Chase is offering a three-prong combo bonus for their Freedom Unlimited card and Total Checking account:
Chase Freedom Unlimited Credit Card: Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target or Walmart purchases) on up to $12,000 spent in the first year.
Chase Total Checking: As a new Chase checking customer, get $225 when you open a new Chase Total Checking account from this page and set up direct deposit within 90 days.
Get $100 for both Chase Total Checking and Chase Freedom Unlimited Credit Card. To get an extra $100 bonus, open a Chase Total Checking account from this page and set up direct deposit. AND, open a Chase Freedom Unlimited credit card within the promotional timeframe.
The Fine Print
Offer expires 10/4/21
For more details on Chase checking bonuses and avoiding fees, see previous posts on those bonuses
The $225 bonus and the $100 bonus will be reported on a form 1099-INT
Our Verdict
The Freedom Unlimited bonus is the standard online offer (though some can do better by using a referral link which gives your friend a bonus or by going in branch for an extra $50). The checking offer is lower than the top offers we’ve seen, such as this checking/savings $600 combo offer.
The current $525 offer makes sense for someone who is planning on signing up for the Freedom Unlimited card with the standard online bonus and who isn’t interested in doing Chase savings account offers. In that case, this bonus actually gives you a bit better than typically possible. We also haven’t seen any of the big Chase checking/savings bonuses lately.
A crisis is no time to wonder if your car payment is due.
But whether it’s a medical emergency, a job loss, a natural disaster or… let’s face it, some crisis we haven’t even imagined yet, it’s easy enough to lose track of the other priorities in our life — and that can add to our financial woes.
Staying in control of your finances is essential, particularly during a crisis. An overdraft fee here, a late payment there and suddenly your initial problem is compounded by a financial hit that can haunt you for years.
If knowledge is power, then setting yourself up to have all your financial information on hand could be the difference between a one-time disaster and a lasting financial catastrophe.
One way to start protecting your money: Use the digital apps for your banks and lenders.
How to Use Phone Apps to Protect Your Finances
Downloading apps from your various financial institutions can help you during a crisis, but only if you have access to everything you need. Here’s how to make it happen in 15 minutes.
1. Create a Comprehensive List
Start by compiling a list of monthly, quarterly and annual bills — and the companies to which you send payments. Don’t trust your analog brain to remember all of them.
Instead, take a few minutes to review your budget or your bank and credit card statements from the previous year to jog your memory on regular but non-monthly expenses, like your vehicle registration renewal or credit card membership fees.
Also list your banks and all of your credit cards — even the ones you don’t regularly use. In a crisis, you may need access to a credit line you don’t typically tap, and you’ll want to have that account information handy.
2. Download the Official Apps
Whether it’s your student loan servicer or your mortgage lender, using the company’s official app offers the benefit of providing you more immediate access to your information and to assistance during a crisis.
Most lenders have added easy-access buttons that let you apply for relief plans if you’re struggling to pay your bills. That small convenience saves you the step of searching the company’s website for a customer service number.
Pro Tip
Create logins and new passwords when you download the apps, keeping the info in a secure place. And don’t reuse passwords to mitigate the damage if a thief gains access to one of your accounts.
By downloading the app, you’ll also have easy access to your account information. That can be helpful if a crisis puts you in the hospital unexpectedly or forces you to evacuate suddenly and you need to contact a lender.
Saving those few minutes of stress by keeping the information handy could mean the difference between connecting with financial hardship assistance and letting bills go unpaid. Doing the latter could wreck your finances for long after the disaster passes.
3. Use App Features to Protect Your Money
If you haven’t set up automatic payments for monthly expenses like your mortgage and cell phone bill, do it before the next catastrophe hits. During an emergency, you don’t want the electricity turned off just because you forgot what day it is.
Additionally, you can set up spending alerts and limits for your bank accounts and credit cards, helping you avoid those nasty overdraft fees.
Pro Tip
If you’re trying to maintain social distancing guidelines, use the check deposit feature available on most bank and credit union apps to avoid visiting a physical location.
Review the apps for other features that you may not have considered, like the ability to check your credit score. If you check your score on a regular basis and it suddenly drops unexpectedly, you can track down the problem quickly.
Most major credit card apps also allow you to lock the account and replace your card if it’s lost or stolen amid the chaos of your current situation.
You may not be able to prevent a crisis, but you can control how you prepare for one so you and your money can survive intact.
Tiffany Wendeln Connors is a staff writer/editor at The Penny Hoarder. Read her bio and other work here, then catch her on Twitter @TiffanyWendeln.
They’re calling it “the Great Resignation,” because everybody’s quitting their jobs now. At least it feels like everyone’s quitting.
The COVID-19 pandemic has many of us reevaluating our lives and our careers. Some of us are burned out. Some of us aren’t ever going back to the office. Nearly 4 million Americans quit their jobs in June alone, according to the U.S. Bureau of Labor Statistics.
In fact, most American workers are currently thinking about bailing on their jobs, according to a number of recent surveys. A surprising number of them are even willing to go into debt to do so.
Are you in this boat? If you leave your current job without having another job lined up, you’re going to want to make these five financial moves before you give notice. Having a solid financial plan will give you the time, the room and the stability to pursue the kind of career you really want.
1. Have Savings in the Bank
Even though there are a lot of job openings these days, you might not get a new job right away. Before you quit, financial experts often recommend having enough savings to pay six months’ worth of living expenses — although that can be a pretty tall order.
In any case, you should have enough savings to support yourself for several months. Try funneling some of your current paycheck into a separate savings account, so you won’t be tempted to spend it.
With the Aspiration account, you can earn up to 20 times the average interest on your savings balance. (The FDIC reports that the average account earns just .05%.)
With this online account, your money is FDIC-insured and protected by military-grade encryption. You also earn up to 5% cash back on your debit card purchases. It takes all of five minutes to sign up.
