BankBonus Review Ratings Methodology

Researching and comparing bank account features, rates, fees, and bonuses is time-consuming.

With thousands of banks and credit unions throughout the country, choosing the right financial institution can be a major undertaking.

To streamline the process of choosing a bank and help consumers maximize their earnings with bonuses, the BankBonus team has evaluated more than 100 individual banks, accounts, and financial products.

We thoroughly analyze traditional banks, online banks, neobanks, and credit unions at the local, regional, and national levels to provide trustworthy, reliable recommendations.

Our editorial team regularly updates our content to include the most up-to-date information on the banks we review, adjusting bank ratings based on the latest research.

The BankBonus Factor

At its core, our mission is to help readers find and maximize bank bonuses. In pursuit of that goal, we’ve built bonuses into every one of our review methodologies.

In our assessment of each bank and account we review, we pay close attention to its ongoing and previous bank bonus offers.

Banks that routinely offer bonuses to reward account holders earn higher marks, as we believe these promotions give them a truly competitive edge.

Bank and Credit Union Methodology

To provide our readers with objective reviews, we score each bank using the metrics below, assigning weight based on what matters most to consumers:

  • Product Variety: 40%
  • Customer Experience: 20%
  • Bank Bonuses: 10%
  • Interest/Cashback Accounts: 10%
  • ATM Accessibility: 10%
  • Overdraft Protection: 5%
  • Fee Structure: 5%

Checking Account Methodology

To assess checking accounts, we consider the factors below:

  • Account Features: 30%
  • Customer Experience: 20%
  • Monthly Fees: 15%
  • Bank Bonuses: 10%
  • Earns Interest or Cashback: 10%
  • ATM Accessibility: 10%
  • Branch Access: 5%

Savings Account Methodology

To rate savings accounts, we zero in on these factors:

  • Interest: 25%
  • Account Features: 20%
  • Customer Experience: 20%
  • Monthly Fee: 15%
  • Bank Bonuses: 10%
  • Minimum Opening Deposit: 5%
  • Minimum Balance Requirement: 5%

CD Account Methodology

Our CD ratings factor in the following:

  • Interest: 20%
  • Customer Experience: 20%
  • Term Variety: 15%
  • Compounding Frequency: 15%
  • Bank Bonuses: 10%
  • Early Withdrawal Penalties: 10%
  • Minimum Opening Deposit: 10%

Business Checking Account Methodology

Our business checking account ratings are based on:

  • Account Features: 30%
  • Monthly Fee: 20%
  • Customer Experience: 20%
  • Bank Bonuses: 10%
  • Earns Interest or Cashback: 10%
  • ATM Accessibility: 10%

Our Editorial Team

The BankBonus editorial team is built of expert researchers with years of experience providing in-depth analysis of banks, credit unions, checking and savings accounts, and their features.

Outside of BankBonus, our editorial team members have been featured in industry-leading publications like the New York Times, Wall Street Journal, Money Magazine, CNBC, ABC, NPR, MarketWatch, and Fox Business.

Each of our reviews goes through an extensive editorial process where they’re evaluated by multiple team members to ensure the content is accurate, helpful to consumers, and up to the BankBonus standard.

Review Updates

We constantly research banks, accounts, interest rates, and industry trends to keep our bank reviews as reliable and up-to-date as possible.

In addition to fully reviewing and updating each review on an annual basis, our editorial team maintains contact with banks and frequently updates content to reflect changes to a bank’s status or offerings.