	You might be using an unsupported or outdated browser. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website.

We independently select all products and services. If you click through links we provide, we may earn a commission. Learn More.

Advertiser Disclosure

Best High-Yield Checking Accounts Of 2025

Q: What is FDIC insurance?

The Federal Deposit Insurance Corporation ( FDIC ) offers banking customers protection against bank failure. Specifically, the FDIC insures deposits of up to $250,000 per depositor for each account ownership category per insured bank. Should an insured bank fail and be unable to repay its customers’ deposits, your money will be protected. Similar protection is provided by the National Credit Union Administration ( NCUA ) for deposits in federally chartered and most state-chartered credit unions.

Audited & Verified: Aug 5, 2025, 3:36pm

Emily BatdorfContributor

Read Full Bio

Written By

Emily Batdorf

Emily BatdorfContributor

Read Full Bio

Contributor

Fact Checked by

Rae Hartley BeckFormer Staff Editor

Rae Hartley Beck first started writing about personal finance in 2011 with a regular column in her college newspaper as a staff writer. Since then she has become a leader in the Financial Independence, Retire Early (FIRE) movement and has over 300 by...

Read Full Bio

Fact Checked

Rae Hartley Beck

Fact Checked by

Rae Hartley BeckFormer Staff Editor

Read Full Bio

Former Staff Editor

& 1 other

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

High-yield checking accounts offer debit cards, check-writing privileges and above-average interest rates. The best high-yield checking accounts pay interest rates near or above 5.00%—but you may have to jump through some hoops to maximize your earnings.

Show Summary

Find The Best Accounts

HSBC Premier

Offer

Earn up to $3,000*

Minimum Deposit Requirement

Monthly Maintenance Fee

$50*

*Waivable if minimum requirements are met

On HSBC's Website
Member FDIC

Earn up to $3,000*

$50*

*Waivable if minimum requirements are met

*Offer Details

Global shifts, local impacts. Stay on course with insights from our trusted partners in wealth.

Discover what an HSBC Premier relationship can offer you
– Easily open an account online, from the comfort of your home.
– Manage your international banking needs across different time zones, with 24/7 support.
– Unlock Premier in one country and you can live, work and travel with Premier status around the world with HSBC
– Manage your money safely and easily around the world – from Global Money Transfers to multi-currency needs.
– New to the U.S.? Build your U.S. credit history with one of our credit cards. Or, if you’re buying a new home, you can use your international credit history to apply.

Here’s how the offer works
– Earn one or more cash bonuses¹ when you open an HSBC Premier² checking account by September 30, 2025, AND complete additional qualifying activities:
– $500 Direct Deposit Cash Bonus when you set up recurring monthly direct deposits of $10,000 or more for 3 consecutive months; and/or
– $1,000 New Money Cash Bonus when you deposit or invest³ $100,000 or more and maintain balances for 3 consecutive months; and/or
– $1,500 Mortgage and New Money Cash Bonus when you complete a new HSBC U.S. residential mortgage application by September 30, 2025, with mortgage funding by December 31, 2025, AND deposit or invest $200,000 or more and maintain balances for 3 consecutive months. Customers who qualify for the $1,500 cash bonus will automatically qualify for the $1,000 cash bonus.

Disclosures

1.Q3’25 NEW CUSTOMER CASH OFFER TERMS AND CONDITIONS
Offer valid from July 1, 2025, through and including September 30, 2025 (“Offer Period”). Only New Customers are eligible for this offer.

Definitions
“New Customer” means an individual that does not have a current or past HSBC account or HSBC mortgage loan in the U.S. on file. Individuals who have a current or past HSBC account or HSBC mortgage loan in the U.S. on file are not eligible for this offer.
“Qualifying Direct Deposits” are electronic deposits of regular periodic payments (such as salary, pension, Social Security, or other regular monthly income) deposited through the Automated Clearing House (ACH) network to the New Account (defined below) by your employer or an outside agency (please check with your employer or outside agency to determine if they use the ACH network). Direct deposits that do not qualify include but are not limited to transfers from one account to another, mobile deposits, or deposits made at a Wealth Center or ATM.
“New Money” means deposits or investments not previously held by any member of the HSBC Group in the U.S. New Money is determined at HSBC’s discretion.
“Qualifying Balance” means the total amount of New Money in consumer deposit and/or eligible investment accounts being held by the New Customer (as the first-named individual on the accounts) at a determined timeframe described below. Consumer accounts/assets that are ineligible for Qualifying Balance: insurance products; fixed and variable annuities; 529 College Savings Plans; any retirement accounts, including, but not limited to, IRAs, Keogh, Simple IRAs and 401(k) Plans; UTMA and UGMA accounts; commercial accounts; and revocable or irrevocable trust accounts.

