Banking Checking Accounts

Best Bank Accounts With No Monthly Fees or Minimum Balance Requirements [2025]

You can find a checking account anywhere, but checking accounts with no fees or minimum balance requirements are a bit harder to come by. To see the best, start with these banks and companies.

By Lindsay VanSomeren

Edited by Melinda Sineriz, ABFP™

Updated Nov. 20, 2025

Fortunately for all of us, free checking accounts that don't have monthly fees or minimums are about as abundant as mosquitoes in a Minnesota summer. But some are better than others, depending on what you're looking for. And some banks that offer fee-free, no-minimum checking accounts lead the pack with perks, while others stand out for cash access or other worthwhile banking benefits.

Whether you want to earn the best interest rate, you plan to use ATMs a lot, or you're not exactly sure what it is you're looking for out of free checking yet, we'll point you to the best bank accounts with no fees or very few fees (as is more often the case).

Limited-Time Offer

2025 award winner Best Checking and Savings Combo

SoFi Checking and Savings

5.0

Learn More on SoFi's secure website, Member FDIC

Bonus Offer

Up to $300

Minimum Opening Balance

Monthly Fee

Why We Like It

Earn a $50 or $300 bonus and up to 4.00% APY¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. on your money with eligible direct deposit
Limited-Time Offer: +0.70% Boost on Savings APY for 6 months on new accounts with eligible Direct Deposit. Terms Apply.² Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.
No account, overdraft, or monthly fees³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a>
Get your paycheck up to two days early with direct deposit⁴ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Access additional FDIC insurance up to $3 million⁵ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.

Learn More on SoFi's secure website, Member FDIC

Compare checking accounts with no fees (or almost no fees)

Account	Minimum deposit	Best for you if:	Perks
SoFi Checking and Savings	$0	You receive direct deposits	Early paycheck access with direct deposit⁴ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p> Sign-up bonus¹ <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p>
Chime® Checking⁶ <p class="">Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC. <br></p>	$0	You overdraw your balance from time to time	Cashback on certain purchases⁷ <p>Eligibility requirements and limits apply. See the Chime app for details. <a href="https://www.chime.com/chime-deals-terms/">Terms and Conditions</a>.</p> 24/7 customer service Fee-free cash deposit at certain retailers⁸ <p>Once the retailer accepts your cash, the funds will be transferred to your Chime account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade. </p>
Discover^® Cashback Debit*	$0	You love using your debit card	Debit card cash back Early paycheck access 24/7 customer service
Axos ONE	$0	You use ATMs a lot	24/7 customer service Early paycheck access Up to $10 ATM fee reimbursements
Capital One 360 Checking	$0	You prefer big banks	Early access paycheck deposit⁹ <p>Early paycheck is available for 360 Checking customers that set up direct deposit with their employer or other payor to receive electronic deposits of regular periodic payments (such as salary, pension, or government benefits). Certain non-payroll and tax payments are not eligible for early paycheck. Early direct deposits may be available to you up to 2 days earlier, however, we are dependent on the timing of your payor’s payment instructions and therefore you may not always see your direct deposits arrive early. Early paycheck eligibility may vary between pay periods and daily/transaction limits apply. </p> Fee-free cash deposit at certain retailers
Varo Bank Account	$0	You want to make cash deposits without fees	Cashback on certain purchases Early paycheck access Overdraft coverage

Editor's note

These checking accounts don't charge monthly fees, but they can charge other incidental fees for activities like ATM withdrawals and overdrafts. We've never found a bank that charges zero fees whatsoever.

*Details about Discover® Cashback Debit have been collected by FinanceBuzz editors. This information is accurate as of the date of the review and was not reviewed or approved by the issuer. FinanceBuzz does not receive commission for this product.

SoFi Checking and Savings

Best for you if you receive direct deposits

2025 award winner Best Checking and Savings Combo

5.0

SoFi Checking and Savings

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Limited-Time Offer: Earn a $50 or $300 bonus and up to 4.00% APY on Savings (3.30% APY¹with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.² FDIC Insured.⁵

Learn More

SoFi® is an FDIC-insured,⁵ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>. full-service financial provider. It's an especially good pick if you get paid regularly via direct deposit, since enrolling in SoFi Plus with eligible direct deposit unlocks the highest APY on your savings account (which you must also open with this checking account).

