Best Checking Accounts in Mississippi for 2024

Compare Mississippi's best checking accounts for 2024. Learn what to consider from local and online banks, including fees, interest rates, and customer service.
Written by Shannon Lee
Financial Expert
Managing Editor
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Comparing checking accounts might seem like a hassle, but it doesn’t have to be.

Start by considering what you want in an account and look for the Mississippi banks, both online and local, that provide what you need. This guide will help you sort it out.

Which Is Better: A Local Mississippi Bank or Banking Online?

The first step in comparing checking accounts is deciding if you prefer a local Mississippi bank or an online option.

Ask yourself these questions:

  • Does it feel more secure to bank in person?
  • Am I savvy enough to handle my finances with mobile apps or websites
  • Do I need an ATM card? How often will I use it?
  • Am I willing to pay bank fees? And if so, for what?
  • Will I need to deposit cash into my account?
  • Will I need customer service often?
  • Do I want to earn competitive interest rates?

Key Differences Between Local & Online Banks

Best Checking Accounts in Mississippi

Many large banks call Mississippi home. With multiple branches and offerings for local customers, these banks can provide excellent service. Here are some of the most popular banks in the Magnolia State.

Cleveland State Bank

In addition to a solid local presence, Cleveland State Bank offers robust online banking, providing customers with the best of both worlds.

All checking accounts include a free debit card, statement binder, bill pay, and eBanking. The Classic and Preferred accounts require a $100 minimum to open and have monthly fees. The fees for the Classic account can be waived with a daily balance of at least $500.

Interest-bearing checking accounts require a savings account and can be opened with a $1,000 minimum opening deposit and daily balance to avoid service charges.

The bank also participates in the BaZing network of discounts at over 300,000 retailers, which can add up to serious savings for checking account customers.

Delta Bank

Delta Bank, based in Natchez, offers checking accounts that start with a $100 minimum deposit.

Advantage Checking provides a wide range of benefits, including roadside assistance and cell phone protection, to name a few.

Interest begins at a $1,000 minimum balance, and there is a monthly service fee of $8, though that covers accidental death and disability insurance.

This is similar to the Interest Checking, which has the same terms but doesn’t include all the bells and whistles the Advantage Checking has.

The Plus Checking account has no minimum requirements and a $3 service fee that is waived for seniors and students.

Farmers & Merchants Bank

Also known as FMBank, this Mississippi staple offers many checking accounts for your banking needs.

The most common is the FMBenefits Checking account, which is offered to individuals or families. With a minimum opening deposit of $200, there are many ways to waive the monthly fee. The easiest of these options is the direct deposit.

Expect free bank transfers, a travel and discount program, competitive interest, cash promotions, and more.

Other options include accounts specifically for students and senior citizens and an entirely online student account, which allows those who travel far away for school to maintain their account at their hometown bank without hassle.

Where to Find the Lowest Checking Account Fees

You could be paying too much in checking account fees each month.

Check out some of our top checking account picks for those who want to save on checking account fees and enjoy the convenience of online banking.

Pros and Cons of Local Banks

When you choose to bank in person, you are signing up for a few particular perks, but you will also find some downsides. Here are some points to consider.


  • Local banks are run and staffed by community members. They may have a familiar feel and a strong community presence.
  • That local establishment means you might easily get a loan or other service.
  • Local banks allow you to bank in person, which can be advantageous for those who need extra help with their accounts.
  • Local banks offer complete suites of services, from auto loans to mortgages to money market accounts.
  • The local banks tend to have a strong ATM network and might tap into more extensive networks for fee-free service.


  • Local banks tend to have higher overhead than online banks, which is one reason their interest rates might be lower.
  • Local banks often focus strongly on in-person banking and might not offer robust mobile banking or a comprehensive website.
  • Branches are open only during regular banking hours, which can be challenging for those who work during those hours.

Online Checking for Mississippi Residents

If you’re looking for an online checking account in Mississippi, these reviews might help you make the wisest choice:

Discover® Cashback Debit

The Discover Cashback Debit account offers several notable features.

It provides 1% cash back on up to $3,000 in monthly debit card purchases. The account has no monthly fees, no minimum balance requirements, and no fees for insufficient funds, stop payment, replacement debit card, expedited delivery for replacement debit card, or check reorder.

Users can access over 60,000 fee-free ATMs across the U.S. and enjoy features like early direct deposit, digital wallet compatibility, and Zelle for money transfers.

The account also includes robust fraud protection and FDIC insurance for deposits.

