We Believe in Financial Well-Being.
We believe everyone should have free access to information in order to make smarter financial decisions. Although our site doesn’t showcase every company or financial product available in the market today, we're confident in our recommendations, many of which are from our advertising partners, to help guide you on your financial journey. Free of charge for you.
Instead of charging you money, we're compensated by our partners and third-party advertisers. This compensation, along with our proprietary algorithms, may, at times, influence the products we decide to review, discuss, and their position on our site or the order in which they appear.
This article and the comparison table are not personal financial advice. While we provide information resources and educational pieces, the content here is not a substitute for personal financial guidance from a registered financial advisor.
Best Checking Accounts for Bonuses & Cash Back
By: Conor Keenan Last updated on October 2, 2024
Conor Keenan, co-founder of CompareAccounts.com, is a notable personal finance expert, with work seen in The Wall Street Journal, CNN, Fox News, MSN and Yahoo Finance.
Editorial Independence: Our opinions, reviews, and recommendations are our own and not influenced by financial institutions or partners. Partner commissions keep our site free, but our content remains independent and is not commissioned by any partner or financial institution.
- Checking Account
- No. Fees. Period.
- No Monthly Fee
- No Insufficient Funds Fee
- Fee-Free Overdraft Protection
- Set Up Direct Deposit & Access Funds up to 2 Days Sooner with Early Pay
- Access 60,000+ Fee-Free ATMs
- Send Money with Zelle®
- Debit Card Cashback – Earn 1% Cash Back on up to $3,000 in Debit Card Purchases Each Month
- See Site for Details
On Discover Bank's Secure Site,
Member FDIC
$300 Bonus
- Checking Account
- No Monthly Maintenance Fee
- Min. Opening Deposit: $10
- Send Money with Zelle®
- KeyBank Enhanced Debit Mastercard® Offers Security & Convenience
- Deposit Checks in The Mobile App
- 24-hour access to 40,000+ KeyBank & AllPoint® ATMs Nationwide
- Earn a $300 Cash Bonus: Make the Minimum Opening Deposit of $10, Plus One Eligible Direct Deposit of at Least $1,000 within the First 60 Days of Account Opening
- To be Bonus Eligible, You Must Open Your Account by December 13, 2024
- Overdraft Protection Services Available
- Accounts are Subject to Approval
- Terms & Conditions Apply
- See Site for Details & Other Offers
On KeyBank's Secure Site,
Member FDIC
Up to $350 Bonus
- Checking Account
- No Monthly Maintenance Fee
- Send Money with Zelle®
- Overdraft Protection Services Available
- 40,000+ Fee-Free ATMs Nationwide
- BMO Debit Mastercard® Offers Security & Convenience with Excellent Benefits
- Earn a $250 Cash Bonus*
- To be bonus* eligible, you must open your account & complete qualifying activites between 9/10/24 -10/31/24
- Plus, get a $100 digital gift card when you meet with a BMO banker after opening your account online
- Accounts are Subject to Approval and are Available in the U.S. BMO Bank N.A., Member FDIC
- *Conditions apply
- See Site for Details & Other Offers
On BMO's Secure Site,
Member FDIC
- Checking Account
- Earn up 2% Cash Back on Common Everyday Purchases
- 1% on All Other Purchases
- Earn These Rewarding Cash Back Rates with Recurring Direct Deposits of $1,000+ per Month
- No Monthly Fee
- No Overdraft Fees
- Access to Fee-Free Withdrawals at 55,000+ Allpoint ATMs Nationwide
- Allpoint ATMs are conveniently located in retail locations like Walgreens®, CVS Pharmacy®, Target® & more.
- Set Up a Recurring Direct Deposit & Get Paid Up to 2 Days Early
- U.S. Based Customer Service
- Terms & Conditions Applyⓘ
- See Site for Details
On Upgrade's Secure Site,
FDIC Insured
- Checking Account
- Min. Opening Deposit: $25
- Monthly Fee: $25 - Waived with Minimum Monthly Balance of $20,000
- Overdraft Fee: $35 per item, up to 3 Fees per Day
- International Transaction Fee: 3%
- 1 ATM Fee Reimbursements per period
- Discount on Safety Deposit Box Rental
- If You Want to Avoid Overdraft Fees, We Recommend a Different Checking Account
Not Recommended
Not Recommended. Shown For Comparison Purposes Only.
