Our Best Checking Accounts for 2025

 It lets you deposit money, make payments, and track your spending. Through features like debit cards, direct deposit, and online banking, these accounts serve as the primary hub for managing your everyday finances.

In this guide, we evaluate our best online banks and their checking accounts based on key factors, including fees, ATM access, digital features, and rewards programs to help you find the most suitable option for your needs. 

What to Look for in a Checking Account

• Account types: Choose the account type that suits your needs: basic for simple banking, premium for perks, or specialized for students or seniors.
• Fees: Look for accounts with no monthly maintenance fees or easy ways to waive them, and watch out for charges like overdraft, ATM, and foreign transaction fees.
• Rewards and bonuses: Compare sign-up bonuses (typically requiring direct deposit) and ongoing rewards like cash back on debit purchases or high-yield interest rates.
• ATM network: Consider network size and out-of-network fee reimbursement policies, especially if you travel or use ATMs frequently.
• Digital features: Evaluate mobile app quality and availability of features like mobile check deposit, free online bill pay, and integration with payment services.
• Overdraft options: Consider accounts with flexible overdraft programs, such as low fees or overdraft protection through linked accounts.
• Interest rates and high-yield options: Standard checking accounts offer minimal interest (around 0.10%), but some online banks provide high-yield accounts with 2% to 4.5% APY for qualifying direct deposits, ideal for large balances.

Our Best Checking Accounts for 2025

1. SoFi® Checking and Savings

SoFi Checking & Savings Visit Site

SoFi* is an online-only bank that provides a unified checking and savings experience through its mobile app. When you open an account, you get checking and savings capabilities that you can manage from a single dashboard. Up to 4.00% APY is available with direct deposit or $5,000 in qualifying monthly deposits.

Why we like it: The account lets you transfer instantly between checking and savings, send money through Zelle or PayPal, and make free bank transfers. SoFi eliminates common banking fees and offers automatic savings features and free overdraft coverage. Plus, it includes budgeting tools and financial planning through its mobile app.

Potential drawbacks: Mobile check deposits can occasionally face delays in clearing, particularly for new accounts. Additionally, cash deposits must be made through a third-party service, as SoFi doesn’t accept cash directly.

2. Discover® Cashback Debit Checking

Discover® Cashback Debit Checking Visit Site

Discover offers a fee-free checking account that combines debit rewards with traditional banking features. While acceptance is more limited than Visa or Mastercard in the US, the account creates extra value by integrating with Discover's broader credit card rewards ecosystem.

Why we like it: The account earns 1% cash back on up to $3,000 in monthly debit purchases while charging no fees. Free cash deposits at Walmart and instant Zelle transfers provide convenient options for managing your money. 

Potential drawbacks: Limited international acceptance can make traveling abroad challenging, and some U.S. merchants don't accept Discover cards. Plus, the monthly cash back rewards are capped at $30.

3. Chime

Chime® Visit Site

Chime** is a mobile banking app that offers checking accounts backed by FDIC-insured partner banks. Unlike traditional banks, Chime operates entirely through your smartphone. It focuses on helping you manage your money better with features like early access to your paycheck and tools to avoid overdraft fees.

Why we like it: Chime excels at removing common banking barriers with features like SpotMe®, which covers overdrafts up to $200 without fees and early paycheck access up to $500. The ability to send instant money transfers and make free cash deposits at Walmart makes it particularly convenient for mobile-first banking.

Potential drawbacks: Since Chime is completely digital, there are no physical branches for in-person banking services. Mobile check deposits may take longer than traditional banks and cash deposits can only be made at specific partner locations.

4. One Cash Debit Rewards

One Cash Visit SIte

One Cash*** partners with Coastal Community Bank to provide an online checking account that comes with a debit Mastercard. The platform focuses on earning rewards through your debit card purchases while offering standard digital banking features.

Why we like it: The rotating 5% cash back categories set One Cash apart, covering everyday expenses like groceries, restaurants, and rideshares. Plus, you get 3% back at Walmart and access to seamless mobile banking tools. 

