While credit cards let you spend over and above your income, checking accounts tend to keep you under a tight leash when it comes to managing your finances. This because whenever you use your checking account to make any purchases or pay any bills, money is debited from the account. With income and expenses going in and out of your checking account, there is fluidity in your finances and you can keep a better track of your expenses. Since there are unlimited deposits and withdrawals allowed with checking accounts, you are in control of your finances, unlike a savings account that places a limit on the deposits as well as withdrawals.

Some of the best banks for checking accounts offer various perks, which include no ATM fees, cash back rewards, low or no minimum balance, and so on. Here is a list of some of some of the best banks for checking account.

Charles Schwab Bank
Although Charles Schwab is an investment company, it offers one of the best checking accounts in the market. Initially introduced exclusively for Charles Schwab investors, the Schwab Bank High Yield Investor Checking^® Account has various benefits such as zero fees to transfer funds to accounts at Charles Schwab as well as other banks, free bill payment, free checks, no charges for using ATMs, and free debit card. Also, these checking accounts charge very low fees and have a minimum balance requirement of just $1. The APY offered is 0.20%. Other perks include no charges for using foreign ATMs and immediate reimbursements for charges incurred for using ATMs of other banks anywhere in the world. This makes it perfect for regular international travelers.

Capital One
Primarily a provider of online checking accounts, Capital One is known for some of the best banking tools in the market and a very efficient customer support. One of the first banks to offer remote fund deposits through phone, Capital One offers a number of cutting-edge apps to make banking transactions hassle free. The tools and apps are streamlined to help customers manage their funds with ease. With no monthly fees and no minimum balance requirement to open a new checking account, the Capital One 360 Checking® account is a fee-free online checking account that pays one of the highest interest rates, which is above the national average of 0.05%. Moreover, the company offers a checking account without considering the ChexSystems reports.

Ally Bank
This is one of the well-rated and best bank for checking accounts in the online bank category. There are no monthly fees and no minimum balance requirement. The APY offered is 0.10%. Although the online checking accounts from Ally Bank do not let customers deposit cash, it does make up for this drawback by offering perks such as ATMs with zero charges and a reimbursement of $10 in every statement cycle to compensate for charges incurred while using ATMs of other banks. Moreover, Ally Bank offers a well-structured and highly responsive customer service.

Discover
Mostly known for its cash back credit cards, Discover is also one of the best banks for checking accounts. If a customer makes a purchase of around $3,000 every month, the cash back checking account from Discover will pay one percent cash back, which adds up to $360 cash back every year. However, this is cash back reward is applicable only if purchases are made using a debit card. There are no monthly fees and no minimum balance. Moreover, no fees are charged for online bill payments, debit card replacement, check reorders, and official bank checks.