Our methodology for rating checking accounts

Checking accounts may be the most popular financial product in the country. The trick is picking the best one for you.

That’s the problem we aimed to solve with our best checking account rankings. The USA TODAY Blueprint banking team, along with data analysts, researched and evaluated thousands of data points to come up with our ranking. 

All selections were made without the influence of partners or advertisers. The only way an account can make our list is by offering the type of service we deemed as worthy of your money. 

How we rate checking accounts

We looked at roughly 300 checking accounts from 147 financial institutions, and spent around 60 hours creating the best checking accounts ranking. (We spent about that many hours creating similar checking account rankings, such as best joint checking accounts.)

This breaks down to about 20 hours for data accumulation and refinement (USA TODAY Blueprint has about 10 data researchers and analysts looking up dozens of data points for hundreds of financial products) and 40 hours for picking winners, reporting and editing. This includes determining a methodology, picking the winners, highlighting each pick’s most important features, reporting out accompanying educational content, crafting tables and graphics, as well as making sure the page is factual, well written and fair.

What makes for the best checking accounts

The best checking accounts charge few fees; ideally there is no monthly maintenance or out-of-network ATM fee. (Extra points if the account offers a monthly rebate allowance for ATM fees.) 

While it’s nice if it offers interest, that’s not required since you’ll find better options from a high-yield savings account. While many of our picks are online banks, we still value institutions that offer brick and mortar locations. Lastly, we gave good marks to banks that provide great customer service.

What our star ratings mean

Our star rating is an all-in-one number that gives our readers a quick sense of how we feel about a particular checking account. 

The worst score is 1 star, while 5 stars is the best. The star ratings themselves come from the data we collect, along with the weights we give to a given category, such as fees. 

Best checking methodology

Quick tip. Here are the rates on the Best CDs based on our methodology

How we choose the products we ranked

Our goal was to identify and test checking accounts from a wide range of banks and credit unions against our methodology and category weightings. To that end, our data team assembled roughly 300 checking accounts from almost 150 financial institutions, from Alliant Credit Union to Zynlo Bank. To amass this roster of banks, we looked at federal databases of institutions by deposit size, in addition to adding new entrants on a case-by-case basis. 

In order to qualify, though, an institution must offer federal insurance and be available to Americans in any state. 

Best checking account ranking factors

We prioritized checking accounts that do the least amount of harm to your hard-earned cash. That’s why fees are the most important factor we consider. 

• Fees: 55%. 
• Access: 25%.
• Customer experience: 10%.
• Digital experience: 10%. 

Fees (55%)

You should opt for a checking account that doesn’t charge a monthly fee. With so many options available, especially from online banks, there’s no reason to pay a bank an arm-and-a-leg just to offer the most basic of personal finance services. 

We looked at the following fees:

• Monthly service fee (20%). There are simply too many checking account options these days to consider an account that makes you pay each month for the simple service of hosting a checking account.
• Ability to waive monthly fee (10%). Many banks that do charge a monthly fee offer the chance to avoid the fee by keeping a certain amount in your account, or by using direct deposit. While we’re not in love with this strategy, it is better than a simple fee.
• 3rd party ATM fee (8%). Ideally, you’d always access your cash at an in-network ATM. However, we don’t want banks charging you for using other people’s ATMs. (We do, however, appreciate banks that reimburse you for ATM fees charged by the specific ATM or bank.)
• Insufficient funds/overdraft fees (5% each). Some banks charge you a fee if you write a check for more than what’s in your account, or for covering that overdraft. In either case, we reward banks that don’t charge fees.
• All other fees (2%). While less common, fees for services like domestic wires can add up. 

Access (25%)

We like banks that make it easy to use its service.

• ATM locations (17%). Banks and credit unions that offer a wide array of ATMs earn high marks in our book. (Again, extra points for those banks that offer ATM fee reimbursements.)
• Branches (8%). Banking in person comes in handy, especially when you’re handling something a bit more complicated, such as receiving a cashier’s check for the down payment on your home. 

Customer experience (10%) 

How well a bank treats its customers is an important consideration, but less so for a basic financial institution like a checking account. Put another way, we’d opt for a bank with mediocre customer service and very low fees than vice versa.

• Better Business Bureau rating (4%) and Trustpilot rating (2%). These all-in-one sites give customers a platform to grade how well a bank not only handles their needs, but also any problems that arise.
• J.D. Power ranking (2%). Considered the gold standard, J.D. Power rates the customer experience offered by national, regional and online banks. 
• Live chat availability (2%). Banks should offer this service so that you needn’t get on the horn to solve a small issue.

Digital experience (10%)

We want banks to offer both mobile and online banking options that fit the needs of customers across the country.

• App Store and Google Play ratings (3% each). Mobile banking is becoming ever more important, and is a key feature that needs to perform well.
• Online bill pay and online banking access (2% each). Banks need to make it easy for its customers to access banking on desktops, as well.

Other best checking account rankings

In addition to our best checking account ranking, we find the best checking accounts for different types of customers. Here’s a quick rundown of each one’s methodology. 

Best free checking accounts

Read for full methodology

• Fees: 45%.
• Access: 45%.
• Customer experience: 3%.
• Digital experience: 3%
• Minimum deposit requirement: 1%.
• Minimum deposit requirement: 1%.

Best teen checking accounts

Read for full methodology

• Fees: 55%.
• Minimum deposit requirement: 15%.
• Access: 15%. 
• Customer experience: 5%.
• Digital experience: 5%. 
• Minimum balance requirement: 5%.

Best checking accounts for students

Read for full methodology

• Fees: 48%.
• Access: 20%. 
• Digital experience: 12%.
• Minimum balance requirement: 10%.
• Customer experience: 5%.
• Minimum deposit requirement: 5%.

Best high-yield checking accounts

Read for full methodology

• APY: 50%. 
• Fees: 30%.
• Access: 10%.
• Customer experience: 5%.
• Digital experience: 5%.

Best joint checking accounts

Read for full methodology

• Fees: 50%.
• Customer experience: 20%.
• Access: 20%.
• Digital experience: 10%.

How we collect data

The process starts with our banking editorial team, which consists of lead editor Taylor Tepper and deputy editor Jenn Jones.

When we decide to create a ranking, we collaborate with a team of 10 researchers to come up with a universe of accounts to research and various data points that help us determine which accounts are best. Our data team consistently updates these data sets, which include APY, straight from a financial institution’s website to ensure that they are as accurate as possible.

We then feed those data points into our methodology, which was independently decided upon by the editorial team, to determine which accounts are the best. 

USA TODAY Blueprint’s editorial standards

All decisions regarding which banks we include, which data points we consider and how much a particular data point contributes to the final ranking are all made by our editorial team. We are not influenced by our partners, advertisers or anyone else. 

We believe that this editorial independence is key. You cannot have a site worthy of reader trust that allows financial institutions to dictate what products are included and where they rank in a recommendation list. While this means we miss out on some business, we believe it is the only way to do this work with integrity.