find the best checking account
checking accounts

Find which of 523 checking accounts has the lowest fees

With all the recent increases in checking account fees and requirements, it's become increasingly difficult to find free checking accounts or even just cheap, low-fee checking. To help you out, we've compiled offers from all sorts of banks and credit unions to help you find the best checking account for your financial needs. We'll do the math to give you a personal recommendation of which checking account is the cheapest. You can also check out our state-by-state list of banks and credit unions offering completely free checking accounts.

Want to get your checking accounts listed? Email us at checking@nerdwallet.com

Find the best checking account

1. Narrow Down Your Options

Zip Code?
What best describes you?
Teen
College Student
Senior
Everyone else
Do you have a preferred financial institution type?
Big bank
Community bank
Credit union
Internet bank
Financial institutions

Big banks aren't the only place to open a checking account!

It turns out credit unions and internet banks are great options for truly free checking. Check out our overview of financial institutions for more information

Calculate your likely fees

2. Calculate Monthly Service Fees

What is your typical minimum daily balance?
$1,500
Will you use direct deposit?
Yes
No
How much will you direct deposit each month?
Hint: Typically twice your bi-weekly paycheck.
$0
Will you open other types of financial accounts with the same bank?
Yes
No
Will you open other types of financial accounts with the same bank?

Many banks encourage customers to open additional non-checking financial accounts (e.g., savings accounts, CDs, etc.) with them

If you're willing to sign on to more accounts AND maintain certain combined balances, many banks will waive your monthly service fee and upgrade you to a premium checking account

Average monthly balance across products?
$20,000

3. Calculate ATM and Overdraft Fees

How many out of network ATM withdrawals will you make each month?
0
How many times will you overdraft per year?
0
What is an overdraft?

Overdrafts occur when you make a transaction using more funds than are currently available in your checking account. When you overdraw, whether it is through a debit card purchase or ATM withdrawal, the bank can either process or reject the transaction. If the bank chooses to pay the transaction (even though you don't have enough money in your account), you will be charged an "overdraft" fee.

For example, if you have just $1 in your account but you pay for a $2 coffee, the bank can decide to approve your transaction and charge an overdraft fee.

4. Calculate One-Off Fees

Is there a chance you will close your account within 6 months?
Yes
No
Early account closure fee

Most banks charge around $25 if you close your account within the first 6 months. The length of time that you must keep your account open, in order to avoid this fee, varies from bank to bank. This period is typically 1 month, 3 months, or 6 months.

Replace a lost card?
0 times/year

Card replacement fee

Some banks charge up to $10 to replace a lost ATM card (and anywhere from $20-$50 for a rushed delivery)

Stop a payment?
0 times/year

Stop payment fee

In certain circumstances, you may find yourself having to contact your bank to request that they NOT make a payment on a check that you already wrote. A common example: You didn't receive your merchandise, so you stop payment on a check you already wrote.

In such instances, the bank will charge you a fee to stop the payment

Deposit checks that bounce?
0 times/year

When you get charged a fee for a bounced check someone else has written you (through no fault of your own!)

If a bank cashes a check that someone else has written you and it is later returned unpaid, they charge you a Deposited Item Returned fee. Deposited items can be returned because of insufficient funds or a unclear signature.

What can end up happening: funds you deposit are made available to you even if the item has not cleared the bank on which it was drawn. Thus, if any item you deposit is returned to the bank unpaid, regardless of the reason it was returned, banks typically debit your account for the amount PLUS a fee.

Let us know what you think at feedback@nerdwallet.com

Want to get your checking accounts listed? Shoot us an email at checking@nerdwallet.com

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*Disclaimer: We try to keep information accurate and up to date, however we cannot make warranties regarding the accuracy of our information. Please verify FDIC Insurance / NCUA Insurance status, credit card information, and interest rates during the application process. Please note that NerdWallet has financial relationships with some of the merchants mentioned here. NerdWallet may be compensated if consumers choose to utilize the links located throughout the content on this site and generate sales for the said merchant.