Banking Checking Accounts

Checkless Banking: Is it Right for You?

Checkless banking offers all the benefits of regular checking accounts minus paper checks. Learn who it's best for and why.

By Lindsay VanSomeren

Edited by Melinda Sineriz, ABFP™

Updated Dec. 26, 2024

Many people struggle with checking accounts. Without one, it's difficult to conduct financial affairs safely, yet millions of Americans aren't able to get approved for one due to past issues in their banking history.

The good news is that checkless banking is becoming more widely available and can help solve these problems. Best of all, they're real checking accounts with all of the features you'd get with a traditional one — minus the ability to overdraft your account or write paper checks. Learn more to see how checkless banking works and whether it could help you.

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 4.30% 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 3.60% 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 3.60% 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 11/12/25. 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 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) 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

In this article

Key takeaways
What is a checkless checking account?
Who is a checkless checking account right for?
Who is a checkless checking account wrong for?
Top checkless checking accounts
FAQ
Checkless banking: bottom line

Key takeaways

Checkless banking works just like a traditional checking account but without the ability to write paper checks or overdraft your account.
Checkless banking is a second-chance checking account that may be easier for you to get if you can't get approved for a regular checking account.
You can still deposit paper checks, use a debit card, and transfer money in all of the same ways as normal — you just can't use paper checks.

What is a checkless checking account?

As the name implies, a "checkless checking account" is a type of checking account that doesn't allow you to write paper checks. Instead, if you need to make a purchase, you use a debit card, get cash from an ATM or bank teller, use a cash transfer app such as Zelle, or submit a digital ACH or wire transfer request.

Most checkless bank accounts also don't allow overdrafts. If you try to pay for something and you don't have the cash in your account, the payment will be declined as "non-sufficient funds." They may also be more pared down than other checking accounts offered at the best banks. For example, they may not offer interest or rewards on your spending.

In general, checkless banking offers a no-frills way to manage your financial transactions without the ability to overdraft your account or use paper checks. Those factors also make checkless banking better for some people. We'll dive into below to show you how.

Checkless vs. traditional checking

Checkless checking	Traditional checking
Doesn't allow overdrafts Bare-bones account with fewer features May be able to open with a negative banking history Can't write paper checks, but can deposit them	Can opt-in to allow overdrafts May offer interest or come with special features May be denied an account if you have a negative banking history Can write and deposit paper checks

Who is a checkless checking account right for?

Checkless banking is generally best for a few different groups of people.

Teenagers
Chronic overspenders
People who've been denied traditional bank accounts

The legal landscape is patchy depending on what state you live in, but in many states, teens as young as 15 may be able to open their own checking account separate from their parents or any other co-owners.

This can be a way for teens with controlling or abusive parents to save up money so they can get to a safer and healthier living situation. Even in financially-friendly states, it can be hard to get approved for an account on your own as a minor, but some banks will allow teens to sign up for an independent checkless banking account.

Among some adults, it's possible to develop unhealthy spending habits by chronically writing checks for more than you have in your bank account, especially if you know you have overdraft coverage and the check won't clear for a few days. In this case, a checkless checking account can help you avoid that temptation by not allowing you to write paper checks.

Finally, checkless checking accounts are especially popular with people who are declined for regular checking accounts. This often happens if you've had past problems with overdrafting your checking account, which may have added negative marks to your ChexSystems report that future banks can see. It's very similar to being denied for a credit card based on the info in your credit report.

Checkless banking is a less risky way for you and the bank to establish a working relationship.

Who is a checkless checking account wrong for?

If you have a positive banking history — meaning you won't be denied a bank account based on your ChexSystems report alone — then you'll generally be able to qualify for most checking accounts, whether they come with paper checks or not. Some checkless banking accounts do offer nice bonuses and perks, particularly those from online fintech companies, but in general, checkless checking accounts won't yield quite as many benefits as a normal checking account.

In particular, if you want overdraft coverage on your account and the ability to write checks, and you can qualify for general-purpose checking accounts, then checkless checking might not work for you. Even if you're not a regular check-writer, having the option open to you in case a merchant doesn't accept your preferred payment type can be very handy.

