Best Checking Accounts in North Dakota for 2024
A bank is a lot more than a place to safeguard your money. It can be a place to build relationships with people in the community who care about your financial well-being and unique needs. For these reasons, many consumers choose to do business with banks in their area rather than deal with the impersonal service that’s sometimes provided by larger financial institutions.
Are you interested in finding out what local banks have to offer? Continue reading this page for information on the best checking accounts in North Dakota.
We also provide a glimpse of online banks, so you can decide if you’re interested in exploring those options as well.
Compare North Dakota and Online Checking Accounts
In some ways, doing business with online and physical banks is a similar experience. In other ways, the differences are quite stark. Below are comparisons of the two to help you understand what it’s like to be a customer at both.
Convenience
Customer Service
Deposits
Fees
Interest Rates
Withdrawals
Best Checking Accounts in North Dakota
Many consumers choose to do their banking close to home. If you’re interested in opening a checking account at a community bank, below are some of the best options in North Dakota.
Bell Bank
If you want a basic checking account, Bell Bank‘s America’s Best Checking option requires no minimum balance and does not charge monthly fees. The bank also offers two interest checking accounts. The America’s Best Interest Checking earns interest with a minimum balance of $500, while those with an America’s Best Premier Interest Checking account are required to have at least $5,000 in their account to earn interest. All of the accounts offered by Bell Bank include access to a mobile app, free standard checks, Zelle, and identity theft recovery services.
Gate City Bank
Gate City Bank has checking accounts that provide debit card rewards on purchases, overdraft protection, and free ATM access anywhere. The Totally Free Checking account can be opened with a $25 deposit and has no monthly service charge. The bank’s Benefit Interest Checking also has no monthly service charge and requires a $50 opening deposit.
Dacotah Bank
Consumers who want to handle their banking more environmentally friendly can open a Green Checking account at Dacotah Bank. This account incentivizes customers to use fewer paper checks by providing rewards for direct deposits and check card transactions.
However, when consumers do write paper checks on their account, there is a $.50 charge for each one. The bank also has a Free Checking and Interest Checking account.
How to Find the Lowest Checking Account Fees
You could be paying too much in checking account fees each month.
Check out some of our top checking account picks for those who want to save on checking account fees and enjoy the convenience of online banking.
Pros & Cons of Local Banks
The best checking accounts in North Dakota certainly have a lot to offer, but don’t automatically assume that they’re right for you. Here are the pros and cons of doing business with a local bank so you can make an informed decision.
Pros
- Local banks invest in the community, which helps the economy in the areas they do business in.
- Local banks foster long-term relationships with customers, so people really get to know the employees who work for them.
- Local banks personalize their service, so customers aren’t treated like just an account number.
Cons
- Local banks may not have a mobile app with many of the features consumers want.
- Local banks are often behind on trends, so they don’t have the most up-to-date product offerings.
- Local banks do not have many branches, so it may be challenging to do in-person transactions.
Online Checking for North Dakota Residents
Opening a checking account at a local bank can be a great decision, but that doesn’t mean alternatives don’t also have a lot to offer. If you want to learn about online banks, continue reading. Below is a look at some online checking accounts to give you an understanding of how they may be a good option for your financial needs.
Axos Checking
Axos Bank provides three types of online checking accounts: Essential Checking, Rewards Checking, and CashBack Checking, each tailored to different banking needs. Essential Checking is Axos’s most accessible option, offering a straightforward, no-fee structure with no overdraft fees and unlimited ATM fee reimbursements in the U.S. It’s a good fit for those seeking a hassle-free experience.
Rewards Checking is an interest-bearing checking account, though it requires meeting specific monthly activities like direct deposits and maintaining account balances to earn the full rate. This account is suited to those looking to maximize earnings on checking balances and willing to fulfill requirements.
CashBack Checking offers cashback on qualifying debit card purchases for higher-spend users, making it ideal for frequent debit card users who want rewards. Axos’s checking options are fully online, which offers convenience but may lack appeal for those who prefer in-person banking services.
Chase Checking
Chase offers a range of checking accounts that blend traditional banking with the convenience of online features. Options include Chase Total Checking, Chase Premier Plus Checking, and Chase Sapphire Checking, each designed for different financial needs and goals.
