Best Checking Accounts in Tennessee for 2025
Some consumers only see a bank as a place to store their money, but others want more than that from a bank. Maybe you want a bank that provides robust perks to its customers while having a strong presence in your community.
If those are the things you care about, then continue reading this page to become familiar with local banks in Tennessee. You will find out the benefits of doing business with community banks and some specific choices in the state for you to consider.
Also, we take a look at online banks available to Tennessee residents to show you how they may be able to meet your banking needs.
Compare Tennessee and Online Checking Accounts
Tennessee checking accounts and online checking accounts cater to different needs and preferences. Tennessee-based accounts often provide access to local branches and personalized service, while online accounts focus on convenience, technology, and competitive features.
Understanding how these options differ in areas like accessibility, fees, and functionality can help you determine which type of account aligns best with your banking habits.
Compare Local and Online Checking Accounts in Tennessee
Best Checking Accounts in Tennessee
Just like big banks, local banks have some similarities and differences that are important to pay attention to. Let’s look at some community banks in Tennessee to find out what they offer and how they may differ.
Bank of Tennessee
The Bank of Tennessee customizes its checking accounts so customers get exactly what they need when they need it. Customers can open an account in a branch or online, and after answering a series of questions, the Bank of Tennessee proposes the solutions that will work best for their needs. Some of the features customers may take advantage of include direct deposit, online and mobile banking, a debit card, and monthly online statements.
First Horizon Bank
If you’re looking for basic checking, First Horizon Bank‘s FirstView Checking account has free digital and mobile banking and a free debit card. The account, which can be opened with a $50 initial deposit, has no fees if customers get withdrawals from the bank’s network of 600 ATMs. There is a $2 monthly fee for paper bank statements and a $3 charge for bank statements that include check images, which can be waived when customers choose electronic statements. The bank also offers interest-bearing checking accounts if you want a higher level of service.
Wilson Bank & Trust
The WBT Cash Back Checking account offered by Wilson Bank & Trust allows customers to earn 4 percent in cash back rewards on qualified debit card purchases up to $8 per month. Account holders can also save on certain fees. For example, the $5 monthly maintenance fee can be waived if you sign up to receive e-statements. Customers can also have ATM fees refunded. Wilson Bank & Trust offers high-interest savings accounts tailored to consumers’ needs, including an account designed for those over 50 years old.
Which Banks Have the Best Checking Accounts?
Find a variety of checking account promotions in the table below and get the best checking account deals.
Pros & Cons of Local Banks
Local banks can be a good choice for many consumers, but that doesn’t mean they don’t have some drawbacks. Let’s explore some positive and negative qualities of local banks for you to consider.
Pros
- Local banks are a staple of their communities, fostering strong ties with the area.
- Employees often have long tenures, allowing customers to build strong, lasting relationships with them.
- Thanks to their familiarity with the community, they provide specialized services tailored to a region’s specific needs.
Cons
- Accessibility may be an issue, as local banks might not always be conveniently located.
- Limited operating hours can make it difficult to visit branches on workdays, and weekends may bring long lines.
- Smaller ATM networks can make accessing your money less convenient, leading to potential withdrawal fees.
- Some local banks may reimburse a certain number of these fees, but this varies by institution.
Online Checking for Tennessee Residents
Are you interested in online banking? More and more consumers are turning to virtual financial institutions for their banking needs because of their convenience, especially if they generally don’t make in-person transactions.
The following are examples of online checking accounts for Tennessee residents to illustrate how they serve customers.
Discover® Cashback Checking
Discover checking stands out by combining no-fee banking with a straightforward rewards program. This account earns 1% cashback on up to $3,000 in monthly debit card purchases, making it appealing to those who frequently use debit cards. With no monthly fees, no minimum balance requirements, and access to over 60,000 ATMs nationwide, it provides a low-cost and convenient banking solution.
The account includes features like online and mobile banking, bill pay, and customer service available 24/7, ensuring accessibility and ease of use. Additionally, it doesn’t charge fees for standard checks, replacement debit cards, or insufficient funds, which adds to its affordability.
