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.
 • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities • With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs. • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device. • JPMorgan Chase Bank, N.A. Member FDIC • Open your account online now • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com. • Chase Overdraft AssistSM – no overdraft fees if you’re overdrawn by $50 or less at the end of the business day or if you’re overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day* *With Chase Overdraft AssistSM, we won’t charge an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts. |
 • Earn $300 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities. • Multiple ways to waive the $15 Monthly Service Fee, including maintaining a minimum daily balance or purchases on your Chase Ink® Business credit card. • Full-service business banking. Convenient access to all your business banking services in one place -- lending, checking, credit card and payment solutions. • Your choice of payment types. Choose from a full range of options for accepting payments and making deposits that include Zelle®, Online Bill Pay, wire transfers and ACH payments. • Convenient access to payment processing. Process all major debit and credit cards with QuickAccept®. It's a built-in feature with your Business Complete Checking account. • Get support you can rely on. Get access to our customer support team, plus a wide array of solutions that carter to every stage of your business • Full-featured banking online and on-the-go. Manage your business' finances on your terms with the latest online and mobile banking technology. • Associate Debit and Employee Deposit Cards available upon request |
 • Earn $300 when you receive direct deposits totaling $2,500 or more within 60 days • Get more from your checking account. With TD Beyond Checking with Payback Plus, you'll earn interest and get reimbursed for non-TD ATM transactions, Overdraft Payback and more. • Monthly maintenance fee waived when you receive monthly direct deposits of $5,000 or more within a statement cycle, or maintain a minimum daily balance of $2,500, or a combined balance of $25,000 across eligible TD accounts. • TD ATM fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance • Get overdraft fees automatically reversed up to two times a year. • Get your money where it needs to go —fast— with Rush Bill Payments, Send Money with Zelle®, incoming wires and a reimbursement for one outgoing wire (domestic or international) per statement cycle. • TD checking accounts come with an instant-issue debit card - and, you can pay with confidence with contactless technology Visa Zero Liability protection and 24/7 fraud monitoring. • Monthly maintenance fee waived on one TD Simple CheckingSM account and any Savings accounts. Plus, get free standard check orders, money orders, official bank checks and stop payments. |
 With the TD Convenience CheckingSM Account: • Earn $200 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, stolen, or damaged debit card by visiting a TD Bank location near you • Access accounts via Online Banking with Bill Pay, Online Statements, Send Money with Zelle and TD Bank Mobile Deposit. Plus, get 24/7 cash access at TD ATMs in the U.S. and Canada and around-the-clock Live Customer Service. • TD checking accounts come with an instant-issue debit card - and, you can pay with confidence with contactless technology Visa Zero Liability protection and 24/7 fraud monitoring. • Get a 0.25% discount on TD Bank Home Equity and Personal Loans. |
 • Open a Huntington Unlimited Plus Business Checking Account • Earn $1,000 bonus when you open a Huntington Unlimited Plus Business Checking account and make total deposits of at least $20,000 within 30 days of account opening. • Maintain minimum daily balance of $20,000 for 60 days after meeting deposit requirement. • The $1,000 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. |
 • 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®. |
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
 Open a Discover® Online Savings Account for all these features: • Earn high interest rate of 3.90% 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 • See advertiser website for full details |
 With the American Express® High Yield Savings Account: • Earn 3.90% APY as of 11/29/24 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. • 24/7 Account Access |
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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!