2. Make Sure You’ll Have Health Insurance
Um, don’t forget that we’re still in a global pandemic. Yes, STILL.
You’ll want to have health insurance, even though you won’t have it as an employment benefit anymore.
COBRA allows you to continue coverage under your former employer’s plan for up to 18 months, but it’s expensive. You’re not eligible for government-paid COBRA premiums if you voluntarily left your job.
Instead, consider shopping on the federal health insurance marketplace, which offers a variety of plans at differing levels of coverage and cost. Depending on your income, you may qualify for a subsidy to help pay for your insurance.
3. Cut Your Monthly Expenses
With no steady income — at least temporarily — you’ll need to live on less. Examples: Cut cable, cancel some streaming services, don’t order out for dinner.
Don’t stop there, though. Take real steps to reduce your unavoidable monthly bills:
Car insurance: A website called Insure.com makes it super easy to compare car insurance prices. All you have to do is enter your ZIP code and your age, and it’ll show you your options. People have saved an average of $540 a year this way.
Groceries: A free app called Fetch Rewards will reward you with gift cards just for buying toilet paper and hundreds of other items at the grocery store. After you’ve downloaded the app, just take a picture of your receipt showing you purchased an item from one of the brands listed in Fetch.
Online purchases: Wouldn’t it be nice if you got an alert anytime you’re shopping on Amazon or Walmart.com and you’re about to get ripped off? That’s what this free service does. Just add it to your browser, and before you check out, it’ll check other websites to see if your item costs less somewhere else.
4. Roll Over Your 401(k)
If you’ve been in your current job for long enough that you want to quit it, then you probably have a 401(k) retirement account through your employer.
It might be tempting to cash it out and have access to all that money, but that’s not a good idea. It comes with penalties and taxes while reducing your retirement savings.
You should probably just leave your 401(k) account as it is until you get a new job. Then you can roll it over into your next employer’s 401(k) plan. Or, if you’re going to be self-employed, roll the money into an IRA, an individual retirement account.
5. Develop Other Income Sources
If you’re burned out on your job and you want a change, you’re far from alone. But if you quit your job without another one lined up, you may need some alternative income sources until you find your next permanent gig.
Maybe it’s time to look into getting a side gig for the time being. Here’s a list of seven side gigs that have gotten us through the past year and a half. They include delivery apps, elder assistance, contact tracing, freelancing and homeschool assistance.
We know other ways to pick up a little spending money here and there. For instance, research companies want to pay you to watch the news.
You could add up to $225 a month to your pocket by signing up for a free account with InboxDollars. They’ll present you with short news clips to choose from every day, then ask you a few questions about them. It only takes a minute to sign up, and start getting paid to watch the news.
The “Great Resignation” has a lot of us quitting our jobs — or at least thinking about quitting our jobs.
Nothing wrong with that. But if you’re doing this, having a financial plan in place will make all the difference.
Mike Brassfield is a senior writer for The Penny Hoarder.
Instead, you’ll do all your cash management through the app or website, plus nationwide ATMs. To open a SoFi Money account: Source: thepennyhoarder.com
The checking account features make your money more accessible through SoFi Money than in a traditional savings account (which typically come with withdrawal limits of six per month), so you can build your savings knowing you can get to the money anytime if you need it.
What Is SoFi Money?
SoFi could be a fit for you if:
Unlike most checking accounts, SoFi Money comes with these transaction limits that could make it tough to use as your primary spending account:
Pros
You’ll earn 0.02% APY on your balance for any month you add at least 0 through direct deposit or transfer into the account.
No minimum opening deposit.
No maintenance or minimum balance fees.
No overdraft fees.
Network of fee-free ATMS, plus out-of-network ATM fee reimbursement.
Slick app with a lot of features.
High interest rate at 0.25%.
Cons
Our in-depth and honest review of SoFi Money will look at the product’s checking and savings features, and SoFi Money compares with other online bank accounts to help you determine whether it’s right for you.
No cash deposits.
Restricting transaction limitations.
No business checking or savings options.
No SoFi ATMs or branches.
The money in your SoFi Money cash management account is FDIC insured up to .5 million through a network of partner banks.
Banking With SoFi: How We Rate It
The money in your SoFi Money cash management account is FDIC insured up to .5 million through a network of partner banks.
SoFi Money Account Fees
The money in your SoFi Money cash management account is FDIC insured up to .5 million through a network of partner banks.
Getty Images
SoFi Student Loans
The money in your SoFi Money cash management account is FDIC insured up to .5 million through a network of partner banks.
Pro Tip
The money in your SoFi Money cash management account is FDIC insured up to .5 million through a network of partner banks.
SoFi Customer Service
The money in your SoFi Money cash management account is FDIC insured up to .5 million through a network of partner banks.
Frequently Asked Questions (FAQs)
Is SoFi App Legit?
The money in your SoFi Money cash management account is FDIC insured up to .5 million through a network of partner banks.
Is SoFi Money Right for You?
The money in your SoFi Money cash management account is FDIC insured up to .5 million through a network of partner banks.
Our Bank Review Methodology
With the combined checking and savings features, SoFi Money acts best as a short-term savings account, rather than a primary saving or spending vehicle. Move money into the account for short-term goals, such as:
Check out our current list of bank promotions for a chance to gain a monetary bonus when signing up for a new bank account. SoFi Money is not compatible with Zelle. However, it offers its own peer-to-peer payments option that lets you send money to anyone in your address book. Recipients who also use SoFi Money will get the money instantly, and others will get it in one to two business days. Back to top ↑
When customers grew tired of high cable and satellite bills, streaming giants Netflix and Hulu entered the playing field.
When customers lamented their experiences with taxis, Uber and Lyft offered a new way to get around town.
And when customers saw that their financial institutions were not working with their best interests in mind, online bank accounts came onto the scene to offer more.
