Best Checking Account With No Monthly Fee
How we picked the companies to evaluate:
We took a close look at over 70 financial institutions, including the largest U.S. retail banks, based on assets and internet search traffic; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry, based on competitive checking and savings offerings. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more. Some of the providers are NerdWallet partners, but this did not influence our selection of the winner.
How we chose the winner:
The winning bank or credit union has a checking account with no monthly fee. If more than one bank charged no monthly fee, financial institutions were compared by category in the following order until one institution remained:
- Checking (monthly fees contributed to 50% of the rating, domestic ATMs 33.3%, interest rate 13.3% and required minimum opening deposit 3.3%).
- Overdraft fees.
- Banking experience.
How we verified our data:
NerdWallet writers and editors confirmed fees, rates, policies and other key features on each financial institution’s website. If an institution’s website was missing information, we contacted a representative directly for confirmation.