The 4 Best Checking Accounts for High-Income Households

Every household has different banking needs, depending on their income, goals, lifestyle, and more. If you're in a high-income household, you will likely prioritize higher transaction limits, cash management solutions, and wealth planning assistance when looking for a new account.

High-income households are defined by Pew Research as having an income of $250,000 a year or more. If you've also got considerable assets, you may find that private bank accounts -- essentially exclusive personalized banking -- will be better tailored to your needs. If you're able to deposit significant money, most major banks offer some form of private banking.

1. HSBC Premier Checking

The HSBC Premier Checking account gives you and your family preferential savings rates and global support. Most high-income households will find it relatively easy to get the monthly fee of $50 waived by maintaining a high balance or making a certain number of direct deposits each month.

It's particularly attractive for households who travel often. Not only can you avoid foreign transaction fees, there's also support for opening accounts in other countries. Plus, Premier clients can access wealth products, insights, and advice from the HSBC team.

Our Picks for the Best High-Yield Savings Accounts of 2024

Product	APY	Min. to Earn
American Express® High Yield Savings Member FDIC. APY 3.80% Rate info 3.80% annual percentage yield as of January 10, 2025. Terms apply. Min. to earn $0 Open Account for American Express® High Yield Savings On American Express's Secure Website. Member FDIC.	3.80% Rate info 3.80% annual percentage yield as of January 10, 2025. Terms apply.	$0	Open Account for American Express® High Yield Savings On American Express's Secure Website.
Capital One 360 Performance Savings Member FDIC. APY 3.80% Rate info See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening. Min. to earn $0 Open Account for Capital One 360 Performance Savings On Capital One's Secure Website. Member FDIC.	3.80% Rate info See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.	$0	Open Account for Capital One 360 Performance Savings On Capital One's Secure Website.
Western Alliance Bank High-Yield Savings Premier Member FDIC. APY 4.40% Rate info The annual percentage yield (APY) is accurate as of Jan. 2, 2025, and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY. Min. to earn $500 to open, $0.01 for max APY Open Account for Western Alliance Bank High-Yield Savings Premier On Western Alliance Bank's Secure Website. Member FDIC.	4.40% Rate info The annual percentage yield (APY) is accurate as of Jan. 2, 2025, and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.	$500 to open, $0.01 for max APY	Open Account for Western Alliance Bank High-Yield Savings Premier On Western Alliance Bank's Secure Website.

Finally, if you maintain an average balance of $1 million in qualifying accounts over two consecutive months, you'll also qualify for Premier Elite status. That means you'll always be able to skip the line when you call for help, and you can get the annual fee waivers on the HSBC Elite Credit card.

2. Chase Private Client Checking℠

A Chase Private Client Checking℠ account is brimming with perks that will make it easier to manage considerable amounts of money. That means you can easily deposit up to $100,000 a day, make ATM withdrawals of up to $3,000, and spend up to $7,500 with your Chase Private Client debit card.

You won't pay ATM fees, no matter what country you're in. Not only that, there are no fees for wire transfers or speedy credit or debit card replacement. In addition to 24/7 support, you'll have access to a private client banker, a home lending advisor, and a business relationship manager. Plus, you'll be able to open J.P. Morgan Wealth Planning and Chase's business accounts.

You get all this for a waivable $35 monthly fee. To skip the fee, you'll need to maintain an average balance of $150,000 in this account and other qualifying accounts, including investments. Another route is to link a Chase Platinum Business Checking℠ account.

3. Citigold

Citigold is more than a checking account. It includes financial planning, investment services, travel perks, and banking benefits. There's no monthly fee. However, the service is only open to clients who maintain $200,000 or more in eligible accounts -- which includes deposit, retirement, and investment accounts.

In terms of banking, you'll get a dedicated wealth team, higher savings rates, and ATM fee reimbursement worldwide. You'll be able to withdraw as much as $2,000 a day at the ATM and spend up to $10,000 on your debit card. Citigold clients are entitled to $200 cash back a year on various subscriptions, including Spotify and Costco.

Citi works with its high-income customers to plan and prioritize their financial goals. It will also help you develop an investment strategy, so some of your income will go toward building long-term wealth.

4. TD Bank Private Banking

TD Bank pitches its private banking service at people who have $750,000 or more to invest. Its team will help with wealth planning, investment management, and estate planning. Plus, you'll have a dedicated relationship manager to take care of day-to-day money management.

You won't pay foreign transaction fees with the Private Client Visa® Debit Card, which has higher transaction limits than traditional accounts. (Clients can make ATM withdrawals of up to $1,500 and spend up to $20,000 a day.)

You can also access lending facilities of up to $250,000 to help you fund real estate, business, or other investment opportunities. If you're a business owner, you can access a range of business banking products and services.

Transform your high income into a high net worth

One thing to bear in mind when considering where to park your cash is that many checking accounts do not pay the same interest rates as high-yield savings accounts. That may not be an issue if your focus is managing your cash and your investments, but it is worth considering when finding the best overall bank for you. That said, the benefits you'll get with an account designed for high earners will often outweigh any savings disadvantages.

Some high-income households also find they have corresponding high living costs. That can mean they don't put aside as much as they ought to for retirement. Whether you feel that's true for you or not, extra investment assistance may be useful in terms of wealth building. Plus, if you're worried about staying within FDIC insurance limits, personal banking advice could help.