Best Checking Accounts of May 2025

A good checking account should do more than just keep your money safe. It should also make your life easier, with features like ATM access and early direct deposit, and sometimes even help you grow your money by earning interest or rewards. Checking accounts with all of these perks are hard to come by, but we've reviewed options with popular banks and banking platforms to find the accounts that offer the most everyday value and benefits.

SoFi®, Discover, Chime, and Chase are just a few of our picks for the best checking accounts. Learn more about each of these, plus a handful of other great options.

How we evaluate products

Companies on this list were evaluated according to a set of criteria.

We looked at the following:

• FDIC insurance or NCUA insurance: To make our list, a checking account must be FDIC insured or National Credit Union Administration (NCUA) insured in the case of credit unions.
• Account minimums: All listed accounts have no minimum balance requirement or average daily balance requirement to remain open without incurring fees (though some do have minimum balances in order to earn APY). Some also have no minimum deposit required to open.
• Fees: A variety of bank account fees were considered in our assessment. Fees evaluated include monthly maintenance, ATM, minimum balance, foreign transaction, and overdraft fees.
• Account features: Checking accounts were evaluated on the availability of certain features such as paper checks, online bill pay, mobile deposits, rewards on spending, and whether the account is interest bearing.

Best checking accounts of May 2025 compared

Checking Account	Best for	APY
SoFi®	Combined online checking and savings	Up to 3.80% with direct deposit10 <p>SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p>
Discover® Bank	Cash back	N/A
Chime	Minimal-fee checking	N/A
Chase Checking Accounts	Young people	0.01% (as of 04/04/25) on Chase Premier Plus Checking 0.01% (as of 03/21/25) on Chase Private Client Checking 0.01% (as of 04/04/25) on Chase Sapphire Checking
Axos Rewards Checking	Earning interest	Up to 0.10% (as of 05/02/25) on Axos Golden Checking Up to 1.00% (as of 05/02/25) on Axos Cashback Checking Up to 3.30% on Axos Rewards Checking

SoFi®

We'll always go to bat for this account from SoFi® as one of the best checking options, even if it isn't strictly a checking account. In fact, this is why we prefer it over other choices — it's a combined checking and savings account that rewards you for everything from your everyday earnings or rainy day fund. The account earns up to 3.80% on your savings balance with direct deposit and up to 0.50% (as of 01/24/25) on checking with direct deposit. You'll earn 1.00% (as of 01/24/25) on your savings balance if you don't have direct deposit set up.¹⁰ <p>SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> .

You don't have to stress about overdraft or monthly maintenance fees with SoFi Checking and Savings.² <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p> If you open this account, I recommend taking advantage of its overdraft coverage. If your account becomes overdrawn, SoFi will automatically pull from your savings to cover the charge.¹¹ <p>Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A.&nbsp; The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the "30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking &gt; Savings &gt; Current APY or (ii) Banking &gt; Checking &gt; Current APY.&nbsp; Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.</p> This joint account is also great for quickly transferring funds when you want to save more or need to tap into your savings.

Member FDIC ⁴ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">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.&nbsp;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&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

Visit SoFi Checking and Savings | Read our SoFi® review.

Discover® Bank

I have to say, there aren't many checking accounts that offer cash back on your spending. If you like the idea of earning money back on your debit transactions, you may want the Discover® Cashback Checking account.

It offers an impressive 1% cash back on up to $3,000 in qualifying debit card transactions each month. This is in addition to standard checking features such as no minimum balance requirements and early access to paychecks. It also has an extensive ATM network and a fee-free overdraft protection service.

One drawback to Discover Bank's checking account is that you can only make cash deposits at Walmart. You can make electronic deposits by transferring money from another institution, however. Member FDIC.

Visit Discover® Cashback Debit | Read our Discover review

Chime®

One of only a few online checking accounts we've found that permits cash deposits, the Chime checking account is one of our favorites for this. The fintech's checking account lets you make cash deposits at a long list of retailers, including Walgreens, Walmart, 7-Eleven, Dollar General, and more, although only Walgreens transactions are fee-free.⁶ <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p> This is more choices than you'd get with another platform that lets you deposit cash, like Varo.

There's plenty to like about this account, including a large fee-free ATM network, a debit card, and no minimum balance requirements. I also like this account if your income and expenses might be a little erratic and occasionally lead to a lower balance.

You also might find some of Chime's other accounts useful, like The secured Chime Credit Builder Visa® Credit Card¹⁶ <p>The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.&nbsp; To apply for Credit Builder, you must have an active Chime® Checking Account.</p> or high-yield savings account, and it's nice to have more than one account at the same institution for ease of managing those accounts.

Like some of the other accounts on this list, Chime offers the ability for you to get your paycheck up to two days early with direct deposit. But on top of that, Chime SpotMe® overdraft protection covers any accidental overdrafts up to $200 so your purchases aren't declined, and it won't charge you an overdraft fee either.⁸ <p>SpotMe® for Credit Builder is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account; SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month. Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member’s Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won't cover non card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. <a href="https://www.chime.com/policies/">SpotMe on Credit Builder Terms and Conditions</a>.</p>

Visit Chime® | Read our Chime review

Chase Checking Accounts

Chase offers a variety of checking account options for children, teens, and young adults, including Chase First Banking, which is available for kids as young as 6 years old if their parent or guardian has an eligible account. If I banked with Chase, I'd absolutely look into accounts for my kids.