The APY on SoFi's checking account isn't too shabby, though, at 0.50% with direct deposit.¹⁰ Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at <a href="https://www.sofi.com/legal/banking-rate-sheet">https://www.sofi.com/legal/banking-rate-sheet</a>

Although SoFi® is generally regarded as excellent, it does suffer a bit in overall customer satisfaction. J.D. Power actually rated SoFi's checking account as just below average in 2025. It may also be a bit tougher to get help when you need it if you work strict hours since customer support is only available from 5 a.m. to 5 p.m. or 7 p.m. PST, depending on the day of the week. However, so SoFi does use Zelle, so that's a mark in its favor if you like to use that service for money transfers.

SoFi is a Member, FDIC⁵ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>. .

Pros

No monthly fees³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a>
No overdraft fees¹¹ Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at <a href="https://www.sofi.com/legal/banking-rate-sheet">https://www.sofi.com/legal/banking-rate-sheet</a>. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
Qualifying paychecks deposited up to two days early with direct deposit⁴ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Extra benefits if you receive direct deposits

Cons

No in-person branches
Must open checking and savings accounts together
No reimbursement for out-of-network ATMs

Visit SoFi Checking and Savings | Read our full SoFi Checking and Savings review

Tip

Compare the best savings accounts with debit cards

Chime® Checking

Best for you if you overdraw your balance from time to time

2025 award winner Best for Bad or No Credit

4.9

Chime®

Chime® Checking⁶ - No Monthly Fees¹² + Get paid up to 2 days early with direct deposit¹³

Checking Account. No minimum balance. FDIC Insured through The Bank Corp Bank, N.A. or Stride Bank, N.A.

Open Account

Chime was one of the first app-based fintech companies to get rid of some overdraft fees, as well as give you access to your direct-deposit paychecks up to two days earlier.¹³ Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. The mobile app has been downloaded over 10 million times on the Google Play Store alone. Its SpotMe® feature gives Chime Checking an edge over other fee-free¹⁴ Optional services and products may have fees or charges, such as outbound instant transfers, out-of-network transactions, and credit products. Learn more here. Link leads to <a href="https://www.chime.com/policies/fees-info/">chime.com/feesinfo</a> checking accounts, letting eligible customers access fee-free overdraft coverage of up to $200 to cover overdrafts in their accounts.¹⁵ SpotMe® on Credit is an optional, no interest / no fee overdraft line of credit tied to the Secured Deposit Account available to qualifying members with an active Chime Card Account. To qualify for the SpotMe on Chime Card service, you must receive $200 or more in qualifying direct deposits to your Chime® Checking Account each month and have activated your physical secured Chime Visa® Credit Card or Chime Visa® Debit Card. Qualifying members will be allowed to overdraw their Secured Deposit Account up to $20, but may later be eligible for a higher limit of up to $200 or more based on Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Chime Card Limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s or its banking partners’ discretion. Although Chime does not charge any overdraft fees for SpotMe on Chime Card, there may be out-of-network or third-party fees associated with ATM transactions and fees associated with OTC cash withdrawals. SpotMe on Chime Card won’t cover non-card transactions. <a href="https://www.chime.com/policies/" style="background-color: rgb(255, 255, 255);">SpotMe on Chime Card Terms and Conditions</a>.

In some ways, Chime and SoFi are similar. It's not a bank, so your money is actually stored with The Bancorp, N.A. or Stride Bank, N.A., two FDIC-insured institutions. You just use the Chime app or website to manage your money. You can also deposit cash fee-free at any Walgreens or Duane Reade store,⁸ Once the retailer accepts your cash, the funds will be transferred to your Chime account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade.  which is somewhat unique for an online checking account.

Pros

Get your paycheck up to two days early with direct deposit¹³ Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
Fee-free overdraft coverage of up to $200 for eligible members¹⁵ SpotMe® on Credit is an optional, no interest / no fee overdraft line of credit tied to the Secured Deposit Account available to qualifying members with an active Chime Card Account. To qualify for the SpotMe on Chime Card service, you must receive $200 or more in qualifying direct deposits to your Chime® Checking Account each month and have activated your physical secured Chime Visa® Credit Card or Chime Visa® Debit Card. Qualifying members will be allowed to overdraw their Secured Deposit Account up to $20, but may later be eligible for a higher limit of up to $200 or more based on Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Chime Card Limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s or its banking partners’ discretion. Although Chime does not charge any overdraft fees for SpotMe on Chime Card, there may be out-of-network or third-party fees associated with ATM transactions and fees associated with OTC cash withdrawals. SpotMe on Chime Card won’t cover non-card transactions. <a href="https://www.chime.com/policies/" style="background-color: rgb(255, 255, 255);">SpotMe on Chime Card Terms and Conditions</a>.
Fee-free cash deposits with certain retailers⁸ Once the retailer accepts your cash, the funds will be transferred to your Chime account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade.

