The Best Free Checking Accounts

There is certainly a free checking account that will work for you depending on where you bank, what you do, or what you’re comfortable with. Too many people believe that banking is expensive and that the only options for a checking account are to pay fees or hold ridiculously huge balances to avoid paying fees.

You can manage your money conveniently and affordably with a free checking account, receiving payments and making purchases without having to pay monthly service fees. The finest free checking accounts won’t charge you any fees to keep your account active, even if your balance hovers near zero.

Also Read: The Best Online Banks | Learn How To Start Investing While Still In High School

Other expenses, such as ATM fees, overdraft fees, and foreign transaction fees, are minimised at the finest banks with free checking accounts. To sweeten the deal, they may give interest or perks. 

The Best Free Checking Account Options:

  1. Discover Cashback Debit

Discover is the only free checking account that has no fees—no monthly maintenance fee, no ATM fee, and no insufficient funds fee. Discover has no ATM costs, no insufficient funds fees, no outgoing wire transfer fees, no fees for checks, and no debit card replacement fees, in addition to not charging monthly maintenance fees or needing a minimum initial deposit. They don’t even charge a cost for expediting your replacement debit card, therefore it falls into the fee-free category. Discover does not have physical locations, however, it does have over 60,000 in-network ATMs across the United States. Your Discover accounts are FDIC-insured up to $250,000.


There are no monthly costs.

There are no ATM fees.

There are no fines for inadequate cash.

Each month, you can earn 1% cashback on up to $3,000 in purchases with your free debit card.


It is not an interest-bearing account.

There are no physical branches.

There are no monetary deposits.

  1. Axos Rewards Checking

Axos Bank bills itself as the “most experienced digital bank in America.” And its Rewards checking account comes with all of the bells and whistles you’d expect from a top-tier online bank. There are no minimum balance requirements, monthly fees, or overdraft, or insufficient money fees with Rewards Checking. Plus, they refund you for domestic ATM withdrawals indefinitely! To be authorized by Axos Bank, you must have a strong banking history. This account is fantastic because it not only has no monthly fees, but it also pays interest. Right now, you may earn up to 1.25 percent APY!


High Annual Percentage Yield

There are no monthly payments for upkeep.

There are no overdraft costs.

Reimbursement of ATM fees in the United States is unlimited.


To earn the maximum APY, you must have a balance and direct deposit. A $50 initial deposit is required.

There are no physical branches.

  1. Chime Free Checking

You may combine your checking and savings accounts with Chime. It offers a terrific user interface and a clever technique to help you save money. It will round up your charges to the nearest dollar and deposit the difference in your savings account. Saving a few pennies adds up quickly. If you’ve struggled with saving in the past, this will greatly assist you in meeting your savings objectives. You can also save up to 10% of your earnings by transferring them to a savings account. While this is a lovely touch, an automatic transfer between any checking and savings account is feasible.


There are no ongoing fees.

There is no minimum balance required.

There will be no compensation for ATM fees.

Fees for international transactions: There are no fees for international transactions, but there is a $2.50 ATM fee because Chime’s in-network ATMs are solely in the United States.

Savings by rounding up: Round up every transaction to the nearest dollar and deposit the difference in a savings account.


There are no physical branches

A mobile deposit is necessary.

  1. GO2bank

GO2bank is a mobile bank on a mission to revolutionize mobile banking. It’s the fact that GO2bank cares about folks who have never had a bank account that we appreciate the most about it. Green Dot Corp, a company with which many people are already known, established GO2bank.


There are no ongoing fees.

There is no minimum balance required.

Up to $5,000 in your savings account will earn you a 1.00 percent APY (Annual Percentage Yield).


There is a $5 monthly cost for this account.

  1. OnJuno

We wanted to include OnJuno because it is a mobile bank with a really attractive APY. While OnJuno is a checking account, it offers a fantastic interest rate that will entice savers to pay attention. The only disadvantage is the limitation. On accounts up to $30,000, you can earn up to 1.20 percent APY right now. After that, on balances up to $100,000, the APY lowers to 0.25 percent.


There is no minimum to open an account with them, and there are no monthly maintenance costs!

Organizes money so that investments and cash are all in one location.

Interest rates may be greater than those offered by traditional banks.

Possibility of using a debit card as well as checks

Get your ATM fees reimbursed.

FDIC insurance limit increased


There may be a monthly cost.

Interest rates may be lower than those offered by online banks like OnJuno.

You may have uninsured investments.

There are no choices for face-to-face client service.

A minimum deposit may be required.

Fighting The Myth Of Free Checking Accounts:

We touched on it briefly before, but there is a long-held belief in America that checking accounts are costly. As a result, far too many people go without this tool and rely on costly alternatives such as check cashing, money orders, and other services.

What You Need In A Checking Account:

There are no monthly fees for maintenance.

No or low monthly balance required 

No requirement for direct deposit 

Awesome online access 

No ATM fees


Hopefully, you can see that there are a variety of free checking choices available. You don’t have to pay any fees to have a checking account; all you have to do is an open one with a reputable bank. Alliant Credit Union’s High-Interest Checking Account takes the prize for top free checking accounts thanks to a mix of nearly no fees and a competitive APY. It also boasts one of the most generous ATM charge rebate schemes, offering up to $20 in monthly rebates. It also boasts one of the largest ATM networks, with 80,000 fee-free ATMs. This credit union is simple to join, and anyone can do so for no cost.

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