So you want a premier, top-of-the-line banking experience, eh? Premium checking accounts might just be your thing.
What is a premium checking account?
A premium checking account can offer more perks and benefits compared to a standard checking account.
Think of premium accounts as an upgraded version of a regular account. Premium checking may include features like waived fees on other accounts, exclusive rewards programs, loan discounts, higher savings APYs and priority customer service.
But as the name suggests, premium accounts can also have premium requirements.
They’re typically designed for those who can maintain high balances to avoid costly monthly fees or even qualify for the account. While they’re not for everyone, premium checking accounts can offer great value to those who qualify.
Premium checking features and benefits
Premium checking accounts often come with useful perks for frequent travelers or high-balance customers.
- Waived fees. By maintaining a high enough balance or meeting activity requirements, many premium accounts waive your monthly fee or fees on other accounts you have with the institution.
- Earn APY. While most checking accounts don’t earn interest, many premium checking accounts do.
- Travel benefits. International premium accounts frequently include perks like free currency exchanges, airport lounge access or travel insurance.
- Enhanced customer service. A lot of the time, having a premium account gets you priority support or even a dedicated relationship manager.
- ATM rebates. Many premium accounts offer out-of-network ATM reimbursements.
7 popular premium checking accounts
Most banks have regular checking accounts but may not offer premium options. Among the thousands of institutions, here are seven premium accounts to help you begin your search.
Bank of America Advantage Relationship Banking®
The Bank of America (BofA) Advantage Relationship Banking account is interest-bearing and designed for high-balance account holders. There’s a $25 monthly fee and a $100 opening deposit requirement. You’ll get a spending and budgeting tool, custom alerts, bill pay and other typical modern perks.
But the main perks come from joining BofA’s Preferred Rewards Program. The rewards program has three tiers: Gold, Platinum and Platinum Honors. Your account balance determines your tier.
The highest tier requires a $100,000 balance and offers great perks, such as a 20% boost on savings interest, a 75% credit card reward bonus, discounts with Merrill Guided Investing, $600 off a mortgage origination fee, a 0.50% auto loan rate discount and unlimited ATM reimbursements at out-of-network ATMs.
| APY | Up to 0.02% |
|---|---|
| Fee | $25 per month |
| Minimum deposit to open | $100 |
| APY | Up to 0.02% |
|---|---|
| Fee | $25 per month |
| Minimum deposit to open | $100 |
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HSBC Premier Checking
Earn up to $3,000 when you open a Premier checking and Premier Relationship Savings account by February 28, 2025 and complete qualifying activities
Want global banking perks and exclusive benefits? Enter HSBC Premier Checking.
You’ll get access to HSBC relationship rates, a relationship manager, global customer service, the ability to share Premier benefits with up to four family members and no foreign transaction fees, and your balance earns 0.01% APY. However, the monthly fee is $50 per month, so it’s best for those who can meet the fee waiver requirements.
It offers no monthly fees if you maintain a $75,000 balance across all HSBC accounts, receive at least $5,000 in qualifying monthly direct deposits, or have an HSBC US residential mortgage loan with an original loan amount of at least $500,000.
| APY | 0.01% |
|---|---|
| Fee | $50 per month |
| Minimum deposit to open | $0 |
| APY | 0.01% |
|---|---|
| Fee | $50 per month |
| Minimum deposit to open | $0 |
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Chase Premier Plus Checking
Chase Premier Plus Checking offers everyday banking with premium perks.
Benefits include free money orders and cashier’s checks, fee waivers on other Chase accounts, no Chase fees on your first four non-Chase ATM transactions per statement period and Chase Overdraft Assist. Your balance also earns interest, but rates are often around 0.01% APY and vary by zip code.
You can waive the $25 monthly fee by maintaining an average beginning-day balance of at least $15,000 in this account or other linked deposit or investment accounts. You can also waive the fee if you’re a current service member or veteran of the US Armed Forces or by linking the account to a Chase mortgage with automatic payments.
| APY | 0.01% |
|---|---|
| Fee | $25 per month |
| Minimum deposit to open | $0 |
The information about Chase Premier Plus Checking has been collected independently by Finder and has not been reviewed or provided by the issuer.
| APY | 0.01% |
|---|---|
| Fee | $25 per month |
| Minimum deposit to open | $0 |
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Chase Sapphire Checking
Get a $1,000 welcome bonus when you join Sapphire Banking. Within 45 days of joining, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts (excludes any J.P. Morgan retirement accounts and CDs), and maintain the balance for at least 90 days.
Another Chase account, the Chase Sapphire Banking checking account has no fees on ATM transactions worldwide, no wire transfer fees, four free overdrafts per year, dedicated customer service and special access to events and experiences. You’ll also unlock Chase’s relationship rates by linking a Chase Premier Savings account.