Cons

Difficult to use paper check system
Low APY on savings account (Note: savings accounts are optional and you must have a Chime checking account to open a savings account)¹⁶ Chime Checking Account is required to be eligible for a Savings Account.

Visit Chime Checking | Read our full Chime review | Check out more banks like Chime

Discover Cashback Debit

Best for you if you love using your debit card

Discover is a household name thanks to its credit cards, but it actually offers a pretty spiffy suite of FDIC-insured online bank accounts as well. It doesn't have many bank accounts within each category (there's only one checking and one savings account, for example) — and while some might consider that a drawback, the truth is you won't get much better than the single checking account it offers.

Discover's Cashback Debit account is ideal for die-hard debit card users. Rather than earning interest, Discover offers 1% cash back every time you use your debit card on up to $3,000 in purchases per month for a total potential cash back of $360 per year.¹⁷ Earn 1% cash back on up to $3,000 in debit card purchases each month. See Deposit Account Agreement for details on transaction eligibility, limitations and terms. Deposit Account Agreement can be found at <a href="https://www.discover.com/content/dam/dfs/online-banking/documents/NationalDepositAccountAgreement.pdf">https://www.discover.com/content/dam/dfs/online-banking/documents/NationalDepositAccountAgreement.pdf</a>.

Pros

24/7 customer service and live chat
Qualifying paychecks may be deposited up to two days early
Excellent customer satisfaction ratings
High APY on matching savings account

Cons

No physical branches
$30 outgoing wire transfer fee
No out-of-network ATM fee reimbursement

Read our full Discover Cashback Checking review

Axos ONE

Best for you if you use ATMs a lot

5.0

Axos ONE®

Axos ONE® - Earn up to 4.31% APY

Axos ONE® offers up to a powerful 4.31% APY on savings and 0.51% APY¹⁸ The Annual Percentage Yield (APY) is accurate as of 12/01/2025. The base and promotional interest rate and corresponding APY for Axos ONE Checking is variable and is set at our discretion. The base and promotional interest rate and corresponding APY for Axos ONE Savings is variable and is set at our discretion. Axos ONE Savings is a tiered variable rate account. Axos ONE Checking is a non-tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.Promotional terms and conditions are subject to change or removal without notice. Incentive may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After the accounts are opened, the amount of incentive earned will depend on meeting the additional requirements outlined below.The Axos ONE Checking account will earn a base rate of 0.00% APY. The Axos ONE Savings account will earn a base rate of 1.00% APY.Axos ONE accounts are eligible to receive a promotional APY for each statement cycle where the promotional criteria are met during the Qualification Period. To receive the promotional APY on both Axos ONE Checking and Axos ONE Savings, the Axos ONE Checking account must meet both of the requirements in either Option 1 or Option 2 below during the Qualification Period:Option 11. Your Axos ONE Checking account has received qualifying direct deposits of at least $1,500 in total.2. The average daily balance of your Axos ONE Checking account is at least $1,500.Option 21. Your Axos ONE Checking account has received qualifying deposits of at least $5,000 in total.2. The average daily balance of your Axos ONE Checking account is at least $5,000.If both of the requirements in either Option 1 or Option 2 above are met during the Qualification Period:• The Axos ONE Checking account will earn a promotional rate of 0.51% APY for the statement cycle in which the requirements are met.• The Axos ONE Savings account will earn a promotional rate of up to 4.31% APY for the statement cycle in which the requirements are met.The Qualification Period is from the 1st of the month through the 25th of the month. The Qualification Period for new accounts will begin on the day the account is approved. Any qualifying direct deposits received after the 25th of the month will count toward the next Qualification Period. A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, Disability, etc. Other deposits (i.e., online banking transfers, ATM and mobile check deposits, etc.) or person-to-person payments are not considered a direct deposit.Qualifying deposits only include deposits from the following eligible sources: (i) ACH transfers from external accounts, (ii) inbound wire transfers from external accounts, (iii) check deposits. Qualifying deposits do not include: (i) transfers internal to the bank (i.e., transfers between an account holder’s Checking and/or Savings account), (ii) interest payments, (iii) promotional bonuses, (iv) credits, reversals, and refunds.Both accounts must be in an open and active status on the date the interest is paid to receive the promotional APY for that statement cycle. Account transactions may take one or more business days from the transaction date to post to the account. on checking to help you grow your money. No monthly maintenance, minimum balance, account opening, or overdraft fees. FDIC insured.

