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When you think of bank accounts that offer the best bang for your buck, your mind might jump to a savings account. However, a rewards checking account can work just as hard for you as a savings account can.
Best Rewards Checking Accounts
- SoFi Checking and Savings: Best overall
- Upgrade Rewards Checking Plus: Best for cash-back rewards
- Chase Total Checking®: Best for a welcome bonus
- Redneck Bank Rewards Checkin' Account: Best for a high interest rate
- Consumers Credit Union Free Rewards Checking Account: Best for credit unions
Below we've listed our picks for the best rewards checking accounts. Our list of the best checking accounts that earn rewards features the top picks for earning cash back, a sign-up bonus, and interest.
Best Rewards Checking Account Reviews
All of the financial institutions on our list are protected by FDIC or NCUA insurance. Although First Republic Bankwas recently shut down, bear in mind your money is safe at a federally insured financial institution. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account.
SoFi Checking and Savings - Product Name Only
SoFi Checking and Savings is an excellent option if you're for a well-rounded checking account that offers interest, cash back, and a cash bonus.
SoFi lets you earn
The bank is also offering a bank account bonus of
The account works best if you set up a direct deposit or deposit minimum $5,000 per month. That way, you'll qualify for a $250 cash bonus and the highest-tier interest rate. If you don't set up direct deposit or deposit minimum $5,000 per month, you'll only get 1.20% APY on checking balances.
Monthly fee:
SoFi Checking and Savings Review
Upgrade Rewards Checking Plus - Product Name Only
Upgrade Rewards Checking Plus is a great option for earning cash back on debit card purchases. You'll earn 2% cash back on debit card purchases at convenience stores, drugstores, restaurants, bars, and gas stations, as well as for payments on utilities and monthly subscriptions. Any other debit card purchases can earn 1% cash back.
The 2% cash back perk has a limit of $500 per year. Once you reach the annual limit, you'll get 1% cash back on all eligible purchases for the rest of the year.
To get the most out of the Upgrade Rewards Checking Plus Account, like ATM fee reimbursements and loan discounts, you'll have to maintain a $2,500 daily checking account balance, receive at least $1,000 in direct deposits each month, or make eight or more monthly debit card purchases. Otherwise, you won't qualify for these perks.
You should also note is that money transfers, ATM transactions, check purchases, gift cards, foreign currency, money orders, refunds, or fraudulent transactions aren't eligible for any cash back rewards.
Monthly fee:
Upgrade Checking and Savings Review
Chase Total Checking® - Product Name Only
Chase Total Checking is a great option if you're looking for a cash bonus on a checking account that's easy to qualify for. The bank is notably featured in our best national banks guide because it has one of the largest branch and ATM networks throughout the US. Also, while other bank account bonuses require minimum balance requirements or multiple steps,
Here are the steps required to earn the cash bonus:
- Open Chase Total Checking® account with a coupon code (you can apply directly through website or have a code sent to your email)
- Set up direct deposit within the first 90 days of enrolling for the coupon
Chase Total Checking has a
Chase also has other checking accounts with higher cash bonuses, although they aren't as easy to qualify for. Our best bank account bonuses guide explains the requirements needed to earn each bonus.
Monthly fee:
Chase Checking Accounts Review
Redneck Bank Rewards Checkin' Account - Product Name Only
Redneck Bank Rewards Checkin' Account offers a competitive interest rate. You may earn 5.30% APY on account balances up to $15,000, and 0.50% APY on amounts over $15,000 if you fulfill the following activities each month:
- Make 10 qualifying debit card transactions per monthly statement cycle
- Receive online bank statements
If you do not meet the monthly requirements, you'll only earn 0.25% APY on your account. Redneck Bank also requires a steep minimum opening deposit of
Monthly fee:
Redneck Bank Rewards Checking Account
Consumers Credit Union Free Rewards Checking Account - Product Name Only
The Consumers Credit Union Free Rewards Checking Account lets you earn up to 5.00% APY on the first $10,000 in your account. Consumers Credit Union (federally insured by NCUA) also pays unlimited refunds on fees charged by out-of-network ATM providers.
Here are the APY tiers:
- Earn
Consumers Credit Union Free Rewards Checking Account - Basic Requirements + $10k or LESS - APY APY on balances up to $10,000 when you sign up to receive eDocuments, make 12 debit card purchases per month, and receive $500 per month in direct deposits, mobile check deposits, or transfers from other banks. - Earn
Consumers Credit Union Free Rewards Checking Account - $500 Spend + Basic Requirements + $10k or LESS - APY APY on balances up to $10,000 when you meet the qualifications to earn 2.09% and spend $500 per month with your Consumers Credit Union credit card. - Earn
Consumers Credit Union Free Rewards Checking Account - $1k Spend + Basic Requirements + $10k or LESS - APY APY on balances up to $10,000 when you meet the qualifications to earn 3.09% and spend $1,000 per month with your Consumers Credit Union credit card. - Earn
Consumers Credit Union Free Rewards Checking Account - BETWEEN $10k and $25k - APY APY on balances between $10,000.01 and $25,000 when you receive eDocuments, make 12 debit card purchases per month, and receive $500 per month in direct deposits, mobile check deposits, or transfers from other banks. - Earn
Consumers Credit Union Free Rewards Checking Account - ABOVE $25k - APY APY on balances of $25,000.01 and more when you receive eDocuments, make 12 debit card purchases per month, and receive $500 per month in direct deposits, mobile check deposits, or transfers from other banks.
