7 Best Checking Accounts With No Monthly Fees [2026]
Some of the best checking accounts with no monthly maintenance fees are from online banks and financial technology companies, but you can also find great options with in-person branches near you.
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The best checking accounts will always be checking accounts with no monthly fees if you ask us. But not every institution has gotten the memo that consumers prefer their banks with no monthly fees, and there are plenty out there – including some otherwise solid ones – with maintenance fees and hoops to jump through to avoid them.
Not here. We've analyzed the top checking accounts available today to find the best-of-the-best in the no monthly fee bank accounts category. So if you prefer to do your banking with no monthly fees too, these accounts stand out not only for having no monthly service fees but also for offering more perks and convenience than the average bank account.
Learn more about why we chose each no-monthly-fee checking account and which might be right for you.
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
Up to $300New 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 12/31/2026. 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 http://www.sofi.com/legal/banking-rate-sheet.
Minimum Opening Balance
$0
Monthly Fee
$0
Why We Like It
Earn a $50 or $300 bonus with eligible direct deposit1 <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 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. 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> and up to 4.00% APY2 <p>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 3/30/2026. 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.</p> on your money
Limited-Time Offer: +0.70% Boost on Savings APY to up to 4.00% for up to 6 months on new accounts. Terms apply.2 <p>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 3/30/2026. 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.</p>
No account, overdraft, or monthly fees3 <p>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></p>
Get your paycheck up to two days early 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>
Access additional FDIC insurance up to $3 million5 <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;">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>.</b></p>
Fee-free overdrafts6 <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p>
No checking account is truly fee-free, although you might see bank accounts with no monthly maintenance fees referred to as "free" or "no-fee." No matter what checking account you choose, you may be charged fees for certain activities, such as making wire transfers or stopping payment on a check.
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
Up to $300New 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 12/31/2026. 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 http://www.sofi.com/legal/banking-rate-sheet.
Minimum Opening Balance
$0
Monthly Fee
$0
Why We Like It
Limited-Time Offer: Earn a $50 or $300 bonus with eligible direct deposit and up to 4.00% APY on Savings (3.30% APY1 <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 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. 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> with +0.70% APY Boost) for up to 6 months on new accounts. Terms Apply.2 <p>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 3/30/2026. 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.</p>
No account, overdraft, or monthly fees3 <p>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></p>
Get your paycheck up to two days early 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>
Access additional FDIC insurance up to $3 million5 <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;">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>.</b></p>
FDIC Insurance: SoFi is a Member, FDIC (Cert. #26881)5 <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;">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>.</b></p>
ATMs: 55,000+ fee-free ATMs within the Allpoint® Network7 <p>We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.</p>
APY: 0.50% with direct deposit8 <p>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></p> on checking balances
Online personal finance company SoFi's one and only bank account, SoFi Checking and Savings, has a $0 monthly maintenance fee3 <p>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></p> and stands out from the other picks here because it's a two-in-one checking and savings account. We chose it for anyone looking to avoid many common banking fees, since SoFi doesn't have monthly fees or fees for most account activities.3 <p>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></p> In many cases, you won't pay ATM fees,7 <p>We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.</p> overdraft fees,9 <p>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.</p> stop payment fees, or most transfer fees. One of the only things you might be charged for, and this is unlikely to come up often, is for domestic outgoing wires.
And not only will SoFi not shrink your balance with pesky charges, but your money can also grow. The account earns up to 3.30% APY8 <p>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></p> on savings with direct deposit and 0.50% APY on checking with direct deposit. Without direct deposit linked, the account earns 1.00% (as of 12/23/25) APY on savings balances, which is not especially competitive when some of the best savings accounts offer 4.00% APY or more.
However, that checking APY stays the same regardless of your activity. Plus, any monthly direct deposit activity counts — you don't have to meet a certain minimum.
We wouldn't recommend this to you if you couldn't link direct deposit or needed to make cash deposits, but it's a great online checking account with few fees.
