Best Joint Checking Account (Updated 2017)

Here are some of the best joint bank accounts you can enjoy if you are a US citizen. Banks do not tend to promote their joint accounts very much because there is more money to be made from people having single accounts. However, these banks, companies and financial institutions offer joint checking accounts, but you may have to do a little digging around on their websites to find their offers. Our review features the best joint checking account for couples in different circumstances.

The Best Joint Checking Account If Your Regular Balance Exceeds $5000

 Bank Of Internet USA – Platinum Checking Account

The bank of Internet USA serves all of its customers online. You will not find a local branch with this company. You can administer your account online, on the phone, even via the Internet.

Last year, you needed to maintain a minimum balance of $500 to open the joint account, and you need to maintain at least a $5000 balance if you want to avoid their $7.50 monthly fee. However, this year, they are giving the account away for free without any monthly/maintenance fees. You will have to open their platinum checking account if you want a joint account.

There Are Various Rewards To Play With

You get up to 0.71 APY on your balance, but only if you maintain a balance of $5000 or more every day for a full year. They refund domestic ATM use up to $8 per statement cycle, and they have a Cash-back rewards system. You have to log into your account and activate whichever offers are running this month. If you make purchases with your card that are part of the offer, then you earn cash back on those purchases.

You get overdraft protection for your account, but it is best to opt out of overdraft protection if you think you are going to overdraw. If you are able to opt out of overdraft protection, then the bank will be unable to overdraw your account. However, keep in mind that this bank doesn’t charge overdraft on non-sufficient fees, so the only downside of overdrawing in this case is the hit your credit rating takes.

You can link your account to another source of funds to ensure you do not overdraw on your account. There is a reasonable $1.00 fee for every time you use their overdraft protection with another linked account, i.e. they charge you $1.00 every time they have to pull money from another account to fund your checking account. You get a free order of checks, and you get ATM fee refunds for the use of any ATM up to $8.00 each month.

Features & Benefits

[+] Joint Accounts Available – Share this account with another person.
[+] Regular Checks – You may write regular checks on paper.
[+] Online Banking – Manage your account via the internet.
[+] Mobile Banking – Use their mobile app
[+] Mobile Deposit Features – Photograph checks as a method of deposit.
[+] Online Statements – Go paperless and save on fees.
[+] Send Deposits By Mail – Mail your checks if you wish.
[+] No Hard Inquiry – Applying will not hurt your credit rating.
[+] Debit/ATM Card – Get a debit/ATM card with your account.
[+] Online Bill Pay – Pay your bills over the internet with this account.
[+] ACH deposits and withdrawals may be initiated by another bank.
[+] Overdraft And Credit – Pass a credit check and get an overdraft or credit.

The Best Joint Checking Account If Your Regular Balance Exceeds $7500

Century Bank Direct – Platinum Joint Accounts

Both parties must be over the age of 18, both must have a US social security no or personal tax identification number, and both must have a US address. Their joint accounts are only for personal use, which is true of all the accounts on this list, but Century Bank are more on the ball and will freeze your account if they suspect you are using it for business purposes.

You need to enter a refundable deposit of $100 to open your account, after which there are no monthly fees if you maintain an average daily balance of $7500. If you do not maintain the balance, you are charged a $20 monthly fee. They insure your money up to a quarter of a million per depositor, so you get a little more protection as a couple than you do as individuals.

You have to pay a $3.95 fee each time you use overdraft protection. Overdrafts and credit are possible after your account is opened. Last year, you got a free order of 50 checks when you open your account, and you got ATM refunds of up to five transactions per month. This year, you get unlimited free checks and unlimited ATM fee refunds.

There Are Various Perks To Enjoy

As with all of the banks on this list, you get unlimited debit card use without having to pay extra fees, and they have their own network of ATMs you may use. However, even if you use another ATM, Century Bank will refund your fees. You get free and unlimited checks on selected checks only, and they have free online banking, eStatements, and you may gain access to the bank’s preferred rates if you ever wish to borrow from the bank.

You may use their text-banking feature, their mobile banking service, and they also allow you to deposit checks via your mobile device. For the first year, you are given access to a free personal safe deposit box. In addition, you may sign up to start earning interest on your balance too.

Features & Benefits

[+] Online Banking – Administer and manage your accounts online.
[+] Overdraft Protection For Your Account – Link to another for extra protection.
[+] Joint Accounts Available – Share this account with another person.
[+] No Hard Inquiry – Applying will not hurt your credit rating.
[+] Online Statements – Opt out of paper statements to save on fees.
[+] Regular Checks – You may write regular checks on paper.
[+] Debit/ATM Card – Get a debit/ATM card with your account.
[+] Online Bill Pay – Pay your bills over the internet with this account.
[+] Send Deposits By Mail – Mail your checks if you wish.
[+] ACH deposits and withdrawals may be initiated by another bank.

