Opening a checking account is one of the major financial decisions you have to do. In order to make an informed decision, you have to research on the different options available to make sure that resources are maximized and optimized. After a toll of research and studies, we have come up with the Top 5 Best Checking Accounts for 2018.
These are the criteria that we use to consider which are the best checking accounts to use: no minimum balance, no monthly maintenance fee/s, no ATM fee/s, annual percentage yield, and perks such as free debit cards and free ATMs.
Here are the Top 5 Best Checking Accounts for 2018:
Bank of Internet USA. Considering the said criteria, Bank of Internet USA offers one of the best services to clients at a minimum to zero cost. They do not have minimum balance requirement, zero monthly maintenance fees, and they have free ATM disbursements. In addition, the bank offers an annual percentage yield of 0.50%.
Charles Schwab Bank. This bank does not require a minimum balance, and it does not collect any monthly maintenance fees. Also, the bank offers free ATM disbursements. The bank’s annual percentage yield is 0.20%.
Capital One Bank. Taking account the points to be considered, Capital One Bank does not have a minimum balance requirement and it does not require monthly maintenance fees. However, Capital One Bank collects ATM Fees from its clients.
Ally Bank. This bank offers similar perks with other banks namely: no required minimum balance, no monthly maintenance fees and no ATM fees. In addition, Ally Bank offers free Debit cards to its clients. The bank’s annual percentage yield is from 0.10%-0.60%.
Aspiration Bank. This bank offers an APY rate starting at 0.25% and if you have more than $5,000 within your bank account, they offer 1% annual percentage yield. The bank does not ask for any monthly maintenance fee and it does not have a minimum balance requirement and it reimburses all ATM fees worldwide.
Whether you are opening a checking account for business or for personal use, you would always opt for the checking account that will help you optimize your resources and make sure that everything is put to good use.