Key takeaways
- Joint checking accounts let two people manage shared expenses with equal access to funds — ideal for couples, parents with teens, or adult children helping aging parents.
- The best joint checking accounts offer no monthly fees, competitive APYs and features like overdraft protection and mobile banking tools.
- Before opening an account, compare rates, overdraft policies and digital tools that fit both owners’ needs.
Joint checking accounts simplify shared finances, whether you’re splitting rent with a partner, helping an aging parent pay bills or teaching your teenager money management. The right account eliminates the hassle of splitting payments, Venmo-ing each other or tracking who paid what.
Here are Bankrate’s top-rated joint checking accounts for November 2025, with updated APYs and new offers from online banks and credit unions.
Want to compare other accounts? See Bankrate’s picks for best checking accounts.
Best joint checking accounts
Note: Bankrate’s editorial team validates this information regularly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC banks or NCUA credit unions in its listings.
| Bank | APY | Monthly fee | Minimum deposit | Best for |
|---|---|---|---|---|
| Ally Bank Spending Account | 0.10% APY on balances under $15,000 | 0.25% on balances $15,000+ | $0 | $0 | Couples managing everyday spending |
| Discover® Cashback Debit | 1% cash back on up to $3,000/mo | $0 | $0 | Debit card users who want cash back on everyday spending |
| SoFi Checking & Savings | Up to 0.50% APY on checking | Up to 4.30% APY on savings (requires direct deposit) | $0 | $0 | Couples building savings alongside everyday spending |
| Capital One 360 Checking | 0.10% APY on all balances | $0 | $0 | Joint owners who want online banking with occasional branch access |
| EverBank Yield Pledge Checking | 0.25% APY on all balances | $0 (with $5,000+ balance or $5,000+ in monthly direct deposits) | $100 | Joint owners who want consistently competitive rates without chasing promotions |
| Alliant High-Interest Checking | 0.25% APY on all balances | $0 | $25 | Couples who want high-yield checking with credit union benefits |
| NBKC Everything Account | 1.75% APY on all balances | $0 | $0 | Couples who want high-yield checking and integrated savings |
| Chase Total Checking® | No APY | $12 (waived with $500+ in monthly direct deposits, or $1,500+ daily balance, or linked to Chase Premier Plus Checking or Chase Premier Platinum Checking) | $0 | Joint owners who prioritize branch and ATM access |
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Ally combines everything you’d want from an online bank — above-average interest rates, zero fees, and genuinely useful tech features. The tiered APY structure rewards you for keeping a higher balance, making this ideal if you’re pooling funds for upcoming expenses or maintaining a buffer.
The standout feature: Ally’s round-up tool. Connect your Ally Spending Account to an Ally Savings Account (which earns 3.30% APY), and every debit card purchase automatically rounds up to the nearest dollar. Those pennies go straight into savings. If both account holders are swiping the debit card regularly, you’re building savings without thinking about it.
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No physical branches, so you can’t deposit cash directly. You’ll need to use a money order or mobile check deposit workaround.
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Capital One threads the needle between online and traditional banking. You get the perks of an online bank (competitive rates, no fees, strong mobile app) with the option to visit Capital One branches on the East Coast and South, or Capital One Cafés in select Western states.
The real advantage: cash deposits. Unlike most online banks, Capital One lets you deposit cash at branches and cafés at no charge. If either account holder deals with cash regularly — think side gig payments, tips or gifts — this solves a major pain point.
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- To open a joint checking account, you’ll need to first open an individual checking and then add a joint owner. At other banks, you can open a joint account immediately.
- Capital One 360 doesn’t charge you a fee for using an out-of-network ATM but it won’t reimburse you the ATM fees charged by the ATM owner.
- Cash deposits are available but can only be made at Capital One ATMs or at any CVS or Walgreens. This might not be convenient if you frequently handle cash.
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Chase can’t compete on interest rates, but it wins on access. With over 4,700 branches and 15,000 ATMs nationwide, Chase offers the largest banking network in the country.
If you or your co-owner value in-person service or need frequent ATM access while traveling, that’s worth something.Plus, Chase regularly offers new account bonuses ($200-$300 is typical) when you set up direct deposit. For couples opening their first joint account together, that’s free money just for switching banks.
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- No interest and a $12 monthly fee if you fail to make electronic deposits of $500 or maintain a balance of at least $1,500.
- If you enroll in overdraft protection, you will be on the hook for an $34 overdraft fee if you overdraft by more than $50 and remain overdrawn by that much by the end of the next business day. And Chase can charge you that $34 fee three times a day — so you’re risking $102 a day in overdraft fees.
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If you and your joint account holder primarily use debit cards, Discover turns everyday spending into rewards. Earn 1% cash back on up to $3,000 in monthly debit purchases — that’s $30 back per month, or $360 per year. For a couple splitting groceries, gas, and dining out, this adds up fast.
Discover also includes fee-free overdraft protection (when you link a savings account) and lets you deposit cash for free at Walmart locations nationwide.
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- You can’t deposit cash at ATMs. Cash deposits are only available at Walmart locations.
- If you and your joint owner don’t use your debit card often throughout the month, you could be better off with a different account that earns interest instead of cash back.