To avoid the $25 monthly service fee, you must maintain an average beginning day balance of $75,000 or more in qualifying linked deposits and investments. If you have a JP Morgan Wealth Management account, your investment account balance counts toward the balance requirements.
| APY | 0.01% |
|---|---|
| Fee | $25 per month |
| Minimum deposit to open | $0 |
The information about Chase Sapphire Checking has been collected independently by Finder and has not been reviewed or provided by the issuer.
| APY | 0.01% |
|---|---|
| Fee | $25 per month |
| Minimum deposit to open | $0 |
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Wells Fargo Premier Checking
Wells Fargo’s Premier Checking account has a $35 monthly fee and a $25 opening deposit. It provides access to Premier Client Service and 24/7 customer support.
This account unlocks relationship rates on savings products and interest rate discounts on select new loan products, which is a plus considering Wells Fargo also offers CDs, savings accounts and loans. Additionally, you’ll have no wire transfer fees, free cashier’s checks, no ATM fees worldwide and unlimited ATM rebates and free checks.
But it’s not easy to waive the account’s $35 monthly fee. To do so, you must maintain a balance of at least $250,000 across your Wells Fargo deposit, IRAs or investment accounts.
| APY | 0.01% |
|---|---|
| Fee | $35 per month |
| Minimum deposit to open | $25 |
| APY | 0.01% |
|---|---|
| Fee | $35 per month |
| Minimum deposit to open | $25 |
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Charles Schwab High Yield Investor Checking
As the name suggests, the Charles Schwab Investor Checking is checking designed for investors, but it’s also a great premium account well-suited for travelers. There are no foreign transaction fees, and you’ll get unlimited ATM fee rebates worldwide. The cherry on top is this account has no monthly service fees or overdraft fees.
It also links to the Schwab One brokerage account to support investing, and you can easily transfer funds between the accounts, as there’s only one login.
| APY | 0.45% |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0.01 |
| APY | 0.45% |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0.01 |
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PNC Virtual Wallet with Performance Select
Earn $400 when you open a new PNC Virtual Wallet with Performance Select and establish a direct deposit of at least $5,000+ to your Spend account in the first 60 days.
If the other premium accounts on this list have balance requirements you can’t quite meet, this might be the one to check out. The PNC Performance Select Checking is one of the many variations of the PNC Virtual Wallet accounts.
The PNC Performance Select Checking has a $25 monthly fee, which you can waive with at least $5,000 in direct deposit to your Spend account or by maintaining a combined average monthly balance of $5,000 in your Spend and/or Reserve accounts. There’s also no minimum deposit requirement to open the account.
Premium perks include: No PNC out-of-network ATM fees, ATM reimbursements, free domestic wires and higher APYs on lower balances compared to the other Virtual Wallets. You can earn between 0.04% to 0.05% APY on your Growth account, depending on your balance.
However, some PNC Virtual Wallet accounts are unavailable in certain states.
| APY | 0.01% |
|---|---|
| Fee | $25 per month |
| Minimum deposit to open | $0 |
| APY | 0.01% |
|---|---|
| Fee | $25 per month |
| Minimum deposit to open | $0 |
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Is a premium checking account worth it?
A premium checking account can be worthwhile if you meet the balance requirements and can take advantage of the perks. These accounts are great for frequent travelers, high-balance customers or anyone who values additional rewards and benefits.
However, if you can’t meet the minimum balance or don’t need the extra features, a standard checking account might be a better fit.
Alternatives to premium checking accounts
Premium accounts can have high monthly fees and high balance requirements to waive fees. In some cases, you might not need the perks they offer. If premium accounts don’t feel right, consider these other top checking accounts:
- SoFi Checking & Savings. A hybrid checking and savings account, SoFi’s all-in-one account offers high APYs on both account balances, early direct deposit, high FDIC insurance, savings tools and more. There are also no monthly fees or opening deposit requirements, but you must meet the deposit requirements to get the best APYs.
- Upgrade Rewards Checking Plus. A fintech with banking services, Upgrade’s reward checking account offers cashback rewards with no monthly fees or opening deposit requirements.
- Capital One 360 Checking. A top pick for frequent travelers, the 360 Checking account has no monthly fees, foreign transactions or currency transaction fees.
Compare standard checking accounts
Not sure a premium checking account is right for you? Compare your options with these top standard checking accounts. Narrow down your options by monthly fees, APYs and features. For a better way to compare, tick the Compare box on multiple accounts to see features side by side.
What is the Finder Score?
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product’s monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
Read the full Finder Score breakdown
Bottom line
Take the time to weigh the costs and benefits based on your financial habits and goals. If none of those premium accounts are your cup of tea, compare the best checking accounts.
