- Last updated January 2025
Best Checking Accounts Of January 2025
Compare the best checking accounts
✓ No monthly fees or overdraft fees
✓ Easy 24/7 mobile access
✓ Large ATM networks
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Why Should You Open A Checking Account?
There are many reasons why you should open a checking account. For one, it can help you budget your money by allowing you to track your spending and income. Additionally, a checking account has various features and benefits, such as online banking, mobile banking, and overdraft protection. Plus, having a checking account can make paying bills and managing your finances more manageable. If you're looking for a way to simplify your financial life, a checking account may be the right choice.
Choosing an account with no or low fees is important because you want to avoid paying unnecessary charges. You'll also want to find an account that offers features that fit your lifestyle. For example, if you travel often, you may want an account that doesn't charge foreign transaction fees on its debit card. Or, if you're always on the go, you may want an account with mobile banking capabilities.
Compare Top Checking Accounts
Top 5 Benefits Of A Checking Account
Get Paid Early: With a checking account, you can get paid early with a direct deposit. This means you can get your paycheck a few days earlier than you would without a bank account. This means you can access your funds sooner to pay bills or make purchases.
Easier Payments: Most checking accounts come with a debit card. You can use your checking account to pay for groceries, gas, or online purchases. You can also set up automatic payments for rent or mortgage. Some debit cards also give you additional money back on everyday purchases.
Quickly Transfer Funds: With a checking account, you can quickly and easily transfer funds to another person or account. This can be helpful if you need to pay someone back or send money to someone else, like friends or family.
Access Your Money Easily: With a checking account, you can access your money through an ATM or debit card. This means you can get cash when you need it or make purchases without carrying around a lot of cash.
Keep Your Money Safe: When you have a checking account, your money is kept in an FDIC-insured account. This means that your money is protected in the event of a bank failure. Generally, your funds will be protected up to $250,000.
Top Checking Account Options As Of January 15, 2025
Bank
Bonus
Free ATMs
$300
55,000+
N/A
60,000+
$500
91,000+
1. SoFi
SoFi Checking and Savings is a combination account that offers a high APY on savings balances, no monthly or overdraft fees, and convenient remote customer service options. The account is provided by SoFi Bank, an online-only financial institution, and features no minimum balance requirements and access to a large network of ATMs.
Pros
- Up to $2M in FDIC insurance
- $250 sign up bonus
- Earn up to 15% cash back at select locations
Cons
- No physical locations
- No 24/7 support
- Fees for cash deposits.
2. Discover
Discover's checking account, known as the Cashback Debit account, offers 1% cash back on up to $3,000 in monthly debit card purchases and comes with no fees, including no monthly, overdraft, or insufficient funds fees. Additionally, the account provides access to over 60,000 fee-free ATMs through the Allpoint and MoneyPass networks.
Pros
- 1% cash back on debit card purchases (Up to $3,000)
- 60,000+ surcharge-free ATMs
- No monthly maintenance fees, insufficient funds fees or overdraft fees
Cons
- No reimbursement for out-of-network ATM fees
- No physical branch access
3. Axos
Axos Bank offers various checking accounts, including the fee-free Essential Checking, interest-bearing Rewards Checking, and CashBack Checking. These accounts include no monthly maintenance fees, unlimited domestic ATM fee reimbursements, and no minimum balance requirements.
Pros
- 24/7 customer service by phone.
- Unlimited ATM fee rebates
- High checking account APY
Cons
- Requirements must be met to earn strong checking rate
- Other products (Savings & CDs) are not as competitive
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Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