However, Discover does not operate physical branches, which could be a drawback for customers who prefer in-person banking. While its ATM network is extensive, those needing to deposit cash may find the process less convenient. Discover Cashback Checking is a strong choice for digital-savvy, rewards-focused users.
Laurel Road Checking: A Modern Option for Healthcare Professionals
Laurel Road Checking is tailored to healthcare professionals, offering unique perks and seamless digital banking. This account includes access to Laurel Road’s Loyalty Checking benefits, which can feature an interest rate boost for linked Laurel Road savings accounts or loans.
A standout feature is the fee-free structure, with no monthly maintenance fees and access to 40,000+ ATMs nationwide. The account supports mobile and online banking, enabling easy transfers, bill payments, and budgeting tools. Additionally, it offers a sleek mobile app for managing finances on the go.
Designed with healthcare workers in mind, Laurel Road integrates options like exclusive financial wellness resources and discounted rates on student loan refinancing. However, it lacks physical branches, which may deter customers who prefer in-person service.
Overall, Laurel Road Checking is a smart choice for healthcare professionals seeking a fee-free, tech-savvy account with benefits tailored to their unique financial needs.
Bask Interest Checking
Bask Interest Checking is an appealing account for those looking to earn competitive interest rates on their deposits. With a 2.75% APY on balances of $1,500 or more, this account stands out among checking options for its strong earning potential.
The account features no monthly maintenance fees or minimum balance requirements to open, making it accessible and affordable. Bask also provides access to a vast ATM network and offers digital banking tools for convenient account management, including mobile check deposit and online bill pay.
One limitation is the absence of physical branches, which may not suit those who prefer in-person banking. Additionally, the interest is only earned on balances of $1,500 or higher, which may not be ideal for individuals with lower balances.
Overall, Bask Interest Checking is an excellent option for digitally inclined customers who prioritize earning interest while managing their finances with ease.
Pros & Cons of Online Checking Accounts
Online banks certainly offer convenience, but they also have some downsides, just as local banks do.
Here are some of the main pros and cons of online checking accounts.
Pros
- Convenient access to customer service through virtual chat and phone services.
- Some online banks provide 24/7 customer support.
- Generally lower fees or no fees due to reduced overhead costs.
Cons
- Lack of physical branches means no in-person banking experience.
- No connection to the local community limits the personalized support available to residents and businesses.
- Local businesses and individuals miss out on community-focused services like locally targeted loans.
What to Look for When Choosing a Checking Account in Tennessee
Finding the right bank isn’t easy, and there are several factors that consumers consider as they shop around for a home for their money. The following are some common characteristics people look for when choosing a bank.
Monthly Fees
Monthly maintenance fees may or may not be charged depending on the bank and your account type. In some cases, banks offer accounts that don’t have monthly fees, and they would be the best choices for doing business with. On the other hand, some banks may waive monthly fees when customers maintain a certain balance.
Other Fees
Various other fees may be charged on checking accounts, but in some cases, they can be avoided.
For example, if you want to save on ATM fees, finding a bank with a large ATM network can help you conveniently make withdrawals without being charged fees.
Also, overdraft and bounced check fees can be avoided when you closely monitor your spending.
ATM and Branch Access
The best checking accounts in Tennessee give you the most access to your money. More ATMs and branches provide more access, so be sure to find a bank with many options for easily getting your money.
Interest Rates or Bonuses
Checking accounts generally don’t bear interest, so the best ones are the ones that do. However, keep in mind that brick-and-mortar banks’ checking interest rates will generally be lower than those offered by online banks. Also, the best banks will offer certain perks, such as signup bonuses or rewards for debit card purchases.
Mobile Apps
Mobile apps can further help you do your banking conveniently. Some banking apps provide basic access to your account information and may allow you to make basic transactions.
More robust mobile apps will give you access to advanced services like peer-to-peer transfers.
What to Know About Tennessee Checking Accounts
- Banks are not obligated to cash checks 180 days after the date they are issued.
- When more than one person is an authorized checking account holder, any of them are allowed to make withdrawals from the account.
- Minors are allowed to open checking accounts and are subject to the same liability rules as adults.
