Money Analysed

The Best Banks for Managing Your Finances: Checking Savings and More

Best Banks for Checking Accounts

A checking account allows you to manage your finances on a day-to-day basis. It’s where you deposit your paycheck, pay bills, and handle other transactions.

Choosing the right bank for your checking account is crucial to your financial well-being. In this article, we’ll take a look at three of the best banks for checking accounts.

Current Bank

For families looking for an online-only platform, the

Current Bank could be the ideal choice.

Current Bank offers an early paycheck feature where you can get your money up to two days earlier than usual.

This feature can be helpful for those living paycheck to paycheck or for those who need to pay bills right away. There are no overdraft fees, and

Current Bank offers special accounts for teens, helping them learn about money management while ensuring they don’t overspend.

Chase Total Checking

Chase Total Checking is an excellent choice if you’re looking for a national bank and an upfront bonus. Chase offers a $225 cash bonus if you open a Total Checking account, provided you meet some specific requirements.

You must deposit $25 or more at account opening, set up and receive a direct deposit within 90 days, and keep the account open for six months. Chase has ATMs and branches nationwide, and they offer several credit cards with different perks and rewards.

Axos Bank Rewards Checking

If you’re looking for a checking account that rewards you for using your funds,

Axos Bank Rewards Checking might be the best option for you. This account offers a high-interest rate, with APY rates up to 3.30%.

There are no monthly maintenance fees, but there is a list of requirements for the highest APY. These include setting up at least $1,000 in direct deposits each month, swiping your debit card 10 times or more every month, and using the account’s bill pay feature at least three times a month.

Axos also offers a wide range of financial products, such as mortgages and personal loans.

Best Banks for Savings Accounts

A savings account is a crucial component of managing your finances. It’s where you put aside your money for future expenses, such as emergencies, college tuition, or retirement.

Finding the right bank for your savings account can help you maximize your savings and earn higher interest rates. Here, we’ll take a closer look at one of the best banks for a savings account.

LendingClub High-Yield Savings Account

The

LendingClub High-Yield Savings Account is an excellent choice if you’re looking for a high-interest rate along with a cashback checking account. LendingClub offers an interest rate of up to 4.25%, which is significantly higher than the national average.

Additionally, if you pair your savings account with LendingClub Rewards Checking account, you can earn 1% cashback on debit card purchases. However, you need to maintain a daily balance of at least $2,500 in the savings account to qualify for the highest interest rate.

LendingClub has no monthly maintenance fees, and they provide FDIC insurance up to $250,000.

Conclusion

Choosing the right bank for your checking and savings accounts is essential to your financial success. Each bank has its unique benefits and features, so it’s essential to choose one that fits your particular needs.

Whether you’re looking for an online-only platform, an upfront bonus, or high-interest rates, there is a bank out there that can meet your requirements. Before opening an account, make sure to compare features, fees, and requirements to ensure you’re making the best decision for your financial future.

Best Banks for Both Checking and Savings Accounts

Managing your finances requires more than just a checking account or savings account. Sometimes, you need both to keep your finances under control.

Here, we’ll take a closer look at three of the best banks that offer both checking and savings accounts.

Chime

Chime is a great choice for young adults looking for a hassle-free banking experience.

Chime has no overdraft fees, no monthly fees, and no foreign transaction fees.

Chime also offers direct deposit for early paychecks, which means you can get your money up to two days earlier than the standard payday. Along with its checking account,

Chime offers an automatic savings feature that rounds up every transaction to the nearest dollar and saves the difference.

This feature is an excellent way to start building your savings without even noticing the money leaving your account.

Green Dot

Green Dot is a bank that offers prepaid debit cards, and it is known for exerting interest on savings up to $10,000. The bank boasts of a cashback rewards program that allows you to earn up to 3% cashback on purchases made through the debit card.

Green Dot offers early direct deposit, which ensures that you get access to your paycheck as soon as it’s available. Additionally,

Green Dot offers a network of more than 90,000 retail locations where you can withdraw cash or make a deposit for free.

Overall,

Green Dot is an excellent option if you’re looking for a prepaid debit card that also helps you build your savings.

Aspiration

Aspiration is an online bank that caters to socially conscious customers.

Aspiration offers up to 5% cashback on purchases made through its debit card at Conscious Coalition retailers.

Conscious Coalition comprises small and medium-sized retailers who align with

Aspiration’s values and goals. Along with its checking account,

Aspiration offers a savings account with up to 3% APY, which is higher than the national average.

Aspiration prides itself on being environmentally friendly by providing customers with a debit card that’s made of recycled plastic. Additionally,

Aspiration has no monthly fees, and the bank donates a portion of its profits to charities that promote economic opportunity.

Best Banks for Other Accounts

Checking and savings accounts are not the only options available when managing your money. Here, we’ll explore two of the best banks for other types of accounts.

Wealthfront Cash Account

Wealthfront is a brokerage firm that offers a cash account to its clients. The

Wealthfront Cash Account is FDIC-insured and offers an impressive 4.55% APY.

This rate is significantly higher than the national average and makes Wealthfront a compelling choice for those looking to build up their cash reserves. Additionally, Wealthfront offers goals, which allows you to save money towards specific objectives.

For example, you can set a goal for a down payment on a home and track your progress towards achieving that goal. Wealthfront has no fees, and it offers early direct deposit.

Stash Banking

Stash is a banking app focused on providing financial services to investors. Stash offers a debit card that comes with its Stock-Back rewards program.

Whenever you use your debit card to make a purchase, you’ll earn a percentage of the purchase back in the form of a stock. Stash offers over 1,800 stocks and ETFs, making it an excellent choice for those looking to invest.

Stash has no monthly fees, and it offers ATM access without any fees. Overall,

Stash Banking is a great option for investors who want to earn rewards for their purchases.

Conclusion

Choosing the right bank for your financial needs is essential to managing your money effectively. Whether you’re looking for an online-only platform, prepaid debit cards, socially conscious banks, cash accounts, or investment banking, there are plenty of options available to you.

Before choosing a bank, make sure to compare fees, rates, and features to ensure that you make the right choice for your financial future. Managing finances is essential to achieving financial security and independence.

This article highlights various best banks and accounts for managing your finances. For checking accounts,

Chime is recommended for young adults,

Current Bank offers special accounts for teens,

Axos Bank Rewards Checking rewards customers for using their funds, and

Chase Total Checking offers an upfront bonus.

For savings accounts, the

LendingClub High-Yield Savings Account and its cashback checking are great options.

Wealthfront Cash Account is an excellent choice for cash accounts, while

Stash Banking offers investment-related rewards.

Choosing the right bank for your financial needs is crucial as it can make or break your financial journey. Therefore, before choosing a bank, ensure to compare fees, rates, and features to make the most informed decision for your financial future.

Popular Posts