Pros
Debit card roundups for automatic saving
Paycheck available up to two days early 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>
Overdraft coverage up to $50 (with eligible direct deposit)9 <p>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.</p>
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
Learn Moreon Chime's secure website, The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC
Bonus Offer
N/A
Minimum Opening Balance
$0
Monthly Fee
$0
Why We Like It
No minimum balance, no monthly service fees6 <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p>
Get your paycheck up to 2 days earlier with direct deposit10 <p> 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.</p>
Eligible Members can access fee-free overdraft up to $20011 <p>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.</p><br>
<p>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>.</p>
50K+ fee-free ATMs nationwide12 <p>Out-of-network ATM withdrawal and over the counter advance fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.</p>
Automatic savings helps you grow your money faster13 <p>You can automatically transfer part of your direct deposits of $1 or more from your Checking Account into your selected Chime account(s).</p>
Learn Moreon Chime's secure website, The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC
Product details
Minimum opening deposit: $0
FDIC Insurance: Chime is partnered with The Bancorp Bank, N.A. (Cert. #35444) and Stride Bank, N.A. (Cert. #4091)
ATMs: 50,000+ fee-free ATMs12 <p>Out-of-network ATM withdrawal and over the counter advance fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.</p>
APY: None
Chime® is a popular fintech company that offers online bank accounts that regularly stand out for having more features and benefits — with fewer annoying restrictions — than its competitors. The Chime® Checking account is one of the best checking accounts for avoiding monthly fees as well as overdraft fees, even if you overdraw your balance.6 <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p> The account has a noteworthy feature called SpotMe® that lets you access up to $200 in fee-free overdrafts, depending on your eligibility.11 <p>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.</p><br>
<p>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>.</p>
What's more, MyPay®14 <p>MyPay® line of credit provided by The Bancorp Bank, N.A. or Stride Bank, N.A. MyPay services provided by Chime Capital, LLC (NMLS 2316451).</p>
<p>To be eligible for MyPay, you must receive qualifying direct deposits to your Chime Checking Account as set forth in the MyPay Agreement. A qualifying direct deposit is a deposit from an employer, payroll provider, gig economy payer, government benefits payer, or other permitted source of income by Automated Clearing House (“ACH”) or Original Credit Transaction (“OCT”). Your MyPay Credit Limit and Maximum Available Advance may change at any time. MyPay is a line of credit and available limits are based on estimated income and risk-based criteria. Eligible members may be offered a $20 - $500 Credit Limit per pay period. Your Credit Limit and Maximum Available Advance will be displayed to you within the Chime app. MyPay is currently only available to eligible Chime members in certain states. Other restrictions may apply. Other restrictions may apply. See <a href="https://www.chime.com/policies/bancorp/mypay/">Bancorp MyPay Agreement</a> or <a href="https://www.chime.com/early-pay/mypay/">Stride MyPay Agreement</a> for details.</p> is a cash advance feature you may be able to use if you need to access part of your paycheck early. It isn't available in every state, but you may be able to access between $20 and $500 each pay period, depending on your financial profile. However, as is the case with SoFi, the catch is that you'll need qualifying direct deposits coming into this account every month to be eligible for either of these perks to help you make it to your next payday.
Chime® also lets you deposit cash fee-free at any Walgreens or Duane Reade location.15 <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> Cash deposits are somewhat rare for an online bank.
Pros
Fee-free overdraft up to $200 for eligible members via SpotMe®
Paycheck available up to two days early with direct deposit10 <p> 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.</p>
FDIC Insurance: Capital One, National Association is a Member FDIC (Cert. #4297)
ATMs: 70,000+ fee-free ATMs
APY: Up to 0.10% (as of 09/15/25)
If you're looking for any type of bank account with almost no fees, start with Capital One 360. The bank's built a lot of its benefits (and advertising) around the fact that it charges very few banking fees, and it offers a variety of free bank accounts with perks to make your life easier, like early direct deposit and the ability to make cash deposits. We chose Capital One 360 Checking for this list because it offers a strong set of features and one of the best banking apps.But rather than open it on its own, we think it's even better if you're looking to open multiple accounts with a bank that doesn't charge a lot of fees. Capital One 360 Performance Savings earns a competitive 3.40% APY (as of 10/01/25)16 <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> .
