Banks That Offer Free Checking Accounts Bankrate Caret RightMain Menu Mortgage Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Bank Banking Compare Accounts Use calculators Get advice Bank reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Credit Card Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Caret RightMain Menu Loan Loans Personal Loans Student Loans Auto Loans Loan calculators Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Invest Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Home Equity Home equity Get the best rates Lender reviews Use calculators Knowledge base Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Loan Home Improvement Real estate Selling a home Buying a home Finding the right agent Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Insurance Insurance Car insurance Homeowners insurance Other insurance Company reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Retirement Retirement Retirement plans & accounts Learn the basics Retirement calculators Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Advertiser Disclosure
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. SHARE: Oscar Wong/Getty Images March 21, 2022 Karen Bennett is a consumer banking reporter at Bankrate. She uses her finance writing background to help readers learn more about savings and checking accounts, CDs, and other financial matters. David Schepp is a wealth editor for Bankrate, focusing on deposits and consumer banking content. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our banking reporters and editors focus on the points consumers care about most — the best banks, latest rates, different types of accounts, money-saving tips and more — so you can feel confident as you’re managing your money. Bankrate logo Editorial integrity
Bankrate follows a strict , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. Here is a list of our . Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers. Editorial Independence
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Banks often charge monthly fees just to maintain your checking account. Some charge penalties if your account dips below the required minimum balance, or they may charge fees for using competing banks’ ATMs. But that doesn’t mean it’s impossible to sign up for a free checking account that can save you a few bucks. With a number of free checking accounts to choose from, it’s not hard to find a no-fee option. Here’s a look at a few banks that offer free checking accounts. 1 Ally Interest Checking Account
offers an Interest Checking Account with no minimum opening deposit or monthly maintenance fee. The account also pays a bit of interest (0.1 percent annual percentage yield) on balances under $15,000 and a bit more (0.25 percent APY) on accounts that carry a daily balance of $15,000 or more. Interest Checking Account also offers perks such as f ree standard checks and access to Allpoint ATMs, plus great mobile app ratings. Minimum deposit and balance requirements: $0 Yield: up to 0.25 percent APY ($15,000 minimum daily balance required, otherwise APY is 0.1 percent.) Branches: None Mobile app scores: Apple App Store, ; Google Play, ATMs: More than 43,000 Allpoint surcharge-free ATMs, plus up to $10 reimbursement per statement for fees charged at other ATMs in the U.S. Offers and incentives: Free standard checks, no-fee cashier’s checks and incoming wire transfers. As an online bank, Ally has no branches to visit if you have a concern that requires in-person assistance. 2 Capital One 360 Checking Account
Capital One charges no fees to open or use a 360 Checking account — not even for foreign country debit card transactions — and mobile banking is streamlined and easy to use. Minimum deposit and balance requirements: $0 Yield: 0.1 percent APY Branches: Located in seven Eastern and two Southern states Mobile app scores: Apple App Store, ; Google Play, ATMs: More than 70,000 Capital One, MoneyPass and Allpoint ATMs Charges may apply for cashier’s checks, check orders (after the first set, which is free) or stop payments on checks. 3 Discover Bank Cashback Debit account
Discover Bank’s Cashback Debit account imposes no fees or minimum balance requirements, and it also offers 1 percent cash back on up to $3,000 in debit-card purchases each month. Minimum deposit and balance requirements: $0 Yield: None Branches: One, located in Delaware Mobile app scores: Apple App Store, ; Google Play, ATMs: More than 60,000 no-fee ATMs in the U.S. Offers and incentives: 1 percent cash back on up to $3,000 in monthly debit card transactions, no stop payment fees, free standard checks and official bank checks This account pays cash back for transactions, but it earns no interest. 4 Heritage Bank eCentive Account
Midwest-based Heritage Bank perhaps doesn’t come with the cache or brand recognition of the big banks. But it does offer a generous 1.02 APY percent on qualifying balances up to $25,000 on its free eCentive checking account. Balances over that amount, however, receive a lower 0.14 percent APY. Also, to qualify for the higher APY on balances under $25,000, account holders must make at least $500 in debit card payments or purchases each month, have at least one monthly direct deposit or automatic payment (ACH) and sign up for paperless statements. A $30 fee applies if the account is closed within six months of opening. Minimum deposit and balance requirements: $100 to open, no minimum balance Yield: 1.02 percent on account balances up to $25,000 Branches: Located in Minnesota, Iowa and South Dakota Mobile app scores: Apple App Store, of ; Google Play, ATMs: In Minnesota, Iowa and South Dakota 5 NBKC Everything Account
Based in the Kansas City metro area, offers an Everything Account that yields 0.15 percent. There are no minimum balance, overdraft or maintenance fees, nor fees on returned items, stop payments, cashier’s checks and other services. Plus, the online bank reimburses up to $12 a month for other banks’ ATM fees. Minimum deposit: Zero Balance requirement: 1 cent to earn interest Yield: 0.15 APY Branches: Five in the Kansas City area Mobile app: Apple App Store, ; Google Play, ATMs: More than 37,000 MoneyPass ATMs Incoming wire transfers are free, but a $5 fee applies to outgoing wire transfers. Big bank alternatives
You might consider a big bank if you prefer a well-known financial institution that offers plenty of branches and ATMs. While these commonly charge a monthly checking account fee, it can often be waived easily by meeting set requirements. 6 Chase Total Checking
A Chase Total Checking account requires no minimum opening deposit, and the $12 monthly service fee is relatively easy to avoid. Minimum opening deposit: Zero Balance requirement: $1,500 in order to avoid a $12 monthly service fee; alternatively, the service fee can be avoided by receiving monthly minimum electronic deposits of $500 Yield: None Branches: More than 4,700 branch locations Mobile app: Apple App ; Google Play ATMs: More than 16,000 fee-free ATMs Offers and incentives: Text banking allows you to check your account balance easily by sending a text message 7 Bank of America Advantage Plus Banking
The Bank of America Advantage Plus Banking is a checking account that requires a low opening deposit and a monthly fee that can be waived in several ways. Minimum opening deposit: $100 Balance requirement: A minimum $1,500 to avoid a $12 monthly service fee; the fee can also be avoided by receiving a monthly direct deposit of at least $250 or enrolling in Preferred Rewards Yield: None Branches: About 4,200 locations Mobile app: Apple App Store, ; Google Play, ATMs: 16,000 fee-free ATMs Offers and incentives: The mobile app offers a virtual banking assistant called Erica. An overdraft protection option called Balance Connection allows you to link up to five eligible backup accounts. Bottom line
There’s no point in paying for a checking account when a number of banks offer free checking. Online-only banks often charge no checking account fees and require no minimum deposit. Big banks may charge a monthly fee, but it’s generally easy to waive by meeting simple requirements. Free checking is a smart choice, but it only works if your banking needs are met. Before choosing a checking account, consider whether you need access to ATMs, a checkbook, branches and 24/7 account information. Some banks even pay interest on their free checking accounts, which can be icing on the cake. Just be sure to pay attention to the fine print. Learn more: SHARE: Karen Bennett is a consumer banking reporter at Bankrate. She uses her finance writing background to help readers learn more about savings and checking accounts, CDs, and other financial matters. David Schepp is a wealth editor for Bankrate, focusing on deposits and consumer banking content. Related Articles