BEST OF
10 Best Free Checking Accounts
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.
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
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.
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
Summary of Best Free Checking Accounts
Bank/Institution | NerdWallet Rating | Monthly Fee | APY | Learn More |
---|---|---|---|---|
$0 | N/A | at Chime, Deposits are FDIC Insured | ||
Alliant Credit Union High-Rate Checking at Alliant Credit Union, Federally insured by the NCUA | $0 | 0.25% With $0 minimum balance | at Alliant Credit Union, Federally insured by the NCUA | |
$0 | 1.25% With $0 minimum balance | at Axos Bank®, Member FDIC | ||
$0 | N/A | at Varo, Deposits are FDIC Insured | ||
$0 | 0.10% With $0 minimum balance | Read review | ||
$0 | 0.20% With $100 minimum balance | Read review | ||
$0 | 0.25% With $0 minimum balance | Read review | ||
$0 | 0.03% With $0 minimum balance | Read review | ||
$0 | N/A | Read review | ||
$0 | 0.10% With $0 minimum balance | Read review |
at Chime, Deposits are FDIC Insured
Chime Spending Account

Monthly Fee
APY
With $0 minimum balance
Bonus
at Chime, Deposits are FDIC Insured
at Alliant Credit Union, Federally insured by the NCUA
Alliant Credit Union High-Rate Checking

Monthly Fee
APY
With $0 minimum balance
Bonus
at Alliant Credit Union, Federally insured by the NCUA
at Axos Bank®, Member FDIC
Axos Bank® Rewards Checking

Monthly Fee
APY
With $0 minimum balance
Bonus
at Axos Bank®, Member FDIC
at Varo, Deposits are FDIC Insured
Varo Bank Account

Monthly Fee
APY
With $0 minimum balance
Bonus
at Varo, Deposits are FDIC Insured
Ally Bank Interest Checking Account

Monthly Fee
APY
With $0 minimum balance
Bonus
Bank5 Connect High Interest Checking

Monthly Fee
APY
With $100 minimum balance
Bonus
FNBO Direct Online Checking

Monthly Fee
APY
With $0 minimum balance
Bonus
Schwab Bank High Yield Investor Checking®

Monthly Fee
APY
With $0 minimum balance
Bonus
Discover Bank Cashback Debit

Monthly Fee
APY
With $0 minimum balance
Bonus
Capital One 360 Checking®

Monthly Fee
APY
With $0 minimum balance
Bonus
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Last updated on January 15, 2020
Methodology
We took a close look at over 70 financial institutions, 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.
Financial institutions surveyed are: Alaska USA Federal Credit Union, Alliant Credit Union, Ally Bank, America First Credit Union, American Express National Bank, Associated Bank, Axos Bank, Bank5 Connect, Bank7, Bank of America, Bank of the West, Barclays, BB&T, BBVA, BMO Harris, Boeing Employees Credit Union, Capital One 360, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Comenity Bank, Comerica Bank, Commerce Bank, Connexus Credit Union, Consumers Credit Union, Discover Bank, E*TRADE Bank, Fifth Third Bank, First Foundation Bank, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, GoBank, Golden 1 Credit Union, Goldman Sachs Bank USA, HSBC Bank, Huntington Bank, KeyBank, Live Oak Bank, M&T Bank, Nationwide Bank, Navy Federal Credit Union, NBKC Bank, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Radius Bank, Redneck Bank, Regions Bank, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, State Employees' Credit Union of North Carolina, Suncoast Credit Union, SunTrust Bank, Synchrony Bank, TAB Bank, TCF Bank, TD Bank, TIAA Bank, U.S. Bank, UFB Direct, Union Bank, USAA, Varo, Vio Bank, Wells Fargo, Woodforest National Bank and Zions Bank.
To recap our selections...