Best Checking Account to Open?

I currently bank with Navy Federal but have been seeing offers from other banks. Chase offers a $200 bonus if I open a checking account and set up direct deposit over $500. SoFi’s bonus is lower at $50. Wells Fargo is offering $300, but I’ve heard a lot of bad things about them. Discover is another option I’m considering. I’m leaning towards Chase, but I’m not sure if they’re worth it. What do you all recommend?

Discover and Capital One are both solid options. Capital One also has a bonus offer if you deposit $250+ twice.

Merritt said:
Discover and Capital One are both solid options. Capital One also has a bonus offer if you deposit $250+ twice.

Thanks! I was already looking at their Venture X card, so I might open a checking account with them too.

Merritt said:
Discover and Capital One are both solid options. Capital One also has a bonus offer if you deposit $250+ twice.

I second this! I use Capital One for checking, savings, and even my car loan.

Honestly, I’d just stay with Navy Federal. They’re fantastic, and credit unions generally offer better customer service and fewer fees than big banks like Chase. They also have a massive ATM network through Co-op.

Avoid SoFi and Wells Fargo.

I also recommend sticking with Navy Federal. SoFi and Chase often get negative reviews. I’ve worked for Capital One and Bank of America, and I wouldn’t recommend them either. Navy Federal is the best bank I’ve used.

SoFi is terrible—no one should do business with them. I’ve been in banking for 20 years and have seen plenty of complaints about them. Wells Fargo at least has a better ATM and branch network.

Brynlee said:
SoFi is terrible—no one should do business with them. I’ve been in banking for 20 years and have seen plenty of complaints about them. Wells Fargo at least has a better ATM and branch network.

They rank highly on many lists. Thanks for the insight!

Brynlee said:
SoFi is terrible—no one should do business with them. I’ve been in banking for 20 years and have seen plenty of complaints about them. Wells Fargo at least has a better ATM and branch network.

Why do you say that? I use SoFi for their high-yield savings and haven’t had any issues.

The best checking account depends on what’s important to you. Avoid banks with maintenance fees and minimum balances. If convenience matters, choose one with a strong ATM network.

Capital One, Discover, and Ally are great if you don’t need to visit a physical branch often. No fees and solid customer service.

Look at the fee structure before opening an account. Many banks require a minimum balance or charge monthly maintenance fees. Stick with accounts that have $0 fees and competitive interest rates. Capital One, Discover, and Ally are good choices.

You can have multiple checking accounts. I keep one with a traditional bank and another with a credit union. That way, I can take advantage of better loan rates while having access to a broad ATM network.

There’s a reason Chase is paying people to open an account—don’t take the bait.

DO NOT go to Chase! They are one of the worst banks. I keep all my accounts with Capital One—checking, savings, credit cards, and car loans—and I’ve had a great experience.