How to Find the Best Checking & Savings Account

Most of our financial network map revolves around our primary bank accounts – a checking or savings account at a bank.

A checking account is where your primary banking relationship is most likely going to be. Its the bank or credit union we often interact with from depositing our paychecks, paying bills to withdrawing cash.

While a savings account is where your money sits when you don’t use it for checking as well as placing your short or long term savings. It will earn a little bit more interest in comparison to your checking account.

We hope that this guide will help you on finding the best checking and savings account for you to use!

How to Find the Best Checking & Savings Account

When it comes to your finances , the small things can add up like how and where you do your banking. But the big question is where do you start? We’ve listed some factors to consider when looking for the right checking or savings account for you.

• Ask for schedule of fees. If you don’t understand any information about the fees provided or questions in general, ask a customer service rep for help.
• Check off any requirements to get the account benefits. It maybe towards a minimum balance, a minimum number of debit card transactions each month, or that you must use direct deposit and online bill pay at least once a month.
• See if you want overdraft protection on your checking accounts. This service allows your debit card to work even if you have insufficient funds in your account, but at a high price, up to $39 per transaction. This will help you save hundreds if you tend to let your bank balance get low.
• Use different accounts for different goals. Using two or more bank accounts to segregate your money can help managing money easier because you’ll always know what money is available to spend and what money is set aside.
• Certificate of Deposit Rates & Options. They offer better interest rate on your savings if you’re willing to commit your money for a set term, since withdrawing it early will require paring a penalty and forfeiting some or all of your interest.
• Sign-up bonuses. Nowadays, bank give out free cash. We have a list of the best bank sign-up bonuses with the minimum starting at $100.

Checking Account

This is where your primary banking relationship is most likely going to be with. You have to ask  yourself whether you want this account to be:

• Convenient – where you can easily get cash and make deposits at either branches or via free ATMS.
•  Free – does the bank or credit union offer free checking without a minimum balance? Or does the bank charge you to use other banks’ ATMs?

As you’re searching for a free checking account, you might have to find a way to compromise: the banks that are most convenient may be the ones with fees. Smaller banks and credit unions may have fewer locations, but they offer more rewarding accounts.

Find the Best Rewards Checking Accounts

If you’re interested on nationwide branches, credit unions are a good alternative to big banks. Credit Unions work just like banks since they take  deposits and make loans, but the difference is how they are nonprofits and are owned by their members. Credit unions can offer members better interest rates and perks like more free ATMS.

You can also checkout online interest-bearing checking accounts, these checking or “bill pay” account pay interest on balances. However the trade off is that you must do everything online or by phone since they are no branches to walk into.

CHASE BANKTD BANKHUNTINGTON BANKHSBC

• Enjoy a $200 bonus when you open a new Chase Total Checking® account and set up direct deposit • Access to 16,000 Chase ATMs and nearly 4,900 branches • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device. • Open your account online now. • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com. Apply Now at Chase

• Get $300 as a new Chase business checking customer, when you open a new eligible Chase business checking account with qualifying activities • Access to 16,000 ATMs and nearly 4,900 Chase branches • Chase has business specialists at your local branch to help with your business needs • Account Alerts are a great way to stay on top of your account's activity and enhance security • Unlimited electronic deposits at no charge, including Chase QuickDepositSM, ACH and ATM Get Coupon at Chase

• Open a TD Beyond Checking account online and earn $300 when you receive direct deposits of $2,500 or more within 60 days of opening your account. • With the TD Beyond Checking with Payback Plus, you'll earn interest and get reimbursed for fees like ATM transactions, overdrafts, Rush Bill Pay and outgoing wires – on top of all the perks you'd expect from everyday checking. • Pay no monthly maintenance fee with monthly direct deposits of $5,000 or more, a minimum daily balance of $2,500, or a combined balance of $25,000 across your eligible TD accounts. • TD Beyond Checking Review Apply Now at TD Bank

With the TD Convenience CheckingSM Account: • Earn $150 when you receive direct deposits totaling $500 or more within 60 days • Low minimum daily balance of $100 waives the $15 monthly fee. • Students and young adults ages 17 through 23 get additional perks like no minimum balance requirements and no monthly maintenance fee. • Instantly replace a lost or worn debit card by visiting a TD Bank location near you • Access accounts via Online Banking with Bill Pay, Online Statements and TD Bank Mobile Deposit, with 24/7 cash access at TD ATMs in the U.S. and Canada – plus 24/7 Live Customer Service • Get a 0.25% discount on TD Bank Home Equity and Personal Loans Apply Now at TD Bank

Open your Asterisk-Free Checking® account today and enjoy: • $150 bonus by making total deposits of at least $1,000 within 60 days of account opening. • Free to open and free to maintain with no monthly maintenance fees • 24-Hour Grace Overdraft Relief • All Day DepositSM • Enjoy mobile & online banking Apply Now at Huntington

Open your Huntington 5 Checking account today and enjoy: • $200 bonus by making total deposits of at least $1,000 within 60 days of account opening. $200 will be deposited in your Huntington 5 Checking account after all requirements are met. • Earn interest on all balance tiers • 24-Hour Grace Overdraft Relief • Five Non-Huntington ATM withdrawal fees waived per statement • No minimum deposit needed to open • Enjoy mobile & online banking • 10% credit card rewards bonus Apply Now at Huntington

