The Best Checking Accounts in Colorado for 2024

Find the best checking accounts in Colorado: Compare top local or online banks for optimal interest rates, minimal fees, branch access, and exclusive benefits.
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Some people prefer to keep their money closer to home, and if you’re one of those people, the best checking accounts in Colorado are worth checking out. However, not all local banks are the same.

Choosing your checking account wisely is essential, and this page provides information to help you do it. Also, if you’re considering online banking options, we’ll show you what to expect when doing business with online banks.

Compare Colorado Checking Accounts with Online Checking Accounts

These days, there are more similarities than differences between online and brick-and-mortar banks.

However, the differences matter to some people. These differences can impact consumers’ preferences based on their banking needs, accessibility requirements, and preferences for in-person interaction versus digital convenience.

The Best Checking Accounts in Colorado for 2024

Some consumers like the idea of doing their checking locally, but it’s still good to shop around for the best bank. The following is a look at some of the checking accounts in Colorado for you to consider.

The Dolores State Bank

The Dolores State Bank offers three checking accounts: Benefits Plus, Basic Checking, and NOW Account. All these accounts have a lot of positive features, including free online and mobile banking, bill pay, e-statements, and mobile deposit capabilities. However, some fees may be concerning. All accounts carry monthly service charges ranging from $4 to $9. Also, customers may be charged returned check, overdraft, and dormant account fees.

Alpine Bank

Alpine Bank has several checking accounts that can help you meet various needs. For example, the Liberty Checking account is for consumers who just want a basic checking account and the ability to bank online. This account has no monthly fees or minimum balance requirements. Also, overdraft protection is available. However, there is a $3 paper statement fee if you are uncomfortable getting your statements online.

On the other hand, the Elite Checking account is for those with higher balances and who want an interest-bearing checking account. This account offers unlimited check writing, a fee waiver on cashier’s checks and money orders, and overdraft protection.

The Bank of Denver

The Bank of Denver‘s Kasasa Cash account is an interest-bearing checking account that’s good for people who maintain high balances. The APY rates, which are competitive, depend on how much money you have in your account. There are no monthly fees, and consumers can receive refunds for ATM withdrawals made out of network for up to $25 each month. There is an opening minimum deposit of $50.

Find the Best Checking Accounts in Colorado

A large number of banks and credit unions in Colorado offer checking accounts, and there’s strong competition among them to offer the best perks and the lowest fees. Use the list below to find the best checking account to fit your financial goals.

Pros & Cons of Colorado Local Banks

If you think starting a checking account at a local bank in Colorado is a great idea, you may be right. However, these companies do have some downsides. Take a look at the following pros and cons of doing business with a local bank.

Pros

  • Doing business with community-minded banks that understand the needs of local residents and businesses
  • The fees charged may be lower than those charged on accounts at national branch banks
  • Customer service is personalized
  • Businesses, individuals, and families can receive financial opportunities from banks that want to help the community thrive
  • When interest checking is available, the rate may be competitive

Cons

  • Branch hours may be short and not convenient
  • There may not be a lot of ATMs available in a local bank’s network
  • Local banks may not be aware of the latest trends in the industry
  • There may not be a wide variety of banking products available
  • Mobile banking may be limited

What to Look for When Choosing a Checking Account in Colorado

Everyone has different banking needs, so think about what features are most relevant to your financial situation. Whether you’re concerned about accessing ATMs, being charged exorbitant fees, or earning interest on your checking account, you should look closely at what banks offer.

Below is a look at what you should think about when choosing a checking account in Colorado.

Fees

With some accounts, monthly fees may not be something you can avoid. However, a sound checking account will have no or minimal fees, saving consumers money by not charging ATM, overdraft, monthly, or insufficient fund fees. The worst kind of checking accounts will charge fees for all of these things and more, so research the fees you may be charged and how to avoid them.

ATM and Branch Access

A good checking account will provide options. Whether you want to access a branch to do in-person banking or have enough in-network ATMs to avoid incurring fees, the best checking accounts in Colorado will be the key to that freedom. Look for accounts with the most options that suit your preferences.

