Looking to open your first ever Checking account or simply tired of paying monthly maintenance fees with your current one? A free personal Checking account may be what you’re searching for.
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.
Maybe you don’t need all the bells and whistles of a premium Checking account. Somewhere to carry a small balance and perform basic Checking tasks may be all you need. 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.
We’ll review your best free Checking account options below.
Checking Account Offers You May Like:
- U.S. Bank up to $400 Bonus >>Learn more
- Chase Total Checking® $200 Bonus >>Learn more
- Bank of America Advantage Banking $100 Bonus Offer >>Learn more
- TD Bank Checking $300 Bonus >>Learn more
- BEST FREE PERSONAL CHECKING ACCOUNTS
- Axos Bank Rewards Checking
- OnJuno Free Mobile Banking
- CIT Bank eChecking
- Chime Free Mobile Banking
- Aspiration Planet-Friendly Cash Back Account
- Current.com Free Mobile Banking
- Revolut App
- First Citizens Bank Free Checking
- Capital One 360 Checking
- Schwab High-Yield Investor Checking
- Important Considerations With A Free Checking Account
- How To Open A Free Checking Account
- Pros And Cons Of Free Checking Accounts
- Frequently Asked Questions (FAQ) On Free Checking Accounts
BEST FREE PERSONAL CHECKING ACCOUNTS
Axos Bank Rewards Checking
Axos Bank is an internet-only bank that offers a few free Checking accounts. There Rewards Checking account is particularly a good one to consider. It earns interest and has no monthly maintenance fees or minimum balance requirements to worry about.
- Availability? Available online nationwide.
- Physical Branches? No physical branches
- Mobile app? iOS & Android
- Earns interest? Yes, earn up to 3.30% APY
- Monthly Service Charge? None
- Minimum balance requirement? None
- Minimum opening deposit? $50
- ATM access? No ATM fees nationwide as they reimburse all fees at U.S. ATMs
See the current offer below:
OnJuno Free Mobile Banking
OnJuno is a mobile banking option that lets you earn a bonus rate on deposits and cash back.
Choose from their free Basic Checking account or their Metal Checking account with more features for a fee. Both account options will earn a bonus rate on deposits and cash back on spending.
- Availability? Available online nationwide.
- Physical Branches? No physical branches.
- Mobile app? iOS & Android
- Earns interest? Earn a bonus rate on deposits and cash back on spending.
- Monthly Service Charge? Basic Checking is free. Metal Checking has a fee.
- Minimum balance requirement? None
- Minimum opening deposit? $0
- ATM access? 85,000 Allpoint & MoneyPass® ATMs. 1 free withdrawal per month at Out-of-Network ATMs.
See the current offer below:
CIT Bank eChecking
The eChecking account from CIT Bank is an online and mobile banking product. The minimum opening deposit is $100 for the eChecking account. Deposit checks remotely and make transfers easily with the CIT Bank mobile app.
CIT Bank does not charge ATM fees. Get up to $30 in other bank’s ATM fees reimbursed per month. Transfer, pay and purchase via mobile with Zelle®, Bill Pay, Samsung Pay and Apple Pay.
- Availability? Available online nationwide.
- Physical Branches? No physical branches
- Mobile app? iOS & Android
- Earns interest? Yes
- Monthly Service Charge? None
- Minimum balance requirement? $100
- Minimum opening deposit? $100
- ATM access? CIT Bank doesn’t charge ATM fees and reimburses up to $30 in other U.S. bank’s ATM fees on eChecking accounts.
See the current offer below:
Chime Free Mobile Banking
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 there won’t be an option for in-branch service. Your ATM access includes 60,000+ fee-free ATMs – more than the top 3 national banks combined. Find them at popular retail stores like Walgreens, CVS, and 7-Eleven.
- Availability? Available online nationwide.
- Physical Branches? No physical branches.
- Mobile app? iOS & Android
- Earns interest? Low rate. See offer page for current rate.
- Monthly Service Charge? None
- Minimum balance requirement? None
- Minimum opening deposit? $0
- ATM access? 60,000+ fee-free ATMs with the Allpoint®, Visa® Plus Alliance, or MoneyPass® at 7-eleven logo on a sign at the ATM or displayed on the ATM screen. You won’t be charged by Chime for using out-of-network ATMs, but the ATM service provider may.
See the current offer below:
Aspiration Planet-Friendly Cash Back Account
Aspiration is a planet-friendly cash back account.
Plant a climate change-fighting tree with every purchase by rounding up to the nearest whole dollar. And know that your deposits won’t fund fossil fuel projects like pipelines, oil drilling and coal mines when you open an Aspiration Spend & Save account.
You’ll earn cash back when you spend at socially conscious retailers.
- Availability? Available online nationwide.
- Physical Branches? No physical branches.
- Mobile app? iOS & Android
- Earns interest? No. Earn cash back through socially conscious spending.
- Monthly Service Charge? None for basic Aspiration account. Aspiration Plus has a monthly fee.
- Minimum balance requirement? None
- Minimum opening deposit? $0
- ATM access? 55,000+ fee-free ATM network
Current.com Free Mobile Banking
Current is another mobile banking option and considers itself the bank for the modern life.
