Best Bank Accounts 2022 | UNBIASED Best Checking Accounts of 2022

The BEST bank accounts of 2022… 4.25% interest rates, $325 sign up bonuses, free perks… what isn’t to love about the best checking accounts of 2022?

I’ve done the hard work for you guys to find the three best checking accounts out there all three of these accounts are free to use they’re fdic insured and they will save you a lot of money make you a lot of money and give you a lot of great perks in this video i’m going to cover an account that has a 4.25 interest rate another account that gives you a 325 dollar

Sign up bonus and a million perks you’re going to want to use and an online checking account that can make it cash deposits this is somewhat of a nerdy hobby of mine so please if you like this video give it a like and share this video and comment below with your favorite of these three checking accounts or any checking account out there that you think would be

Better than this one of course everyone needs a checking account because that’s where you do primarily all of your bill pays and transactions every month so it’s good to not waste money on those like bank of america chase wells fargo and citigroup those accounts can charge you a lot of money just for having the account this could amount to literally hundreds of

Dollars a year for something that you can get for free which simply makes no sense at all and those accounts with bank of america and chase and wells fargo they don’t have nearly the same perks and of course not anywhere close to the same interest rate with all those accounts yielding basically zero percent as of today so ditch those accounts and get ready to get a

Much better checking account my name is kevin conway i make personal finance videos all the time please like this video and subscribe to the channel if you’re not already now let’s get into the very best checking accounts as of today number one and no surprise if you’re not new here to the channel is sofi money i’ve been high on sofi money for several years now way

Before they had a referral program and now they do and link in the description below if you want to know more about that the reason i like sofi money is because it’s clean it’s cutting edge and it has all the things that you’re going to want to need in a checking account on top of that they give you a huge bonus as of today up to 325 if you sign up using a referral

Link i have one in the description below you don’t need to use that you could use someone else’s if you’d like and then you set up direct deposit with sofi money and speaking of direct deposit you can get paid up to two days early if you have a sofi money so find money also has a great interest rate today of 1.5 which is crazy when you look at other banks like bank

Of america which yield basically zero today and again that 1.5 percent is fdic insured which is incredibly important you want your bank to be fdic insured because your money is safe if you’re depositing in an fdic-insured bank if you’re not with an fdic-insured bank or bank-like system then you can lose all of your money just take a look what happened with the latest

Cryptocurrency failure if you want an example what happens when your bank is not fdic insured rule number one of money is don’t lose it and that’s one way to make sure that you don’t with sofi money there’s no account minimums there’s no minimum balance you need to have in the account and there are no fees at all there are no overdraft fees there are no fees if you

Want to order checks and you could simply order checks if you still use that sort of thing there are also no fees if you want to withdraw money from an atm now you can use any of the all point atms there’s over 55 000 of them nationwide and they’re scattered everywhere they’re found at your local rite aid cbs’s walmart’s whatever you’d be really surprised how close

You are to an all point atm today now the one downside with sofi money is that you cannot deposit cash into sofi money directly if you want to deposit cash you have to use green dot which is found at cvs or whatever they charge you a small fee for doing so which is kind of annoying and you can also deposit cash at another lender and then transfer it to sofi money but

Most of the time you’re not going to be using this as a cash deposit sort of thing so it’s probably not that big of a deal i personally never use cash at all so i don’t find this to be a hindrance whatsoever sofi money is also part of sofi more broadly which has a lot of different membership perks that i’ve talked about on my channel previously some of my favorites

Include a free financial planner that you can meet with through sofi that can give you advice on all of your finances from getting a mortgage to making a budget sofi also has tools to help you make a will and estate plan and as an attorney i could tell you those are really expensive and going through sofi that makes it a whole lot cheaper but getting back to the

Basics this simple checking account is very clean and very easy the user interface is very simple to use and i really enjoy using sofi money i’ve used it for many years and i’ve had nothing but great experiences one other thing is sofi money has a debit card that allows you to get discounts at certain retailers 15 or more and these are discounts that you’re going

To want to use places like chipotle or apple these sort of things have been on there before and it just depends they rotate these categories so to summarize sofi money is an account that gives you a 325 dollar signup bonus has a 1.5 fdic insured interest rate great perks and is totally free to have i highly recommend it link in the description below now let’s talk

About the second checking account on this list and it is capital one this may surprise you because likely you’ve heard of capital one before but you may not know all the benefits of capital one so i specifically recommend capital one for those people who still need to make cash deposits into their bank account often because capital one clearly is the best bank