Terms to Qualify for Cash Bonuses:
A New Customer may earn one or more cash bonuses when they Open an HSBC Premier checking account (“New Account”) during the Offer Period AND complete the additional qualifying activities of the respective Cash Bonus Terms.

A New Account must be opened to qualify for any of the following cash bonuses:

$500 Direct Deposit Cash Bonus Terms:
– Begin receiving monthly recurring Qualifying Direct Deposits during the Offer Period totaling $10,000 or more from a third party to an HSBC Premier checking account(s); AND
– Receive monthly recurring Qualifying Direct Deposits totaling $10,000 or more by the second full calendar month after account opening; AND
– Continue receiving the recurring Qualifying Direct Deposits totaling $10,000 or more for a total of 3 full consecutive calendar months.
If all offer requirements are met, the Cash Bonus will be deposited into the New Account within 8 weeks from the date that you complete the qualifying activities.
Example: Premier checking account opened in July must receive recurring Qualifying Direct Deposits totaling at least $10,000 for September (second full calendar month after account opening), October and November, which is a total of 3 consecutive months. $500 cash bonus will be deposited into the New Account by January 31, 2026.

$1,000 New Money Cash Bonus Terms:
– Meet a Qualifying Balance of $100,000 or more of New Money in deposit and/or eligible investment accounts within 20 calendar days of opening the New Account; AND
– Maintain the required Qualifying Balance for 3 full consecutive calendar months following the New Account opening month.
If all offer requirements are met, the Cash Bonus will be deposited into the New Account within 8 weeks from the date that you complete the qualifying activities

$1,500 Mortgage and New Money Cash Bonus Terms
– Complete a new HSBC U.S. residential mortgage loan application during the Offer Period WITH mortgage closure no later than December 31, 2025 (Home Equity products are not included); AND
– Meet a Qualifying Balance of $200,000 or more of New Money in deposit and/or eligible investment accounts within 20 calendar days of opening the New Account; AND
– Maintain the required Qualifying Balance for 3 full consecutive calendar months following the New Account opening month.
If all offer requirements are met, the Cash Bonus will be deposited into the New Account within 8 weeks from the date that you complete the qualifying activities. Customers who qualify for the $1,500 cash bonus will automatically be qualified for the $1,000 New Money Cash Bonus, for a total of $2,500.

Any payments may be subject to tax and will be reported to the Internal Revenue Service as required by applicable law. You may consult a tax advisor for your specific tax implications.

Additional Terms:

– Offer is non-transferable and available only to individuals with a U.S. address who are at least 18 years of age.
– Your New Account must be open and in good standing at time of bonus fulfillment.
– All promotional offers, products, and services offered by HSBC are subject to updates, modifications, and/or termination by HSBC at any time without notice.
– Eligible New Customers who take advantage of this offer cannot receive any other New Consumer Deposit Offers provided by HSBC Bank USA, N.A. New Consumer Deposit Offers are defined as incentives in the form of merchandise and/or cash bonus that are offered to consumers who open an eligible checking account and satisfy qualifying activities.
– If you do not wish to participate in this campaign, please contact us and reference offer name: 3Q25 New Customer Cash Offer. You can Chat with us 24 hours a day, 7 days a week on the HSBC U.S. Mobile Banking App4 or at us.hsbc.com/chatwithus. You can call us at 1-888-662-4722 or outside the U.S. or Canada at 716-841-6866.

2. To qualify for an HSBC Premier relationship, you need to open an HSBC Premier checking account and meet one of the following requirements. A monthly maintenance fee5 of $50 will be incurred if at least one of these requirements is not maintained. Refer to your ‘HSBC Premier Terms and Charges Disclosure’ for full details.

Balances of $100,000 in combined U.S. consumer and qualifying commercial U.S. Dollar deposit and investment accounts; OR
Monthly recurring direct deposits totaling at least $5,000 from a third party to an HSBC Premier checking account(s); OR
Any HSBC U.S. residential mortgage loan serviced by HSBC. Home Equity products, loans that are in foreclosure or bankruptcy, and loans for which servicing rights have been transferred are not included

3. Investment and annuity products are offered by HSBC Securities (USA) Inc. (HSBC Securities), member NYSE/FINRA/SIPC. HSBC Securities is an affiliate of HSBC Bank USA, N.A.

