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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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Alliant High-Interest CheckingUp to 0.25%
Ally Interest CheckingUp to 0.25%
Axos Rewards CheckingUp to 1.25%
CIT eChecking0.10% – 0.25%
Consumers Credit Union Rewards CheckingUp to 4.09%
First Internet Bank Interest CheckingUp to 0.30%
FNBO Direct Online Checking0.15%
M1 Plus1.30%
Nationwide Advantage CheckingUp to 0.90%
Nationwide Interest CheckingUp to 0.10%
Radius Bank Rewards CheckingUp to 0.15%
Slickdeals updates average percentage yields (APY) periodically. The rates in this article are accurate as of July 2022.

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.

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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.

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 logo
Credit: Slickdeals

Axos Bank offers several checking account options, but Rewards Checking is their best high APY offering for earning high-yield interest rate. 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
Monthly fees:No

To earn the interest rate requires meeting specific criteria, which each earn an APY, adding up to 1.25% APY when you hit all the monthly requirements:

To earn that maximum APY on the account, though, there are five requirements you need to satisfy.

  • Receive monthly direct deposits totaling $1,500 or more: 0.40%
  • Use your Axos Visa® Debit Card for a total of 10 transactions per month (min $3 per transaction) or sign up for Account Aggregation/Personal Finance Manager (PFM) in online banking: 0.30% APY
  • Maintain an average daily balance of $2,500 per month in an Axos Self Directed Trading Invest Account: 0.20%
  • Maintain an average daily balance of $2,500 per month in an Axos Managed Portfolios Invest Account: 0.20% APY
  • Use your Rewards Checking account to make your full monthly Axos consumer loan payment: 0.15% APY

The monthly direct deposit requirement must be met to be eligible to earn any interest during the statement cycle, regardless of whether the other interest-earning requirements are met.

For each of the other tiers you satisfy, you’ll earn an APY consistent with the schedule above on your balance for the month. This means you’ll need to do some legwork to make sure you qualify for the full APY each month. However, if you regularly use a debit card as your primary payment method and you can easily meet the direct deposit requirement with your paychecks, you may not have to keep track.

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.

Nationwide Advantage Checking

Nationwide logo
Credit: Slickdeals

If you’re looking for the convenience of online banking and top-of-the-market, high APY interest rates, then you should know about Nationwide Advantage Checking. While not technically a bank, Nationwide’s banking services are powered by Axos Bank (Member FDIC). By partnering with one of the top online banks, Nationwide can offer its existing customers and the general public access to the very best online and mobile banking services. All Nationwide deposit accounts are FDIC insured up to the legal limits through its partnership with Axos Bank.

Interest:Up to 0.90% APY
Minimum opening deposit:$50
Minimum balance requirement:$0
ATM Access:80,000 ATMs nationwide
Availability:U.S. Citizens and Legal Residents 18 years of age and older
Monthly fees:No

Like Axos Rewards Checking, Nationwide Advantage Checking requires a few actions to be taken each month to qualify for the maximum APY earning.

  • Direct deposits totaling $1,000 or higher each month (excluding intra-bank transfers) = 0.45% APY
  • Ten or more $3+ point-of-sale transactions per month with your Advantage Checking Visa debit card = 0.45% APY

When you meet both of these requirements, you are eligible to earn the full 0.90% APY on your checking account balance.

Nationwide is an online-only account, which means that accountholders access their accounts through a secure website and mobile app. The digital banking toolbox offers free mobile deposits, automated online bill pay, mobile banking and security features like two-step authentication and SSL encryption.

Nationwide Interest Checking

Nationwide logo
Credit: Slickdeals

Nationwide Interest Checking is a solid deposit account with easy-to-understand perks. Not only does the account give you the opportunity to earn interest on your checking account balance, it also features no monthly maintenance fee. The bank will reimburse you for up to $30 per month in domestic ATM fees, making it easy and often free to access your funds whenever you need them.

Interest:Up to 0.10% APY
Minimum opening deposit:$50
Minimum balance requirement:$0
ATM Access:80,000 ATMs nationwide
Availability:U.S. Citizens and Legal Residents 18 years of age and older
Monthly fees:No

As the name suggests, Nationwide Interest Checking is an interest-bearing checking account. So, you have an opportunity to receive interest off the funds you deposit into your account.

The annual percentage yield, or APY, you can earn from your account balance can vary based on a tier system, but currently there is only one APY available.

