Best Checking Accounts for Online Banking
By: Conor Keenan, AWMA® | Updated: July 29, 2026
CompareAccounts co-founder and Accredited Wealth Management Advisor® designee with 10+ years covering banking and investing. His work has appeared in The Wall Street Journal, Reuters, and Yahoo Finance.
Editorial Independence: Opinions, recommendations, and reviews are our own. Partner commissions help keep our site free. They do not influence our editorial content.
Up to $400 Bonus
- Checking & Savings Account
- No Monthly Fees
- No Overdraft Fees
- Fee-Free Overdraft Coverage Available
- Bonus: up to $400 with Direct Depositⓘ
- Set Up Direct Deposit & Access Funds up to 2 Days Sooner with Early Pay
- Access 55,000+ Fee-Free ATMs within the Allpoint® Network
- Send Money with SoFi's Peer-to-Peer Payment System
- Earn 0.50% Annual Percentage Yield (APY) on Checking Balances
- Earn $50 or $400 with direct deposit, terms apply.
- Limited Time Offer: New account holders earn +0.70% boost to 3.80% on their Savings APY for up to 6 months with eligible direct deposit. Terms applyⓘ
- See Site for Details
1. Up to $400 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct
Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible
Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have
satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct
Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees
may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
8. 0.70% Savings APY Boost
Earn up to 3.80% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.10% APY) for up to 6 months. Open a new SoFi Checking & Savings account with
Eligible Direct Deposit by 12/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
On SoFi's Secure Site,
Member FDIC
Compare With
- 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.
Direct Deposit Benefits
- Chime® Checking Account
- Chime Visa® Debit Card
- No Monthly Fees
- No Overdraft Fees
- 24/7 Live Support with a Real Human
- Access to over 47,000 fee-free ATMs at locations like Target, Walgreens®, 7-Eleven® & more
- Some Direct Deposit Benefits Include:
- MyPay®1: Get up to $5002 of your pay before payday. Note: Only offered in select states.
- Early Pay Access: Get your paycheck up to 2 days earlier with direct deposit
- SpotMe®: Eligible members can access up to $200 in fee-free SpotMe coverage when using their Chime Visa® Debit Card. Eligibility requirements and limits apply.
- Terms & Conditions Apply to The Features of this Accountⓘ
- See Site for Details
Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC.
SpotMe Disclosure: SpotMe® on Debit is an optional service that provides fee-free overdraft if a member meets certain qualification criteria. Chime SpotMe enables members to draw their Chime Checking Account negative for debit card transactions, ATM withdrawals, cash back transactions or “over the counter” or OTC withdrawals (“Qualifying Transactions”) up to a specified amount (the “Limit”). This Limit is determined by Chime in its sole discretion based on the history of any Chime-branded accounts you have, direct deposit history and direct deposit amounts, spending activity and other risk-based factors. SpotMe on Debit is not a credit product, cash advance, a loan, or overdraft protection. Comparing SpotMe to any of these other products is not accurate and would diminish integrity of the product's structure.
SpotMe® on Credit is an optional, no interest / no fee overdraft line of credit tied to the Secured Deposit Account available to qualifying members with an active Chime Card Account. To qualify for the SpotMe on Chime Card service, you must receive $200 or more in qualifying direct deposits to your Chime® Checking Account each month and have activated your physical secured Chime Visa® Credit Card or Chime Visa® Debit Card.
Qualifying members will be allowed to overdraw their Secured Deposit Account up to $20, but may later be eligible for a higher limit of up to $200 or more based on Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Chime Card Limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s or its banking partners’ discretion. Although Chime does not charge any overdraft fees for SpotMe on Chime Card, there may be out-of-network or third-party fees associated with ATM transactions and fees associated with OTC cash withdrawals. SpotMe on Chime Card won’t cover non-card transactions. SpotMe on Chime Card Terms and Conditions apply.
Chime ATM Disclosure: Out-of-network ATM withdrawal and over the counter advance fees may apply except at FCTI® ATMs in a 7-Eleven® or Speedway, or any Allpoint® or Visa® Plus Alliance ATM participating in the Allpoint network.