Potential drawbacks: Overdraft protection and expanded ATM access require monthly direct deposits. The rotating rewards categories can be complex to track, and cash back at Walmart is capped at $50 annually.

Methodology: How We Rate Our Best Checking Accounts

When selecting our top checking account recommendations, we take a thoughtful, multi-faceted approach to identify options that will work well for a diverse range of customers. We aim to provide you with a comprehensive and trustworthy guide to online banking. To achieve this, we've conducted thorough research analyzing user reviews and feedback, focusing on the key factors and concerns of online banking customers. 

Key Factors in Assessing Checking Accounts

When evaluating our best checking accounts, we focus on several essential criteria:

• Service quality: We assess overall service quality, including account fees, rewards, security measures (like Federal Deposit Insurance Corp. (FDIC) backing), customer support, and the digital banking experience.

• Customer support: We prioritize accounts from banks that offer responsive and accessible customer support across multiple channels.

• Fee transparency: Our evaluation emphasizes checking accounts with clear fee structures that minimize common charges such as monthly maintenance and overdraft fees.

• Competitive interest rates: We analyze the APY offered on checking balances to ensure competitive interest rates.

• Security measures: Robust online security is vital; we review banks' protocols for two-factor authentication, data encryption, and fraud prevention.

• Digital experience: We evaluate the design, functionality, and user-friendliness of banks' digital platforms, including mobile apps.

• Flexible fund access: We value accounts that allow quick transfers between personal accounts and external destinations.

• Cost-effective features: Our recommendations highlight accounts with free services, such as no-fee checking and ATM fee reimbursements.

Additional Considerations

While not always critical, we also consider:

• Physical branch availability: Some users prefer access to physical branches alongside online banking.

• Direct deposit incentives: Bonuses for setting up direct deposits can be appealing.

• International services: Features like global ATM fee reimbursement and easy wire transfers are important for travelers.

• Personalization options: Tools for savings management and goal-setting can enhance financial organization.

6 Different Types of Checking Accounts

1. Traditional checking accounts: The most common type of checking account is a traditional account, which can be opened at most banks and credit unions. They typically offer checks and a debit or ATM card for easy access to your funds.

2. Premium checking accounts: These accounts provide additional perks compared to traditional accounts, often at a higher cost. It’s important to note that premium checking accounts tend to charge fewer fees, but require a higher minimum deposit and monthly balance. Benefits may include waived ATM fees, free personal checks, and lower mortgage interest rates.

3. Student checking accounts: Specifically designed for students, these accounts usually waive monthly fees but offer limited features. They serve as a straightforward banking option for young adults managing their finances.

4. Senior checking accounts: Tailored for older adults, senior checking accounts often come with a minimum age requirement. In exchange, they typically waive monthly maintenance fees and provide enhanced overdraft protection.

5. Interest-earning checking accounts: Unlike traditional checking accounts these accounts allow you to earn interest on your balance. They are ideal for those who need frequent access to funds while still wanting to grow their savings.

6. Rewards-earning checking accounts: Less common than other types, rewards-earning accounts offer points or cash back instead of interest on your balance. They allow you to earn rewards for everyday spending, which can be particularly appealing for frequent travelers who can redeem points with airline and hotel partners.

Understanding Checking Account Interest Rates

Most checking accounts offer low interest (around 0.08%) because they're built for frequent transactions rather than saving. Unlike savings accounts that limit withdrawals to encourage saving, checking accounts prioritize easy access through debit cards, checks, and unlimited transactions.

However, some online banks now offer high-yield checking accounts with rates up to 5% APY. These typically require:

• Direct deposit setup

• Minimum monthly deposits

• Minimum debit card transactions

• Maintaining minimum balances

Checking Account Fees to Look Out For

According to the Consumer Financial Protection Bureau (CFPB), checking account holders pay an average of $9.87 per month in fees, including transfer and overdraft fees. 

Here are some common fees to look out for:

• Monthly maintenance fees

• Overdraft fees

• Foreign transaction fees

• ATM fees

• Insufficient funds fees

Frequently Asked Questions (FAQs) 

What is a checking account?