Open a personal, premium checking account with Current to enjoy benefits such as getting paid up to 2 days faster, free overdraft up to $100 with Overdrive, access to 55,000 free ATMs, no minimum balance and no hidden fees. You can also earn earn points and get cash back.
- Availability? Available online nationwide.
- Physical Branches? No physical branches.
- Mobile app? iOS & Android
- Earns interest? No. Instead, you earn points that can be redeemed for cash back.
- Monthly Service Charge? Basic Checking is free. Premium Checking has a fee.
- Minimum balance requirement? None
- Minimum opening deposit? $0
- ATM access? 55,000+ free ATMs
See the current offer below:
Revolut App
The Revolut app gives you all the financial products you need in one app – prepaid debit cards, cashback and rewards, money transfers, foreign currency exchange and more.
Revolut isn’t a traditional bank account – it’s an online-only technology company that provides financial services through third-party partners. Your money is protected because deposits made into Revolut are FDIC-insured through partner banks.
Enjoy no hidden fees or minimum balance requirements on your account and earn 1% cashback on all qualifying purchases (T&Cs apply).
You can sign up for a standard plan with no monthly fee or a paid plan with additional features. All plans allow you to spend right away with Apple Pay or Google Pay — no need to wait for your physical card to arrive!
- Availability? Available online nationwide.
- Physical Branches? No physical branches.
- Mobile app? iOS & Android
- Earns interest? Yes. See offer page for current rate.
- Monthly Service Charge? None
- Minimum balance requirement? None
- Minimum opening deposit? $0
- ATM access? Zero fee withdrawals at 55,000 in-network ATMs. No cost out-of-network ATM withdrawals up to $1,200 per month.
Funds in your Revolut account are held at an FDIC insured institution. Your funds will be held at or transferred to Metropolitan Commercial Bank, an FDIC-insured institution. While there, your funds are insured up to $250,000 by the FDIC in the event Metropolitan Commercial Bank fails if specific deposit insurance requirements are met and your card is registered. See fdic.gov/deposit/deposits/prepaid.html for details. FDIC insurance does not protect your funds in the event of Revolut’s failure or from the risk of theft or fraud.
See the current offer below:
First Citizens Bank Free Checking
First Citizens Bank is one of the largest family-controlled banks in the United States. The Free Checking account from First Citizens Bank has no monthly fees when you enroll in paperless statements. There is no minimum balance requirement and you can open an account with as little as $50.
Free digital and mobile banking is available for convenience – you can deposit checks on your smartphone for free. Zelle® is available for sending and receiving money from people you know. While you can handle most of what you need online and through the mobile app, you’ll also have physical branch and ATM access where available.
- Availability? Available in NC, SC, TN, AZ, CA, CO, FL, GA, KS, MD, MO, NM, OK, OR, TX, VA, WA, WV and WI.
- Physical Branches? Physical branches available
- Mobile app? iOS & Android
- Earns interest? No
- Monthly Service Charge? None
- Minimum balance requirement? None
- Minimum opening deposit? $50
- ATM access? Branches/ATMs available in NC, SC, TN, AZ, CA, CO, FL, GA, KS, MD, MO, NM, OK, OR, TX, VA, WA, WV and WI.
See the current offer below:
Capital One 360 Checking
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.
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
- Earns interest? Yes; low rates currently.
- Monthly Service Charge? None
- Minimum balance requirement? None
- Minimum opening deposit? $0
- ATM access? Use the more than 40,000 ATMs in the Allpoint network in the U.S. for free.
See the current offer below:
Schwab High-Yield Investor Checking
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 up to a $500 bonus first.
- Availability? Available online nationwide.
- Physical Branches? No physical branches.
- Mobile app? iOS & Android
- Bonus offer? $500 bonus with a new Checking account linked to their brokerage account.
- Earns interest? Low rate. See offer page for current rate.
- Monthly Service Charge? None
- Minimum balance requirement? None
- Minimum opening deposit? $0
- ATM access? Any ATM worldwide that accepts the Visa debit card – unlimited ATM fee rebates. This is the best access for travelers!
See the current offer below:
READ MORE: CUSTOMERS ARE RECEIVING BIG WELCOME BONUSES FROM CHASE BANK
Important Considerations With A Free Checking Account
Consider these features when choosing a free checking account:
- No monthly balance requirements: Some accounts require a minimum balance to waive the monthly fee.
- No monthly fees: If you think you’ll have any issue with monthly balance requirements, try to find a basic checking account with no monthly fee.
- ATM access fees: Popular online checking options will reimburse some or all of the out-of-network ATM fees.
- Online banking and mobile apps: The big banks and top online banking apps have polished platforms. Be sure to read app reviews just in case.
- Direct deposit: Make sure the checking account you choose can handle direct deposits without complicated requirements if you need this feature.
- Interest-bearing accounts: Rates likely won’t be great, but online banking apps tend to do better than traditional big banks.
- Perks offered: Some banks may provide extra benefits such as cashback rewards, rebates, free checks, free international transactions, etc. Consider these perks when weighing your options.