Capital One would also be our pick for bank accounts for kids and teens, since it offers joint bank accounts for teen checking and kids' savings.
Capital One 360 is often compared to Ally and SoFi because there's a lot of overlap in benefits and lack of fees. But unlike Ally and SoFi, Capital One 360 has a branch network, albeit a limited one. It has 265 scattered in-person branches across nine states, and you're in luck if you're around Virginia, New York, or that general region.
Pros
Permits cash deposits
You could get paid up to two days early with eligible direct deposit
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
Learn Moreon KeyBank's secure website, Member FDIC
Bonus Offer
$300Open a Key Smart Checking® account online by May 22, 2026. Make the minimum opening deposit of $10 and a total of $2,000 or more in eligible direct deposits within the first 90 days of account opening. Your $300 cash bonus will be deposited into your account within 60 days of meeting requirements. Account must not be closed at the time of gift payment.
Minimum Opening Balance
$10
Monthly Fee
$0
Why We Like It
Earn $300 with Key Smart Checking® with qualifying activities17 <p>Open a Key Smart Checking® account online by May 22, 2026. Make the minimum opening deposit of $10 and a total of $2,000 or more in eligible direct deposits within the first 90 days of account opening. Your $300 cash bonus will be deposited into your account within 60 days of meeting requirements. Account must not be closed at the time of gift payment.</p>
Use EasyUp® to build up savings or pay down debt without even thinking about it
With Relationships Benefits, earn higher interest rates, more cashback, loan discounts and more — it all starts with a KeyBank checking account
You could get paid up to two days early with eligible direct deposit
Learn Moreon KeyBank's secure website, Member FDIC
Product details
Minimum opening deposit: $10
FDIC Insurance: KeyBank National Association is a Member FDIC (Cert. #17534)
ATMs: 40,000 KeyBank and Allpoint ATMs
APY: None
If you haven't liked any of the options on this list so far because you're not into fully digital banking, you might prefer this no-monthly-maintenance-fee checking account from KeyBank. You'll be able to get help with your account in person if you live near a branch.
KeyBank has branches in 15 states, including:
Alaska
Colorado
Connecticut
Idaho
Indiana
Maine
Massachusetts
Michigan
New York
Ohio
Oregon
Pennsylvania
Utah
Vermont
Washington
The Key Smart Checking Account is one of the only bank accounts like it from a traditional brick-and-mortar bank because it doesn't have a monthly service fee you have to avoid. A lot of big banks, including those from Chase, Bank of America, Citi, and Wells Fargo, only offer everyday banking options that come with monthly maintenance fees. These are almost always waivable, but you usually have to meet deposit or balance requirements to waive them, and that's a whole hassle compared to an account that just has none to begin with.
Even if you don't live near a branch, we think this is one of the best no-monthly-maintenance-fee checking options for anyone looking for or full-service banking. KeyBank offers a host of bank accounts, with five different checking products alone, plus savings accounts, loans, insurance, and more.
Pros
Branches in 15 states
You could get paid up to two days early with eligible direct deposit
FDIC Insurance: Ally Bank is a Member FDIC (Cert. #57803)
ATMs: 75,000+ fee-free ATMs
APY: 0.10% (as of 10/01/25) on balances under $15,000
Ally deserves at least a moment of your attention if you're into the idea of digital banking, especially if you're on a saving and budgeting journey. The Ally Spending Account may not be the official originator of monthly-fee-free checking, but its account certainly helped to put a spotlight on this. Today, it stands out more for the way it supports your budgeting and savings goals.