Top checkless checking accounts

Here's a brief comparison of some top checkless checking accounts.

	Monthly fee	Minimum opening deposit	Overdraft coverage
Wells Fargo Clear Access Banking	$5, unless you meet waiver requirements	$25	None
U.S. Bank Safe Debit	$4.95	$25	None
Bank of America SafeBalance Banking	$4.95, unless you meet waiver requirements	$25	None
Citibank Access Account	$5, unless you meet waiver requirements	$0	None

Accounts with no overdraft fees

And there are other banking options we recommend that, while not technically "checkless," don't charge overdraft fees.

SoFi®

SoFi Checking and Savings accounts are a strong offering.¹ 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 3.60% 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 3.60% 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 11/12/25. 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>. Its Savings account offers an annual percentage yield (APY) of up to 3.60% with direct deposit.⁶ Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. 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>

SoFi® also doesn't have overdraft fees⁷ 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. , and even better, SoFi doesn't use ChexSystems to qualify customers.

SoFi is a Member, FDIC. 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>.

Visit SoFi® | Read our SoFi® review

Chime®

Chime is a fintech company that offers a Chime Checking account and a high-yield savings account.⁸ 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.  The Chime High-Yield Savings account is optional and can't be opened without a checking account.⁹ Chime Checking Account is required to be eligible for a Savings Account.

Like SoFi, it doesn't use ChexSystems to qualify members, and it has no monthly or annual fees.¹⁰ 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. It has an especially strong mobile app and provides access to more than 50,000 fee-free ATMs.¹¹ 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.

Chime is FDIC insured through its partner banks, The Bancorp Bank and Stride Bank.

Visit Chime | Read our Chime review

5.0

2025 award winner Best Checking and Savings Combo

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 4.30% APY on Savings (3.60% APY¹with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.² FDIC Insured.⁵

Learn More

4.6

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

Bank¹² without all the fees—save, send, and spend your money the way you want.¹³ Get paid up to 2 days early – up to 2 days earlier than most banks¹⁴

Download Cash App

4.3

Enjoy $300 as a new Chase checking customer

When you open a new Chase Total Checking® account with qualifying activities.¹⁵ FDIC Insured. Offer valid through 1/21/2026.

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FAQ

What does checkless banking mean?

A checkless bank account is a special type of checking account that doesn't allow you to write paper checks or overdraft the account. Instead, you'll get a debit card to make purchases. You can do all of the other normal checking account things, such as receiving your paycheck or transferring money to friends. Checkless checking accounts may be easier to get approved for if you've had past money management problems and can't get approved (yet) for a normal account.

Which banks do not use ChexSystems?

Many banks offer specific accounts that don't use ChexSystems as the final deciding factor in whether you're approved or not. Some online fintech banks, such as Chime, also state that they don't use ChexSystems.

How do transactions using checkless checking accounts take place?

You can generally do all of the same transactions with a checkless checking account as a normal checking account minus the ability to write paper checks. You can still deposit paper checks that other people write to you, transfer money via ACH, swipe your debit card, etc. In order for a transaction to process, you'll need to have all of the funds available in your account since checkless checking accounts may not allow overdrafts.

Checkless banking: bottom line

Checkless banking offers a pathway forward for millions of Americans who otherwise wouldn't have access to safe banking. It's picking up steam, too. The nonprofit Bank On was launched in 2006 as a coalition between communities, governments, and big banks to expand banking access to underserved Americans, and checkless banking is a big part of that.

If you're having trouble opening a checking account and you haven't heard of checkless banking before, it's worth looking into further. Check with your local banks if you want in-person service, although many checkless checking accounts are available online as well.

Check with your bank about upgrade policies. You may even be able to transition to the best checking account it offers after you've shown you can handle the account responsibly over a given period of time.

Learn More

5.0

2025 award winner Best Checking and Savings Combo

High APY of up to 4.30% on Savings (3.60% 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 network¹⁶