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Contents
- 1 BEST FREE PERSONAL CHECKING ACCOUNTS
- 1.1 Axos Bank Rewards Checking
- 1.2 OnJuno Free Mobile Banking
- 1.3 CIT Bank eChecking
- 1.4 Chime Free Mobile Banking
- 1.5 Aspiration Planet-Friendly Cash Back Account
- 1.6 Current.com Free Mobile Banking
- 1.7 Revolut App
- 1.8 First Citizens Bank Free Checking
- 1.9 Capital One 360 Checking
- 1.10 Schwab High-Yield Investor Checking
- 2 Important Considerations With A Free Checking Account
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 $600 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
- BMO Harris Bank Checking $200 Or $350 Bonus >>Learn more
- HSBC Premier Checking $500 Bonus >>Learn more
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, Up To 1.25% 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 free standard plan 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? Fee-free 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:
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 promotions here and the best investing promotions here.
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.