Fee-Free Banking Disclosure: Optional services and products may have fees or charges, such as outbound instant transfers, out-of-network transactions, and credit products. Learn more here.
Chime Early Pay Disclosure: Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
Chime MyPay® Disclosure: MyPay® line of credit provided by The Bancorp Bank, N.A. or Stride Bank, N.A. MyPay services provided by Chime Capital, LLC (NMLS 2316451).
To be eligible for MyPay, you must receive qualifying direct deposits to your Chime Checking Account as set forth in the MyPay Agreement. A qualifying direct deposit is a deposit from an employer, payroll provider, gig economy payer, government benefits payer, or other permitted source of income by Automated Clearing House (“ACH”) or Original Credit Transaction (“OCT”). Your MyPay Credit Limit and Maximum Available Advance may change at any time. MyPay is a line of credit and available limits are based on estimated income and risk-based criteria. Eligible members may be offered a $20 - $500 Credit Limit per pay period. Your Credit Limit and Maximum Available Advance will be displayed to you within the Chime app. MyPay is only offered in select states and is currently only available to eligible Chime members in certain states. Other restrictions may apply. See Bancorp MyPay Agreement or Stride MyPay Agreement for details.
MyPay®: MyPay is a line of credit that allows members to get up to $500 of their pay anytime before payday with no interest, no credit check, and no mandatory fees. Most members’ credit limits start between $50 and $100, and can increase over time up to $500 depending on factors such as length and amount of your direct deposit activity. Members can get funds for free within 24 hours, or instantly for a fee of 3% of the advance amount ($2 minimum, $5 maximum) per advance. See Bancorp MyPay Agreement or Stride MyPay Agreement for details. MyPay is not an earned wage access product.
State Eligibility: You must live in one of the following states or the District of Columbia (Washington, D.C.) to be eligible for MyPay: Alabama, Alaska, Arizona, Arkansas, California, Delaware, District of Columbia (Washington, D.C.), Georgia, Florida, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, and West Virginia. Please see the MyPay Agreement for the most up-to-date state eligibility.
Optional services and products may have fees or charges, such as outbound instant transfers, out-of-network transactions, and credit products.
On Chime's Secure Site,
FDIC Insured
To recap our recommendations.
Best Checking Accounts According To CompareAccounts™
SoFi® Checking and Savings: Best For: Bonus + Annual Percentage Yield
Chime® Online Checking Account Details: Best For: Direct Deposit Benefits
Up to $400 Bonus
On SoFi's Secure Site,
Member FDIC
Best For: Bonus + Annual Percentage Yield
SoFi redefines banking with a commitment to no fees—no monthly fees, no overdraft fees, and no account minimums.
Bonus: up to $400 with direct deposit.ⓘ
In addition to the bonus, you'll enjoy a limited time offer: New account holders earn +0.70% boost to 3.80% on their Savings APY for up to 6 months with eligible direct deposit and 0.50% APY on checking balances, fee-free overdraft coverage up to $50 and access your direct deposit funds up to two days early, giving you greater financial flexibility. Terms apply.ⓘ
Withdraw cash without fees using your SoFi Debit Mastercard® from a network of 55,000+ ATMs, and make transactions seamless with SoFi’s intuitive, mobile-first banking. Use the app to transfer money, pay bills, deposit checks, or track your savings—all at your fingertips.
Your deposits are FDIC-insured up to $250,000 per depositor, ensuring your money stays safe and secure. Earn a $50 or $400 bonus with direct deposit, terms apply.
1. Up to $400 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct
Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible
Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have
satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct
Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees
may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
8. 0.70% Savings APY Boost
Earn up to 3.80% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.10% APY) for up to 6 months. Open a new SoFi Checking & Savings account with
Eligible Direct Deposit by 12/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Direct Deposit Benefits
On Chime's Secure Site,
FDIC Insured
Best For: Direct Deposit Benefits
The Chime® Online Checking Account is designed to maximize the benefits of direct deposit and empower your financial journey.
