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The best rewards checking accounts of August 2020
|Bank||Standout feature||Opening deposit||APY|
|Best for cash back rewards||$100||0.10% – 0.15% APY|
|Best interest rate for banks||$50||Up to 1.25% APY|
|Best interest rate for credit unions||$5||Up to 4.09% APY|
|Best for a sign-up bonus||$100||None|
When you think of bank accounts that offer the best bang for your buck, your mind might jump to a high-yield savings account, money market account, or CD.
In many cases, checking accounts are just places to hold your cash until you spend it. But a rewards checking account can work just as hard for you as a savings account can.
A good rewards checking account should offer a promotion that's enticing enough to make you choose that account over any other. The reward should also be relatively easy to obtain, whether it's cash back, interest, or a sign-up bonus.
You also don't want to sign up for a checking account that offers a great reward, only to be bogged down by high fees or poor customer support once you've opened the account. It's important that a rewards checking account be a good fit overall.
Below we've listed our picks for the best rewards checking account right now. We know "best" means something different for everyone, so we've listed each bank account's strengths, as well as its limitations.
How our list compares to other publications
Research is an important part of choosing a rewards checking account, and Business Insider isn't the only website looking for the best rewards. To help you make a decision, we've compared our top picks with lists from other publications.
Keep in mind that each publication has different methodologies for identifying the "best" rewards checking accounts. We included a checkmark under each publication name if it also recommended an account we chose in its roundup.
|Personal Finance Insider||NerdWallet||SmartAsset||ValuePenguin|
|Radius Bank Rewards Checking||✓||✓||✓|
|Axos Bank Rewards Checking||✓||✓||✓|
|Consumers Credit Union Free Rewards Checking||✓||✓|
|Chase Total Checking® (Member FDIC)||✓||✓||✓|
We looked at the rewards when choosing our top picks — but we also looked at factors like how easy it is to get the reward, fees associated with accounts, and other perks or limitations.
Best for cash back rewards
Radius Bank Rewards Checking Account
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