Regardless if you have thousands of dollars in your investment accounts, or are simply working to build your $1,000 emergency fund, choosing the best online checking account that fits your needs is important for every person.
While some people seek interest-bearing checking accounts, PerkStreet Financial offers the best online rewards checking account on the market. With their Cash Back Rewards Debit Card, PerkStreet has given consumers the opportunity to earn at least 1% rewards on ALL of their non-pin debit card purchases.
Check out my comparison between the best online banks (savings, checking, and CDs).
This year alone, I’ve racked up over $500 in cash back rewards through my PerkStreet checking account and I’ve been pleasantly surprised with the overall service and performance this online bank offers.
If you’ve grown tired of not receiving any financial benefits from you local banks and credit unions, then it’s time you consider following the growing trend and opening up an account with an online bank. A PerkStreet Rewards Checking Account is also a great alternative for people that struggle with handling debt or controlling spending on credit cards. While credit cards may be bad, you can completely avoid them and instead earn similar rewards with the PerkStreet Debit Card and not have to go into debt while doing it!
Ultimately, determining whether or not PerkStreet makes sense for you will come down to analyzing the benefits that come with their accounts:
Signing up for a PerkStreet Financial checking account couldn’t be easier. The process literally takes about 3 minutes! However, instead of taking my word for it, let’s walk through the process:
1. Visit the PerkStreet Financial website by clicking HERE.
2. Click the “Sign Up” button.
3. Fill out your information – after clicking the “sign up” button, a pop-up window will open. As with opening any checking account, PerkStreet is going to ask for some of your personal information. The screen will look as follows:
4. Fund your account – after filling out your name, SSN, DOB, address, phone number, and selecting a few account options, PerkStreet will then direct you to fund your account.
You can do this in one of two ways: (1) using a debit or credit card or (2) transferring money online from one of your existing bank accounts. The minimum to open a PerkStreet Financial Checking Account is $25.
After your account has been opened and funded, PerkStreet will mail you a few documents confirming your new account and providing your online account login information. The packet will include your account number, 50 checks, and will also include a document in which you’re to sign and return to them.
After you’ve opened your PerkStreet Financial online checking account, then all you have to do is spend money to earn rewards (or cash back). Whether it’s gas, groceries, or Christmas presents, the more non-pin purchases you make, the more you’re going to earn.
Once your account has been opened and funded, you’ll be able to easily view your account information by logging online. Once online, the PerkStreet dashboard is easy to navigate and will give you access to a bunch of options:
1. Account Activity
2. Setting up Online Bill Pay
3. Accessing Your Perks (i.e. Rewards and Cash Back)
Once you’ve navigated to the Rewards/Perks dashboard, then you’ll be able to review the rewards you’ve accumulated in addition to determining how you want to redeem all of the money you’ve earned! PerkStreet gives you two options for redeeming your cash back rewards:
Option #1: Have cash added back to your PerkStreet Checking account.
Option #2: Redeem in the form of gift cards to places such as: Amazon, Target, Macy’s, iTunes, Best Buy, Sears, Gap, Starbucks, Dunkin Doughnuts, Applebee’s, and Olive Garden!
Through the rewards dashboard (image below), you’ll easily be able to dictate how to redeem your cash back rewards. As you can see, I currently have $46 in rewards that I’ve yet to redeem. Earlier in the year we decided to redeem about $400 of rewards in Best Buy gift cards! We used the money at that time to purchase a new camera, and the $46 you see below will be added to our credit cards rewards to buy a new washer and dryer later this month!
I’ve been completely satisfied with my PerkStreet Financial checking account and would recommend them to all of the WSL readers.
Due to their unique rewards debit card, the excellent customer service, wide network of ATMs, easy deposit options, and easy-to-use online dashboard, PerkStreet has the best rewards checking account for the average consumer and is easily one of the best online bank accounts available today.
The articles are written by personal finance enthusiasts (not certified professionals) based on their personal experience. What works for them may or may not work for you, and you should always consult a financial advisor before making important financial decisions.
In accordance with FTC guidelines, we disclose that we have a financial relationship with companies mentioned in this website. This may include receiving access to free products and services for product and service reviews and giveaways.
Any references to third party products, rates, or websites are subject to change without notice. We do our best to maintain current information, but due to the rapidly changing environment, some information may have changed since it was published. Please do the appropriate research before participating in any third party offers.