Start with your own month.
Write down how you get paid, how often you withdraw cash and how you pay bills. An account that suits a regular direct deposit may work differently for someone with irregular income.
Ask for the fee schedule and the deposit agreement. Keep the provider’s name alongside the institution that actually holds the deposits. A financial app and an insured bank can be different companies.
Account cost worksheet
Use the fees from an account’s current schedule. This calculation stays in your browser.
The examples are illustrative inputs. The estimate includes only the fees you enter, assumes the same activity each month and excludes interest, overdrafts, wires and other charges. A waiver may have conditions that change month to month.
Compare accounts on the terms that matter.
Compare the terms that matter to you. The provider sets eligibility, prices and final terms.
Institution & deposit protection
Who holds the account, and what deposit or share insurance applies to your account type and ownership?
Fees & waiver requirements
Check monthly charges, minimum balances and the conditions for avoiding fees.
Access to your money
Compare ATM access, transfer options, branch availability and when deposits become available.
Overdraft & payment rules
Read overdraft options, related charges and how payments are handled when your balance is low.
Interest & account conditions
If interest is offered, check its current terms alongside fees and any balance or activity requirements.
Eligibility & support
Confirm membership or opening requirements and the support available when something goes wrong.
Learn more: FDIC: deposit insurance — opens in a new tab · NCUA: share insurance — opens in a new tab · CFPB: bank accounts — opens in a new tab
Before you switch, make a list.
List the deposits and automatic payments tied to your existing account. Ask the new provider about deposit availability and transfer timing. Confirm that the change is complete before closing an account you still need.
Verify deposit protection using the actual institution and account ownership. FDIC coverage and NCUA share insurance have rules and limits; the presence of an app or a bank’s logo alone does not answer every question.
Primary sources: CFPB bank-account guidance — opens in a new tab · FDIC deposit insurance — opens in a new tab · NCUA share insurance — opens in a new tab