Best High-Yield Checking Account Deals: No Fees, Cash Bonuses and Rewards Spending

Get a deal on your new account with interest earnings, bonuses and cash-back rewards.

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High-yield savings accounts aren’t the only bank accounts with earning potential. The best high-yield checking accounts offer accelerated average percentage yields (APY) over conventional checking accounts and even perks like bonuses and cash-back rewards on spending. The good news is that high-yield checking accounts are becoming more common, especially with the increase of online and mobile banking options.

Best High-Yield Checking Accounts Deals

A great way to earn extra rewards from your bank is by pairing your savings account with a high-interest checking. Rewards checking accounts combine the best features from other bank accounts together in one place. Along with high APY, many checking accounts offer other helpful perks like ATM access, online and mobile account management, and bill pay features.

Here’s a look at the best high-yield checking accounts available today.

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Credit: iStock.com/ filadendron
Note: APYs fluctuate as financial institutions adjust their rates to the market. Always check rates before opening an account. If you’re interested in locking in an APY, consider a certificate of deposit. The CIT Bank No-Penalty CD is a popular option for people who want a steady APY, but also want access to their money without restrictions.

Axos Bank Rewards Checking

Axos Bank offers several checking account options, but Rewards Checking is their best offering for earning high-yield interest. Opening an account requires an initial deposit of $50. Axos Bank Rewards Checking accounts are free from most fees, including monthly maintenance fees, overdraft fees and non-sufficient fund fees. This Axos account comes with a free debit card and unlimited ATM fee reimbursements anywhere in the U.S.

Interest: Up to 1.25% APY
Minimum opening deposit: $50
Minimum balance requirement: $0
ATM Access: Unlimited domestic ATM fee reimbursements
Availability: U.S. Citizens and Legal Residents 18 years of age and older
Promotions: No
Monthly fees: No

Get Started

To earn interest requires meeting specific criteria, which each earn 0.4166% APY, adding up to 1.25% APY if you hit all three monthly requirements:

  • Monthly direct deposits totaling at least $1,000
  • 10 debit card transactions per month
  • Five more debit card transactions (15 total)

Although it doesn’t come with check writing privileges, Axos customers can manage accounts online or through its mobile app, including online bill pay and mobile check deposit features. It’s the perfect everyday bank account for customers on the go who want to earn a little extra savings each month. Read our full review of Axos Bank Rewards Checking account.

Chase Premier Plus Checking (low APY, but $300 bonus)

Chase Premier Plus Checking comes with many benefits similar to other checking accounts on this list but has much higher requirements to waive the costly $25 monthly fee. That includes Chase mobile and online banking, free access to Chase ATMs and local branches, free basic checks and more.

Interest: 0.01% APY
Minimum opening deposit: $25
Minimum balance requirement: At least $15,000 combined in qualifying Chase accounts to waive fees
ATM Access: Over 16,000 Chase ATMs, along with free access to Chase-friendly ATMs
Availability: U.S. Citizens and Legal Residents 18 years of age and older
Promotions: $300 new account bonus offer
Monthly fees: $25 waivable monthly fee

Get Started

With only 0.01% APY earning potential, why would it qualify for a list of the best high-yield checking accounts? Because Chase offers a $300 sign-up bonus to open a Premier Plus Checking account. Like its credit card bonuses, Chase doesn’t mess around. The $300 Chase bonus makes up for the low interest rate.

You’ll need to meet at least one of two requirements to get the $25 monthly fee waived:

  • $15,000 (average daily balance) combined in qualifying linked Chase accounts, or
  • Have a linked Chase mortgage enrolled in automatic payments from your Chase checking account

Read our full review of Chase Premier Plus Checking.

M1 Plus (M1 Brokerage Account Required)

M1 is a money management platform that combines investing and banking. M1Plus is a paid account ($125/year) that gives M1 customers access to an interest-bearing checking account and other perks.

Interest: 1% APY
Minimum opening deposit: $0
Minimum balance requirement: $0
ATM Access: Four ATM fee reimbursements per month
Availability: U.S. Citizens and Legal Residents 18 years of age and older
Promotions: 1% cash back on qualifying debit card purchases, 1.5% rate reduction on M1 Borrow account
Monthly fees: No monthly fees, but $125 annual fee

Get Started

An M1 investment account is required to open an M1 Plus account, as the accounts work seamlessly together. It also earns 1% APY, much higher than the national average. Earning APY on a checking account is nice, but an M1 Plus account comes with other perks customers will love:

  • 1% unlimited cash back on qualifying debit card purchases
  • 2% loans through an M1 Borrow account (a 1.5% rate reduction from what’s offered with a basic M1 account)
  • An extra trade window in the afternoon for customers with at least $25,000 in your investment portfolio

While there is no minimum balance to open an account or earn APY, you need to factor the $125 annual charge into your earning potential to see if it makes sense for you. Because it’s tied to an M1 investment account, it’s not the best checking account to open if a checking account is all you want or need. However, read our in-depth review of M1 Finance to learn more.

