7 Best Checking Accounts for June 2024

The best checking accounts allow for convenient access and spending of funds with minimal hassle at any place or time. Get started with a checking account from Current or CIT Bank.

Checking accounts come with a variety of benefits that go beyond just basic banking services of receiving deposit and funding purchases. From free ATM fees to low or no account fees, and even the opportunity to earn interest on your balance, there are plenty of options out there to help you make the most of your money.

When choosing for the best checking account, consider factors such as fees, interest rates and convenience. Start with Benzinga’s list of the best places to open a checking account for the rundown on the unique benefits available now.

Quick Look: The Best Checking Accounts

• Best Checking Account App: Current
• Best Bank Checking Account: CIT Bank
• Best Credit Union Checking Account: Alliant Credit Union
• Best for ATM Fee Reimbursements: Axos Bank
• Best for Savings, Spending & investing: Fierce
• Best for Small Business Owners: NorthOne
• Best for Rewards Checking Accounts: LendingClub

Best Checking Accounts

Here are our top picks for the best checking accounts to open this year.

1. Best Checking Account App: Current

Current is a fintech company that helps parents and children make smart money choices. It also provides various benefits through its spending account. Unlike traditional banks that have separate checking and savings accounts, Current accounts combine the features of both, which allows you to earn up to 4.00% APY. Accounts come with a debit card and the option to establish up to three Savings Pods for various objectives.

Current is a mobile banking solution with account accessibility only offered through one of the Current mobile apps. Their banking services are provided by Choice Financial Group and Cross River Bank, both members of FDIC.

Why We Love It: With features like early direct deposit, instant transfers and no hidden fees, Current checking account is a popular choice for those looking for a convenient and hassle-free banking experience.

2. Best Bank Checking Account: CIT Bank

CIT is a digital bank that offers eChecking. This standard checking account earns compound interest on your balance. You can open an eChecking account through CIT with as little as $100. You can earn 0.10% APY with under $25,000 in your account. A larger balance will earn you 0.25% APY. 

There’s no monthly service fee and no online transfer fee with eChecking. You can also get up to $30 in reimbursed external ATM fees each month. 

Possible fees include charges for:

• Outgoing wire transfers (free if you keep a $25,000 balance) 
• Overdraft fees
• Return deposit items
• Stopping a check
• Processing legal documents
• You may also have to pay for debit card replacements (you get one free per year) and international withdrawals. 

The CIT Bank mobile app allows you to do mobile check deposit simply by taking a picture of the front and back of the check. You can also make unlimited withdrawals and disbursements directly from your CIT Bank account with just a few taps on your phone.

Why We Love It: CIT Bank’s eChecking account offers a range of benefits for those looking for a digital banking experience. With no monthly maintenance fees, ATM fee reimbursements, and convenient online and mobile banking options, it’s worth considering for your banking needs.

3. Best Credit Union Checking Account: Alliant Credit Union

Alliant Credit Union offers two main types of checking accounts: High-Rate Checking and Teen Checking. Both accounts come with a host of benefits and features that make managing your finances easy and convenient. Alliant Credit Union’s High-Rate Checking account is our pick for the best credit union checking account. Note that credit unions require your membership. 

Benefits include 0.25% interest on your balance. There are no service fees if you sign up for paperless statements and make one qualifying deposit per month. There’s no minimum balance, and you’ll have access to over 80,000 free ATMs. Alliant also reimburses up to $20 monthly in out-of-network ATM fees.

Membership with Alliant isn’t as limited as some other credit unions. You must be a former or current employee or family member of an employee at an Alliant partner. You may be eligible if you live near its headquarters in Chicago. 

Membership is also available for children who work with Foster Care to Success (FC2S). This program helps kids transition from foster care into adulthood with support from scholarships, grants, internships and more.

Why We Love It: We love Alliant Credit Union because of its competitive interest rates, no monthly fees, nationwide ATM access and ATM fees reimbursement.

4. Best for ATM Fee Reimbursements: Axos Bank

ATM fees add up and paying to withdraw your own money feels unfair. Axos Bank offers some degree of ATM fee reimbursement with all five of its personal checking accounts. 

• Rewards Checking offers several benefits including no initial deposit requirement, ATM fee reimbursements, and no maintenance fees, overdraft fees or minimum balance fees. Start with a direct deposit and have the opportunity to build your own APY up to 3.30% APY through their various banking services. Use the promo code AXOS300 when you apply for a Rewards Checking account by Jun. 30, 2024. Then have qualifying direct deposits to earn up to a $300 bonus!

• Essential Checking is a basic account with no monthly fees and no overdraft or insufficient funds fees. It also allows you to receive your paycheck up to two days early. 

• CashBack Checking gives you 1% cashback on debit card purchases when you maintain an average daily balance over $1,500. If the balance is below $1,500, you will earn 0.50% in cash back for the month.

