Best Banks for Checking Accounts for 2027

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Checking accounts are the most commonly used type of bank account. Your checking account lets you receive paychecks (and other deposits), pay your bills and write checks. But the best checking accounts are free of monthly maintenance fees and can even offer added perks like rewards or earn interest.

To help you find a new checking account that matches your needs, Money researched dozens of leading banks, credit unions and financial platforms in order to identify the best checking accounts of 2027. We evaluated their annual percentage yields (APYs), fees, customer satisfaction and other criteria, including minimum deposit requirements, rewards and more. Here are the best banks for checking accounts for 2027:

• American Express: Best Overall
• Redneck Bank: Best Interest-Bearing Checking Account
• Chase: Best for Branch Access
• Capital One: Best for No-Fee Checking
• Consumers Credit Union: Best Credit Union Checking Account
• SoFi: Best Checking and Savings Combination
• Axos: Best Online Checking Account

*Rates and APYs are subject to change. All information provided here is accurate as of Oct. 9, 2026.

American Express is Money’s choice for the best overall checking account. It offers a checking account that doesn’t charge monthly maintenance fees or have a minimum balance requirement, but it is far from basic.

The checking account is an interest-bearing account, so you can earn an APY of 1% on your balance. You can also earn American Express Membership Rewards on your debit card purchases. You’ll earn one point for every $2 of eligible purchases, and you can redeem your points for deposits to your checking account.

American Express is also receives high marks for its customer service. JD Power ranked American Express second out of 25 checking account providers in its US Direct Banking Satisfaction Study.

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Pros

• Highly rated for customer satisfaction by JD Power
• No monthly fees or minimum balance requirements
• Earn rewards on debit card transactions

Cons

• Limited to existing American Express customers
• No cash deposits
• No physical branches

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Interest-bearing checking accounts are uncommon. Even with the accounts that do earn interest, rates tend to be quite low, so Redneck is a standout choice.

With Redneck Bank’s checking account, you can earn 3.85% APY on balances of up to $15,000 if you complete at least 10 debit card transactions and opt to receive electronic statements. If your balance exceeds $15,000, you’ll earn 0.5% APY.

For three years in a row, Redneck Bank has been Money’s choice for the best online bank for checking accounts. Nationally, the average APY on interest-bearing checking accounts is 0.07%, so the APYs Redneck Bank offers easily exceed that benchmark. Additionally, the bank doesn’t charge monthly account fees and will refund up to $25 of foreign ATM fees per statement cycle.

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Pros

• Among the highest APYs for checking accounts
• No monthly fee on checking accounts
• ATM fee reimbursement

Cons

• $500 minimum deposit
• Low APY on balances over $15,000
• Must meet debit card transaction requirement to earn highest APY

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As a traditional brick-and-mortar financial institution, Chase offers its clients the largest branch network of any bank in the U.S. As of 2026, Chase operates over 5,000 branch locations in addition to its more than 14,000 ATMs.

Its huge network of physical branches and ATMs makes it a good option for those who like to visit bank locations for in-person assistance. That ease of access is useful for those with cash-based jobs.

Chase offers several checking account options. Although it does charge monthly service fees, there are multiple ways to qualify for a fee waiver, such as maintaining a certain balance. Branches operate in 48 states and Washington, D.C., but not in Alaska or Hawaii.

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Pros

• Over 5,000 physical branches
• Most Chase ATMs accept cash deposits
• Checking accounts for kids and teens available

Cons

• All checking accounts have monthly fees
• No interest-bearing checking account options
• No rewards or added benefits

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Capital One’s accounts can help make your banking easier while also lowering your costs. Its checking accounts are basic accounts without monthly fees, minimum balance requirements or overdraft fees.

With a Capital One 360 ​​Checking Account, you can access your pay up two days early when you enroll in direct deposit. Additionally, you can withdraw money from one of the 70,000 fee-free ATMs in its network. Capital One ranked fifth out of 25 banks in JD Power’s U.S. Direct Banking Satisfaction Study.

