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Contents
- 1 Chase Total Checking® Account
- 2 BBVA Compass ClearConnect Free Checking
- 3 BBVA Compass ClearChoice Free Checking
- 4 Simple Checking Account
- 5 Schwab High-Yield Investor Checking
- 6 TIAA Yield Pledge Checking
- 7 Bank5 Connect High-Interest Checking
- 8 Ally Interest Checking
- 9 Capital One 360 Checking
- 10 Chime Free Mobile Banking
Whether you’re looking to open your first ever Checking account, or just simply tired of paying monthly maintenance fees with your current one, a free personal Checking account may be what you’re searching for (see free business Checking accounts here).
Many traditional Checking accounts from local banks require monthly fees that can range from a few dollars, and on up to the $20 to $30 range. The more benefits the Checking account provides, the higher the fee typically is. You certainly can waive the fees most of the time, but that typically involves maintaining a minimum daily balance, making certain types of deposits, having a minimum number of monthly transactions, etc.
A lot of folks don’t need all the bells and whistles of a premium Checking account, and just need somewhere to carry a small balance and perform basic Checking tasks. If you’re in this boat, there are still plenty of Checking account options both with traditional banks and online banks. Some of these free Checking accounts also have sign-up bonuses as well.
You’ll have far more free Checking account options with online banks due to their lower overhead costs, but depositing cash will be an issue. Depositing checks has never been easier with mobile apps.
Our other top bank guides:
We’ll review your best free Checking account options below.
Chase Total Checking® Account
While the Chase Total Checking® account isn’t free unless you meet the monthly requirement(s) to make it so, we feel it’s important to list one account option that will give you full in-branch service that is available to most residents nationwide.
They have branches in all of these states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, KY, LA, MI, NJ, NV, NY, OH, OK, OR, TX, UT, WA, WI, WV.
We chose the Chase Total Checking® account because the $12 monthly fee is easily waived with several options. You’ll need to do just ONE of the following to waive the fee:
Have monthly direct deposits totaling $500 or more made to this account.
Keep a minimum daily balance of $1,500 or more in your checking account.
Keep an average daily balance of $5,000 or more in any combination of qualifying Chase checking, savings and other balances.
If you feel you’ll never be under a $1,500 balance for any given month, this will be one of the best Checking account options available from a big bank. Plus, you’ll be able to earn a great sign-up bonus.
For truly fee-free Checking accounts without monthly requirements, see the other options below.
- Availability? Available nearly nationwide (branches in states listed above)
- Physical Branches? Yes
- Mobile app? iOS | Android
- Bonus offer? *This offer is currently unavailable at MoneysMyLife.com
- Earns interest? Yes, but a low rate typical of traditional banks
- Monthly Fee? *None (when you meet ONE monthly requirement)
- Minimum balance requirement? None
- Minimum opening deposit? $25
- Credit card funding options? You can fund up to $500 towards the opening deposit using a non-Chase credit card
- ATM access? Access to over 16,000 Chase ATMs and 5,100 branches.
- Full Review: Chase Chase Total Checking® Review
BBVA Compass ClearConnect Free Checking
Best Choice For: ATM Access
This is BBVA Compass Bank’s online free Checking account offering that is available nationwide. Not only will you have access to the more than 43,000 ATMs in the Allpoint network, but the BBVA Compass ATMs as well. That’s a combined 55,000 ATMs with no fees worldwide.
The minimum opening deposit is just $25 and you can only apply online. There is no monthly service fee, but be sure to opt out of Paper Statements to avoid the $3 charge for that service.
- Availability? Available online nationwide.
- Physical Branches? Yes, plus access to AllPoint® and BBVA Compass ATMs worldwide
- Mobile app? iOS | Android
- Bonus offer? Check for current bonus offers
- Earns interest? No
- Monthly Fee? None
- Minimum balance requirement? None
- Minimum opening deposit? $25
- Credit card funding options? You can fund the new account with a Visa/Mastercard up to $5000.
- ATM access? No ATM fees at 55,000 AllPoint® and BBVA Compass ATMs worldwide
- Full Review: BBVA Compass Review
BBVA Compass ClearChoice Free Checking
Best Choice For: Free Checking With Branch Access
For those looking for a free Checking account option with physical branch access, the ClearChoice Free Checking is available from BBVA Compass. This account will be limited to those states where branches exist, which includes Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas.
