Best Checking Accounts of October 2024

Updated Oct. 4, 2024
Fact checked

Elevate your banking experience with the best checking accounts available today from our partners. Enjoy fantastic perks like generous signup bonuses, cash back on purchases, early payday, and more.

Most Popular
bonus icon Earn a $400 bonus1 with qualifying activities
  • Earn a $400 bonus1 with qualifying activities
  • No overdraft fees to worry about
  • Minimum opening deposit is just $50
  • $100 Negative Balance Buffer2 for eligible clients
  • Five ways to avoid the monthly maintenance fee3
  • Member FDIC
bonus icon Earn up to a $300 bonus and up to 4.50% APY4 on your money
SoFi Checking and Savings
5.0
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  • Earn up to a $300 bonus and up to 4.50% APY4 on your money
  • No account, overdraft, or monthly fees5
  • Get your paycheck up to two days early6
  • Access additional FDIC insurance up to $2 million7
bonus icon Earn 1% cash back on up to $3,000 in debit card purchases each month. That's up to $360 every year!9
  • Earn 1% cash back on up to $3,000 in debit card purchases each month8
  • No minimum deposit, no minimum balance, and no account fees
  • Easily switch direct deposit via the Discover mobile app or online for Early Pay (get your paycheck up to 2 days early!)
  • 60K+ fee-free ATMs and make cash deposits at Walmart stores nationwide
  • FDIC Insured
  • No minimum balance, no monthly service fees
  • Get your paycheck up to 2 days earlier with direct deposit10
  • Eligible Members can access fee-free overdraft up to $20011
  • 60K+ fee-free ATMs12nationwide
  • Automatic savings helps you grow your money faster

bonus icon Up to $300 bonus offer. Click ‘Open Account’ for more details.
  • $300 bonus offer. Click 'Open Account' for more details.
  • Multiple ways to waive the monthly fee
  • Thousands of ATMs and financial centers
  • 24/7 security with Total Security Protection® and fraud monitoring
  • Bank of America, N.A. Member FDIC

Bottom Line: Why We like the Truist One Checking Account

Experience the convenience and benefits of Truist One Checking. It's not just another checking account, it's a financial tool designed to cater to your everyday banking needs.

  • Earn a $400 Bonus: To receive the bonus, open a new Truist One Checking account online between February 28, 2024 and June 26, 2024 using promo code TRUIST400AFL24. Receive at least one qualifying direct deposit of $500 or more and complete at least 15 qualifying debit card purchases within 90 days of account opening. Terms apply.1
  • No Overdraft Fees, Low Minimum Deposit: No overdraft fees to worry about. Minimum opening deposit is just $50.
  • $100 Negative Balance Buffer: Eligible clients can overdraw their account up to $100 without any penalties, provided certain conditions are met.2
  • Avoid Monthly Maintenance Fees: There are five ways to avoid the monthly maintenance fee, including maintaining a certain balance, having a linked small business checking account, or being a student under the age of 25.3
  • Benefit Levels: Enjoy up to five benefit levels with automatic level adjustments based on your Truist One Portfolio balance.
  • Member FDIC: Your funds are safe and insured up to the standard deposit insurance amount.

Open a Truist One Checking account here

High Bonus Available
bonus icon Earn a $400 bonus1 with qualifying activities
  • Earn a $400 bonus1 with qualifying activities
  • No overdraft fees to worry about
  • Minimum opening deposit is just $50
  • $100 Negative Balance Buffer2 for eligible clients
  • Five ways to avoid the monthly maintenance fee3
  • Member FDIC


FAQs About Checking Accounts

What is required to open a new checking account?

Requirements vary by bank for opening an account, but you’ll typically need to be at least 18 years old and have a valid Social Security number or Individual Taxpayer Identification Number. You’ll also need to submit photo identification and provide proof of your current address.

How much should I keep in checking?

You should keep at least the minimum balance in your checking account and ensure you have enough to cover all your monthly bills. It’s a good idea to have a cushion to protect yourself from accidental overdrafts, but you shouldn’t keep too much money in your checking account if you could earn a better APY by moving some of that money into a savings account.

How many checking accounts should I have?

There’s no magic number; it’s totally okay to have one or multiple checking accounts in your name. Sometimes, having more than one checking account can make money management and budgeting easier. For example, you might want a separate checking account for spending on your kids, or a business checking account for your business expenses.

What does FDIC mean?

You may have noticed the words "Member FDIC" or "FDIC Insured" when shopping for a bank. The Federal Deposit Insurance Corporation provides deposit insurance for consumers, specifically to protect their funds if their bank fails.

Accounts that are insured by the FDIC must be deposit accounts, which include checking accounts, savings accounts, money market accounts, and CDs (certificates of deposit). With FDIC insurance, you’ll get up to $250,000 in insurance per owner, per insured institution, per account category.


How we chose these products

FinanceBuzz evaluated a selection of bank accounts offered by our partners, looking at various criteria including account fees, bonus offers, and more. We did not review all products in the category and compensation was considered when evaluating and ordering the products.