For many college students, their default banking option while in school is a student checking account, which is typically free. Unfortunately, when you graduate you lose those benefits. Many student checking accounts will begin to charge you monthly maintenance fees unless you meet certain requirements.
So, where do you go from there?
Few young adults would turn to their parents for fashion or dating advice and, yet, one of the most common ways we’ve found young people choose their bank account is by going with whichever bank their parents already use. This could be a bigger faux pas than stealing your dad’s old pair of parachute pants.
The bank your parents use may carry fees or have requirements that don’t meet your lifestyle or budget, and make accounts expensive to use.
But where do you even begin to choose the right checking account?
When you’re nearing graduation, start planning your bank transition.
Many banks send a letter in the mail a few months prior to your expected graduation date informing you that your student checking account is going transition to a non-student account. If you’re not careful and you disregard the letter, you may be transitioned into an account that charges a fee if you don’t meet certain requirements.
You can always call the bank and ask to switch to a different account or you can choose a new account that offers more benefits, like interest and ATM fee refunds.
When you’re shopping around for a new checking account, there are several things you should look for to ensure you’re getting the most value from your account:
The best checking accounts will have a number of features that are both simple and low cost. For the top overall checking accounts, we chose accounts that have no monthly service fees, no ATM fees, refunds for ATM fees from other banks, interest earned on your deposited balances and with strong mobile banking apps. While there is no all-inclusive account that contains every benefit, the accounts below are sure to provide value whether you want a high interest rate, unlimited ATM fee refunds or 24/7 live customer support.
Monthly Fee |
Minimum Monthly Balance |
Amount to Open |
ATM Fee Refunds |
APY |
---|---|---|---|---|
$0 |
$0 |
$10 |
Unlimited |
2.00% APY on the balance of the save portion in your account. |
The Aspiration Spend and Save Account offers a wide range of benefits for account holders and has few fees. The amount to open is fairly low, and once you open your account there is no minimum monthly balance to maintain — though the more money you keep in your account, the more interest you’ll earn.
Another helpful feature is unlimited ATM fee refunds. That means you can either use in-network ATMs (filter by checking “SUM”) and avoid fees, or use any other ATM and be reimbursed for any fees incurred at the end of the month. If you’re looking for an interest checking account with no ATM fees, the Aspiration Spend and Save Account is a solid choice.
Monthly Fee |
Minimum Monthly Balance |
Amount to Open |
ATM Fee Refunds |
APY |
---|---|---|---|---|
$0 |
$0 |
$5 |
Up to $12 a month |
1.01% APY on all balances |
nbkc has several locations in the Kansas City region. Anyone can sign up for an account, however. This just means if you don’t reside nearby, you’ll have to rely on their online banking system.
The nbkc Personal Account earns interest on your balances and has no hidden fees. Typical checking accounts charge overdraft fees and stop payment fees, among others, but nbkc doesn’t.
The two fees that may apply are for less common transactions — $5 to send domestic wires and $45 to send or receive international wires.
You can use 32,000+ MoneyPass® ATMs in the U.S. for free, and if you use out-of-network ATMs you’ll be reimbursed up to $12 a month. This account is a good choice if you want a checking account that has minimal fees and earns interest.
Monthly Fee |
Minimum Monthly Balance |
Amount to Open |
ATM Fee Refunds |
APY |
---|---|---|---|---|
$0 |
$0 |
$0 |
Up to $10 per statement cycle |
0.10% on daily balances less than $15,000 0.60% on daily balances $15,000+ |
Ally Bank is an overall great online bank and their Interest Checking Account is a standout choice if you want to open an account without depositing any money. There are some standout perks with this card like 24/7 live customer care and the ability to send money with Zelle®.
There are also no ATM fees at U.S. Allpoint® ATMs, and you’ll receive up to $10 per statement cycle for fees charged at other ATMs nationwide. This account earns at a lower interest rate than the two mentioned earlier, but it’s still better than typical banks. Ally Bank’s Interest Checking Account provides account holders with a well-rounded experience and the ability to earn interest.
Check out our full list of the best checking accounts.
Free checking accounts are a great way to save on the monthly service fees many banks charge if you don’t meet deposit or balance requirements. The checking accounts listed below are all free, and if there are requirements, they’re minor like enrolling in eStatements or using a debit card. These accounts can be a good choice if you often have a fluctuating or low account balance and don’t want to worry about maintaining the requirements big banks impose to keep their accounts free.
Monthly Fee |
Minimum Monthly Balance |
Amount to Open |
ATM Fee Refunds |
APY |
---|---|---|---|---|
$0 |
$0 |
$0 |
Unlimited |
0.05% if qualifications are not met (2.01% up to $20,000 if you meet requirements listed below*) |
Bay State Savings Bank was founded in Worcester, Mass., and is an independent community bank with the goal of maintaining long-term relationships with consumers and giving back to the community via the Bay State Savings Charitable Foundation.
If you want a free account that is always free — meaning no requirements for you to meet — check out their the Free Kasasa Cash® account. But if you’re after a checking account that’s not only free, but also earns high interest, it’s worth fulfilling the following requirements:
There’s a small minimum deposit to open the account and you automatically earn interest on your balances.
