Ditch Your Old Bank: Earn Up to $300+ by Switching to These Checking Accounts

Last updated Aug. 14, 2025 | By FinanceBuzz Editors

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.

Limited-Time Offer

SoFi Checking and Savings

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Limited-Time Offer: Up to 4.50% APY on Savings + $300 Bonus

5.0

2025 award winner Best Checking and Savings Combo

Limited-Time Offer: Earn up to a $300 bonus and up to 4.50% APY on Savings (3.80% APY¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.SoFi members with Eligible Direct Deposit 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 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit 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. 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>. with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.² Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 9/3/25. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.
No account, overdraft, or monthly fees³ 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>
Get your paycheck up to two days early⁴ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Access additional FDIC insurance up to $3 million⁵ 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. 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 <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>.

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on SoFi's secure website

Truist One Checking

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Earn a $400 bonus with qualifying activities⁶ Terms and Conditions for Truist One Checking $400 Affiliate Offer 2025: TRUIST25AFL400 Offer Information: Open a new Truist One Checking account online from 5/1/25 through 10/29/25, receive at least 2 qualifying Direct Deposits* totaling $1,000 or more within 120 days of account opening and earn $400.  Account must be opened online. Enrollment in the promotion is required at the time of account opening using promo code TRUIST25AFL400. Please refer to the Account Opening and Enrollment section below for full instructions.  *A qualifying Direct Deposit is an electronic credit (greater than $5.00) of your salary, pension, Social Security or other regular monthly income deposited into your new checking account by your employer or outside agency via ACH. Person to person payments (such as Zelle®) or deposits made via a branch, ATM, online transfer, mobile device, debit/prepaid card number or the mail are not eligible direct deposits.  Offer Eligibility: Clients that are the primary account holder on an existing personal checking account with Truist or who have closed a personal checking account with Truist on or after 5/1/24 are not eligible to participate. Offer valid for Truist One Checking accounts only. Primary account holder must be 18 or older at the time of account opening. Truist employees, Directors, Officers, and Local Boards/Advisors are not eligible. Offer available only to US residents with a valid US taxpayer identification number. The qualifying checking account must be opened online and have a mailing address in: AL, AR, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC. Reward Processing: The reward will be deposited to the new checking account within 4 weeks after the qualification requirements have been met and verified. In order to receive the reward, the new checking account must be open, not restricted, and in good standing with a balance of at least $0.01 at the time of Truist verification and at the time of payout. An account is considered restricted if it has a temporary or permanent block that prevents credits from posting to the account. Truist verification will occur one time after the qualification requirements are initially met. Promotion is only applicable once per client and for one new qualifying checking account. Truist may report the value of any offer reward received to the IRS as required by law. Any applicable taxes are the responsibility of the recipient. Reward Forfeiture: Reward forfeiture will occur if: (1) the new checking account is changed to an account type not included in this client offer prior to payout, (2) the new checking account has a $0.00 or negative available balance or is restricted at the time Truist verifies the qualification requirements have been met or (3) the new checking account is closed or restricted at the time of payout. Other Terms: Minimum opening deposit is $50. The offer is non-transferable, may not be combined with any other checking offers, is subject to change, and may be discontinued at any time. Truist reserves the right, in its sole discretion: 1) to prohibit a reward payout for any offers claimed through third-party websites with no affiliation or prior authorization from Truist; and 2) to disqualify any account if Truist suspects accounts are being opened for the purpose of exploiting this promotional offer. All promotional payouts will be processed no later than 7/31/26 at which point this promotion (and any related disbursements) will be considered final, and no further disbursements will be made. Account Opening & Enrollment Instructions: To open and enroll your new account in the promotion, visit the offer website and click on “Open an account online.” Enter TRUIST25AFL400 into the promo code field provided, review the offer Terms and Conditions, and then select “Accept Offer”. Accounts opened without the promo code applied will not be eligible to participate in the offer. Once enrolled in the promotion, clients may receive promotional updates via the email address provided or by calling 800.709.8700. Version 2 03262025 TRUIST25AFL400

