10 Best Rewards Checking Accounts for November 2023

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All information about American Express® Rewards Checking has been collected independently by GOBankingRates and has not been reviewed or approved by American Express. American Express® Rewards Checking is not available through GOBankingRates.

Checking accounts are an essential part of your day-to-day spending, consuming and participating in capitalism. Cash has gone the way of the dinosaur, so if everyone has to use a checking account, why not find one with some perks?

The good news is that many banks and financial institutions are now offering a high-yield or rewards checking option, which means a checking account with high interest rates or cash back. Great rates and rewards are not just for credit cards anymore.

10 Best Rewards Checking Accounts

1. American Express Rewards Checking
2. Axos Bank Rewards Checking
3. Connexus Credit Union Xtraordinary Checking
4. Consumers Credit Union Free Rewards Checking
5. Discover Cashback Debit Account
6. Lake Michigan Credit Union Max Checking
7. LendingClub Rewards Checking
8. Quontic Bitcoin Rewards Checking
9. SoFi Checking and Savings
10. Upgrade Rewards Checking Plus

1. American Express® Rewards Checking

American Express, Member FDIC, is known for rewards when it comes to credit cards. However, members can now apply for a checking account that has no monthly fees, a solid annual percentage yield and rewards on some purchases. Earned rewards can be redeemed as a deposit into your checking account, or you can redeem them in the same way you redeem points for any Membership Rewards cards you currently have.

2. Axos Bank Rewards Checking

To open an Axos Bank Rewards Checking account you just need $50. There is no requirement to keep a minimum balance, and there are no overdraft fees.

3. Connexus Credit Union Xtraordinary Checking

The Connexus Credit Union Xtraordinary Checking account comes with a free Visa debit card and free digital banking. To earn the yield, you must spend $400 on the debit card or have at least 15 debit card purchases per cycle.

4. Consumers Credit Union Free Rewards Checking

Consumers Credit Union Free Rewards Checking offers conveniences such as mobile banking and a large network of ATMs. There is also never a minimum balance requirement. Tiered rates increase with larger balances when you meet minimum account activity requirements.

5. Discover Cashback Debit Account

Discover, Member FDIC’s Cashback Debit Account provides a free checking account with no-fee overdraft-protection transfers. In fact, it has no fees whatsoever. It is FDIC-insured and offers such security measures as fraud protection and online privacy protection.

6. Lake Michigan Credit Union Max Checking

There are no monthly fees or minimum balance requirements for the Lake Michigan Credit Union Max Checking Account. It comes with a $10-per-month reimbursement for any non-Lake Credit Union or non-Allpoint ATM transactions.

7. LendingClub Rewards Checking

LendingClub Rewards Checking has no overdraft fees and no minimum balance or transaction requirements. The account provides unlimited ATM fee rebates and early access to direct deposited paychecks.

8. Quontic Cash Rewards Checking

With Quontic Bank’s Cash Rewards Checking, you can get 1% cash back each month on eligible purchases. Rewards will be posted to your account at the start of every statement cycle. The minimum to open an account is $100, but there are no monthly or overdraft fees.

Quontic Bank once offered a bitcoin rewards account, called the Quontic Bitcoin Rewards Checking. It featured no overdraft or insufficient funds fees, and the exclusive Quontic Pay Ring also eliminated the need to carry a debit card. The account was not available Hawaii or North Carolina.

9. SoFi Checking and Savings Account

The SoFi Checking and Savings account has overdraft protection and automatic saving features.

10. Upgrade Rewards Checking Plus

Upgrade Rewards Checking Plus accounts get up to 20% lower rates on loans and cards. It also has no overdraft fees, transfer fees or ATM fees.

Final Take

You use your checking account every day, so it may be time to switch to a high-yield or rewards checking account to make sure you are getting the most for your money. There are several banks and financial institutions that now offer a bit more incentive to bank with them, so be sure to take advantage of one of them.

Best of Checking Accounts

• Best Checking Accounts
• Free Checking Accounts With No Minimum Deposit
• Best Free Checking Accounts With No Minimum Balance
• Best Online Checking Accounts
• Best Student Checking Accounts
• Best Checking Accounts for Seniors

Daria Uhlig and Cynthia Measom contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Nov. 6, 2023.

¹SoFi members with direct deposit can earn up to 3.75% annual percentage yield (APY) on savings balances (including Vaults) and 2.50% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 3.75% APY for savings and 2.50% APY for checking balances. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of March 7, 2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

GOBankingRates is a personal finance and consumer interest rate website and an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of GOBankingRates, which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account.

GOBankingRates bases its assessment of “best” and “top” products on the above-stated parameters to create a baseline for comparison. This assessment is an approximation of “best” and “top” designed to help consumers find products that might be appropriate for them. There could be other options available as well. Consumers should consider various options appropriate for their circumstances.

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