4. Data rate charges from your service provider may apply. HSBC Bank USA, N.A. is not responsible for these charges.

5. You will not be charged a Monthly Maintenance Fee for the calendar month in which you open your account and the following 3 calendar months (together, the “Waiver Period”), whether you meet the qualifying criteria or not. If immediately after the “Waiver Period”, you have not met one of the HSBC Premier qualification criteria and your HSBC Premier checking account is charged 3 consecutive Monthly Maintenance Fees, your account will be closed. In addition, any other checking, savings, credit card and Global Money Accounts that you own will be closed, unless you (or a joint account holder on those accounts) hold a different HSBC Premier checking account.

Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for properties located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.

Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

For clients located outside of the U.S. – Our products and services are not specifically directed at individuals located in the European Union. Our U.S. representatives, as well as our public website, us.hsbc.com, provide products and services governed by U.S. laws and regulations. Our products and services, as well as their specific terms and conditions, are subject to change and may not be available in all territories or to all customers. If your product requires a contract, application, disclosure, or other document to be signed, such document(s) will be deemed executed in the U.S. and only acted upon after you have signed them and they have been received by HSBC in the U.S. If you are not located in the U.S., the laws and regulations of your country of residence could affect the offering, negotiation, discussion, provision, and/or use of HSBC U.S. products and services.If you are not a U.S. resident, please read the specific cross-border product and service disclaimers, which are available on the Cross Border Disclosure page of our public website at us.hsbc.com/crossborder.

Best High-Yield Checking Accounts

We’ve compared 157 checking accounts at 66 nationally available banks and credit unions to find some of the best accounts available. See below to learn more about why we picked each account, the pros and cons, and to access individual bank reviews.

Best for Large Balances

Presidential Bank Advantage Checking

Annual Percentage Yield

0.10% to 4.62%

Minimum Deposit Requirement

$500

Monthly Maintenance Fee

$5, waived with a $500 balance

0.10% to 4.62%

$500

$5, waived with a $500 balance

Editor's Take

We chose Presidential Bank Advantage Checking as one of the best high-yield checking accounts because it offers a generous yield no matter your balance. If you meet the activity and balance requirements, you’ll earn 4.62% APY on balances under $25,000 and 3.62% APY on balances over $25,000.

Why We Like It

You’ll get up to $8 in monthly ATM reimbursements. And though this is primarily an online account, you also receive a free checkbook.

What We Don’t Like

To earn the highest rates, you’ll need to receive a qualifying direct deposit of $500 or more and complete at least seven electronic withdrawals—which include ATM, ACH and point-of-sale transactions—each month. There’s also a $5 monthly service fee if your balance falls below $500.

Who It’s Best For

If you can maintain a balance of at least $500, this account is worth considering. For anyone who keeps a checking balance over $25,000, it offers one of the highest rates you’ll find for balances of that size.

Pros & Cons

Monthly ATM surcharge rebates
Free initial check order
Overdraft protection
All balances earn a competitive interest rate

Significant minimum opening deposit requirement
Balance and activity requirements to earn full APY
Free check writing limited to three checks per month
Monthly maintenance fee for balances under $500

Details

You can write three checks per month for free, but there are charges for additional check writing. ATM rebates are capped at $8 per month.

You can earn 4.62% APY on balances under $25,000 and 3.62% APY on balances over $25,000 by meeting the following conditions:

Receive at least $500 in monthly direct deposits
Make at least seven electronic withdrawals per month

These requirements are waived during the first month your account is open. But if you don’t meet these requirements after the first month of your account being open, your balance will earn 0.10% APY.

Interest compounds and is credited to your account monthly.

Best for No Fees

SoFi Checking and Savings Account

Annual Percentage Yield

Up to 3.80%¹

+0.70% Boost on Savings APY to up to 4.50% for up to 6 months on new accounts with eligible Direct Deposit. Terms apply. (New savings accounts only)*
Rates and details as of 8/5/25.

Minimum Deposit Requirement

Monthly Maintenance Fee

$0³

On SoFi's Website
Member FDIC

Up to 3.80%¹

+0.70% Boost on Savings APY to up to 4.50% for up to 6 months on new accounts with eligible Direct Deposit. Terms apply. (New savings accounts only)*
Rates and details as of 8/5/25.

