How to Find the Best Checking Account In 2020

If you’re considering getting a bank account, it’s probable that you’re opening it in order to use a checking account. Having a bank account is more than necessary in today’s modern world. There are so many different types of bank accounts that you can open, but most are for the everyday person who needs to use it for day-to-day expenses and bill payments.

With a checking account you can order checks, receive and use credit and debit cards, and use it for online transactions. Many banking institutions offer customers a variety of different checking accounts, and there are positives and negatives for each option. Below are some of the best options for checking accounts that you can apply for in 2020.

1. Wells Fargo

Wells Fargo goes all the way back in history over 160 years ago. They have over 13,000 ATMs spread across 6,000 different branches in 40 states. Wells Fargo offers their customers a selection between five personal checking account options.

Their Everyday Checking account and Preferred Checking accounts are the most used across their customer base. They even offer a teenager account, which is for teens aged 13-17 who need a checking account but need an adult to co-own the account with them. All monthly fees are waived by meeting certain criteria.

2. Bank of America

Another company that goes back in history is Bank of America. It goes back an impressive 200 years and offers services in all 50 states, as well as in 35 countries worldwide. They have 4,500 branches and a total of 16,000 ATMs across America.

They offer customers a choice between two different personal checking accounts: the Core Checking and Interest Checking accounts.

The two different accounts can be opened with a different deposit amounts that can be waived for students under 24 years old. Monthly fees can also be waived by maintaining the minimum balance outlined by Bank of America.

3. Capital One

This financial institution is a Fortune 500 company and one of the nation’s largest banks and has branches across six states and the District of Columbia. They offer customers two different types of checking accounts for online banking.

Their 360 Checking account gives users an online and mobile checking account for free. Another attractive feature is that there is no minimum balance needed in order to open an account, and interest can be earned at the rate of 1.20-1.00% APY.

Similar to Wells Fargo, Capital One offers an option for anyone under the age of 18 that is looking to open an account. It is called the Money account, and it’s a card set up specifically for those within this age range, and earns an interest of 0.25% APY. Both of these options can be covered by up to four different overdraft options.

4. Discover Bank

Discover has always been well-known for banking since 1986, back when they offered the very first cash rewards credit card to consumers. Collectively, they have over 60,000 ATMs located across the U.S. with no ATM fee. Their online checking account is offered to customers for no monthly fee, which is a definite draw for users.

Discover Bank also provides an online bill pay, you can order checks, and replace your card with no additional charges. Their Cashback Checking account will give its customers 1% cash back on up to $3,000 worth of purchases from their debit card.


If you are interested in finding out about interest checking accounts we have some listed if you just click here. With technology come a long so much in the last 20 years, banking has been completley revolutionized. The need to go into a branch has been significantly lower, you can send and deposit money directly from your mobile device.