If you live in one of those above regions, this account is a solid option. You’ll have fee-free access to BBVA Compass ATMs. There are no monthly service charges and the minimum opening deposit is only $25. Your free Visa debit card can be personalized with your favorite photo.
You’ll also have the option to customize this free Checking account with additional features at a cost:
- $5 for additional ATM Transactions: Pay no BBVA Compass fee for using another bank’s ATM and up to four automatic rebates per statement cycle of ATM fees charged by other banks.
- $2 for Check Supply: Unlimited supply of standard checks and 50% off other styles.
- $2 for Cashier’s Checks: Unlimited Cashier’s Checks.
- $3 for Safe Deposit Box: 3X5 Safe Deposit Box.
Don’t opt for any of those additional features and your account is fee-free.
- Availability? Account is open to residents of AL, AZ, CA, CO, FL, NM, and TX.
- Physical Branches? Yes, find a branch or ATM here.
- Mobile app? iOS | Android
- Bonus offer? Check for current bonus offers
- Earns interest? No
- Monthly Fee? None
- Minimum balance requirement? None
- Minimum opening deposit? $25
- Credit card funding options? You can fund the new account with a Visa/Mastercard up to $5000.
- ATM access? Use BBVA Compass ATMs fee-free. You can opt for out-of-network ATM access for a $5 fee.
- Full Review: BBVA Compass Review
Simple Checking Account
Best Choice For: Mobile Banking/Unlimited Referral Bonuses
Simple is an online and mobile only bank that puts more emphasis on going mobile more than other internet banks. They have one of the most feature rich mobile apps and it is evident in the amount of user reviews left in the app stores compared to other banks’ apps.
With the app you can make mobile check deposits, as well as set goals and track your spending with their built-in tools.
There are is no monthly fee, no minimum balance requirement, no overdraft fee, no account closing fee, no card replacement fee, and no fee from Simple for out of network ATMs. You’ll have access to 40,000 in-network free ATMs. However, there is no allotted reimbursement for fees charged by other bank’s ATMs.
You can also earn a $20 sign-up bonus using our referral link below, and then start making your own $20 referral bonuses (unlimited).
- Availability? Available online nationwide.
- Physical Branches? No physical branches.
- Mobile app? iOS | Android
- Bonus offer? Unlimited $20 referral bonuses (see full review for details)
- Earns interest? Yes, earn a great rate with the online Savings account from Simple
- Monthly Fee? None
- Minimum balance requirement? None
- Minimum opening deposit? $0
- Credit card funding options? None – contact Simple to verify.
- ATM access? 40,000 in-network ATMs fee-free available.
- Full review: Simple Bank
Schwab High-Yield Investor Checking
Best Choice For: No ATM Fees Anywhere, Worldwide
Most people are familiar with Charles Schwab for offering brokerage services, but their High-Yield Investor Checking account is a secret weapon well known among savvy travelers. This is because the account provides unlimited fee rebates on ATM withdrawals worldwide.
There is no minimum deposit requirement and no monthly service fee. You’ll have access to online bill pay just like with other online-only banks, as well as mobile check deposits.
While you don’t have to use it or even deposit funds into it, you’ll receive a free brokerage account along with this Checking option.
Open a new Schwab brokerage account first with a minimum $1,000 deposit and you can earn a $100 bonus first.
- Availability? Available online nationwide.
- Physical Branches? No physical branches.
- Mobile app? iOS | Android
- Bonus offer? $100 bonus with a new Checking account linked to their brokerage account.
- Earns interest? Yes, but a low 0.35% APY.
- Monthly Fee? None
- Minimum balance requirement? None
- Minimum opening deposit? $0
- Credit card funding options? None – contact Schwab to verify.
- ATM access? Any ATM worldwide that accepts the Visa debit card – unlimited ATM fee rebates. This is the best access for travelers!
- Full review: Charles Schwab Checking
TIAA Yield Pledge Checking
Best Choice For: Free Checking With Bonus Interest
The Yield Pledge Checking account from TIAA Bank (formerly EverBank) is an online Checking account available nationwide.
