M1 Checking

Earn 3.00% APY1 on Checking

Get high-yield checking with powerful digital banking perks to help fuel your long-term financial strategy. With M1 Plus, you can earn 75x the national average for a checking account.2

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M1 Checking6 with M1 Plus

3.00% APY1

With 75x the national average APY, you’ll potentially earn more in two weeks than in a full year with a big bank.

1% cash back2

Get a little back on eligible purchases made with your M1 Spend Visa® debit card.2

Send checks

Schedule one-time or recurring paper checks from the M1 app.

Early direct deposit3

Get your paycheck up to two days early.

How does M1 compare?

M1: 0%
M1 Plus: 1%2
Other Big Banks (like Chase Total Checking): 0%7

M1: 0.00%
M1 Plus: 3.00%


Other Big Banks (like Chase Total Checking): 0%7

M1: $0
M1 Plus: $0
Other Big Banks (like Chase Total Checking): $1,500 OR deposit $500/month OR have average of $5,000 in a combination of Chase accounts (to avoid annual fee)7

M1: 1 reimbursement/month
M1 Plus: 4 reimbursement/month
Other Big Banks (like Chase Total Checking): Fees for non-Chase ATMs apply7

M1: 0.8% – 1%
M1 Plus: 0% (international fees reimbursed)
Other Big Banks (like Chase Total Checking): 3%8

M1: Yes
M1 Plus: Yes
Other Big Banks (like Chase Total Checking): Yes7

M1: $0
M1 Plus: $125
Other Big Banks (like Chase Total Checking): $0 – $1447

M1: No
M1 Plus: Yes
Other Big Banks (like Chase Total Checking): Yes7

M1: Yes
M1 Plus: Yes
Other Big Banks (like Chase Total Checking): No

There are no fees for minimum balances or ATM transaction fees. (The ATM itself will likely charge you a fee, but M1 Plus members will be reimbursed for fees charged by ATMs, up to four a month.) There are fees charged for using your debit card abroad. To see all checking fees, please visit M1’s Spend Fees Help Center Article.

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M1 Plus members get more

M1 Plus is an annual membership that gives you more options when you Invest, Borrow, and Spend. The first three months are free.5

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  • 3.00% APY checking1
  • 1% cash back2
  • Send checks
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“M1 basically allows me to be my own bank. That’s super powerful for when I want to flex how I use my money.
Ryan C.

Testimonials may not be representative of the experience of other customers. Not a guarantee of future performance or success.

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1 No minimum balance to open account or to obtain APY (annual percentage yield). APY valid from account opening. Fees may reduce earnings. Rates may vary. National average is 0.04% APY as of September, 2022. Obtained from the FDIC.

2 Debit card purchases are when the card is swiped, or its 16-digit number is entered online. Any fund transfers, including via card transactions such as P2P or third party processors, are not eligible for cash back.

3 Early Direct Deposit is dependent on your payroll provider.

4 Your free trial (a $31.25 value) begins the date you enroll in the M1 Plus subscription, and ends 90 days after (Free Trial). Upon expiry of the Free Trial, your account is automatically billed an annual subscription fee of $125.00 unless you cancel under your Membership details in the M1 Platform.

5 M1 Spend is a wholly-owned operating subsidiary of M1 Holdings Inc. M1 is not a bank. M1 Checking Accounts furnished by Lincoln Savings Bank, Member FDIC. M1 Visa® Debit Card is issued by Lincoln Savings Bank, Member FDIC.

6 Source: https://personal.chase.com/personal/checking

7 Source: https://www.chase.com/content/dam/chasecom/en/checking/documents/clear_simple_guide_total.pdf