Editor's Note: APYs listed in this article are up-to-date as of the time of publication, although they may fluctuate. CNBC Select will update as changes are made public.
A checking account is one of the most basic banking tools — a secure place to keep spending money with little or no return. With a premium checking account, though, you can enjoy discounted interest rates, waived fees, travel benefits, personalized customer service and more.
Many are interest-bearing acccounts, but the perks are the real draw.
You have to maintain a high minimum balance to avoid monthly maintenance fees — anywhere from $15,000 to $1 million, depending on the tier — but for high-net-worth individuals, frequent travelers or people with numerous accounts at the same bank, the benefits can be worth it.
CNBC Select has picked the best premium checking accounts from among the nation's top banks. (See our methodology for more information on how we compiled this list.)
Best premium checking accounts
- Best at Bank of America: Bank of America Preferred Rewards
- Best at Chase: Chase Premier Plus Checking℠
- Best at Chase for travelers: Chase Sapphire℠ Banking
- Best at Citibank: Citigold® by Citibank
- Best at HSBC: HSBC Premier
- Best at Wells Fargo: Wells Fargo Prime Checking
- Best at TD Bank: TD Beyond Checking Account
Compare checking accounts
Best at Bank of America
Who's this for? To qualify for Bank of America Preferred Rewards, you need at least $20,000 in eligible deposit or Merrill investment accounts. There are four reward tiers, depending on your combined average daily balances over the previous three months:
- Gold: $20,000 to $49,999
- Platinum: $50,000 to $99,999
- Platinum Honors: $100,000 to $999,999
- Diamond: $1 million to $9,999,999
- Diamond Honors: $10 million+
Benefits vary by tier, but include priority service, waived fees, loan and mortgage discounts, up to a 5% boost on saving and a rewards bonus of up to 75% on eligible Bank of America credit cards.
Bank of America Preferred Rewards
Combined account minimum to qualify
At least $20,000, using 3-month combined average daily balance from linked accounts; see different tier minimum balance requirements
Eligible accounts
Bank of America deposit accounts, Merrill investing accounts
Benefits
Depends on Rewards Tier: Interest rate discounts on loans, interest rate booster on savings, zero monthly maintenance fees, reduced origination fee on a mortgage, 25% to 75% rewards bonus on eligible Bank of America credit cards
See our methodology, terms apply.
Pros
- $20,000 is lower minimum balance than competitors
- Many accounts can contribute to meet minimum
- Wide variety of benefits
Cons
- At least $20,000 minimum balance required
Best at Chase
Who's this for? Chase Premier Plus comes with interest-bearing checking, four free out-of-network ATM transactions per month and waived fees for money orders, personalized checks and foreign transactions.
To have the $25 monthly service fee waived, you'll need to maintain one of the following:
- At least a $15,000 daily balance in eligible Chase accounts
- A qualifying first mortgage with Chase, enrolled in autopay
- Status as a service member or veteran with valid military ID
Chase Premier Plus Checking℠
Combined account minimum to qualify
To waive $25 monthly fee, at least $15,000 daily balance in Chase checking or qualified linked Chase accounts or a linked qualifying first mortgage enrolled in autopay or a current servicemember and veteran
Eligible accounts
Personal Chase checking accounts (excluding Chase Sapphire℠ Checking and Chase Private Client Checking℠) and Chase personal savings account(s) (excluding Chase Private Client Savings℠)
Benefits
Interest, no fees
Terms apply.
Pros
- $15,000 is lower minimum balance than competitors
- Chase mortgage enrolled in autopay or current servicemember/veteran status also qualifies
Cons
- $25 monthly fee
- At least $15,000 minimum balance required to waive monthly fee if Chase mortgage isn't an option and you're not a current servicemember and veteran
- Less benefits than competitors
Best at Chase for travelers
Who's this for? Chase Sapphire Banking is a standout for travelers, with no fees for foreign transactions or wire transfers, reimbursement for out-of-network ATM fees worldwide, exclusive access to sports and entertainment lounges and priority-seating access to concerts and other events.
Approval requires a minimum daily balance of $75,000 across qualifying Chase checking, savings and investment accounts.
Chase Sapphire℠ Banking
Combined account minimum to qualify
To waive $25 monthly fee, at least $75,000 daily balance in Chase checking or qualified linked Chase accounts
Eligible accounts
Chase checking, savings and other balances
Benefits
Zero foreign transaction fees, global ATM fee reimbursement, zero wire transfer fees, sports and entertainment lounge access, early ticket and priority event seating, relationship savings rates, Chase Offers, pairs with Chase Sapphire Preferred® Card and Chase Sapphire Reserve®
Terms apply.