- No interest on balances, so this isn’t ideal if you keep a large cushion in checking.
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NBKC’s “Everything Account” combines checking and savings in one product paying 1.75% APY on all balances — significantly higher than most checking accounts. The built-in savings goal-setting tool helps couples track progress toward shared goals (vacation fund, down payment, emergency buffer) without opening multiple accounts.
You also get early direct deposit (up to two days early), no minimum balance requirements, and a large fee-free ATM network.
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- The 1.75% APY is competitive for checking but lower than dedicated high-yield savings accounts (which pay 4.00%+ APY). If you’re parking significant funds long-term, you might earn more by splitting between NBKC checking and a separate high-yield savings account.
- Combining “everything” in an everything account can get messy if you and your joint owner aren’t careful. In many cases, it’s smart to keep a defined line between your spending and your saving accounts.
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SoFi automatically opens both checking and savings when you sign up, which makes it easy for couples to separate “money to spend” from “money to save.” The checking account pays up to 0.50% APY (competitive for checking), while the savings account earns up to 4.30% APY when you set up direct deposit.
SoFi’s round-up feature mirrors Ally’s: every debit card purchase rounds up to the nearest dollar, with the difference transferred to savings. This passive saving strategy works especially well when two people are using the same account for daily expenses.
You also get early direct deposit, a large fee-free ATM network, no overdraft fees, and no account minimums.
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- The bonus offer is impressive — up to $300 — but you’ll need to arrange a direct deposit of at least $5,000 during the qualifying period. You’ll earn $50 with direct deposits of $1,000 to $4,999 but if your direct deposits amount to less than $1,000, you won’t earn a bonus at all.
- Strong savings APY only available with monthly deposits of at least $500. You can find a high-yield savings account with a higher APY and fewer requirements.
- Cash deposits are available through the bank’s partnership with Green Dot, but they’ll cost you up to $4.95 and are only available at participating retail locations within the Green Dot network.
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EverBank (formerly TIAA Bank) makes a bold promise with its Yield Pledge Checking: if you find a higher rate from a competitor bank, EverBank will match it and add an extra 0.05% APY for three months. That guarantee means you’re not constantly shopping around or worrying you’re missing out on better rates elsewhere.
The account functions like a hybrid checking-savings product, paying high-yield savings account rates on your checking balance. For couples who keep larger balances in checking (for shared expenses, rent, or an emergency buffer), this structure lets you earn serious interest without shuffling money between accounts.
EverBank also offers strong ATM fee reimbursement (up to $15 monthly for out-of-network ATMs), mobile check deposit, and bill pay tools that make it easy for two people to manage shared finances.
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You’ll need to maintain a $5,000 balance or receive $5,000+ in monthly direct deposits to avoid the monthly fee. This makes it better suited for couples with steady income or higher balances, not those just starting out.
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Alliant Credit Union offers one of the most competitive APYs you’ll find on a checking account, period. While most checking accounts pay 0.01%-0.10%, Alliant’s high-rate checking pays significantly more — putting it in competition with many savings accounts.
The account works well for couples who want simplicity: keep your shared funds in one place, earn strong interest, and skip the complexity of managing multiple accounts. Both owners get full access to mobile banking, bill pay, and a network of 80,000+ fee-free ATMs nationwide.
As a credit union, Alliant also tends to offer better customer service and lower fees than traditional banks. You get the high-tech features of an online bank (mobile deposit, instant alerts, budgeting tools) with the member-focused approach of a credit union.
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The high APY requires you to receive at least one electronic deposit (direct deposit, ACH transfer, mobile check deposit) each month and opt for paperless statements. Miss either requirement, and your rate drops to a much lower tier. Also, as a credit union, you’ll need to qualify for membership (typically by joining a partner organization or making a small donation).
Why open a joint checking account?
Joint checking accounts streamline shared financial responsibilities. Instead of splitting every bill, Venmo-ing your partner constantly, or maintaining complicated spreadsheets, joint accounts put shared money in one place where both owners have equal access.
“Joint checking accounts allow for joint fiscal management between individuals,” says Michelle Smoley, director of personal and college finance at Bright Horizons College Coach. “This can be beneficial for spouses, parents with young adult children, and adults with aging parents.”
The practical benefit: immediate access. If one account owner becomes unable to manage finances (due to illness, injury, or death), the other owner can still access funds and handle financial obligations without legal complications.
Risks of having a joint bank account
Joint accounts come with shared risk. Both owners have full legal access to all funds — which means either person can withdraw the entire balance at any time without the other’s permission.
If a relationship ends badly (divorce, family dispute, financial disagreement), one owner could empty the account before the other realizes what’s happening. If this occurs, your recourse is limited. You could sue in small claims court, but there’s no guarantee you’ll recover your money.
Only open joint accounts with people you trust completely. For relationships that aren’t committed long-term, consider alternatives like splitting bills manually, using payment apps or maintaining separate accounts with a shared expense tracking system.
What to look for in a joint checking account
No monthly fees
Many checking accounts charge $10-$15 monthly maintenance fees unless you meet specific requirements (minimum balance, direct deposit, or minimum monthly transactions). Over a year, that’s $120-$180 lost to fees.
