10 Best Checking Accounts of 2023
Checking accounts allow individuals and businesses to have round-the-clock access to their money. They can make deposits and withdrawals as needed. In this day and age, it is more important than ever to have a checking account that suits your needs. With so many different options available, it can be hard to know which account is right for you. That’s why we have compiled a list of the 10 best checking accounts of 2023. These accounts offer great features and benefits, so you can be sure your money is in good hands.
Capital One 360 Checking Account
Capital One Bank is one of the top banks in the U.S with more than 70,000 ATMs nationwide hence users are always in close proximity with their money. The bank has branches in seven Eastern and two Southern states and is ideal for customers seeking to have a full-service banks with a wide network of access branches and no-fee ATMs.
The Capital One 360 Checking Account is one of the best checking accounts in the U.S. The account does not charge monthly fees. Furthermore, it does not need a minimum deposit to open and there is no minimum balance to maintain. Users also earn 0.10% APY on all balance tiers with no requirements.
The bank offers a number of overdraft coverage options including no-fee overdrafts and free overdraft protection transfers on Capital One-approved transactions.
Pros
- No opening deposit or minimum account balance
- No monthly service fee
- 0.10% APY on all account balances
- Range of overdraft protection options
- No foreign transaction fee
- Processes direct deposits up to 2 days early
Cons
- Doesn’t reimburse out-of-network ATM fees
- $2 out-of-network ATM fee
- Limited access to customer service by phone or in-person
Chase Total Checking Account
Chase Bank is a widely trusted name in financial services and banking and one of the best checking accounts on the market. The Chase Total Checking account offers no monthly fee or minimum balance requirements. This allows customers to take full advantage of the account without having to worry about hidden fees or hefty deposits.
The account also offers unlimited ATM fee refunds, meaning users can withdraw cash without any worries. In addition to this, Chase waives the $34 overdraft fee for first-time offenders as long as the account is in good standing.
Pros
- No monthly service fee or minimum balance requirement
- Unlimited ATM fee refunds
- $34 overdraft fee waived for first-time offenders
Cons
- Must maintain an active account to receive waivers and refunds
- $2.50 out-of-network ATM fee
- No international ATM access without additional fees
Wells Fargo Everyday Checking Account
Wells Fargo is one of the most trusted banks in the U.S and this account is an excellent choice for those looking for a no-fee checking account with no minimum balance requirement. The bank does not charge any monthly service fees, which makes it ideal for customers who do not plan on having large sums of money in their accounts.
The Wells Fargo Everyday Checking account also offers free online banking and bill pay services, as well as overdraft protection options to help prevent costly overdraft fees. In addition, customers can access their funds 24/7 by using any Wells Fargo ATM or through mobile deposits.
Pros
- 24/7 access to funds through ATMs or mobile deposits
- Large branch network
- Free online banking and bill pay services
- Overdraft protection options to prevent costly fees
- Free for college students
Cons
- Non-interest account
- Minimum opening deposit
US Bank Easy Checking Account
US Bank is one of the most popular banks in the U.S and their Easy Checking account does not have any monthly service fees, no minimum balance requirements, and no opening deposit required. The bank also offers free online banking, mobile banking, and bill pay services as well as overdraft protection options for customers who need a bit of extra security.
The account also offers free ATM access for customers with US Bank cards, as well as unlimited refunds for ATM fees incurred outside of the network.
Pros
- Widespread branch and ATM access
- No monthly service fee or minimum balance requirement
- Mobile banking apps available
- Overdraft protection options to prevent costly fees
- Unlimited refunds on out-of-network ATM fees
Cons
- Service fees on the higher end
- Doesn’t earn interest
PNC Bank Virtual Wallet Account
PNC Bank’s Virtual Wallet Account is one of the most popular checking accounts in the U.S and offers no monthly service fees and no minimum balance requirements. Customers can easily manage their money with convenient online banking, bill pay, mobile deposit, and text alerts.
The account also offers free ATM access for customers with PNC Bank cards, as well as unlimited refunds on out-of-network ATM fees if you don’t have a card from another network. In addition, customers can take advantage of other added benefits such as purchase protection and a rewards program.
Pros
- No monthly service fee or minimum balance requirement
- Convenient online banking, bill pay and mobile deposit features
- Earn $400 when you establish total qualifying direct deposit
- The Low Cash Mode, an innovative, game-changing tool helps users avoid overdraft fees
- Free debit card
- Interest-yielding account
- Free incoming domestic wire transfers
Cons
- Only available in 20 states
- Higher than average wire transfer fees.
