10 Best Checking Accounts Of 2025 – Forbes Advisor – Go Health Pro

The SoFi Checking and Savings Account is a package deal: Sign up for a rewards checking account with low fees and receive an accompanying savings account. The account offers a competitive 0.50% APY on checking and up to 3.80%¹ APY on savings if you set up direct deposit or by depositing $5,000 or more every 30 days. Customers who don’t meet this criteria earn 1.00% APY on savings balances as long as you meet its requirements. You’ll have access to 55,000 fee-free ATMs and the ability to earn up to $300 in bonuses through SoFi’s direct deposit promotion. To qualify, you must receive a qualifying direct deposit through the promotional period (which begins when you receive at least $1 and ends 25 days later). You’ll earn $300 if you receive more than $5,000 and $50 if you receive between $1,000 and $4,999.99.

Why We Like It

Not only are there no monthly maintenance fees or account minimums, but you won’t face fees for replacing your debit card or stopping a payment. SoFi® charges no overdraft fees, and should you overdraw your checking account, it will pull money from your savings account to cover the amount due. You’ll earn a solid 1.00% on your checking account balance and have access to 55,000 ATMs (through the Allpoint Network).

What We Don’t Like

This isn’t a good fit for someone looking just for a checking account since you’ll receive a savings account, too. Moreover, you need to jump through hoops to earn the highest yield on the savings account, as well as the bonus. You don’t receive reimbursements for using out-of-network ATMs.

Who It’s Best For

Consider the SoFi Checking and Savings Account if you want your checking and savings in one place, you don’t mind banking entirely online and if you can meet the requirements to earn the highest savings yield and a bonus.

• No monthly maintenance fee³, minimum balance requirements or overdraft fees⁵
• If you opt in, Overdraft Protection will move money from your savings account to cover debit charges if your checking account doesn’t have enough money in it
• Overdraft Coverage will cover up to $50 in charges and recover those funds from your next deposit for no charge, but you need to receive at least $1,000 in direct deposits each month and opt into the program⁵
• No fees for inactivity, stopping payments or returned items³
• Can only send wire transfers for home purchases but can receive wires with no fees³
• More than 55,000 ATMs through the Allpoint network²
• Earn up to $300 in bonuses through SoFi’s direct deposit promotion. To qualify, you must receive a qualifying direct deposit through the promotional period (which begins when you receive at least $1 and ends 25 days later). You’ll earn $300 if you receive more than $5,000 and $50 if you receive between $1,000 and $4,999.99 on all balances
• You’ll receive a 0.50%¹ APY savings account when you open the checking account, but you can earn up to 3.80%¹ if you receive direct deposits or take in at least $5,000 in qualifying deposits (such as wire transfers or peer-to-peer payments) in a month
• Live chat support is available

Consumer Sentiment Index

• Overall rating: 6.8/10 — Satisfied

Based on 52,464 customer insights and reviews for the entire category.

Customers are split on SoFi Checking and Savings. They appreciate its interest rates and lack of fees, as well as its bonuses and overdraft protection. However, the online account scored poorly on customer service, with users complaining about account freezes and difficulty receiving support. Overall, though, users are mostly satisfied with SoFi’s account. 

Disclaimer: The Consumer Sentiment Index from Forbes Advisor uses a proprietary weighting system designed by our subject matter experts. It evaluates thousands of consumer insights and reviews from leading online forums to determine customer satisfaction at scale.

¹SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.  

²We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

³SoFi does not charge any account, service or maintenance fees for SoFi Checking and Savings. SoFi does charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. SoFi’s fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

⁴Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

⁵Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking> Savings> Current APY or (ii) Banking> Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

⁶New 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 Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking.
SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.