Learn more

Axos ONE is another bundled option that includes both checking and savings accounts,¹⁸ The Annual Percentage Yield (APY) is accurate as of 12/01/2025. The base and promotional interest rate and corresponding APY for Axos ONE Checking is variable and is set at our discretion. The base and promotional interest rate and corresponding APY for Axos ONE Savings is variable and is set at our discretion. Axos ONE Savings is a tiered variable rate account. Axos ONE Checking is a non-tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.Promotional terms and conditions are subject to change or removal without notice. Incentive may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After the accounts are opened, the amount of incentive earned will depend on meeting the additional requirements outlined below.The Axos ONE Checking account will earn a base rate of 0.00% APY. The Axos ONE Savings account will earn a base rate of 1.00% APY.Axos ONE accounts are eligible to receive a promotional APY for each statement cycle where the promotional criteria are met during the Qualification Period. To receive the promotional APY on both Axos ONE Checking and Axos ONE Savings, the Axos ONE Checking account must meet both of the requirements in either Option 1 or Option 2 below during the Qualification Period:Option 11. Your Axos ONE Checking account has received qualifying direct deposits of at least $1,500 in total.2. The average daily balance of your Axos ONE Checking account is at least $1,500.Option 21. Your Axos ONE Checking account has received qualifying deposits of at least $5,000 in total.2. The average daily balance of your Axos ONE Checking account is at least $5,000.If both of the requirements in either Option 1 or Option 2 above are met during the Qualification Period:• The Axos ONE Checking account will earn a promotional rate of 0.51% APY for the statement cycle in which the requirements are met.• The Axos ONE Savings account will earn a promotional rate of up to 4.31% APY for the statement cycle in which the requirements are met.The Qualification Period is from the 1st of the month through the 25th of the month. The Qualification Period for new accounts will begin on the day the account is approved. Any qualifying direct deposits received after the 25th of the month will count toward the next Qualification Period. A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, Disability, etc. Other deposits (i.e., online banking transfers, ATM and mobile check deposits, etc.) or person-to-person payments are not considered a direct deposit.Qualifying deposits only include deposits from the following eligible sources: (i) ACH transfers from external accounts, (ii) inbound wire transfers from external accounts, (iii) check deposits. Qualifying deposits do not include: (i) transfers internal to the bank (i.e., transfers between an account holder’s Checking and/or Savings account), (ii) interest payments, (iii) promotional bonuses, (iv) credits, reversals, and refunds.Both accounts must be in an open and active status on the date the interest is paid to receive the promotional APY for that statement cycle. Account transactions may take one or more business days from the transaction date to post to the account. similar to SoFi's Checking and Savings. It offers healthy APYs on both, but you do need to meet direct deposit requirements to earn the highest APYs.

Axos ONE also offers up to $10 in ATM fee reimbursements per month and expanded FDIC insurance. Plus, Axos Bank provides fee-free access to more than 90,000 ATMs, one of the largest networks I've seen. If you're a frequent or even infrequent ATM users, you can avoid ATM fees with this account.

If you're the type of person who's paranoid about data breaches, Axos may be a good choice. It offers plenty of cool security features, such as biometric logins.

Pros

Get paychecks two days early¹⁹ Faster access to funds is based on a comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct Deposit and earlier availability of funds are subject to payer’s support of the feature and timing of payer’s funding.
Good mobile app security tools
Customer service available 24/7

Cons

Direct deposit requirements to earn the highest APYs
Poor J.D. Power customer satisfaction ratings

Visit Axos ONE | Read our full Axos Bank review

Capital One 360 Checking

Best for you if you prefer big banks

2025 award winner Best Overall Checking Account

4.9

CapitalOne 360 Checking

CapitalOne 360 Checking — Earn a $250 bonus

Earn a $250 bonus with fee-free 360 Checking. No fees, no minimums, no overdraft fees. Terms Apply.²⁰

Learn More

In 2025, Capital One ranked just above average in customer satisfaction. Still, there's a lot to like about these low-fee accounts. It's one of few big banks with free checking and no minimum balance that operates mostly online. It does run some physical branches, though they're relatively limited with just 278 locations around the country.

Capital One 360 Checking is a good choice if you want to be extra safe, as the company offers several tools, such as biometric logins and the ability to lock your debit card from further spending within the app in case you lose it or it's stolen. Capital One also made our list of the best banks for shared accounts, especially if you're banking with a teen. Capital One is FDIC-insured.

