7 Revolutionary Bank Accounts That Will Save You Money

best bank accounts

We all love to save money. Whether it’s the savings we earn from turning in a coupon or a negotiation deal that tilts in our favor, saving money feels good and helps us reach our financial goals faster than ever. But did you know that your bank account could also help you save money toward your financial goals?

Here are 7 revolutionary bank accounts you must check out. Each one will help you save money in various ways – you decide which ones are right for you!

1. PerkStreet Checking

PerkStreet is a brand new financial institution with excellent rewards – er – perks. During the past year, we’ve earned over $300 using our PerkStreet debit card. That’s a lot of money – you know, like an auto insurance payment.

You can make:

  • 1% unlimited cash back every time you pay with your PerkStreet card for non-PIN transactions.
  • 2% cash back online at Amazon.com, Apple.com, iTunes, Walmart.com, Target.com, and BestBuy.com. You can also make 2% cash back in a couple of bonus categories . . . . *
  • 5% cash back in PowerPerks categories – rotating merchants voted on each month by PerkStreet customers. *

* Read a full review of PerkStreet for the fine print details.

You can redeem your perks for various gift cards – there are a lot of options.

2. ING Direct Electric Orange Checking

ING Direct has a great online checking account. One of the coolest features is that they will mail your paper checks for you – saving you postage and time.

They also have free online bill pay, free access to over 35,000 ATMs, and peer to peer payments which allow you to send money securely to family and friends.

Definitely worth checking out!

3. Ally Interest Checking

Ally Interest Checking is yet another revolutionary bank account due to their policy on ATM fees – they have none. How can that be you ask? Well, if a fee is charged at an ATM, they’ll refund it at the end of your monthly statement period. Sweet!

Like PerkStreet, they also have rewards. However, there are some differences. See a comparison of PerkStreet and Ally for more information.

4. PayPal Account

PayPal is a great way to buy and sell things online. Many people use a PayPal account to buy and sell on eBay, but PayPal can be used in other ways as well. You can set up donations on your website for a special cause, or sell consulting services with ease.

PayPal is definitely a unique way to manage your transactions. It’s an excellent way to make extra money for your side business.

5. SmartyPig Savings

SmartyPig allows you to save. Pig big time.

Let’s say you want to save money for a vacation, new flatscreen television, or an emergency fund. SmartyPig has created some great online visuals to help you achieve those goals.

Create as many savings goals as you want. You can link your bank accounts, set up automatic withdrawals, and save – BIG time.

Fun stuff.

6. Virtual Wallet by PNC

Virtual Wallet is another revolutionary online bank account that gives you three categories: spend, growth, and reserve accounts. There is a “money bar” that shows you how many payments you have scheduled and how much money you have that is free to spend – very helpful!

There are also cash back rewards and a “punch the pig” option that allows you to save spontaneously. Check it out!

7. Your Local Credit Union

Go to Google and search for local credit unions in your area. More than likely, you’ll find that your local credit unions have lower fees and better customer service than the big banks.

Some of you like the ability to walk into a building and see smiling faces waiting to help you manage your money. If you’re that type of person, a local credit union is probably right for you.

Where do you bank at? What has been your experience? Which of the above options is right for you, and why? Leave a comment below and let’s get the conversation started!

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  1. Ron

    We use some of your suggestions but have found that “high interest” checking accounts work best for us. High interest is sort of a interesting phrase today it really means 3.5 -4.0% at best but you do what you have to do. We have been at one of the “big evil banks” (US Bank) for about 8-9 years and have encountered no fees, no hassle and no problems. We have on-line bill pay and they have treated us very well when we needed something. I actually was looking for an excuse to move to a credit union a while back but until I have an issue with my current supplier of banking services I will stay where I am. We watch our statements for the fees etc. but again, nothing to date.

    Thanks for the article and all the good information on CD, I read them cover to cover.

  2. Katie

    We do the bulk of our banking at a credit union. The last paycheck I received from the first school I taught at bounced. My credit union called me, told me what was going on, and said they’d leave the money in my account for two weeks to give me some time to sort things out with the school. That was a huge blessing, since I was a first year teacher – I had no extra money to otherwise cover the checks I’d already written for my rent, phone, etc.

  3. Jake Martin

    I bank at USAA which is the best bank and insurance by far! (Military members only)

  4. Mac Hildebrand

    I never thought of PayPal as a way to save money. It really makes sense to look into the rewards and common benefits of every financial service out there. I was also just introduced to SmartyPig through this article and love the idea of organizing goals online through an account. I need to take advantage of these services more. Thanks

  5. Sean Hopcraft

    I’m a very visual guy so that smarty pig program is pretty cool. I have a couple mission trips coming up in the next year and this is going to make it a lot easier to track and share with friends and family.

  6. Money Infant

    And don’t forget the new contender, ImpulseSave.

  7. A Cover

    its nice and interest things to save money from excess costs. i hope by this way people can save and do contribute in future with right way. and thanks for good suggestion.

  8. Diane'n'David

    Thanks for sharing! This is a really neat list of places to check out for better savings! We’ve been thinking about looking into Perkstreet cuz of all the great… perks! 🙂
    I know it’s not a savings account, but we discovered Lending Club when we were looking for CDs. The best CD we could find last year was only averaging about 2%; with Lending Club, we earn an average of 13% APY. There’s more risk involved since it’s peer to peer lending, so far so good! We just wrote a review of our first year with them if you’re interested in reading out take on it…

  9. Carl Lassegue

    I have never heard of PerkStreet but they seem to be a great institution. I’m going to check them out. Thanks for sharing!