4.3

2025 award winner Best for Overdraft Protection

New checking clients can earn a $400 bonus with qualifying activities⁶ Terms and Conditions for Truist One Checking $400 Affiliate Offer 2025: TRUIST25AFL400 Offer Information: Open a new Truist One Checking account online from 5/1/25 through 10/29/25, receive at least 2 qualifying Direct Deposits* totaling $1,000 or more within 120 days of account opening and earn $400.  Account must be opened online. Enrollment in the promotion is required at the time of account opening using promo code TRUIST25AFL400. Please refer to the Account Opening and Enrollment section below for full instructions.  *A qualifying Direct Deposit is an electronic credit (greater than $5.00) of your salary, pension, Social Security or other regular monthly income deposited into your new checking account by your employer or outside agency via ACH. Person to person payments (such as Zelle®) or deposits made via a branch, ATM, online transfer, mobile device, debit/prepaid card number or the mail are not eligible direct deposits.  Offer Eligibility: Clients that are the primary account holder on an existing personal checking account with Truist or who have closed a personal checking account with Truist on or after 5/1/24 are not eligible to participate. Offer valid for Truist One Checking accounts only. Primary account holder must be 18 or older at the time of account opening. Truist employees, Directors, Officers, and Local Boards/Advisors are not eligible. Offer available only to US residents with a valid US taxpayer identification number. The qualifying checking account must be opened online and have a mailing address in: AL, AR, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC. Reward Processing: The reward will be deposited to the new checking account within 4 weeks after the qualification requirements have been met and verified. In order to receive the reward, the new checking account must be open, not restricted, and in good standing with a balance of at least $0.01 at the time of Truist verification and at the time of payout. An account is considered restricted if it has a temporary or permanent block that prevents credits from posting to the account. Truist verification will occur one time after the qualification requirements are initially met. Promotion is only applicable once per client and for one new qualifying checking account. Truist may report the value of any offer reward received to the IRS as required by law. Any applicable taxes are the responsibility of the recipient. Reward Forfeiture: Reward forfeiture will occur if: (1) the new checking account is changed to an account type not included in this client offer prior to payout, (2) the new checking account has a $0.00 or negative available balance or is restricted at the time Truist verifies the qualification requirements have been met or (3) the new checking account is closed or restricted at the time of payout. Other Terms: Minimum opening deposit is $50. The offer is non-transferable, may not be combined with any other checking offers, is subject to change, and may be discontinued at any time. Truist reserves the right, in its sole discretion: 1) to prohibit a reward payout for any offers claimed through third-party websites with no affiliation or prior authorization from Truist; and 2) to disqualify any account if Truist suspects accounts are being opened for the purpose of exploiting this promotional offer. All promotional payouts will be processed no later than 7/31/26 at which point this promotion (and any related disbursements) will be considered final, and no further disbursements will be made. Account Opening & Enrollment Instructions: To open and enroll your new account in the promotion, visit the offer website and click on “Open an account online.” Enter TRUIST25AFL400 into the promo code field provided, review the offer Terms and Conditions, and then select “Accept Offer”. Accounts opened without the promo code applied will not be eligible to participate in the offer. Once enrolled in the promotion, clients may receive promotional updates via the email address provided or by calling 800.709.8700. Version 2 03262025 TRUIST25AFL400
No overdraft fee to worry about
Minimum opening deposit is just $50
Balance Buffer⁷ The Balance Buffer is only available with Truist One Checking and allows clients to overdraw their account up to $100. There is no decision required as this feature is automatically available when a client qualifies. To INITIALLY QUALIFY for the Balance Buffer, the requirements below must be met: <ul> <li>- Account must be opened for a minimum of 35 calendar days</li> <li>- Account must be funded with a positive balance</li> <li>- A single direct deposit of at least $100 made within the last 35 calendar days</li> </ul> To REMAIN QUALIFIED for the Balance Buffer, the requirement below must be met: <ul> <li>- A single direct deposit of at least $100 made within the last 35 calendar days.  After qualifying, if 35 calendar days pass without a Direct Deposit of at least $100, you will no longer have access to the Balance Buffer.</li> </ul> For accounts that qualify for the Balance Buffer, once the account is overdrawn by $100, additional transactions will typically be declined or returned. For accounts that qualify for the Balance Buffer and also have Overdraft Protection, Truist will use the Balance Buffer first.  If the account has neither, transactions that exceed the account balance will typically be declined or returned. for eligible clients
Ways to waive the monthly maintenance fee⁸ The Monthly Maintenance Fee (MMF) can be waived for the Truist One Checking account for each statement cycle by: Option 1: Making $500 or more in total qualifying Direct Deposits per statement cycle. A qualifying direct deposit is an electronic credit via ACH deposited to your account during the current statement cycle. Pre-authorized transfers made from one account to another or deposits made via a branch, ATM, online transfer, mobile device, debit card/prepaid card number or the mail are not eligible to meet this requirement. Option 2: Maintaining a total combined ledger balance of $500 or more in any Truist related accounts across personal deposits and all investments as reflected on the business day before your statement cycle end date. A Ledger Balance is actual balance in your account on a specific day and does not reflect any holds or pending transactions. Your Total Combined Balance is the sum of all balances within the Truist personal deposit accounts (checking, savings, money market or CDs), IRAs or brokerage accounts introduced through Truist Investment Services, Inc. Related Accounts automatically includes all applicable accounts associated with primary and secondary account holders. Option 3: Having a personal Truist credit card, mortgage or consumer loan, excluding LightStream®. Option 4: Having a linked Small Business Checking Account. Eligible Small Business account types include: Truist Dynamic Checking, Business Interest Checking, Simple Business Checking and Business Value 200. Option 5: Primary client is a student. The waiver for a student requires they are listed as the primary account owner and they provide their anticipated graduation date. The waiver expires on the provided graduation date. On this date, the account is subject to the Monthly Maintenance Fee unless at least one waiver criterion is satisfied. Option 6: Primary client is under the age of 25 or age 62 and older. Truist Bank, Member FDIC. ©2025, Truist Financial Corporation. Truist, Truist Purple and the Truist Logo are service marks of Truist Financial Corporation.
Member FDIC