Up to $600 Bonus
- Checking Account
- Monthly Fee: $25
- Up to $25 Surcharge Fee Rebates on Non-BMO ATMs per Statement Period
- Lending Rate Discounts Available
- 40,000+ Fee-Free ATMs Nationwide
- Send Money with Zelle®
- BMO Debit Mastercard® Offers Security & Convenience with Excellent Benefits
- Earn a $500 Cash Bonus*
- To be bonus* eligible, you must open your account & complete qualifying activites between 9/10/24 -10/31/24
- Plus, get a $100 digital gift card when you meet with a BMO banker after opening your account online
- Accounts are Subject to Approval and are Available in the U.S. BMO Bank N.A., Member FDIC
- *Conditions apply
- See Site for Details & Other Offers
On BMO's Secure Site,
Member FDIC
- Checking Account
- Out of Network ATM Fee: $2.50 in US
- Monthly Fee: $12 - Waived with Qualifying Activities
- Overdraft Fee: $10 per item
- International Transaction Fee: 3%
- Check Image Service Fee: $3 per Statement
- No ATM Fee Reimbursements
- Option to Pay for Paper Checks
- If You're Not Careful, This Checking Account's Fees Cost You More Than Its Worth
Not Recommended
Not Recommended. Shown For Comparison Purposes Only.
To recap our recommendations.
Best Checking Accounts According To CompareAccounts™
Discover® Bank Cashback Debit: Best for Online Banking Experience + Customer Service
Key Smart Checking® Account: Best For: Mobile Banking + Bonus
BMO Smart Advantage Checking Account: Best For: No Monthly Maintenance Fee + Bonus*
Upgrade Rewards Checking Plus Account: Best For Direct Deposit + Debit Card Cash Back Rates
BMO Relationship Checking Account Best For: Banking Benefits + Bonus*
On Discover Bank's Secure Site,
Member FDIC
Best For: Online Banking Experience + Customer Service
Earn 1% cash back on up to $3,000 in debit card purchases monthly, all while protecting your money with comprehensive tools and features to prevent fraud, like the ability to freeze your debit card.
Discover Bank is one of the first online focused banks to offer no monthly fees and what they call "No. Fees. Period." That means you won’t pay a monthly fee, regardless of your monthly balance. You’ll enjoy fee-free overdraft protection, and you won’t pay a fee for insuffiecient funds.
Pair your free debit card with digital wallets like Apple Pay® to enjoy seemless transactions and gain access to over 60,000 fee-free ATMs nationwide.
Experience mobile-first banking with the Discover App, make quick transfers using Zelle®, find a nearby ATM, deposit checks and much more, all from your phone.
Best of all, your deposits are FDIC-insured up to $250,000 per depositor for peace of mind. And remember, Discover has US-based customer service available 24/7.
See Discover Bank's Secure Site For More Details.
$300 Bonus
On KeyBank's Secure Site,
Member FDIC
Best For: Mobile Banking + Bonus
This account offers no monthly maintenance fee, available overdraft protection services & access to 40,000+ fee-free ATMs nationwide.
Additionally, this account offers relationship benefits like better interest rates on savings and money market accounts, more cash back, loan discounts and more.
Early Pay lets you get paid up to two days early with eligible direct deposits to a KeyBank account.
With secure online & mobile banking you can deposit checks in the mobile app, pay bills, send money, lock/unlock cards and more.
The KeyBank Enhanced Debit Mastercard® offers chip security, Tap & Go technology and all benefits of Mastercard.
Easy direct deposit set up can have your paychecks or other recurring payments automatically deposited to your Key account quickly and securely.
Accounts are subject to approval. Terms and conditions apply.
Overall, this is an excellent account from a respected bank with over $187 Billion in assets.
See KeyBank's Secure Site For More Details & Other Offers.
Up to $350 Bonus
On BMO's Secure Site,
Member FDIC
Best For: No Monthly Maintenance Fee + Bonus*
New BMO Smart Advantage Checking customers can earn a $250 Cash Bonus* when you open a new checking account and complete qualifying activities between 9/10/24 and 10/31/24.
Plus, get a $100 digital gift card when you meet with a BMO banker to discuss your financial priorities after opening your account online.
This account offers no monthly maintenance fee, available overdraft protection services & access to 40,000+ fee-free ATMs nationwide.
You can easily transfer money using Zelle®, locate a nearby ATM, deposit checks & more with the BMO Digital Banking app.
The BMO Debit Mastercard® offers security & convenience with benefits like satisfaction guarantee, Mastercard Global Service® & more.
Open your account today and set up direct deposit to help you unlock this bonus.
*Conditions apply. Accounts are subject to approval and available in the U.S. BMO Bank N.A., Member FDIC.
See BMO Bank's Secure Site For More Details & Other Offers.
High Cash Back Rates
On Upgrade's Secure Site,
FDIC Insured
Best For: Direct Deposit + Debit Card Cash Back Rates
Upgrade was built from the ground up to deliver an excellent digital customer experience, evident in their top rated mobile app.
Upgrade currently offers up to 2% Cash Back on their Upgrade Visa® Debit Card for common everyday purchases and 1% cash back on everything else, with a current maximum of $500 in rewards per calendar year. Gain access to these rewarding cash back rates with recurring monthly direct deposits of $1,000+.
They offer this incredible debit card & checking account with no monthly fees, and no over draft fees.
You can even get paid up to 2 days early with a recurring direct deposit.
