Joy Wallet is advertiser-supported: we may earn compensation from the products and offers mentioned in this article. However, any expressed opinions are our own and aren't influenced by compensation. To read our full disclosure, click here.
A joint checking account is a convenient way of sharing your finances with someone else. And while we may most often associate these accounts as only for married couples, you can share them with a friend, parent, child, business partner, or significant other. No matter who you’re sharing an account with and your ultimate financial goals, there are plenty of fantastic options for joint checking accounts worth exploring.
So, which financial institutions offer the best joint checking account experience? Here’s a list of our top picks and why we think you might love them, too.
Capital One
Capital One offers a 360 checking account, ideal for those who like to do their banking on the go since it includes complete online access and 24/7 customer service. Checking account holders can also direct deposit up to two days in advance and have no monthly maintenance fees or overdraft charges. But if you’re unsure you’re ready for a 100% online bank, Capital One does have several physical branches and cafes for the in-person service you’re looking for.
If you’re open to an online-only checking experience, then Ally Financial is worth serious consideration. Ally Financial offers a checking account option—or spending account as it’s called with Ally – with no money fees, no account minimums, and plenty of overdraft protection. What sets this online option apart is your ability to divide your cash into “buckets,” so you can easily track toward a specific financial goal or simply set aside money for your budget categories. For accounts with balances over $15,000, you can earn 0.25% annual percentage yield (APY), while accounts with balances below $15,000 still earn 0.10% APY.
Discover Bank offers another online-only banking option, but if you’re interested in earning cash back with your joint checking account, you may like what it offers. With Discover Banking, you can earn up to 1% cash back for up to $3,000 in monthly debit card purchases. And like others on this list, you enjoy no monthly fees, have access to your direct deposit up to two days early, and have a full breadth of digital tools at your fingertips.
Alliant Credit Union combines the convenience of checking with the interest-bearing potential of a savings account with its High-Rate Checking. You can earn 0.25% APY, which pays a monthly dividend. The best part is that there’s no minimum account balance for qualification – simply enroll in e-statements and conduct at least one monthly electronic deposit (which includes direct deposit, mobile deposit, payroll, and external transfers). Alliant shines for its lack of fees, too, including no monthly maintenance fees, no overdraft fees, and you receive up to $20 per month in ATM-fee reimbursement if you have to use out-of-network ATMs.
Axos Bank
Why only choose from one joint checking account when Axos Bank offers you three? Choose from Essential Checking, Rewards Checking, or Cashback Checking. The Essential and Rewards Checking accounts offer $0 monthly maintenance fees and $0 overdraft fees, but the Rewards Checking offers up to 3.30% APY. The Cashback checking also offers no monthly maintenance fees but up to 1.00% cash back when you use a debit card — ideal for frequent purchases.
Chase offers three checking account options and may be a great choice for those who prefer both mobile banking and in-person since Chase has over 4,700 branches nationwide. Chase’s three checking options include:
Chase Total Checking: Basic checking with no minimum deposit required, $0 to $12 in monthly fees, but you can avoid the fees if you have a $500 electronic deposit, a $1,500 average daily balance, or a $5,000 balance between checking and savings.
Chase Secure Banking: With a $4.95 fixed monthly fee, you can access early direct deposit and other benefits.
Chase Premier Plus Checking: With access to early payday and interest-bearing savings, includes a $0 to $25 monthly fee, with fees waived if you maintain a $25,000 average daily balance.
LendingClub combines several features into its Rewards Checking account, including 1% cash back on qualifying purchases with a debit card, no monthly or overdraft fees, and you can earn 0.15% APY if you maintain an average daily balance of $100,000. It operates 100% online, but you’ll have digital products like mobile deposits. Plus, you receive unlimited ATM reimbursements (or you can use one of the 37,000 fee-free ATMs if you prefer).
SoFi Checking
SoFi Checking offers a complete digital experience, and if you’re already a SoFi financial product holder, then you can view all your accounts at once with ease (but you can still open a checking account even if you don’t have another SoFi account). When you open a SoFi Checking account, you automatically qualify for zero monthly fees and access to direct deposit up to two days early. However, you also receive a 0.50% APY on checking account balances—one of the higher APYs available.
Quontic is another all-digital banking option and offers two checking account choices. The high-interest checking offers up to 1.10% APY on all balance tiers if you meet the deposit and debit card criteria. Or, you may prefer the Cash Rewards Checking account, which offers 1% back on all debit card purchases.
Both accounts feature all your desired digital tools, including mobile deposit, digital wallet, and bill pay. But checking account customers also have access to the Quontic Pay Ring, which lets you wear a ring with your account information embedded in it, and you can pay by simply tapping your hand. While opening an account requires a minimum of $100, you can do so in as little as three minutes.
Wells Fargo has a long history of banking within the U.S. and has evolved into one of the best joint checking account options available for the digital and in-person experience. It currently offers six different checking account options, so you can find the one that best fits your financial goals. Monthly fees range from $5 to $20, but each account offers multiple avenues for avoiding fees. Each account can access the full digital offerings, including mobile deposit, Zelle, and a digital wallet.
How do I choose a bank for a joint checking account?
To choose the best joint checking account, look for how much the financial institution charges monthly, the monthly minimums required, customer service options, digital tools (such as mobile deposit), access to fee-free ATMs, and if you’re comfortable with the number of physical branches–or lack thereof such as with an online-only option.
Is a joint checking account a good idea for a couple?
Whether or not a joint checking account is good for a couple largely boils down to the individuals and their preferences. However, some supporting evidence suggests it can be better for a couple’s relationship in the long run.
Can you open a joint checking account online?
Yes, opening a joint checking account online is almost exactly the same as opening an individual one online. The biggest requirement is having the correct documentation available for each account holder, including a government-issued ID and personal information (including your social security numbers).
The bottom line
When you need the best joint checking account, consider what aspects matter most to you, such as online versus in-person service, monthly maintenance fees, overdraft charges, and digital tools, or any other critical components. Many stellar options are available, so you and your partner can be sure to find the best fit for your finances.
Joy Wallet is an independent publisher and comparison service, not an investment advisor, financial advisor, loan broker, insurance producer, or insurance broker. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. They are not intended to provide investment advice. Joy Wallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. We encourage you to seek personalized advice from qualified professionals regarding specific investment issues. Featured estimates are based on past market performance, and past performance is not a guarantee of future performance.
Our site doesn’t feature every company or financial product available on the market. We are compensated by our partners, which may influence which products we review and write about (and where those products appear on our site), but it in no way affects our recommendations or advice. Our editorials are grounded on independent research. Our partners cannot pay us to guarantee favorable reviews of their products or services.
We value your privacy. We work with trusted partners to provide relevant advertising based on information about your use of Joy Wallet’s and third-party websites and applications. This includes, but is not limited to, sharing information about your web browsing activities with Meta (Facebook) and Google. All of the web browsing information that is shared is anonymized. To learn more, click on our Privacy Policy link.
Images appearing across JoyWallet are courtesy of shutterstock.com.
Sara Coleman is a former corporate gal turned creative entrepreneur. She began writing professionally several years ago and now contributes to multiple websites, blogs, and magazines. She’s also an avid reader and can’t resist a great historical fiction novel. Sara holds a BA in journalism from the University of Georgia and can be found supporting her Bulldogs every chance she has. She resides in Charlotte, North Carolina, with her wonderfully supportive husband and three children. When she’s not ushering her kids to sports and dance lessons, she can be found creating content for her own website, TheProperPen.com.
Share this article
Find joy in your inbox.
Exclusive promotions, rewards and insights on the journey to financial freedom. Earn & save more today.
