Best Bank Accounts for 2023 [Updated]

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For our annual Best Banks ranking, the experts at My Millennial Guide analyzed over thousands of data points across more than 120 banks.

Looking for a new bank account? Perhaps one with a lucrative bank account bonus?

best bank accounts

For our annual Best Banks ranking, the experts at My Millennial Guide analyzed over thousands of data points across more than 120 banks.

We did the research so that your hard work can pay off with the best rates at the best banks.

Best Online and High Yield Savings Accounts of 2023

Choose a high-interest savings account from our list of top banks to start saving today.

Best for large balances
No monthly fees
Offers welcome bonus
Ease of use
No balance req.
APY: 5.05%
APY: 4.65%
APY: 4.60%
APY: 4.50%
APY: 4.40%
Text:
Minimum to Earn APY: $5,000
Text:
Minimum to Earn APY: $100
Text:
Minimum to Earn APY: $1
Text:
Minimum to Earn APY: $100
Text:
Minimum to Earn APY: $0
Intro::
Bonus: N/A
Intro::
Bonus: N/A
Intro::
Bonus: $300
Intro::
Bonus: N/A
Intro::
Bonus: N/A
Best for large balances
APY: 5.05%
Text:
Minimum to Earn APY: $5,000
Intro::
Bonus: N/A
No monthly fees
APY: 4.65%
Text:
Minimum to Earn APY: $100
Intro::
Bonus: N/A
Offers welcome bonus
APY: 4.60%
Text:
Minimum to Earn APY: $1
Intro::
Bonus: $300
Ease of use
APY: 4.50%
Text:
Minimum to Earn APY: $100
Intro::
Bonus: N/A
No balance req.
APY: 4.40%
Text:
Minimum to Earn APY: $0
Intro::
Bonus: N/A

Best Online Checking Accounts of 2023

For convenience and flexible money management, you can’t beat a checking account. Our best checking accounts list includes many top banks with no-fee and online banking options.

Best for liability protection
Best for cashback rewards
Best for APY
Best for mobile banking
Best for building credit
MMG Rating:
5.0
MMG Rating:
5.0
MMG Rating:
4.5
MMG Rating:
3.9
MMG Rating:
4.5
Monthly fee: $12
Monthly fee: $0
Monthly fee: $0
Monthly fee: $0
Monthly fee: $0
Pros:
  • Bonus: $300
  • APY: N/A
Pros:
  • Bonus: $300
  • APY: 3.30%
Pros:
  • Bonus: $250
  • APY: 0.50%
Pros:
  • Bonus: N/A
  • APY: 0.10%
Pros:
  • Bonus: N/A
  • APY: N/A
Best for liability protection
MMG Rating:
5.0
Monthly fee: $12
Pros:
  • Bonus: $300
  • APY: N/A
Best for cashback rewards
MMG Rating:
5.0
Monthly fee: $0
Pros:
  • Bonus: $300
  • APY: 3.30%
Best for APY
MMG Rating:
4.5
Monthly fee: $0
Pros:
  • Bonus: $250
  • APY: 0.50%
Best for mobile banking
MMG Rating:
3.9
Monthly fee: $0
Pros:
  • Bonus: N/A
  • APY: 0.10%
Best for building credit
MMG Rating:
4.5
Monthly fee: $0
Pros:
  • Bonus: N/A
  • APY: N/A

Best Money Market Accounts

Money market accounts boost your savings interest and can even offer you exclusive perks. Take a look at our list to see how you can use the best money market accounts to your advantage.

  • Ponce High Yield Money Market Account
  • American First Credit Union Money Market Deposit Account
Ponce High Yield Money Market Account
American First Credit Union Money Market Deposit Account
Quontic Money Market Account

Want an Online Broker For Stock Trading?

Finding the right brokerage account for your financial goals can be challenging. Make that smart money move to boost your financial power and start investing today.

Micro-investing app
Commission-free
Automatic investing
MMG Rating:
4.5
MMG Rating:
4.5
MMG Rating:
5.0
Fees: $3-$9 monthly
Fees: Free
Fees: $3-$9 monthly
Description:

Acorns is best suited for individuals looking to start investing with minimal effort and those who want to save and invest their spare change.

Description:

Robinhood is best suited for various types of investors, especially those who are new to investing or prefer a user-friendly platform that is commission-free.

Description:

Stash is best for investors who want to buy fractional shares of stocks and ETFs, build diversified portfolios, and get automated investment management.

Micro-investing app
MMG Rating:
4.5
Fees: $3-$9 monthly
Description:

Acorns is best suited for individuals looking to start investing with minimal effort and those who want to save and invest their spare change.

Commission-free
MMG Rating:
4.5
Fees: Free
Description:

Robinhood is best suited for various types of investors, especially those who are new to investing or prefer a user-friendly platform that is commission-free.

Automatic investing
MMG Rating:
5.0
Fees: $3-$9 monthly
Description:

Stash is best for investors who want to buy fractional shares of stocks and ETFs, build diversified portfolios, and get automated investment management.

Earn $300 bonus
Axos Bank® Rewards Checking
5.0

A free account with unlimited ATM fee reimbursements. You don't have to worry about keeping a minimum balance with Axos' Rewards Checking. As with the bank's other checking accounts, there are no monthly fees, and all fees charged by domestic ATM operators are reimbursed. Axos doesn't charge any ATM fees itself.

Open Account Read Review

About the author

Brian Meiggs
Hi, I'm Brian Meiggs! A personal finance expert, entrepreneur, and the founder of My Millennial Guide. My drive is to help others unlock the wealth of freedom and pave the path to financial success. With my bachelor's degree in finance, I help millennials follow the smart money in order to increase their earning potential and start building wealth for the future. I write regularly about side hustles, investing, and general personal finance topics aimed to help anyone earn more, pay off debt, and reach financial freedom. I have been quoted in major publications including Business Insider, Yahoo Finance, NASDAQ, Discover, GoDaddy, BiggerPockets, Fox News, Debt.com, Quick Sprout, Money Geek, MSN Money and many more!