Let’s talk about the Best checking accounts for January 2021. As the primary institutional tool for collecting deposits, funding payments, and initiating transactions, a bank account is a gateway to your personal finances.
It’s probably the foremost fundamental financial tool in your mind. And, if you have got over one checking account, it’s likely to be the one used most frequently.
Just like any financial account, some of the key features rise above the rest: ATM and branch availability, fees and reimbursements, overdraft protection. And just how easy it’s to maneuver money in and out of an account. Whether by direct deposit, mobile deposit, or old-school cash deposit.
Best Checking Accounts for January 2021
Paying attention to the Best checking accounts for January 2021. Even though a bank touts a “free bank account,” that may not be a complete truth.
If you’re considering getting another bank account, scrutinize the fee schedule. Which can reveal what proportion the bank charges for a “monthly maintenance fee”. Using an out-of-network ATM, falling below a minimum balance requirement, or spending quite you’ve got and can end in an overdraft fee.
You don’t want to operate on a bank with a $4 fee only for making an ATM withdrawal at the other banking machine. It may be helpful to consider a bank account together a part of a multifaceted personal economic system.
Some of the Best Checking Accounts for January 2021
Here are my five selected Best checking accounts for January 2021:
Radius Bank Rewards Checking Account
- Monthly fee: None.
- Minimum opening deposit: $100.
- Out-of-network ATM fees: None.
- Out-of-network ATM reimbursements: Unlimited.
- In-network ATMs: 35,000+ (MoneyPass and SUM).
- Direct deposit funds available early: Yes.
- Mobile check deposit: Yes.
- Cash deposits: MoneyPass ATMs.
- APY: 0.10% on balances of a minimum of $2,500.
Radius checks all of the boxes, earning it our choice for the best bank account overall. Unlimited ATM reimbursement, support for mobile check deposits and transfers, and no monthly or out-of-network ATM transaction fees.
It’s a superb bank account and with its modest APY and decent cash-back reward structure for a checking account. It could suitably function as a one-size-fits-all checking account to hide all of your savings, spending, and checking needs.
It’s worth noting that Radius will never charge you for using an ATM outside of its partner networks (MoneyPass and SUM). Which provides unlimited reimbursements if another financial organization charges you for using its ATM.
That’s an unparalleled level of protection from ATM fees. Another nice feature: If you’ve got direct deposit found out, Radius will make your funds available a couple of days early.
NBKC Bank Everything Account
- Monthly fee: None.
- Minimum opening deposit: None.
- Out-of-network ATM fees: None.
- Out-of-network ATM reimbursements: $12 per month.
- In-network ATMs: 34,000 (MoneyPass).
- Direct deposit funds available early: No.
- Mobile check deposit: Yes.
- Cash Deposits: MoneyPass ATMs.
- APY: 0.4% on all balances.
This bank shares our distaste for fees. As such, there are not any minimum balance fees, overdraft fee penalties, maintenance fees, foreign transaction fees, and no out-of-network ATM fee.
Apart from a couple of esoteric international wire fees, when NBKC says it doesn’t charge fees, it means it. The NBKC Everything account offers an 0.4% APY on all balances. For a bank account, that’s a high-interest rate.
NKBC will provide early access to your paycheck if you check-in for an immediate deposit. You get $12 in monthly ATM reimbursements which is sweet, though not as great as Radius’s unlimited offer.
Chase Total Checking
- Monthly fee: $12.
- Requirements to avoid monthly fee: Monthly direct deposit of a minimum of $500+; or $1,500 daily balance; OR $5,000 combined average balance.
- Minimum opening deposit: None.
- Out-of-network ATM fees: $2.50.
- Out-of-network ATM reimbursements: None.
- In-network ATMs: 16,000 ATMs, 4,900 branches.
- Direct deposit funds available early: No.
- Mobile check deposit: Yes.
- Cash deposits: Branches and ATMs.
- APY: None.
Large traditional banks like Chase (and Bank of America and Wells Fargo) are more likely to charge fees. For nebulous purposes like “monthly maintenance” or an out-of-network ATM fee than newer players.
Consumer Credit Union Rewards Checking
- Monthly fee: None.
- Minimum opening deposit: $5.
- Out-of-network ATM fees: None.
- Out-of-network ATM reimbursements: Unlimited.
- In-network ATMs: 30,000 (CO-OP).
- Direct deposit funds available early: Yes.
- Mobile check deposit: Yes.
- Cash deposits: No.
- APY: 2.09% – 4.09%-tiered system, on balances up to $10,000.
If earning interest is your top priority, Consumers Credit Union’s Rewards checking account offers the very best APY. Though it comes with some hefty bank account requirements. To qualify for the category-high 2.09% APY, you will need to check-in for electronic monthly statements.
Make a minimum of 12 open-end credit purchases per month, and receive a minimum of $500 in direct deposits or mobile check deposits monthly. To qualify for a 3.09% APY, you would like to satisfy all those requirements and spend a minimum of $500 with a Consumers’ depository financial institution credit card monthly.
And to qualify for 4.09%, you would like to spend a minimum of $1,000 with a Consumers’ depository financial institution credit card monthly.
Alliant Credit Union High-Rate Checking
- Monthly fee: None.
- Minimum opening deposit: None.
- Out-of-network ATM fees: None.
- Out-of-network ATM reimbursements: $20 per month.
- In-network ATMs: 80,000 (AllPoint).
- Direct deposit funds available early: No.
- Mobile check deposit: Yes.
- Cash deposits: Select AllPoint ATMs.
- APY: 0.25%, as long as you opt-in to eStatements and receive 1 DD per month.
This free bank account is exclusive to members of the Alliant depository financial institution. Most of which are based within the Chicago area. That noted you’ll become a member of the organization’s “partner charity” with a $5 donation.