Ally Bank Interest Checking Account

As one of the most popular online banks, it’s no surprise that Ally offers a checking account that earns high-yield interest. Interest Checking from Ally Bank earns 0.50% APY for balances of $15,000 or higher and 0.10% APY for balances under $15,000.

Interest: Up to 0.50% APY
Minimum opening deposit: $0
Minimum balance requirement: $0
ATM Access: 43,000+ fee-free Allpoint ATMs across the country
Availability: U.S. Citizens and Legal Residents 18 years of age and older
Promotions: No
Monthly fees: $0

Get Started

There are no monthly fees attached to this checking account, as well as no minimum opening deposit or ongoing balance requirements. The account comes with a debit card and check writing-privileges.

As an online bank, there are no local Ally bank branches, but customers have access to an extensive fee-free ATM network for banking needs. There’s also online and mobile account management available, including online bill pay and mobile check deposits.

While it doesn’t have the highest interest rate among top online banks, its earning potential surpasses the national average, plus you save money by never paying any fees.

Simple Protected Goals Account

Simple is set up differently than most banks. First, it’s a mobile bank, meaning accounts are managed best through the mobile app (although there is online access). You actually get two checking accounts when you sign up for a Simple account — a checking account and a Protected Goals account, which resembles a high-yield savings account.

Interest: Up to 1.20% APY
Minimum opening deposit: $0
Minimum balance requirement: $0
ATM Access: 40,000 fee-free ATMs across the country
Availability: Applicants over 18 years of age with a Social Security number
Promotions: No
Monthly fees: $0

Get Started

A Protected Goals account earns up to 1.20% APY depending on your account balance, but it requires no minimum initial deposit and has no ongoing balance requirement.

Simple customers earn even more if they turn on round-up rules. Any time you make a purchase using your Simple debit card, the transaction is rounded up, and that amount is set aside. Once you reach $5 in rounded-up funds, it’s transferred to your Protected Goals account.

Simple’s mobile app gives customers every tool needed for banking success, including the ability to track expenses, set goals and budget money. The “Safe-to Spend” feature is like a more intuitive version of available balance, factoring in your budget and bills so you know how much you can actually afford to spend. Fans of mobile banking and earning competitive interest should consider Simple for their banking needs.

Radius Bank Rewards Checking

With a Rewards Checking account from Radius Bank, customers can earn money in two ways — interest-earning and cash back rewards. Account balances between $2,500 and $99,999.99 earn 0.10% APY, while higher balances earn 0.15% APY.

Interest: Up to 0.15% APY
Minimum opening deposit: $100
Minimum balance requirement: $0
ATM Access: Over 325,000 fee-free ATMs plus unlimited ATM fee rebates
Availability: U.S. Citizens and Legal Residents 18 years of age and older
Promotions: 1% cash back on select purchases if you meet account qualifications
Monthly fees: $0

Get Started

You can also earn 1% cash back with online and signature-based transactions, but you’ll need to meet account requirements to earn. To qualify, receive $2,500 monthly in direct deposit income or keep an average balance of $2,500 in your Rewards Checking account.

Radius Bank Rewards Checking comes with a debit card and check-writing privileges, with a free first checkbook provided.

There is a $100 initial deposit required to open an account, but no balance requirements after and no monthly maintenance fees to worry about. Customers also have access to over 325,000 free ATMs thanks to partnerships with other ATM networks. If you happen to find an ATM that isn’t free, Rewards Checking comes with unlimited ATM fee reimbursements too.

Consumers Credit Union Free Rewards Checking

Consumers Credit Union offers some of the highest interest rates in the market, regardless of account type.

Interest: Up to 4.09% APY
Minimum opening deposit: $0
Minimum balance requirement: $0
ATM Access: Over 30,000 in-network ATMs plus unlimited ATM fee reimbursements
Availability: U.S. Citizens and Legal Residents 18 years of age and older; requires Consumers Credit Union membership ($5 one-time membership fee)
Promotions: No
Monthly fees: $0

Get Started

You’ll need to meet several requirements to earn those rates, though. There are three rate tiers, each with its own stipulations to earn interest.