• Open a Huntington Unlimited Plus Business Checking Account • Earn $750 bonus when you open a Huntington Unlimited Plus Business Checking account and make total deposits of at least $20,000 within 60 days of account opening. • The $750 bonus will be deposited into your account after all requirements are met. • Enjoy overdraft protection with no annual fee or deposit-to-deposit overdraft protection with no transfer fee! • Bonus Service. Choose one bonus service such as fraud tools, discounts on payroll services, or Huntington Deposit Scan® • Ideal for businesses with higher checking activity and greater cash flow needs. Apply Now at Huntington

• Open a Huntington Unlimited Business Checking Account • Earn $400 bonus when you open a Huntington Unlimited Business Checking account and make total deposits of at least $5,000 within 60 days of account opening. • The $400 bonus will be deposited into your account after all requirements are met. • Get Overdraft Protection Account with no annual fee, or Deposit-to-Deposit Overdraft Protection with no transfer fee. • Enjoy unlimited transactions. And up to $10,000 in cash or currency deposits monthly in-branch or at an ATM at no charge. • Designed for businesses with higher checking activity and greater cash flow needs. • Bonus service. Choose one bonus service such as fraud tools, discounts on payroll services, or Huntington Deposit Scan®. Apply Now at Huntington

• Open your Huntington Business Checking 100 Account today! • Earn $200 bonus when you open a Huntington Business 100 Checking account and make total deposits of at least $2,000 within 60 days of account opening. • The $200 bonus will be deposited into your account after all requirements are met. • Overdraft Protection Line of Credit available, or Deposit-to-Deposit Overdraft Protection with no transfer fee. • Do business without a minimum checking account balance fee or maintenance fee. • No monthly maintenance fee applies to this account. • Enjoy up to 100 monthly transactions. And deposit up to $5,000 in cash or currency monthly in-branch or at an ATM at no charge. • Ideal for start-ups and small businesses with lower balances and checking activity. • Bonus Service Trial. Free 120-day trial of a fraud tool: Reverse Positive Pay. Apply Now at Huntington

• Get up to $240 with a 3% Cash Bonus Checking Offer when you open a new HSBC Advance checking account and complete the following qualifying activities. • Open your new HSBC Advance checking account online by January 7, 2021; and • Set up Qualifying Direct Deposits into your new HSBC Advance checking account; and then • Enjoy 3% Cash Bonus, up to $240, on Qualifying Direct Deposits up to $40 per month, during the first 6 calendar months after account opening • You will automatically receive the 3% Cash Bonus in your new HSBC Advance checking account approximately eight weeks after completing that month's qualifying activities. Apply Now at HSBC Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

• Get up to $600 with a 3% Cash Bonus Checking Offer when you open a new HSBC Premier checking account and complete the following qualifying activities. • Open your new HSBC Premier checking account online by January 7, 2021; and • Set up Qualifying Direct Deposits into your new HSBC Premier checking account; and then • Enjoy 3% Cash Bonus, up to $600, on Qualifying Direct Deposits up to $100 per month, during the first 6 calendar months after account opening • You will automatically receive the 3% Cash Bonus in your new HSBC Premier checking account approximately eight weeks after completing that month's qualifying activities. Apply Now at HSBC Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

Savings Accounts

You might have realized that keeping your savings the same place as your checking account isn’t the best place since:

• Special online-only banks pay up to ten times more on savings account than local banks.
• If you are keeping your savings alongside your checking account it can be tempting to dip into your savings more often than you should.

You should automatically transfer money into you savings every payday, so after a while you don’t realize that you’re doing it.

Find the Best Savings Account Rates

CIT BANKDISCOVER BANKAMERICAN EXPRESSSIMPLE

With the CIT Bank Savings Builders account: • Earn a top tier, competitive APY on your money—one of the top savings rates in the nation. Earn 0.50% APY on your funds - grow your savings faster. • Build a habit of savings. Pay yourself first. Start with $100 per month and build your habit of savings-—all while getting a top rate. • FDIC Insured Apply Now at CIT Bank

Open a Discover Online Savings Account for all these features: • Earn high interest rate of 0.60% APY • No minimum opening deposit, no minimum balance requirement, and now no fees • Interest on Discover Online Savings Accounts is compounded daily and credited monthly • Manage your account online or with the Discover mobile app • FDIC insurance up to $250,000 Apply Now at Discover See advertiser website for full details

With the American Express® High Yield Savings Account: • Earn 0.60% APY on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly. • Links easily with your current bank accounts. No need to switch banks. • FDIC Insured. Your account is insured to at least $250,000 per depositor. • No monthly fees, no minimum balance. • 24/7 Account Access Apply Now at American Express

Bank, budget, and save with up to 0.60% APY. Simple’s Protected Goals Account is designed to help you save in a separate high-yield checking account. • Earn 0.60% APY on balances $10,000 and above • Earn 0.60% APY on balances $9,999 or less Apply Now at Simple

Bottom Line

We hope that this guide helped you figure out on where to start in terms of finding the best checking or savings account for you to use! If you have any additional or helpful tips for other readers to take note of, please feel free to leave them in the comment section below!

While you’re here on HMB, you can find the best bank promotions here or search through out top choices of checking and savings accounts! You can also read our master bank guide for further assistance!

Chase Coupon Promo Codes $100, $200, $300, $350, $500, $725, $1000, $2000 for October 2020

Huntington Bank Promotions: $150, $200, $400, $500, $750 Checking Bonuses for October 2020

HSBC Bank Promotions: $200, $240, $450, $600, $2,000 Checking Bonuses for October 2020

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