The Ally banking app lets you manage your money from a big-picture perspective, unlike many apps. You can set buckets for your budgeting to make sure you have enough money to spend on different purposes, and it'll give you a detailed breakdown of how you spend (which isn't something all banking apps provide). And if you have an Ally Savings Account, and you should if you open a checking account, you can track your savings goals and set up automations to help you save more.
Ally Bank is more transparent with its banking service fees than many online banks are, which is a good thing. What's not a good thing is that you'll pay $15 for stop payments, $14.95 for overnight bill pay, and $9.95 for same-day bill pay. This isn't all the fees the bank charges, but they're the most important. Although you probably won't need to stop payment on checks very often, if ever, it's worth noting that many online banks, such as Capital One 360, don't charge fees for this. And although it's great that Ally gives you the option to send electronic bill payments more quickly, fees for this service are high (although not uncommonly so).
Pros
High customer satisfaction ratings with many independent research bodies, including J.D. Power
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
Learn Moreon Alliant's secure website, Insured by NCUA
Bonus Offer
N/A
Minimum Opening Balance
$0There is no minimum balance requirement to maintain a High-Rate Checking account. However, there is a minimum opening deposit requirement of $25 for new and existing Alliant members that open a High-Rate Checking account online via open.alliantcreditunion.com, and for new Alliant members that open a High-Rate Checking account by telephone (see the Truth-in-Savings Disclosure Chart in the Account Agreement and Disclosures for more information regarding minimum opening deposit requirements). Any funds that are deposited at account opening to satisfy a minimum opening deposit requirement may be withdrawn at any time. High-Rate Checking accounts that are opened via a paper application, online banking, or in connection with obtaining an Alliant loan (whether originated directly by Alliant or through an indirect lending channel) do not have a minimum opening deposit requirement.
Monthly Fee
$0
Why We Like It
Earn 0.25% APY18 <p>APY=Annual Percentage Yield. The High Rate Checking Dividend provides an Annual Percentage Yield (APY) of 0.25% APY. The APY is accurate as of the 6/26/2025 dividend declaration date. Checking dividend may change after account is opened and is subject to change at any time. There is no minimum balance requirement to earn the stated APY. Checking Dividends are paid on the last day of each month to checking accountholders who have opted out of receiving paper statements (receive eStatements only) and have a recurring monthly electronic deposit to their Alliant checking account each month (e.g., a direct deposit, payroll deposit, ATM deposit, mobile check deposit or transfer from another financial institution). Otherwise, Alliant checking accounts do not earn a dividend. Alliant checking charges no monthly maintenance or service fees; however, if incurred, other fees may reduce earnings on the account. Please refer to the Alliant <a href="https://www.alliantcreditunion.org/images/uploads/files/FeeSchedule.pdf">Fee Schedule</a> for a list of these types of fees. Dividend applies to Checking and Teen Checking Accounts. Account is subject to approval. We may not open checking for you if you do not meet Alliant criteria.</p> by opting into eStatements and receiving at least one monthly electronic deposit into your account
No monthly service or overdraft fees19 <p>Overdraft protection is optional. You must opt in to benefit from this free service and you can unenroll at any time. Alliant's overdraft protection program honors your overdrafts on your checking account when you don't have enough money in your Alliant checking account to cover a transaction, provided you have enough money in your Alliant Savings or Supplemental Savings Account. To do so, we automatically transfer funds from your Alliant Savings or Supplemental Savings Account to your Alliant checking account to cover your overdrafts. Overdraft protection does not cover ATM transactions.