Best Joint Checking Accounts

Formerly GMAC, Ally was rebranded in 2010 to focus on online banking. Ally’s joint checking account is easy to set up and can be managed directly from your phone. Ally offers a high APY compared to many other options and has high customer reviews. Plus, Ally has a simple application and account management process. 

Ally can act as a full-service bank for many customers, offering high-yield savings accounts, money market accounts, and personal loan options for your car, house, or other miscellaneous needs. Ally has excellent customer service. You can easily sign up online for a joint checking account without any monthly fees or minimum deposit amounts.

Overall, Ally offers a joint checking account option that’s competitive with both traditional banks and other online-only options. Ally can be an excellent choice for those looking for a convenient, low-fee joint checking account.

Axos is an online-only bank with a full array of financial options, from checking accounts to mortgage loans. With five personal checking options, including a joint checking account for parents and their minor child or between business partners, Axos offers something for everyone. Axos also has more than 20 years of online banking experience, zero-fee checking, and above-average customer ratings.

Axos’ checking accounts come with no fees, unlimited ATM reimbursements, and a 3.30% APY. However, account holders will need to meet certain requirements to earn that APY, including maintaining minimum balances across multiple Axos accounts and meeting certain debit card spending requirements.

Axos also offers a high-yield savings account and investment portfolios, as well as personal loans to pay off credit card debt, refinance a house, or purchase a car. You must be 18 years of age to apply for all of their accounts except the teen checking account.

Axos is an excellent online account option, making it easy to manage your account from anywhere. To sign up, you need to complete an online application, and no minimum deposit is required.

Capital One's MONEY Teen Checking account provides parents with great features like no fees and text alerts sent to both you and your teen so you can see your child's spending in real-time. The account comes with a 0.10% APY on all balances, allowing teens to slowly grow their account over time and get a better understanding of the importance of saving over spending.

A Capital One joint checking account is easy to set up via an online application, and you can fund the account with online or mobile check deposits. The bank has also designed an intuitive, easy-to-navigate app that gives new account holders money management tools for tracking spending patterns and setting savings goals. Parents can even reward their teens with a small deposit when they achieve their goals. 

Capital One’s account requires at least one joint account holder to be at least 18 years old, and that person must be the parent or guardian of the minor account holder. All account holders must be at least eight years old.

Capital One has a plethora of other financial tools from credit cards to savings accounts and auto loans. They are a great source to help your teen go from their first checking account to their first car loan.

Because Alliant is a credit union—a type of non-profit financial institution—it differs from normal banks. Credit unions don’t necessarily offer better fees or interest rates but during bad economic times your rates and services will likely remain the same, even as traditional banks might lower interest rates or take away other benefits.

Alliant also has a wealth of online offerings including an easy-to-use mobile app, no monthly fees, $20 in monthly ATM rebates, and a strong 0.25% APY. To earn interest, account holders will need to agree to receive e-statements and make at least one electronic deposit per month.

Alliant has received numerous accolades, mostly for its online banking experience. Many credit unions have been slower to adapt to online banking, not developing a solid app or online banking experience for their members. Alliant has gone above and beyond to make sure its app is not only available but is the best in its class. Alliant competes with many traditional banks by letting you manage your account entirely from your mobile device. 

You can apply for an Alliant joint checking account online, but you must first become a member of the credit union. To be eligible, you must be a relative of an existing Alliant member, become a member of a select partner organization, live or work in a qualifying community, or be a member of a partner charity. Once you qualify, you’ll just need to provide a government ID to prove you’re at least 18 years of age, along with either your Social Security number or tax ID number. The entire process can be completed in less than 10 minutes.