- Early Pay Access: Set up direct deposit with Chime and receive your paycheck up to two days earlier, giving you quicker access to your hard-earned money.
- SpotMe® Fee-Free Coverage: Eligible members can access up to $200 in fee-free SpotMe coverage when using their Chime Visa® Debit Card. Eligibility requirements and limits apply.
- MyPay® Access1: Enjoy financial flexibility with MyPay®, enabling you to access up to $5002 of your pay before the scheduled payday. Note: Only offered in select states.
- Extensive Fee-Free ATM Network: Access over 47,000 fee-free ATMs at locations like Target, Walgreens®, 7-Eleven®, and more.
- Fee Free Banking: Enjoy banking with no monthly maintenance fees, no minimum balance requirements, and no overdraft fees, allowing you to keep more of your money.
Customer service is available offering 24/7 live support with a real human.
Open your account for free in 2 minutes or less. Terms & conditions apply to the features of this account.ⓘ
See Chime's Secure Site For More Details.
Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC.
SpotMe Disclosure: SpotMe® on Debit is an optional service that provides fee-free overdraft if a member meets certain qualification criteria. Chime SpotMe enables members to draw their Chime Checking Account negative for debit card transactions, ATM withdrawals, cash back transactions or “over the counter” or OTC withdrawals (“Qualifying Transactions”) up to a specified amount (the “Limit”). This Limit is determined by Chime in its sole discretion based on the history of any Chime-branded accounts you have, direct deposit history and direct deposit amounts, spending activity and other risk-based factors. SpotMe on Debit is not a credit product, cash advance, a loan, or overdraft protection. Comparing SpotMe to any of these other products is not accurate and would diminish integrity of the product's structure.
SpotMe® on Credit is an optional, no interest / no fee overdraft line of credit tied to the Secured Deposit Account available to qualifying members with an active Chime Card Account. To qualify for the SpotMe on Chime Card service, you must receive $200 or more in qualifying direct deposits to your Chime® Checking Account each month and have activated your physical secured Chime Visa® Credit Card or Chime Visa® Debit Card.
Qualifying members will be allowed to overdraw their Secured Deposit Account up to $20, but may later be eligible for a higher limit of up to $200 or more based on Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Chime Card Limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s or its banking partners’ discretion. Although Chime does not charge any overdraft fees for SpotMe on Chime Card, there may be out-of-network or third-party fees associated with ATM transactions and fees associated with OTC cash withdrawals. SpotMe on Chime Card won’t cover non-card transactions. SpotMe on Chime Card Terms and Conditions apply.
Chime ATM Disclosure: Out-of-network ATM withdrawal and over the counter advance fees may apply except at FCTI® ATMs in a 7-Eleven® or Speedway, or any Allpoint® or Visa® Plus Alliance ATM participating in the Allpoint network.
Fee-Free Banking Disclosure: Optional services and products may have fees or charges, such as outbound instant transfers, out-of-network transactions, and credit products. Learn more here.
Chime Early Pay Disclosure: Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
Chime MyPay® Disclosure: MyPay® line of credit provided by The Bancorp Bank, N.A. or Stride Bank, N.A. MyPay services provided by Chime Capital, LLC (NMLS 2316451).
To be eligible for MyPay, you must receive qualifying direct deposits to your Chime Checking Account as set forth in the MyPay Agreement. A qualifying direct deposit is a deposit from an employer, payroll provider, gig economy payer, government benefits payer, or other permitted source of income by Automated Clearing House (“ACH”) or Original Credit Transaction (“OCT”). Your MyPay Credit Limit and Maximum Available Advance may change at any time. MyPay is a line of credit and available limits are based on estimated income and risk-based criteria. Eligible members may be offered a $20 - $500 Credit Limit per pay period. Your Credit Limit and Maximum Available Advance will be displayed to you within the Chime app. MyPay is only offered in select states and is currently only available to eligible Chime members in certain states. Other restrictions may apply. See Bancorp MyPay Agreement or Stride MyPay Agreement for details.