Pros
- Many accounts can contribute to meet minimum
- Top benefit offerings
Cons
- $25 monthly fee
- High minimum balance required to waive monthly fee
This account pairs well with a Chase Sapphire Preferred® Card (See rates and fees) or Chase Sapphire Reserve® card (see rates and fees). In the past, Chase has even offered Chase Ultimate Rewards® points as a welcome bonus.
The Chase Sapphire Preferred® Card packs a punch for a $95 annual fee card, offering annual travel credits, comprehensive travel protections and more.
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase TravelSM, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases
- Earn up to $50 in statement credits each account anniversary year for hotel stays through Chase TravelSM
- 10% anniversary points boost - each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
The Chase Sapphire Reserve® is a standout premium credit card with plenty of luxury perks and statement credits to justify its annual fee.
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 150,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
- Get $3,000 in annual value with Sapphire Reserve.
- Earn 8x points on all purchases through Chase TravelSM, including The EditSM and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases
- $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
- Access over 1,300 airport lounges worldwide with a complimentary Priority PassTM Select membership, plus every Chase Sapphire Lounge® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck® every 4 years
- Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
- Get complimentary Apple TV+, the exclusive streaming home of Apple Originals. Plus Apple Music — all the music you love, across all your devices. Subscriptions run through 6/22/27 — a value of $288 annually
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Best at Citibank
Who's this for? Citigold by Citibank has the largest minimum balance requirement on our list — clients must maintain $200,000 combined in eligible deposit, retirement and investment accounts.
In return, they receive complimentary financial planning, waived banking fees, relationship-based loan pricing and exclusive access to entertainment and sports events. Travel perks include waived ATM foreign -exchange fees, unlimited reimbursement of out-of-network ATM fees, access to Citigold lounges and complimentary concierge services.
Citigold® by Citibank
Combined account minimum to qualify
Minimum combined monthly balance of at least $200,000 in eligible linked Citi accounts
Eligible accounts
Citi deposit, retirement and investment accounts
Benefits
Free financial planning, investment platform, waived fees, wealth management guidance, lower Citi loan pricing, exclusive access to entertainment and sports, out-of-network ATM fee reimbursement, Citigold lounge access, Citigold Concierge service, welcome bonus
Terms apply.
Pros
- Many accounts can contribute to meet minimum
- Top benefit offerings
Cons
- Highest minimum balance required
Best at HSBC
Who's this for? HSBC Premier Checking includes relationship rates on loans and mortgages, higher APYs on savings, over 55,000 fee-free ATMs worlwide and financial planning with a dedicated Wealth Relationship Manager. Premier status can be shared with up to four family members.
To avoid the $50 monthly fee, you'll need to maintain one of the following:
- At least $100,000 across deposit, investment, retirement or business accounts
- At least $5,000 in direct deposits per month from a non-HSBC account
- A first residential mortgage loan serviced by HSBC
- HSBC Private Bank status
HSBC Premier Checking
Account requirements
At least $100,000 in deposits and/or investments, at least $5,000 in direct deposits per month, a mortgage serviced by HSBC or Private Bank status.
Benefits
International banking, preferred loan and savings rates, no fee on foreign transactions, travel concierge services, 55,000+ fee-free ATMs, statement credits for TSA PreCheck or Global Entry, financial planning with a Wealth Relationship Manager
Fees
Monthly $50 fee waived if account requirement is met
Terms apply.
Pros
- Travel-friendly perks like no fees for foreign transactions or out-of-network ATMs, global emergency assistance
- Access to a dedicated financial adviser
- Monthly service fee is waived if you maintain account requirements
- Access to HSBC Premier World Mastercard.®
Cons
- High minimum balance requirement
- $50 monthly maintenance fee
- Low APY on interest-bearing account
Best at Wells Fargo
Who's this for? Wells Fargo Prime Checking comes with interest rate discounts, mortgage closing credits, waived ATM fees, relationship rates on CDs and savings accounts and access to credit card reward bonuses.
A minimum of $20,000 in qualifying Wells Fargo deposit, investment and retirement accounts lets you waive the $25 monthly service fee.
Wells Fargo Prime Checking
Combined account minimum to qualify
To waive $25 monthly fee, minimum $20,000 in qualifying linked Wells Fargo balances
Eligible accounts
Wells Fargo deposit, investment and retirement accounts
Benefits
Banking discounts, waived fees, interest rate discounts, relationship rates on linked CDs and savings accounts
See our methodology, terms apply.
