FAQs
What Is Rewards Checking?
“Rewards checking” describes any checking account offering a direct return on investment (your account balance), spending, or both. That means, the accounts offer cash or points bonuses for new account holders, earn interest on held balances, and earn rewards on eligible debit card transactions. The best rewards checking accounts offer all three.
How Much Does Rewards Checking Cost?
In a perfect world, rewards checking accounts cost nothing. Many rewards checking accounts have no monthly maintenance fees and make it easy to avoid other types of account fees, such as overdraft fees and ATM withdrawal fees. Be sure to read the fee disclosure and any associated fine print before signing up for any bank or investment account.
How Do You Get Checking Account Rewards?
To earn new account bonuses, you generally have to receive direct deposits or spend a certain amount during the qualification period for rewards checking accounts. Check the specific requirements for each account to ensure you qualify for the rewards.
What Are the Best Banks for Rewards Checking Accounts?
The best banks for rewards checking accounts are the ones listed in this article. These accounts offer a combination of high yield, spending rewards, account opening bonuses, and other perks. The accounts featured here are from U.S.-based financial institutions, including banks, credit unions, and online brokerages.
Conclusion
When it comes to choosing a rewards checking account, it’s important to consider your financial goals and spending habits. The top rewards checking accounts mentioned in this article offer a variety of benefits such as high yields, cashback rewards, and account opening bonuses. By selecting an account that aligns with your preferences, you can maximize the rewards and benefits while avoiding unnecessary fees.
Remember to review the account details, fees, and requirements before opening a rewards checking account to ensure it meets your needs. Stay informed about any changes or updates to the account terms and conditions, and always reach out to the specific financial institution for more information.