MyPay®: MyPay is a line of credit that allows members to get up to $500 of their pay anytime before payday with no interest, no credit check, and no mandatory fees. Most members’ credit limits start between $50 and $100, and can increase over time up to $500 depending on factors such as length and amount of your direct deposit activity. Members can get funds for free within 24 hours, or instantly for a fee of 3% of the advance amount ($2 minimum, $5 maximum) per advance. See Bancorp MyPay Agreement or Stride MyPay Agreement for details. MyPay is not an earned wage access product.
State Eligibility: You must live in one of the following states or the District of Columbia (Washington, D.C.) to be eligible for MyPay: Alabama, Alaska, Arizona, Arkansas, California, Delaware, District of Columbia (Washington, D.C.), Georgia, Florida, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, and West Virginia. Please see the MyPay Agreement for the most up-to-date state eligibility.
Optional services and products may have fees or charges, such as outbound instant transfers, out-of-network transactions, and credit products.
Customers Also Viewed These High Yield Savings Accounts:
Top choice for bonus + APY
Bonus: up to $400 with Direct Deposit①
Limited Time Offer: +0.70% Boost to 3.80% APY
for up to 6 Months on New Accounts with Eligible Direct Deposit.
Up to $400 Bonus
Annual Percentage Yield (APY)
3.80% APY
with qualifying activities
On SoFi®'s Secure Site,
Member FDIC
Best For: Bonus Seekers + Large Deposits
SoFi redefines banking with a commitment to no fees—no monthly fees, no overdraft fees, and no account minimums.
Bonus: up to $400 with direct deposit.ⓘ
In addition to the bonus, you'll enjoy up to 3.80% annual percentage yield (APY) on savings balances with qualifying activities and 0.50% APY on checking balances, fee-free overdraft coverage up to $50 and access your direct deposit funds up to two days early, giving you greater financial flexibility. Terms applyⓘ.
The current savings APY without direct deposit or $5,000+ in qualifying deposits during the 31-day evaluation period is 1.00%. Although this is still higher than the national average, if you don't plan on setting up direct deposit or depositing $5,000+, you should look at the other offers on this list.
Your deposits are FDIC-insured up to $250,000 per depositor and you can also access up to $3,000,000 of additional FDIC insurance through a network of participating banks. Ensuring your money stays safe and secure. Earn a $50 or $400 bonus with direct deposit, terms apply.
Limited Time Offer: New account holders earn +0.70% boost to 3.80% on their Savings APY for up to 6 months with eligible direct deposit. Terms apply.
1. Up to $400 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct
Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible
Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have
satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct
Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees
may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
8. 0.70% Savings APY Boost
Earn up to 3.80% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.10% APY) for up to 6 months. Open a new SoFi Checking & Savings account with
Eligible Direct Deposit by 12/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
3.30% APY
On Synchrony Bank's
Secure Site, Member FDIC
Best For: High APY From a Fortune 500 Bank
Synchrony Bank is offering a 3.30% APY (annual percentage yield) on its High Yield Savings Account, that’s many times the national average. The account has no minimum deposit, no minimum balance, and no direct deposit requirements, so you can start earning more without jumping through major hoops.
Synchrony is a strong fit if you want more ways to access your money. Unlike other accounts on this list, Synchrony offers an optional ATM card and reimburses up to $5 per month in out-of-network ATM fees.
It may not always have the highest APY on the list, but it stands out if occasional cash access matters to you. That makes it worth considering for an emergency fund, short-term savings goal, or cash you want to keep liquid while still earning a competitive rate.
Synchrony also makes managing your account easy: their mobile app gives you 24/7 access to your balance and transactions. Interest compounds daily, posts monthly and with FDIC insurance up to $250,000 per depositor, you’ll have peace of mind while your savings grow. Terms Applyⓘ
Founded in 2003, Synchrony is a Fortune 500 company and one of the largest consumer banks in the U.S., serving millions of customers nationwide.
See Synchrony Bank's Secure Site For More Details.
Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.
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.