Pros
- $20,000 is lower minimum balance than competitors
- Many accounts can contribute to meet minimum
- Decent variety of benefits
Cons
- $25 monthly fee
- At least $20,000 minimum balance required to waive monthly fee
Best at TD Bank
Who's this for? TD Beyond Checking account holders enjoy overdraft protection, reimbursement on non-network ATMs, free cashier's checks and money orders. Qualified new customers can earn $300 when they make $2,500 in direct deposits within 60 days of account opening.
The $25 monthly fee can be waived by meeting one of the following conditions:
- A minimum daily balance of $2,500
- $5,000 or more in direct deposits per month
- $25,000 combined minimum daily balance across eligible TD accounts
TD Beyond Checking Account
Monthly maintenance fee
$25, with 3 ways to waive
Minimum balance
$2,500 daily balance to avoid monthly maintenance fee
Free ATM network
Over 2,600 TD Banks network ATMs along the East Coast
Overdraft fee
$35 per transaction that overdraws your account balance by more than $50
Minimum deposit to open
$0
ATM fee reimbursement
Non-TD ATM fee waived if you maintain a daily minimum balance of $2,500
Mobile check deposit
Yes
Terms apply.
Pros
- No minimum deposit to open
- Option to waive monthly fees
- Overdraft assistance
Cons
- $25 maintenance fee
- Reimbursement for out-of-network ATM fees is only if you maintain daily minimum balance of $2,500
- Fewer in-network ATMs than some other brick-and-mortar banks
How to avoid the monthly fee (when you meet ONE of the requirements during each statement cycle):
- Have $5,000 or more in direct deposits within a statement cycle
- Maintain a minimum daily balance of $2,500
- Have $25,000 minimum daily combined balance of all deposit accounts, all outstanding home equity loan and home equity line of credit accounts, and/or mortgages in good standing (excludes credit cards and personal loans) that you choose to link
Premium checking account requirements
While premium checking accounts have minimum balance requirements to avoid paying monthly fees or being re-tiered, the amounts can vary greatly. You may also qualify with a minimum direct deposit, primary mortgage or by other means.
| Bank | Monthly fee | Minimum balance to waive fee |
|---|---|---|
| Bank of America Preferred Rewards | $25 | $20,000 |
| Chase Premier Plus | $25 | $15,000 |
| Chase Sapphire℠ Banking | $25 | $75,000 |
| Citigold® by Citibank | None | $200,000 |
| HSBC Premier | $50 | $100,000 |
| Wells Fargo Prime | $25 | $20,000 |
| TD Beyond | $25 | $25,000 |
Pros and cons of a premium checking account
Premium checking accounts attract customers with a variety of perks, but they do have their drawbacks.
- Often waive fees for out-of-network ATMs, foreign transactions and more
- Personalized customer service and financial planning
- Higher limits on deposits, transfers and daily withdrawals
- Preferred loan and mortgage rates
- Higher APYs on CDs and savings accounts
- High minimum balance requirement to avoid monthly service fee
- Some benefits may only be available on tier with even higher minimum balance
- Online banks without premium accounts typically have better interest rates
FAQs
What is a premium checking account?
A premium checking account usually has a high minimum account balance or a monthly maintenance fee, in return for top-tier benefits, including preferred loan rates, higher APYs, travel perks, waived fees and personalized customer service.
What do I need to open a premium checking account?
In most cases you need to maintain a high minimum balance, although the dollar amount can vary from as little as $10,000 to as much as $1 million, depending on the tier. Most banks will count the total balance across all qualifying deposit, investment and retirement accounts.
Are premium checking accounts worth it?
Premium checking accounts can be worth it if you're utilizing the perks enough to offset the monthly fee or balance requirement. In particular, they can benefit high-net-worth individuals, frequent travelers and people with multiple accounts at the same bank.
Do premium checking accounts have welcome bonuses?
Yes, many premium accounts have welcome bonuses, although the requirements may be higher than what's needed to avoid the monthly maintenance fee.
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed financial decisions. Every checking account review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of banking products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Our methodology
To determine the best premium checking accounts, CNBC Select analyzed dozens of U.S. checking accounts offered by the largest U.S. banks. We compared each premium checking account on various features, including its minimum balance requirements, eligible accounts to meet the minimum, benefits and fees. We typically favored accounts with lower minimum thresholds, except when higher minimums translated into a respectable amount of benefits.
Though checking accounts at big banks are FDIC-insured up to $250,000, note that your money in investment and retirement accounts at that same bank are not covered by insurance and therefore not guaranteed. Premium checking account fees vary by bank.
Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