Interest Rates or Bonuses

Do you use your debit card a lot? The best checking account for you provides bonuses for qualified purchases, allowing you to get something extra on your account. If you’re looking for ways to have your money work for you in a checking account, you want to find one that provides interest and look for the highest rates. Although these features are not necessarily common, more and more banks are offering them to remain competitive.

Mobile Banking 

Not all banking apps are created equally, but having access to one is often better than nothing. The best banks will have a mobile app with various features to make deposits and transfers between accounts, check your balance, and even access financial management tools. On the other hand, a bad option may be a bank that doesn’t offer a mobile app at all.

Online Checking for Colorado Residents

Are you curious about online banks and what you can get when you open a checking account with one? The following are some online banks that can give you an idea of what they offer.

Current

Current offers fully mobile banking with no physical branches, making it ideal for people who are comfortable with online banking. While it’s not a bank itself, its partner bank, Choice Financial Group, provides FDIC insurance up to $250,000 per account.

With no overdraft or maintenance fees and access to over 40,000 free ATMs nationwide, Current provides convenient banking. Users can also explore savings pods and cryptocurrency options. Customer service is primarily online, and while there’s a fee for cash deposits, mobile check deposits are free.

Overall, Current suits smartphone-savvy users seeking fee-free, digital banking with some innovative features. However, those requiring in-person services may need more.

Quontic Bank

Quontic Bank offers standout features in digital banking, including no monthly or overdraft fees for checking accounts and a vast ATM network of over 90,000 locations. With a focus on accessibility, Quontic provides online and mobile banking options for managing accounts.

Unique offerings like Bitcoin Rewards Checking and competitive rates set it apart. While lacking in-person branches, Quontic simplifies mortgage applications and caters to those seeking innovative banking solutions. It suits individuals comfortable with online banking, seeking diverse account options, and aiming to avoid traditional banking fees. However, it doesn’t provide personal loans or credit cards.

As an FDIC member and Certified Community Development Financial Institution, Quontic prioritizes inclusivity and digital accessibility, making it an attractive option for various banking needs.

Found

Found business checking is tailored for freelancers and sole proprietors, offering automated expense categorization, tax updates, and quarterly tax filing via its app. Ideal for people needing simple income and expense tracking, it suits rideshare drivers, gig workers, and small businesses.

With preset expense categories and receipt uploading, bookkeeping becomes hassle-free. Found integrates seamlessly with popular apps and offers unlimited transactions with no fees. However, it lacks check deposit options and has limited customer support hours.

Despite these drawbacks, its automatic overdraft protection and built-in tax planning make it a compelling choice for independent workers seeking comprehensive banking solutions.

Pros & Cons of Online Checking Accounts

Online banking is the answer for many consumers, but it may not suit you. Let’s take a look at the pros and cons of online banking to help you decide.

Pros

  • Robust mobile banking options
  • Convenient 24-hour customer service offered
  • Accounts are FDIC-insured, just as with traditional banks
  • Interest rates paid to customers may be higher than with brick-and-mortar banks
  • Rewards and sign-on bonuses are more common

Cons

  • If you like in-person banking, online banks may have no or limited branches
  • If you have an online checking account, it can be challenging to make cash deposits

How to Choose: Colorado Local Bank vs. Online Checking Account

If you prefer to do your banking in person or have more complicated needs than the average customer, an online bank may not be a good option.

However, if you don’t mind not having access to a local branch and your banking needs are relatively straightforward, this may be a good alternative to a brick-and-mortar bank.

What to Know About Colorado Checking Accounts

  • In Colorado, banks have the discretion to choose which checks they process first. Banks may cash the larger check amounts first and then smaller checks, so items such as mortgage and car payments are paid first. Every bank can establish its policy for the order of check processing, so consumers should ask their bank directly what its policy is.
  • Colorado banks are not limited by law in the amount they can charge customers for returned checks. However, banks are required to inform customers of how much those fees will be when they open a checking account.
  • Although banks are allowed to charge maintenance fees to those with a checking account at their discretion, they are not allowed to charge fees that are so exorbitant that they discourage consumers from opening an account.
About Author
Kenya McCullum
Kenya McCullum is a freelance writer with expertise in personal finance. She writes about personal finance, education, and other topics that are important to consumers.
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