Kayode Iwamoyo

Best Checking Accounts in 2019 A checking account is a deposit account that is held at a financial institution that permits both deposits and withdrawals. Checking accounts are liquid and are accessible by using automated teller machines, checks, and electronic debits, and many other methods. Customers can set up checking accounts at the bank branches or through the website of a financial institution. You can also deposit funds as an account holder, by using ATMs, direct deposits and over-the-counter deposits. 10 Best Checking Accounts in 2019 A checking account varies from other bank accounts in that it usually permits for several withdrawals and unlimited deposits, whereas savings accounts tend to limit both. However, there are several features with fees, APY, reimbursements and many more that vary with each of these checking accounts. Below is a detailed description of each of the ​best checking accounts in 2019: 1.​ C ​ hime Spending Account It is very good for early direct deposit and check payments online. Chime is a checking account that largely goes without fees. It offers a uniquely termed spending account. Checks are part of this, but the check payments are drafted and then sent through the bank’s app or website to make it much less cumbersome than the traditional pen-and-paper method. It may be the most valuable for those who want to build up their savings. Chime helps you round up every debit card purchase made to the nearest dollar as a deposit directly to your savings account. One valuable feature is its early direct deposit, which grants account holders access to their funds from two days earlier than a standard check deposit. 2.​ S ​ imple Individual Checking account The simple checking account is very good for budgeting tools. It adopts a modern approach and is equal parts both a versatile checking account as well as a budgeting app. With it, you can set budgeting goals and also automate saving money to achieve those goals. There are also exactly no charges whatsoever for an overdraft, card replacement, monthly maintenance and many more. There is no requirement for minimum balance to open a Simple account. To get qualified for a 2.02% APY, you must open a Simple Checking Account and also Open a Savings Goal. The simple checking account also has an even higher 2.15% APY for all balances of $10,000 and above. 3.​ C ​ onsumers Credit Union Checking Account It provides unlimited reimbursement for all ATM fees. It supports online Banking and Bill Pay, also mobile banking, and doesn't demand a minimum balance. It offers services with over 30,000 ATMs & over 5,000 shared branches. You can earn Up to 5.09% APY with balances that are up to $10,000. Consumers Credit Union Checking Account does not charge any monthly maintenance fees for anything. You can even write unlimited checks and they refund fees charged by bank ATMs when you meet the minimum Rewards Checking requirements. They offer e-Documents (enroll and accept the disclosure), and you can make at least 12 debit card purchases summing to $100 or more every month. 4.​ A ​ lly Interest Checking Ally Interest Checking accounts are very good for saving money without having to pay any monthly maintenance fees. Previously, banks paid interest on checking accounts, currently, Ally maintains that by offering 0.50% on its interest checking accounts for those who can maintain a $15,000 minimum daily balance (apart from this, the account earns 0.10%). Ally also grants your wallet some reprieve by not placing demands of monthly maintenance fees or for checks. 5.​ A ​ lliant High Rate Checking Alliant High Rate Checking accounts are very good for High APY and monthly ATM reimbursement. Alliant’s marquee checking account delivers back at a decent rate, the bank’s 0.45% APY is paid in what can be called its monthly dividend and the requirements are greatly modest. All that is required of a customer is that they opt in to e-statements for their accounts, and also get one direct deposit made per month. There is no demand for any monthly service fee or a minimum balance requirement. The bank promises to reimburse up to $20 per month in out-of-network ATM fees that may be incurred by its clients, added to its network of 80,000 surcharge-free ATMs said customers can use. 6.​ C ​ harles Schwab High Yield Investor Checking Charles Schwab High Yield Investor Checking accounts are very good for no foreign transaction fees. The feature-packed Schwab High Yield Investor Checking yields a 0.15% APY. It doesn't charge any service fees, and there is no minimum balance required. Account-holders using their account’s Visa Platinum debit card do get their ATM fees fully refunded, including those incurred abroad. Schwab High Yield Investor Checking charges no foreign transaction fees on debit card purchases. All these make Charles Schwab High Yield Investor Checking one of the ​best checking accounts​. 7.​ A ​ spiration Summit Checking Aspiration Summit Checking accounts are very good for High APY and no ATM fees. It is a high yielder as it offers a 1% APY for a balance that is up to $10,000 or with has at least $1,000 in external deposits every month. This is a kind of set-it-and-forget-it account, it does not require any minimum monthly deposit or balance. There are also no monthly service fees but it requires a minimum opening deposit of $10. However, the greatest perk may be that it doesn't incur any ATM fees, both domestic and abroad. That’s quite rare among the top picks. 8.​ H ​ SBC Checking Account HSBC Checking Account offers 0.01% APY on balances above $5, the monthly fee is $3/month regardless of the available balance. It doesn't require a minimum balance and it charges a fee of $2.50 when using out-of-network ATMs. It is most favorable for those doing business internationally, have homes in many countries, or live an international lifestyle, the support of a global bank like HSBC could be well worth the high fees and fewer perks. Cons of HSBC offerings include its monthly fees, limited ATM reimbursement, and high foreign transaction fees. The perks get competitive when you’re at the Premier level, and you have a $100,000 balance. 9.​ C ​ apital One 360 Checking Account Capital One 360 has no monthly fee, no required minimum balance, and it supports mobile deposit. The APY for balances between $0 and $50,000 is 0.20%, while $50,000 – $100,000 is 0.75%, and balances above $100,000 is 1%. However, the ATM reimbursement charges up to $15 per statement, but no foreign transaction fees. There are few couples of branches or “cafes” in some cities. Receiving a 1% APY may seem nice but the Capital One 360 Checking tiers make it completely irrelevant by demanding $100,000 in a checking account anyway. 10.​ ​Chase Checking Accounts Chase Checking Accounts are categorized into three namely: Chase Total Checking, Chase Premier Plus Checking and Chase Sapphire Checking. There are no APY for the Chase Total checking accounts but the Premier and Sapphire receive 0.01% and charges Monthly fee of $12. However, it gets waived when you have $500 of direct deposits, a required balance of $1,500 at the beginning of each day, or an average balance of $5,000 overall your checking and savings accounts. For Chase Premier Checking account, a $25 fee is waived when you get an average balance of $15,000 overall your checking and savings accounts or a Chase mortgage that has linked payments. Whereas for Chase Sapphire Checking account, a $25 fee is waived if you get an average balance of $75,000 across your savings and checking accounts. It does not require any minimum balance but supports a mobile deposit. It charges no foreign transaction fees and they have lots of physical branches. Conclusion Many checking accounts are now available and you should understand that checking accounts offer some advantages over traditional banks. Check through the features, perks, fees and all the requirements for each of them, and choose the one that meets your needs. You enjoy a lot of financial benefits when you open the ​best checking account​ for yourself. Video: https://www.youtube.com/watch?v=l2jxwE27UlA References https://www.investopedia.com/terms/c/checkingaccount.asp https://money.usnews.com/banking/checking-accounts https://www.valuepenguin.com/banking/what-is-a-checking-account https://www.forbes.com/advisor/banking/best-checking-accounts/ https://www.nerdwallet.com/best/banking/checking-accounts https://www.iwillteachyoutoberich.com/blog/best-checking-account/ https://www.bankrate.com/banking/checking/best-checking-accounts/ https://www.fool.com/the-ascent/banks/checking-accountcs/ https://millennialmoney.com/best-checking-accounts/