  • $0-$2,499.99 = 0.10% APY
  • $2,500-$9,999.99 = 0.10% APY
  • $10,000-$24,999.99 = 0.10% APY
  • >$25,000 = 0.10% APY

Another notable perk that the Nationwide Interest Checking account offers is the lack of a monthly fee. You don’t have to jump through hoops to avoid this cost either, like you might have to with another financial institution.

There is no minimum balance requirement, nor any other actions you need to take to qualify for this feature. The checking account simply has no maintenance fees for every single customer. Read our full review of Nationwide Interest Checking.

CIT Bank eChecking

CIT Bank eChecking
Credit: Slickdeals

CIT Bank eChecking is the online bank’s premier high-interest checking account. Accountholders earn 0.25% APY on balances of $25,000 or more and a generous 0.10% APY on balances under $25,000.

Interest:0.10%-0.25% APY
Minimum opening deposit:$100
Minimum balance requirement:$0
ATM Access:No in-network ATM fees. Plus, up to $30 in other bank’s ATM fees reimbursed per month.
Availability:U.S. Citizens and Legal Residents 18 years of age and older
Monthly fees:No

eChecking with CIT Bank is mostly fee-free checking. The interest-bearing account charges no monthly maintenance fees and no in-network ATM fees. CIT will even reimburse up to $30 per statement cycle on other bank’s ATM fees. The mobile app allows you to deposit checks, make unlimited withdrawals and disbursements, as well as transfer pay and purchase using third-party service like Zelle, Bill Pay, Samsung Pay and Apple Pay.

The high-yield checking account does not use paper checks, but it does provide a free debit card with EMV technology. CIT Bank is a member FDIC, which means your deposit accounts are insured up to $250,000 per depositor, for each account ownership category.

M1 Plus (M1 Brokerage Account Required)

M+ finance logo
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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:1.30% 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

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

Ally Bank logo
Credit: Slickdeals

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 0.25% APY for balances of $15,000 or higher and 0.10% APY for balances under $15,000.

Interest:Up to 0.25% 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
Monthly fees:$0

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.

Radius Bank Rewards Checking

Radius Bank logo
Credit: Slickdeals

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

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 logo
Credit: Slickdeals

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)
Monthly fees:$0

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 $1,000 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. It’s also worth noting that the increased APY rates only apply on balances of up to $10,000; if you’re looking to deposit considerably more than that, you’d be better off looking elsewhere.

Alliant Credit Union High-Interest Checking

alliant logo
Credit: Slickdeals

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
Monthly fees:$0

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 logo
Credit: Slickdeals

First Internet Bank was the very first FDIC-insured bank to operate entirely online. Customers can open an Interest Checking account to earn 0.30% APY. Opening an account requires a $100 initial deposit.

Interest:0.30% 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
Monthly fees:$10 waivable fee

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 logo
Credit: Slickdeals

FNBO Direct is another online bank that offers high-yield interest-earning through its checking account. The Online Checking Account earns a respectable 0.15% APY, 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:0.15% 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
Monthly fees:$0

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.

Chase Premier Plus Checking

Chase logo
Credit: Slickdeals

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. Read our full review of Chase Premier Plus Checking.

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
Monthly fees:$25 with ways to waive

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

High-Yield Checking FAQs

What Is a High-Interest Checking Account?

A high-interest checking account is a checking account that earns high-yield interest. It operates just like a standard checking account with that added perk of earning interest on your account balance. Unlike a high-yield savings account, high-interest checking accounts aren’t strapped by Reg D transaction limits and often come with a free debit card and ATM access.

How Does a High-Interest Checking Account Work?

A high-interest checking account works just like a traditional checking account from your local bank. It’s meant to be used for everyday banking with the added benefit of earning interest on whatever balance you keep.

How Does APY Work?

Annual percentage yield, or APY, is the total amount of interest you would earn annually if you made no additional deposits or withdrawals over the year. APY takes into consideration the interest rate and the number of compounding periods yearly. Each compounding period, you earn interest on the principal balance of your account and your account earnings.

Should I Have More Than One Checking Account?

There’s no limit to the number of checking accounts you can open. Whether you have one or multiple checking accounts is a matter of preference and depends on your banking needs. You might want more than one account if you plan to keep large amounts of money in your account and want to stay within FDIC insurance limits.

It’s also a good idea if you want to keep your spending organized with certain bank transactions separate from others. Perhaps you like the idea of having an account with an online bank and at a traditional brick-and-mortar bank. Opening a checking account with both types of banks would make sense in this instance.

