Compare account types
Three common ways to hold a checking account, compared on the criteria that actually decide whether one costs you less — not on which one has the flashiest app.
- Typical monthly fee
- Typical minimum balance requirement
- ATM access
- Overdraft handling
- Branch access
| Criterion | Traditional big-bank checking | Online-only bank checking | Credit union checking |
|---|---|---|---|
| Typical monthly fee | $5 to $25, often waivable with a minimum balance or direct deposit | Usually $0, with no waiver condition to track | Often $0, or a small fee, sometimes tied to membership terms |
| Typical minimum balance requirement | Common, often $500 to $2,500 to waive the fee | Rare — most have none | Uncommon, and typically lower than a traditional bank's |
| ATM access | Large proprietary branch and ATM network | Large partner network plus fee reimbursement, but no branches | Smaller network, sometimes offset by shared ATM alliances between credit unions |
| Overdraft handling | Standard $27-$35 fee unless you opt out or add protection | Often declines the transaction instead of charging a fee, or offers a lower-cost buffer | Often more flexible, sometimes with lower or no overdraft fees for members |
| Branch access | Widest in-person branch network, useful for cash deposits and complex issues | None — everything is app, phone, or mobile deposit based | Smaller, local branch network, often strong for in-person service |
This table describes typical terms and typical fee structures, not any specific bank's or credit union's exact terms — individual institutions vary, and fees and policies change over time. It cannot tell you whether you'd be approved for any specific account, and it is not a recommendation to open an account with a specific institution.
Where to look at real accounts in each category
How we make money: some links here are partner or affiliate links and we may be paid a fee at no cost to you. It never changes what we write or how options are ordered — see our disclosure and methodology.
CIT Bank high-yield savings
An online high-yield savings account for cash that doesn't need to sit in checking.
See CIT Bank savings options →Empower money management app
A budgeting and net-worth tracking app for seeing every account and fee in one place.
See Empower options →