The best online checking accounts offer members lower fees (or sometimes even no fees) and higher interest rates than their traditional bank and credit union competitors. They also have responsive websites and advanced mobile apps to provide the same convenience of in-person banking on the go.
And despite what you might think about an account that is entirely online, they are incredibly safe. (Lack of safety is just one of many myths about online banks.)
All this makes online bank accounts highly appealing to savvy Penny Hoarders — or, in the case of online checking accounts, savvy penny spenders.
The Best Online Checking Accounts of 2021, Ranked
If the pros of online banking far outweigh the cons for your personal needs, spend some time researching online checking accounts available in 2021. Remember: Not all online banks are created equal.
To determine my top 9 list, I researched 20 of the most popular online checking accounts and compared key elements, including APYs, minimum account balances, ATM fees, monthly service fees, foreign transaction fees and overdraft fees.
Based on these factors, I ranked them by best features overall. While the 12 other popular accounts I researched had merits, I couldn’t justify choosing any of them over the nine listed here.
My most crucial advice during your pursuit: Always read the fine print before signing up for an account.
Aileen Perilla/ The Penny Hoarder
1. nbkc bank
The National Bank of Kansas City, more popularly known as nbkc, isn’t just for Kansans — and with its high APY, lack of fees and easy ATM access, that’s a good thing for those of us living outside the state.
APY: 0.15%, no matter the balance.
Minimum balance requirement: You’ll need $5 to open the account, but no minimum balance is required.
ATM fees: Members get fee-free access to more than 37,000 MoneyPass ATMs. If you can’t find one near you, you can withdraw from other ATMs and receive up to $12 per month in ATM fee reimbursements.
Monthly fees: None.
Foreign transaction fees: None.
Overdraft fees: No overdraft fees. The only two conceivable fees you might incur with nkbc are for sending a domestic wire in the U.S. ($5) and sending or receiving an international wire ($45).
Details: National Bank of Kansas City
2. Axos Rewards Checking
Formerly known as Bank of Internet, Axos Bank offers a great online checking account with the potential to earn up to 1.25% APY.
APY: You have the potential to earn a 1.25% APY, assuming you fulfill three conditions each month (each worth 0.4166% APY):
Receive at least one direct deposit of $1,000 or more.
Use your debit card 10 times per month.
Use your debit card 15 times per month.
So if you receive one direct deposit from your employer each month and use your debit card 10 times, you will receive two-thirds of the available APY (0.8332%). Five more swipes of the debit card would earn you the full 1.25% APY. Note: Only transactions of $3 or more apply.
Minimum balance requirement: None.
ATM fees: Unlimited ATM fee reimbursements, none outside the U.S.
Monthly fees: None.
Foreign transaction fees: Yes, 1% of each transaction.
Overdraft fees: None.
Details: Axos Rewards checking account
Notes: Replacement debit cards cost $10 (or $50 for rush delivery), so hold on tight to your wallet.
3. Wealthfront Cash Account
The Wealthfront Cash Account is a new high-interest checking offering from Wealthfront, a popular banking service. It does everything that traditional checking accounts do — but it’ll pay you double the national average interest, and you can get paid up to two days early when you directly deposit your paycheck. Plus, Wealthfront insures your deposits up to $1 million.
APY: 0.10%
Minimum balance requirement: You only need $1 to open an account, and there are no account minimums.
ATM fees: You get a debit card that works at 19,000 fee-free ATMs across the U.S.
Monthly fees: Wealthfront won’t charge you any monthly or maintenance fees.
Foreign transaction fees: 2.75%
Overdraft fees: There is no overdraft option, so you don’t have to worry about overdraft fees.
Details: Wealthfront Cash Account
4. Charles Schwab High Yield Investor Checking
Travelers will love the Charles Schwab High Yield Investor Checking account, thanks to its universal ATM fee reimbursements.
APY: 0.03%.
Minimum balance requirement: When you open a checking account with Charles Schwab, you must also open a Schwab brokerage account, but don’t worry: It also has no minimum balance requirements.
ATM fees: Universal ATM fee reimbursements.
Monthly fees: None.
Foreign transaction fees: None.
Overdraft fees: You may want to keep something in the brokerage account, because Charles Schwab doesn’t charge overdraft fees if the funds are available in the linked account.
Details: Charles Schwab High Yield Investor Checking account
5. Ally Interest Checking Account
Ally Bank offers both checking and savings accounts that are worth your consideration, especially with easy ATM access and lack of monthly maintenance fees.
APY: This online checking account offers 0.25% APY on balances over $15,000. For balances less than $15,000, Ally offers 0.10% APY. The available linked savings account, however, pays out 0.60% APY, so it makes more sense to keep your money there.
Minimum balance requirement: None.
ATM fees: Offers U.S.-based ATM reimbursements up to $10 and all U.S. Allpoint ATMs are free. However, Ally’s checking account does fail travelers. There are no ATM fee reimbursements outside the U.S. and foreign transaction fees total 1% of the transaction.
Monthly fees: None.
Foreign transaction fees: Yes, 1% of each transaction.
Overdraft fees: None.
Details: Ally Interest checking account
6. Discover Bank Cashback Debit
The biggest reason I love this high-yield checking account: Your earnings are all about how you spend.
APY: Unlike other banks on this list, Discover does not pay out an APY. Instead, it rewards you for using the money in your checking account. Right now, Discover gives you 1% cash back on up to $3,000 in debit card purchases every month. That’s up to $30, just for spending as you normally would.
Minimum balance requirement: None.
ATM fees: Access to more than 60,000 fee-free ATMs, though you may incur fees for out-of-network ATMs.
Monthly fees: None.
Foreign transaction fees: It depends on the country. See which countries you can use your debit card in without incurring a foreign transaction fee.
Overdraft fees: None.
Details: Discover Cash checking account
7. Chime Spending Account
Chime is unique in that it earns very little interest but still has plenty of benefits to merit a spot on this list, including cool savings tools for young savers, easy access to ATMs and early access to paychecks.