Overall, it’s a straightforward checking account with practical benefits and minimal costs.

One Financial Banking

The One Finance Mobile Banking account offers various features that are suitable for users who are comfortable with online banking.

This account has no monthly or overdraft fees and provides cashback rewards on eligible debit card purchases.

Users can earn a competitive interest rate on savings, though the highest APY requires a $5,000 minimum balance.

Cash can be deposited at Walmart locations, and withdrawals are free at Allpoint ATMs. The app provides user-friendly navigation, customer service, and security measures.

However, it lacks branch access and paper checks, which may be a drawback for some users.

TD Bank Complete Checking

The TD Complete Checking account offers flexibility with three ways to waive the $15 monthly maintenance fee:

  • Direct deposits of $500 or more
  • Maintaining a $500 minimum daily balance
  • A $5,000 combined balance across linked accounts

The account features no minimum opening deposit and waives ATM fees for users aged 17-23.

Additionally, it includes perks such as a free linked personal savings account, early direct deposit access, online banking, and bill pay options.

However, it does not earn interest and has a $3 fee for paper statements if the primary account holder is under 60.

Pros and Cons of Online Checking Accounts

As there are pros and cons to local banks, expect the same from online checking accounts.

Here are some things to think about.


  • Online banks often provide various perks to draw in and keep customers.
  • Their interest rates might be better than local banks, thanks to lower overhead costs.
  • Strong websites and mobile apps are essential for online banks, so expect them to be very easy to use.
  • For most online banks, customer service is available 24/7 via phone, chat, email, or text.
  • Online banks often focus on a few things, such as savings or checking accounts, and strongly support those products.


  • If you want an auto loan, mortgage, or the like, you might not find the best rates with online banks.
  • The hands-off nature of online banks can make it difficult to talk to a real person if you need help.
  • There are usually no branches, so banking in person is impossible. If branches are available, they are generally only in large metro areas.

What to Look for When Choosing a Checking Account in Mississippi

Opting for a checking account in Mississippi means paying close attention to fees, access, and more. Consider these points.

Monthly Fees

Most banks will charge monthly fees, but they usually offer easy ways to waive them, such as adding a direct deposit to your account or keeping a certain minimum balance.

However, some interest-bearing accounts don’t offer the opportunity to waive the fee, so assess whether the interest you earn will be enough to offset that fee.

Other Fees

Very few banks are genuinely free; most will have some fees you must contend with for unusual items, such as a stop check fee or a fee for a wire transfer.

Look at the fine print to determine which fees might apply to you, and if you are comfortable with the amount, the bank will charge you.

ATM and Branch Access

You can often find branded ATMs, meaning your debit card use will be free.

However, some banks also tap into a more comprehensive network of ATMs to provide free use, especially online banks.

If you deposit cash often, an ATM might not work well for you, and branch access might be your best bet.

Weigh your money habits carefully before choosing between a local or online bank.

Interest Rates and Bonuses

While many local banks will offer incentives for customers to open a new checking account, they might offer lower interest rates than online banks.

On the other hand, many online banks don’t offer incentives to join, especially if they offer higher interest than the market rate. Decide which matters most to you.

Another point to ponder: Some banks require you to deposit large sums of money to get the best interest rates.

Mobile Banking Apps

Mobile apps are the lifeblood of online banks, and many local banks are getting into the game, too.

If you prefer banking virtually, look for a mobile app that is intuitive, easy to use, and offers all the bells and whistles you want in a banking service.

Unique Features of Mississippi Bank Accounts

Here are some other essential things to know about checking and other bank accounts in Mississippi.

  • In Mississippi, wage garnishment is limited to 25% of disposable income in a bank account and is only possible upon a court order.

  • A person must be at least 18 in Mississippi to hold a bank account. Those younger can have a bank account, but only with permission and administration by a parent or guardian.

  • Only banks already insured by the FDIC can merge with or partner with chartered banks in Mississippi to protect consumers in the Magnolia State.
About Author
Shannon Lee
Shannon Lee, a versatile contributor to MoneyRates, is a freelance writer with a passion that spans over two decades. Her extensive writing portfolio encompasses a myriad of topics, ranging from personal finance and home improvement to education, relationships, and medical and health subjects. In addition to her prolific freelance career, Shannon is also a novelist. Shannon’s dedication to providing insightful and informative content makes her a valued voice in the world of personal finance.
Our reviews are unbiased and thorough, focusing on consumer needs. For details, see our Editorial Policy & Methodology.