Best Checking Accounts for Seniors of March 2024 (2024)

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A senior checking account is a special age-specific bank account, usually for customers age 55 and up.

After reviewing bank accounts from several national banks, here are our best checking accounts for seniors. These accounts have also stayed as our top picks for the last few months because they continue to stand out for their features.

Best Senior Checking Accounts of March

• Axos Bank Golden Checking Account
• TD Bank 60 Plus Checking Account
• Regions Bank LifeGreen 62+ Checking Account

When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account. If a bank fails, your insured deposits will be protected by these government agencies like the FDIC and NCUA.

Compare Best Checking Accounts for Seniors

Best Checking Accounts for Seniors FAQs

Senior Checking Account Reviews

Axos Bank Golden Checking Account

The Axos Bank Golden Checking Account is specifically for people age 55 and older, you don't have to be a certain age to waive the monthly service fee — no customer pays a monthly fee. Axos has around 91,000 free ATMs around the US, and if you use an out-of-network machine, Axos reimburses you up to $8 per month in fees the provider may charge.

Axos is the only bank on this list without in-person branches. You'll have to be comfortable with an online-only banking experience.

Axos Bank Review

TD Bank 60 Plus Checking Account

The TD Bank 60 Plus Checking Account stands out because it doesn't require a minimum deposit. You'll get free paper checks, paper statements, and money orders with this account, and a 0.25% discount on home equity loans and personal loans with TD Bank.

Overdraft fees can go as high as $35 per transaction.

TD Bank Review

Regions Bank LifeGreen 62+ Checking Account

The Regions Bank LifeGreen 62+ Checking Account lets you earn cash-back rewards when you activate individual rewards online or in the Regions app. You'll also receive discounts on loans if you set up automatic payments through your Regions Bank LifeGreen 62+ Checking Account.

Regions has a $36 overdraft fee. However, if you link your checking account to another bank account, there isn't a fee for overdraft protection transfers.

Regions Bank Review

Bank Trustworthiness and BBB Ratings

We have included each bank's score from the Better Business Bureau. The BBB grades businesses based on responses to customer complaints, honesty in advertising, and transparency about business practices.

Regions Bank has an A- rating from the BBB due to government action against the bank. In 2022, Regions Bank was required to $191 million in a settlementwith the Consumer Financial Protection Bureau. The CFPB accused the bank of charging surprise overdraft fees for some ATM withdrawals and debit card transactions.

Why You Should Trust Us: Experts' Advice on Choosing a Bank Account

We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best bank account for your needs.

Here's what they had to say. (Some text may be lightly edited for clarity.)

How can someone determine whether a bank is the right fit for them?

Tania Brown, certified financial planner atSaverLife:

"Obviously, you want to make sure it's FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you're okay online. Do you write checks? Do you not write checks? So it's thinking through how your experience with it is going to be before you make that decision."

Sophia Acevedo, certified educator in personal finance, banking reporter, Business Insider:

"I would create a list of what I prioritize most in a bank account. For example, some banks have accounts that charge monthly service fees. I would look to see what the requirements are for waiving the monthly service fee and whether I think I could feasibly meet those requirements each month. If I'm searching for an interest-earning bank account I'll pay attention to interest rates. I would make sure the account pays a higher interest rate than theaverage bank account."

What makes a checking account good or not good?

Roger Ma, certified financial planner withlifelaidout®and author of"Work Your Money, Not Your Life":

"I would look at the ATM branch locations and then minimum balance amounts to not incur a monthly fee … I think there's other stuff that could make life easier, whether it's a free checks, online bill pay, are they in the Zelle network?"

Mykail James, MBA, certified financial education instructor,BoujieBudgets.com:

"The No. 1 thing about a checking account is you should know what provider the debit card is coming from. And a lot of people don't think about that, because there are places that don't accept MasterCard or don't accept an Amex."

Sophia Acevedo, CEPF:

"I would for a checking account that either doesn't have any monthly services fees or offers multiple ways to waive the fee. I would also look at customer support availability and mobile app ratings."

Methodology: How Did We Choose the Top Senior Checking Accounts?

We only chose senior accounts at national banks, but there may be more options at regional or local banks in your area. There are very few accounts specifically for seniors at national banks, and we've listed them in this roundup.

See our full ratings methodology for checking, business checking, savings, and money market accounts »