Best Bank Accounts for Retirement
These checking accounts offer attractive perks to retirees.

Banks like retirees for one very big reason: They tend to keep a fair amount of cash on deposit. That’s why banks often offer special accounts or perks for older customers. Here are our two favorite bank accounts for retirees.
Favorite bank account for retirees: U.S. Bank Premium Checking Account
What we like most:

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
- monthly checking fee waived if you’re 65+
- 50% off safe-deposit box
- free checks and paper statements
- no ATM fees charged by U.S. Bank
- no charge for money orders or cashier’s checks
Runner-up: Fidelity Cash Management Account
What we like most:
- no monthly fee
- no minimum balance requirement
- 0.07% interest rate
- free checks and paper statements
- reimbursement of all ATM fees
Be sure to check out our complete guide to all of the best banks of 2017.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Lisa has been the editor of Kiplinger Personal Finance since June 2023. Previously, she spent more than a decade reporting and writing for the magazine on a variety of topics, including credit, banking and retirement. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.
-
Stock Market Today: Cautious Investors Let Stocks Drift Lower
Markets weigh encouraging trends for earnings and tariffs against concerning signals from U.S. consumers.
-
A Smart Way to Combat Economic Rollercoasters
Savings With rates on CDs remaining high for now, a CD ladder allows you to maximize your returns with flexibility to your cash when you need it.
-
Should You Rent in Retirement?
Making Your Money Last Renting isn't right for all retirees, but it does offer flexibility and it frees up cash.
-
How Big Should My Emergency Fund Be?
Feature NFL linebacker and Kiplinger contributing editor Brandon Copeland discusses the importance of building an emergency fund.
-
Homeowners Insurance: How to Protect Your Home
Brandon Copeland NFL linebacker and Kiplinger contributing editor Brandon Copeland discusses the ins and outs of homeowners insurance.
-
The "Real" Cost of Buying a Car
Feature Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland illustrates how car prices are far more than meets the eye.
-
How to Plan a Budget-Friendly Family Vacation
Brandon Copeland Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland provides tips on how to go on vacation without breaking the bank.
-
The Great Resignation: How to Quit Your Job With Confidence
Brandon Copeland Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland provides tips on how to properly quit your job and upgrade your career.
-
How to Achieve Your 2022 New Year's Resolutions
Brandon Copeland You've already made your New Year's resolutions. Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland explains how you can stick with them and accomplish them.
-
Santa's End-of-the-Year Finance Tips
Feature Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland shares a few ways you can improve your finances before 2022 gets here.