APY: The checking account does not earn interest. But the associated savings account that comes with every Chime spending account earns 0.50% APY.
Minimum balance requirement: None.
ATM fees: 60,000 fee-free ATMs in the U.S. ATM withdrawals are limited to $500 per day, however, and cards come with a daily spending limit of $2,500.
Monthly fees: None.
Foreign transaction fees: None.
Overdraft fees: None.
Details: Chime Spending Account
Notes: What makes Chime unique is how it helps users build up their savings. Chime can automatically transfer 10% of any direct deposit into your savings. Even more helpful is the automatic rounding tool. If you buy an iced coffee for $3.14, Chime rounds the charge up to $4 and puts the extra $0.86 into your savings account. You can turn off both features at any time.
One final cool feature: Chime can get you access to your paycheck via direct deposit up to two days ahead of payday.
Check out our Chime Bank review for more details.
8. Consumers Credit Union Free Rewards Checking
If you have your sights set on the highest APY possible, go with Consumers Credit Union. Just be ready to meet some strict criteria first.
APY: This bank offers the best APY on this list. But you’ll have to meet a lot of conditions to earn the full 4.09%. First, you have to have a $5 minimum opening deposit.
To earn 3.09% APY on balances up to $10,000 and unlimited ATM fee reimbursement, you need to do four things:
Use the debit card at least 12 times per month (and run it as credit rather than debit).
Have one or more direct deposits or ACH debit to your account totaling $500 a month.
Spend at least $500 on your CCU Visa credit card.
Receive all your paperwork digitally (instead of by mail).
To bump the APY up to 4.09% on balances up to $10,000, you’ll have to spend at least $1,000 per month with the credit union’s Visa credit card.
In short, you need to be a power user to earn the fantastic APY. Otherwise, the APY is just 0.01%.
Minimum balance requirement: None.
ATM fees: None, with unlimited ATM fee reimbursement if you meet minimum Rewards Checking requirements. Consumers Credit Union has more than 30,000 fee-free ATMs nationwide.
Monthly fees: None.
Foreign transaction fees: Yes, 1% of each transaction.
Overdraft fees: $30 for every overdraft. You can link the account to a savings account and get overdraft protection, which will cost $10 per transfer.
Details: Consumers Credit Union Free Rewards checking account
Notes: One small highlight for the Consumers Credit Union: There are 10 physical locations in the Chicago area and 1,800 shared branches nationwide, should you have a need for in-person help.
9. Capital One 360
Capital One 360’s checking account is not the strongest, but its potentially high APY, its access to ATMs and its lack of foreign transaction fees are its saving grace.
APY: 0.10%
Minimum balance requirement: None.
ATM fees: 70,000 Capital One and Allpoint fee-free ATMs, but there is no fee reimbursement for out-of-network ATMs.
Monthly fees: None.
Foreign transaction fees: None.
Overdraft fees: Choose what happens when you overdraw. You can set up auto-decline, free savings transfer, or next day grace (a day to replace the amount before you are charged $35).
Details: Capital One 360 checking account
Comparing the Best Online Checking Accounts of 2021
Online Checking Account
APY
Minimum Account Balance
ATM Fees
Monthly Fees
Foreign Transaction Fees
Overdraft Fees
Notes
nbkc bank
0.15%
None
None at 32,000 Moneypass fee-free ATMs; reimburses up to $12/month in ATM fees
None
None
None
Costs $5 to open account
Axos Rewards Checking
Up to 1.25%
None
None; unlimited ATM fee reimbursement
None
1% of each transaction
None
Must meet qualifications to earn APY; ATM fee reimbursement only applies to U.S. ATM locations
Wealthfront Cash Account
0.10%
None
None for 19,000 ATMs in U.S.
None
2.75%
None
Get paid up to two days early with direct deposit
Charles Schwab High Yield Checking
0.03%
None
None; unlimited ATM fee reimbursement
None
None
None
Linked with Schwab brokerage account
Ally Interest Checking Account
0.25% or none
None
None; reimburses up to $10/month in ATM fees in U.S.
None
Yes, 1% of transaction
None; free overdraft protection
Can link savings account (which pays 0.6% APY)
Discover Bank Cashback Debit
1% cash back on debit card purchases up to $3,000 each month
None
None at 60,000 fee-free ATMs; no ATM fee reimbursement
It depends on the country
Yes, 1% of transaction
Getting cash back on debit card purchases could earn you up to $30 a month
APY requires $0.01 in Protected Goals Account
Chime
None
None
None at 60,000 fee-free locations in U.S.
None
None
None
Earn 0.50% APY in the connected savings account; account also offers savings features
Consumers Credit Union Free Rewards Checking
Up to 4.09%
$5
None; unlimited ATM fee reimbursement if you meet requirements
None
Yes, 1% of transaction
Yes, $30 per overdraft
APY and ATM reimbursement are linked to a lot of conditions that must be met
Capital One 360
0.1%
None
None at 70,000 Capital One and Allpoint ATMs; no ATM fee reimbursement
None
None
$35, but you can opt for auto-decline, free savings transfer, or next day grace
Link this account with a high-yield savings account or money market account
Pro Tip
Visit our list of bank promotions to learn about how you could gain a bonus when signing up for a new bank account.
Getty Images
What to Look for in an Online Checking Account
If you keep your cash in a traditional bank or credit union but are drawn to the convenience and higher returns of an online checking account, consider several important factors:
Annual percentage yield (APY): An annual percentage yield, according to Investopedia, is “the effective annual rate of return taking into account the effect of compounding interest.” If you are intrigued by complex math formulas, Investopedia even explains the calculation. But for those who, like me, shudder at the thought of high school math, here’s the easier thing to remember: The higher the APY, the more money you earn. An alternative to consider to APY is cash back. Some accounts, like Discover, offer cash back in place of interest. Depending on how much you spend in debit card purchases, cash back could be the better option.
