Best checking accounts of September 2023

While a savings account is an excellent place to park and grow your money, a checking account is ideal for everyday spending and bills. The best checking accounts offer low fees, flexible customer service, an extensive network of fee-free ATMs, and a modest APY (the best interest rates are around 1.5%). To help you find the best checking account for your needs, we’ve compiled a list of interest-bearing online checking accounts that offer low fees and easy access to your funds. 

Maryland-based CFG Bank offers multiple checking accounts, each with online banking, bill pay, and access to a network of 55,000 fee-free Allpoint ATMs using an ATM or debit card. Its Interest Checking Plus account offers APYs ranging from 1.25% with a $1,000 minimum balance up to 2.00% for balances of $50,000 and up. There’s a $50 minimum opening balance and zero monthly maintenance fees. However, some of the bank’s fees are on the high end, including $10 for cashier’s checks, $25 for overdrafts, $30 for stop-payment orders, and $45 for international wire transfers. 

Checking APY: Up to 2.00%
Minimum opening deposit: $50
Monthly fees: $0
Overdraft fees: $25
ATM network: 55,000, through the Allpoint network

The Everything checking account from nbkc bank (stylized in lowercase) is a free checking account that offers a 1.50% APY on all balances. There are no monthly service or overdraft fees and no minimum opening deposit. You can access your cash via ATM card, debit card, online transfers and bill pay, mobile deposit, and popular money-sending services like Venmo and Apply Pay. There’s a network of 37,000 fee-free ATMs (thanks to a MoneyPass partnership), and nbkc reimburses up to $12 per month for other ATMs. Some ATMs accept cash deposits — a nice perk that few banks offer.

Checking APY: 1.50%
Minimum opening deposit: $0
Monthly fees: $0
Overdraft fees: $0
ATM network: 37,000, through the MoneyPass network

TIAA changed its name to EverBank in late August 2023 after selling a majority share of TIAA Bank to private investors. The bank’s Yield Pledge Checking account offers a 0.25% APY across all balance tiers with no monthly fees and a $100 minimum opening deposit. The included Visa debit card has purchase benefits, such as extended warranty, price, and return protection. You’ll have access to over 80,000 fee-free ATMs in the Allpoint and MoneyPass networks. EverBank offers unlimited ATM fee reimbursements with a minimum balance of $5,000 or up to $15 per month at lower balances. 

Checking APY: 0.25%
Minimum opening deposit: $100
Monthly fees: $0
Overdraft fees: $0
ATM network: 80,000, through the Allpoint and MoneyPass networks

Quontic Bank’s High Interest Checking account earns up to 1.10% APY on all balance tiers when you make at least 10 monthly qualifying debit card transactions of $10 or more (the APY drops to 0.01% otherwise). Its Cash Rewards Checking account offers 1.00% cash back on all eligible debit card purchases. Both accounts have a $100 minimum opening deposit and zero monthly or overdraft fees. You’ll have access to 90,000+ fee-free ATMs in the Allpoint and MoneyPass networks, plus Citibank ATMs in retailers nationwide (many retailers and grocery stores also let you cash a check.)

Checking APY: Up to 1.10%
Minimum opening deposit: $100
Monthly fees: $0
Overdraft fees: $0
ATM network: 90,000, through the Allpoint, Citibank, and MoneyPass networks

The Ally Bank Spending Account earns 0.25% APY on balances of at least $15,000 and 0.10% APY on lower amounts. There are no monthly maintenance or overdraft fees, no incoming wire fees, and a $0 minimum deposit. Ally has a network of 43,000+ fee-free ATMs and reimburses up to $10 monthly for fees charged at other ATMs nationwide. You can create up to 30 spending buckets to set aside money for ongoing expenses, and early direct deposit means you get paid up to two days sooner. You can get a $200 bonus for a limited time when you open your first Spending Account and make $1,500 in qualified direct deposits within 90 days. 

Checking APY: Up to 0.25%
Minimum opening deposit: $0
Monthly fees: $0
Overdraft fees: $0
ATM network: 43,000

SoFi Checking and Savings’s high-yield checking account automatically comes with a savings account that earns up to 4.50% APY (the bank doesn’t offer stand-alone checking or savings accounts). You’ll earn 0.50% APY on your checking balances with direct deposit. There are no monthly fees or minimum balance requirements, and you get up to $50 in overdraft coverage for qualifying debit card purchases for free with at least $1,000 in monthly direct deposits. You’ll have access to 55,000+ fee-free Allpoint ATMs, and you can earn up to 15% cash back when you use your SoFi debit card at qualifying local businesses. The account also offers early direct deposit and a bonus of up to $250 when you set up direct deposit. 