A checking account is a deposit account at a bank or credit union that grants you access to your funds. You can deposit, withdraw, make transfers, or use a debit card to move your money. 

How are prepaid debit cards different from checking accounts?

A prepaid debit card is entirely different from a checking account. While a checking account allows you to write checks, use a standard debit card, and make transfers, a prepaid debit card isn’t typically linked to an account. Instead, you load funds to the prepaid debit card and use it for purchases until you run out of money. 

Are checking accounts safe?

Yes, checking accounts are safe. Legitimate accounts are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Association (NCUA), which will reimburse you if an institution faces insolvency. 

How can I close a checking account?

Closing a checking account can be done in a couple of different ways. Generally speaking, you should be able to do so online. Otherwise, you can call your bank or credit union and ask a customer service representative to close it. 

*SoFi Disclaimer

Terms Apply
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 Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.

SoFi members with Direct Deposit can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% 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 12/3/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

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 theSoFi Checking & Savings Fee Sheet for details at http://www.sofi.com/legal/banking-fees/

Additional FDIC Insurance - SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance 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 $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms See list of participating banks at SoFi.com/banking/fdic/receivingbanks 

**Chime Disclaimer

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.

˜ Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.

* SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your Visa debit card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime's sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.

^ 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.

⁺ The Annual Percentage Yield ("APY") for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.

¹ Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account into your savings account. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more into your savings account.

² FDIC deposit insurance limit to $250,000 per depositor, per insured bank, per ownership category. For Stride Savings Account depositors, funds are eligible for FDIC insurance when it arrives at the bank. Please visit www.chime.com/savings-apy-and-program-banks/ for more details on FDIC insurance.

³ Sometimes instant transfers can be delayed. The recipient must use a valid debit card to claim funds. See your issuing bank’s Deposit Account Agreement for full Pay Friends Transfers details.

⁴ The average national savings account interest rate of 0.17% is determined by FDIC as of September 19, 2022 based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. Visit National Rates and Rate Caps to learn more.

⁵ Chime will be offering members a chance to get their federal tax refund up to 5 days early when they file directly with the IRS and direct deposit with Chime. Getting your federal tax refund early is simple, just sign up for a Chime Checking Account, file your return with the IRS, and set up your tax refund to direct deposit into your Chime Checking Account. After setting up direct deposit, members will also be eligible to get regular paychecks up to 2 days early^.

***One Cash Disclaimer

1. 3.75% annual percentage yield (APY) applies to the Savings balance of One Cash customers who either (i) received $500 or more of Direct Deposits in the previous month or (ii) have a total daily account balance of $5,000 or more. 3.75% APY is also earned on Pay Autosave balances without these deposit or balance requirements. In all instances, 3.75% APY is limited to a total Savings balance of up to $250,000. All other Savings balances will earn 1.00% APY. APYs are as of 12/20/2024, but may change at any time before or after account opening.

2. To receive 3% cash back, eligible customers (at the time their purchase settles) must (i) have received $500 or more of eligible direct deposits in the previous month, or (ii) have a total account balance of $5,000 or more. 3% cash back is limited to up to $50 per year and applies only to purchases made at U.S. Walmart locations and on Walmart.com. This promotion may not be combined with other One promotions that offer cash back on purchases at Walmart. Terms Apply.

3. Use your One card at any Walmart Money Center, cashier, or Customer Service desk to deposit or make a cash withdrawal for free.

4. Cash back can be earned through the Debit Rewards Program. Individual offer details can be found in the One app. Terms Apply.

5. Direct deposit may be available up to 2 days in advance, but depends on when your employer sends paycheck data.

6. Available with Direct Deposits totaling at least $500 in the previous month. You must be 18 or older to receive Overdraft Protection. When on, Savings Backup will be used before Overdraft Protection. Overdraft balance is due right away. Transactions eligible for Overdraft Protection are at the discretion of One and may exclude certain transactions (e.g., bill pay, global transfers). See details

7. Allpoint Network ATM transactions are fee-free for accounts with eligible direct deposits totaling at least $500 in the previous month. For all other ATM transactions the One ATM Fee will apply and third-party ATM fees may be incurred.