$0³

Editor's Take

The SoFi Checking and Savings Account ranked high on our list because it has absolutely no account fees³—but it doesn’t skimp on features, earnings or perks either. You’ll earn 0.50% APY on checking and up to 3.80%¹ APY on savings if you set up eligible direct deposit, by depositing $5,000 or more every 30 days or by signing up for SoFi+. Customers who don’t meet this criteria earn 1.00% APY on savings balances¹.

Why We Like It

On top of earning interest, if you enroll in and receive a eligible direct deposit, you can earn a cash bonus of up to up to $300². And while SoFi is an online account, it offers a large ATM network and the ability to deposit cash at participating retail locations.

What We Don’t Like

Having a combined checking and savings account is convenient for some, but if you’re wanting a standalone checking account, you won’t find one here.

Who It’s Best For

Go for SoFi if you get paid via direct deposit and you’re looking to earn high rates, have access to savings tools like Roundups and avoid paying fees³.

Pros & Cons

Earns interest
Overdraft coverage available
Early direct deposit
Savings roundups
55,000+ free Allpoint ATMs

Must meet direct deposit requirements to receive overdraft coverage
No physical locations

Details

Fees:

Outbound wire transfer: $30
Cash deposit: up to $4.95 (charged by retailers)

Disclosures

*Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 9/3/25. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.

¹SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.

²SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

³SoFi does not charge any account, service or maintenance fees for SoFi Checking and Savings. SoFi does charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

⁴Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

⁵Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

⁶We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

Best for Unlimited ATM Reimbursements

Consumers Credit Union Rewards Checking

Annual Percentage Yield

0.01% to 5.00%

on balances up to $10,000. Rates and details as of 7/22/25.

Minimum Deposit Requirement

Monthly Maintenance Fee

On Consumers Credit Union's Website

0.01% to 5.00%

on balances up to $10,000. Rates and details as of 7/22/25.

Editor's Take

We chose Consumers Credit Union Rewards Checking because it offers unlimited ATM fee reimbursements as long as you meet the monthly activity requirements. Plus, it pays high yields and charges no monthly maintenance fee.

Why We Like It

This checking account offers a tiered interest rate, and the requirements to meet the first tier—which offers 3.00% APY and unlimited ATM fee reimbursements—are fairly easy to meet. You can easily track your rewards tier progress online or in the credit union’s mobile app.

What We Don’t Like

Few banks offer unlimited ATM fee reimbursements, but we wish this credit union didn’t require you to meet activity requirements to qualify for them.

Who It’s Best For

Opt for Consumers CU if you use ATMs frequently, make at least 12 debit card purchases each month and receive at least $500 in direct or mobile check deposits.

Pros & Cons

up to 5.00% APY
No monthly fee
Low minimum deposit requirement
Out-of-network ATM fee reimbursement

Must meet various requirements to earn APY and ATM rebate
Must pay a one-time $10,000 fee to join the credit union

Details

You must be a CCU member to open an account, but anyone can join this credit union. All you need to do is join the Consumers Cooperative Association and pay the $5 joining fee, which CCU will reimburse.

Rewards Checking offers three rewards tiers, and each earns a different APY.

To earn 3.00% APY on your balance up to $10,000, you must:

Enroll in eDocuments
Make 12 or more debit card purchases each month
Receive at least $500 per month in direct deposits, mobile check deposits or ACH credits

To earn 4.00% APY on your balance up to $10,000, you must:

Meet all the requirements to earn 3.00% APY
Spend at least $500 per month with a CCU Visa credit card

To earn 5.00% APY on your balance up to $10,000, you must:

Meet all the requirements to earn 3.00% APY
Spend at least $1,000 per month with a CCU Visa credit card

Regardless of tier, balances of $10,000 to $25,000 earn 0.20% APY, and balances over $25,000 earn 0.10% APY. If you don’t meet the minimum Rewards Checking requirements, your entire balance earns 0.01% APY, and you won’t receive ATM reimbursements.

Dividends compound and are credited to your account monthly.

Best for Widespread ATM Access

Ideal Credit Union High Yield Checking

Annual Percentage Yield

0.05% to 5.00%

Minimum Deposit Requirement

monthly qualified direct deposit of $1,500

Monthly Maintenance Fee

0.05% to 5.00%

monthly qualified direct deposit of $1,500

Editor's Take

Our experts chose Ideal Credit Union High Yield Checking account not only because it offers a high yield on sizable balances, but also because of its extensive ATM network that includes both CO-OP and MoneyPass ATMs.

