Things to Look Out For

When opening a checking account with a bank you can consider a few things, these include:

• Monthly maintenance fees
• Minimum balance requirements
• Initial deposit requirements
• Branch network 
• ATM availability and platform
• FDIC or NCUA insured

For your convenience, we selected the ones that have no monthly maintenance fee, do not carry minimum balance requirements, have minimal initial deposit requirements, have a vast network of physical branches across the US, and use the most used ATM platform for seamless connectivity.

In addition, the banks we selected also carry insurance of up to $250000 for your checking account.

Best 5 Checking Accounts in the USA

Here are the best banks and checking accounts offered by different banks:

1. Capital One 360 Checking Account
2. Ally Interest Checking Account
3. Discover Cashback Debit Account
4. Alliant Credit Union High-Rate Checking Account
5. Chase College Checking Account
6. Capital One 360 Checking Account

The Capital One account ranks 1st because they do not require any minimum deposit or balance maintenance for checking accounts. On top of that, the bank has a huge 70,000+ ATM network. 

Their cards can also be used at all MoneyPass and Allpoint ATMs. Apart from these excellent features, the Capital One account also brings a mobile app that is very intuitive and user friendly. 

Every account has a few caveats, while you can use out-of-network ATMs, this will place an extra charge on your account that is not reversible. Moreover, the overdraft fee is $35 if you choose to debit your account beyond your balance.

2. Ally Interest Checking Account

Ally Interest Checking account is a close second because of their similar features, but the ATM network is smaller than that of the Capital One Bank. You still get to access 43000+ ATMs but the bank more than makes up for it by offering $10 reimbursement for using other ATM networks.

The other amenities are pretty much the same as no minimum deposit is required and the bank even offers a high 0.25% APY if you have a balance of above $15000. $0 overdraft fee for crossing your prescribed limits is a welcome characteristic as well. 

Sadly, the bank doesn’t have physical presence and you can only access your account through the mobile app or online.

3. Discover Cashback Debit Account

Discover Cashback Checking/Debit account is the best bank account if you’re looking for cashbacks and rewards, the bank offers 1% cash back up to $3000 each month on debit card purchases.

You get the option to forego the overdraft option so that your bank doesn’t get hit by unexpected charges, and while the ATM network is large, they don’t offer reimbursement for ATM usage on out-of-network usage.

4. Alliant Credit Union High-Rate Checking

Now if you’re looking for a bank account that has a vast network of 80000+ ATMs and even then assists you with a $20 reimbursement for out-of-network usage, then Alliant Credit Union is the best place for you.

If you go paperless, you can get the advantage of 0.25% p.a. and you don’t require any specific amount to open a bank account. There are some hidden terms like you need to opt-in to the paperless banking and must also check the monthly e-return checkbox to qualify for returns.

There are options to get a credit card should you feel the need and the bank offers one of the best customer services in the country.

5. Chase College Checking

If you’re between 17 to 24 and are a student then Chase college checking account is the best for you. The reason it is best for students is because although their accounts carry maintenance and other charges, they’re exempt for students. 

There are options that can earn you up to $1000 if you’re a new account holder and the service of the bank is stellar. 

Chase College bank has a very easy sign up process and while people would think that they are an online only bank, it has a huge number of branches all across the country so you’ll never be out of support even if you travel but after 24 years of age you’ll find it to be expensive.