Best high-yield checking accounts of July 2026: Earn up to 5.00% APY

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC Select will update as changes are made public.

Checking accounts are designed to be easily accessible, but unlike savings accounts, most don't accrue interest.

CNBC Select found the best interest-bearing checking accounts, with an eye toward yields, minimum deposits and balance requirements, monthly fees, sign-up bonuses and more. To see how we made our choices, check out our methodology.

Who's this for? The All America Bank Ultimate Rewards Checking is for you if you want to maximize the return you earn on the cash sitting in your checking account.

Standout benefits: This account offers one of the highest checking returns we found. Account holders can earn up to 3.95% APY on up to $15,000 (after, 0.50% APY) by making at least 10 debit card purchases monthly and receiving bank statements electronically. Those who don't earn 0.25% APY.

Up to 3.95% APY on up to $15,000 (0.50% APY thereafter); 0.25% APY if don't meet requirements

None (unless you receive paper statements, then $3 per month)

Up to $25 of foreign ATM fees each monthly statement cycle in one lump sum

Fees may apply; Overdraft Privilege is available

Who's this for? The Presidential Bank Advantage Checking is ideal if you have a large checking account balance, since its high APY is capped.

Standout benefits: You can earn 3.75% APY on up to a $25,000 balance (after, 2.75% APY) by having a direct deposit of $500 or more each month (from payroll, pension, Social Security or annuities) and make at least seven electronic withdrawals each month (including ATM, POS, ACH and bill payments). Those who don't meet the above requirements will earn 0.10% APY.

3.75% APY on up to $25,000 (2.75% APY thereafter); 0.10% APY if don't meet requirements

None if you maintain a $500 minimum balance

Domestic ATM surcharge rebates up to $8 per month

Fees may apply; overdraft protection is available

Who's this for? With SoFi Checking and Savings, you can do all your banking in one place and get rewarded.

Standout benefits: SoFi members who set up direct deposit can earn up to 3.80% APY on SoFi Savings with a 0.70% APY Boost (added to the 3.10% APY as of 5/28/26) for up to six months and 0.50% APY on their checking balances. Those without direct deposit will earn 0.50% APY on savings and Vault balances and 0.50% APY on checking balances.

Though the 0.50% APY is lower than what other high-yield checking accounts on this list offer, the requirement to earn interest is easier to achieve. Plus, SoFi has more perks than others that make it worth it if you're not solely focused on earning the highest return possible.

No account, service or maintenance fees for SoFi Checking and Savings.

Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis.

*Click here for important disclaimers and disclosures.

Who's this for? The Axos ONE® bundle combines checking and savings in one account, which makes it a strong pick if you want to earn competitive rates across both without juggling multiple banks.

Standout benefits: Axos ONE members who meet direct deposit requirements can earn up to 4.21% APY on savings and 0.51% APY on checking balances. To unlock promotional rates, you'll need either monthly direct deposits totaling at least $1,500 with an average daily balance above $1,500 or monthly deposits of at least $5,000 with an average daily balance above $5,000. Those who don't meet these requirements will earn the base rates of 1.00% APY on savings and 0.00% APY on checking.

Though the 0.51% checking APY is on the modest side, the savings rate is among the more competitive on this list — and the two work together seamlessly. Plus, Axos ONE comes with perks beyond the rate:

Axos ONE Checking: 0.00% APY base rate and 0.51% APY promotional rate; Axos ONE Savings: 1.00% APY base rate and 4.21% APY promotional rate

None. To earn promotional rates, monthly direct deposits of at least $1,500 and daily balance greater than $1,500

Who's this for? CCU Rewards Checking offers a high APY and anyone can join the credit union by enrolling in the Consumers Cooperative Association for a one-time $5 membership fee, which CCU reimburses.

Standout benefits: You can earn 5.00% APY on balances up to $10,000 if you meet these requirements:

Those who don't meet the above requirements will earn 0.01% APY.

Up to 5.00% APY on balances up to $10,000 (0.20% APY on up to $25,000 and 0.10% APY thereafter); 0.01% APY if don't meet requirements

Unlimited reimbursement for any and all ATM fees

Fees may apply; overdraft protection is available

To choose a high-interest checking account, consider the APY and the requirements to earn that rate — the minimum deposit and balance, direct deposit amounts, debit card transactions, etc. You'll also want to see if the bank or credit union offers a fee-free ATM network and/or ATM reimbursements.

To open a high-interest checking account, visit a bank (or credit union) online or in person. Most banks and institutions require a deposit of new money, meaning you can't transfer the money you already had in an account at that bank. Just like normal checking accounts, most high-interest checking accounts require a minimum deposit to open an account.

A high-interest checking account is one that offers an APY well above the national average, which is just 0.07%. 

Savings accounts generally offer higher interest rates than checking accounts. Rarely do checking accounts offer much interest at all. However, some of the checking accounts on this list have APYs comparable to what the best high-yield savings are currently offering.

Interest-bearing checking accounts usually have more requirements, such as setting up a direct deposit and making a certain number of monthly debit card transactions, to earn the high APY.

High-yield checking accounts can be worth it if you're not going out of your way to earn the APY offered. Given you most likely will have to meet certain requirements to earn a better return, first make sure it's something you're financially comfortable doing.

Just about anyone can apply for a high-yield checking account. Start by considering those who made this list, as they offer the highest returns and have manageable requirements to earn the high APY.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every checking account list is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of banking products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best high-yield checking accounts.

To determine which checking accounts offer the best return on your money, CNBC Select analyzed dozens of U.S. checking accounts offered by online and brick-and-mortar banks, including large credit unions. We narrowed our ranking to checking accounts that offer an above-average APY and manageable ways to earn it.

We also favored accounts with zero monthly maintenance fees (or a simple way to waive them) and low minimum balance and minimum deposit requirements.

All of the accounts included on this list are FDIC- or NCUA-insured up to $250,000. Note that the rates and fee structures for checking accounts are not guaranteed forever; they are subject to change without notice and they often fluctuate in accordance with the Fed rate. Your earnings depend on any associated fees and the balance you have in your checking account. To open an account, most banks and institutions require a deposit of new money, meaning you can't transfer the money you already had in an account at that bank.

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* New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/ *SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn up to 3.10% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.10% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. *SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC's regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks. *Earn up to 3.80% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.10% APY) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 12/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC *Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

* We've partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within our network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi's ATM policies are subject to change at our discretion at any time.