Why We Like It

With no monthly fees or minimum balance requirements, you can reap the full rewards of this account’s high yield no matter your balance—as long as you meet the account activity requirements (see Details).

What We Don’t Like

This checking account’s top-tier APY is one of the best rates out there, but the requirements to earn that rate are harder to meet than other accounts on this list.

Who It’s Best For

You should consider this account if you want access to a large network of surcharge-free ATMs. It’ll be even more rewarding if you receive over $1,500 in monthly direct deposits and use your debit card often.

Pros & Cons

Early Payday option
Optional overdraft protection
No monthly fee
No minimum deposit requirement

Must meet minimum balance requirements to earn APY
Must make 20 debit card purchases to earn APY, which could encourage unnecessary spending

Details

You have to deposit $50 to open the account, but there’s no minimum balance required to earn interest. However, to earn 0.05% APY on your balance up to $20,000, you have to meet the following requirements:

Receive at least $1,500 in qualifying monthly direct deposits
Make at least 20 qualifying debit card purchases per month
Enroll in e-statements

If you don’t meet these requirements, you’ll earn 5.00% APY on your balance. Balances over $20,000 will also earn 5.00% APY.

Interest compounds and is credited to your account monthly.

To open this account, you must become a member of Ideal Credit Union. Anyone can join by meeting one of the following requirements:

Live, work, worship or attend school in a qualifying Minnesota or Wisconsin county
Make a $5 donation to the John D. Miller Foundation

Best for Highest Yields

Redneck Bank Redneck Rewards Checkin’ Account

Annual Percentage Yield

0.25% to 4.10%

Minimum Deposit Requirement

$500

Monthly Maintenance Fee

0.25% to 4.10%

$500

Editor's Take

We selected Redneck Bank Redneck Rewards Checkin’ Account because it offers the highest checking APY we’ve seen. As long as you receive electronic statements and make at least 10 qualifying debit card transactions per month, you’ll earn 4.10% APY on up to $15,000.

Why We Like It

The generous APY is easy to earn, and there’s no monthly maintenance fee. Plus, the account offers convenient perks like ATM reimbursements and overdraft protection.

What We Don’t Like

If you can’t make 10 qualifying debit card transactions each month, you won’t earn the stated APY or the ATM fee reimbursements.

Who It’s Best For

This is a top checking choice for anyone with at least $500 to deposit and 10 or more debit card transactions per month.

Pros & Cons

Very high APY
No minimum balance requirement
Overdraft privilege for qualifying customers
Up to $25 in monthly ATM reimbursements with qualifying activity

Minimum opening deposit requirement higher than some accounts
No in-person banking available
ATM reimbursements only available if you meet monthly transaction requirements

Details

This account offers 4.10% on balances up to $15,000 and 0.50% on balances over $15,000, as long as you meet the following minimum requirements:

Make 10 qualifying debit card transactions
Enroll in electronic statements

You also have to meet the minimum requirements to receive the $25 in ATM reimbursements.

If you don’t meet these requirements, you’ll earn 4.10% APY on your balance. Interest compounds and is credited to your account monthly.