For kids between 6 and 17, there's no monthly fee, but Chase College Checking has a $12 monthly fee that can be waived with a certain average balance or electronic deposit minimum.

Adults also have a variety of accounts to choose from, including Chase Total Checking®, its most popular option. That account includes Chase Overdraft Assist, which offers no overdraft fee if you're overdrawn by $50 or less at the end of a business day.

It has a relatively limited ATM network of 15,000, but it does have in-person branches, so it could be a good fit if you prefer face-to-face customer service. Member FDIC.

Visit Chase Total Checking® | Read our Chase Bank review

Axos Rewards Checking

Axos Rewards Checking offers you the opportunity to earn rewards for using your account in a variety of ways. If I were able to meet the requirements, I'd take advantage of the opportunity for a significant APY on checking balances with Axos. (The maximum APY is almost comparable with that of high-yield savings accounts.)

You must receive at least $1,500 in monthly direct deposits to qualify for an APY and any other additions to your APY, so if your income and employer fit that model, it's a great option.

Other activities that make you eligible for further rate increases include:

• Minimum of 10 debit card transactions per month or link an account to Personal Finance Manage
• Average daily balance of $2,500 in an Axos Invest Managed Portfolios Account
• Average daily balance of $2,500 in an Axos Invest Self Directed Trading Account
• Make full monthly loan payments (mortgage, personal, or auto loan) with your Axos Rewards Checking

Altogether you have the opportunity to earn up to 3.30% APY on your account balance.¹⁸ <p>APY means Annual Percentage Yield. APY is accurate as of June 7, 2024. Interest rate and APY may change after initial deposit depending on the terms of the specific product selected. Minimum opening deposit is $0.</p> Given that checking accounts rarely pay interest at all, this is a pretty high interest rate.

In addition, this rewards checking account does not charge overdraft or insufficient fund fees. There are also no maintenance fees or minimum balance requirements. Plus, there is no initial deposit requirement to open the account and Axos will reimburse all domestic ATM fees, making it a really simple bank, even if you don't meet the requirements for the higher APY.

Member FDIC.

Visit Axos Bank | Read our Axos Bank review

Our advice for picking a checking account

As you compare the best checking accounts available, you'll need to consider your goals and lifestyle. Here's what to look at as you research account options:

Navigating fees

These days, there's almost no reason to pay a banking institution for your checking account. While some of the banks included here charge monthly account fees, you can typically get those fees waived. Plus, a lot of banks don't charge account maintenance fees anymore, so you should be able to access the checking features you need without losing money.

If you plan on keeping a decent-sized balance in your checking account, then an account that waives monthly fees when you meet a minimum balance might be a good fit for you.

Take into account any fees you might encounter before signing up for a new checking account. You can search online for the bank's name or checking account + "fees" and typically find this information.

Look for the following:

• Monthly account maintenance fees
• Overdraft fees
• ATM fees
• Non-sufficient fund (NSF) fees
• Debit card fees

Of course, no one wants to pay any fees, but be sure you understand fee structures of your new account. If you rarely let your balance dip below $500 and that's the minimum amount to avoid a monthly fee, you're probably safe. Or if ATMs are important to you, check the bank's ATM locator to ensure that there are plenty of fee-free machines in your area.

Does the bank offer the features and benefits you need?

Next is a fairly obvious question as well. What do you want from your checking account? Think about fees, how you'll deposit money and withdraw money, and whether you expect your account to earn interest, for example.

Consider these benefits that many checking accounts offer:

• Fee-free ATM access: How many ATMs are available? Does the bank reimburse out-of-network ATM transactions?
• Annual percentage yield (APY): Does the checking account pay more than a pittance in interest on your balance? How do you earn it?
• No overdraft fees: Does the bank offer overdraft protection if you make a payment and your balance dips temporarily?
• Early paycheck access: Does the bank provide optional access to funds up to two days before the direct deposit date?
• Joint accounts: If this applies to you, you might want a joint checking account with a partner or relative.
• Mobile banking: Can you access your bank account via mobile app? How user-friendly is it?
• In-person branches: If you prefer in-person banking, choose a bank that has physical branches near you.
• Cashback rewards: A few checking accounts offer a rewards program on your spending, which can be nice.

Figure out what matters most to you. You probably won't get all of these features, so prioritize the benefits you need and want.

For me, for example, I prefer mobile banking to in-person, but I don't really care about ATM access or cash rewards. I tend to keep a relatively high balance in my checking account, too, so I don't need to worry about a minimum balance or overdraft fees. But your priorities in a checking account may be different, so choose what works best for you.

FAQs

Bottom line

Choosing the right checking account is crucial for healthy money management. Some checking accounts offer high interest rates, while others have low or no fees. Some have convenient mobile banking features, while others provide more flexibility and perks.

Among our top recommendations are Chime, Axos, and Sofi. However, there are plenty of options available, so make sure to research and compare your options before making your choice.