Minimum balance: The best online checking accounts typically require no minimum balance — or a reasonably low balance. Some banks may require minimum balances to achieve certain benefits, like a higher APY or ATM fee reimbursements.
ATM fees: Speaking of ATMs, look for a mobile-based checking account with a large network of fee-free ATMs nationally, or even globally. A truly good checking account should even reimburse you for fees other ATMs outside of the network may charge you.
Monthly fees: Make free checking accounts a top criterion when selecting an online bank account; this is often a key differentiator from checking accounts at traditional banks. If an online bank includes “monthly maintenance fee” in its fine print, take your money elsewhere.
Foreign transaction fees: If you travel out of the country frequently, find a checking account with a debit card that does not charge you a fee to use an ATM or make a transaction abroad. However, this may not be the most important criterion, as many savvy online bank members also have travel rewards credit cards that are fee-free globally.
Overdraft fees: Everybody makes mistakes. Don’t let your online bank punish you for it. Find a checking account that will not charge you an overdraft fee if you accidentally overspend.
Downsides of Online Checking Accounts
Even the best free online checking accounts have their disadvantages.
The biggest downside: Many online financial institutions do not contract with ATMs, so depositing cash can be difficult. Even those of us who live by the plastic in our wallets may sometimes need to deposit cash, like if Grandma gives you $100 for your birthday or you wait tables and amass a fair amount in cash tips each week.
Pro Tip
If you don’t want to carry a lot of cash, purchase a money order for as little as $1 and then deposit the money order electronically. Or give it to a friend who can Venmo you the equivalent.
Other drawbacks include a lack of cashier’s checks (you may have to order one and wait a few days for it to arrive) and a lack of in-person service. When I am stressed about my finances or troubled by activity I see in my account, I find it satisfying to go into one of my credit union’s physical branch locations to get assistance. But if you think you can keep your cool while getting help over the phone or online, this shouldn’t be a problem.
Frequently Asked Questions (FAQs)
If you are making the move from a checking account at a traditional bank to an online account, you likely have some questions. Here, we’ll tackle some of the most frequently asked questions about online checking accounts:
What Other Banks are Like Chime?
Chime is certainly one of the more interesting online banking accounts out there, but its app-based approach is not wholly unique. Some of Chime’s competitors—and thus alternatives for you to consider—include Current Bank, Varo, and Acorns.
Current Bank allows you to set up Savings Pods, little sub savings accounts to work toward a goal. You can also get your paycheck two days early.
Varo Bank has checking and savings accounts, the latter with an automatic savings tool. Varo also has early direct deposits.
Finally, Acorns allows you to get involved in micro-investing, rounding up your purchases and investing the remaining amount. There is a monthly service fee for this account, however.
A bank account with any of these institutions could be worthwhile, but in general, Chime tends to be the most popular option.
Who Has the Best Free Checking Account?
This is a good question, but a challenging one to answer. It really comes down to your specific needs. Accounts are often advertised as “fee-free,” but that could just mean no monthly fees, which are kind of “catch-all” service fees. They still might charge foreign transaction fees, overdraft fees and even lost debit card fees.
Think about your lifestyle. Do you travel abroad regularly? Look for an account with no foreign transaction fees. Have you paid one too many overdraft fees? Avoid accounts that overcharge you for those mistakes.
But there’s more to a checking account than being fee-free. Do you want a high interest checking account? Are you interested in a free checking account with a highly rated mobile app? Do you want to be able to link your checking account to a savings account? How important is easy ATM access to you? Would you benefit from early direct deposits?
There are so many factors to consider. Our rankings include the best of the best, but you’ll want to use the table above to zero in on the checking account that is right for you.
Can I Open a Checking Account With No Money?
Many banks require a minimum deposit amount when opening a new account, and others still have minimum balance requirements. That said, you can find banks with no minimum deposit at opening and no minimum balance. So yes, some banks do allow you to open a checking account with no money.
How Do I Deposit and Withdraw Money With an Online Checking Account?
Depositing checks at online banks is easy. Any account worth considering will have a mobile check deposit feature that allows you to take pictures of the front and back of the check. Funds will not be immediately available when you use this option, so hold onto the paper check until the money has cleared.
If you have another savings or checking account with a physical bank, most online banking accounts will allow you to connect the two accounts so that you can transfer funds. Having an online account with good rewards that is connected with a brick-and-mortar bank that is close to your home makes depositing funds easy.
To deposit cash, just go to an ATM within your online bank’s network. You can also buy a money order, which will carry some level of fee, albeit a minimal one.
Withdrawing money from your online bank account works similarly. You can go to an ATM that is in network for free withdrawals. You can also transfer money to a connected account and withdraw in person. Finally, online checking accounts should come with debit cards, which you can use to spend your money.
Are Online Checking Accounts Safe?
Yes, online banks are safe. Choose a bank that is insured by the Federal Deposit Insurance Corporation (FDIC) or a credit union that is insured by the National Credit Union Administration (NCUA). Not sure whether you should go with a bank or credit union? Check out the pros and cons of banks and credit unions before making a decision.
Secure online banks will also offer account security features like multi-factor authentication and biometrics.
Tips for Choosing the Best Online Checking Account
Still not sure which online checking account to choose? Here are a few tips that might help.
Think About Your Needs
Most online checking accounts — especially the ones on my top nine list — offer some combination of good perks, though they might be missing out on others. Ultimately, you have to decide which benefits are more important to you.
Are you looking at your checking account as a small but smart investment strategy? Go with an account with a higher APY. Do you regularly rely on cash when traveling? Look for an online bank without ATM surcharges and that reimburses you out of network.
You should also consider whether banks or credit unions are the right option for you.
You don’t need every feature, so think about your needs before choosing an account. Opening accounts with multiple institutions could help you secure the best features.
