Best Checking Accounts of February 2025

A checking account is a type of bank account designed for day-to-day transactions, such as making payments and transferring money. Finding the right checking account to meet your financial needs can help you easily manage your funds. Read on for your guide to the best checking accounts right now.

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Best checking accounts of February 2025

Location
Deposit Amount
Filters
Institution
APY
Service Charge
Min. to Earn
Min. Deposit
Central Credit Union Of Illinois
NCUA Insured
Checking Plus Account
4.3 Our Rating
5.50%
$1k
View
Central Credit Union Of Illinois
Checking Plus Account
View
4.3 Our Rating NCUA Insured
APY 5.50%
Service Charge
Minimum to Earn $1k
Minimum Deposit
Sound Federal Credit Union
NCUA Insured
Unique Value Checking
4.2 Our Rating
5.13%
$0
$0
View
Sound Federal Credit Union
Unique Value Checking
View
4.2 Our Rating NCUA Insured
APY 5.13%
Service Charge $0
Minimum to Earn $0
Minimum Deposit
Together Credit Union (MO)
NCUA Insured
Empower Checking
5.0 Our Rating
5.00%
$0
View
Together Credit Union (MO)
Empower Checking
View
5.0 Our Rating NCUA Insured
APY 5.00%
Service Charge
Minimum to Earn $0
Minimum Deposit
Tri Boro Federal Credit Union
NCUA Insured
Share Draft (Checking Plus) Account
3.7 Our Rating
5.00%
$3k
View
Tri Boro Federal Credit Union
Share Draft (Checking Plus) Account
View
3.7 Our Rating NCUA Insured
APY 5.00%
Service Charge
Minimum to Earn $3k
Minimum Deposit
Bodcaw Bank
Member FDIC
Bodcaw Checking
4.9 Our Rating
4.25%
$0
$100
View
Bodcaw Bank
Bodcaw Checking
View
4.9 Our Rating Member FDIC
APY 4.25%
Service Charge
Minimum to Earn $0
Minimum Deposit $100
Primis Bank
Member FDIC
Primis Premium Checking - Online Only
5.0 Our Rating
4.20%
$0
View
Primis Bank
Primis Premium Checking - Online Only
View
5.0 Our Rating Member FDIC
APY 4.20%
Service Charge
Minimum to Earn $0
Minimum Deposit
Community State Bank (Ankeny, IA)
Member FDIC
Edge Checking
5.0 Our Rating
4.00%
$0
View
Community State Bank (Ankeny, IA)
Edge Checking
View
5.0 Our Rating Member FDIC
APY 4.00%
Service Charge
Minimum to Earn $0
Minimum Deposit
Cottonwood Community Federal Credit Union
NCUA Insured
High Yield Share Account
5.0 Our Rating
3.25%
$20k
View
Cottonwood Community Federal Credit Union
High Yield Share Account
View
5.0 Our Rating NCUA Insured
APY 3.25%
Service Charge
Minimum to Earn $20k
Minimum Deposit
1st Colonial Community Bank
Member FDIC
Colonial All In Checking
5.0 Our Rating
3.04%
$0
View
1st Colonial Community Bank
Colonial All In Checking
View
5.0 Our Rating Member FDIC
APY 3.04%
Service Charge
Minimum to Earn $0
Minimum Deposit
Forbright Bank
Member FDIC
Bright Checking
3.4 Our Rating
3.00%
$0
$2.5k
$25
View
Forbright Bank
Bright Checking
View
3.4 Our Rating Member FDIC
APY 3.00%
Service Charge $0
Minimum to Earn $2.5k
Minimum Deposit $25
Security First Bank
Member FDIC
Green Checking Special w/ 20+ transactions
5.0 Our Rating
2.89%
$0
View
Security First Bank
Green Checking Special w/ 20+ transactions
View
5.0 Our Rating Member FDIC
APY 2.89%
Service Charge
Minimum to Earn $0
Minimum Deposit
New Peoples Bank, Inc.
Member FDIC
Chairman's Choice Checking
4.8 Our Rating
2.70%
$0
View
New Peoples Bank, Inc.
Chairman's Choice Checking
View
4.8 Our Rating Member FDIC
APY 2.70%
Service Charge
Minimum to Earn $0
Minimum Deposit
Apple Bank
Member FDIC
Choice Checking
3.2 Our Rating
2.50%
$10
$2.5k
$100
View
Apple Bank
Choice Checking
View
3.2 Our Rating Member FDIC
APY 2.50%
Service Charge $10
Minimum to Earn $2.5k
Minimum Deposit $100
Pima Federal Credit Union
NCUA Insured
CareFREE Plus Checking
4.2 Our Rating
2.50%
$0
$0
View
Pima Federal Credit Union
CareFREE Plus Checking
View
4.2 Our Rating NCUA Insured
APY 2.50%
Service Charge $0
Minimum to Earn $0
Minimum Deposit
VisionBank (MN)
Member FDIC
Premium Checking
5.0 Our Rating
2.47%
$0
View
VisionBank (MN)
Premium Checking
View
5.0 Our Rating Member FDIC
APY 2.47%
Service Charge
Minimum to Earn $0
Minimum Deposit
Next