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U.S. Bank Smartly® Checking

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Earn up to $450 when you open a new U.S. Bank Smartly® Checking account and complete qualifying activities

4.3

2025 award winner Best for Bonuses

Earn up to $450 when you open a new U.S. Bank Smartly® Checking account and complete qualifying activities
Subject to certain terms and limitations. Offer valid through September 16, 2025. Member FDIC
No Overdraft Protection Transfer fee, $50 overdrawn Available Balance safety threshold and Overdraft Fee Forgiven program
Complimentary access to Greenlight to raise financially smart kids
Offer may not be available if you are an existing U.S. Bank customer or live outside of the U.S. Bank footprint

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Highly Rated Mobile App & No Monthly Maintenance Fees

KeyBank

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Earn $300 with Key Smart Checking® with qualifying activities⁹

Earn $300 with Key Smart Checking® with qualifying activities
Use EasyUp® to build up savings or pay down debt without even thinking about it
With Relationships Benefits, earn higher interest rates, more cashback, loan discounts and more — it all starts with a KeyBank checking account
You could get paid up to two days early with eligible direct deposit

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on KeyBank's secure website

Bottom Line: Why We Like the SoFi Checking and Savings Account

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 3.80% APY.¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.SoFi members with Eligible Direct Deposit 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 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit 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. 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>. Plus, when you set up direct deposit, you could also earn up to a $300 bonus.

Earn Up to 3.80% APY: With direct deposit or qualifying deposits, you can earn up to 3.80% Annual Percentage Yield (APY) on savings balances and 0.50% APY on checking balances. Without, you can earn 1.00% APY on savings balances and 0.50% APY on checking balances.
Earn Up to $300 With Direct Deposit: 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 minimum balance fees. No monthly fees. No overdraft fees.¹⁰ 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.  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 > Savings > Current APY or (ii) Banking > Checking > Current APY.  Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage. Plus, 55,000+ fee-free ATMs within the Allpoint® Network.³ 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>
Get Paid Up to Two Days Early: Feel the magic of payday up to two days earlier — automatically — when you set up direct deposit.⁴ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Access Additional FDIC Insurance Up to $3M: Deposits are insured up to $3M through a network of participating banks. SoFi is a Member, FDIC. ⁵ 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. 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 <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>.

>> Open an account with SoFi® here

Limited-Time Offer

SoFi Checking and Savings

Visit SoFi

Limited-Time Offer: Up to 4.50% APY on Savings + $300 Bonus

5.0

2025 award winner Best Checking and Savings Combo

Limited-Time Offer: Earn up to a $300 bonus and up to 4.50% APY on Savings (3.80% APY¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.SoFi members with Eligible Direct Deposit 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 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit 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. 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>. with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.² Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 9/3/25. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.
No account, overdraft, or monthly fees³ 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>
Get your paycheck up to two days early⁴ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Access additional FDIC insurance up to $3 million⁵ 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. 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 <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>.

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on SoFi's secure website

Your Checking Account Isn’t Enough — Grow Your Savings Faster With a High-Yield Savings Account

Your checking account is great for everyday transactions, but it's not designed for growing your money. Most checking accounts pay little to no interest — often just 0.01% APY (annual percentage yield)¹¹ The product and annual percentage yield (APY) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your area. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. Always verify account details and availability with the financial institution before opening an account. . By moving extra cash into a high-yield savings account with a high APY, you can watch your balance grow over time with compound interest. Don’t leave money on the table — start putting your savings to work with these top high-yield savings accounts from our partners.

