Here's How Much Money the Average American Has in Their Checking Account

Motley Fool

Oct 19, 2025

Image source: Getty ImagesThe average U.S. household holds $16,891 in a checking account, according to Motley Fool Money's analysis of Federal Reserve data. The median balance sits around $2,800.But ...

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The median balance sits around $2,800.But ...</p>\n\n<a href=\"https://www.fool.com/money/banks/articles/heres-how-much-money-the-average-american-has-in-their-checking-account/\">Source Link</a>\n\n</div>\n","source":"fool_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here's How Much Money the Average American Has in Their Checking Account</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere's How Much Money the Average American Has in Their Checking Account\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-10-19 20:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/money/banks/articles/heres-how-much-money-the-average-american-has-in-their-checking-account/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Image source: Getty ImagesThe average U.S. household holds $16,891 in a checking account, according to Motley Fool Money's analysis of Federal Reserve data. The median balance sits around $2,800.But ...</p>\n\n<a href=\"https://www.fool.com/money/banks/articles/heres-how-much-money-the-average-american-has-in-their-checking-account/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://www.fool.com/money/banks/articles/heres-how-much-money-the-average-american-has-in-their-checking-account/","article_id":"2576107638","we_media_id":null,"thumbnails":["https://g.foolcdn.com/image/?url=https%3A%2F%2Fm.foolcdn.com%2Fmedia%2Faffiliates%2Fimages%2FGettyImages-636248010-1200x800-5b2df79_rXACDU.width-1200.jpg&op=resize&w=165&h=104"],"rights":{"source":"fool_stock","url":"https://www.fool.com/money/banks/articles/heres-how-much-money-the-average-american-has-in-their-checking-account/","rn_cache_url":null,"customStyle":"","selectors":".main-contain, #article-page","filters":"#sticky-wrapper, .navigation, .article-page-end, .foot, .author-tagline, .author-inline, .footer, .soc-share, .wysiwyg, .related-content","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2576107638","pubTimestamp":1760876100,"columns":[],"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"The average American checking balance might surprise you. But keeping too much cash in checking could be costing you hundreds in lost interest.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","TLTW":"iShares 20+ Year Treasury Bond Buywrite Strategy ETF","TMF":"3倍做多20年期以上国债ETF-Direxion","AFG":"美国金融集团有限公司","HYSA":"BONDBLOXX USD HIGH YIELD BOND SECTOR ROTATION ETF","BK4166":"消费信贷","LC":"LendingClub","BK4107":"财产与意外伤害保险","BK4117":"多元化保险","BK4585":"ETF&股票定投概念"},"translate_title":"这是普通美国人的支票账户里有多少钱","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TMF":0.6,"LC":0.75,"US6M.BOND":0.9,"US3Y.BOND":0.9,"US30Y.BOND":0.9,"US12M.BOND":0.9,"US10Y.BOND":0.9,"TLTW":0.6,"US2Y.BOND":0.9,"HYSA":1,"US5Y.BOND":0.9,"US7Y.BOND":0.9,"AFG":1.5},"content_text":"Image source: Getty ImagesThe average U.S. household holds $16,891 in a checking account, according to Motley Fool Money's analysis of Federal Reserve data. The median balance sits around $2,800.But just because big checking balances are common doesn't mean they're ideal. In many cases, keeping too much cash in a checking account is a financial drag -- because it's missing out on higher interest earned elsewhere.Let's dig into the numbers… and talk about where your cash should actually live.Checking account averages by ageHere's the full breakdown of average checking account balances by age group:                                          Age Range                                                                              Average Balance                                                                                    Under 35                                                                                          $7,355.53                                                                                          35 to 44                                                                                          $15,309.92                                                                                          45 to 54                                                                                          $20,155.22                                                                                          55 to 64                                                                                          $17,515.35                                                                                          65 to 74                                                                                          $24,408.76                                                                                          75 and older                                                                                          $19,517.14                                          Data source: Federal Reserve Board's 2022 Survey of Consumer Finances (SCF).The national average across all ages comes out to about $16,891.But remember, these are just averages. And high earners or outliers with $30K or $50K sitting idle can skew the numbers upward. The median checking balance is just $2,800, which is a more realistic snapshot of most Americans.Why more people should have high-yield savings accountsHere's my biggest issue with checking accounts: they pay almost nothing in interest. Like… pennies a year.And yet, I know tons of people (myself included, in the past) who keep $5,000, $10,000, or more sitting in checking accounts \"just in case.