</p><p>Courtesy Pay is a discretionary "courtesy" overdraft service. There is no fee to enroll in or use the Courtesy Pay service and you can unenroll at any time. To be eligible for Courtesy Pay, members must be in good standing and have an Alliant checking account that has been open for at least six months. Other eligibility factors are risk-based and determined by Alliant using internal and confidential information, including your account history. To qualify to use Courtesy Pay, eligible members must have qualifying deposits totaling at least $600 into their Alliant checking account in the previous 30 days. Standard Courtesy Pay may pay checks and ACH electronic items that would not have not cleared otherwise due to insufficient funds, up to an approved limit. The full amount of the overdraft balance will be due immediately but in no event more than 30 days from the date of the occurrence at which time Courtesy Pay privileges will be suspended and possibly terminated. If you opt in for extended coverage, Courtesy Pay may also cover everyday debit transactions on your Alliant Visa debit card that would not have cleared otherwise due to insufficient funds, up to an approved limit. See the Alliant Account Agreement and Disclosures and the Courtesy Pay Disclosure for details and the Fee Schedule for a list of fees. Courtesy Pay does not cover ATM transactions.</p> and no monthly minimum balance requirement20 <p>There is no minimum balance requirement to maintain a High-Rate Checking account. However, there is a minimum opening deposit requirement of $25 for new and existing Alliant members that open a High-Rate Checking account online via open.alliantcreditunion.com, and for new Alliant members that open a High-Rate Checking account by telephone (see the Truth-in-Savings Disclosure Chart in the <a href="https://www.alliantcreditunion.org/images/uploads/files/AccountAgreementAndDisclosures.pdf">Account Agreement and Disclosures</a> for more information regarding minimum opening deposit requirements). Any funds that are deposited at account opening to satisfy a minimum opening deposit requirement may be withdrawn at any time. High-Rate Checking accounts that are opened via a paper application, online banking, or in connection with obtaining an Alliant loan (whether originated directly by Alliant or through an indirect lending channel) do not have a minimum opening deposit requirement.</p>
Access to 80,000 fee-free ATMs21 <p>Transactions performed at other ATMs may be subject to the ATM owner’s surcharge fee. Please see the online ATM Locator at <a href="https://www.alliantcreditunion.org/">www.alliantcreditunion.com</a> or our mobile banking app for a list of ATMs that accept deposits or are fee free. Not all ATMs accept deposits.</p> plus up to $20/month in ATM fee rebates for out-of-network ATMs22 <p>Alliant will rebate ATM fees up to $20 per month per membership account when you use your Alliant checking account Visa debit card to make a deposit, withdrawal, transfer or balance inquiry. The rebate does not apply to cash advances from Alliant Visa credit cards through ATMs nor to the Alliant Savings ATM Card and Visa International Service Assessment (ISA) fee, referenced as the foreign transaction fee on account statements. Not all ATMs accept deposits.</p>
Get your paycheck up to 2 days early with Early Payday23 <p>With Early Payday, Alliant Credit Union may make incoming electronic direct deposits made through the Automated Clearing House (ACH) available for use up to two days before the scheduled payment date. Not all direct deposits are eligible for Early Payday. Early availability of direct deposits is not guaranteed and may vary from deposit to deposit. Early access to funds is dependent on submission of direct deposit by payor and standard fraud prevention restrictions. Whether we make funds available early depends on when we receive the payor’s payment instructions, any limitations we set on the amount of early availability, and standard fraud prevention screening. Available for personal accounts only. Eligible direct deposits are limited to electronic direct deposits of items such as your payroll, pension, and government benefit payments made through the Automated Clearing House (ACH) to your personal account. Other deposits or credits to your account, such as deposits of funds from person-to-person payment services (e.g., Zelle®, Venmo, or PayPal transfers), check or mobile deposits, and other online transfers or electronic credits are not eligible for Early Payday.</p>
