These Are the Top Checking Accounts of February 2024

Are you tired of your current checking account not meeting your needs? If so, you’re in the right place. We’ve gathered the best checking accounts of February 2024 for you. These accounts have been carefully selected based on their fee schedules, online and mobile features, minimums, interest rates, and more.

Discover Cashback Checking Account

First on our list is the Discover Cashback checking account. This account stands out because it allows you to earn cashback when using your debit card. With this account, you’ll receive 1% cash back on up to $3,000 in eligible debit card purchases every month. Plus, it offers access to over 60,000 fee-free ATMs nationwide.

This account is known for being largely fee-free. There is no minimum deposit requirement, no monthly maintenance fees, and no fees for insufficient funds. However, you may be charged a fee for using an out-of-network ATM.

Wealthfront Cash Account

Next, we have the Wealthfront Cash Account. This account offers a decent interest rate, with account holders having access to a restriction-less 5.00% APY right off the bat. There is just a $1 minimum to open an account, and you’ll encounter very few fees.

What sets this account apart is the whopping $8 million in FDIC insurance coverage it provides. Plus, you can sign up for a direct deposit and get your paycheck up to two days early.

Schwab High Yield Investor Checking® Account

The Schwab High Yield Investor Checking® account is a great choice for those interested in a solid APY and low fees. This account comes with a decent 0.45% APY and a nearly nonexistent fee schedule. Plus, all account holders receive a Schwab Bank Visa Platinum Debit Card and free checks.

If you’re a Schwab brokerage client, you can merge your new checking account with your Schwab One brokerage account. This allows you to transfer funds quickly and easily between the two accounts.

Capital One 360 Checking Account

The Capital One 360 Checking Account is a great overall choice. You’ll earn an APY of 0.10% on all balances, incur no monthly fees, and your first checkbook is free. Plus, this account grants you access to a large network of more than 70,000 fee-free ATMs.

Capital One has physical bank locations in eight states around the country, but it also has a full suite of online and mobile banking platforms. With limited fees, solid overdraft options, easy money transfers, and secure banking, this account is a great overall choice.

LendingClub Bank Rewards Checking

The LendingClub Bank Rewards Checking is a free checking account with decent APYs, especially if you have a high account balance. Balances of $2,500 to $100,000 will earn a 0.10% APY, and accounts with more than $100,000 will earn a 0.15% APY.

What’s unique about this account is that it allows you to earn both interest and cash back. LendingClub Bank gives its Rewards Checking account holders the ability to earn up to 1% unlimited cash back on qualifying purchases made with their LendingClub Bank debit card.

Axos Bank Rewards Checking Account

The Axos Bank Rewards Checking Account is one of the top-rated checking options based on our research. It offers great customer service and one of the highest-earning APYs on this list with up to 1.25%.

The account has no minimum balance requirement, nor are there any insufficient funds fees. When it comes to ATM withdrawals and deposits, Axos Bank affords all account holders unlimited reimbursements for all domestic ATM operator fees.

Ally Bank’s Spending Account

Ally Bank’s Spending Account features solid APYs, especially for a checking account. If your daily balance is less than $15,000, you’ll receive a 0.10% APY. For daily balances of $15,000 and up, that rate will jump to 0.25%. There are no monthly maintenance fees or minimums needed to hold this account.

Account holders also have access to over 43,000 Allpoint® ATMs across the U.S. In addition to this, Ally’s mobile app allows you to deposit checks remotely and transfer money in a variety of free and convenient ways.

Chime Checking Account

The Chime Checking Account is a really good option for those who prefer online banking. Account holders get a free debit card to help you get going right away at over 60,000 fee-free ATM locations. Plus, there are no monthly maintenance fees, which allows you to save additional cash in your pocket.

You don’t have to worry about a required minimum deposit with Chime. And if you are interested in overdraft protection with your Chime Checking Account, the bank offers a service with SpotMe. However, eligibility requirements do apply, and you may incur some fees.

Varo Bank Account

The Varo Bank Account is a great checking option for those who are looking to avoid excessive fees and minimums. The Varo Bank Account doesn’t require a minimum opening deposit to get started. You also don’t have to worry about monthly maintenance fees or foreign transaction fees.

The bank also provides no ATM fees at over 55,000 Allpoint ATMs associated with Varo. Other features associated with the Varo Bank Account include a robust overdraft protection service called Varo Advance, as well as free customer service assistance with mobile banking and online banking.

Aspiration Spend & Save Account

The Aspiration Spend & Save Account is a great option for those who are eco-conscious and are looking for a bank that is helping to divest from the fossil fuel industry. All you’ll need is $10 to get started with Aspiration. From then on, the account is mostly fee-free, so you won’t need to meet any minimums or pay any monthly fees.

With the Aspiration Spend & Save Account, users will have access to a complete online and mobile banking platform. You’ll have access to 55,000 fee-free ATMs and you can also get up to 3-5% cash back on certain socially and environmentally conscious purchases.

Navigating Your Finances

Choosing the right checking account is a crucial step in managing your finances effectively. The best checking accounts of February 2024 that we’ve highlighted in this post offer a range of features to suit different needs, from high APYs and cashback rewards to low fees and robust online and mobile platforms. So, take your time, consider your needs, and choose the account that’s best for you. Remember, the right checking account can be your key to financial freedom.