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Best rewards checking accounts of February 2024

Explore cashback checking accounts that give you rewards on every dollar you spend.

1,151 visitors found a checking account through Finder this week.

4.8 ★★★★★
verified_user FDIC Insured
Customer rewards

Earn 1% cash back on up to $3,000 in debit card purchases each month. .

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Earn 1% cash back on up to $3,000 in debit card purchases each month. See website for details.

4.3 ★★★★★
verified_user FDIC Insured
Customer rewards

Up to 2% cash back on everyday purchases for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases

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Upgrade is a financial technology company, not a bank.  Rewards Checking services provided by Cross River Bank, Member FDIC.  Upgrade VISA ® Debit Cards issued by Cross River Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

4.5 ★★★★★
verified_user FDIC Insured
Customer rewards

Up to 15% cash back at select merchants

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4.7 ★★★★★
verified_user FDIC Insured
Customer rewards

Earn 3% cash back at Walmart, up to $50 annually, with eligible deposits

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One is a financial technology company, not a bank. Banking services provided by Coastal Community Bank, Member FDIC.
5.00% APY: 5.00% annual percentage yield (APY) applies to the primary Savings pocket and custom pockets of customers who either (i) received $500 or more of eligible direct deposits in the previous month or (ii) have a total daily account balance of $5,000 or more. Customers can also earn 5.00% APY on Pay Autosave and Even Save balances. In all instances 5.00% APY is limited to a total Savings balance of up to $250,000. All other Savings balances will earn 1.00% APY. APYs are as of 9/28/2023, but may change at any time before or after account opening. Fees may reduce earnings on this account.
1.00% APY: 1.00% annual percentage yield (APY) applies only to Save balances. APY as of 9/28/2023 but may change at any time before or after account is opened. Fees may reduce earnings on this account.
No fees: For One Retail Cards purchased at an in-store retail location, A $5 One Retail Card Fee will be applied 15 days after card purchase and then every month until you apply for a One deposit account, are approved, and make an additional deposit.
ATM: Allpoint Network ATM transactions are fee-free for accounts with eligible direct deposits totaling at least $500 in the previous month. For all other ATM transactions the One ATM Fee will apply
and third-party ATM fees may be incurred.
Overdraft protection: With eligible direct deposits totaling at least $500 in the previous month. Must be 18 or older to receive overdraft protection. Overdraft balance is due right away. Transactions eligible for overdraft protection are determined by One. See details.
3% at Walmart To receive 3% cash back, eligible customers (at the time their purchase settles) must (i) have received $500 or more of eligible direct deposits in the previous month, or (ii) have a total account balance of $5,000 or more. 3% cash back is limited to up to $50 per year and applies only to purchases made at U.S. Walmart locations and on Walmart.com. This promotion may not be combined with other One promotions that offer cash back on purchases at Walmart. Terms apply.

4.8 ★★★★★
verified_user FDIC Insured
Customer rewards

Earn up to $50 per month in cashback rewards

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6 best rewards checking accounts

The best rewards checking accounts give you fun perks like cash back or discount points when you use your debit card for everyday purchases. And unlike a cashback credit card, there’s no interest or monthly balance to pay back.

Best overall for earning cash back

Varo

4.8
★★★★★

Finder score

Existing and new customers get a $30 referral bonus when signing up for a Varo Bank account through April 11, 2024.
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Coming in hot with a high 6% cashback rate, the online bank Varo allows you to earn up to $50 per month in cashback rewards. And with the high cashback rate, you only have to spend around $830 per month to make the most of the cashback limit. The Varo checking account doesn't charge any monthly fees, requires no minimum opening deposit and offers overdraft protection. Varo also has a savings account that offers up to 5% APY on balances under $5,000 that you can apply for when you open a Varo checking account and sign up for e-statements. However, you can't do wire transfers, and there are no checking writing privileges.

Best for big spenders

Discover® Cashback Debit

4.8
★★★★★

Finder score

Go to site Read review
This Cashback Debit account gives you 1% cash back on up to $3,000 in monthly debit card purchases, translating to approximately $30 in cashback earnings a month. There are also no monthly fees, no balance requirements, no insufficient funds fees, and there's free overdraft protection. Discover also works with Zelle for easy peer-to-peer transactions. The only fee is a $30 service charge for outgoing wire transfers, and there are no ATM reimbursements for using an ATM outside of Discover's network.
Earn 1% cash back on up to $3,000 in debit card purchases each month. See website for details.

Best hybrid account

SoFi Checking and Savings

4.5
★★★★★

Finder score

Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until June 30, 2024.
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SoFi is an online, FDIC-insured bank offering a top hybrid checking and savings account. You can earn up to 4.60% APY on your savings balance, and 0.50% APY on your checking. To earn those high rates, you either need to set up direct deposits, or just deposit at least $5,000 per month. SoFi is known for its lack of fees on many of its products, and that includes its Checking and Saving account — there are no monthly fees, no overdraft or nonsufficent fees, and no opening deposit requirement. You can also enjoy up to $2 million in additional FDIC insurance coverage. However, like some online bank accounts, cash deposits come with a $4.95 fee, and there are no physical branches, so customer support is limited.