2.09% APY

  • Enroll in eDocuments
  • Make at least 12 debit card purchases each month
  • Have $500 or more total in direct deposits, mobile check deposits or ACH credits

3.09% APY

  • Meet 2.09% APY requirements
  • At least $500 monthly spending on CCU credit card

4.09% APY

  • Meet 2.09% APY requirements
  • At least $500 monthly spending on CCU credit card

Customers who don’t meet at least the 2.09% APY requirements only earn 0.01% APY and lose access to unlimited ATM fee refunds. Opening a Rewards Checking account does require being a member of the credit union, but almost anyone can join. There’s a $5 one-time membership fee, but no monthly maintenance fees are attached to this account. CCU also offers online and mobile banking options, which isn’t always a given with credit unions.

Alliant Credit Union High-Interest Checking

Another credit union offering high-yield checking is Alliant Credit Union. Its High-Interest Checking account currently earns 0.25% APY, with minimal requirements.

Interest: 0.25% APY
Minimum opening deposit: $0
Minimum balance requirement: $0
ATM Access: 80,000+ fee-free ATMs across the country plus up to $20/month in ATM fee reimbursements
Availability: Members of Alliant Credit Union
Promotions: No
Monthly fees: $0

Get Started

To earn interest on your account, you’ll need to opt-in for eStatements instead of paper ones, and have at least one electronic deposit to your account each month.

If you don’t qualify to become an Alliant member under its more strict requirements, you can gain membership by opting to support its partner charity, Foster Care to Success, with a $5 membership fee.

Your first box of checks is free with High-Rate Checking, and customers have access to over 80,000 fee-free ATMs across the country, along with up to $20 monthly in fee reimbursements when using out-of-network ATMs.

High-Rate Checking accounts have no monthly maintenance fees and no minimum balance requirements. The account comes with access to online and mobile banking and a Visa debit card too.

First Internet Bank Interest Checking

First Internet Bank was the very first FDIC-insured bank to operate entirely online. Customers can open an Interest Checking account to earn 0.65% APY. Opening an account requires a $100 initial deposit.

Interest: 0.65% APY
Minimum opening deposit: $100
Minimum balance requirement: $500
ATM Access: Access to Visa Plus Alliance ATMs worldwide, plus ATM fee reimbursements up to $10 monthly
Availability: U.S. Citizens and Legal Residents 18 years of age and older
Promotions: No
Monthly fees: $10 waivable fee

Get Started

There is a monthly maintenance fee of $10, but it’s waivable by keeping an average daily balance of at least $500.

Despite not having the notoriety of some of the other banks on this list, First Internet Bank keeps up not only through competitive rates but also through its online and mobile banking options, including its bill pay feature. Interest Checking comes with a free debit card and your first order of checks free. It even covers you up to $10 monthly for ATM fees charged by other banks.

As long as you plan to keep $500 in your checking account, First Internet Bank Interest Checking is an excellent account for earning high-yield interest on a checking account.

FNBO Direct Online Checking Account

FNBO Direct is another online bank that offers high-yield interest-earning through its checking account. The Online Checking Account earns a respectable 0.65% AP, with no monthly service fees. You only need to deposit a dollar to open an account, and you start earning interest on balances of at least one cent.

Interest: 0.65% APY
Minimum opening deposit: $1.00
Minimum balance requirement: $0
ATM Access: Access to over 2 Million fee-free ATMs worldwide
Availability: U.S. Residents 18 years of age and older
Promotions: No
Monthly fees: $0

Get Started

Other perks of this checking account include:

  • PopMoney person-to-person payment system
  • Free incoming wire transfers
  • Free stop payments
  • Digital payment integration with Apple Pay, Samsung Pay and more
  • Account alerts

Online Checking does not come with check-writing privileges but does come with an online bill pay feature. FNBO Direct customers have access to manage accounts online or through its mobile app. An FNBO Direct Online Checking Account also comes with a Visa debit card and a massive ATM network.

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We want to make sure you get the best deal! Our editors strive to ensure that the information in this article is accurate as of the date published, but please keep in mind that offers can change. We encourage you to verify all terms and conditions of any financial product before you apply. Also, please remember this content wasn't provided, reviewed or endorsed by any company mentioned in this article.


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Kevin Payne

Kevin Payne is a personal finance, credit card, and travel writer. He is the family travel and budget expert behind FamilyMoneyAdventure.com. Kevin lives in Cleveland, Ohio, with his wife and four kids. His work has appeared on several websites, including FinanceBuzz, Credit Karma, Millennial Money, Club Thrifty, Student Loan Planner and Slickdeals.

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