Question 1

What is the highest savings account APY right now?

Accepted Answer

As of September 2026, top high-yield savings accounts on PickYourBank.com pay up to 4.00% APY — more than 10x the national average of 0.42%. Rates are variable and can change at any time, so the leaderboard at the top of this page is refreshed continuously.

Question 2

Is a high-yield savings account safe?

Accepted Answer

Yes. Every account we list is FDIC- or NCUA-insured up to $250,000 per depositor, per institution, per ownership category. Since the FDIC was created in 1933, no insured depositor has ever lost a single penny of insured funds — your principal is protected by the full faith and credit of the U.S. government even if the bank fails.

Question 3

How much can I earn with $10,000 in a 4.00% APY savings account?

Accepted Answer

At 4.00% APY, $10,000 grows to about $10,387 after one year of monthly compounding — roughly $387 in interest with zero effort. The same $10,000 in a traditional big-bank account at 0.42% would earn only about $42. That's a $345 difference for the exact same money and the exact same risk.

Question 4

Are there fees on high-yield savings accounts?

Accepted Answer

The accounts we recommend have $0 monthly maintenance fees and $0 minimum balance requirements — you earn the full headline APY from the first dollar. Watch for excess withdrawal fees if you exceed 6 transfers per month at some banks, plus wire fees and paper-statement fees at older institutions. Online-only banks tend to have the fewest fees of any category.

Question 5

Which checking account has the biggest sign-up bonus in 2026?

Accepted Answer

Top checking accounts in 2026 offer welcome bonuses up to $400 when you set up qualifying direct deposits within the first 90 days. SoFi, Chase, and Citi consistently lead the leaderboard above, with bonuses scaling based on direct deposit size — typically $50 for $1,000/month and the full $300–$400 for $5,000+/month.

Question 6

Are these checking accounts really fee-free?

Accepted Answer

Yes. Every account we feature has $0 monthly maintenance fees, $0 minimum balance requirements, and $0 overdraft fees on covered transactions. Many also reimburse out-of-network ATM fees worldwide and don't charge foreign transaction fees — a meaningful upgrade over legacy big-bank accounts that quietly cost $144–$300 per year in fees.

Question 7

Can I earn interest on a checking account?

Accepted Answer

Yes. Modern high-yield checking accounts pay 0.50%–4.00% APY on your balance — competitive with many savings accounts. Some, like SoFi Checking and Savings, pair a high APY with cash-back debit rewards, so your spending money keeps earning while it waits.

Question 8

Can I get cash back on a checking account?

Accepted Answer

Some modern checking accounts pay 1%–3% cash back on debit purchases at select merchants, combining the convenience of checking with rewards usually reserved for credit cards. Discover Cashback Debit pays 1% on up to $3,000/month, and SoFi rotates 15% cash-back categories with partner brands.

Best Online Banks of September 2026