Summary of High Interest Checking Accounts

Presidential Bank Advantage Checking

4.9

Annual Percentage Yield

0.10% to 4.62%

Minimum Deposit Requirement

$500

Monthly Maintenance Fee

$5, waived with a $500 balance

SoFi Checking and Savings Account

4.8

Learn More

On SoFi's Website - Member FDIC

Annual Percentage Yield

Up to 3.80%¹

Minimum Deposit Requirement

Monthly Maintenance Fee

$0³

Consumers Credit Union Rewards Checking

4.7

Learn More

On Consumers Credit Union's Website

Annual Percentage Yield

0.01% to 5.00%

Minimum Deposit Requirement

Monthly Maintenance Fee

Ideal Credit Union High Yield Checking

4.7

Annual Percentage Yield

0.05% to 5.00%

Minimum Deposit Requirement

monthly qualified direct deposit of $1,500

Monthly Maintenance Fee

Redneck Bank Redneck Rewards Checkin’ Account

4.7

Annual Percentage Yield

0.25% to 4.10%

Minimum Deposit Requirement

$500

Monthly Maintenance Fee

ACCOUNT	FORBES ADVISOR RATING	ANNUAL PERCENTAGE YIELD	MINIMUM DEPOSIT REQUIREMENT	MONTHLY MAINTENANCE FEE	LEARN MORE
Presidential Bank Advantage Checking	4.9	0.10% to 4.62%	$500	$5, waived with a $500 balance	View More
SoFi Checking and Savings Account	4.8	Up to 3.80%¹	$0	$0³	Learn More On SoFi's Website - Member FDIC
Consumers Credit Union Rewards Checking	4.7	0.01% to 5.00%	$5	$0	Learn More On Consumers Credit Union's Website
Ideal Credit Union High Yield Checking	4.7	0.05% to 5.00%	monthly qualified direct deposit of $1,500	$0	View More
Redneck Bank Redneck Rewards Checkin’ Account	4.7	0.25% to 4.10%	$500	$0	View More

Guide to High-Yield Checking Accounts

Average High-Yield Checking Account Rates
What Is a High-Yield Checking Account?
Why Choose a High-Yield Checking Account?
Pros and Cons of a High-Yield Checking Account
How To Choose a High-Yield Checking Account
How Do I Apply for a High-Interest Checking Account?
How To Make the Most of a High-Interest Checking Account
High-Yield Checking Account vs. High-Yield Savings Account
Are Interest-Bearing Checking Accounts Worth It?
Alternatives to High-Yield Checking Accounts
Methodology
Banks We Monitor
Frequently Asked Questions (FAQs)

Average High-Yield Checking Account Rates

According to the latest FDIC data, the average APY on interest-bearing checking accounts is 0.07% as of August 18, 2025. A checking account has to earn more than that amount to be considered high interest. Many of the checking accounts on our list have APYs between 3.00% and 5.00%, with some earning over 5.00%.

When Will Rates Go Up?

Though it’s impossible to predict when the interest rates on checking accounts will rise, the federal funds rate is one indicator to keep an eye on.

The Federal Open Market Committee (FOMC) meets eight times a year to set the target federal funds rate. When the Fed rate increases, banks and credit unions tend to raise rates on deposit accounts, such as checking, savings and money market accounts. Interest rates have been on the rise since last year, but the FOMC is now holding rates steady and predicts they will decline in 2024.

How To Find the Best Interest Rate on Checking Accounts

To find the best interest rate on a checking account, consider online banks and credit unions as you shop around, as they tend to offer higher rates than traditional brick-and-mortar banks. When comparing checking accounts, look to minimize fees, too, as they can eat into any interest you earn.

Some banks have requirements you must meet to earn the highest APY, such as maintaining a minimum balance or receiving a certain amount of money via direct deposits each month. If you can’t meet these requirements consistently, you might opt for a checking account that offers the same APY on all balances.

What Is a High-Yield Checking Account?

High-yield checking accounts are checking accounts that offer higher interest rates than standard checking accounts. Some high-yield checking accounts pay the same APY on all balances, while others offer a tiered interest rate that increases with higher balances. You may also have to meet certain requirements to access the advertised rate, such as making a certain number of transactions each month, receiving direct deposits or enrolling in electronic statements.

How Does a High-Yield Checking Account Work?

A high-yield checking account functions like a regular checking account, providing a safe place to keep your money and allowing you to make purchases with a debit card, check or electronic transfer. A high-yield checking account is meant to be used as an everyday spending account, but it offers an interest rate that can help you grow any money that remains after your expenses are paid.

Why Choose a High-Yield Checking Account?

If you regularly use a checking account and maintain a significant balance, a high-yield checking account can help you earn a little passive income. Many high-yield checking accounts have criteria you need to meet to earn the highest interest rate, such as a minimum balance you need to maintain or a direct deposit activity condition. But if you’re already meeting these requirements, you can earn some extra cash with no additional effort.

On the other hand, if you can’t meet an account’s requirements to earn the best APY or avoid fees, it may not be worth opening a high-yield checking account. Aside from earning a higher interest rate, a high-yield checking account is no different from a traditional checking account.

Pros and Cons of a High-Yield Checking Account

There are several benefits to opening a high-yield checking account, but there are a few drawbacks to consider too.

Pros

High APYs. Earn competitive interest on your checking account balance.
Flexibility. Spend money, pay bills, deposit checks and withdraw cash without worrying about transaction limits.
Security. FDIC or NCUA insurance protects your balance and interest earnings.

