Years ago, checking accounts didn’t pay interest. We didn’t expect them to. That’s changed. Many online banks now pay interest on checking, pay even more on savings, charge no monthly fee, and give you free overdraft protection. The interest on checking isn’t going to make you rich. That’s not the point. 💡 If a bank is willing to pay you interest on your checking account, it’s usually a sign that they’re going to treat you better everywhere else too. Compare that with the checking accounts at the four largest U.S. banks: BankInterest rateMinimum balance to avoid monthly fee*Monthly feeBank of AmericaAdvantage Plus Banking0%$1,500 minimum daily balance$12Chase Total Checking0%$1,500 balance at beginning of each day$15Citi Regular Checking0%$30,000 combined average monthly balance to qualify for Citi Priority and have the fee waived$15Wells Fargo Everyday Checking0%$1,500 minimum daily balance$15 * These aren’t the only ways to avoid the monthly fee. Most of these banks also waive the fee if you meet certain direct-deposit or other requirements. They don’t pay you any interest and require you to keep a minimum balance to avoid a monthly fee. If prevailing interest rates were 4%, they’re essentially charging you $60 a year for a checking account by requiring a $1,500 minimum balance. The point is this – if your checking account isn’t earning interest, it’s time to switch: Table of ContentsSoFi Checking AccountAlly Bank Spending AccountCapital One 360 CheckingQuontic High Interest Checking SoFi Checking Account Checking Account Interest Rate – 0.50% APY Savings Account Interest Rate – up to 4.00% APY* Overdraft Protection – Yes New Account Bonus – Yes, $50 or $400, details here SoFi’s Checking account pays out 0.50% APY, which is one of the highest rates you’ll see on a checking account. Their savings account also yields up to 4.00% APY*. SoFi offers free Overdraft Protection which automatically transfers money from your savings account to your checking account to cover an expense that would draw your balance below zero. It pulls from your general savings and won’t pull it from your Vaults. 👉 Learn more about SoFi Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.90% APY Boost (added to the 3.10% APY as of 5/28/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#4. SoFi Bank, N.A. Member FDIC. Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet Ally Bank Spending Account Checking Account Interest Rate – 0.25% APY Savings Account Interest Rate – Overdraft Protection – Yes New Account Bonus – Yes, $300, details here Ally Bank has a checking account that pays 0.25% APY while the savings account pays . They