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.
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.
Bringing home a new addition to your family is one of the most exciting moments of your life. Savor each and every day with your little one in a nursery that your family will enjoy.
Here are our style tips and nursery essentials:
Color Palette: Colors evoke emotions. Surround your baby with pastel colored walls, furniture, and bedding to create a calm, safe, and soothing environment (Custom Home Group).
Crib: A comfortable and safe crib is essential for any nursery. Choose soft, plush bedding to increase the likelihood that your baby (and you) will get a good night’s sleep. You’ll also need bumpers and a comfortable mattress. You may want a crib mobile to help your baby fall asleep (and be entertained if he or she wakes up during the night).
Chair: We recommend having a comfortable chair or small couch so that you have an area to sit with your baby.
Bookshelf: Keep picture books on a bookshelf because, as a new AAP policy recommends: “pediatric providers advise parents of young children that reading aloud and talking about pictures and words in age-appropriate books can strengthen language skills, literacy development and parent-child relationships” (Parents Who Read to Their Children Nurture More Than Literary Skills, Lori O’Keefe). You and your child will enjoy reading together, and the time you spend will introduce a love of reading at a young age.
Storage Space: If your baby has toys and stuffed animals, keep clutter at bay by storing them in a trunk, storage box, or large basket. This will make the room cleaner and safer (as your baby starts to explore) Plus, as an added bonus, it will also make the room feel larger!
Safety Essentials: Buy a baby monitor, night light, outlet covers, and other items to baby-proof your home.
Dresser: Keep your baby’s clothes in a dresser and use a drawer for diapers and changing table necessities. Buy a changing table pad for the top of the dresser. Once your child is older, he or she can use the dresser, meaning you’ll have one less piece of furniture to buy.
Rug: A soft rug will give your baby a safe, soft, and comfortable place to play.
Gallery Wall: Set up a gallery wall with your favorite art, prints, and photos. We recommend putting together a wall of your favorite family photos!
These tips will help you to create a nursery where your child can grow, play, learn, and (hopefully) sleep through the night.
Alliant Credit Union is a not-for-profit, member-owned financial institution that has been around for more than 80 years.
Though technically located in Illinois, Alliant Credit Union is open to members nationwide. And with more than $12 billion in assets and 500,000 members across the country, Alliant is not just the largest credit union in the Prairie State but also one of the largest credit unions in the entire country.
Before we dive into our Alliant Credit Union review, check out this quick refresher on what differentiates a credit union from a traditional bank — and why you should consider going this alternate route for your banking needs.
In this review:
What Is Alliant Credit Union?
Alliant Credit Union is an NCUA-insured (National Credit Union Administration-insured) banking institution with online access for members nationwide. In addition, Alliant Credit Union offers a network of 80,000 surcharge-free ATMs across the country.
While most credit unions require you to meet at least one of their strict eligibility requirements (often location-based), Alliant makes it easy to join. Although it does have the typical eligibility requirements (member of a partner organization, relative of a member or located in a specific community), the online financial institution also allows you to become a member if you join Foster Care to Success (FC2S); joining costs $5, but Alliant will gladly pay the fee for you.
Alliant has won a number of recent awards, such as MONEY’s Best Credit Union of 2019, My BankTracker’s Best Credit Union of 2020 and Nerdwallet’s Best Bank for Online Experience of 2020.
Pros
Easier to meet eligibility requirements than it is at other credit unions
No monthly maintenance fees
No minimum balance fee for checking accounts
High APYs for checking and savings accounts
Access to 80,000 ATMs and a $20/month refund for out-of-network ATMs
Supplemental savings accounts for easy money organization
A highly rated mobile app and easy-to-use website
Cons
High fees for overdrafts with no daily limit
Minimum balance requirement for savings account to earn high APY
No shared branching with other credit unions and only two physical locations (both in Chicago)
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Banking with Alliant: How We Rate It
Though Alliant offers a full suite of products, this Alliant Credit Union review primarily tackles the checking and savings accounts in all their flavors. However, we do include some information regarding other banking products, such as custodial accounts, certificates of deposit (CDs), personal loans, auto loans, mortgages, IRAs and life, auto and homeowners insurance.
Alliant Credit Union Review: Overall Account Summary
APY
Fees/Requirements
What We Like
High-Rate Checking Account
0.25%
No monthly maintenance fees; no minimum balance; does have overdraft and foreign transaction fees
$20 ATM reimbursement; lack of fees
Teen Checking Account
0.25%
No monthly maintenance fees; no minimum balance; does have overdraft and foreign transaction fees
Personal finance management app; gives joint ownership to parent/guardian
High-Rate Savings Account
0.55%
No monthly fee with eStatements
Supplemental savings account for easy organization; 80,000+ ATMs in-network
Kids Savings Account
0.55%
No monthly fees with eStatements
Gives joint ownership to parent/guardian; teaches kids about money management
Checking: High-Rate Checking Account
Grade: A-
Alliant Credit Union’s High-Rate Checking account is miles ahead of its competitors in terms of APY. When you open a high-interest checking account, you’ll get a 0.25% APY — that’s 8.3 times the national average. It also pays out a 0.25% monthly dividend when you receive eStatements and receive one electronic deposit per month.
