Best checking accounts for 2018

Best checking accounts

Checking accounts are notorious for just sitting there and doing nothing for you except holding onto your cash until you need to pay a bill. But there are accounts out there that do pay interest – albeit minuscule – and offer other benefits and enticements! We've done the research for you.

Several things to look for in a checking account:

– No minimum to open
– No minimum to earn interest
– No ATM fees (plus a large network)
– No monthly maintenance fee
– Free checks
– Mobile check deposit and transferring

Here are the best checking accounts for 2018, find the latest rates in the table at the end of the article:

360 Checking Account

Capital One 360

With its large network of no-surcharge ATMs, Capital One 360 offers a free checking account that is attractive for consumers looking to avoid common fees while earning interest. There is no minimum to open a 360 Checking account and customers have a variety of tools to manage their finances. These include online and mobile banking, including bill pay and mobile check deposit. Additionally, customers can easily access their money through a network of more than 40,000 free ATMs.

Interest Checking Account

Ally Bank

Online checking accounts provided by banks like Ally Bank give traditional brick-and-mortar institutions a run for their money in terms of annual percentage yield (APY). Not only do Ally Interest Checking account customers earn at least .10% interest on their balance, they could earn up to 0.60% for daily balances $15,000 or more. The high interest checking offered combined with no maintenance fees make Ally a great online bank for customers to grow their money.

High-Rate Checking Account

Alliant Credit Union

Alliant has one of the highest interest rates among the financial institutions featured on this list, advertising a rate 10.8 times the national average. To qualify for a High-rate Checking account, customers must sign up for eStatements and set up one or more monthly electronic deposits to the account. After, they have access to more than 80,000 free ATMs and even qualify for up to $20 per month on rebates when they are charged for using an ATM out of the Alliant network.

Total Checking Account

Chase Bank

Customers who want the benefits of both online and brick-and-mortar checking accounts frequently choose Chase for good reason. Chase has a wide network of 16,000 ATMs combined with 5,200 branches in addition to 24/7 customer support to meet your banking needs. This long-standing bank is also well-known for its online and mobile banking tools, including a popular mobile app. There is a $25 minimum deposit to open an account with a chance to waive a monthly service fee through any of the requirements listed on its website. Unlike some of the other banks listed, the Total Checking account does not earn interest.

Hybrid Checking Account

Radius Bank

If you're willing to deposit $2,500 or more in a Hybrid Checking account, you can take advantage of up to 0.90% APY advertised by Radius. Checking account balances under $2,500 do not earn interest. To open an account, customers must deposit $10, but Radius does not require a minimum balance after depositing this amount. The bank offers free ATMs, not charging a fee when withdrawing from an ATM belonging to another bank and rebating out-of-network fees at the end of the statement cycle.

High-Interest Checking Account

Bank5 Connect

While Bank5 Connect's online checking account is not a widely known compared to other banks', it has features and an interest rate that makes it competitive in the market. Bank5 Connect has an APY of 0.76% and customers only need $100 to start earning this high interest rate. This high-yield checking account has other perks, like not having a monthly maintenance fee and a debit card rewards program, that distinguish the bank.

Online Advantage Checking Account

Mutual of Omaha Bank

In exchange for a $1,500 daily balance, Mutual of Omaha's online-only checking account provides an advertised rate of 0.50% to gradually build your balance. Customers can open an Online Advantage Checking account with $100 and eligible to receive free checks for their first order. There is a $10 monthly maintenance fee, but for a low average balance of $100, the bank will waive the fee.

Compare Best Checking Accounts for 2018

Comment: Do you have a checking account from our Best Checking Accounts list? What accounts would you add?

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Cameron
Cameron
3 years ago

Have you looked at Simple bank? I think it’d be right up your alley. https://www.simple.com/ No fees ever, free checks mailed (all digital), free ATMs, and an amazing built-in envelope budgeting system. Whenever you purchase anything, your phone will immediately tell you how much you have left in your safe-to-spend budget and give you the opportunity to put that purchase against a certain envelope (aka goal) like groceries instead. It also helps you save by automatically putting money towards certain goals so you never see the money until the goal is met or you take the time too look at… Read more »

Seth
Seth
3 years ago

I don’t understand why Lake Michigan Credit Union isn’t on this list. I’ve used them for years and nobody comes close to their 3% interest on checking. Great mobile app as well.

anon
anon
3 years ago
Reply to  Seth

looks decent. how long have they been offering the 3%? How do you think they are able to do this? – eg are there other account fees? It seems too good to be true.

michiganmoon
michiganmoon
3 years ago
Reply to  anon

I use LMCU, there are no other fees. You only get 3% on the first $15,000.

They make up for it, by giving out home loans at interest rates above 3% and making you use their debit card at least 10 times a month (which then charges the company you use the debit card with a fee).

anon
anon
3 years ago
Reply to  Seth

I see these monthly usage requirements:
Direct deposit into any LMCU account
Minimum of 10 posted debit card purchases per month
Minimum of 4 logins to home banking per month
Sign up to receive eStatements/eNotices

Patrick
Patrick
3 years ago

Ally Bank.. there is no contest here. No fees, no minimum balances, no limit on # of accounts. End of story

Brandon
Brandon
2 years ago

The Radius bank/Summit Checking account now offers 0.25% interest for accounts under $2500 and 1.00% interest on accounts over $2500. They also cover any and all ATM fees both domestic and international, just recently opened the account and I like it a lot.

http://bsquared.website/2017/12/20/aspirationsummit-savings-account/

Emily Lien
Emily Lien
1 year ago

Hey, I just opened an account at Heritage Bank and am getting their 3.33% Interest on my CHECKING account! You should check it out! https://www.heritagebankna.com/ecentive-account/ Earn these monthly incentives: Earn our highest yielding checking interest rate on balances up to $25,000.00 Free account includes no monthly service charge Automatic refunds up to $25 per month (Refunds for domestic ATM fees charged by other ATM owners and MasterCard cross border/currency conversion fees for debit card foreign transactions) Meet these 3 easy qualifications: 1. Make 10 or more debit card payments and/or purchases that will post to your account each month (excluding… Read more »

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