Best Checking Accounts in Maryland of May 2022

Katie Stiner

Are you in the market for a new checking account? Maryland has over 80 different banks and hundreds of branches. Whether you are looking to switch banks or open an account for the first time, there are plenty of options to choose from in Maryland.

Banking your money gives you better control over your income. It allows you to leap into the world of financial success. With so much importance attached to a checking account, it is important to select one best suited for your financial needs. 

Start by determining your individual preferences and banking habits. Knowing what you want will help you narrow down your options. For example, if you prefer using your smartphone for most of your banking transactions, narrow down your options to checking accounts with the most advanced mobile app. Shop around and gather information on the fees and features of the available options.

Choosing the right checking account can be challenging. Lucky for you, we have done most of the hard work for you. We reviewed some of the available options and selected some of the best checking accounts in Maryland. Take a look at our selected options to find your match today! 

Full service online banking

$0

Monthly Fee

1.25%

Est. APY

Overview

This checking account is great because you won't have to worry about paying monthly fees if your balance goes to $0. Not only that, Axos Bank reimburses fees charged by domestics ATMs. When opening an account, you only need to deposit $50 to open it but it can be removed without any issues and fees. To get the high APY, you need to deposit $1000+ monthly and make 15 debit card transactions a month.

What we like

  • No monthly service fee
  • No minimum deposit for no fee
  • Competitive interest rate
  • Unlimited ATM fee reimbursements
  • Full service online banking

What we don't

  • No physical branches
  • Conditions to qualify for higher APY

Get paid up to 2 days earlier

$0

Monthly Fee

4.00%*

Est. APY

Overview

Current is a financial technology company that provides banking services through Choice Financial Group, a member of the FDIC.

What we like

  • Free overdraft up to $200
  • No hidden fees
  • Fast direct deposits
  • Cashback rewards
  • Easy to use mobile app

What we don't

  • *APY limited to first $6,000 only
  • No physical branches

Current is a financial technology company, not a bank. Banking services provided by and Visa® Debit Card issued by Choice Financial Group, Member FDIC, pursuant to a license from Visa U.S.A. Inc and can be used everywhere Visa debit cards are accepted.

Teen accounts do not earn points

The Annual Percentage Yield (“APY”) for Current Interest is variable and may change at any time. The disclosed APY is effective as of April 1, 2022. No minimum balance required. Must have $0.01 in Savings Pods to earn Current Interest on up to $2000 in deposits per Savings Pod up to $6000 total. Please refer to Current Interest Terms and Conditions

Out of network cash withdrawal fees, third-party, and adding cash fees may apply.

Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer’s submission of deposits.

Please refer to Overdrive™ Features Terms and Conditions.

Extensive branch and ATM access throughout the nation

$0 - $12

Monthly Fee

0%

Est. APY

Overview

Chase provides you with an easy-to-use online banking and mobile app service to help you manage your account day-to-day. In addition, with branches across the U.S., you can receive personalized support at a location convenient for you.

What we like

  • Extensive branch and ATM network
  • Online banking and mobile app services
  • $0 minimum deposit requirement
  • $12 monthly fee can be waived
  • Send and receive money with Zelle

What we don't

  • No ATM fee reimbursements
  • Overdraft and insufficient funds fee

No monthly service and maintenance fees

$0

Monthly Fee

1.01%

Est. APY

Overview

Quontic helps maximize your savings, while managing everyday finances, by paying a high rate on your entire account balance. To qualify for the interest rate, you have to make a minimum of 10 qualifying point of sale debit card transactions that are at least $10 each, per statement cycle

What we like

  • No monthly service fee
  • No minimum deposit for no fee
  • High interest rate
  • Expansive no-fee ATM network
  • Full service online banking

What we don't

  • Minimum deposit of $100 to open account
  • Condition to qualify for interest

Socially-conscious and sustainable financial services

$0 - $7.99

Monthly Fee

3.00%*

Est. APY

Overview

Aspiration guarantees that none of the funds is ever used to fund fossil fuel projects or non-environmentally friendly projects. Aspiration’s acute focus on environmentally friendly practices will align with your views if you are environmentally conscious.

What we like

  • Funds socially responsible projects
  • No hidden fees
  • Up to 5% cashback on select merchants
  • User friendly mobile app
  • High APY

What we don't

  • *$1000/m spend required to get APY
  • Cashback limited to few merchants

Keep track of spending while earning cashback rewards

$0

Monthly Fee

1.25%

Est. APY

Overview

SoFi Checking and Savings allows you to simplify your banking, pay bills and earn interest. You can earn the APY on your entire account balance if you deposit at least $500 a month in your account.

What we like

  • Track your spending in the app
  • Paid up to 2 days earlier
  • Cashback rewards
  • No monthly fees
  • High APY

What we don't

  • Withdrawal limits
  • No cash deposits