Who has the best bank account rates and the lowest fees?

What is the best type of bank account to have, and where should you open it?

WalletHub, an online resource for financial products, reviews and news, recently published its second-quarter banking landscape report. In the report, WalletHub examined fees, features, and rates associated with more than 2,000 checking accounts, savings accounts and money-market accounts from financial institutions across the country.

Since the first quarter, interest rates have increased overall for checking and savings accounts, according to the report. Checking account rates increased by 12 percent and savings account rates increased by about 11 percent.

For the average consumer, the best deal on checking accounts is online, according to WalletHub. Online accounts are 23 percent cheaper than branch accounts and provide a 94 percent higher average interest rate.

Online checking accounts led the way for interest-bearing checking accounts at an average of 0.51 percent based on a $1,000 balance, according to the report. Personal branch accounts averaged 0.27 percent, and business branch accounts totaled 0.11 percent.

Online personal savings accounts also were the leader for interest rates, according to the report.

Based on a $1,000 balance, a personal online account earned interest of 0.59 percent, compared with online branch accounts, which earned 0.12 percent, and business branch accounts, which earned 0.08 percent, according to the report.

Debra Stamper, general counsel and executive vice president of the Kentucky Bankers Association, said customers should start seeing interest rates on personal bank accounts increase at a pace similar to how quickly loan interest rates increase. She said increases in the two figures — loan interest rates and returns on accounts — tend to go hand-in-hand.

Stamper added that many banks havent increased their return rates significantly because of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

With the passage of Dodd-Frank, a lot of sources of income to banks were significantly reduced, she said. So a lot of the features that were free just couldnt be free anymore.

With fewer sources of income, banks have looked to generate revenue elsewhere.

According to the WalletHub report, fees associated with the checking accounts increased 1.57 percent, and the average minimum to open a savings account increased 21 percent from the first quarter of 2014 to the second quarter of 2014.

For checking accounts, the average monthly fee for a business branch account is $8.73, with a personal branch account at $5.80 and personal online accounts at $3.89, according to the report.

Fees for savings accounts were $2.11 for an average monthly fee on a personal online savings account, $5.08 average monthly fee for a personal branch account and $10.39 for a business branch account, according to the report.

The future for bank accounts is likely to bring more options, Stamper said.

Banks are looking for more creative ways to offer customers just the services that they want versus a one-size-fits-all checking account, she said. I see our banks looking to target more specific groups of customers.

Stamper said much of what is offered to clients is based on demand and is depends on the type of bank and its location.

Braden Lammers covers these beats: Financial services, residential real estate, law, property and casualty insurance, construction, unions, engineers, architects and agriculture.