Best Checking Accounts in October 2024

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A good checking account should offer access to ATMs everywhere you need them, super-simple mobile banking so you can manage your money from anywhere, and no account fees. Oh, and good customer service is a must!

Based on that, we’ve put together a list of the top checking accounts to cover a variety of banking styles.

Best Overall: SoFi Checking and Savings Account

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SoFi is a complete financial services company that offers investing, insurance, loans, and even crypto. Its banking services are simple to use and come with a comprehensive mobile app that gives you access to all your accounts in one place.

The SoFi Checking and Savings Account is a no-fee checking account with an attached high-yield savings account. The account offers a solid 4.30% on savings balances, and 0.50% on checking account balances. 

You can also get a welcome offer if you receive a direct deposit in the first 25 days of the account. You'll receive a $50 bonus if the direct deposit is between $1,000 and $4,999. Direct deposits of $5,000 or above will earn a $300 bonus.

There are no monthly maintenance fees and, unless you're trying to earn the welcome bonus, no minimum deposit.

Other highlights of the SoFi Online Checking Account include:

• Access to 50,000+ fee-free ATMs
• Mobile check deposit and bill pay
• Send money to other SoFi users instantly
• Up to $50 in overdraft coverage
• Earn cashback with the SoFi debit card

Best for Cashback: Upgrade Rewards Checking Plus

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Upgrade is an online-only bank that offers a rewards checking account and connected high-yield savings account. 

The Upgrade Rewards Checking Plus account comes with no fees, no account minimums, and a rewards debit card that earns cashback. You can earn up to 2% cashback at select retailers, and 1% cashback on all other purchases.

Here are some key features:

• Mobile check deposit
• Joint accounts available
• Over 55,000 fee-free ATMs (Allpoint network)
• Up to 10% cashback through partner Dosh at specific retailers

Upgrade also has a Performance Savings account that you can pair with Rewards Checking, that offers 1.5% APY on all deposits.

You can increase this to 4.69% APY if you keep a balance of at least $1,000 or set up direct deposit and deposit at least $1,000 per month into the account.

Best for No Fees: Chime Checking Account

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Chime is a neobank that is backed by The Bancorp Bank and Stride Bank. The Chime Checking Account has no monthly fees, no account minimums, and offers free overdraft protection of up to $200. 

Chime also offers fee-free ATM access to over 50,000 MoneyPass ATMs.

Chime is an online-only bank, but is one of the few online banks that offers free cash deposits at Walgreens and Duane Reade locations.

Plus, you can get paid up to two days early when you set up direct deposit from your employer. 

Best for ATM access: Capital One 360 Checking

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Capital One is a large online bank known for its credit cards, but it also offers a fee-free checking account and access to a huge selection of ATMs nationwide. Capital One has also an intuitive mobile app that makes it easy to manage your account 24/7.

Capital One does have a few in-person locations, called “Capital One Cafes,” which offer modern workspaces, free WiFi, and access to coffee and food. 

There is no minimum deposit required to open an account and no monthly maintenance fees.

Other highlights of the Capital One 360 Checking account include:

• Over 70,000 fee-free ATMs
• Zelle payments
• Account locks and protection
• Account alerts

Best for College Students: Chase College Checking℠

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Chase is the largest bank in the U.S., with thousands of locations across the country, plus almost any type of banking service imaginable.

Most of Chase's checking accounts come with high fees, except for the Chase College Checking. You must be between the ages of 17 and 24 to qualify. This account has no fees while you’re in college, for up to five years, no minimum deposit, and a $100 sign-up bonus.

To qualify for the $100 bonus you have to complete 10 qualifying transactions in the first 60 days of account opening. Qualifying transactions include debit card purchases, online bill payments, Zelle transactions, ACH credits, and Chase QuickDeposit.

Other highlights of the Chase College Checking include:

• Unauthorized debit card purchase protection
• Zelle payments
• Access to over 4,500 Chase in-person branches
• Free credit score monitoring

Best for High APY: Axos Rewards Checking

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Axos is an online bank that offers free checking with up to 3.30% interest. However, to earn that top rate, you have to jump through some hoops. You'll need to:

• Have at least $1,500 in direct deposit per month
• Complete 10 debit card transactions per month
• Keep an average daily balance of $2,500 in an Axos Invest Managed Portfolio account
• Keep an average daily balance of $2,500 in an Axos Invest Self-Directed Trading Account
• Have a mortgage, personal loan, or auto loan with Axos, and use the account to make the payment

If you don't have an investment account or a loan, you can still earn 0.70% APY by meeting the direct deposit requirements and having 10 debit card transactions per month.

Those hurdles could be worth it, though, since the Axos Rewards Checking charges no monthly maintenance fees, no overdraft of non-sufficient fund (NSF) fees, and all domestic ATM fees are reimbursed. It also has zero minimum monthly balance requirements (apart from earning the welcome bonus). However, there is a $50 minimum to open an account.

Other highlights of the Axos Rewards Checking account include:

• Connect the account with an investment account for automated investing
• Deposit cash with Green DOT ATMs at 7-Eleven locations (fees apply)

Best for Digital Banking: Quontic High-Interest Checking Account

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Quontic is an innovative online bank that offers a high-interest checking account paying up to 1.10% APY. All you have to do is make 10 debit card purchases each month for at least $10. They also have a “pay ring,” letting you tap to pay without a debit card.

Quontic checking accounts don’t have monthly fees or overdraft charges, and you can even get free cashier’s checks. There is a $100 minimum to open an account.

Other highlights of the Quontic High-Interest Checking account include:

• Access to 90,000+ ATMs for free
• 24/7 online and mobile banking
• Can connect to a high-yield savings account

How To Choose a Checking Account

When searching for the right checking account, consider what you will use it for and what features are most important to you.

For example, maybe you don’t care about physically going into a bank, but you value low fees and the mobile banking experience. In this case, an online bank would be your best bet.

Here are a few questions to ask yourself before choosing your checking account:

• What will I use this account for?
• Do I need paper checks?
• Do I prefer banking online or in person?
• What services will I use (cashier’s checks, bill-pay, money transfers, etc.)?
• Do I need ATM access?

Don’t forget to ask about fees, as some checking accounts charge monthly fees or require a minimum balance.

Tips for Managing Your Checking Account

After opening your checking account, it’s important to set up all the features you will be using. Here are a few things to do:

• Arrange direct deposit with your employer
• Create your online account to log in
• Request a debit card 
• Request paper checks (if needed)
• Move bill autopay over to your new checking account
• Set up account alerts
• Connect your budgeting app to your new account (if applicable)
• Download the banking mobile app and log in

Once your account is set up, you should be able to completely manage your account from the bank’s website or mobile app.

READ MORE: Checking vs. Savings Accounts: What's the Difference?

FAQs

What are the requirements for opening a checking account?

To open a checking account, you typically must be 18 years old and a legal U.S. resident. You’ll need to submit personal information like your full name, address, email, and phone number.

You also typically need a Social Security number and to submit a government-issued ID for verification.

Some accounts require a minimum deposit.

Are online banks better than traditional banks?

Traditional banks offer more in-person banking locations and sometimes more services, but they also generally charge monthly maintenance fees.

Online banks offer lower fees, better interest rates, and a better mobile banking experience in most cases.

If you prefer in-person banking or have a specific banking need, traditional banks might be your only option. If you don't mind doing all your banking digitally, then online banks will serve your needs.

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Disclosure: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.