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11 Places to Get Free Checking Account
Chime
(Qualify for up to $200 overdraft without paying any fees)
Chime is a Fintech company that provides a wide range of banking services such as saving accounts and secured credit cards.
It also offers a free checking account with the following features;
- Does not attract monthly fees
- No minimum opening balance
- No account maintenance fee
- Access to a large ATM network of over 40,000 machines
The account enables you to make deposits and receive payments within two days with no extra charge.
When you receive a direct deposit of $500 and above, you can join the optional Spot Me service that offers an overdraft of up to $20 on your debit card for purchases without paying a fee.
Chime can also increase your limit up to $200, depending on your account history.
Ally Bank
(Enjoy an APR of 0.1% on deposits)
Ally Bank Summary
- $0 adivsory fees on investment portfolios
- 0.5% annual percentage yield for savings
- No withdrawal fees at over 55,000 ATMs
- 24/7 customer support also available
Ally Bank provides a free and interest-free checking account for its clients without an opening balance; however, you must fund your account within thirty days for it to remain active.
After the initial funding, you’ll not pay any fees, and you can receive your checks and access up to 43000 ATMs across the country.
You can also get refunds of up to $10 after incurring other ATM fees.
Other benefits of Ally Bank account
- You can enjoy a 0.10% APR or Annual Percentage Yield if your account has a minimum daily balance below $15000 and 0.25% APR if your account has over $15000 minimum daily balance.
- This account has no maintenance fees; however, you’ll be charged a $25 fee if your account has a negative balance.
- You’ll not pay to receive regular checks on your mailbox within 7 to 10 days; but, for quick service of 2 days, and you’ll be charged $15 per check.
Capital One
(Earn a 0.1% APY on deposits)
Capital One provides a free checking account, however, you must deposit funds within sixty days of opening the account for it to remain active.
There’s no minimum balance required to open this account, and you can access over 70000 ATMs across the country without paying any fee.
One major benefit of this account is the 0.1% APY and zero monthly maintenance charges alongside zero ACH transfer fees.
Another key feature of this account is the auto decline function that ensures you don’t overdraw your account. However, if you overdraw, the Next Day Grace feature will cushion you against paying the $35 overdraft charge.
This means that you can overdraw your account and if you reimburse the funds before the end of the day, you’ll not pay a $35 fee.
Other additional features you’ll find in this account include;
- Free transfer from savings accounts
- Free checks
- Real-time notifications of your account activity
- Connection to Zelle online solution.
Hills Bank
(Get a bonus of $50 for opening a checking account)
Hills Bank offers a free checking account with no minimum balance, monthly fees, or initial deposit. You’ll get a free debit card, access to online banking, and unlimited free ATM transactions when you open this account.
You can also access the account via your desktop and mobile app on your android or iOS devices.
Bank5 Connect
(No monthly fees)
Bank5 Connect checking account comes with no opening or monthly maintenance fee; however, you need a minimum deposit of at least $10 to open an account.
After opening an account, you don’t need to maintain a minimum balance to be active and you can also enjoy other services, such as bill settlement with no extra fee.
The only fees you can pay with this account are;
| Activity | Fee |
| Overdraft fee | $15 |
| Returned item fee | $15 |
| Cashed check returned fee | $15 |
| Stop payment fees | $15 |
In addition, the account has no daily deposit limit; however, the funds may take longer to access if you deposit more than $5000 in a single day.
Other features include ATM fee reimbursements and bill pay services.
Discover Bank
(Enjoy zero minimum balance for 365 days)
If you’d like an account to receive your deposits or payment, you can consider Discover Bank’s free checking account, with no monthly or maintenance fees.
Once you open your account, you must deposit funds within 44 days for it to be active.
Discover Bank free checking account has a host of other convenient features such as;
- Zero minimum balance requirement for 365 days,
- free ATM withdrawals,
- Zelle connection within 90 days of opening the account
- Zero ACH transfer fees.
- Free wire transfers
- $30 for outgoing wire transfers
- Free regular checks and overdrafts.
Aliant Credit Union
(Get a $20 ATM rebate fee)
Alliant Credit Union personal checking account comes with a pack of useful features, including no account opening fee, no monthly maintenance fee, and free ATM withdrawals.