Cons

Balance or activity requirements. High-yield checking accounts may have requirements for earning interest, such as balance minimums or direct deposit activity requirements.
Earning limits. Many high-yield checking accounts place limits on the amount of interest you can earn or the maximum balance that can qualify for interest.
Lower rates than other accounts. High-yield checking account rates are often lower than those available with high-yield savings accounts, money market accounts and CDs.

How To Choose a High-Yield Checking Account

High-yield checking accounts are not just about the APY. It’s important to weigh all of the potential benefits and drawbacks of any account before deciding so that you can make the best overall choice—rather than just going for the highest APY. Here are several aspects of a high-yield checking account to consider:

Activity requirements

Fees and minimum balance requirements

Digital experience

Safety

Pro Tip

Many institutions advertise their checking accounts as “high-yield” by comparing their checking APY to the national average rate as determined by the FDIC. Remember this average rate for interest checking considers all institutions and is far lower than the best rates available.

How Do I Apply for a High-Interest Checking Account?

Opening a high-yield checking account is just like opening any other checking account. Here are the steps you generally must follow to open a high-yield checking account.

Shop around. Before applying to a high-yield checking account, you’ll need to choose where to open the account. You might end up picking a major national bank, a regional or local bank, a local credit union or an online bank. Among the specifics you should consider are an account’s interest rate and fees.
Provide identification. Once you’ve chosen where to open an account, the financial institution will need to verify your identity if you’re applying in person or online. You generally can verify your identity with a driver’s license, Social Security card, state-issued ID, passport or birth certificate. You might be required to offer more than one form of ID.
Verify your address. The financial institution also will need proof of your address. You may be asked to come up with a copy of your apartment lease or a mortgage statement, utility bill or bank statement.
Make an initial deposit. Some financial institutions require a minimum opening deposit of, say, $50 or $100. Other banks don’t require an opening deposit.
Submit an application. In most cases, a financial institution will ask you to fill out an application, either online or in person. Once you’ve turned in the application, the financial institution might review your banking history and credit history before approving your application.

How To Make the Most of a High-Interest Checking Account

To get the most benefit from a high-yield checking account, look for one that charges low or no fees and offers a high interest rate. If the fees are high and the interest rate is low, then any interest you earn can be erased.

Other things you should consider to make the most of a high-yield checking account are:

Debit card. Does the account offer one? Is it free?
ATM access. How many ATMs would you be able to use? Is it free to use these ATMs, or will you be charged transaction fees? Are any of these fees reimbursed?
Customer service. Does the financial institution have physical locations where you can get assistance with your account? Or does it offer 24/7 customer service by phone, chat or email?
Balance requirements. Some financial institutions require you to keep a minimum amount of money in your account, usually to avoid monthly account maintenance fees. Others, however, don’t impose balance requirements.
Online experience. Is the financial institution’s website easy to navigate? Does it offer a free, simple-to-use app? Does the account come with a bill-paying feature?

Pro Tip

Many high-interest checking accounts can be linked with high-yield savings accounts at the same or different institutions. With linked bank accounts, you can quickly transfer funds between checking and savings—or set up automatic recurring transfers—to maximize your earnings.

High-Yield Checking Account vs. High-Yield Savings Account

A high-yield checking account is simply a regular checking account with a higher interest rate. The same goes for high-yield savings accounts—they are savings accounts with above-average rates. High-yield checking accounts are used for everyday financial transactions, while high-yield savings accounts are meant for stashing money you won’t need to access regularly, such as an emergency savings fund, a down payment for a house or money set aside for other goals.

Checking accounts make it easier to access your money by providing you with an ATM card and checks, whereas most savings accounts don’t offer these features. Checking accounts also have no withdrawal limits, but savings accounts may limit you to six withdrawals per statement cycle. Generally, the best high-yield savings accounts offer better rates than high-yield checking accounts.

Are Interest-Bearing Checking Accounts Worth It?

If you want the benefits of a checking account (such as debit cards and ATM access) while growing your money, an interest-bearing checking account may be worth it. As long as you’re not paying monthly service fees, high-yield checking accounts can give you a small financial boost at no cost. If your primary goal is to build savings, though, you may earn a higher interest rate with a savings account—just be aware you may not be able to access your money as easily as you would with a checking account.

Alternatives to High-Yield Checking Accounts

Depending on your financial goals, a high-yield checking account may not always be the best place for your cash. Consider these alternatives instead of—or in addition to—a high-yield checking account.