Best for ATM reimbursements

Axos Bank CashBack Checking

4.5
★★★★★

Finder score

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An online bank, Axos' CashBack Checking account comes with unlimited domestic ATM reimbursements and no monthly fees. You can also earn 1% cash back on signature-based transaction purchases, up to $2,000 earned per month. To qualify for the cash back, you must maintain a $1,500 average daily collected balance. If you fall below that threshold, you can still earn 0.50% in cash back for the month. You can also enjoy unlimited check writing and send peer-to-peer payments from your account. To get started, you'll need to make a $50 deposit. On the downside, Axos customer support information is difficult to locate — the customer support page leads to a blog, and there's no phone number or email address listed.

Best for everyday spending

Upgrade Rewards Checking Plus

4.3
★★★★★

Finder score

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If you need an everyday checking account, Upgrade's rewards checking is worth considering. You can earn 2% cash back on everyday expenses such as utilities, subscriptions, bars, restaurants, gas stations, drug stores, convenience stores, food deliveries and more — and you get up to 1% cash back on all other purchases. The 2% cashback rewards are limited to $500 annually or around $41 per month. And to qualify for the highest cash back rates, you must be an 'active' account member, which requires at least $1,000 of direct deposits per month. With an Upgrade account, you'll also enjoy no monthly fees, and you'll get ATM reimbursements if you're an active account member. You can also get one free domestic wire transfer per month, and each transfer costs $20 after that. But like most online accounts, it doesn't accept cash deposits, and there are no check writing privileges.
Upgrade is a financial technology company, not a bank.  Rewards Checking services provided by Cross River Bank, Member FDIC.  Upgrade VISA ® Debit Cards issued by Cross River Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

Best for building a savings

ONE

4.7
★★★★★

Finder score

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A spend and save account, ONE offers fair APYs, cashback rewards and saving features. One of its main perks is the savings roundups, you can opt to have your purchases rounded to the nearest dollar, and the rounded-up amount is automatically deposited into your savings account. You can also create an unlimited number of savings 'pockets', each with its own account number, and you can dedicate specific pockets for certain expenses. You can also earn up to 5.00% APY on balances up to $250,000 when you receive at least $500 in monthly direct deposits or keep a total balance of at least $5,000. Otherwise you'll earn 1.00% APY on all balances. Cashback rewards aren't the best-of-the-best, but ONE offers up to 3% cashback at Walmart with eligible deposit, up to $50 per year. However, this account is better-suited for a singleton, as it doesn't accept joint accounts, and there are no bill autopay features.
One is a financial technology company, not a bank. Banking services provided by Coastal Community Bank, Member FDIC.
5.00% APY: 5.00% annual percentage yield (APY) applies to the primary Savings pocket and custom pockets of customers who either (i) received $500 or more of eligible direct deposits in the previous month or (ii) have a total daily account balance of $5,000 or more. Customers can also earn 5.00% APY on Pay Autosave and Even Save balances. In all instances 5.00% APY is limited to a total Savings balance of up to $250,000. All other Savings balances will earn 1.00% APY. APYs are as of 9/28/2023, but may change at any time before or after account opening. Fees may reduce earnings on this account.
1.00% APY: 1.00% annual percentage yield (APY) applies only to Save balances. APY as of 9/28/2023 but may change at any time before or after account is opened. Fees may reduce earnings on this account.
No fees: For One Retail Cards purchased at an in-store retail location, A $5 One Retail Card Fee will be applied 15 days after card purchase and then every month until you apply for a One deposit account, are approved, and make an additional deposit.
ATM: Allpoint Network ATM transactions are fee-free for accounts with eligible direct deposits totaling at least $500 in the previous month. For all other ATM transactions the One ATM Fee will apply
and third-party ATM fees may be incurred.
Overdraft protection: With eligible direct deposits totaling at least $500 in the previous month. Must be 18 or older to receive overdraft protection. Overdraft balance is due right away. Transactions eligible for overdraft protection are determined by One. See details.
3% at Walmart To receive 3% cash back, eligible customers (at the time their purchase settles) must (i) have received $500 or more of eligible direct deposits in the previous month, or (ii) have a total account balance of $5,000 or more. 3% cash back is limited to up to $50 per year and applies only to purchases made at U.S. Walmart locations and on Walmart.com. This promotion may not be combined with other One promotions that offer cash back on purchases at Walmart. Terms apply.

Methodology

Finder’s banking experts research over 155 checking accounts to narrow down and find the best reward checking accounts. When choosing accounts we consider the average American’s spending — which is reported to be around $5,000 per month — to calculate the best value for cashback rewards. We also factor in these account requirements:

  • No monthly fees
  • Minimum opening deposits under $100
  • Existence of a rewards program
  • High cashback cap of at least $40 per month
  • At least 1% in cashback rewards
  • Few or simple requirements to qualify for the rewards program, such as:
    • Setting up direct deposits
    • No required number of transactions
    • Low average balance requirement under $1,500

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