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Best Checking Accounts
of May 2024

BANKING - CHECKING ACCOUNTS
Last updated May 22, 2024 | By FinanceBuzz Editors

We receive compensation from the products and services mentioned in this story, but the opinions are the author's own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

We have news for you … You do NOT need to be loyal to your current bank. If you’ve been with them for years — but they’ve never done anything good for you beyond holding your money — then it might be time to switch.

There are far better accounts out there right now from our partners that could offer better benefits than your current account. Plus, many have fantastic incentives like cash signup bonuses, major cash back on purchases, early payday and more!

SoFi Checking and Savings Account

  • Earn up to a $300 bonus and up to 4.60% APY1 on your money
  • No account, overdraft, or monthly fees2
  • Deposit checks and view account information any time with the SoFi mobile app
  • Large ATM network; No withdrawal fees at Allpoint ATMs3
  • Get your paycheck up to two days early4
  • FDIC insured
Truist One Checking

  • Earn a $400 bonus5with qualifying activities
  • Five ways to avoid the monthly maintenance fee;6minimum opening deposit is just $50
  • Deposit checks, set up recurring bill payments, and transfer money with the Truist mobile app
  • More than 3,000 ATMs and 2,000 branch locations nationwide
  • $100 Negative Balance Buffer7for eligible clients and no overdraft fees to worry about
  • Member FDIC
Discover®️ Cashback Debit

  • Earn 1% cash back on up to $3,000 in debit card purchases each month8
  • No monthly account fees, no minimum deposit, and no minimum balance requirements
  • Manage your Discover account conveniently and securely from anywhere with Discover's mobile app
  • 60K+ fee-free ATMs and make cash deposits at Walmart stores nationwide
  • Access your paycheck up to 2 days early with Early Pay
  • Checking account deposits are FDIC-insured up to the maximum amount allowed by law
Chase Total Checking®

  • Enjoy $300 as a new Chase checking customer. Open a new Chase Total Checking® account with qualifying activities.9 FDIC Insured. Offer valid through July 24, 2024.
  • $12 monthly service fee, but you have multiple ways to waive it10
  • Manage all your accounts from the Chase Mobile® app
  • Over 4,700 in-person branches and more than 15,000 ATMs
  • No overdraft fee if you’re overdrawn by $50 or less at the end of the business day.11
  • Member FDIC
One

  • Earn 3% cash back at Walmart12and up to 5% cash back13on select brands
  • No monthly fees or minimum balances
  • Get paid up to 2 days early14
  • Earn 5.00% APY15on Savings with eligible deposits
  • FDIC insurance through Coastal Community Bank16

Bottom Line

This is likely one of the top savings + checking accounts we’ve seen, and offers like this can be very rare. This powerful account from SoFi allows you to earn up to 4.60% APY17. Plus, when you set up direct deposit, you could also earn up to a $300 bonus.

Earn Up to 4.60% APY18: With direct deposit or qualifying deposits, you can earn 4.60% Annual Percentage Yield (APY) on savings balances and 0.50% APY on checking balances. Without, you can earn 1.20% APY on savings balances and 0.50% APY on checking balances.

Earn Up to $300 With Direct Deposit19: Sign up and set up direct deposit, wait for your direct deposit to hit your account (typically 2-4 weeks), then collect a cash bonus of $50 to $300 depending on your direct deposit amount.

No Account Fees: No overdraft fees. No minimum balance fees. No monthly fees. Plus, 55,000+ fee-free ATMs within the Allpoint® Network.

Get Paid Up to Two Days Early: Feel the magic of payday up to two days earlier — automatically — when you set up direct deposit4.

Access Additional FDIC Insurance Up to $2M: Deposits are insured up to $2M through a network of participating banks20.

No-fee Overdraft Coverage: Overspent by accident? No problem. You'll be covered up to $50 with no fees with qualifying direct deposits21.

Open an account with SoFi here

SoFi Checking and Savings Account Benefits

  • Earn up to a $300 bonus and up to 4.60% APY17 on your money
  • No account, overdraft, or monthly fees
  • Get your paycheck up to two days early4
  • Savings of up to 20% or more on select trips booked through SoFi Travel
  • Access additional FDIC insurance up to $2 million

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.

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