The accounts come with a variety of benefits, such as overdraft protection, online bill pay, and easy access to ATMs across the country. Online and mobile banking options allow account holders to manage transactions, deposits, and transfers conveniently.
Additionally, Chase’s network of physical branches offers an added layer of accessibility for those who prefer in-person assistance.
There are some account fees to be aware of, though Chase does provide options for waiving them based on factors like direct deposits or maintaining a minimum balance.
The accounts’ flexibility and Chase’s extensive branch network make these checking options versatile, though users should review potential fees and conditions carefully to determine the best fit.
SoFi® Checking and Savings
SoFi’s Checking and Savings account provides an all-digital, fee-free banking experience with a few standout features.
The account combines both checking and savings functions, which simplifies management while offering higher-than-average interest rates, especially for direct deposit users.
This account includes tools for automatic savings, such as vaults for setting aside funds and a “round-up” feature that rounds purchases up to the nearest dollar, moving the extra amount into savings.
Additionally, SoFi provides access to a large network of ATMs, and it reimburses fees for out-of-network ATMs in the U.S. up to a certain amount.
Due to SoFi’s fully digital nature, branch access is not available. However, the mobile and web platforms offer comprehensive account management, including bill pay, transfers, and remote check deposits.
For those comfortable with digital-only banking, SoFi’s Checking and Savings can be a strong choice, though it may not suit individuals needing in-person support.
Pros & Cons of Online Checking Accounts
Although online banks do offer checking accounts, they may not be the best choice for your needs. Consider the pros and cons below to weigh this option.
Pros
- Online banks have mobile apps with robust features, so you can get the most out of them.
- Online banks are FDIC-insured, just like traditional ones.
- Online banks provide higher interest rates than local banks.
Cons
- Online banks can be impersonal, so people who want a more individual touch may not feel comfortable with them.
- There are no branches, so it’s not a good choice for those who prefer face-to-face interactions.
- It can be difficult to deposit cash at an online bank.
What to Look for When Choosing a Checking Account in North Dakota
Are you most concerned about having access to several ATMs? Do you want transactions readily available at your fingertips through a mobile app? Are you looking for interest checking accounts with the best rates?
Consumers look for many features when choosing the best checking accounts in North Dakota, and we discuss some of them below.
Monthly Fees
Maintenance fees can be a bit pricey at some banks, so the best checking accounts have no fees at all or low ones. Some banks give you the opportunity to have the fees waived depending on the specific criteria they’ve set.
Other Fees
Other fees can also be costly, depending on the bank. The good news is they can often be controlled.
ATM fees, for example, can be minimized by ensuring that you only use in-network ATMs or don’t exceed the number of out-of-network withdrawals your bank will reimburse.
Other fees, like non-sufficient funds and returned check fees, can be avoided by keeping a close eye on your account.
ATM and Branch Access
The more ATMs and branches a bank has, the better your experience will be. Having many options will save you the time of traveling far distances to a branch and the expense of fees that come from out-of-network ATM withdrawals.
Interest Rates or Bonuses
Checking accounts usually don’t earn interest, but some banks offer accounts that do. In some cases, these accounts may also have tiered interest, so the more you keep in your account, the more you earn. Banks may also offer additional perks, such as the ability to earn cash back on certain debit card purchases.
Mobile Apps
A mobile app can make it easier to do a lot of your banking, and the best banks in North Dakota have apps that give you the most features. While some banking apps only offer the basics, like the ability to check balances and transfer funds from one account to another, other apps include features like peer-to-peer transfers and financial planning tools.
What to Know About North Dakota Checking Accounts
- In North Dakota, writing a check when there are not sufficient funds in an account is a legal violation. If the check is less than $100, it is a legal infraction; checks $100 to $500 are classified as a Class B misdemeanor; checks that are $500 to $1,000 are considered a Class A misdemeanor; and it’s a Class C felony if the insufficient funds amount exceeds $1,000.
- Banks do not have to pay a check presented more than six months after the date it was written.
- Banks are not required to retain the records of checking accounts after six years.
