We would all appreciate the possibility of withdrawing and depositing money from and into our checking account without getting buried in fees. However, there are so many banks that offer checking accounts nowadays that it can be quite difficult to decide on the best one. Do you need a minimum deposit? What is the annual percentage yield? Today, we are going to provide you with 4 of the best checking accounts that you can find.
4 Best Checking Accounts to Keep in Mind
1. Capital One 360 Checking
The Capital One 360 checking account is one of the most affordable options out there, because you don’t need a minimum deposit. Moreover, there are no minimum balance requirements and no fees. Their annual percentage yield is of 0.20%, which is quite high compared to what other banks offer. If you were considering ordering checks, you should know that the first batch is free. You can also use their mobile app for free and pay bills online without having to pay any extra fees.
2. Charles Schwab Bank High Yield Investor Checking
Another checking account that comes with no minimum deposit or maintenance fees, this one also includes no balance requirements. However, the annual percentage yield is much lower than in the case of the previous example, namely 0.06%. If you are thinking that the pros don’t outweigh the cons, let us change your mind by telling you that if you open a checking account here, you can link it for free to a Schwab One brokerage account that has no minimum deposit.
3. Ally Bank Online Interest Checking
The annual percentage yield with this account is of 0.10%. This is higher than the Charles Schwab one, but still lower than others. However, you get some great benefits such as no minimum deposit, no maintenance fees, standard checks, free mobile banking, the possibility of paying bills online, sending money to others using Popmoney, and using the Allpoint ATM without paying a fee. Moreover, if you use a different ATM, they will reimburse you a maximum of $10 for each statement cycle.
4. EverBank Yield Pledge Checking
If none of the checking accounts we’ve talked about up until now have offered an optimal annual percentage yield for you, then you might want to take a look at this one coming from EverBank. The APY is an impressive 0.95% in the first year. Even if it decreases considerably after this period, you still get 0.30%, which is definitely a great option. However, you should keep in mind that you need a minimum deposit of $1,500. Moreover, you will have to pay a nonsufficient funds fee of $30, which is quite high compared to other checking accounts. The rest of the features are similar to most options we’ve already discussed. You get free mobile banking, no ATM fees, the possibility of transferring money to other people, and so on.
Any of these 4 best checking accounts that we talked about today are worth considering if you are thinking about changing your current provider. Find the one that best suits your needs!
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