The average checking account balance for Americans varies depending on the source and the method of calculation. Here are some different estimates that I found on the web:
• According to the Federal Reserve Survey of Consumer Finances, Americans hold an average balance of $42,000 in transaction accounts, which include checking, savings, money market accounts and prepaid debit cards. However, this average is skewed by people holding high balances, so the median balance figure, which is $5,300, might be more representative(forbes.com).
• According to a survey by J.P. Morgan Chase, the median weekly checking account balance for the second quartile of income earners was $1,750 and for the third quartile of income earners was $3,000(forbes.com).
• According to CreditDonkey, the average checking account balance for Americans is $10,545(smartasset.com).
• According to The Motley Fool, the average household checking account balance was $10,618 and the median household checking account balance was $2,000 in 2019(creditdonkey.com).
As you can see, there is no definitive answer to your question, but these numbers can give you some idea of how much cash money Americans have in their checking accounts.blush