18 Best Free Checking Accounts at U.S. Banks

18 Best Free Checking Accounts at U.S. Banks

It’s becoming increasingly difficult to find truly free checking accounts. At many banks, you’re now required to pay a monthly maintenance fee for the privilege of keeping your checking account open. Such fees can range from a few dollars to $20 or more, depending on the bank and other associated perks. To avoid these fees, you may need to maintain a high minimum daily balance, make regular deposits of a certain size or frequency, or execute a minimum number of transactions in a statement period.

Fortunately, it’s still possible to find free checking accounts. You just have to know where to look. Many online banks offer legitimately free, FDIC-insured (up to $250,000 per account) accounts with few restrictions and plenty of sweeteners. Some even pay noticeable interest.


If you’re looking for a checking account that won’t eat away at your deposits, take a closer look at these options available to customers throughout the United States.

Best Free Checking Accounts

These are the best free checking accounts on the market today.

1. BBVA Online Checking

Earn up to a $250 Bonus, Plus Cash Back on Select Purchases Through Simple Cash Back; No ATM Fees at 64,000 Locations

Bbva LogoBBVA Online Checking is a truly free checking account available nationwide with the exception of Alaska and Hawaii. With a minimum opening deposit of just $25, no ATM fees at more than 64,000 AllPoint®, participating 7-Eleven® and BBVA USA ATMs around the United States, and a fee-free Visa debit card, BBVA Online Checking is a great choice for folks looking to blend the convenience of online banking with the flexibility of traditional deposit accounts.

Enroll in the free Simple Cash Back program to earn cash back on purchases made with participating BBVA partners. For a $4 monthly fee – money well spent – you can enroll in the BBVA ClearBenefits program and take advantage of potentially valuable services like cell phone protection and identity theft restoration and insurance.

  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $25.
  • Account Opening Bonus: New Online Checking accounts opened through November 19, 2019, may qualify for a cash bonus up to $250. You’ll earn a $200 bonus when you open a new Online Checking account and make at least one direct deposit of $500 or more by December 31, 2019. The bonus increases to $250 when you add an Online Savings account and log a $300 balance (or higher) in that account on December 31, 2019.
  • Yield: This account does not pay interest.
  • Rewards and Incentives: Enroll in the Simple Cash Back program to earn cash back at select participating merchants. You’ll receive tailored offers based on your spending behaviors; simply choose which offers you want to take advantage of, and when. There’s no cost to enroll in this program.
  • Mobile Features: Mobile check deposit, mobile account alerts, mobile payments and transfers (including P2P transfers), mobile bill pay. The account is Android and iPhone compatible.
  • Overdraft Options: BBVA has multiple overdraft options. The default option is no overdraft protection; when you choose this option, transactions for which you have insufficient funds are simply declined. Option B is inter-account transfer, which sweeps funds from other BBVA accounts (such as savings) to cover checking transactions for which you have insufficient checking funds, subject to a $12 fee per day in which an overdraft is covered from a linked account. Option C is overdraft line of credit, in which an overdraft is covered by a transfer from a linked line of credit at a daily fee of $12, subject to credit approval. Option D is courtesy overdraft coverage, in which BBVA allows transactions that would normally be declined to go through, subject to a $38 NSF fee per occurrence (maximum 6 NSF fees per day). Additional fees may apply when your account is overdrawn for more than 7 consecutive calendar days.
  • Possible Fees: Paper statements ($3 monthly by default, but you can opt for free electronic account statements and eliminate the $3 fee when you turn off paper statements in your online banking account), early account closing ($25 for accounts closed within 180 days of opening).

2. Simple Checking Account

2.15% APY on Protected Goals Account Balances of $10,000 & Up; 2.02% APY on Protected Goals Account Balances Under $10,000

Simple.comSimple is a digital banking platform that centralizes banking, budgeting, and saving under one virtual roof. If there’s a headline here, it’s the very competitive yields on balances held in Simple’s Protected Goals Accounts – Simple’s answer to the traditional savings account. Protected Goals Account balances of $10,000 or more earn 2.15% APY; balances below $10,000 earn 2.02% APY.

Simple’s standard checking account doesn’t charge a monthly maintenance fee, regardless of balance, and you won’t find any miscellaneous nickel-and-dime fees at Simple either. The Safe-to-Spend feature is a head-slappingly straightforward tool that automatically accounts for account inflows and near-term expected outflows (scheduled bills out to 30 days from the present), ensuring you always know how much you can safely spend before the next payday. Meanwhile, trackable spending makes budgeting a breeze, and shared accounts empower couples to manage household finances with ease.

  • Minimum Deposit and Balance Requirements: There’s no minimum opening deposit and no minimum daily balance.
  • Account Opening Bonus: There’s currently no account opening bonus. Check back for the latest offers.
  • Rewards and Incentives: With normal use, your account is totally free to use and enjoy, though third-party ATM owners may charge fees beyond Simple’s control.
  • Mobile Features: Mobile check deposit, fee-free instant P2P transfers to other Simple users, fee-free third-party transfers and payments using apps like Square and Venmo, mobile payment app compatibility. The mobile app is Android- and iPhone-compatible.
  • Overdraft Options: Simple does not charge overdraft fees. Use the app’s Safe-to-Spend feature to monitor your spending and ensure you have sufficient funds to complete the transactions you attempt.
  • Possible Fees: Third-party ATM fees (charged by the owner, not Simple).

3. Chime Deposit Account

Get Paid 2 Days Early With Direct Deposit; Virtually No Fees

Chime Bank AccountChime is a mobile-first banking app that merges the low cost of online checking and savings accounts with the convenience of truly on-the-go banking. The headline here is Chime’s promise – subject to the policies of payers and their banks – that its Deposit Account (checking) customers get paid two days faster with direct deposit. If you’re accustomed to Friday paydays but could really use the money on Wednesday, the Chime Deposit Account may be the free checking account you’ve been waiting for.

Speaking of free: Chime has virtually no fees, save for a $2.50 over-the-counter cash withdrawal charge that’s easily avoided when you use one of the bank’s 38,000 fee-free ATMs. Add in an automatic savings option that rounds up the change on every debit card transaction, and you’ve got a serious contender on your hands.

  • Minimum Deposit and Balance Requirements: There’s no minimum opening deposit and no minimum daily balance.
  • Account Opening Bonus: None.
  • Yield: None.
  • Rewards and Incentives: Chime charges virtually no fees. Under normal circumstances, you won’t pay a dime to use your account.
  • Mobile Features: Mobile check deposit, fee-free P2P transfers, fee-free electronic bill pay, mobile payment app compatibility (Apple Pay, Samsung Pay, and Google Pay). The mobile app is Android- and iPhone-compatible.
  • Overdraft Options: Chime does not offer overdraft protection. Under normal circumstances, transactions that would result in a negative account balance are automatically declined. Chime deals with special cases that unavoidably result in negative balances, such as pay-at-the-pump gas transactions, on a case-by-case basis.
  • Possible Fees: Over-the-counter cash withdrawal ($2.50).

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Source:- moneycrashers