Best High Interest and Reward Checking Accounts for August 2019

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If you keep a lot of money in your checking account, moving your money to a high-interest checking account may be a good move. Below is a list of highest yields checking accounts. Your principal is protected, and you’re guaranteed a positive return on investment.

Before you sign up, review the requirements carefully because many of these high yield accounts have specific requirements like using their debit card 10 times a month, or setting up direct deposit, etc.

As of right now, these are some of the best offers online with no monthly fee (updated 8/1/2019).

Bank Rate (APY) Notes
Consumers Credit Union up to 5.09%
  • Earn up to 5.09% APY on balances up to $10,000.
  • No monthly maintenance fees, for anything.
  • Write unlimited checks

To Qualify

  • Spend $1000 or more in CCU Visa Credit Card purchase transactions
  • Direct deposits or ACH credits totaling $500 or more must post to your account monthly.
TAB Kasasa Cash® Checking up to 4.00%
  • Earn up to 4.00% APY on balances up to $50,000.
  • 4.00% to 1.50% APY on balances over $50,000
  • Free checking

To Qualify

  • At least 1 direct deposit, ACH payment, or bill pay transaction(s)
  • At least 15 debit card purchases
Bank 34 Kasasa Cash® up to 2.50%
  • Earn up to 2.50% APY on balances up to $15,000.
  • 2.50% to 0.50% APY on balances between $15,000 to $25,000.

To Qualify

  • 12 debt card uses
  • eStatement
  • 1 direct deposit or ACH
Simple up to 2.02%
  • An online checking account with built-in budgeting and saving tools.
AXOS Checking up to 1.25%
  • Unlimited out-of-network ATM fees in the U.S. and requires no minimum balance.

To Qualify

  • Set up a direct deposit totaling $1,000 or more.
  • Use the Rewards Checking Visa Debit 15 times or more.
Discover Cashback Debit 1% cashback
  • $0 minimum and fee. No fee checking. No fee online bill pay.
  • 1% cashback on up to $3,000 in debit card purchases each month

Please review the information associated with each offer before you sign up. Rates and conditions change constantly, and I have reported what I believe to be the most accurate information at the time the article was updated.

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DavidSaraleeJoeWayneSkipper Recent comment authors
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United FCU, they have branches in most of the states offers 6.01% on their high yield checking account.


Bank 1440 in Arizona offers 5.01% APY up to $25,000. Anything over that earns 2.01% when qualifications are met.

Their website explains everything…

Mike B.
Mike B.

First Internet Bank (of Indiana) has a 1% rate with NO minimum deposit.


Reward checking definitely has some advantages if you don’t mind the debit card usage requirements. As Frank mentioned CheckingFinder.com is a good resource, but it excludes many local banks and credit unions. Search for “reward checking” in Google for sites to help you find a local reward checking account.


North Carolina individuals can yield 4.01% on thier checking by opening a Reward Checking account with ECB. ECB is offering 4.01% on its Reward checking account on balances up to $25,000. Over $25,000, it yields 1.01%.


There is a bank in IL called the consumer credit union that has 4% APY. No residency requirements to sign up. Credit Unions are really starting to give the national banks a run for their money


When I look at all of the FREE chequing options that are available to Americans, it makes me a little bit sad. Partly because I’m Canadian, so to get truly free chequing takes a bit of work (now there are a few options like ING THRiVE and PC Financial). But partly because, despite how easy it is to get free chequing, so many Americans still pay ridiculous amounts for access to their own money. I talk to people here in Canada and they say it’s too much effort to switch; I fear they’d be just as lazy even if it… Read more »


This is a great list. Another possibility is to look at ethnic banks. For example, a lot of Korean banks offer special savings accounts that will reward regular depositors with higher interest. Right now, the interest level is about 2%+, which is really good in current times.


Great list. Most people don’t take the time to maximize their savings and plan correctly for the future. Even though today’s rates are as low as they have ever been, cash is still an asset class the safest place to keep your hard earned money. Everyone should have enough cash or equivalent type of asset to save for a rainy day. Rates will go higher at some point and the returns will get better.

Best High Interest and Reward Checking Accounts for August 2019

by Pinyo Bhulipongsanon time to read: 1 min