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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 top picks for the best senior checking accounts. 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
Our top picks have bank accounts that are FDIC- or NCUA-insured. Although First Republic Bank was recently shut down, bear in mind your money is safe at a federally insured financial institution. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account.
Compare Best Checking Accounts for Seniors
TD Bank 60 Plus Checking Account
Annual Percentage Yield (APY)
0.01%
Minimum Deposit Amount
None
TD Bank 60 Plus Checking Account
Annual Percentage Yield (APY)
0.01%
Minimum Deposit Amount
None
TD Bank 60 Plus Checking Account
Details
Annual Percentage Yield (APY)
0.01%
Minimum Deposit Amount
None
Regions Bank LifeGreen 62+ Checking Account
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$50
Regions Bank LifeGreen 62+ Checking Account
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$50
Regions Bank, Member FDIC
Regions Bank LifeGreen 62+ Checking Account
Details
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$50
Best Checking Accounts for Seniors FAQs
A senior checking account is an account specifically for older customers, usually age 55 and up. Sometimes you have to be a certain age to open the account, while some banks just waive fees on their regular checking accounts for senior customers. Senior checking accounts usually come with more perks than others.
It depends on what you want out of a checking account. Senior checking accounts come with special perks, but you may decide you want something else from a checking account, like a high interest rate or no foreign transaction fees. However, when comparing different types of checking accounts make sure to review bank fees and minimum opening deposits.
Chase doesn’t have any bank accounts specifically for seniors, nor does it waive fees for seniors. But you still might like Chase if you’re looking for a bank with branches and ATMs around the US.
Yes, TD Bank is a good bank overall for seniors. The TD Bank 60 Plus Checking Account is specifically for senior citizens and comes with perks such as free paper checks, free paper statements, and discounts on certain loans.
No, Bank of America does not have a checking account specifically for seniors.
Axos Bank, TD Bank, and Regions Bank are the best banks for seniors. Each has checking accounts geared toward senior citizens, with perks like waived monthly fees and discounts on certain loans. Axos is a good option for online accounts, while TD Bank and Regions are strong in-person banks for seniors.
Senior Checking Account Reviews
Our top picks for checking accounts for seniors
Editor’s rating
Editor’s rating
$10 with options to waive
Editor’s rating
$11 or $8 with options to waive either
Axos Bank Golden Checking Account
Although this 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.
What to look out for: 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
There’s no minimum deposit to open a TD Bank 60 Plus Checking Account. 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.
What to look out for: Overdraft fee can go as high as $35 per transaction.
TD Bank Review
Regions Bank LifeGreen 62+ Checking Account
You can earn cash-back rewards with this account 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.
What to look out for: Regions offers several types of overdraft protection, but none are free. If you link to another Regions account for money to automatically transfer to cover overdrafts, you’ll pay up to $12 each time that money 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 settlement with the Consumer Financial Protection Bureau. The CFPB accused the bank of charging surprise overdraft fees for some ATM withdrawals and debit card transactions.
TD Bank has also been involved in a recent public controversy. The US Bureau of Consumer Financial Protection said TD Bank has been breaking the law by charging customers for its Debit Card Advance service without their permission.
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 at SaverLife:
“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, Personal Finance 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 the average bank account.”
What makes a checking account good or not good?
Roger Ma, certified financial planner with lifelaidout® 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 »