Starting around 2020, many banks have overhauled their fee schedules to help customers better manage their finances. Banks Will Continue To Eliminate or Reduce Overdraft Fees Your checking account can not only serve as a tool for daily transactions but also offer a modest return on your cash. Interest, one of the main benefits traditionally associated with savings accounts, will be earned in multiple places. But with consumer interest rates high from Fed rate hikes throughout 2023, banks will likely continue offering attractive interest rates on checking accounts to stay competitive in the new year.Īs the banking sector evolves, the distinction between interest-bearing checking and savings accounts may become less pronounced.

There are already plenty of high-yield checking accounts to choose from. The Best Checking Accounts Will Earn Interest Here are some of the trends you might see as the new year approaches.

Stay informed about changes in banking to choose the best accounts. These institutions stand out for user-friendly apps, strong customer service and competitive rewards-including both cash back and interest-along with low fees. With low overhead and sleek digital platforms, these offer an attractive combination of low fees and helpful features many traditional brick-and-mortar banks can’t.Ĭurrently, some of the best banks and credit unions to open a checking account with are Axos Bank, PenFed Credit Union, Discover, EverBank and nbkc bank. This year has been marked by rising interest rates and technological advances, with online and hybrid banks leading the pack for everyday bank accounts.

Huntington bank cd rates for 2020