Best Checking Account

Want to hear what's out there and what fellow bankers are using. Used chase in the past but the interest on it was non existent. Switched to SoFi that gives 2% interest on checking currently but want to know what else is out there

 

Capital one checking/savings comes as a package. They have brick & mortar locations for your convenience and their yield is the same/very close to marcus. I used marcus for a bit but the interface looked a bit lackluster. I also have Schwab for out of network ATMs. Why did you specifically use BofA

 
Most Helpful

Because it's easy and convenient, and I barely touch my HY savings account (I have ~6 months of emergency money and I do not interact with it) so it's not worth it to have them together when you'd have to hunt down an in-network ATM or brick and mortar locations. When you have random things like needing an immediate $25k+ bank check to lock down an apartment rental, send wire transfers, grab cash at an ATM and not walk 10 blocks... etc I just prefer to have the convenience.

I have less than $10k in my checking account unless I'm doing some transaction, don't really care about the interest on that nominal amount - the excess in my account goes to my trading account or emergency fund in a HY savings account

You really won't be dealing with your savings account on a daily basis, just taking 30 seconds to transfer, so I would split them. I would max out checking convenience with something like Chase/BofA, forget about the interest on that small amount in there, and then put emergency savings in your preferred HY account (Marcus, Capital One, whatever)

 

Depends what you're looking for. I mentioned this on a thread a couple of days ago, but I'm currently using Enzo Wealth, which pays out 2.87% interest. It has some mildly useful cashback stuff, but the real draw is the interest. I'd still plan to have an account with a larger bank for the access and integration they have (+ ability to wire). It really depends what you're looking for. If the goal is overall convenience then I've heard good things about Chase. If the goal is earning on your cash then I'm happy with Enzo checking.

You can also browse through opening account bonuses at different banks (I think Citi has one of the better ones atm), but given the hassle that opening and closing bank accounts can be, I personally prioritize the benefits that I'll get YoY

 

Assumenda et consequatur voluptatum eaque nostrum in repudiandae enim. Vel eius rem consequatur possimus exercitationem aut sint. Aut quia facere ut nobis totam.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
CompBanker's picture
CompBanker
98.9
6
GameTheory's picture
GameTheory
98.9
7
kanon's picture
kanon
98.9
8
dosk17's picture
dosk17
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
DrApeman's picture
DrApeman
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”