Maintain More Than One Account
You don’t have to have all your accounts through the same financial institution. You can start a savings account at a local credit union, sign up for an online checking account for the high APY and easy access to ATMs and utilize a national brick-and-mortar bank for your car loan.
Many of those traditional banks and credit unions also offer their own online bank accounts for a “hybrid solution” that gives you in-person access to assistance and that still offers the benefits of an online account.
Know What You’re Signing
Before signing with an online checking account — or any account with any financial institution — read the fine print. Closely.
APYs that sound too good to be true may only apply for a set amount of time or under set conditions; ordering checks in the mail or wiring money may cost an unexpected fee; and foreign transactions may be free, but foreign ATMs may include a fee.
Reading the fine print may also help you discover other benefits (like no wire fees) that may be important to you but that are not commonly advertised.
Timothy Moore is a market research editor and freelance writer covering topics on personal finance, careers, education, pet care and automotive. He has worked in the field since 2012 and has been featured on sites like The Penny Hoarder, Debt.com, Ladders, Glassdoor and The News Wheel.
When inviting new tenants into your rental property, the last thing you want are surprises. Knowing who you’re renting to, their criminal and eviction background, and their ability to pay rent on time is essential, which is why requesting a tenant screening report is effort well spent.
Not all tenant screening services are created equal, though. The Fair Credit Reporting Act (FCRA) allows tenants to sue landlords if their applications are rejected due to inaccurate or illegally reported information, so it’s best to invest in a service that you trust to source information appropriately.
These are the best tenant screening services for landlords in 2021 and what each offers so you can make sure you’re getting the accurate information you want.
What Are the Best Tenant Screening Services for Landlords?
While many of the tenant screening services on this list provide similar basic screening reports, some offer more flexibility in cost, helpful tools, and added security than others. Here’s a breakdown of the six best tenant screening services for landlords:
1. Avail
If you want to keep track of all pieces of the property management puzzle, consider starting with Avail. You can use Avail just for tenant screening reports, or as a turn-key solution for the whole rental management process — including listing your property, drafting state-specific leases, collecting rent, and more.
More than other services on the list, Avail is designed to make your applicant your partner throughout the screening process, reducing your workload and increasing the likelihood you’ll end up with qualified leads whose interest is sincere. Tenant rental history, job history, and income verification are free, and you can decide which additional screening reports you want to add, along with who pays for the reports.
Applicants’ personal information, such as social security numbers, are secured on the platform so you don’t have to worry about being the keeper of sensitive information.
Differentiator: Includes reference checks from prior landlords and provides all the tools to easily move forward with a tenant you like, including leases and rent collection.
2. RentPrep
Like many services on this list, RentPrep offers a basic screening report package and a more robust version. Each package also comes with the option to add on extra reports a la carte style, including income verification.
Its basic version is the most affordable screening on the list at $18.95. At that price, you get a rental background check that includes identity verification, an evictions and bankruptcies report, and information on any judgments or liens against the applicant.
The information is pulled from databases, independently verified by RentPrep and does not require tenant involvement, and you’ll get results within an hour of your request.
However, for that rate, you sacrifice getting a credit report or a criminal history, both of which are standard in basic packages from other services on the list.
Differentiator: The lowest-cost basic option, but without full credit or criminal history reports.
3. National Tenant Network
If you’re a data wonk and want to be more hands-on with choosing your own slate of reports, National Tenant Network could be a good choice. The service is mostly a la carte, with a wide selection of reporting options including reports not offered by other services, like Business Credit Analysis and Retail Credit Analysis.
Although one-off reports are available, a membership (a one-time payment of $35) gives you access to screening resources, tenant management tools, and a slate of screening reports (individually priced) so you can tailor your screening and management process to your needs.
Differentiator: Most customizable reporting options (with a membership fee).
4. Cozy
Cozy, now Apartments.com rental solutions, is designed to make the full tenant management process more transparent and efficient. The credit and background checks by both services are similarly detailed and shared with applicants and landlords alike, but there are two main differences:
Apartments.com charges applicants for screening reports ($24.99 for a background check and credit report bundle), while Avail provides the option for applicants or landlords to foot the bill.
Avail includes prior landlord references in the background check, while Apartments.com does not.
Cozy used to directly offer renters insurance policies, but tenants will now need to find a new provider for renters insurance on Apartments.com. These tenant screening services are currently not offered to landlords with commercial properties in their portfolio. .
Differentiator: Landlords that previously used Cozy to manage their residential properties can access more tools on Apartments.com.
5. MyRental
If you’re the kind of landlord who wishes you could poll an audience of your peers, MyRental might be a helpful platform. The site’s screening reports focus on presenting applicant analysis, which can help take some of the guesswork out of evaluating leads.
In addition to providing the applicant’s TransUnion credit score, MyRental’s premium report takes data from credit checks and background checks for your applicant and assigns them a SafeRent Score between 200 and 800. The higher the score, the stronger the applicant. The site also shows you how that applicant’s score compares to other renters in the area and the percentage of landlords who have accepted applicants with similar scores.
Note that landlords submit applicant info and pay for the basic package. The premium report asks applicants to submit details themselves and the landlord can choose who pays.
Differentiator: Uses a proprietary risk-assessment model to help you evaluate applicants quickly, but only the premium package offers credit report and SafeRent Score.
6. SmartMove (via TransUnion)
SmartMove offers the same level of detailed credit, criminal, and eviction checks as other sites on the list, but it goes a step further on the financial side with an Income Insights Report.
As a service by TransUnion, SmartMove emphasizes getting an accurate understanding of your applicant’s financial picture — including analysis to determine whether their self-reported income is accurate, or if you should collect more information.
Similar to Avail, a tenant initiates SmartMove screening reports themselves, adding an extra level of security by not passing sensitive information (like their social security number) to the landlord.