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Pros

• Highly-rated by JD Power for customer service
• No monthly fees
• No overdraft fees

Cons

• Relatively low APY
• Limited physical presence
• Limited ways to deposit cash

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As not-for-profit organizations, credit unions can often offer low fees alongside higher-than-average APYs on deposit accounts. With Consumers Credit Union, you can choose from its free checking or rewards checking options to reap those benefits.

The free checking account has no monthly maintenance fees, and you can receive your pay up two days early. With your checking rewards account, you can earn between 3% and 5% APY on up to $10,000 if you make at least 12 debit card purchases each month and elect to receive electronic statements.

Unlike many credit unions, Consumers Credit Union membership is available to the general public with a $5 membership fee, and its ATM network has locations in all 50 states.

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Pros

• No monthly fee checking account option
• High APY on rewards checking
• Open membership

Cons

• Small fee to become a member
• Debit card transaction requirements to earn higher APY
• High overdraft fees

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If your priority is to simplify your banking, SoFi offers customers a combination checking and savings account. The financial institution allows you to manage both accounts on one platform, and JD Power ranked SoFi among the top banks for both checking and savings accounts in its U.S. Direct Banking Satisfaction Study.

SoFi checking and savings accounts don’t charge monthly maintenance fees or overdraft fees, and your checking account will earn 0.5% APY. SoFi maintains an ATM network with 55,000 locations, and there is no minimum deposit requirement for either the checking or savings account.

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Pros

• Highly rated in the JD Power U.S. Direct Banking Satisfaction Study
• No monthly fees
• Interest-bearing checking account

Cons

• Must open a combination account
• Limited cash deposit options
• No other bank accounts available

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If you’re comfortable with an online bank without brick-and-mortar branch locations, Axos offers checking account options with no monthly fees or balance requirements. And with Axos ONE , you can earn interest on your checking account balance.

With your account, you can receive your paycheck up to two days sooner when you sign up for direct deposit, and Axos also has checking account options for teens. Plus, the bank has a highly-rated app for Android and iOS devices, which makes it a useful option for those who prefer mobile banking.

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Pros

• Free checking account options
• Early paycheck access
• Teen checking account available

Cons

• High balance requirement to earn interest in Axos ONE checking
• No cash deposits

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FAQs

Do all banks offer interest-bearing checking accounts?

No, not all banks offer interest-bearing checking accounts. Many of the banks that do offer them only provide them on specific, select account tiers rather than across all of their checking products.

What do I need to open a checking account?

While requirements vary by institutions, in order to open a checking account, banks and credit unions often require a government-issued ID, a Social Security number or Individual Taxpayer Identification Number, proof of address (e.g, a utility bill, lease agreement or bank statement), your date of birth and contact information and, in some cases, an initial opening deposit.

Are there checking accounts that don’t charge any monthly fees?

Yes, many banks and credit unions–especially online banks–offer no-fee checking accounts with no monthly maintenance charges or minimum balance requirements. Additionally, traditional banks often waive their monthly service fees if you meet specific criteria, such as setting up direct deposit or maintaining a required daily minimum balance.

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How we chose the best banks for checking accounts for 2027

To determine the list of best checking accounts for 2027, Money researched checking accounts from top banks, credit unions and financial platforms and weighed accounts based on minimum opening deposit requirements, monthly service fees, physical branch and ATM access, customer service ratings, mobile apps and online tools. We prioritized interest-bearing checking accounts and rewards checking accounts that provide extra value to customers.

We considered factors like bank rankings in the JD Power US Direct Banking Satisfaction and Digital Banking Studies, as well as customer reviews on Trustpilot. As a baseline, we compared interest rates on checking accounts to the national average of 0.07% as reported by the FDIC.

AI was not used in the sourcing of Best Banks data, the analysis of that data or the content subsequently produced by Money’s editorial team. You can read our full methodology here .

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