Account for that i have a very detailed video that i’ll link here detailing capital one in my review of it but here’s basically all you need to know capital one is likewise free there are no count minimums and there are no account charges to have a capital one checking account capital one also does have physical branches but these are largely located only in major

Metropolitan areas like new york city or los angeles however capital one has over 70 000 atms you could withdraw money from and here’s a really interesting part if you need to make cash deposits you can go to any cvs and do it for free this i found particularly interesting and useful because likely you live next to a cvs i mean they’re everywhere everywhere has

A cvs so if you need to make cash deposits all you need to do is walk into cvs open your capital one app it gives you a bar code you scan it with the cash register and they say oh you want to deposit however much you put on your app sixty dollars for example and then they scan it and you give them the sixty dollars and it instantly appears in your account all for

Free there’s no intermediary there’s no nothing like green dot that charges you four or five dollars to do so you can make these cash deposits now there are limits you only could do it around a thousand dollars a day around forty five hundred dollars in total for the month but most of the time it’s probably going to be okay you’re going to get away with depositing

Money for free in your capital one account by going to a cvs how great is that you can also lock and unlock your debit card if you lose your debit card for example and there’s a few other features but those are kind of the main ones to talk about now the downsides is the interest rate on this account is only 0.1 percent which is still about 10 times better than

Bank of america or chase but if you want to get the full benefits of capital one you’ll need to open a savings account with capital one which currently yields one point two percent not quite as good as sofi money at one and a half percent but if you’re looking to make cash deposits in your capital one account and you need that capital one checking account opening

A savings account is a smart thing to do because you can make instant transfers between the two to make sure that your money is always yielding the very most that it possibly can what do you guys think of these checking accounts comment below with any of your thoughts so far okay last account the third account on this list is a la capitol checking account now you

Likely you probably haven’t heard of this unless you live in louisiana and even then i’m not exactly sure if you’ve heard of this account either but it has an eye-popping 4.25 interest rate and yes this is insured by the federal government now while it’s not fdic insured it’s not fdic insured because it’s not a bank it’s actually a credit union so it’s insured by

The national credit union administration this is virtually the exact same thing with the exact same limits backed also by the federal government the reason it’s not fdic insured is only because it is a credit union it basically has the exact same protection that you would get if it were a bank but it’s not it’s a credit union now back to the lock capital choice

Checking account this really is pretty amazing at 4.25 interest rate but the caveat is it only is four point two five percent up to the first three thousand dollars you have in your account and you must be a member of this credit union in order to even sign up for this account so how can you become a member of this credit union well if you live in louisiana or you

Go to a louisiana school you can automatically become part of this credit union if you’re not part of louisiana in any sort of direct way then you must sign up for this credit union by paying a small 20 fee to join and then you’re in the credit union this account also gives you 25 rebates on atm withdrawals so that can be kind of helpful but their website interface

Is completely crazy it’s like out of the 1990s if you want to take a look it’s just i couldn’t even believe it couldn’t even navigate this thing so there are significant downsides to this account but if you’re just looking to have a couple thousand dollars and earn the very highest interest rate you can use this like capitol checking account now as a side note a bonus

Account that i’m going to talk about briefly is t-mobile money yes t-mobile the cell phone carrier has an account that’s very similar to this but the user interface is significantly better and it also has a four percent interest rate which is phenomenal but only up to the first couple thousand dollars in the account the t-mobile money account is completely free

To have there are no account minimums there’s nothing at all all you need to do is be a t-mobile customer so if you’re a t-mobile customer you want almost the same interest rate as a log capital choice checking account go with t-mobile money and just know that it has similar restrictions and the user interface is going to be way better than law capital so overall

Those are my favorite checking accounts of 2022 so far i will make an update if anything changes and likely it will with the fed raising interest rates all sorts of things are changing right now interest rates are going up in your account so if your accounts are not earning as much as they can right now please make the switch make the switch to a free account that

Gives you a bonus again my favorite is sofi money capital one is also great there’s several other great accounts out there let me know your thoughts in the comments below and please like this video it really helps the channel out a ton and please comment below with any video ideas you want to see me cover with that being said my name is kevin conway thanks so much

For joining and i’ll see you next time

Transcribed from video
Best Bank Accounts 2022 | UNBIASED Best Checking Accounts of 2022 By Kevin Conway