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Best Online Checking Accounts of 2024
Maximize Convenience and Rewards with Top Checking Accounts
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What Is a Checking Account?
A checking account is an essential financial tool designed for daily transactions, such as managing expenses, paying bills, and handling routine purchases. Unlike savings accounts, which focus on long-term storage, checking accounts provide immediate access to your funds through checks, ATMs, and electronic transfers, making it easy to manage your money anytime you need it.
What You Need to Know About the Best Checking Accounts
When selecting the best checking account, it’s important to find one that aligns with your financial habits and lifestyle. We’ve researched top checking accounts that provide more than just a place to store your money.
- Low or No Overdraft Fees – We identify accounts with minimal or waived overdraft fees, helping you avoid unexpected charges and make your funds work harder.
- Reward Opportunities – Some checking accounts offer interest and cash-back rewards, maximizing your account’s earning potential.
- Accessibility and Convenience – Whether it’s online access, a user-friendly mobile app, or responsive customer service, we recommend accounts that simplify everyday banking.
Everyone has unique needs, so we break down the best options based on features that help you save money and make the most of your finances.
Banks on Our Site Provide Strong Checking Account Solutions
Streamline Your Spending with Low-Fee Accounts
Enjoy checking accounts with minimal fees, allowing you to keep more of your money. Find options that eliminate common charges like monthly maintenance fees, overdraft fees, and ATM fees, making it easier to manage daily expenses without unnecessary costs.
Access Your Money Anytime, Anywhere
Choose checking accounts with extensive ATM networks and advanced mobile banking features. From mobile check deposits to bill pay and peer-to-peer payments, these accounts make it simple to access your funds anytime, anywhere, directly from your smartphone.
Earn Rewards on Your Everyday Spending
Turn your daily transactions into earning opportunities with checking accounts that offer cash-back rewards or interest on your balance. Make the most of your spending by selecting accounts that reward you, helping you get more out of every dollar spent.
How to Select the Best Checking Account
When choosing a checking account, consider factors like FDIC insurance, minimum balance requirements, and the availability of perks. Here’s a breakdown:
- FDIC Insurance – Ensure the account is protected up to $250,000.
- Low Balance Requirements – Opt for accounts with manageable minimum balance requirements to avoid fees.
- Fee-Free ATM Access – Choose accounts with extensive ATM networks to avoid extra charges.
- Interest and Bonuses – Some accounts offer interest and sign-up bonuses.
- Mobile Features – Look for a mobile app with essential features like check deposits, transfers, and payment options.
American Express® Savings Accounts
Member FDIC
APY
4.00%
With $0 min balance for APY
No minimum balance and no monthly fees.
at American Express Bank
SoFi Bank Savings Accounts
Member FDIC
APY
4.60%
With $0 min. balance for APY
Earn up to $250 with direct deposit. Terms apply.
at SoFi Bank
Synchrony Bank Savings Accounts
Member FDIC
APY
4.30%
With $0 min. balance for APY
No minimum balance and no monthly fees.
at Synchrony
Marcus By Goldman Sachs
Member FDIC
APY
4.80%
With $0 min. balance for APY
No minimum balance and no monthly fees.
at Barclays
American Express® Savings Accounts
Member FDIC
APY
4.00%
With $0 min balance for APY
No minimum balance and no monthly fees.
at American Express Bank
SoFi Bank Savings Accounts
Member FDIC
APY
4.30%
With $0 min balance for APY
No minimum balance and no monthly fees.
at SoFi Bank
Synchrony Bank Savings Accounts
Member FDIC
APY
4.30%
With $0 min balance for APY
No minimum balance and no monthly fees.
at Synchrony
Barclays Online Savings Accounts
Member FDIC
APY
4.80%
With $0 min balance for APY
No minimum balance and no monthly fees.
at Barclays
Checking Account vs. Savings Account – Why Choose Checking?
While both accounts serve as essential banking tools, checking accounts prioritize liquidity and are best suited for daily transactions. Savings accounts, on the other hand, are ideal for long-term goals, offering higher interest rates and limiting withdrawals.
Opt for a checking account if you need frequent access to funds, while a savings account is better for stashing away money to grow over time. With Bank-Compare, explore accounts that match your financial needs.
5 Tips for Discovering the Best Checking Accounts with Bank-Compare
- Focus on Fees – Look for accounts with no monthly maintenance fees, ATM fee reimbursements, and low overdraft fees.
- Accessibility – Prioritize accounts that offer extensive ATM networks and digital banking features for on-the-go access.
- Interest and Rewards – Some checking accounts offer interest or cashback on purchases, adding value to your account balance.
- Mobile Banking – Choose an account with a user-friendly mobile app for easy transfers, payments, and balance tracking.
- Customer Service – Research the bank’s reputation for responsive support to ensure a hassle-free experience.
American Express National Bank: Savings Account
Additional Benefits:
- No minimum balance and no monthly fees.
- Strengthened by the service and reliability of American Express.
- Easy access to your money and 24/7 world-class customer service.
- Manage your account online with simple transfers and recurring deposits.
SoFi: Savings Accounts
Additional Benefits:
- Earn up to $300, depending on your direct deposit amount.
- Create Vaults dedicated to specific savings goals.
- Use AutoSave to automatically put part of your paycheck into savings.
- With Roundups, all of your debit card purchases are automatically rounded up to the next dollar and deposited into your savings Vault.
Synchrony Bank: Savings
Additional Benefits:
- Savings products with competitive rates, no required minimum balances, and no monthly fees.
- Save easy with Synchrony Bank. Our app makes it a snap to bank anywhere; and control accounts from your smartphone or tablet.
- Our App Makes It A Snap To Bank Anywhere and Control Accounts From Your Smartphone Or Tablet.
Barclays : Online Savings Account
Additional Benefits:
- An award-winning account with great rates, no minimum balances or monthly maintenance fees.
- Enjoy a rate greater than 5X the national average.
- Online transfers to and from other banks.
- Direct deposit to make saving simple and easy.
How to Open a Checking Account Online
Opening an online checking account is quick and straightforward. Typically, you’ll need to provide personal information, including your name, address, email, phone number, date of birth, and social security number (SSN). Joint accounts may also require details from a co-owner.
Some banks may ask for a copy of your ID. Once your account is set up, you’ll receive a debit card for easy access to funds through digital transactions.
Final Takeaway
A checking account with high liquidity and FDIC protection is an ideal option for daily financial needs. Before choosing an account, compare terms across different banks to find the best fit for your lifestyle. Ensure you’re aware of fees, benefits, and the accessibility features that matter most to you.
Frequently Asked Questions
Online checking accounts are convenient and often cost-effective, providing users with lower fees, mobile access, and faster transactions. Today, many banks offer online features like mobile apps and no monthly fees, making them an ideal choice for modern banking.
When comparing online checking accounts, examine fees, ATM access, customer service, and digital features. Make sure you choose an account that fits your financial habits and offers a hassle-free banking experience.
Online checking accounts offer features like quick fund transfers, easy deposits via mobile apps, bill pay options, and security features such as multi-factor authentication. Many accounts also include fee-free ATM access and competitive interest rates.
Having multiple checking accounts can be beneficial for different financial goals. For instance, one account might cover daily expenses, while another serves for joint household expenses or travel funds.
Many banks offer incentives for opening a new checking account, such as cash bonuses. Typically, you’ll need to maintain a minimum balance or complete a specific number of transactions to qualify for these bonuses.