Heritage Bank eCentive checking account
If you’re looking for a no-fee checking account with no minimum balance requirement, then the Heritage Bank eCentive checking account is an excellent choice. The bank offers free online banking and bill pay services, as well as mobile deposit and text alert features.
The account also offers free ATM access for customers with Heritage Bank cards, as well as unlimited refunds on out-of-network ATM fees if you don’t have a card from another network. In addition, customers can take advantage of other added benefits such as purchase protection and rewards program.
Pros
- It offers a very competitive APY on its eCentive checking account.
- Free online banking and bill pay services
- Unlimited refunds on out-of-network ATM fees
- Users qualify for $25 a month in ATM fee refunds and foreign currency conversion fee refunds when using the Heritage Bank-issued debit card.
Cons
- There is a $10 fee for replacing lost or damaged Heritage Bank-issued debit card.
- You pay a $30 fee if you close your eCentive checking account within six months of the opening date
TD Bank Beyond Checking Account
The TD Bank Beyond Checking account is a great option for customers looking for a no-fee checking account with no minimum balance requirement. The bank offers free online banking, mobile banking, and bill pay services as well as overdraft protection options to help you manage your money more efficiently.
The account also offers free ATM access for customers with TD Bank cards, as well as unlimited refunds on out-of-network ATM fees if you don’t have a card from another network. In addition, customers can take advantage of other added benefits such as purchase protection and rewards program.
Pros
- No monthly service fee or minimum balance requirement
- Excellent relationship benefits
- Wide variety of products
- Branch locations in some states
- Great customer service
Cons
- Most APYs aren’t that high
- Some accounts have high balance requirements to waive fees
Citibank Access Account
The Citibank Access Account is one of the best checking accounts for customers who want to avoid monthly service fees and minimum balance requirements. The bank offers free online banking, bill pay, mobile deposit and text alerts as well as overdraft protection options to help you manage your money more efficiently.
The account also offers free ATM access up to 6 withdrawals per month for customers with Citibank cards, as well as unlimited refunds on out-of-network ATM fees if you don’t have a card from another network. In addition, customers can take advantage of other added benefits such as purchase protection and rewards program.
Pros
- No monthly service fee or minimum balance requirement
- Free online banking, bill pay and mobile deposit features
- Overdraft protection options to prevent costly fees
- Unlimited refunds on out-of-network ATM fees
- Purchase protection and rewards program
Cons
- Doesn’t pay interest
- No third-party ATM fee reimbursement
BMO Harris Bank Smart Advantage™ Account
The BMO Harris Bank Smart Advantage™ Account is an excellent choice for customers who want to avoid monthly service fees and minimum balance requirements. The bank offers free online banking, bill pay, mobile deposit and text alerts as well as overdraft protection options to help you manage your money more efficiently.
The account also offers free ATM access up to 6 withdrawals per month for customers with BMO Harris Bank cards, as well as unlimited refunds on out-of-network ATM fees if you don’t have a card from another network. In addition, customers can take advantage of other added benefits such as purchase protection and rewards program.
Pros
- Network of more than 40,000 free ATMs.
- Free online banking, bill pay and mobile deposit features
- Good digital tools to help manage your finances
- Frequent cash bonuses for new customers
- Free checking option with no balance requirements
Cons
- Low savings rate
- Steep overdraft fees
Axos Bank Rewards Checking Account
The Axos Bank Rewards Checking Account is an excellent choice for customers who want to earn interest on their checking account. The bank offers free online banking, bill pay, mobile deposit and text alerts as well as overdraft protection options to help you manage your money more efficiently.
The account also offers free ATM access up to 6 withdrawals per month for customers with BMO Harris Bank cards, as well as unlimited refunds on out-of-network ATM fees if you don’t have a card from another network. In addition, customers can take advantage of other added benefits such as purchase protection and rewards program.
Pros
- Interest earned on checking account balance
- Free online banking, bill pay and mobile deposit features
- Overdraft protection options to prevent costly fees
- Unlimited refunds on out-of-network ATM fees
- Purchase protection and rewards program
Cons
- A purely digital bank with no physical locations
- Strict monthly requirements to earn the highest APYs
Conclusion
Finding the best checking account that fits your needs can be a challenging task. However, by researching and comparing the features of these 10 best checking accounts of 2022, you can easily determine which one is right for you. Each of these accounts offers great features such as no monthly service fees, free online banking and bill pay, mobile deposit features and overdraft protection options. In addition, some also offer interest on balances as well as purchase protection and rewards program. So make sure to take time to research each option before making your decision.