<p>If Alliant makes funds available early through Early Payday and the payor reverses or requests a return of the deposit, or the funds are otherwise uncollected by Alliant, Alliant may debit your account for the deposit amount previously made available early, which may draw your account negative.</p>
Deposits are federally insured up to $250,000 by the NCUA
Learn Moreon Alliant's secure website, Insured by NCUA
Product details
Minimum opening deposit: $25
APY: 0.25%18 <p>APY=Annual Percentage Yield. The High Rate Checking Dividend provides an Annual Percentage Yield (APY) of 0.25% APY. The APY is accurate as of the 6/26/2025 dividend declaration date. Checking dividend may change after account is opened and is subject to change at any time. There is no minimum balance requirement to earn the stated APY. Checking Dividends are paid on the last day of each month to checking accountholders who have opted out of receiving paper statements (receive eStatements only) and have a recurring monthly electronic deposit to their Alliant checking account each month (e.g., a direct deposit, payroll deposit, ATM deposit, mobile check deposit or transfer from another financial institution). Otherwise, Alliant checking accounts do not earn a dividend. Alliant checking charges no monthly maintenance or service fees; however, if incurred, other fees may reduce earnings on the account. Please refer to the Alliant <a href="https://www.alliantcreditunion.org/images/uploads/files/FeeSchedule.pdf">Fee Schedule</a> for a list of these types of fees. Dividend applies to Checking and Teen Checking Accounts. Account is subject to approval. We may not open checking for you if you do not meet Alliant criteria.</p>
NCUA Insurance: Alliant Credit Union is a Member NCUA (Cert. #67955)
ATMs: 80,000+ fee-free ATMs21 <p>Transactions performed at other ATMs may be subject to the ATM owner’s surcharge fee. Please see the online ATM Locator at <a href="https://www.alliantcreditunion.org/">www.alliantcreditunion.com</a> or our mobile banking app for a list of ATMs that accept deposits or are fee free. Not all ATMs accept deposits.</p>
Alliant Credit Union is one of those credit unions anyone can join, which automatically makes us like it a whole lot more. Add to that the fact that the institution has a giant ATM network and wants to give you money when you use other networks' ATMs, and you've got a very solid checking account.
Alliant High-Rate Checking doesn't stand out for not having monthly service fees. As you've seen, this is pretty common these days. It stands out for not charging many other banking fees24 <p>Alliant checking charges no monthly maintenance or service fees. Please refer to the Alliant <a href="https://www.alliantcreditunion.org/images/uploads/files/FeeSchedule.pdf">Fee Schedule</a> for a list of fees.</p> , including ATM fees, and offering up to $20 per month in ATM reimbursements when you use out-of-network terminals.22 <p>Alliant will rebate ATM fees up to $20 per month per membership account when you use your Alliant checking account Visa debit card to make a deposit, withdrawal, transfer or balance inquiry. The rebate does not apply to cash advances from Alliant Visa credit cards through ATMs nor to the Alliant Savings ATM Card and Visa International Service Assessment (ISA) fee, referenced as the foreign transaction fee on account statements. Not all ATMs accept deposits.</p> That's a hefty monthly reimbursement compared to other accounts with this feature, and it makes Alliant an excellent choice if you find yourself needing to withdraw or deposit cash fairly often (just note that not all ATMs accept cash deposits).
But there's no two ways about it: Calling this account "high-rate" is a little misleading. Sure, 0.25% APY is better than the 0% APY most checking accounts earn, but it's a fraction of what you'd earn with a half-decent high-yield savings account. That said, joining Alliant requires you to open a High-Rate Savings Account anyway, so you can move any money you're not going to use right now to that account to earn 3.01% (as of 02/02/26) APY.
