Best Banks With Free and No Fee Checking in February 2025

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Looking for a free checking account in 2025? You’re not alone. With things getting more and more expensive, saving some money everywhere you can is so important.

With banks charging fees for everything from overdrafts to out-of-network ATMs, finding a checking account with no monthly fees, no minimum balance and free essential services can save you hundreds of dollars per year. The good news? Many banks still offer truly fee-free checking accounts — you just need to know where to look.

What Is a Free Checking Account

A free checking account is a bank account that doesn’t charge monthly maintenance fees or require a minimum balance to keep it open. These accounts typically provide essential banking services like:

• No monthly fees: No recurring charges just for having the account.
• No minimum balance requirements: Keep as little or as much as you need.
• Free debit card: Most banks provide a free debit card with the account.
• Free online banking: Access to mobile and online banking services.
• ATM fee reimbursements: Some banks offer refunds for out-of-network ATM fees.

Some so-called “free” checking accounts still have hidden fees. Look out for overdraft fees, paper statement fees and out-of-network ATM charges that might be tacked onto the account.

8 Best Free Checking Bank Accounts With No Minimums

Here’s a look at some of the best free online banking options and checking accounts with no minimum balance requirements. You can open most of these accounts for free with no minimum opening deposits, account balances or even monthly service fees.

1. Ally Bank

Ally Bank’s interest-bearing Spending Account is a free online checking account with lots of perks to help you manage your money. Deposit checks from your smartphone, or transfer money using Zelle. Open an online savings account and Ally Round Ups will round up your spending transactions and deposit the extra amounts into your savings account.

ATM access:

• No fee for over 75,000 Allpoint and MoneyPass ATMs
• Automatic reimbursement for up to $10 in other domestic ATM fees

Interest:

• .10% APY for accounts with a daily balance of at least $15,000
• .25% APY for accounts with a daily balance under $15,000

Fees:

• Outgoing domestic wire transfer: $20 per transfer
• Expedited delivery: $15

Physical locations: No

Customer service:

• Phone: 877-247-2559, available 24/7
• Email and live chat for account holders

Additional features

• No maintenance fees
• Expedited paychecks — get paid up to two days early
• Overdraft protection up to $250 and no overdraft fees
• Debit card controls available

Why we like it:

Ally includes lots of freebies with its Spending account. There’s no charge for incoming wire transfers or cashier’s checks and no overdraft fees. Plus, accounts earn APY, depending on the balance.

2. Axos Bank

Axos Bank’s no-fee, no-minimum checking account is called Essential Checking, and it has the features you need most. Axos also prioritizes security by offering biometric authentication, account monitoring and other security measures.

ATM access:

• Free withdrawals at over 90,000 locations
• Unlimited domestic ATM fee reimbursements

Interest: Non-interest-bearing account

Fees:

• Paper statements: $5
• Wire transfers: $35 for outgoing domestic and $45 for outgoing international

Physical locations: No

Customer service:

• Evo virtual assistant
• Phone: 888-502-2967

Additional features:

• Get access to funds up to two days early via Direct Deposit Express
• Referral bonus for inviting friends
• Peer-to-peer payments directly from your account with just the recipient’s email or phone number

Why we like it:

Axos has a high-yield checking option for customers who maintain higher balances, receive monthly direct deposits and/or have an Axos loan. You can start with Essential Checking for basic day-to-day checking needs, and then trade up to Rewards Checking if your situation changes.

3. Capital One

Capital One offers a free 360 Checking account that includes integration with Zelle for easy peer-to-peer payments, plus additional features to make banking easy.

ATM access:

• Over 70,000 fee-free ATMs
• No fee for out-of-network ATM use

Interest: .10 APY* for all balances

Fees:

• Cashier’s check: $10 from Capital One location or $20 for expedited delivery
• Wire transfer: $30 for outgoing domestic

Physical locations: Yes

Customer service:

• Phone: 877-383-4802
• Automated service available 24/7
• Online chat with digital assistant Eno

Additional features:

• Real-time alerts about account activity
• Debit card with $0 fraud liability, plus lock and unlock features
• Receive paycheck up to two days early
• Deposit money on the mobile app or at an ATM, physical location or CVS or Walgreens store

Why we like it:

Unlike many of the banks on this list, Capital One has physical branches as well as Capital One Cafés where you can bank face-to-face with a representative.

4. Chime®

Chime** is a financial technology company that has partnered with The Bancorp Bank and Stride Bank, which provide banking services for Chime members. Here’s what you can expect when you open a checking account with Chime.

ATM access: Over 50,000 free in-network ATMs¹

Interest: Non-interest-bearing account

Fees:

• ATM and over-the-counter withdrawals: $2.50 at non-network machines

Physical locations: No

Customer service:

• Phone: 844-244-6363, 24/7
• Via Chime mobile app

Additional features:

• Get your paycheck up to two days early²
• Debit card settings available online³
• Deposit cash at Walgreens stores⁴

Why we like it:

Chime is especially well suited for consumers banking for the first time. A highly rated app and opportunities to open a savings account and secured credit card make it easier to get your finances off to a strong start.⁵ You’ll need to have a Chime checking account to be eligible for a savings account.

5. Discover

The Discover® Cashback Debit account* is a robust option for fee-weary consumers. You can earn cash back on purchases and benefit from additional online security measures.

ATM access:

• Over 60,000 domestic ATMs
• Free withdrawals

Interest: Non-interest-bearing account

Fees:

• Outbound wire transfer: $30

Physical locations: No

Customer service:

• Phone: 800-347-7000
• 24/7, including evenings, weekends and holidays

Additional features:

• 1% cash back on up to $3,000 in debit card purchases each month; see website for details
• Integrate with digital wallets and Apple Pay
• Helps remove personal information from online searches

Why we like it:

Discover® Bank, Member FDIC, is a full-service financial institution that can handle all your banking needs. In addition to a full range of deposit accounts, Discover offers individual retirement account products, credit cards and personal, student and home loans.