Should I Use Both a High-Interest Checking Account and a High-Interest Savings Account?

There’s no rule that you have to use a high-interest checking account and a high-yield savings account. There are advantages to having both accounts, though. With both accounts open, you will earn a competitive rate on your savings and everyday spending balance. Also, you can earn interest on all of your money while still keeping funds set aside for specific savings goals separate.

How Do I Close an Old Checking Account?

Before closing an old checking account, you want to make sure that all of your outstanding transactions clear. This will help you avoid any overdraft charges or have a payment fail to go through. You also want to have another checking account open and transfer any automatic transactions to the new account. Once you’re positive every transaction is accounted for, contact your bank to close the account.

You may also be able to close your account online. Check with your bank on any specific steps they require when closing an account. Once the account is closed, destroy any leftover checks and debit cards associated with the account. Keep any records of the account in case you will need them later.

How Do I Earn a Checking Account Bonus?

Some banks offer checking account bonuses to entice people to open new accounts with the bank. Bank bonuses often require opening an account and then meeting specific offer criteria like setting up direct deposits or keeping a certain balance for a period of time. If you meet the offer criteria, the bank adds the bonus to your account, usually within the following one to two statement periods.

The bank may require you to keep your account open for a specific amount of time, or else they can withdraw the bonus amount from your account at closing.

Common High-Yield Checking Account Terms

Here are some common saving terms related to high-yield checking accounts you should know.

Minimum balance

The minimum account balance is the lowest balance you must maintain in a bank account.  The bank sets the minimum balance. Failing to keep the minimum balance can result in paying monthly service fees.

Minimum deposit

The minimum deposit is the lowest deposit amount needed to open a new account at a bank or other financial institution. Banks set minimum deposit requirements for each account. Minimum deposits can range from $0 to thousands of dollars.


The Federal Deposit Insurance Corporation (FDIC) is a federal agency that insures deposits made at banks within the U.S. In most instances, the FDIC generally covers up to $250,000 per account holder per institution.


The National Credit Union Administration (NCUA) is the regulating body for all federal and most state-chartered credit unions in the U.S. They perform a similar role as FDIC except for credit unions. The NCUA insures deposits at qualifying credit unions up to $250,000.


An e-statement is an electronic copy of a bank statement. Banks issue statements each statement period that contains information about the account, including beginning and ending balances and any transactions made during the period. Many banks have switched to sending customers e-statements instead of paper statements or offer the choice. Some banks now charge a fee to receive a paper statement.

Mobile Deposit

A Mobile deposit is a check deposit performed digitally through a bank’s mobile app or online account. Customers use their mobile phones to take photos of each side of the check and upload them to the app and the check information. Mobile deposits have become a popular feature for online and traditional banks to offer their customers.

Surcharge Fees

Surcharge fees are fees charged by banks for ATM withdrawals. ATM surcharges are charges directly at the ATM and withdrawn from your account by the bank. Not all banks charge ATM fees, and some only charge non-customers a fee for usage.

Service Fees

Service fees, sometimes referred to as maintenance fees, are fees charged by banks to maintain a bank account. Service fees are typically paid monthly and are often waived by meeting specific bank criteria, like setting up direct deposit or meeting minimum balance requirements.

Compounding Interest

Compound interest is the interest earned on an account’s principal balance and interest that has already accrued on the account. Interest typically compounds daily or monthly and is added to your bank account balance every compounding period.


There’s no shortage of interest-earning checking accounts. You can get one from one of the big banks like Chase, Capital One and Wells Fargo, online-only banks and your local credit unions.

We made our choices for the best high-yield checking accounts by focusing on a few different factors.

For example, most people want accounts that earn a high interest rate, but with uncomplicated eligibility requirements.  We also focused on accounts that offer free transactions, good online banking options, high transaction limits, no or low minimum balance requirements and more.

While we work hard on our research, we do not always provide a complete listing of all available offers from credit-card companies and banks. And because offers can change, we cannot guarantee that our information will always be up to date, so we encourage you to verify all the terms and conditions of any financial product before you apply.

Ben Luthi
Ben Luthi
Ben Luthi is a personal finance and travel writer and credit card expert. He has a degree in finance from Brigham Young University and worked in financial planning, banking and auto finance before writing full-time for NerdWallet and Student Loan Hero. Ben is now a full-time freelance writer and enjoys traveling and spending time with his two kids. His work has appeared in several publications, including U.S. News & World Report, USA Today, Money, Success and Slickdeals.

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