fees. Some have convenient mobile banking features, while others provide more flexibility and perks.
Among our top recommendations are Chime, Axos, and Sofi. However, there are plenty of options available, so make sure to research and compare your options before making your choice.
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
2025 award winnerBest Checking and Savings Combo
SoFi Checking and Savings Benefits
Earn up to 3.80% APY13 <p>SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits1 <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p>
No account, overdraft, or monthly fees2 <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
Get your paycheck up to two days early3 <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>
Access additional FDIC insurance up to $3 million4 <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>
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