• The Golden Checking account is restricted to those 55 and up. You can earn 0.10% APY and get reimbursed up to $8 in domestic ATM fees per month. The accounts provide unlimited checks. There is no minimum balance or monthly fee. 

• First Checking is attached to a parental account for teens aged 13 to 17. This account earns 0.10% APY. There is no monthly fee or overdraft charges. First Checking aims to give kids a banking and money management head start with the peace of mind of a joint account.

Why We Love It: Axos Bank offers a diverse range of checking account options to cater to a wide range of banking needs. Whether you're looking for a basic account with no fees, an interest-earning account, or a specialized account for a specific demographic, Axos Bank has a checking account that can meet your requirements.

5. Best for Saving, Spending & Investing: Fierce

Get a 5.25% APY with checking accounts from Fierce, plus no fees or minimums. By downloading the Fierce app, you get a free debit card to use for all your purchases with access to a nationwide ATM network with more than 55,000 fee-free ATMs, meaning that you will keep money in your pocket even though you don’t have physical branches that you can visit. Even so, you can save money in your checking account and get that competitive APY you want, and it’s all FDIC-insured.

If you’re interested, the app also offers the option for fractional stock trading, crypto trading and wealth tracking all in one place. In this way, you can make more of your money and get a hold of how your finances are working. Because your checking account is tied to an app that allows you to invest, it’s much easier to fund your account and withdraw your earnings back to your checking account

Why We Love It: Fierce checking accounts are a great option for consumers who want to maximize their savings, minimize fees and enjoy exclusive benefits. With high APY, low fees and exciting rewards, these accounts are a smart choice for anyone looking to take their banking to the next level.

6. Best for Small Business Owners: NorthOne

NorthOne is an online-only bank designed specifically for small businesses, freelancers and startups. It gives special attention to the needs of small business owners and builds solutions into its checking accounts. 

Small businesses banking with NorthOne benefit from the following features:

• Fully-mobile banking, including cash deposits using your NorthOne Mastercard debit card at ATMs nationwide
• 24/7 human support via an in-app chat, scheduled call or email
• Cash flow tracking for revenue coming in and expenses going out
• Built-in accounting and bookkeeping features

NorthOne’s accounting options let you create subaccounts to save for expenses like taxes. You can also manage receipts and sort purchases into labeled categories. Monthly fees are on a sliding scale. Each account option is set up for a specific number of transactions each month.

Why We Love It: With features like expense tracking, invoicing, multiple user access, and integrations with accounting software, NorthOne makes managing finances easier and more efficient. Whether you're a freelancer looking to simplify your finances or a small business owner looking for a reliable banking partner, NorthOne has you covered.

7. Best Rewards Checking Accounts: LendingClub

LendingClub is well-known for its peer-to-peer lending platform, where individuals can borrow money from and lend money to each other. But now, they're expanding their services to include a checking account option.

A minimum amount of $25.00 is required to open a Rewards Checking account. You can earn 0.15% APY on balances of of $100,000 and up and 0.10% APY on balances below $100,000. Plus, get 1% cash back when you use the debit card on qualified purchases.

Why We Love It: With cashback rewards, no monthly fees, and easy online and mobile banking, customers can enjoy a range of benefits when they open a Rewards Checking account with LendingClub.

What to Look for in a Checking Account

Here are some important factors to consider when choosing a checking account that best fits your needs:

• Fees and minimum balance requirements: Some checking accounts may have monthly maintenance fees, overdraft fees, or ATM fees that can quickly add up if you’re not careful. Look for an account that either has no fees or offers ways to waive the fees, such as maintaining a minimum balance or signing up for direct deposit.
• Convenience and accessibility: When choosing a bank for your checking account, look for one with a large ATM network, online and mobile banking services, and convenient physical locations to save time and hassle in the long run.
• Interest rates: While interest rates on checking accounts are generally lower than savings accounts, it’s still worth considering when choosing a checking account. Some banks offer interest-bearing checking accounts that can help your money grow over time. Look for an account with a competitive interest rate to make the most of your money.
• Account features: Some accounts may offer perks such as rewards programs, ATM fee reimbursements, or overdraft protection. Think about what features are most important to you and choose an account that aligns with your needs.
• Customer service: Having access to helpful and responsive customer service representatives from a bank is important for addressing any issues or questions. Look for a bank with good reviews and a reputation for excellent customer service.

By considering these factors, you can find a checking account that meets your needs and helps you manage your finances effectively.

Find the Right Checking Account

The best checking account for you will depend on your individual needs and preferences. Make sure to compare the features, fees and benefits of each account to find the one that best fits your financial goals. Start with our recommended institutions to get started today.

Frequently Asked Questions