Access to fee-free withdrawals at 55,000+ Allpoint ATMs nationwide. Allpoint ATMs are conveniently located in retail locations like Walgreens®, CVS Pharmacy®, Target® & more.
Upgrade is an innovative financial technology company, not a bank. Rewards checking plus accounts are provided by Cross River Bank, Member FDIC and serviced by Upgrade.
U.S. based customer service is available daily via phone or email. You can open a premier savings account with Upgrade in as little as 5 minutes to complete the sign-up process.
Deposits are insured through the FDIC for up to $250,000 per depositor and interest compounds daily. Terms & conditions applyⓘ.
See Upgrade's Secure Site For More Details.
Up to $600 Bonus
On BMO's Secure Site,
Member FDIC
Best For: Banking Benefits + Bonus*
New BMO Relationship Checking customers can earn a $500 Cash Bonus* when you open a new checking account and complete qualifying activities between 9/10/24 and 10/31/24.
Plus, get a $100 digital gift card when you meet with a BMO banker to discuss your financial priorities after opening your account online.
This account comes with a $25 monthly maintenance fee, but it can be waived with qualifying activites. To help offset this fee, this account offers up to $25 surcharge fee rebates on Non-BMO ATMs per statement period, no incoming wire fees & no annual fee for a 3”x 5” safe deposit box.
One of the benefits customers receive from this account are additional deposit account benefits as part of the Relationship Package.
You can easily transfer money using Zelle®, locate a nearby ATM, deposit checks & more with the BMO Digital Banking app.
The BMO Debit Mastercard® offers security & convenience with benefits like satisfaction guarantee, Mastercard Global Service® & more.
Open your account today & set up direct deposit to help you unlock this bonus.
*Conditions apply. Accounts are subject to approval and are available in the U.S. BMO Bank N.A., Member FDIC.
See BMO Bank's Secure Site For More Details and Other Offers.
Customers Also Viewed These High Yield Savings Accounts:
4.10% APY
On Discover's Secure Site,
Member FDIC
Best For: Online Banking Experience + No Fees
Discover offers 4.10% APY with no monthly fees and $0 initial deposit.
Discover is one of the first online focused banks to offer no monthly fees and what they call "No. Fees. Period."
Whereas other banks may charge you a fee for certain services, Discover won't charge you a fee on any of the following items: monthly maintenance, official bank check, expedited delivery for official bank checks, deposited item returned, stop payment order, insufficient funds, or for closing your account.
If you're looking for a competitive APY with "No. Fees. Period." this account is for you.
See Discover's Secure Site For More Details.
What to Look for in a Checking Account
It’s always wise to compare your options when opening a new checking account.
Here are the top features to look for and compare:
1. Ease of Setting Up
Your checking account should be where you setup your direct deposit and where you pay bills from. Because of this, it needs to be easy to open an account, set up your direct deposit, and set up payees to pay bills.
All of the checking accounts we recommend have these features.
2. Monthly Fees
Monthly fees can eat into your paycheck fast. You should avoid them as much as possible. That’s why we recommend you focus on no monthly fee checking accounts to keep as much as your pay check as possible.
3. Required Initial Deposit
Does the bank require a large initial deposit? Are you comfortable depositing that much right away? These days, most banks will allow you to open an account with as little as $1 or even $0 dollars.
Some banks may offer a higher yield with a higher initial deposit. You’ll just need to decide whether that higher initial deposit will be worth any increase in yield.
4. Minimum Balance Required
Minimum balance required to maintain your account is another feature to keep a close eye on.
Most of the banks we recommend do not have large minimum balance requirements, if any minimum balance requirement at all.
The accounts we do recommend that have a higher minimum required balance are usually CD accounts, which you don’t want to open unless you want to lock up your money for 6 months, 12 months or longer.
5. Accessing Your Money
Accessing your money is very important with any checking account.
Almost all of the checking accounts we recommend come with a mobile app that gives you 24/7 access to your accounts.
Additionally, banks will issue a debit card for your checking account, that you can use physically, virtually, or contactless payments through your wallet app.
6. Transferring Your Money
As important as it is to access your accounts, you’ll likely need to transfer money in and out of your checking account often.
That’s why its important to pay attention to features like transfer or peer to peer payments with Zelle®.
7. Mobile Check Deposit
If you can’t set up direct deposit, or if sometimes you get paper checks having mobile check deposit will allow you to deposit checks into your account from anywhere.
Most checking accounts we recommend comes with mobile check deposit.
8. Overdraft Fees
Things happen. Sometimes we pay a bill or make a purchase that is more than the money in our accounts. Normally, this would incur an overdraft fee, usually these fees range betwen $25 – $50.
Most of the checking accounts we recommend do not have overdraft fees, because the last thing you need when you don’t have enough money in your account is another fee to pay.
With the above in mind, now you’re more confident to choose the right checking account for you.