You can make mobile check deposits with their app. There are no monthly service fees and you’ll actually receive unlimited ATM fee reimbursements if you can maintain a $5,000 minimum balance.
The Yield Pledge Checking account from TIAA is another solid free Checking account option for earning interest. This is especially the case for the first year, where you’ll receive a bonus rate of 1.21% APY on balances up to $250,000. After the first year, the following ongoing rates apply:
| Balances | Ongoing APY |
| $100,000 – $10,000,000 | 0.71% |
| $50,000 – $99,999.99 | 0.61% |
| $25,000 – $49,999.99 | 0.61% |
| $10,000 – $24,999.99 | 0.46% |
| $0 – $9,999.99 | 0.25% |
The ongoing rates may change, but this account gets its name from the pledge to always keep the rate within the top 5% of competitive accounts.
- Availability? Available online nationwide.
- Physical Branches? No
- Mobile app? iOS | Android
- Bonus offer? Bonus 1st year interest rate of 1.21% APY. They have a $150 Checking/$200 Money Market bonus offer available through November 30, 2018.
- Earns interest? Yes, a lower ongoing rate after the 1st year bonus.
- Monthly Fee? None
- Minimum balance requirement? None
- Minimum opening deposit? $5,000
- Credit card funding options? None – contact TIAA to verify.
- ATM access? TIAA Bank does not charge ATM fees and will automatically reimburse you up to $15 for the ATM fees paid at other U.S. ATMs each month, regardless of your TIAA Bank account balance. For TIAA Bank accounts that carry a minimum average daily balance of $5,000, ATM fee reimbursement is unlimited.
Bank5 Connect High-Interest Checking
Best Choice For: Interest Rate On All Balances
The Connect High-Interest Checking account from Bank5 has no monthly service fee and currently earns 0.76% APY on all balances when you keep at least a minimum $100 balance. You’ll have access to thousands of free ATMs and get reimbursement up to $15 monthly for ATM fees other banks charge. Bank5 Connect will never charge you for using any ATMs.
The minimum opening deposit is only $10, and there’s a lower than average $15 Overdraft Penalty fee.
- Availability? Available online nationwide.
- Physical Branches? No physical branches.
- Mobile app? iOS | Android
- Bonus offer? None currently available.
- Earns interest? Yes, 0.76% APY on all balances when you keep a $100 minimum balance.
- Monthly Fee? None
- Minimum balance requirement? None, but $100 to earn interest.
- Minimum opening deposit? $10
- Credit card funding options? None – contact Bank5 to verify.
- ATM access? Find an in-network free ATM here. Use any ATM and Bank5 Connect will never charge a fee on their side. They will reimburse up to $15 each month for ATM fees other banks charge.
- Full review: Bank5 Connect Checking
Ally Interest Checking
Best Choice For: Best Customer Service
Ally bank is an internet-only bank and has a big online presence. They offer the Ally Interest Checking account, which earns interest and will have access to over 43,000 free ATMs in the Allpoint network across the U.S. You’ll also be reimbursed up to $10 per statement cycle for fees charged at other ATMs nationwide.
They are well-known for their customer service and have an online call center that is staffed 24 hours a day, every day of the week. You’ll also have access to online Chat customer service as well.
There are no monthly service fees and you can make mobile check deposits with their app.
Interest Rate:
| Less Than $15,000 Daily Balance | $15,000 Minimum Daily Balance |
| 0.10% APY | 0.60% APY |
- Availability? Available online nationwide.
- Physical Branches? No physical branches.
- Mobile app? iOS | Android
- Bonus offer? None currently available.
- Earns interest? Yes, 0.60% APY with a $15,000 minimum daily balance.
- Monthly Fee? None
- Minimum balance requirement? None
- Minimum opening deposit? $0
- Credit card funding options? None – contact Ally to verify.
- ATM access? Use the more than 43,000 ATMs in the Allpoint network in the U.S. for free. Also, you’ll get reimbursed up to $10 per statement cycle for fees charged at other ATMs nationwide.
- Full review: Ally Checking
Capital One 360 Checking
Best Choice For: Low Overdraft Fees/Bonus Offers
The Capital One 360 Checking account is an online-only account, even though Capital One bank does have physical branches.