Differentiator: Can alert you to an applicant who may be less than truthful about income.
Start Screening Tenants With Avail
Thorough tenant screening is the first and most important step in finding a tenant who will take good care of your unit. Learn more about important things to look out for when screening tenants or create an account with Avail to start the free tenant screening process today.
We get it, HGTV has got us all thinking maybe the idea of a fixer-upper might just be something we want to do. If you can handle living through a renovation we are here to show you just what you can do with a fixer-upper of your own. These before and afters might just have you thinking you too should jump on this trend, and build some immediate equity into your new home. Let’s start out simple and move into the slightly more complicated renovations…
Modern Farmhouse Powder Room
Purple people eaters might have lived here before we got started! This space was a slight color shock but nothing that some paint and statement wallpaper cannot fix. We also changed the floor stain throughout the space, swapped the vanity, and installed new lighting and all the fixtures to have another complete transformation.
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After
Modern Neutral Master Bedroom Retreat
The before photo on this one has you feeling like your walking into an early 90s dream bedroom with the custom wallpaper and dark burgundy walls low ceiling fan. For this fixer-upper, we started by swapping out the dated and dirty carpet with new hardwoods. We then removed the wallpaper, primed the walls for paint, and added a neutral color palette with whites, grays, and tans. Instead of a wallpaper accent wall, we added a custom textured wall and installed built-ins and artwork from travel to add a more personal touch. To elongate the room we ran a faux wood beam and brought in a modern ceiling fan to continue to have air circulation without distracting from the overall ascetics of the space.
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After
Modern Farmhouse Entryway/Laundry Room
A green haven was presented to you as you stepped into this entryway/laundry room! We truly believe everyone needs a dumping ground in their home. A place where all of your things can live without feeling as if you made a complete mess of your home. Mudroom built-ins have quickly become one of our absolute favorite solutions to a space that is not being utilized to its fullest potential. Talk about the best way to use every single inch of your space. Many homes have rooms with dual purposes and this one isn’t short on that! The laundry room directly across needed a facelift with storage options and functionality! Adding uppers, creating a custom folding table, and building two side cabinets for storage and sorting completed this space.
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Modern Boho Basement Bathroom
This fixer-upper took some dreaming to get to! Can you see it with the before photo? We mapped out the space with tape to help you see what we see. All new everything. For this space, we created a bathroom where one never existed, leaving a ton of space for relaxation and play for both kids and adults. Knowing we were working in a basement lead us to a light and airy palette.
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Attic to Master Suite Retreat
Taking an attic space from a bedroom to a master suite involved many rounds of edits to land on the best space planning option without actually tearing the roof off! In this attic, we ripped down all of the walls, then added one new one to create a much-needed master bathroom space. We then extended the floor a foot and a half over the staircase, allowing for more space on both sides of the king bed. All new HVAC, electrical, plumbing, drywall, flooring, paint, railing, and a massive custom built-in wardrobe brought this space from drab to fab!
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Open Floor Plan Modern Farmhouse
Let’s walk into your typical 1980s kitchen complete with more golden oak that you know what to do with! We are thinking of an open-concept floorplan with this one. To make these dreams a reality we needed structural support, rounds of design edits and six weeks of in-progress hard work and dedication from our team! But this space couldn’t look more opposite of the one we started with…now we just need to recreate it in our home!
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Important things to note about each of the above renovations. We are a design-to-build team which means we come into people’s homes and help to make their dreams a reality! Months and months of planning were involved before we ever started demo on each and every one of these projects. Prior to any renovation begins we have all material, product and design elements sourced, purchased and ready on site. All the little details matter to keep a project moving in a timely fashion! It’s what we do for a living!
If you’re in the market to find your next fixer-upper, check out Homes.com where you can search for homes the simply smarter way!
Michael and Danielle Gutelli
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Danielle and Michael Gutelli creators and owners of Clark + Aldine, a residential design to build team specializing in home design, customization, and styling. Together with their two little dudes, they are helping people experience life by looking at existing space in a completely new way and offering solutions for a more functional and purposeful space for their clients. On their blog they share content related to home design, decor and styling, DIY tips, and how they manage all the things while prioritizing time with their family, traveling and embracing the everyday moments life brings them! Follow their journey at clarkandaldine.com or on Instagram, Facebook and Pinterest.
Creating a safe home for the elderly people in your life is crucial. Household places and items that used to pose no problem may now be difficult or, worse, dangerous. These tips will help you ensure that your home is as safe as possible.
1. Fall-proof your home: Falls are the number one cause of injury among the elderly, so preventing falls should be the first priority. Install non-slip strips on floors, steps, and showers or tubs. Arrange your furniture in a way that will open up walkways, and make sure staircases have handrails on both sides.
2. Intercoms and alert systems: Having a medical alert system along and intercoms around the home will ensure a higher degree of safety. Having access to other forms of communication is valuable If there is an emergency and someone can’t get to the phone.
3. Double locked doors: Having doors that lock both from the inside and outside is very smart, especially on bathroom doors. If someone falls while in the bathroom or bedroom, and the door is locked, it can pose a dangerous situation. When you have a door that can be opened from the outside as well other people can come in to help.
4. Well-lit areas: It’s important to keep your home as well-lit as possible. Having light in areas such as staircases, hallways, and on the front porch is essential to safety. Being able to see exactly where you’re walking and what you’re doing can prevent falls and other injuries. Additionally, make sure bedrooms and bathrooms have automatic night lights.
5. Shower chairs: Install shower chairs, bath benches, and grab handles in the bathroom. Unfortunately, bathing increases the risk of slipping and falling but this precaution greatly minimizes the potential for injury.
6. Prevent accidental scalding: People over age 65 are four to five times greater to experience a fatal injury from a burn or scald. Turn back the water heater to 120 degrees F to help ensure that there is no way anyone can get burned.
These small changes can make a big difference in creating a safe and comfortable environment for elders.