You need a Consumers Credit Union credit card to earn the maximum interest rate, and if you don't meet any of the qualifications listed, you'll only earn 0.01% APY.
One of the main differences between banks and credit unions is that you must meet certain qualifications to join a credit union, such as living in specific US states, working for a given company, or having a family member who is already a member. At Consumers Credit Union, you have to pay a one-time fee of $5 to the Consumers Cooperative Association and open a savings account.
Monthly fee:
Rewards Checking Accounts FAQs
What is a rewards checking account?
A rewards checking account is a type of checking account that offers perks such as cash back, a high APY, or a bank account bonus. Typically, you have to meet certain qualifications to receive a reward.
What bank has the best rewards program?
Right now, the banking institutions that offer the best rewards or cash bonus programs include Chase, Upgrade, Redneck Bank, SoFi, and Consumers Credit Union.
What is a cash-back checking account?
Cash-back checking accounts let you earn a percentage of the money you spend on a debit card back into your account. It's sort of like getting a discount on every purchase you make with your debit card.
Do debit cards earn rewards?
Debit cards do not usually earn you rewards — but debit cards attached to rewards checking accounts are the exceptions. Some rewards checking accounts link your reward to your debit card. You may earn cash back or qualify for a higher APY if you swipe your debit card a certain number of times per month.
Are interest checking accounts worth it?
It depends. If you tend to keep a lot of money in your checking account, then a high-yield checking account could be worth it. If your balance typically stays low, you may want to look for a reward other than a high APY, like cash back or a sign-up bonus.
Which Rewards Checking Account is the Most Trustworthy?
The Better Business Bureau rates businesses to see if they handle business practices well, have honest advertising, and respond effectively to customer complaints. The only institution on our list that hasn't received a BBB rating yet is Redneck Bank.
Here are the BBB ratings for all of our other top picks:
| Institution | BBB grade |
| Chase | A+ |
| Redneck Bank | None |
| Upgrade | A+ (C- rating from partner bank) |
| SoFi | A+ |
| Consumers Credit Union | A+ |
Upgrade received an A+ rating from the BBB. Its partner bank, Cross River Bank, received a C- rating because it has received a high volume of customer complaints on the BBB website, and it has six unresolved complaints.
A good BBB grade won't guarantee that your relationship with the bank will be great. Make sure to also get other people's perspectives and reviews.
Chase has been involved in a few public controversies. In 2020, JP Morgan Chase & Co. paid the Department of Justice $920 million in a settlement that said the bank was involved in wrongful trading.
In the same year, the US Department of Labor also required Chase to pay $800,000 in back wages in a settlement that accused the bank of underpaying women.
SoFi has also been involved in a recent public controversy. In 2021, the Security and Exchange Commission required SoFi Wealth to pay $300,000 in a settlement that stated the bank failed to tell SoFi customers of a conflict of interest when it put account holders' assets into SoFi ETFs instead of third-party ETFs.
Why You Should Trust Us: Our Expert Panel for the Best Rewards Checking Accounts
We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best checking accounts for your needs.
Insider
Here's what they had to say about checking accounts. (Some text may be lightly edited for clarity.)
What should you look for in a checking account?
Roger Ma, certified financial planner with lifelaidout® and author of "Work Your Money, Not Your Life":
"I would look at the ATM branch locations and then minimum balance amounts to not incur a monthly fee … I think there's other stuff that could make life easier, whether it's free checks, online bill pay, are they in the Zelle network?"
Sophia Acevedo, certified educator in personal finance, banking reporter, Personal Finance Insider:
"I would for a checking account that either doesn't have any monthly services fees or offers multiple ways to waive the fee. I would also look at customer support availability and mobile app ratings."
How can someone determine if a bank is a good match?
Tania Brown, certified financial planner at SaverLife:
"Obviously, you want to make sure it's FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you're okay online. Do you write checks? Do you not write checks? So it's thinking through how your experience with it is going to be before you make that decision."
Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:
"The No. 1 thing about a checking account is you should know what provider the debit card is coming from. And a lot of people don't think about that, because there are places that don't accept MasterCard or don't accept an Amex."
How should someone decide whether to choose a rewards checking account with a high APY, cash sign-up bonus, or cash back?
Tania Brown, CFP:
"I have checking accounts with all the above, because I use checking accounts for different purposes. I would tell someone, think through the experience of how you're going to use it. So I have my account strictly for bills and I don't attach a debit card to that. Well, I'm not going to get a lot of cash rewards out of that, because I rarely use that debit card, but I keep a pretty decent balance. So that one I use in particular for interest. I have a spending checking account. That one, I don't care if the balance is zero, the money that goes in there, I expect for it to go out. But because I use that often, that is the one I attached to a cash reward. And then I have another one that I use just for travel, and I actually have a travel reward attached to that one."