Traditional checking account

High-yield savings account

Money market account

Cash management account

Methodology

The accounts on this list have relatively high APYs for checking accounts.

To create a list of the best high-yield checking accounts, Forbes Advisor analyzed 157 checking accounts at 66 financial institutions, including a mix of traditional brick-and-mortar banks, online banks and credit unions. We ranked each account on 17 data points within the categories of APY, customer experience, digital experience, fees, access and minimum requirements.

The following is the weighting assigned to each category for high-yield checking accounts:

APY: 50%
Fees: 15%
Customer experience: 10%
Digital experience: 10%
Minimums: 10%
Branch and ATM access: 5%

Specific characteristics taken into consideration within each category included APY, customer service ratings, mobile access, online access, mobile app ratings and the national availability of the account. We also considered fees, the ability to waive monthly fees, minimum deposit requirements and minimum balance requirements.

Checking accounts with high ratings from the Better Business Bureau and Trustpilot scored the highest, as did those offering no or very low fees and low minimum requirements. To appear on this list, the checking account must be nationally available.

Banks We Monitor

Frequently Asked Questions (FAQs)

What are the activity requirements for a high-yield checking account?

Nearly every high-yield checking account will have minimum activity requirements to earn the highest APY. These requirements will vary from bank to bank, and you can generally expect to have minimum debit card requirements, minimum direct deposit requirements or other minimum transaction requirements.

Which are the highest-yield checking accounts?

Some of the best high-yield checking accounts have APYs between 1.00% and 5.00%. Consumers Credit Union Rewards Checking and Redneck Bank Redneck Rewards Checkin’ Account offer the highest APYs for customers who can meet the monthly activity requirements.

What is FDIC insurance?

The Federal Deposit Insurance Corporation (FDIC) offers banking customers protection against bank failure. Specifically, the FDIC insures deposits of up to $250,000 per depositor for each account ownership category per insured bank. Should an insured bank fail and be unable to repay its customers’ deposits, your money will be protected. Similar protection is provided by the National Credit Union Administration (NCUA) for deposits in federally chartered and most state-chartered credit unions.

Are high-yield checking accounts safe?

You can feel confident that your money is safe in a high-yield checking account. Depending on the financial institution, the Federal Deposit Insurance Corporation (FDIC) or National Credit Union Association (NCUA) typically insures a high-yield checking account for $250,000 per depositor and per insured financial institution for each account category.

Are high-yield checking accounts worth it?

In many cases, a high-checking account is worth having because your money earns interest. After all, not every checking account pays interest on your money. Plus, many high-yield checking accounts charge low fees or no fees, and they waive or refund ATM fees.

What bank pays the highest interest rate on checking accounts?

Credit unions and online banks often pay the highest interest rates on checking accounts. To score an attractive interest rate, compare accounts at several financial institutions. Avoid high fees, as they can cancel out the interest you’d earn from a high-yield checking account.

What are the best high-yield business checking accounts?

The best high-yield business checking accounts offer high APYs, low or no monthly fees, free monthly transactions and other features to help your business run more smoothly. See our picks for the best business checking accounts to find options with the highest yields and the best tools to simplify your business finances.

Do all high-interest accounts have high minimum deposit requirements?

Not all high-interest accounts have high minimum deposit requirements. In fact, some high-interest checking accounts, like Connexus Credit Union Xtraordinary Checking, have no minimum deposit requirements. If you don’t plan to keep a high balance in your checking account, choose an interest-bearing option with no or low minimum balance requirements.

Next Up In Checking

Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.

Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.

Emily Batdorf

Contributor

With a background in education and a fascination with finance, Emily Batdorf writes approachable content for consumers who want to deepen their understanding of personal finance topics. She loves writing about financial foundations—like opening the right bank accounts, building an emergency fund and tackling debt. Her work has been featured on sites including USA Today, MarketWatch, Credible and LendEDU.

Was this article helpful?

The Forbes Advisor editorial team is independent and objective. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. This compensation comes from two main sources. First, we provide paid placements to advertisers to present their offers. The compensation we receive for those placements affects how and where advertisers' offers appear on the site. This site does not include all companies or products available within the market. Second, we also include links to advertisers' offers in some of our articles; these “affiliate links” may generate income for our site when you click on them. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. Here is a list of our partners who offer products that we have affiliate links for.

lorem

Are you sure you want to rest your choices?