The 11 Best Checking Accounts: Fees, APYs, etc Compared

There are a lot of factors to keep in mind when comparing checking accounts. To determine the best available bank accounts, we researched a variety of accounts from online banks, brick-and-mortar banks, and large credit unions. We list the best checking accounts below, using the following criteria:

• Is the account fee-free? The best accounts come with no or few fees, so you can instead use that money toward your monthly budget or savings goals. We evaluate each account’s monthly fees, overdraft fees, and other related costs.
• Does the account require an opening deposit? Banks or credit unions that do not require a deposit allow you to open an account at any time and fund it after it’s open. Accounts with no or low deposits are generally preferable due to the flexibility they allow the account holder; however, you may want to consider an account that requires a deposit if it has great rewards or low fees. If avoiding a deposit is most important to you, see our list of accounts that do not require opening deposits.
• What are the account management options? The best accounts allow you to manage your finances entirely online for convenient, 24/7 access. They also provide reliable customer support.
• Does the account earn interest or offer rewards? Savings accounts are not the only accounts that can earn interest; rewards checking accounts often come with an annual percentage yield (APY). Our list details whether each account earns interest, and if so, at what APY. Those accounts in our list that do not accrue interest allow you to earn other rewards, like cash back.

Before applying for a bank account, see our related research for more about what you need to open an account and how to open a bank account.

What We Recommend

We place the Axos Bank Free High APY Rewards Checking account at the top of our list. We recommend it because of its high APY (up to 1.25%), small opening deposit ($50), fully online account management, and the fact that it charges no fees.

Consumers Credit Union Rewards Checking offers the highest APY on our list (up to 4.09%) if that is your top priority; however, it does charge fees for things like overdrafts and stop payments. It also requires that you receive at least $500 in deposits and make at least $100 in debit card purchases each month to earn interest. The Varo Bank Account is another option with a higher APY than Axos Bank (up to 2.80%), but you must pair your checking account with a high-yield Varo Savings Account.

Comparison Table

Below, we have compiled a table comparing the best checking accounts. Click the account name or scroll to the list below, which features more detailed information about each account’s terms, fees, and features.

Note: “Fee-free” here means that there are no fees for regular account functions like monthly maintenance, lost or stolen debit card replacement, overdrafts, or non-sufficient funds. The bank or credit union may offer additional services for a fee, such as expedited check delivery.

The List

The list below is ordered “best first” based on a combination of high APY/rewards, low fees, and low deposit. Note that all of these accounts Federal Deposit Insurance Corporation (FDIC) or National Credit Union Administration (NCUA) insurance.

1. Axos Bank Free High APY Rewards Checking

• Fee-free? Yes
• Deposit required? Yes; $50
  
• Can be managed entirely online? Yes
• APY: 0.42% to 1.25%
• Open an account

2. Consumers Credit Union Rewards Checking

• Fee-free? No; Consumers Credit Union does not charge maintenance fees but does charge other fees, including stop payments, overdrafts/non-sufficient funds, expedited bill payments, and lost debit card replacement.
• Deposit required? No
  
• Can be managed entirely online? Yes
• APY: 2.09% to 4.09% depending on how much you spend each month; must receive direct deposits of at least $500 monthly and make at least 12 debit card purchases totaling $100+ monthly
• Open an account

3. Varo Bank Account

• Fee-free? Yes
• Deposit required? No
  
• Can be managed entirely online? Yes
• APY: Up to 2.80% when paired with a high-yield Varo Savings Account
• Open an account

4. Simple High-Yield Account

• Fee-free? Yes
• Deposit required? No
  
• Can be managed entirely online? Yes
• APY: Up to 1.00% when paired with a Protected Goals savings account
• Open an account

5. Capital One 360 Checking

• Fee-free? Yes
• Deposit required? No
  
• Can be managed entirely online? Yes
• APY: 0.10%
• Open an account

6. Ally Interest Checking Account

• Fee-free? No; there are no monthly fees, but Ally charges fees for returned deposits, overdrafts, excessive transactions, outgoing wires, and account research.
• Deposit required? No
  
• Can be managed entirely online? Yes
• APY: 0.10% with a minimum daily balance less than $15,000; 0.50% with a minimum daily balance of $15,000 or higher
• Open an account

7. Alliant Credit Union High-Interest Checking

• Fee-free? No; there are no monthly fees, but Alliant Credit Union charges for things like paper account statements, non-sufficient funds, inactivity/dormant accounts, and international wire transfers.
• Deposit required? No
• Can be managed entirely online? Yes
• APY: 0.25%; you must opt-in for eStatements and make at least one deposit per month to earn interest
• Open an account

8. CIT Bank eChecking

• Fee-free? No; there is no monthly service charge, but CIT Bank does charge fees for other things, including overdrafts, insufficient funds, excessive transactions.
• Deposit required? Yes; $100
  
• Can be managed entirely online? Yes
• APY: 0.10% with a minimum daily balance less than $25,000; 0.25% with a minimum daily balance of $25,000 or higher
• Open an account

9. Radius Bank Rewards Checking

• Fee-free? No; Radius Bank doesn’t charge a monthly fee, but it charges fees for overdrafts, dormant accounts, non-sufficient funds, returned items, stop payments, and other services.
• Deposit required? Yes; $100
  
• Can be managed entirely online? Yes
• APY: 0.10% for balances under $100,000; 0.15% for balances of $100,000 or more
• Open an account

10. Discover Cashback Debit

• Fee-free? Yes
• Deposit required? No
  
• Can be managed entirely online? Yes
• APY: None, but offers 1% in cash back on up to $3,000 in debit card purchases per month
• Open an account

11. BBVA Free Checking Account

• Fee-free? No; BBVA Free Checking has no monthly service charge, but does charge for things like insufficient funds, out-of-network ATMs, and stop payments.
• Deposit required? Yes; $25
  
• Can be managed entirely online? Yes
• APY: None; instead, offers cash back (variable amounts) on debit card purchases
• Open an account

Interested in setting up a savings account, too? See our list of the best savings accounts.