The Best Joint Checking Account For Easy Opening And Low Fees

Ally Bank Checking

They allow you to open a joint account with them, or if you and your partner already have accounts with them, then they allow you to merge your accounts. There is no minimum amount to open your account, and there are no maintenance fees. You can make deposits and withdrawals that are initiated by other banks. They also pay interest on your balances with their better rates occurring if you maintain a balance of over $15,000.

Ally makes it very easy to open a joint account or to merge your accounts. They have a slew of different tutorials and articles on opening a joint account with Ally Bank, and you may earn interest on your checking account balance.

Earn Interest On Your Balance

You get a robust 0.10% APY on your daily balance if it is less than $15,000 per day over the year. If your daily balance is above $15,000 over the year, then you get 0.60% APY on your balance. There are no maintenance fees, no minimum balance requirements, and almost all of their everyday transactions have no fees attached. Ally is part of the AllPoint ATM network, which means there are more than 43,000 ATMs you may use for free in the USA.

Features & Benefits

[+] No Monthly Fees – There are no monthly maintenance fees
[+] Live Customer Support – Their customer service department runs 24/7
[+] Free ATM Use – Use their AllPoint ATMs for free
[+] Send money to other people for free with PopMoney.
[+] Regular Checks – This checking account comes with standard checks.
[+] Online Statements – Go paperless to avoid fees.
[+] Debit/ATM Card – Get a debit/ATM card with your account.
[+] Send Deposits By Mail – Mail your checks if you wish.
[+] Joint Accounts – You can apply with another adult or a younger person.
[+] Online Banking – Manage your account via the internet.
[+] Online ACHs – You may transfer money online.
[+] Online Bill Pay – Pay your bills over the internet with this account.
[+] Mobile Check Deposit – Deposit checks with your mobile device using Ally eCheck Deposit.
[+] ATM Fee Refunds – Use ATMs and have your fees reimbursed each month up to $10.

The Best Joint Checking Account For Investors

Charles Schwab Bank – High Yield Checking

There is no minimum balance if you sign up for a brokerage account too. To get a joint or single High Yield Checking account, you need to link it with your Charles Schwab brokerage account.

With a Charles Schwab joint account, you may enjoy an APY rate of 0.13% no matter what you bank account balance is, so long as you actually have money in your account. The APY rate has gone down a little since last year when it was 0.15%.

You do not have to pay a starting fee, nor is there a starting deposit. There are no maintenance fees, and it is very easy to set up an account. Their website is one of the few that actually references joint accounts on the homepage of the website. Click the small “Joint Account” button and then click “Get Started” on their website homepage to sign up for a joint account.

Enjoy unlimited ATM fee reimbursements for cash withdrawals. Your fees are reimbursed at the very end of the month. They have ACH deposit limits of $100,000/trans. Your free checks are sent with postage-paid return envelopes so you can deposit checks too. You will have to open a Schwab brokerage account if you want a joint account. You are limited with regards to ACH withdrawals at $100,000 per transaction. They will refund your ATM fees up to $9999.00 per month.

Features & Benefits

[+] Online Banking – Go paperless.
[+] Online ACHs – You may transfer money online.
[+] Debit/ATM Card – Get a debit/ATM card with your account.
[+] Regular Checks – You may write regular checks on paper.
[+] Online Banking – Manage your account via the internet.
[+] Online Bill Pay – Pay your bills over the internet with this account.
[+] Send Deposits By Mail – Mail your checks if you wish.
[+] ACH deposits and withdrawals may be initiated by another bank.
[+] Joint Accounts Available – Share this account with another person.

The Best Alternative Bank For Joint Checking Accounts If You Don’t Fancy The Others We Have Reviewed

iGObanking.com – iGOchecking Joint Accounts

Most people can set up a joint account with the company if they are old enough, but if you want the FDIC insurance, then you need to qualify for their three requirements, which are mostly based around rights, ownership, and who has control over the account.

If you have a joint account, you are only allowed up to a quarter of a million in insurance for your money, but that amount doubles if both are married to each other. You only need one dollar as your first deposit, after which there are no maintenance fees or minimum balances you need to maintain.

ACH withdrawals are limited to $15,000/trans and $50,000/month, and bank charges ATM withdrawal will cost you fees $1.50 with other other-bank ATMs. You can have your statements sent out to you at a massive $10.00/month fee. They do not charge you withdrawal fees if you use one of their ATMs. They are part of a network that allows you to use 35,000 of their ATMs in the USA without having to pay a fee for things such as withdrawals. We are aware that they are part of the AllPoint network, which means you should be able to use 43,000 of their ATMs for free, but the advisor we spoke to said it was only 35,000.

Earn Interest On Your Balance

You may earn money on your balance by keeping more than $1 in your account for one full statement cycle. Statement cycles are monthly, so you are paid 0.25 APY on your balance every month. They pay you on the lowest maintained balance. For example, if you put in $1000, but you spend $600, then there has only been $400 in your account for a full month, so that is the amount you earn interest on. Be sure to sign up for the high interest checking account and not their regular checking account.