Limited-Time Offer

2025 award winner Best Checking and Savings Combo

SoFi Checking and Savings

5.0

Learn More

on SoFi's secure website, Member FDIC

APY

4.50%

Minimum Balance for APY

Bonus Offer

Up To $300

Why We Like It

Limited-Time Offer: Earn up to a $300 bonus and up to 4.50% APY on Savings (3.80% APY¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.SoFi members with Eligible Direct Deposit 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 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit 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. 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>. with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.² Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 9/3/25. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.
No account, overdraft, or monthly fees³ 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>
Get your paycheck up to two days early⁴ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Access additional FDIC insurance up to $3 million⁵ 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. 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 <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>.

Learn More

on SoFi's secure website, Member FDIC

Limited-Time Offer

Excellent For Earning A High Bonus on Large Deposits

Premium Savings

5.0

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on E*TRADE's secure website, Morgan Stanley Private Bank, National Association, Member FDIC

APY

4.00%

Minimum Balance for APY

Bonus Offer

Up to $750

Why We Like It

Earn a 4.00% Annual Percentage Yield¹² As of 04/30/2025, the Annual Percentage Yield (APY) of the Premium Savings Account offered by Morgan Stanley Private Bank, National Association, Member FDIC is 4.00%. Your interest rate and APY may change at any time and fees may reduce earnings. Please visit <a href="http://etrade.com/ratesheet">etrade.com/ratesheet</a> for information regarding this account's current interest rate and corresponding APY. with Premium Savings
Manage your money from anywhere with their mobile app
No minimum initial deposit,¹³ No minimum initial deposit is required to open an account.  However, account must be funded within 30 days to remain open. and no monthly account fees
FDIC insured up to $500,000¹⁴ The Premium Savings Account gives Morgan Stanley Private Bank, National Association, Member FDIC the ability to send any amount held on deposit in your Premium Savings Account to other depository accounts at Federal Deposit Insurance Corporation ("FDIC") member banks with the purpose of affording you additional FDIC insurance coverage. It is designed to offer up to $500,000 in FDIC coverage to individual accounts (up to $1 million for joint accounts). Certain conditions must be met. <a href="https://us.etrade.com/l/f/agreement-library/premium-savings-bank-deposit-program">Learn more</a>. once certain conditions have been satisfied
Limited-Time Offer: Earn a Cash Bonus of $250 when you deposit $25,000 - $49,999, $500 on deposits $50,000 - $74,999, and $750 on $75,000 or more. Terms Apply¹⁵ To be eligible for this offer, you must apply promo code SAVE25 at the time of account opening.  This promotional code is intended for single use only and is non-transferable. This offer is only valid for a new Premium Savings Account.  This offer is not valid for Checking, Max-Rate Checking or line of credit, or other accounts that we or our affiliates offer.  IRA and non-IRA accounts are ineligible.  This offer is only eligible to one new opened and funded Premium Savings Account (PSA) within 30 days.  Excludes non-U.S. residents, and residents of any jurisdiction where this offer is not valid. Customers may only be enrolled in one offer at a time.  Cannot be combined with any other offers.  Each customer is limited to a lifetime maximum of two new Premium Savings Account offers. Other restrictions may apply. Offer may be removed at any time.

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on E*TRADE's secure website, Morgan Stanley Private Bank, National Association, Member FDIC

2025 award winner Best for Customer Service

American Express® High Yield Savings

5.0

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on American Express' secure website, Member FDIC

APY

3.50%

Minimum Balance for APY

Bonus Offer

N/A

Why We Like It

Earn a competitive 3.50% annual percentage yield (APY)¹⁶ The Annual Percentage Yield (APY) as advertised is accurate as of July 23, 2025. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened.  from a trusted brand
No minimum deposits or balances required, and no monthly fees¹⁷ There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.
Award-winning financial institution with 24/7 access to customer service representatives
Accounts offered by American Express National Bank, Member FDIC, Terms Apply

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on American Express' secure website, Member FDIC

Frequently Asked Questions

When picking a new bank account, there are a few key things to consider, like the types of products and services they offer, the fees they charge, and the bonuses available. If you prefer visiting a branch, check if the bank has locations near you. And remember, you don’t have to stick with just one bank — opening different accounts at different banks can help you get the best rates and offers.

Why should I open a checking account?

Checking accounts are a great starting point for managing your money because they’re easy to use and secure. You can use them for everyday tasks like paying bills, shopping, and receiving your paycheck. Having a checking account can help you keep your finances organized. For example, you can set up direct deposits from your employer and automate bill payments, making things more convenient. Plus, with mobile apps, you can check your account, transfer money, and make payments from anywhere, whether you're at home or on the move.

What is required to open a new bank 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 a checking account?

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 bank 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.