Are you earning 0.13% APY on the money in your checking account? If so, it’s time to switch banks.
A myriad of banks now offer checking account yields above 1%, and many have no fees. What’s one such bank? NBKC Bank which is a digital-forward bank based out of Kansas City.
If you’re the type of person who hasn’t opened a new checking account since ninth grade, keep reading. You may decide that a high-yield account from NBKC Bank fits your needs.
See why NBKC Bank makes our list of the best free checking accounts.
- One of the few banks that offer high yield checking accounts
- One of the best free checking accounts available
- Solid online banking options
NBKC Bank: High-Yield Checking Account
NBKC Bank offers high-yield checking accounts (with current yields of 1.01% APY). These so-called no-gotcha accounts are almost entirely fee-free accounts. You can withdraw money from over 32,000 MoneyPass ATMs. Plus, NBKC Bank will refund up to $12 per month in ATM fees incurred by other banks.
The only two fees are a $5 fee to send a domestic wire and a $45 fee to send or receive an international wire.
You won’t pay overdraft fees, NSF fees, monthly fees, ATM fees, etc.
If you’re interested in an even higher yield, you can also open NBKC Bank’s money market account which has a 1.75% APY yield. This account has instant transfers with your personal checking account.
Do You Have to Live in Kansas or Missouri to Open an Account?
To open a high-yield checking account at NBKC Bank, you don’t have to live in Kansas or Missouri (where the bank has branches). You simply need to deposit $5 into the account.
To open the account, you have to be at least 18 years old, be a U.S. citizen or resident alien, have a state ID or driver’s license, and a Social Security number. If you check all those boxes, you qualify to open the checking account.
Does No Gotcha Really Mean No Fees?
Overall, NBKC Bank’s fee-free account really means fee-free. It has no minimum balances, and you don’t have to pay any sort of NSF or overdraft fees. The only two fees are the $5 domestic transfer fee and the $45 international wire transfer fee.
Is There Any Concerning Fine Print?
The only bit of concerning fine print with the no-gotcha account is the ATM daily withdrawal limit. The limit is set at $1,000 which is quite a bit higher than most banks. However, if you want to buy furniture or a used car, you’ll have to think ahead to have the necessary cash on hand.
Final Take on the NBKC Bank Checking Account
Overall, NBKC Bank offers a solid high-yield checking account.
If you don’t currently have a checking account, or your bank gouges you with monthly fees, it’s time to switch to a new bank. NBKC Bank could be a good option, but it’s not your only choice. SoFi has an even higher yield checking account that’s well worth considering too.
NBKC Bank Review
- Interest Rates
- Fees and Charges
- Customer Service
- Ease of Use
- Tools and Resources
- Products and Services
nbkc is a midwestern bank that has a great free personal checking account.
- Interest-bearing checking account
- Great online features
- Unless you’re in the Kansas City area, it’s online banking only
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.