Roger Ma, CFP:
"I think if you're someone who is responsible with credit, then instead of focusing on a checking account that rewards you, look to a credit card that rewards you for the areas where you spend money. I wouldn't recommend people waste their time with a rewards checking account. Get the fundamentals right with fewer checking or savings accounts, and then start to move toward using a credit card to build your credit."
Our Methodology for the Best Rewards Checking Accounts
We reviewed over two dozen rewards checking accounts to identify the strongest options.
We looked at the reward offered by a checking account — such as a high APY or sign-up bonus — but we also considered how easy or difficult it is to receive a reward. And we considered other factors that make a checking account strong or weak, including opening deposits, monthly fees, and ATM accessibility.
See our full methodology for how we rate checking accounts.
Other Rewards Checking Accounts We Considered
We looked at over 24 rewards checking accounts before choosing our favorites. But depending on your needs, you still may decide one of these accounts is a better fit:
LendingClub Rewards Checking Account - Product Name Only : LendingClub pays a lower interest rate than our top picks, and to get the most out of your account you need to maintain a $2,500 balance. Read Insider's LendingClub Review.Wealthfront Cash Account - Product Name Only : Wealthfront paysWealthfront Cash Account - APY on all your cash, but our top pick offers the potential for an even higher interest rate. Read Insider's Wealthfront Cash Account Review.Quontic Cash Rewards Checking Account - Product Name Only : Quontic lets you earn 1% cash back on eligible debit card purchases. You can get up to $50 in cash back rewards per month. It wasn't our top pick because Upgrade's cash-back perks stand out more. You can earn 2% cash back on everyday purchases (up to $500 in rewards per calendar year). Read Insider's Quontic Bank Review.Discover Cashback Debit Account - Product Name Only : Discover lets you earn 1% cash back on up to $3,000 in debit card purchases per month. However, our top pick Upgrade may be appealing when it comes to earning cash back on everyday purchases. Read Insider's Discover Bank Review.Bank of America Advantage SafeBalance Banking® Account : Bank of America offers aBank of America Advantage SafeBalance Banking® Account - Ongoing Bonus cash bonus for new customers, but our top pick offers the potential for a greater bonus. Read Insider's Bank of America Review.Axos Bank Rewards Checking : Axos offers a high-yield checking account with high interest rate, but Wealthfront's account offers an even higher rate. Read Insider's Axos Bank Review.Bitcoin Rewards Checking : This is like a cash-back account, but you'll earn Bitcoin instead. You can exchange Bitcoin for cash later if you prefer.Quontic High Interest Checking Account : This is a good high-interest checking account, but you can earn more with Wealthfront.OnJuno Metal Checking Account : This account pays a high APY on balances up to $10,000. However, Wealthfront offers the same rate regardless of your account balance. Read Insider's Juno Review.CashBack Checking : You'll earn 1% cash back, but you must maintain a $1,500 minimum balance.Bethpage Free Checking Account : This is a good option if you want a credit union rather than a bank, but you can earn more with Consumers. Read Insider's Bethpage Credit Union Review.Connexus Xtraordinary Checking Account : This is another good high-yield checking account, but you can earn a better rate with Consumers. Read Insider's Connexus Credit Union Review.Pentagon Federal Credit Union Access America Checking Account : PenFed is a good credit union overall, but this checking account doesn't pay as high of a rate as most of our top picks do. Read Insider's Pentagon Federal Credit Union Review.Wings Financial Credit Union High-Yield Checking Account : You can earn a good APY if you meet certain criteria. It doesn't pay as much as Wealthfront, though. Read Insider's Wings Financial Credit Union Review.- Kasasa checking accounts: Kasasa is a company with partner banks all around the United States. You'll likely find a good rewards checking account if there is a partner bank near you, but rewards vary from bank to bank.
Credit Union Max Checking : You'll earn a high APY on balances under $15,000, but only residents of certain parts of the US can join this credit union.HSBC Premier Checking (Member FDIC) : To become an HSBC Premier client, you have to keep $75,000 in bank/investment accounts, receive $5,000 in direct deposits each month, or take out a mortgage of at least $500,000. Read Insider's HSBC Bank Review.Associated Bank Personal Checking Account : You'll earn a $200, $300, or $500 sign-up bonus, but there are only branch locations in Wisconsin, Minnesota, and Illinois. Read Insider's Associated Bank Review.City Gold Checking Account - Product Name Only : You'll receive a $100 bonus when you open one of several checking accounts, which is less than what you'll earn with some other banks.Smartly Checking Account - Product Name Only : US Bank has a solid bank account bonus but the account has a monthly service fee unless you qualify to waive it. Read Insider's U.S. Bank Review.First Tech Rewards Checking® - Product Name Only : This account pays a high interest rate, just not quite as high as our top picks.