Pros

Ability to lock debit card from spending
Can use paper checks with this account
Deposit cash at any CVS, Duane Reade, or Walgreens

Cons

No ATM fee reimbursements
Fees ranging from $10 to $30 for various banking activities

Visit Capital One 360 Checking | Read our full Capital One 360 review

Varo Bank Account

Best for you if you want to make cash deposits without fees

Varo Bank offers many of the same perks as our other top fee-free banks, including the less-common option to deposit cash. Unlike some other banks on this list, Varo will let you make a cash deposit at more retail locations, including Green Dot retailers. But if we were you, we'd stick with CVS locations — non-CVS deposits may cost you $4.95 per transaction, though this can be worth paying when you're in a pinch.

Other nice perks about Varo are its cashback program and its free overdraft service that offers to spot you up to $500 if you run your account in the red. Again, there are catches here, too. Varo only offers cashback with certain retailers, but it doesn't tell you how much or who qualifies without having access to the app. And you don't get access to the full $500 in overdraft coverage right away — you need to gradually build up to that max mark.

Pros

Up to two days early paycheck deposit for qualifying direct deposits²¹ Early access to direct deposit funds depends on timing of the payer’s submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer’s scheduled payment date.
Offers cashback on some purchases
Offers VantageScore credit score updates

Cons

Poor customer satisfaction ratings
Doesn't provide much info on cashback program

Read our full Varo Bank review | Check out Banks Like Varo

How to choose a bank account without monthly fees or minimums

The best banks have no minimum balances or monthly fees on their checking accounts, and they all have a few features in common besides. Here's how to wade through all the different banking options out there and find the best free checking account for you:

Read customer reviews online from Trustpilot, Yelp, Google, Reddit, and other platforms to get an idea of service quality and reputation.
Check recent complaints listed with the Better Business Bureau and the CFPB Complaint Database.
Check out the bank's mobile app or online account offerings.
Look for the bank's "fee schedule" of other charges you might have to pay, such as ATM fees.
Find out what options you'll have for cash access, specifically paper checks if you think you'll ever need them (these aren't standard-issue for online free checking accounts).
Consider how many ATMs are in the bank's network.

Banks with the most ATMs

To help you make an informed decision, we rounded up the banks with the most ATMs.

Looking for one of your first bank accounts?

Check out the best banks for young adults, which includes a few options that will be familiar from this list of no-monthly-fee options.

4.3

Enjoy $300 as a new Chase checking customer

When you open a new Chase Total Checking® account with qualifying activities.²² FDIC Insured. Offer valid through 1/21/2026.

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4.6

Use Cash App As Your All-in-One Financial Services Platform

Bank²³ without all the fees—save, send, and spend your money the way you want.²⁴ Get paid up to 2 days early – up to 2 days earlier than most banks²⁵

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5.0

2025 award winner Best Checking and Savings Combo

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

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FAQs

What bank offers a bonus for opening an account?

Many banks, such as Chase and Axos Bank, frequently offer sign-up bonuses on new checking accounts. These offers are for a limited time only and are constantly changing, so you'll need to do a quick search to see what's currently being offered when you're ready to apply.

Are there any banks that don't require a minimum balance?

Yes, many banks offer at least one basic checking account with no minimum balance requirement. It may be easier to find a checking account with no minimum balance at an online bank, such as Ally Bank, Capital One, or Discover Bank.

What are the easiest banks to open an account with?

It's usually very easy to open a checking account with most online banks such as Ally Bank, Capital One, or Discover Bank. All banks are required to verify your identity in the U.S., and they do this in various ways (such as by scanning or taking a photo of your official government I.D.).

Bottom line

You have many options when it comes to bank accounts with no monthly fees and no minimum balance. But it's not as if you're going to open multiple bank accounts right now.

To find the best free checking account for you, make a list of your priorities by considering what you think has been missing from your current or past bank accounts. Then, make sure fees and minimums are also missing from any accounts you compare by paying attention to fee schedules and account terms. Avoiding banking fees and rules is worth spending the time comparing.

Methodology

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5.0

2025 award winner Best Checking and Savings Combo

High APY of up to 4.00% on Savings (3.30% APY¹ with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.²

Paycheck access up to 2 days early with direct deposit⁴

No monthly maintenance or overdraft fees³

Streamlined savings and savings goals with Vaults

Access to a large ATM network²⁶