If you run a small business on Etsy, it’s a good idea to be on top of Etsy shopping trends and best-selling products, to give your business the best chance of being successful on the platform! Use this round-up of 15 profitable handmade products you can sell on Etsy to brainstorm new ideas for listings and inspire your creativity.
Don’t forget to stay on trend with clear, bright product photos, and saturate your listings with lots of lovely keywords that shoppers are using!
Profitable Handmade Products for the Home
Mushroom Cushion
Mushroom cushion by Save Our Planet Clothes
Inspired by the popular cottagecore aesthetic, mushrooms are a charming motif that is popping up all over Etsy at the moment. Etsy has reported a 758% year-on-year increase in searches for “mushroom cushions” and cushion cases, but all forms of mushroom home décor are proving popular with shoppers. Take advantage of this trend by selling your own sewn mushroom-themed pillow covers!
Wavy Candle
Wavy candle by LOFT The Label
Unique and wiggly shapes are also showing up all over trending home décor. Specifically, there has been a 28,858% increase in searches for “wavy candles”. Can you create some fun, uniquely shaped candles? Or apply these fun wavy shapes to other product ideas to take advantage of this trend.
Bird Feeder
Bird feeder by Suburban Woodcraft
Following the impacts of being at home, and people wanting to spend more time outside with loved ones, shoppers are searching to build lovely outdoor spaces in their gardens. Specifically, 247% more searches for “bird feeder” have been reported so far this year. Why not try crafting your own unique bird feeder to sell on Etsy?
Halloween Décor
Halloween Print by Honey Plum Paper Co.
Halloween is just round the corner, and shoppers are already thinking about it! There has been a 59% increase in searches for “Halloween outdoor décor” as well as an increase in “Halloween items”. Think prints, bunting, and spooky candle holders.
Profitable Handmade Products to Wear
Matching Sets
Matching set by Baby Decore Boutique
What’s cuter than mini and Mom matching? Pick out colourful prints and match an outfit for Mom and an outfit for baby, and tap into the 86% increase in searches for “matching sets” on Etsy. Alternatively, think about creating matching sets for siblings, pets and their owners, or bridal parties.
Regency Gowns
Dress by Lela Silk
Channelling their inner Bridgerton Regency vibes, shoppers have been all over this romantic trend. Add a modern twist with embroidery and cottagecore details. Etsy has reported a 2,164% increase in searches for “Regency gowns”. If you have the ability to sew, consider making this your niche!
Striped Shirts
Striped shirt by Art Disco
Bold, colourful and patterned clothing is in! 54% more shoppers have been looking for “striped shirts” on Etsy, while there has been a noticeable increase in retro, floral and checkerboard designs on shirts, dresses and jumpsuits.
Floral Mask
Mask by Modern Masquerade
With many people still choosing to wear masks or in a place where they are mandated, they are still hugely popular on Etsy at the moment. Floral designs seem to be most profitable, with 45,598 searches for “floral face masks” on Etsy in the first three months of this year. Designs featuring sunflowers are especially prominent.
Personalized Apron
A great idea for a gift, Etsy has seen a 108% increase in searches for “personalized aprons” on the platform. Can you add your own special twist or design to make yours stand out?
Profitable Handmade Products for Children
Ceramic Kits
Photo by The Pottery Tree Gifts
A fun and practical project for the whole family to get involved in, “ceramic kits” have seen a 140% increase in searches. Offer a from scratch project, or create a product like a mug or trinket dish with all the kit needed to paint a beautiful design.
Halloween DIY Kits
Pumpkin crochet kit by Little Conkers
In a similar vein, shoppers are looking for fun Halloween DIY kits and handmade art projects, as proved by a 1,368% increase in searches. Kid-friendly crafts and paint-by-numbers style kits will attract families who want to keep the kids busy on the weekend!
Custom Stickers
Sticker by Werka Co
Ideal for decorating diaries and school planners, stickers are always a popular product, especially those aimed at kids. While there has been a 92% increase in searches for “custom sticker”, you can also tap into searches for “sticker packs”, “vinyl sticker” and “cute sticker”.
Birthday Banners
Birthday banner by Hooray Days
People are constantly looking for fun ways to make birthdays special for young children. Beautiful decorations can add that magical touch to their big day! Etsy has reported a 68% increase in searches for “birthday banners”.
Initial Notebooks
Initial Notebook by Masons Jars
Did someone say back to school? All kinds of stationery and school supplies are flying off the shelves at the moment, but Etsy has noticed a 116% increase in searches for “initial notebooks” – showing a common trend of shoppers searching for unique and personalised twists on a popular product.
Plus…Profitable Handmade Products: Gift Ideas for Men
Leather Cord Organizer by Minustudio.co
Etsy has noticed an increase in male shoppers on their platform, creating a gap in the market for gift ideas that appeal to men. Think birthdays, groom’s parties, and anniversaries. Tap into the 75% increase in searches for “best men gifts” with practical products like keyrings, mugs and prints.
Pumpkins, cozy sweaters, and falling leaves. Fall is almost here (the first official day is September 22nd), but you still have time to prepare for the new season in a big way.
Here are four ways to get your home ready for the fall.
1. Clean your gutters:Hire someone to clean out you clogged gutters or do it yourself. Watch Lowe’s video and read their articleto learn how to clean your gutters.
2. Fix any drafts: Check your windows and doors for any drafts. Hire someone to fix any problems or fix it yourself. This Old House has tips for fixing drafts without breaking a budget.
3. Buy a rake or leaf blower: Have all the necessary leaf removal tools on hand before the leaves start to fall. Get ready to jump into piles of leaves!
4. Clean the fireplace: Have the fireplace inspected to make sure it’s safe to use when the temperature starts to drop.
Now that you’re done, sit back, relax, and enjoy a hot cup of tea and your favorite pumpkin flavored pastry.