By meeting the above qualifications, the balance in your account up to $20,000 earns 2.01% APY, and you also receive unlimited refunds of third-party ATM fees. If you fall short of the requirements that billing cycle, your money earns a comparatively paltry 0.05% APY and you’ll have to pony up $0.75 for each ATM transaction with a machine outside of the SUM® ATM network, plus pay whatever third-party fee the ATM operator charges.
Monthly Fee |
Minimum Monthly Balance |
Amount to Open |
ATM Fee Refunds |
APY |
---|---|---|---|---|
$0 |
$0 |
$10 |
Unlimited |
1.00% on balances from $2,500 to $99,000 |
Radius Bank is a community bank headquartered in Boston. The Radius Hybrid Checking account is free as long as you open the account with the required deposit and meet three simple requirements: Enroll in online banking, receive eStatements and choose to receive a debit card. Unlike other checking accounts that require you to make a certain number of debit card transactions a month, Radius Bank does not. In addition to simple requirements, there are unlimited ATM fee refunds at the end of each statement cycle.
Monthly Fee |
Minimum Monthly Balance |
Amount to Open |
ATM Fee Refunds |
APY |
---|---|---|---|---|
$0 |
$0 |
$1 |
Unlimited |
Does not earn interest. But it does offer 0.50% cash back if you meet requirements* |
Atlantic Stewardship Bank is headquartered in New Jersey and donates 10% of its profits annually to Christian and nonprofit organizations. Its Cash Back Checking account has a minor opening deposit and basic requirements for you to meet to get the added perks.
*When you make 12 debit card transactions each cycle and enroll in online banking and eStatements, you can receive unlimited ATM fee refunds and the chance to earn rewards at 0.50% cash back on debit card purchases.
Check out our full list of the best free checking accounts.
Since most checking accounts offer little to no interest, high-yield checking accounts are a great way for you to maximize the money that typically would just sit in your account without earning interest. These accounts often offer interest rates that fluctuate depending on how much money you have in the account. However, in order to earn interest, there are some requirements that you may have to meet such as making a certain number of debit card transactions and enrolling in eStatements.
Monthly Fee |
Minimum Monthly Balance |
Amount to Open |
ATM Fee Refunds |
APY |
---|---|---|---|---|
$2, waived if you enroll in eStatements |
$0* |
$50 |
Up to $25 per month |
4.25% APY on balances up to $3,000 2.00% APY on balances $3,000-$10,000 0.10% APY on balances over $10,000 (or on all balances if you don’t make 15 or more posted non-ATM debit card transactions per month) |
This checking account has a $2 monthly service fee, which can easily be waived if you enroll in eStatements.
*While the terms state a minimum balance requirement of $1,000 and a low balance fee of $8, the fee can be waived if you make 15 or more posted non-ATM debit card transactions per month.
To earn the top interest rate on your checking balance, you just need to make at least 15 or more posted non-ATM debit card transactions per month. There are numerous surcharge-free La Capitol ATMs for you to use, and after signing up for eStatements you can receive up to $25 per month in ATM fee refunds when you use out-of-network ATMs.
Monthly Fee |
Minimum Monthly Balance |
Amount to Open |
ATM Fee Refunds |
APY |
---|---|---|---|---|
$0, provided you meet qualifications. Otherwise $5 |
$0 |
$0 |
$10 per month |
4.00% on balances up to $30,000, 0.05% on portion of balances greater than $30,000 |
Another strong choice for recent graduates looking for a high-yield checking account is Orion Federal Credit Union’s Premium Checking account, which promises customers 4.00% APY on balances up to $30,000.
However this account comes with some caveats that prevent it from grabbing the top spot in our rankings. For one, while it’s nice to have a higher APY on balances over one or two thousand dollars, you probably shouldn’t keep tens of thousands of dollars in your checking account—especially as a recent graduate. There are better accounts for large balances, such as a CD or an IRA, where your funds can earn more for your financial future than even the highest-yield checking account.
You also need to keep in mind that because Orion FCU is a credit union, you have to jump through some additional hoops to access the high APY:
Monthly Fee |
Minimum Monthly Balance |
Amount to Open |
ATM Fee Refunds |
APY |
---|---|---|---|---|
$0 |
$0 |
$500 online, or $50 in person at a branch |
$25 per statement cycle |
2.75% APY on balances up to $10,000 and 0.50% on the portion of the balance greater than $10,000, provided you meet qualifications |
This Oklahoma-based bank provides one of the best high-yield checking accounts available for recent graduates, thanks to minimal requirements to earn a high APY on a larger-than-usual balance. The 2.75% APY may seem just okay when compared to the rates of other high-yield checking accounts, but the fact that All America Bank’s rate applies to balances up to $10,000 — the sky-high APY offered by most of its competitors usually fall off in the low four digits — make it a winner.
To earn that 2.75% APY, customers must meet the following requirements each billing cycle:
The bank has seven locations throughout the state of Oklahoma, where customers can deposit $50 in person to open this account. If you opt to open the account online, your initial deposit must be $500.
Check out our full list of the best high-yield checking accounts.
* Sponsors listed are Member FDIC or NCUA insured.
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