There are plenty of options for someone looking to open a new checking account. Why wouldn’t there be? A checking account is the cornerstone of most people’s personal finances. It’s the place where payments, deposits and withdrawals are made. As such, it’s imperative that your checking account is working with you (and your other bank accounts) and not against you.

We can help you sort through all your options and find the best checking account for you. We analyzed more than two dozen options across a broad range of categories in both traditional and online-only banks. As with any financial account, a handful of key features rise above the rest: ATM and branch availability, overdraft protection, fees, minimum deposit requirements, bank bonus enticements and reimbursements and just how easy it is to move money in and out of an account — whether by direct deposit, mobile deposit or old-school cash deposit. Interest rate isn’t really a factor with a standard checking account (more on that below).

We also looked at some new, trendy features, such as banks making funds available a few days early to customers who have signed up to receive their paycheck via direct deposit. Each financial institution’s online banking capabilities were taken into consideration as well.

We paid particularly close attention to bank account fees. Even if a bank touts a “free checking account,” that might not be the whole truth. If you’re considering a new checking account, scrutinize the fee schedule, which will reveal how much a bank charges for a “monthly maintenance fee,” using an out-of-network ATM, falling below a minimum balance requirement or spending more than you have (resulting in an overdraft fee). You don’t want to get hit with a $4 fee just for making an ATM withdrawal at the wrong machine.

Though some fees may apply only in certain conditions — you haven’t set up direct deposit or you want to receive monthly paper statements, for example — such waivers should be carefully scrutinized. You won’t want to be in a position where missing your minimum deposit by a couple of bucks or keeping an account balance that’s slightly too low racks up a “monthly maintenance fee.”

We’re also a bit dubious of checking accounts that feature cash-back and rewards incentives. Though a 1% cash-back account could be moderately lucrative, this type of account may obligate you to hit a monthly spending threshold or maintain a certain minimum balance. If earning cash back or rewards is your priority, you’re better off using a cash-back credit card, the best of which offer significantly higher rates. And if you tend to maintain a high account balance in your checking account, consider putting some of that cash into a savings account, CD or money market with a higher annual percentage yield.

Best checking accounts, compared

Best overall checking account

Best overall checking account (runner-up)

Best for in-person banking

Highest APY

Another good choice

Bank/institution

Radius

NBKC Bank

Chase

Consumers CU

Alliant Credit Union

Account

Rewards Checking

Everything Account

Total Checking

Rewards Checking

High-Rate Checking

Branch access

No

Limited (4 locations)

Yes

Shared Branching

No

ATMs (number/network)

35,000 / MoneyPass and SUM

34,000 / MoneyPass

16,000 ATMs / 4,700 Branches

30,000 / CO-OP

80,000 / AllPoint

Out-of-network ATM fee reimbursement (monthly)

Unlimited

$12

None

Unlimited

$20

Overdraft fee

$25

None

$34

$30

$25

Foreign transaction fee

None

None

$5 per withdrawal and $2.50 for transfers/inquiries at ATMs outside the US

$3 ATM, 2%

1%

Monthly fee

None

None

$12

None

None

Minimum opening deposit

$100

None

None

$5

None

It may be helpful to think of a checking account as one part of a multifaceted personal financial system. Though it may require some management on your end, there are benefits to using an array of tools, with each serving a primary function: a checking account for receiving money and paying bills, a credit card for spending (and earning rewards or cash-back incentives) and a savings account for storing short-term savings or an emergency fund — with investment and brokerage accounts driving long-term savings goals such as college and retirement. We update this regularly.

Is it standard practice to pay fees regularly to use a checking account?

No. Some banks may pass off fees as the normal costs of doing business, but with all of the free checking options available, you should avoid fee-heavy accounts. There are plenty of free checking options that will give you the tools you need to receive income and make payments, in addition to other benefits, without incurring any regular charges in the form of a monthly service fee.

How many checking accounts should I have?

For most people, the answer is one. Even if you can earn a little extra money by combining rewards or interest, it’s usually not worth the time and hassle. Your personal checking account should be simple, easy to use and easy to manage. If you run a business, you should look into opening a separate business checking account, which is different from a standard checking account.

How do the ATM networks like MoneyPass and Allpoint work?

An increasing number of financial institutions are online-only (like some of the banks profiled above), without their own branches or ATM networks. Given this, an online bank will partner with established networks like MoneyPass or Allpoint, which place ATM locations in popular retail establishments such as pharmacies, grocery stores and convenience stores. People with an online checking account can use a “Find a nearby ATM” feature on their bank’s website or mobile app before making an ATM withdrawal to insure they won’t incur an ATM fee if their financial institution does not offer ATM fee rebates.

How much interest can I earn with a checking account vs. with a savings account?

While many accounts use an APY as a selling point, it’s important to note that a checking account’s interest rate will rarely net you much. A balance of $2,500 at a 0.10% APY earns you roughly $2.50 annually. In contrast, savings accounts generally deliver between 0.60% and 1%, which would net you between $15 and $25 per year. So if you’re looking for an interest-bearing checking account, you’re not going to find a great or even good one. Go for a savings account instead.

Checking accounts researched

Radius Rewards Checking NBKC Bank Everything Account Chase Total Checking Consumers Credit Union Rewards Checking Alliant Credit Union High-Rate Checking Chime Spending Account Axos Essential Checking Connexus Credit Union Xtraordinary Checking Simple Simple Account CIT Bank eChecking Wells Fargo Everyday Checking Bank of America Advantage Plus Banking Discover Cashback Debit Capital One 360 Checking Aspiration PNC Virtual Wallet with performance spend Betterment Fidelity Cash Management Account HSBC Choice CheckingTD Checking Current Bank Varo Checking AccountWealthfront Cash Account Novo BlueVine Business CheckingAlly Bank

More personal finance advice

Best personal loans for 2021Best secured credit cards for 2021
Best 0% APR credit cards for 2021

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.