There is no monthly service fee and no minimum deposit to open. This Checking account also earns interest.
You’ll have access to 40,000+ free ATMs nationwide in the Allpoint network, as well as the few Capital One 360 Cafes located in eight cities around the country. When using your debit card for purchases abroad, Capital One 360 is one of the few banks that don’t charge foreign transaction fees.
Check deposits can be done with their mobile app. Another great feature the Capital One 360 Checking account provides is their Overdraft Policy. Instead of a flat fee like most banks, you’ll have the option of getting charged an 11.50% APY interest rate on the amount overdrawn. An overdraft of $100 over a one week period would cost you less than a quarter.
Interest Rate:
| Account Balance | APY |
| $0 – $49,999.99 | 0.20% |
| $50,000.00 – $99,999.99 | 0.75% |
| $100,000 or more | 1.00% |
To top it all off, there are typically several sign-up bonus offers available for this account.
- Availability? Available online nationwide.
- Physical Branches? No physical branches.
- Mobile app? iOS | Android
- Bonus offer? Several bonus offers you can find here.
- Earns interest? Yes, balances above $100,000 will earn the best rate.
- Monthly Fee? None
- Minimum balance requirement? None
- Minimum opening deposit? $0
- Credit card funding options? None – contact Capital One 360 to verify.
- ATM access? Use the more than 40,000 ATMs in the Allpoint network in the U.S. for free.
- Full review: Capital One 360 Checking
Chime Free Mobile Banking
Best Choice For: Mobile Banking For Checking/Savings
Chime is a leader in the Mobile Banking sector that is growing more and more popular as consumers are more willing than ever to manage as much as they can on their smartphones.
A Chime account includes a Spending Account (basically a Checking account) and a Savings Account. There are no monthly fees, no minimum balance fees, no overdraft fees and no foreign transaction fees.
You’ll have nearly all the functionality you’d need as you would with a traditional bank account, but obviously there won’t be an option for in-branch service. Your ATM access will include more than 30,000 MoneyPass locations, and over 30,000 cash back locations.
- Availability? Available online nationwide.
- Physical Branches? No physical branches.
- Mobile app? iOS | Android
- Bonus offer? No current bonus offers
- Earns interest? Yes, but a low .01% APY for the Savings Account.
- Monthly Fee? None
- Minimum balance requirement? None
- Minimum opening deposit? $0
- Credit card funding options? None – contact Chime to verify.
- ATM access? 30,000 fee-free MoneyPass locations. You won’t be charged by Chime for using out-of-network ATMs, but the ATM service provider may.
- Full review: Chime Mobile Banking Review
- BBVA Compass Bank Promotions: $150 To $250 Checking/Savings Bonuses
- TD Bank Promotions: $300 & $150 Checking Account Bonuses
- HSBC Bank $350 & $750 Checking Account Bonuses
- Chase Student Checking Promotions: $100 Chase College Checking℠ Bonus
- CIT Bank Promotions: Online Savings Builder Account Offers 2.15% APY
- Chase Coupon Promo Codes: $200, $300, $350, $500 – November 2018
- HSBC Bank Advance Checking Account $350 Bonus Offer
- HSBC Bank Premier Checking Account $750 Bonus Offer
- Simple Bank Review: Unlimited $20 Bonuses & Top Savings Rate Offer
- Chase Premier Plus Checking℠ Bonus: $300 Coupon Offer
- Chase Total Checking Account Bonus: $200 Coupon Available Online
- Chase Bank Business Checking Promotion: $200 Sign-Up Cash Bonus
Chase Total Checking accounts don’t actually allow “any combination of accounts” to count towards the $5000 requirement. You can designate a single savings account to be attached to a single checking account and those two combined must have a daily balance of $5000 to avoid fees.
So, you could have $40,000 sitting in Chase bank accounts, but if any of your checking accounts fall below $5000 during the month you will be charged $12 per account that does so, regardless of your overall balances, or how many Chase credit cards you have, etc.
Also note that Chase Savings accounts offer interest rates between 0.01% and 0.03%, and nothing on checking, so leaving $5000 or more sitting there vs. 1.8% or so generally being offered on savings by online banks makes very little sense.