There is no minimum balance to open a High-Rate Checking account with Alliant, and you won’t have to worry about monthly maintenance fees either. At sign-up, Alliant will provide you with a Visa debit card and a free first box of checks.
Unfortunately, not everything comes free with Alliant’s checking option. There is a 1% foreign transaction fee when using the Visa abroad, and Alliant charges a $25 non-sufficient fund fee every time you overdraft. (Many other financial institutions cap the fee at once per day.)
You can get free Overdraft Protection to prevent the associated fee, but you’ve got to opt in for it, and you must have enough in your connected Alliant savings account to cover the purchase. Alliant also offers Courtesy Pay to cover your expenses when your card would otherwise be declined (or, if you’re old-school, when your check would otherwise bounce), but there is a $28 fee associated with this. Thus, we do not encourage you to rely on this option.
Though Alliant only has two physical locations (both in Chicago) and doesn’t participate in shared branching, it makes depositing and withdrawing money very easy with a network of 80,000 ATMs across the US. And if for some reason you can’t find an in-network ATM, Alliant will spot you the surcharge — up to $20 per month.
In addition, Alliant Credit Union’s High-Rate Checking account offers fraud protection and mobile check deposit through the Alliant Mobile Banking app (more on this below).
Checking: Teen Checking Account
Grade: A-
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Alliant is also a frontrunner for best online savings account thanks to its high APY and dividend rates (0.55%), which is roughly 7 times higher than the industry average. You’d be hard-pressed to find an APY that high at an Alliant Credit Union also offers a teen account to help teens learn smart money management. Only members between ages 13 and 17 are eligible, and the parent (who must be a member) acts as a joint owner of the account.
The account offers the same APY and has the same perks and drawbacks as the regular High-Rate Checking account. The account makes it easy to transfer money to your teen, and it also includes a personal financial management app so your teen can review their spending patterns and improve their financial acumen.
Savings: High-Rate Savings
Grade: B
brick-and-mortar credit union or bank.
To open an account, you’ll need to deposit $5, but Alliant will pay it for you — so really, it’s like the credit union pays you to open an account. However, if you want to collect that 0.55% APY, you’ll need more than that $5. In fact, you must maintain an average daily balance of $100 or more in the High-Rate Savings account to qualify for the high APY.
There’s also fine print when it comes to monthly maintenance fees. In theory, you can get Allian’ts high-yield savings account with no monthly fees, but that’s only if you opt for eStatements. If you want paper-based statements, you’ll pay a monthly $1 fee.
Like with the associated checking account, you’ll have access to 80,000 fee-free ATMs with the high-yield savings account, and you’ll also qualify for up to $20 in ATM fee reimbursements, should you need to bank at an out-of-network location. Also like the checking, the savings account includes mobile check deposit and easy 24/7 access.
A bright spot for the high-yield savings account is its supplemental savings account option. You can open up to 19 supplemental savings accounts to organize your savings into various buckets. This can be helpful when you have multiple savings goals, like emergency savings, travel, a house down payment or a wedding.
Savings: Kids Savings Account
Much like the Teen Checking account, Alliant’s Kids Savings Account is designed to teach your children about money management. This account is ideal for children who are 12 or younger. As a parent, grandparent or guardian, you will be the joint owner on the account and thus must be a member of the institution.
The Kids Savings Account has the same 0.55% APY as the High-Rate Savings and boasts no monthly fees (again, assuming you select eStatements).
Convenience: Mobile-Friendly, Plenty of ATMs, But No Shared Branching
Grade: B
With a network of 80,000 ATMs nationwide, you are never far from your money — and even when you are, Alliant will pay up to $20 in out-of-network ATM fees each month.
App-based banking and the online website make managing your money from your couch or on the go easy and intuitive. In the next section, you can find out more about the mobile app.
If you enjoy the customer service afforded in physical locations, however, you will find this option isn’t for you since it is 100% online.
Mobile Banking: Alliant Mobile Banking App Review
Grade: B+
Alliant Credit Union operates as a mostly online institution. That means its website is wicked fast and easy to navigate, and, more importantly in 2020, its app is responsive, free and easy to learn. You can download the app for Android and Apple devices. (Right now, there is no support for Windows devices; Windows users who want a mobile app for their bank of choice should instead consider the highly rated Ally Bank.)
That said, the app is top-notch when run on iOS and Android operating systems. The app allows you to view your balance (before you even log in!), log in with your fingerprint or face ID, deposit checks, reorder accounts, transfer money, set up external accounts, pay monthly bills (and establish new payees), set travel notifications, find surcharge-free ATMs and track your finances using the personal financial management tool.
At the time of writing, the Alliant Mobile Banking app had a 4.7-star rating on the App Store and a 4.5-star rating on Google Play.
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Alliant Credit Union Account Fees
While Alliant Credit Union positions itself as mostly fee-free, there are a few fees to keep in mind when opening an account:
The High-Rate Savings option carries a $1 paper statement fee each month if you don’t opt for eStatements.