Pros
$20 in monthly out-of-network ATM fee rebates
Could receive your paycheck up to two days early23 <p>With Early Payday, Alliant Credit Union may make incoming electronic direct deposits made through the Automated Clearing House (ACH) available for use up to two days before the scheduled payment date. Not all direct deposits are eligible for Early Payday. Early availability of direct deposits is not guaranteed and may vary from deposit to deposit. Early access to funds is dependent on submission of direct deposit by payor and standard fraud prevention restrictions. Whether we make funds available early depends on when we receive the payor’s payment instructions, any limitations we set on the amount of early availability, and standard fraud prevention screening. Available for personal accounts only. Eligible direct deposits are limited to electronic direct deposits of items such as your payroll, pension, and government benefit payments made through the Automated Clearing House (ACH) to your personal account. Other deposits or credits to your account, such as deposits of funds from person-to-person payment services (e.g., Zelle®, Venmo, or PayPal transfers), check or mobile deposits, and other online transfers or electronic credits are not eligible for Early Payday.</p>
<p>If Alliant makes funds available early through Early Payday and the payor reverses or requests a return of the deposit, or the funds are otherwise uncollected by Alliant, Alliant may debit your account for the deposit amount previously made available early, which may draw your account negative.</p>
Alliant offers solid savings accounts
Cons
Low interest rate compared to the best interest checking accounts
Below-average rating in J.D. Power 2025 U.S. Credit Union Satisfaction Study
Subpar overdraft coverage compared to many online institutions/companies
FDIC Insurance: Axos Bank is a Member FDIC (Cert. #35546)
ATMs: 91,000+ fee-free ATMs
The online Axos Rewards Checking account has a $0 monthly maintenance fee and enables you to earn an APY of up to 3.30% with qualifying activities. As far as interest checking accounts go, this is about as impressive as they come. We like SoFi Checking and Savings for earning a high yield on any money in your bank account, but if you want to maximize the yield on your checking balance specifically, choose Axos.
That said, we want to stress that the requirements to unlock the highest rate possible are significant. For one, there's a monthly direct deposit requirement of at least $1,500 just to begin earning interest. From there, you can earn additional interest by having at least $2,500 in an Axos self-directed investing account, at least $2,500 in a managed investing account, making at least 10 monthly debit card purchases, and more. Because of this, we'd really only recommend this account if you could meet that direct deposit minimum easily and plan to open many accounts with Axos.
Editor's note
We were torn between calling this the best account for earning interest and the best account for ATM access. Really, it's both. With unlimited reimbursements on out-of-network ATM transactions, this would also be our pick for anyone who needs to keep cash on hand.
Checking accounts that don't charge monthly maintenance fees just for having an account are often called free checking accounts or bank accounts.
The term "free checking" doesn't include accounts with waivable monthly service fees, because these are only fee-free if you meet the requirements to waive charges.
How to choose the best checking accounts with no monthly fees
If you're looking to do your checking with no monthly fee, each of these checking accounts offers different benefits and perks. That makes each one better suited for some people but not for others. As you shop around for the best checking accounts, here are a few factors to consider.
Do you use cash a lot? Look for an account with cash deposit options.
Are you banking with a partner? If so, choose a joint checking account option.
Do you get FDIC insurance? Banks that are member-FDIC provide protection for your money balance.
Will you need to borrow money in the future? Some banks and fintech companies offer personal loans and may give you discounts on your loan if you're already a client.
Do you work for an employer or receive benefits? Many checking accounts have perks and features that are only available with direct deposits.
What other fees does the bank charge? Checking accounts with no monthly fees typically mean that these accounts don't charge monthly maintenance fees. However, no account is completely free. Work with the best banks and make sure to review their fees.
Is the process pain-free? If the process to open an account is easy and smooth, that's typically a good sign. That can often signal that the experience of using that bank's other products will be a painless process.
We also surveyed bank customers to determine what's important when choosing a bank. Here's what they said.
5.0
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
AWARD WINNERBest Online Checking
SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit
Limited-Time Offer: Earn a $50 or $300 bonus with eligible direct deposit and up to 4.00% APY on Savings (3.30% APY1 <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 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. 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> with +0.70% APY Boost) for up to 6 Months on new accounts. Terms Apply.2 <p>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 3/30/2026. 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.</p> FDIC Insured.5 <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;">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>.</b></p>
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
Bank of America Advantage Banking
Up to $500 cash offer. Click ‘Learn More' for more details. Bank of America, N.A. Member FDIC.
