Top 7 Checking Accounts in the United States
Discover the top seven checking accounts in the US, featuring options with low fees, high interest rates, and advanced mobile banking features. Whether you seek online convenience or local access, this guide helps you choose the best account tailored to your financial needs, ensuring a hassle-free banking experience across the nation.
Top 7 Checking Accounts in the US
A checking account is a bank account designed for everyday financial transactions like deposits, withdrawals, electronic transfers, and in-person or online purchases. These accounts are essential for managing daily expenses such as utilities, rent, and healthcare bills. While most checking accounts share similar features, they can vary in specific benefits and requirements. Conducting thorough research helps in choosing an account that best fits individual needs.
Bank5Connect
If you seek competitive interest rates with low minimum balance requirements, Bank5Connect is a good option. It offers a no-overdraft fee checking account with a starting balance of just $10. Maintaining a $100 daily balance can earn interest on online checking accounts.
Discover Bank
This fully online bank offers checking accounts without minimum balance requirements. While it doesn't provide account opening bonuses, it charges no ATM fees. Its mobile platform is compatible with both Android and iPhone, offering robust features for digital banking.
Ally Bank
Known for its free checking accounts, Ally Bank also offers attractive interest rates. They reimburse third-party ATM fees and don't impose minimum deposit requirements. Interest rates range from 0.10% for balances under $15,000 to 0.60% for higher balances.
Capital One 360
This account features a competitive yield, especially for higher balances. Its innovative mobile app simplifies deposits, allows real-time ATM location tracking, and enables easy person-to-person transfers. No minimum deposit or balance is required, though some fees can apply, such as $5 for statement copies or $9 for insufficient funds.
Bank of Internet USA
This online bank offers a 1.25% yield if certain conditions are met, such as at least 10 debit card transactions per month and a $1,000 minimum monthly deposit. There is no minimum daily balance, and the interest increases with transaction activity and deposit amounts.
Independent Bank
Based in Texas but offering nationwide access, this bank has modest interest rates initially but can grow up to 1.50% with regular usage. Making around 12 debit transactions per month is advised. It requires a $100 minimum deposit but does not enforce minimum balance maintenance. Its mobile features include bill pay, ATM locator, check deposit, and text alerts, compatible with both iPhone and Android devices.
FNBO Direct
This online bank requires only a $1 minimum opening deposit and no minimum balance. It offers a 0.65% annual yield on all balances. Its mobile features include bill pay and peer-to-peer money transfers. Outgoing wire transfers cost $15, and cashier checks are $10.
When opening a checking account, consider these top options in the US for a seamless banking experience tailored to your needs.