Checking APY: Up to 0.50%
Minimum opening deposit: $0
Monthly fees: $0
Overdraft fees: Up to $50 in overdraft coverage
ATM network: 55,000 through the Allpoint network

Alliant Credit Union’s High-Rate Checking account earns 0.25% APY when you elect eStatements and make at least one monthly electronic deposit to your account. There are no monthly service fees (with eStatements), overdraft fees, or minimum balance requirements, and your first box of checks is free. Alliant has a network of 80,000+ fee-free ATMs and rebates up to $20 monthly for out-of-network ATM fees. The account comes with a Visa debit card that you can use for purchases and ATM withdrawals and deposits (not all ATMs accept deposits). You can join Alliant even if you aren’t eligible through another channel by becoming a member of the nonprofit Foster Care to Success.

Checking APY: Up to 0.25%
Minimum opening deposit: $0
Monthly fees: $0
Overdraft fees: $0
ATM network: 80,000

The Axos Bank CashBack Checking account pays 1.00% cash back on all transactions that require a signature. Its Rewards Checking account offers up to 3.30% APY, but you have to jump through several hoops to earn the full APY: You must receive monthly direct deposits totaling $1,500 or more, make at least 10 monthly debit card transactions, maintain $2,500 balances in Axos Managed Portfolio and Axos Invest Self Directed Trading accounts, and use the checking account to make your monthly Axos bank consumer loan payment. Both checking accounts have no monthly maintenance or overdraft fees and a $50 minimum opening deposit. Axos has about 91,000 fee-free ATMs nationwide and offers unlimited domestic ATM fee reimbursements. 

Checking APY: Up to 3.30%
Minimum opening deposit: $50
Monthly fees: $0
Overdraft fees: $0
ATM network: 91,000

Checking accounts provide easy access to your cash with unlimited deposits and withdrawals. You can write checks (and void them if necessary), withdraw cash through the bank or an ATM, make debit card purchases, send and receive wire transfers, accept direct deposits, and link to payment apps like Venmo and Zelle. High-yield checking accounts (usually offered by online banks and credit unions) have the same features as traditional checking accounts while offering higher-than-average APYs.

Of course, some checking accounts come with monthly maintenance fees, overdraft fees, and other charges that can take a bite out of your balance (some banks refund overdraft fees). The best banks and best online banks offer checking accounts with low or no fees, a wide ATM network, and at least a modest amount of interest. It pays to read the fine print when comparing checking accounts to know what to expect. 

There are three sets of numbers along the bottom edge of a check. The first set (on the left) is the bank’s nine-digit routing number, the second (in the middle) is the account number, and the third (on the right) is the check number. Account numbers vary in length but are usually between five and 17 digits. You can have multiple accounts at the same bank with various account numbers, but the routing number will be the same.

Some vendors accept checking account numbers as an alternative payment method. If a vendor has a “check” or “add a bank account” option at checkout, you can enter your name and address (and possibly your driver’s license number), your bank’s routing number, and your checking account number to make the purchase.  

When choosing a checking account, consider whether you prefer an online checking account or a traditional account at a local branch. Be sure to compare interest rates, fees, ATM networks, fund access, and any perks the accounts offer, such as free checks and out-of-network ATM fee rebates. 

Once you pick a bank, you’ll complete an application online or in person at a local branch. While the process varies, you’ll generally provide identification (e.g., a driver’s license, passport, or Social Security card) and proof of address, such as a mortgage document or utility bill. Once your account is approved, you’ll make an initial deposit via debit card, ACH transfer, or cash. 

Remember that a checking account is ideal for cash you plan to spend soon — like daily expenses and monthly bills. Money you won’t need right away can earn a much higher APY (and help you reach your goals sooner) in a high-yield savings account, money market account, or CD.   

Editorial Disclosure: All articles are prepared by editorial staff and contributors. Opinions expressed therein are solely those of the editorial team and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in this article is accurate as of the date of the publish. Check the lender’s website for the most current information.

This article was originally published on SFGate.com and reviewed by Lauren Williamson, who serves as Financial and Home Services Editor for the Hearst E-Commerce team. Email her at [email protected].