Features & Benefits

[+] Regular Checks – You may write regular checks on paper.
[+] Online Bill Pay – Pay your bills over the internet with this account.
[+] Online ACHs – You may transfer money online.
[+] Send Deposits By Mail – Mail your checks if you wish.
[+] Joint Accounts Available – Share this account with another person.
[+] Debit/ATM Card – Get a debit/ATM card with your account.
[+] Online Banking – Manage your account via the internet.
[+] ACH deposits and withdrawals may be initiated by another bank.
[+] Online Statements – Get your statements off the internet.
[+] No Hard Inquiry – Applying will not hurt your credit rating.

One Of The Winners From Last Year

Clear Sky Checking Accounts – By Chesapeake Bank

In the section below, you will find all you need to know about Clear Sky Checking Accounts for joint accounts. It is a reasonably good bank, but it fell short this year, so we are not recommending it. I have included last year’s information below for people who already have a Clear Sky checking account. If you are already a member, then getting a joint account may be a good idea because you already have a history with the bank.

The Information From Last Year

Their website is pretty poorly laid out to the point where you will find information here quicker than you will if you go hunting around their website. Check out their FAQ sections for real answers to your questions about their accounts. If you want a joint checking account with Clear Sky Checking, the primary applicant must be 18 years or older and both applicants must be at least 14 years of age. This rule was built so that parents could set up accounts with their kids, but their joint accounts are also for adults too. The account has no maintenance fees and you only need a deposit of $1 to open it.

There is a limit on ACH withdrawals of $10,000/day, and the maximum number linked accounts are three for bank-to-bank transfers. If you want your statements by the post, it will cost $5.00/month. There is a $10 charge per month if your account has been inactive for 365 days (a truly ridiculous and heartless policy). In addition to high overdraft charges they have installed, they will charge $1.98 per day while your account overdrawn. They give ATM fee refunds for up to $20.00 each month. ACH deposits are limited to $50,000/day.

Features & Benefits

[+] Online ACHs – You may transfer money online.
[+] ACH deposits and withdrawals may be initiated by another bank.
[+] No Hard Inquiry – Applying will not hurt your credit rating.
[+] Send Deposits By Mail – Mail your checks if you wish.
[+] Joint Accounts Available – Share this account with another person.
[+] Debit/ATM Card – Get a debit/ATM card with your account.
[+] Online Banking – Manage your account via the internet.
[+] Online Statements – Get your statements off the internet.
[+] Online Bill Pay – Pay your bills over the internet with this account.

One Of The Winners From Last Year

EverBank – FreeNet Checking

In the section below, you will find all you need to know about EverBank FreeNet Checking. Last year, we were impressed by their terms, but things have taken a turn for the worse this year. Now, they want far larger deposits and far larger minimum balances in order to earn the APY rates they are advertising on their website.

The APY rates on their website are for the first year. They are introductory rates, so we asked what the rates will drop down to after one year, and they couldn’t tell us. I read the paperwork that came with the account when one of our team signed up for an account, and it says that the APY rate may change at any time without notice. The website is littered with high APY rates, but there is no saying what the rates will be next year. That is why EverBank’s FreeNet checking account didn’t make it into this year’s “Best Joint Checking Account” review. If you are already an EverBank customer, and you are looking for a joint account, then here is the information you will need.

The Information From Last Year

A fun fact about Ever Bank is that they have the worst online reputation in technical terms by name only, not because they are a bad bank, but because when people write about other banks and write “worst ever bank” or things such as “We’re not aware that it was ever bank policy,” then their name is flagged on the search engines. To open a joint account with them, you are going to have to pay a $1500 minimum deposit, but after that, there are no maintenance fees and no minimum balances to maintain. 2017 Update – the minimum deposit is now $5000.

You will have to pay an $8.95 (monthly) for their Online Billpay feature if your account balance falls below $5,000. You only get your ATM reimbursements if your balance is above $5,000. 2017 Update – they have changed this policy. There are no monthly maintenance fees and you get Bill Pay for free too.

They offer overdraft protection for your account where you link your account to another source of funds to ensure you cannot overdraw on your account. ATM fee refunds are available for up to $6.00 each month. Get your statements via the mail if you are happy to pay $3.00/month in fees. 2017 Update – If you maintain a minimum daily balance of $5000, then they will reimburse all your ATM fees on a monthly basis.

Features & Benefits

[+] Overdraft And Credit – Pass a credit check and get an overdraft or credit.
[+] Regular Checks – You may write regular checks on paper.
[+] Online Banking – Manage your account via the internet.
[+] Debit/ATM Card – Get a debit/ATM card with your account.
[+] Online Bill Pay – Pay your bills over the internet with this account.
[+] Online ACHs – You may transfer money online.
[+] Send Deposits By Mail – Mail your checks if you wish.
[+] No Hard Inquiry – Applying will not hurt your credit rating.
[+] Online Statements – Get your statements off the internet.
[+] Joint Accounts Available – Share this account with another person.

1114