10 Best Checking Accounts Of 2025
This account is especially beneficial for those who regularly make purchases with their debit card. Discover also offers free access to over 60,000 ATMs nationwide and no monthly fees. Almost everyone has a checking account to deposit paychecks and cash for monthly expenses. Checking accounts stand out for being easily accessible, but, unlike savings accounts, checking accounts generally don’t accrue interest.
- This can help you avoid accidentally spending more than what’s in the account.
- Choosing the best checking account depends largely on your personal needs and financial habits.
- For students, many checking accounts offer no monthly maintenance fees and low or no minimum balance requirements, which makes them a great option for those just starting out.
- These accounts may charge small fees for certain services, but they often waive those fees if you meet specific conditions, such as enrolling in direct deposit or maintaining a modest balance.
It’s the destination for your income, and the point of egress for your bills. If you’d prefer to have a bit of anonymity, though, consider opening a single joint checking account for you and your spouse, as well as separate ones for each of you. Each of your incomes could go into your respective checking accounts, and then you can fund your joint checking account with regular transfers to cover family expenses (such as a mortgage). While you’ll have more autonomy of your income, you’ll have to spend more time making sure you have enough money in the correct accounts to cover your monthly bills. There really is no advantage for a single individual, though, to have multiple checking accounts. This is a great option if you prefer a debit card to a credit card in order to manage your spending.
By understanding which services are most relevant to your life, you’ll be able to make an informed decision and end up with the best possible checking account for you. The best checking account is the NBKC Bank Everything Account, which earned 5.0 stars thanks to its combination of low fees, convenient customer service features and high interest rates. In our independent analysis, it beat out 157 checking accounts offered by 66 nationally available banks and credit unions. Choosing the right checking account is an important step in managing your finances, and it all comes down to your individual needs.
SoFi
To determine which checking accounts offer the best return on your money, CNBC Select analyzed dozens of U.S. checking accounts offered by online and brick-and-mortar banks, including large credit unions. We narrowed down our ranking by only considering those checking accounts that offer an above-average APY and manageable ways to earn the high return. Take note that interest-bearing checking accounts will usually have more requirements, such as setting up a direct deposit and making a certain number of monthly debit card transactions, to earn the high APY. The Schwab Investor Checking account is a compelling choice, especially for frequent travelers and investors. Customers receive fee-free access to ATMs all over the globe, which means you’ll have easy access to your money whether you’re at home or abroad.
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You can earn top-tier interest with basic account activity, all while enjoying fee-free ATM access across the country. Greg McBride is a CFA charterholder with more than a quarter-century of experience analyzing banking trends and personal finance. As Bankrate’s Chief Financial Analyst, he leads the team that researches and provides guidance on savings vehicles, from high-yield savings accounts to CDs. Through Bankrate.com’s Money Makeover series, he has helped consumers develop their saving habits, maximize their returns on deposit accounts, and make smart decisions about where to keep their cash. He is frequently quoted by major media outlets on banking trends and Federal Reserve policy impacts on deposit rates. LendingClub Bank is an FDIC-insured online bank known for its Rewards Checking account that earns cash back and interest and also offers ATM fee reimbursement.
Best banks for checking accounts in August 2025
Traditional checking accounts often come with access to a physical branch where you can speak with a representative in person if needed. While this is great for those who prefer face-to-face banking, it might not be necessary for everyone. Axos Bank is an online bank whose personal financial products include banking, investing, retirement funds, mortgages, personal loans, auto loans and marine loans. It also offers small business banking, commercial banking and commercial lending. Moreover, Capital One promotions in 2025 offer a generous checking bonus, providing an excellent opportunity for new customers to earn extra cash simply by opening a checking account. Like savings accounts, but also commonly come with debit cards and/or check-writing privileges.
Checking Account Features to Look For
However, the rate is significantly higher than what you would find in most standard checking accounts. Online banks tend to offer the most fee-friendly checking accounts, thanks to their lack of physical branches. Without the overhead costs of maintaining brick-and-mortar locations, these banks can pass the savings on to you by eliminating or reducing fees. Many online banks offer accounts with zero monthly maintenance fees and free access to a broad network of ATMs. If you’re looking for a checking account that offers more than just basic services, a high-yield checking account might be the right option for you. These accounts provide a higher interest rate than traditional checking accounts, allowing your money to grow faster.
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- Fulfilling one set of these requirements will also earn you a very high rate on Axos ONE Savings.
- These accounts also tend to come with monthly activity requirements, such as a minimum number of transactions, so they are best for people who use their account frequently.
- Take note that interest-bearing checking accounts will usually have more requirements, such as setting up a direct deposit and making a certain number of monthly debit card transactions, to earn the high APY.
Business checking accounts generally offer higher transaction limits, allowing you to handle large volumes of payments and deposits. They also often come with business-specific tools like invoicing, payment processing, and integrations with accounting software such as QuickBooks or Xero. Choosing the right type of checking account is one of the most important steps in managing your finances. With so many different options available, it’s checking accounts essential to understand the benefits and limitations of each type. Below are the most common types of checking accounts, each catering to different financial needs and lifestyles. Ultimately, a great checking account should align with your specific needs, offering ease of use, minimal fees, and valuable features that help you manage your finances effectively.
Additionally, the account includes no foreign transaction fees on international purchases, which can save you a lot of money if you use your debit card while traveling abroad. This account also offers 24/7 customer service, which is ideal if you encounter any issues while abroad. Charles Schwab’s High Yield Investor Checking account is a top choice for frequent travelers. This account offers free ATM access worldwide and no foreign transaction fees.
The interest rates are typically much higher than what you’d find in a regular checking account, though they tend to be lower than those offered by savings accounts. A checking account is a type of bank account that allows you to deposit and withdraw money for everyday transactions. Unlike a savings account, which is meant for long-term savings and earning interest, a checking account is designed for easy access to your funds. It’s a central part of your financial toolkit, allowing you to pay bills, make purchases, and manage cash flow efficiently. Many of the best checking accounts on our list come from online-only banks because those banks tend to charge fewer fees and offer more perks.
Texas Capital Bank also scored well on our review of customer satisfaction metrics. While Discover offers 60,000 fee-free ATMs, you won’t receive ATM reimbursements if you use an out-of-network ATM. Consider this account if you have a Charles Schwab brokerage account, use ATMs frequently and don’t mind sacrificing rewards for lower fees.