Best Free Checking Accounts
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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
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? See NerdWallet's picks for best savings accounts
| Product | Monthly fee | APY | Bonus | Min. opening deposit | Learn more |
|---|---|---|---|---|---|
 SoFi Checking and Savings NerdWallet Rating Learn more at SoFi Bank, N.A., Member FDIC | $0 | 0.50% With $0 min. balance for APY | $300 Earn up to $300 with direct deposit. Terms apply. | N/A | Learn more at SoFi Bank, N.A., Member FDIC |
 Cashback Debit NerdWallet Rating Learn more at Discover® Bank, Member FDIC | $0 | N/A | $360 Up to $360 per year. See website for details. | N/A | Learn more at Discover® Bank, Member FDIC |
 Chime Checking Account NerdWallet Rating Learn more at Chime®, Deposits are FDIC Insured | $0 | N/A | N/A | N/A | Learn more at Chime®, Deposits are FDIC Insured |
 Ally Bank Spending Account NerdWallet Rating | $0 | 0.10% With $0 min. balance for APY | N/A | N/A | |
 Navy Federal Credit Union Free EveryDay Checking NerdWallet Rating | $0 | 0.01% With $0 min. balance for APY | N/A | N/A |
Best free checking accounts
SoFi Checking and Savings
SoFi Checking and Savings
$0
Why we like it: SoFi’s online Checking and Savings account offers competitive interest rates on both checking and savings, and customers have access to a large, free ATM network.
No overdraft fees.
No monthly fees.
Large, free, nationwide ATM network.
Early direct deposit.
No branch access.
Fees for cash deposits.
Discover® Cashback Debit
Cashback Debit
$0
Why we like it: Discover Bank’s online Cashback Debit account pays 1% cash back on up to $3,000 in debit card purchases monthly, and provides access to a large, free ATM network.
No overdraft fees.
No monthly fees.
Large, free, nationwide ATM network.
Early direct deposit.
Checking account earns cash back on debit card purchases.
Limited branch access.
Ally Bank Spending Account
Why we like it: Ally Bank® (Member FDIC) offers interest on its free checking account as well as nationwide ATM fee reimbursements of up to $10 a month.
No overdraft fees.
No monthly fees.
Large, free, nationwide ATM network.
No minimum opening deposits.
Checking account pays interest.
No cash deposit.
No branch access.
Navy Federal Credit Union Free EveryDay Checking
$0
Why we like it: Customers at Navy Federal Credit Union have access to more than 30,000 shared Co-op Network ATMs and more than 360 branches worldwide. They also have multiple options when it comes to overdraft coverage.
No monthly fees on Free Everyday Checking account.
Large, free, nationwide ATM network.
Branches available worldwide.
Limited membership.
Chime Checking Account
Chime Checking Account
$0
Why we like it: Chime’s customers have access to a broad no-fee ATM network as well as a strong overdraft program. They can also receive their paychecks up to two days early with direct deposit.
No overdraft fees.
No monthly fees.
Large, free, nationwide ATM network.
No minimum opening deposits.
Early direct deposit.
No branch access.
Our Nerds say:
“When shopping for a checking account, it’s great to find one that has no monthly fees, but you should also think about the other features you might want and need. For example, you might want to earn interest or cash back, or you might need a bank that’s part of a large, free ATM network or that offers ATM fee reimbursements.
"Also, you might want to look for a bank that has a generous overdraft policy. Some banks will even spot you up to a certain amount of money if you overdraft.”
- Chanelle Bessette, NerdWallet banking writer
Frequently asked questions about the best free checking accounts
What does a checking account do?
Checking accounts help you manage the transactions you need to make on a regular basis, such as paying bills, receiving your paycheck and depositing or withdrawing cash. They usually come with a debit card and the ability to write checks.
Why does it matter if a checking account is free?
The fee on your checking account can add up quickly over time. Free checking accounts give customers access to all the perks of a checking account without the burden of paying a monthly maintenance fee.
What should I look for in a checking account?
The best checking accounts have no fees and ideally earn interest, give cash back or offer a bonus. You should also make sure that the bank offers good customer service and is convenient for your lifestyle. Some accounts also offer early access to direct deposits.
Methodology
We took a close look at over 100 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.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Carver Federal Savings Bank, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Climate First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Delta Community Credit Union, Discover® Bank, E*TRADE, EverBank (formerly TIAA Bank), Fifth Third Bank, First Foundation, First Internet Bank, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, Forbright Bank, Global Credit Union, GO2bank, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, Laurel Road Bank, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo, Western Alliance Bank and Zynlo Bank.
Best free checking accounts