\"The problem is that money isn't working hard or earning interest.If you're holding cash that you don't plan to spend this month (stuff you'd consider more like \"savings\"), it really shouldn't be in checking at all. A high-yield savings account (HYSA) is a much better fit.Right now, many top high-yield savings accounts are paying around 4.00% APY. Compare that to a typical big-bank checking account earning just 0.01%, and the gap is massive.To put it in perspective, here's how much interest the average checking account balance of $16,891 could earn in one year, depending on where you keep it:                                          Account                                                                              APY                                                                              Interest                                                                                    Big bank checking                                                                                          0.01%                                                                                          $2                                                                                          Online HYSA                                                                                          4.00%                                                                                          $676                                          Data source: Author's calculations.That's a huge gap. And it doesn't take much effort to open a new account and move a chunk of your cash over.If you've got extra cash sitting in checking that you're not planning to spend right away, moving it to a high-yield savings account is an easy win. Your money will work way harder.One option worth checking out is LendingClub LevelUp Savings, which is offering 4.20% APY with $250+ in monthly deposits -- one of the highest APYs available right now. Read our full review here to see if it’s a good fit for your savings.Rates as        of Oct 19, 2025        2025 Award Winner                            LendingClub LevelUp Savings          Open Account for LendingClub LevelUp SavingsOn                      LendingClub's           Secure Website.Member FDIC.4.60/5Circle with letter I in it.            Our ratings are based on a 5 star scale.            5 stars equals Best.            4 stars equals Excellent.            3 stars equals Good.            2 stars equals Fair.            1 star equals Poor.        We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.                            = Best                            = Excellent                            = Good                            = Fair                            = Poor4.60/5Circle with letter I in it.            Our ratings are based on a 5 star scale.            5 stars equals Best.            4 stars equals Excellent.            3 stars equals Good.            2 stars equals Fair.            1 star equals Poor.        We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.                            = Best                            = Excellent                            = Good                            = Fair                            = PoorOpen Account for LendingClub LevelUp SavingsOn                      LendingClub's           Secure Website.                APY                              4.20% APY with $250+ in monthly deposits                                                            Rate info                Circle with letter I in it.      LevelUp Rate of 4.20% APY applied to full balance with $250+ in deposits in Evaluation Period. Otherwise, accounts earn Standard Rate of 3.20% APY. LevelUp Rate applies for first two statement cycles. Rates variable & subject to change at any time. See terms: https://www.lendingclub.com/legal/deposits/levelup-savings-t-and-cs                      Min. To Earn APY                              $0 to open, $250 cumulative monthly deposits for max APY                                Pros/Cons                Competitive APYNo feesEasy ATM accessUnlimited number of external transfers (up to daily transaction limits)Requires you to make monthly deposits to earn the best APYACH outbound transfers limited to $10,000 per day for some accountsNo branch access; online only              Bottom Line            The LendingClub LevelUp Savings account has a lot to offer. At the top of the list is its high APY, though you must deposit monthly to earn the best rate. Next is zero account fees, a strong and straightforward perk. Finally, you get a free ATM card, which you can use to withdraw from thousands of ATMs nationwide. Interested? You can open an account with $0.Open a LendingClub LevelUp Savings Account              Disclosure            https://www.lendingclub.com/legal/deposits/levelup-savings-t-and-cs        Read Full Review    Where your extra cash should liveI think of checking accounts like a landing zone -- they're perfect for day-to-day spending, covering your bills, and keeping life running smoothly.But once your balance creeps past what you actually need for the month, it's worth asking: could this money be working harder somewhere else?Here's a setup that's worked well for me:Checking account: Keep one to two months of expenses for everyday stuffHigh-yield savings: This is for your emergency fund and any short-term savings goals (like things you'll buy in the next one to three years)Investments: Any long-term money for future-you (retirement, wealth-building, etc.) should be invested and not touched. This is where you'll earn the highest return on your money.When everything's dumped in a checking account, you're earning next to nothing (and it's way easier to spend).When you break things into buckets, every dollar has a job to do. And that kind of clarity makes it way easier to stay on track and build real momentum.Average balances don't matter -- your habits doThe truth is, you don't want to be the person with the highest checking account balance. You want to be the person who's putting their money in the right places.That might mean moving extra cash into a high-yield savings account or even investing it for long-term growth. But it can also mean upgrading your checking account itself.Some banks actually offer interest-bearing checking accounts -- so you don't have to settle for 0.01% anymore.Check out our top-rated checking accounts to find one that pays you more for the money you're already using.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}