Best Banks & Checking Accounts in Memphis, Tennessee - May 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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The best checking rates for Memphis, Tennessee include Orion Federal Credit UnionOrion Federal Credit Union3155 Millbranch Rd, Memphis, TN 38116 1917A+5.0 ★Texas Ratio: 2.33% Premium Checking Accounts at 5.00% APY, FsnbFsnb3950 Austin Peay Hwy, Memphis, TN 38128A5.0 ★Texas Ratio: 12.00% Advanced Checking at 0.05% APY, Firefighters First Federal Credit UnionFirefighters First Federal Credit Union5150 Stage Rd Ste 102, Memphis, TN 38134 3169A+5.0 ★Texas Ratio: 1.51% Ready Checking at 0.05% APY, Nucor Employees Credit UnionNucor Employees Credit Union3601 Paul R Lowry Rd, Memphis, TN 38109 3007A+5.0 ★Texas Ratio: 1.70% Share Draft (Checking) at 0.05% APY, and FedEx Employees Credit Association Federal Credit UnionFedEx Employees Credit Association Federal Credit Union3670 Hacks Cross Rd, Memphis, TN 38125A5.0 ★Texas Ratio: 5.77% Extras Checking at 0.03% APY. Checking account rates as of May 22, 2026 according to verified data from MonitorBankRates.
Memphis has 7 local institutions in our database, with checking rates as high as 5.00% APY from Orion Federal Credit Union at 3155 Millbranch Rd, Memphis, TN, 38116 1917. Use the tabs below to compare all available checking account types. Rates are continually updated — we recommend checking back frequently.
Checking account rates reflect recent market quotes and representative offers available to depositors in Memphis, Tennessee. Checking Account Rates Last Updated and Verified: May 22, 2026
Compare Checking Account Rates Today in Memphis, Tennessee & the Surrounding Area
Memphis, TN 38116 1917
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Memphis, TN 38128
Minimum Balance to Open Account: $5.00
Memphis, TN 38134 3169
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Memphis, TN 38109 3007
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Memphis, TN 38125
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Memphis, TN 38125
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Memphis, TN 38134 3169
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Memphis, TN 38134 3169
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Memphis, TN 38134
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Memphis, TN 38118 2449
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Qualifying balance up to $10,000.00
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Qualifications Required; Qualifying balance up to $10,000.00
based on qualifying criteria**
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Qualifications Required; Earns rewards.
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Qualifying balance up to $250,000.00
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Memphis, TN 38116 1917
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Qualifying balance up to $10,000.00
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Qualifications Required; Qualifying balance up to $10,000.00
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based on qualifying criteria**
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Qualifications Required; Earns rewards.
Qualifying balance up to $250,000.00
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Qualifying balance up to $10,000.00
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Memphis, TN 38125
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No monthly fees or minimum balance
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Memphis, TN 38134 3169
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Memphis, TN Checking Rate Trends
Compare local Memphis, TN checking rate quotes against the statewide average
Daily checking rate averages tracked across our database of 8,500+ banks and credit unions — updated every evening.
Tennessee high-yield checking rates rose 0.222 points over the past 7 days to 2.596% APY.
Tennessee free checking rates rose 0.084 points over the past 7 days to 0.780% APY.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Memphis, Tennessee checking rate tables are free for consumers to use, and we do not receive payment from any financial institution to be included or to be ranked in any particular order. Listings are based solely on the rates each institution publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Checking Rate Data: We aggregate checking account rates for Memphis, Tennessee directly from the official websites of banks and credit unions using a combination of our proprietary rate aggregation technology and a dedicated team of rate updaters. By sourcing this data from the institutions’ own digital properties and manually verifying the yields daily, we ensure that every checking rate displayed on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems and team constantly monitor the market to provide a complete picture of available yields in Memphis, Tennessee. We feature a comprehensive mix of financial institutions, allowing you to easily compare localized checking rates from neighborhood credit unions, competitive offers from mid-sized regional banks, and high-yield checking accounts available to account holders in TN.
Daily Updates & Time-Stamped Accuracy: To maintain the highest level of data integrity, our rate updaters verify and update checking rates daily. Because checking account yields can fluctuate based on market conditions, every single checking product listed on our platform features its own specific “last updated” date.
Frequently Asked Questions
Do checking accounts in Memphis, Tennessee earn interest?
Are banks in Memphis, Tennessee FDIC insured?
What fees should I watch out for?
What is a Rewards Checking account?
Best Checking Rates in Memphis, Tennessee
- Orion Federal Credit Union
Premium Checking Accounts — 5.00% APY - Fsnb
Advanced Checking — 0.05% APY - Firefighters First Federal Credit Union
Ready Checking — 0.05% APY - Nucor Employees Credit Union
Share Draft (Checking) — 0.05% APY - FedEx Employees Credit Association Federal Credit Union
Extras Checking — 0.03% APY
