*Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.
Best checking accounts of January 2022
While savings accounts may serve as a great place to grow money or keep emergency funds, checking accounts are optimal tools for everyday expenses and transactions.
The best checking accounts don't charge monthly fees or make it easy to waive them. They'll also come with unique perks or features, like cash-back rewards, early direct deposit, or a competitive interest rate.
We surveyed over two dozen financial institutions to find banks that offer appealing checking account options.
Our top picks come with a debit card, FDIC insurance , and mobile app access. Most are free of monthly maintenance fees, too, or could be after meeting certain deposit or balance requirements.
Our expert panel for this guide
We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best checking accounts for your needs. You can read their insights at the bottom of this post.
InsiderWe're focusing on what will make a checking account most useful, including monthly fees, ATM access, rewards, and more.
Learn more about our top picks
0.10% APY None 0.10% APY None- Pros & Cons
- Details
- 0.10% APY on all account balances
- No opening deposit or minimum account balance
- No monthly service fee
- No foreign transaction fee
- Range of overdraft protection options
- Processes direct deposits up to 2 days early
- Doesn't reimburse out-of-network ATM fees
- Limited access to customer service by phone
- New Capital One 360 Checking customers who open a new account from 6/16/2021 to 8/17/2021 using promo code BONUS150 and complete two direct deposits each worth $250 or more within 75 days of account opening, will receive $150
- Over 70,000 free ATMs nationwide
- Over 470 branches in 8 states and DC
- Interest compounded daily, paid monthly
- FDIC insured
- Pros & Cons
- Details
- Earn up to 1% cash back on up to $3,000 in purchases per month
- No monthly service fee
- Over 60,000 ATMs
- Enroll in free overdraft protection
- Debit card can only be used in the US, Canada, Mexico, and the Caribbean
- Only 1 branch location
- Earn 1% cash back on up on up to $3,000 per month in eligible debit card purchases
- 100% US-based customer service available 24/7
- No opening deposit or minimum account balance
- No monthly maintenance fees
- Over 60,000 ATMs
- FDIC insured
- Pros & Cons
- Details
- No opening deposit
- No minimum account balance
- Unlimited out-of-network ATM reimbursements
- No foreign transaction fees
- Free overdraft protection
- Must also open a Schwab One brokerage account
- $25 overdraft fee if you don't enroll in protection
- 24/7 live online chat
- No ATM network, but unlimited ATM fee reimbursements
- Interest compounded daily, paid monthly
- FDIC insured
- Pros & Cons
- Details
- Earn 1% cash back on credit purchases if you have at a $2,500 balance on your account
- Earn interest on your checking account
- No monthly service fee
- Receive your paycheck 2 days early
- Unlimited refunds on out-of-network ATM fees
- Overdraft protection is available that lets you link to another account
- $100 minimum opening deposit
- Must have $100,000 in your account to earn the highest APY
- $25 non-sufficient funds charge
- $5 daily overdraft fee after the 5th straight day of a negative balance
- Interest compounds monthly, not daily
- Earn 1% cash back on all credit purchases if you have at least $2,500 in your account
- Earn 0.00% APY if you have an account balance of $0.00 to $2,4999.99
- Earn 0.10% APY if you have an account balance of $2,500 to $99,999.99
- Earn 0.15% APY if you have an account balance of $100,000 or higher
- Access to over 325,000 surcharge-free ATMs through the NYCE, SUM and MoneyPass ATM networks
- Interest compounded monthly, paid monthly
- Member FDIC
Pros
Cons
Why it stands out: With no monthly service fees, no foreign transaction fees, and a variety of overdraft protection options, Capital One is one of the cheapest checking accounts out there. It also offers access to over 39,000 Capital One and AllPoint ATMs and connects to Zelle for digital money transfers. All balances earn 0.10% APY APY. Plus, Capital One ranks No. 1 on J.D. Power's 2021 US National Banking Satisfaction Study .
What to look out for: Minimal branch locations. Though Capital One Cafés are popping up in big cities around the US, the bank only operates about 470 branches in nine states.
None $0 None $0Pros
Cons
Why it stands out: Discover doesn't charge monthly fees, and you can enroll in free overdraft protection. You'll earn 1% cash back on up to $3,000 in debit card purchases every month, and we've chosen Discover as one of our favorite rewards checking accounts .
What to look out for: Location restrictions. You can only use your Discover debit card in the US, Canada, Mexico, and the Caribbean.
0.03% APY None 0.03% APY NonePros
Cons
Why it stands out: Charles Schwab doesn't charge ATM fees, and the bank offers unlimited refunds worldwide when an ATM provider charges you a fee. Charles Schwab also doesn't charge foreign transaction fees, and it has free overdraft protection.
What to look out for: Brokerage account. You must open a brokerage account with Charles Schwab before opening a checking account.
0.00% to 0.15% APY $100 0.00% to 0.15% APY $100Pros
Cons
Why it stands out: Free access to over 325,000 ATMs nationwide. This account gives you the opportunity to earn both cash-back rewards and interest if you maintain a $2,500 balance. You can earn cash back on an unlimited amount each month, and you'll earn up to 1% on select purchases.
What to look out for: Minimum balance and compound interest . You must have $2,500 to make the most of your checking account. LendingClub also compounds interest monthly rather than daily, which will affect how much you earn in the long run.
Up to 1.00% APY $50Via PakApNews