6. E*TRADE From Morgan Stanley

This checking account is serviced by Morgan Stanley Private Bank, National Association, Member FDIC, with these features:

ATM access:

• Use any ATM nationwide, with unlimited fee refunds
• No fees are charged by Morgan Stanley Private Bank, National Association

Interest: APY

Fees:

• Wire transfer: $25 per outgoing made by phone; $0 if placed online
• Stop payment requests: $25 per transaction

Physical locations: No

Customer service:

• Phone: 800-387-2331

Additional features:

• Unlimited ATM fee refunds nationwide
• Money transfers via the E*TRADE platform
• Free Coverdraft Protection, when enrolled
• Same-day wire transfers

Why we like it:

A generous APY, ATM refunds and more make this checking account a solid option for E*TRADE investors looking for a free and easy way to manage their uninvested cash.

7. Varo

Varo is a full-service online bank with no hidden account fees, and you can open an account online or via the app in just a few minutes.

ATM access:

• Over 40,000 fee-free Allpoint ATMs
• No foreign transaction fees

Interest: Non-interest-bearing account

Fees:

• $3.50 per out-of-network ATM transaction
• Up to $5.95 retail service fee to deposit at checkout

Physical locations: No

Customer service:

• Phone: 877-377-8276, Monday-Friday, 8 a.m. to 8:30 p.m. ET, for help filing a dispute, logging in to your account or adding your Varo card to your digital wallet
• Chat: Available seven days per week, except Thanksgiving, Christmas and New Year’s Day
• Email

Additional features:

• Receive your paycheck up to two days early
• Track cash flow
• Debit card that lets you receive up to 6% cash back on eligible purchases
• Savings account with APY on the first $5,000 and APY on the rest

Why we like it:

You can start using your Varo bank account right away with the digital debit card you get free while you wait for the physical card to arrive by mail.

Benefits of Free Checking Accounts

A free checking account allows you to save money on monthly maintenance fees that other checking accounts charge. These accounts also come with additional features, like free online banking, bill pay and budgeting tools.

Here’s a full breakdown of features to expect:

• Save money on banking fees: Keep more of your hard-earned cash.
• Easy account access: Use online banking, mobile apps and debit cards without additional costs.
• No hidden conditions: No need to maintain a high balance or meet deposit requirements.
• More flexibility: Ideal for students, freelancers, and anyone looking to avoid bank fees.

With this type of checking account, you get all of the conveniences of a bank account without having to fulfill a minimum balance requirement.

Common Fees to Watch Out For With “Free” Accounts

Even the best no-fee checking accounts might have some costs. Be mindful of these potential charges:

• Overdraft Fees: Some banks charge $30+ if you overdraw your account. Look for banks that offer overdraft protection.
• Out-of-Network ATM Fees: Avoid banks with limited ATM access or choose accounts with ATM fee reimbursements.
• Paper Statement Fees: Many banks now charge for paper statements — opt for free e-statements instead.
• Wire Transfer Fees: If you send or receive wire transfers often, check if your bank charges extra.

How to Avoid Fees: Set up alerts for low balances, opt for electronic services, and choose a bank with a large ATM network.

How to Choose the Best Free Checking Account

When selecting a no-fee checking account, there’s a lot to consider. Here’s a breakdown of some factors to consider when opting for the right account for you:

• ATM Access: Does the bank offer fee-free ATMs near you or reimburse ATM fees?
• Mobile Banking Features: Does it provide mobile check deposits and free bill pay?
• Interest or Rewards: Some checking accounts offer cashback or a high APY.
• Overdraft Protection: Look for accounts that don’t charge overdraft fees or offer coverage options.

How to Switch to a Free Checking Account

Once you’re ready and know which free checking account to go with, you’ll need to know how to actually go about switching. Here’s a quick step-by-step breakdown of how to do so:

• Step 1: Research and Compare – Choose a bank that aligns with your banking needs.
• Step 2: Open Your New Account – Ensure it’s truly fee-free and set up direct deposits.
• Step 3: Transfer Funds – Move money from your old account and update automatic payments.
• Step 4: Close Your Old Account – Make sure all payments have cleared before closing.

Keep your old account open for a month to catch any unexpected transactions before fully switching over.

Final Take To GO: Are Free Checking Accounts Really Free?

Switching to a free checking account can save you money and provide better banking convenience. Whether you prefer a traditional bank with branch access or an online bank with extra perks, there’s an option for everyone. Compare features, look for hidden fees and pick the account that fits your lifestyle.

Open a no-fee checking account today and start saving!

Taylor DeJesus, Marc Guberti, Cynthia Measom and Caitlyn Moorhead contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Feb. 11, 2025.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article, unless labeled as sponsored.

*All information about Discover® Cashback Debit has been collected independently by GoBankingRates. Discover® Cashback Debit is no longer available through GoBankingRates.

*Capital One interest rates are accurate as of 9/11/2025. See the website for all current rates.

*Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.

¹Out-of-network ATM withdrawal and over-the-counter advance fees may apply. See here for details.

²Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. Chime generally makes these funds available on the day the payment file is received, which may be up to two days earlier than the scheduled payment date.

³Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. Please see the back of your card for its issuing bank.

⁴Once the retailer accepts your cash, the funds will be transferred to your selected Chime Account. Barcode and debit card cash deposits land in the Checking Account. Credit Builder card cash deposits first go through your Card Account and then land in your Secured Account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade.

⁵The Chime Credit Builder Visa® Card is issued by Stride Bank, N.A., pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. Please see the back of your card for its issuing bank.

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