In addition, you’ll not pay overdraft fees; however, some other charges like a stop payment fee of $25 may apply.
A $20 ATM rebate fee is an excellent feature if you travel often and use foreign ATMs.
Alliant Credit Union checking account charges
| Account Feature | Charge |
| Return deposit fee | $15 |
| Paper statement charges | $1 |
| Manual paid checks and ACH item charge | $5 |
| Collections fee | $29 |
| Verbal stop payments | $25 |
| Non-sufficient funds items | $25 |
| Inactivity and dormant activation fee | $10 |
| Account closure | $10 |
| ATM rebate fee | $20 |
Varo Bank Free Checking Account
(Access over 55,000 ATMs for free)
A Varo Bank checking account is a digital product that you can only access online to receive payments such as salary remittances.
When you open this account, you’ll not pay a minimum deposit or a monthly maintenance fee.
There’s no minimum balance to operate this account, and there’s no interest as well. The account doesn’t charge overdraft fees as it declines unfavorable transactions that can occasion an overdraft.
There are a few drawbacks of operating this account, for instance;
- It doesn’t support Zelle online banking
- There are limitations on ACH transfers to less than $5000 per transaction and $10000 per month.
- Checks and wire transfers are not available on this account.
You can withdraw your money at over 55,000 ATMs without paying any fee. However, you may be charged $2.50 when you draw cash from an out-of-network ATM.
FNBO Direct
(Enjoy an APY of 0.15% on deposits)
You can open an FNBO Direct online checking account without paying charges or a minimum deposit. In addition, there’s no minimum balance requirement, and you’ll not pay an account maintenance fee to keep this account active.
You’ll not pay any ATM fees; however, there’s a daily cap of ATM transactions value of $1000.
With this account, you” enjoy an APY of 0.15%, and there are no ACH transfer charges or incoming wire transfers, but you’ll pay $15 for outbound wire transfers.
Even though the Zelle feature is not available, you can get person-to-person payments under PopMoney, an easy and secure online payment solution.
There is an overdraft fee of $33 and you can only have four overdrafts per day. Lastly, one drawback is that there are no checks available under this account.
Schwab Bank
(Enjoy unlimited rebates at over 40,000 ATMs)
Schwab Bank’s free checking account offers free withdrawals and is ideal if you don’t make deposits often. The account offers unlimited fee rebates at over 40,000 ATMs globally.
There are no monthly fees or minimum balance requirements to operate this account, and you’ll enjoy free overdraft transfers from linked accounts.
You’ll not pay any monthly service fee on this account regardless of your account balance, and you can enjoy a Schwab One brokerage account without having a minimum balance. Also, online transfers between these two accounts are free.
Some of the main account features you’ll find in this account include;
- Access to account information
- Mobile deposits allowed
- Bill payments
- Free incoming fund transfers
- No overdraft transfer fees
- Free stop payments
You can also activate transaction alerts to get real-time notifications on your account activity.
On the downside, you’ll pay $25 per outgoing wire transfer and $10 per cashier cheque.
G2bank
(Withdraw funds from over 42,000 ATMs at no charge)
G2bank offers a free checking account with no monthly fees, hidden fees, and minimum balance.
There are no overdraft fees on this account and you’ll not pay a single cent to withdraw your funds from over 42000 ATMs; however, foreign ATMs will charge you 3% fees.
With the mobile app, you can manage your payments easily, including paying your utility bills and money transfers.
Setting up an account is fast on the website or by downloading the G2bank to your mobile device. Here are the requirements:
- You’ll need your identification documents such as Government ID and SSN
- Proof of address
After approval, you’ll receive your Master debit card within seven days, and you can deposit money to activate and use it.
Free Checking Account FAQ
What is a checking account?
A checking account is an account operated by financial institutions. It enables users to receive deposits, payments, or salaries and make withdrawals. Therefore, you can access your money easily for daily use using a checking account.
What are the requirements to open a checking account?
Quite often, every bank has its own rules and requirements to open and operate an account. However, some general rules cut across the industry, like having valid identification documents such as SSN, driver’s licenses, government ID, and passport. Also, you must provide your physical address and a utility bill.
