You may not have heard of Memory Bank. Kasasa is a service provider that partners with community banks and credit unions to offer competitive accounts in multiple regions. Do they have to involve a signature? By now you understand that with a high-interest checking account, you have to actively earn your reward. You know you need a checking account—preferably one without fees—but most people think it’s not going to yield more than a token amount in interest. Out of the standard bank account types, the checking account is the most flexible in terms of spending. The best checking accounts, whether they are online, high interest, or traditional brick & mortar accounts, typically have: Most American adults have checking accounts, and there's a good reason why it's such a popular place to keep money. Why Should You Get a Business Credit Card? After joining the Louisiana Association for Personal Financial Achievement (ACHIEVE) with an initial $20 membership ($5 per year after that), you’re eligible to join La Cap. You’ll also need to keep at least $5 in a savings account. The best checking accounts should make it easy to access your money, be flexible in how you can spend your money, and be FDIC insured at minimum. In addition, purchases made using third-party payment accounts (services such as Venmo® and PayPal™, who also provide P2P payments) may not be eligible for cash back rewards. Apple, the Apple logo and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Find Your Best Match for Student Loan Refinancing. But, if you tend to have $15,000 or more on hand, you can earn 0.5%. The effort it takes to hit those marks, plus the funds they tie down, are not often worthwhile for many customers. Your APY, because it is compounded, allows you to earn on both your initial balance and on the interest you earn over time. SoFi Money takes a number of steps to make the transition to online banking easy: The NBKC Personal Checking Account offers 1.01% interest on all balances and has no minimum balance requirement. Checking accounts are intended to be spending accounts used for everyday purchases with fewer limitations on the number of payments or withdrawals you can make each month. However, some high-interest checking accounts require you to maintain a certain minimum balance to earn the stated APY, and may only offer that rate on deposits up to a certain amount. For example, many of our best high interest checking account picks don't have any monthly maintenance fees or overdraft fees, and some even go so far as to reimburse customers for ATM fees charged by other banks. Compare that to high-yield savings accounts, even the best of which are paying only a bit above 1% right now.