The Best Checking Accounts for 2019
One of the most important choices an individual will make is where to bank and subsequently which checking account is the right one. A checking account is where one can deposit and withdraw money without limits, providing you have the money in the account to withdraw. They typically have low or zero interest rates, but they also have little to no fees. An individual needs a checking account to acquire a loan and can use it for automated bill paying. There are many from which to choose, joint accounts, and business accounts. Accounts vary in what they offer the account holder, such as rewards, no ATM fees, and other perks. Continue reading to find out more about some excellent checking accounts.
Charles Schwab Bank isn't the first bank that most individual's think of when searching for a checking account but that shouldn't stop a customer from looking at their offerings. Typically known as an investment firm, the bank offers online banking with low fees and no minimum balances. It also comes with free bill pay, free transfers to other Charles Schwab accounts and other banks, free checks, and a free debit card. There is no charge for transactions when using the debit card overseas. The biggest draw by far is no fee access to any ATM worldwide. In addition, Charles Schwab reimburses customers for any charges another bank's ATM charged for access. A high yield investor checking account is available which gives the customer a 0.35 percent APY on the checking account balance. All deposits are FDIC insured. One thing to be aware of is the Charles Schwab account doesn't allow for depositing cash.
Ally Bank offers one of the top online interest checking accounts. A customer has no fee access to Allpoint ATMs, as well as a maximum of $10 reimbursed per statement for any fees incurred by using other bank's ATMs. Ally Bank has practically no fees for what is considered regular activity. They even allow providing cashier's checks without a charge, which is rare. Ally believes in excellent customer service 24 hours, seven days a week and provides phone support where customers can connect with live advisors. The account yields 0.10% APY when the daily balance is less than $15,000, and 0.60% when the daily balance is $15,000 or higher. Ally allows customers to use Zelle to transfer money, or receive money from, friends with a quick text or email. Ally Bank does not allow for depositing cash with the online-only account.
Capital One 360 offers innovative tools and features. This account is fee free and the first checkbook is free. There are no minimums and interest accrues regardless of the balance. The interest for the Capital One 360 account is 0.20% for accounts with a balance of $0 to $49,999.99, 0.75% interest for accounts with a balance of $50,000 to $99,999.99, and 1.00% for a balance of $100,000. Checks can be deposited from the customer's phone, as well as online bill pay with automatic payment as an option. Free ATM use at any Capital One or Allpoint ATM. Capital One 360 has overdraft options available.
Be sure to investigate the checking accounts above before deciding which checking account to open. Look for the bank that gives the best rewards.