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
How To Open A Free Checking Account
Opening a checking account online is a breeze! Here’s a step-by-step guide to help you get started:
- Look for a button on the bank’s website that says “Apply Now” or “Open An Account”.
- Click on the button, and it will take you to an online application form.
- Fill out the form with your personal information, including your name, address, and SSN.
- Some banks may require additional identity verification. If needed, you might have to upload photos of your ID or passport.
- Next, you’ll be asked to fund your account. You can easily transfer money from your current account. Some banks may use secure platforms like Plaid to connect to your existing account, while others may ask for your routing and account number.
- Once you’ve completed the steps, expect to receive a welcome packet in the mail.
- If you prefer a more traditional approach, you can also open an account at a local branch. The process will be similar, but make sure to bring identification documents and a blank check.
Remember, whether you choose to open an account online or in person, the process is designed to be simple and convenient. So, get ready to embark on your banking journey with ease!
READ MORE: TD BANK IS OFFERING BIG INCENTIVES FOR NEW CUSTOMERS
Pros And Cons Of Free Checking Accounts
Free checking accounts may appear attractive at first glance, but it’s essential to consider the advantages and disadvantages associated with these accounts. Let’s explore both sides to help you make an informed decision.
Pros Of A Free Checking Account:
- Basic Checking Features: Most free checking accounts provide essential features such as online and mobile banking, person-to-person transfers, mobile check deposit, bill pay, and a debit card. These features ensure convenient access to your funds and smooth financial management.
- Low Minimum Balance Requirement: Free checking accounts often have a low minimum balance requirement. This eliminates the need to maintain a high balance, making it easier for individuals to avoid fees and stay on top of their finances without worrying about meeting a significant balance threshold.
- More Financial Flexibility: By opting for a free checking account, you can allocate more money towards paying bills or building an emergency fund. The absence of monthly maintenance fees or minimum balance requirements allows you to save and allocate your funds as you see fit.
- Welcome Bonuses and Rewards: Many banks still offer welcome bonuses as incentives for opening free checking accounts. Additionally, some of the best free checking accounts provide interest on balances or cashback rewards, allowing you to earn a little extra on your funds.
Cons Of A Free Checking Account:
- Limited Premium Features: Free checking accounts often serve as entry-level products, lacking some premium features. These features may include lower or no interest on your balance, fewer ATM reimbursements or free checks, and the absence of discounts or account perks such as loan discounts or free safe deposit boxes. It’s important to consider these trade-offs if you value specific benefits or privileges.
- Potential for Additional Fees: While the account itself may be free, certain actions or services may incur fees. For example, if you overdraft your account or require additional services beyond the basic features, the bank may charge fees. It’s crucial to review the fee schedule and terms and conditions associated with the free checking account to understand the potential costs involved.
- Limited Branch Access: Some free checking accounts are primarily online-based, which may limit access to physical branch locations. If in-person banking and face-to-face interactions with bank staff are important to you, this could be a drawback.
Assess your banking needs, consider the trade-offs, and carefully review the terms and conditions before deciding if a free checking account aligns with your financial goals and preferences.
READ MORE: U.S. BANK STARTED OFFERING ONE OF THEIR BIGGEST SIGN-UP BONUSES
Frequently Asked Questions (FAQ) On Free Checking Accounts
There are several options for free checking accounts, including traditional banks, online banks, and credit unions. Some banks offer truly free checking accounts, while others provide fee waivers as long as specific requirements are met. Here are a few examples:
Aspiration
Axos
Capital One
Charles Schwab
Chime
It’s important to note that even with free checking accounts, there may be other associated fees to consider.
Most banks offering free checking accounts allow you to open an account online. This is especially true for online banks that operate without physical branches.
Traditional banks and credit unions usually provide options to open an account online or in person at one of their branches. Additionally, you can often seek assistance by contacting the bank’s customer service through their provided phone number.
Banks that offer free checking accounts do not charge a monthly fee. However, some banks may have a monthly fee that can be waived if specific requirements are met.
These requirements typically include maintaining a minimum daily or monthly balance and/or setting up direct deposit with regular monthly funds going directly into the checking account.
Free checking accounts commonly provide benefits such as:
No monthly fees
No minimum balance requirements
Access to intuitive mobile apps for convenient account management
Debit cards for easy transactions
Access to fee-free ATM withdrawals, with some limitations
Yes! Many banks offer new account bonuses, even for opening a free checking account. Although the bonus amount may sometimes be lower compared to bonuses offered for premium accounts, it can still be a valuable incentive. See the best new account bonuses here.
I love your page as it has a lot of promotions. However, I’m a bit of a spreadsheet nerd. Is there was to download the entire list into a spreadsheet format:? Thank you! AJ
I always wondered what the fee in the checking account was for. I didn’t realize that the more benefits the checking account provides, the higher the fee is. What if I am someone who doesn’t really need all of the extras? Is there an option out there that just gives me the base, essentially just holds my money for me?
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.
The rates at the four biggest banks in the country offer very little in terms of interest rates. Chase, Citibank, Wells Fargo, Bank of America are usually at the bottom of the interest rate charts.