The best joint checking accounts eliminate this entirely. Online banks typically offer fee-free accounts with no strings attached, while traditional banks often require you to jump through hoops to avoid fees.
Competitive APYs
Most checking accounts pay little to no interest. But if you’re keeping a cushion in checking for shared expenses, rent, or emergency funds, that money should be earning something.
Look for checking accounts paying at least 0.10% APY. The best high-yield checking accounts pay up to 1.75% APY — not as high as dedicated savings accounts (4.00%+ APY), but significantly better than the 0.01% most traditional banks offer.
Compare the best high-yield checking accounts.
Fee-free overdraft protection
With two people spending from one account, overdrafts become more likely. The best joint checking accounts offer fee-free overdraft protection by linking to a savings account or allowing small negative balances without penalty.
Some banks let you overdraw by up to $50 without fees. Others charge $30-$35 per overdraft — which adds up fast if you’re not tracking spending carefully between two users.
Mobile banking and budgeting tools
A strong mobile app is non-negotiable for joint accounts. Both owners need to:
- Check balances in real-time
- Set up spending alerts
- Transfer money between accounts
- Deposit checks remotely
- Lock or freeze debit cards if lost
Some accounts include budgeting tools, spending categorization, and savings goal trackers — useful features when two people are managing shared finances.
Round-up features and automatic savings
If you’re opening a joint checking account with a partner, consider accounts that include round-up savings features. Every debit card purchase rounds up to the nearest dollar, with the difference automatically transferred to savings.
When both account holders are using the same debit card regularly, these small amounts add up to hundreds of dollars in savings annually — without requiring any active effort.
Sign-up bonuses and perks
Many banks offer $200-$300 sign-up bonuses when you open a new checking account and set up direct deposit. If you’re opening a joint account for the first time, this is essentially free money for switching banks.
Some checking accounts also offer debit card rewards (like Discover’s 1% cash back) or access to high-yield savings rates when you bundle accounts.
Find the best checking account bonuses available now
Safety and insurance
Only open accounts at FDIC-insured banks or NCUA-insured credit unions. This protects your deposits up to $250,000 per depositor, per institution, per account category in the event of bank failure.
For joint accounts, FDIC insurance covers $250,000 per co-owner — meaning a joint account with two owners is insured up to $500,000.
How to open a joint checking account
Opening a joint checking account works just like opening an individual account, except both owners need to provide personal information:
- Full legal name
- Date of birth
- Social Security number
- Email address
- Phone number
- Physical address
- Government-issued ID (driver’s license, passport, or state ID)
Opening deposit: Some banks require minimum opening deposits ($25-$100 is typical), though many online banks have eliminated this requirement entirely.
Here’s a step-by-step process to opening a joint account:
- Choose your account from our recommendations above
- Start the application online (most banks allow full online applications)
- Enter both account holders’ information — both people need to be present or available to provide details
- Fund the account via bank transfer, debit card, or check deposit
- Activate debit cards when they arrive (typically 7-10 business days)
Can you add someone to an existing checking account? Some banks allow you to convert individual accounts to joint accounts by adding a second owner. However, this varies by institution — many require you to open a new joint account and transfer funds from the individual account.
Joint checking account FAQs
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Yes. Joint accounts — just like individual accounts — may pay interest. It’s up to individual banks and credit unions to determine whether an account earns interest.
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Many banks and credit unions use bonus offers to attract new customers, and these promotions may vary throughout the year. As you compare options for joint accounts, do your research to compare offers for bonus cash. In most cases, you’ll need to perform some sort of qualifying activity to qualify such as setting up a direct deposit.
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Overdraft protection is an optional service that many banks and credit unions offer that authorizes transactions that would put your account in the negative. Some overdraft protection programs link a customer’s checking account with a savings account or a line of credit. If the balance of the checking account drops to zero while trying to make a payment, funds from the linked account will automatically transfer to make sure that the transaction clears. Some banks may charge for these services, though there are ways to avoid overdraft fees.
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Call the bank or credit union to learn about their policies for making changes to accounts. In some cases, you may be able to remove your own name from the account. In others, the two account holders may need to close a joint bank account entirely and set up individual accounts. Because both names are on the account, you’re both legally entitled to the funds, which can create some challenges in attempting to remove one name.
Research methodology
Bankrate researches and reviews over 100 banks, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.
To find the best joint checking accounts, we looked at which of our highest-rated checking accounts allow joint checking as these accounts are equally great options for sharing with someone as they are for an individual. Most of the highly-rated checking accounts were from online-only banks, so we also included Chase as an option for those with a joint owner who may not be comfortable banking online and wants access to a brick-and-mortar bank. We chose Chase as it has branches in 48 states and Washington, D.C.
To find the best joint checking accounts for kids and teens, we looked at which of our broadly-available banks and credit unions offered an account specifically for kids or teens. Then, we looked at the features each one provided, such as APY and parental controls and spending limits, to determine which accounts were best for kids and teens to use and learn money management skills.
Learn more about how we choose the best banking products and our methodology for reviewing banks.
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