The Visa debit card that accompanies the High-Rate Checking account has a 1% foreign transaction fee. If you travel often, consider an account with a foreign transaction fee-free card or get a separate credit card with free foreign transactions.
If you don’t have Overdraft Protection (or even if you do have Overdraft Protection but don’t have the sufficient funds in the High-Rate Savings account to cover the charge), you will pay a $25 fee every time you overdraft with no daily limit. If you use Courtesy Pay, it’s $28 per item.
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Other Alliant Credit Union Products
Carmen Mandato/The Penny Hoarder
While this review focuses on savings and checking options at Alliant, you can find information on additional products from the online credit union below. Check out the Alliant website for more details.
Credit Cards
Alliant Credit Union offers three credit card options:
Visa Platinum Rewards
Visa Platinum
Visa Signature
Certificates of Deposit
Alliant Credit Union makes investing in certificates of deposit (or CDs) easy. Beginner investors can learn more about CDs (and the CD ladder investing strategy) in this intro to CDs.
Alliant offers multiple CD options: Certificate, Traditional IRA Certificate, Roth IRA Certificate and SEP IRA Certificate, each with varying rates (from 0.80% to 0.90%) and terms (from 12 months to 60 months).
Custodial Accounts
You can also open a Uniform Transfer to Minors Act (UTMA) account at Alliant; these are colloquially known as custodial accounts. These accounts are a great way to jump-start your child’s savings; you’ll manage the account in its entirety until your child reaches adulthood.
What are the benefits? The earnings are taxed at the child’s rate, rather than your own, and the account earns the same 0.90% APY that the High-Rate Savings option does.
Auto Loans, Personal Loans and Mortgages
Looking for a lender? Getting a loan from the institution with which you do your standard checking and savings banking can be convenient. Alliant offers competitive rates for its vehicle (auto and RV) loans, mortgages (and home equity line of credit) and personal loans.
Auto loans qualify for a 0.50% rate discount when you use the Alliant Car Buying Service.
Mortgages are available with low and now down payment programs.
No collateral required for personal loans with current rates ranging from 6.24% (12-month terms) to 10.24% (60-month terms).
Investment Options
You can save for retirement with Alliant Credit Union by opening a Traditional IRA, Roth IRA or SEP IRA. If you want to create a nest egg for your loved ones after you pass, you can also open a trust account.
Insurance
While Alliant Credit Union is most widely known for its checking and savings accounts, the financial institution also offers life insurance (term life insurance, accidental death insurance and whole life insurance), homeowners insurance and auto insurance.
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Alliant Credit Union Customer Service
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Alliant Credit Union offers around-the-clock support. Here are a few key ways to contact Alliant:
By phone: Call 800-328-1935. (International number is 773-462-2000.)
By contact form: Try this form for general questions.
On Twitter: @AlliantCU
Alliant’s website also has a “Send Us an Email” option, but when you click it, it reloads the same page.
Find more contact info here.
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Is Alliant Credit Union Right for You?
Year after year, Alliant Credit Union lands on personal finance sites’ lists for top checking and savings accounts (including ours!), and it’s clear why. Both its checking and savings accounts offer competitive APYs and dividends, it has a leading number of in-network ATMs, its smartphone app is top-notch and it has a broad collection of other banking products.
Trying to decide if Alliant is a good fit for you?
You’ll probably love Alliant Credit Union if:
You want a high-interest checking and savings account with one institution.
You’re tech-savvy and appreciate a good mobile offering.
You have multiple savings goals you’d like to organize within your account.
You live in Chicago.
You’re comfortable with mobile check deposits.
Think twice before signing up with Alliant Credit Union if:
You like in-person banking.
You need small business banking.
You deposit cash regularly.
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Frequently Asked Questions (FAQ)
When researching Alliant as a potential credit union, customers commonly ask these questions:
Is Alliant Credit Union Good for Loans?
Alliant Credit Union is a top financial institution for loans thanks to its low fees and borrowing rates, as well as its flexible terms. Alliant has three credit card options, mortgage loans, car loans and personal loans.
Is Alliant Credit Union Real?
Alliant Credit Union is a legitimate online credit union insured by the NCUA. That means accounts are federally insured up to $250,000.
Does Alliant Credit Union Work with Bad Credit?
While Alliant Credit Union works with members who have low credit scores, these borrowers are likely to face much higher interest rates.
How Do You Qualify for Alliant Credit Union?
Becoming a member of Alliant Credit Union is quite simple. Like other credit unions, it has general eligibility requirements, like relative of a member, member of a partner organization or resident of a specific community), but you can also join simply by becoming a member of Foster Care to Success. Doing so costs $5, but Alliant will pay this fee for you. Back to Top ↑
Our Bank Review Methodology
n our credit union and bank account reviews, we analyze each institution’s APYs, customer service, mobile apps, fees (overdraft, monthly service, foreign transaction, etc.), minimum balance requirements, ease of ATM access, physical locations and more. In assessing how strong each financial institution is in these areas, we are able to assign letter grades for each type of checking and savings account available. In addition, we award a grade for convenience and digital banking.
Timothy Moore is a market research editing and graphic design manager and a 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.
