Our Rating Methodology

We’ve analyzed over sixty bank accounts emanating from a diverse array of financial institutions, including traditional banks, online banking platforms, fintech companies, and credit unions.

Each account featured in our recommendations, many of which are from our partners, is accessible to consumers within the United States, contingent upon the specific terms associated with each account.

Our evaluation framework encompasses several critical dimensions:

1. Offer: This pivotal category primarily assesses the Annual Percentage Yield (APY) for savings accounts and Certificates of Deposit (CDs), alongside bonus or cash-back rates for checking accounts. Generally, offers with higher APYs, bonuses, or cash-back rates are deemed more favorable.

2. Monthly Fees: Recognizing the universal disdain for fees, our analysis places significant emphasis on the presence or absence of monthly maintenance fees. Financial institutions that either do not levy these fees or provide straightforward avenues to waive them receive more favorable evaluations.

3. Brand: The prestige and historical standing of a financial institution play a vital role in our ranking process. Entities with a longstanding, positive reputation, particularly those that are publicly traded and thus subject to heightened regulatory oversight and shareholder accountability, are ranked more highly.

4. Minimum Opening Deposit: Our ranking methodology also considers the initial deposit required to open an account. Accounts that demand lower minimum deposits are rated more favorably, reflecting their greater accessibility.

5. Customer Support: Efficient and responsive customer support is crucial. We accord higher rankings to institutions that demonstrate a robust commitment to customer service, ensuring that clients receive timely and effective support when needed.

6. Security Features: The safety of your financial assets and personal information is paramount. Our analysis evaluates the security protocols employed by financial institutions, including HTTPS security standards and comprehensive cybersecurity practices, to safeguard client data.

It is important to note that the rates, fees, benefits, and minimum deposit requirements, along with all other features of the accounts mentioned, are subject to various limitations. APYs and other promotional offers may vary over time, potentially affecting the overall attractiveness of these options.

Furthermore, every bank account and credit union mentioned in our evaluations is insured either by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Association (NCUA), providing an added layer of security for your financial assets.