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
Enjoy $400 as a new Chase checking customer
When you open a new Chase Total Checking® account with qualifying activities.25 <p>Offer not available to existing Chase checking customers, or those whose accounts have been closed within 90 days or closed with a negative balance within the last 3 years. You can receive only one new checking account opening related bonus every two years from the last coupon enrollment date and only one bonus per account. Coupon is good for one-time use. To receive the bonus: 1) Open a new Chase Total Checking account, which is subject to approval; AND 2) Have your direct deposits totaling $1,000 or more made to this account within 90 days of coupon enrollment. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Person to Person payments (such as Zelle®) are not considered a direct deposit. Micro-deposits do not qualify as a direct deposit for the bonus. Micro-deposits are small deposits, typically less than $1, that are sent to your account to verify it is the correct account. After you have completed all the above requirements, we'll deposit the bonus in your new account within 15 days. To receive this bonus, the enrolled account must not be closed or restricted at the time of payout. Eligibility may be limited based on account ownership. Bonus is considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable). Offer availability subject to change. Other Chase checking bonus offers may exist concurrently.</p> FDIC Insured. Offer valid through 4/15/2026.
What's the downside of checking accounts with no monthly fees?
Checking accounts with no monthly fees may have certain limitations, such as offering lower interest rates or providing fewer fee-free ATM withdrawals compared to premium accounts. And some banks with no fees for checking accounts have no physical branches. Credit unions may offer checking accounts with no monthly fees that don't have some of these downsides, for example, by having physical branches.
Are checking accounts with no monthly fees really free?
Some accounts with no monthly fees, whether checking or savings, are typically offered by online banks that don't charge monthly service fees, but they may not be entirely without costs. For example, fees may still include certain services such as paper statements, wire transfers, out-of-network ATM usage, overdrafts, and paper checks.
What's the difference between a checking account and a savings account?
Both checking and savings are deposit accounts. However, a checking account holds cash for everyday spending, while a savings account is meant to help you with your budgeting goals by storing your money long-term. Checking accounts typically offer zero or little interest. Savings accounts, on the other hand, typically earn more interest but may have limitations on the number of withdrawals allowed per month.
Bottom line
If you're looking for a bank account with no monthly fee, many of the accounts we've featured here go one step further than just not having a monthly maintenance fee.
SoFi, Chime, Discover, KeyBank, and Axos all have checking accounts worth opening, but one might be better for you depending on the key feature you need in an everyday bank account. For instance, if you want to grow your money, including your savings, SoFi is a good place to do that. But for some of the best overdraft coverage, Chime is our pick. You can also find some high-interest checking accounts that don't have monthly account fees.
Be sure to dig into the account details to find the best bank accounts with no monthly fees for your needs. While not having monthly service fees is helpful, be sure the account you choose has the features most important to you, such as early pay access.
Methodology
How we rate products
To identify the best free checking accounts, we first compiled a list of checking accounts without monthly fees. These are easy to find today, and no accounts with monthly service fees, waivable or not, were included in our research or are featured on our list. We then looked at factors such as:
Minimum deposit and balance requirements
Other banking fees such as ATM and overdraft fees
Accessibility
Customer experience
Mobile apps
APYs
Next, we evaluated each account based on the factors and chose accounts that would appeal to the most readers and offer the best blend of value and features. We chose not to feature some accounts that performed well in our research if they were not unique compared to the others on this list, and we tried to feature different options for customers with varying needs.
This list is not ranked in a particular order, and we did not research all available fee-free checking accounts.
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment.
Our partners do not influence our ratings.
AWARD WINNERBest Online Checking
High APY of up to 4.00% on Savings (3.30% APY1 <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 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. 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> with +0.70% APY Boost) for up to 6 Months on new accounts. Terms Apply.2 <p>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 3/30/2026. 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.</p>
Paycheck access up to 2 days early 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>
No monthly maintenance or overdraft fees3 <p>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></p>
Streamlined savings and savings goals with Vaults
Access to a large ATM network7 <p>We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.</p>
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The FinanceBuzz editorial team strives to provide accurate, in-depth information and reviews to help you, our reader, make financial decisions with confidence. Here's what you can expect from us:
FinanceBuzz makes money when you click the links on our site to some of the products and offers that we mention. These partnerships do not influence our opinions or recommendations.
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