Aspiration Spend & Save Account
Up to 1%
- Unlimited cash back rewards
- Fee-free ATM withdrawals at Allpoint ATMs
- 10% of the company's earnings committed to support charities
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Rewards checking accounts go beyond just giving you easy access to your money. They give you fun perks when you use your debit card for everyday purchases. To find the best rewards checking accounts, we collected a list of nationally-available accounts, then picked our top five based on factors like no monthly fees, additional account features and minimum opening deposit requirements.
For 2020, we added a list of the best rewards checking accounts — along with their fees, minimum deposit requirements, pros and cons — so you can quickly compare your options.
Earn unlimited cash back and do good at the same time.
Aspiration donates 10% of its profit to charity every year. If you want to earn cash back and support socially conscious businesses, then this Spend & Save account is for you. You’ll earn rewards on debit card purchases, up to 1% APY on your account balance and play a large role in charity donations.
Earn 1% cash back and up to 0.15% APY on your account balance.
The Radius Bank Rewards Checking account earns double the rewards with 1% cash back on debit card purchases and up to 0.15% APY on your account balance. But you’ll only get these benefits if you keep a $2,500 minimum daily balance or make at least $2,500 in monthly direct deposits.
Get rewarded with up to 4.09% APY.
The Consumers Credit Union Rewards Checking account doesn’t come with a cashback debit card, but it rewards you with one of the highest APYs we’ve seen advertised at any bank. But you’ll only earn the highest tier if you meet certain requirements.
Earn up to $30 a month in cash back.
This cashback checking account has no minimum fees and free access to over 60,000 ATMs. Plus, you can earn up to 1% cash back on everyday purchases.
Earn 0.5% to 1% cash back when you use your debit card.
This cash back checking account rewards you for everyday purchases. The higher your account balance, the higher your cashback reward. But you’ll only earn cash back on signature-based purchases, which usually don’t require a PIN.
Rewards checking accounts offer:
Negative aspects of rewards checking accounts can include:
If you’re considering opening a rewards checking account, factor in:
Depending on which one you choose, there are a number of ways to earn rewards with your checking account. For example, you can be rewarded for maintaining your daily balance, for the purchases you make using the issued debit card, or both.
Depending on your banking habits, you could end up with a substantial number of points. These points can then be used toward airfare or selected purchases and vouchers. Some allow you to redeem your points in the form of cash that gets put back into your account. Think about how you use your checking account and the types of rewards you’d use to compare accounts.
A cashback offer is a type of rewards program where you earn a percentage of your total purchases back. This can be paid toward the balance on your card or as a discount at checkout with certain partners or on a store-sponsored card.Back to top
Rewards checking accounts can help you save money and earn rewards with your everyday purchases. But don’t let the promise of extra miles or cash back convince you to sign up for an account that isn’t the right fit. Compare other checking accounts to make sure you’re getting the one that’s right for you.
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