What is a checking account?

A checking account makes it easy to access your money for day-to-day transactions. Withdraw funds by using a debit card or ATM card, writing a check, or authorizing electronic transfers. Deposit funds via paycheck, cash or account transfer.

Standard features include direct deposit and automatic bill payment. Many banks also integrate digital services to help you manage your money from your web browser or smartphone.

You can even find checking accounts with welcome bonuses, rewards programs and lucrative interest rates.

If you’re ready to open a checking account, you can apply for one at your local bank or credit union either in person or online. But read the fine print before you do, as your account may have minimum balance requirements and fees. Banks also enforce an age limit and request specific identification documents.

What are some common types of checking accounts?

Checking accounts come in many shapes and sizes. While a traditional checking account does the trick for most people, you may want one with specific offerings to fit your needs and goals. These are the types of checking accounts and their typical features:

What to look for in a checking account

The best checking account is like a good car — it has all of the features you need. Generally, you want to find an account based on accessibility as well as your budget and financial goals. Think about the following factors:

As you conduct your search, pay attention to bank account requirements. Banks in most states require signers to be at least 18 years old to apply. Minors can also open an account but must bring a parent or legal guardian to cosign their application.

Pros and cons of checking accounts

Pros

  • Easy access to funds by swiping a debit card or writing a check
  • FDIC and NCUA insurance coverage of up to $250,000 per account holder, per institution, per ownership category
  • Potential to earn interest
  • Digital and mobile banking capabilities
  • Unlimited transactions and transfers

Cons

  • Limited interest earnings compared with CDs and savings accounts
  • Potential for ongoing fees
  • Minimum balance requirements in some cases
  • Risk of overspending and overdraft fees
  • Few rewards opportunities, such as cash back or travel perks

How to open a checking account

Opening a checking account is relatively straightforward. Make sure the process goes smoothly by following these steps:

  1. Research checking accounts. Before choosing an account, compare fees and features to ensure they fit your situation. You may also want to examine different types of checking accounts.
  2. Confirm eligibility requirements. Understand account requirements by calling the bank’s customer service line or reviewing its website. Most banks require applicants to be 18 or older to open an account. Minors can apply with a parent or legal guardian cosigner.
  3. Verify account requirements. Read the fine print for initial and ongoing charges, such as fees and minimum account balances.
  4. Gather documentation. During the application process, banks may require verification documents. You’ll typically need your Social Security number and proof of address, plus cash or check for the initial deposit. Your financial institution may request additional documentation.
  5. Complete an application. Many banks allow you to apply online or at a branch location. The process for opening an account online and at a branch are generally the same, except you’ll upload documents online instead of handing them to a banker in person. The process can take several minutes or longer. Depending on your financial institution, the approval waiting period could take minutes or a couple of days.
  6. Set up digital banking. After you’re approved, download the bank’s mobile app or log in to your online portal to manage your account. You can set up alerts for notifications, bill payments and automatic transfers.

Alternatives to checking accounts

If you can’t or don’t want to use a checking account, consider the following alternatives:

Frequently asked questions

What is overdraft protection?

Overdraft protection prevents the rejection of charges that exceed your available account balance. You connect a backup account, such as a savings or secondary checking account, to cover purchases when your primary account lacks funds. Make sure you understand the various fees and terms that can come with this service before you opt in.

How do I close a checking account?

Your bank may require that you call or visit a local branch to close your account. Make sure you move all automatic transactions to the new checking account.

How many checking accounts can I have?

You can have multiple checking accounts, even with the same bank, but keep in mind that having several accounts can complicate managing your money. If your finances are complex, you may need more than one account. For example, you may need separate checking accounts for business and personal finances if you run a company, or you may want personal and joint accounts if you have a spouse.