BEST OF - Virginia

Best Free Checking Accounts of 2022

Dec 5, 2022

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The best free checking accounts do more than keep money in people’s wallets by having no monthly fees. They also typically offer other free services or pay interest.

Why trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.

Here’s a list of our favorites based on research into dozens of institutions. We scoped out accounts based on interest rate, ATM network, rewards and other factors.

» Looking for a place to stash your savings? Take a look at NerdWallet's picks for best savings accounts

APYs shown are current as of December 5, 2022. All other information is current as of September 28, 2022.

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Best Free Checking Accounts

NerdWallet rating 

5.0

/5
Axos Bank® Rewards Checking
Learn more

at Axos Bank®, Member FDIC

Monthly fee

$0

APY

1.25%

With $0 min. balance for APY

Bonus

$150

Earn $150 with direct deposit. Terms apply.

NerdWallet rating 

4.5

/5
Consumers Credit Union Free Rewards Checking
Learn more

at Consumers Credit Union, Federally insured by NCUA

Monthly fee

$0

APY

3.00%

With $0 min. balance for APY

Bonus

N/A

Want to compare more options? Here are our other top picks:

Last updated on December 5, 2022

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People often identify opening a savings account as their next money move.

SoFi Checking and Savings

5.0

NerdWallet rating 
SoFi Checking and Savings

APY

3.25%

With $0 min. balance for APY

Bonus

$250

Earn up to $250 with direct deposit. Terms apply.

at SoFi, Member FDIC

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

3.00%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

at Discover Bank, Member FDIC

LendingClub High-Yield Savings

4.5

NerdWallet rating 
LendingClub High-Yield Savings

APY

3.25%

With $0 min. balance for APY

at LendingClub Bank, Member FDIC

Methodology

We took a close look at over 80 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.

Frequently asked questions