6 best no-fee checking accounts of September 2024 (2024)

Checking accounts are an everyday financial tool for many people, but maintaining one can be expensive. Major banks often charge account maintenance fees that can cost you up to $35 per month.

CNBC Select compared dozens of checking accounts from online and brick-and-mortar banks, as well as credit unions, to find the ones charging zero monthly maintenance fees. We favored those that also have low (or no) minimum balance and deposit requirements. (See our methodology for more information on how we choose the best no-fee checking accounts.)

Who's this for? The Discover Cashback Debit Checking account is ideal if you want a no-fee debit card that earns rewards. This checking account provides 1% cash back on up to $3,000 in debit card purchases each month. That's up to $30 cashback per month and up to $360 annually.

Standout benefits: It's uncommon for a debit card to offer a rewards program. Account holders can redeem cash back as a deposit into a Discover checking, savings or money market account or transfer it to their Discover credit card. There's no minimum deposit required to open this account, and overdraft protection is free (which is hard to find). Discover provides access to over 60,000 fee-free Allpoint and MoneyPass® ATMs, as well as 24/7 access to U.S.-based customer service representatives.

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Who's this for? If you prefer to bank in person, the Capital One 360 Checking account gives you access to hundreds ofbranch locations. Plus, there areCapital One Cafés where you can grab a cup of coffee and speak to a Capital One ambassador.

Standout benefits: Capital One 360 has no monthly fees, no minimums and no overdraft fees. There are also no foreign transaction fees, so you can use your debit card outside the U.S. without incurring extra costs.

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Who's this for? If you find it difficult to stick to in-network ATMs, consider the Alliant High-Rate Checking Account, a checking account that reimburses the out-of-network ATM fees you may incur. Alliant provides you with up to $20 per month in ATM fee rebates if you use out-of-network ATMs — a savings of up to $240 in ATM fees per year. The rebates are deposited into your account at the end of each day, so you're refunded quickly.

Standout benefits: Alliant's High-Rate Checking has no monthly service fees or minimum balance requirements, as well as no overdraft fees and zero non-sufficient funds fees. It also provides access to over 80,000 fee-free ATMs nationwide.

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Who's this for? The online-only Ally Bank Spending Account offers higher interest than most big banks. You can score 0.10% APY on balances less than $15,000 and 0.25% APY on $15,000-plus balances.

Standout benefits: Ally Bank offers no monthly maintenance or overdraft fees. You can get your paycheck up totwo days earlywhen youset up direct deposit and Ally has spending buckets to help with budgeting. You'll also have access to over 43,000 no-feeAllpoint ATMs and Ally reimburses up to $10 per month for out-of-network ATM fees.

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Who's this for? The Chase College Checking provides zero monthly service fees for up to five years for college students ages 17 to 24 who show proof of student status at account opening.

After the five years, the monthly fee is $12, unless you do at least one of the following each statement period:

• Have electronic deposits made into your account totaling $500 or more, such as payments from payroll providers or government benefit providers
• Keep an average ending day balance of $1,500 or more in your checking account

Standout benefits: There's no minimum deposit required to open a Chase College Checking account. As a new account holder, you can earn $100 after completing 10 qualifying transactions within 60 days of coupon enrollment (offer ends 10/16/2024). You can also access your free credit score and work to build credit with a personalized plan throughChase Credit Journey^®, powered by Experian®, and free identity monitoring. Chase has more than 15,000 fee-free ATMs and 4,700 branches across the U.S.

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Who's this for? Axos Bank Rewards Checking is ideal if you want to earn some extra cash through a welcome bonus. If you open a new Rewards Checking account before 7/31/2024 and use promo code "RC500" you can earn up to $500. You'll earn $100, up to $500, each statement cycle that you receive qualifying direct deposits of at least $1,500 in total and maintain an average daily balance of at least $3,000. Account must be funded within 60 days of opening.

Standout benefits: The Rewards Checking has no monthly maintenance fees, overdraft or non-sufficient funds fees, as well as zero minimum monthly balance requirements. There are unlimited domestic ATM fee reimbursem*nts, and you also get 24/7 access to Evo, the virtual assistant.

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Discover is an online bank offering checking and savings accounts, rewards credit cards, personal loans and home equity loans. Checking customers have access to over 60,000 surcharge-free ATMs across the U.S. Plus, you can get paid up to two days early with direct deposit.

Monthly maintenance fee

$0

Minimum deposit and/or balance

$0

Overdraft fee

$0

Free ATM network

60,000+ Allpoint and MoneyPass ATMs

ATM fee reimbursem*nt

None

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Capital One is a large bank that offers everything from checking and savings accounts to credit cards, auto loans, as well as business and commercial banking. Although you can bank entirely online with the Capital One 360 Checking account, there are also hundreds of physical branches where you can get help in person.

Monthly maintenance fee

$0

Minimum deposit and/or balance

$0

Overdraft fee

$0

Free ATM network

70,000+ Capital One, MoneyPass andAllpoint ATMs

ATM fee reimbursem*nt

None

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Alliant Credit Union offers checking and savings, credit cards, CDs, custodial accounts, home loans, auto loans, personal loans, commercial real estate lending, investment accounts like IRAs and trust accounts, plus all types of insurance.

It's easy to join Alliant Credit Union: become an Alliant Credit Union Foundation digital inclusion advocate and you're eligible. Alliant will even make the one-time $5 contribution to the foundation on your behalf.

Monthly maintenance fee

$0

Minimum deposit and/or balance

$25 minimum deposit when opening online or over phone

Overdraft fee

$0

Free ATM network

80,000+ ATMs nationwide

ATM fee reimbursem*nt

Up to $20 per month

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Ally Bank is online-only, offering checking and savings accounts like CDs and money market accounts, IRAs, credit cards, investment accounts, plus home and auto loans.

Monthly maintenance fee

$0

Minimum deposit and/or balance

$0

Overdraft fee

$0

Free ATM network

43,000+ Allpoint ATMs

ATM fee reimbursem*nt

Up to $10 per month

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Chase is a big-name bank with more than 4,700 branches, offering everything from checking and savings, CDs and credit cards, to home and auto loans, plus investing by J.P. Morgan.

Monthly maintenance fee

$0 while in school (5 years maximum); after, $12 per month, unless you have monthly direct deposits of at least $500 or maintain a daily minimum $1,500 balance

Minimum deposit and/or balance

$0 while in school

Overdraft fee

$0 if you link to Chase Savings℠ account for Overdraft Protection

Free ATM network

15,000+Chase ATMs

ATM fee reimbursem*nt

None

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Axos Bank offers checking and savings, including money market accounts and CDs, mortgages, personal loans, auto loans, boat loans, plus IRAs and investment accounts. It also offers small business banking, commercial banking and commercial lending.

Monthly maintenance fee

$0

Minimum deposit and/or balance

$0

Overdraft fee

$0

Free ATM network

60,000+ Allpoint and MoneyPass ATMs

ATM fee reimbursem*nt

Unlimited domestic ATM fee reimbursem*nts

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Before you choose a checking account,familiarize yourself with common checking account fees. Here are seven common fees you may incur:

• Monthly maintenance fee:The monthly service fee,often up to $15, that banks or credit unions charge to maintain your account.
• Overdraft fee:If you spend more than the amount in your account, resulting in a negative balance, you may be hit with a steep overdraft fee up to $35.
• Non-sufficient funds (NSF) fee:If you write a check and it bounces because there isn't enough money in your bank account, you'll likely incur a NSF fee.
• ATM fee:When you use ATMs that aren't affiliated with your bank or credit union, you may be hit with two fees: one from your bank/credit union and another from the ATM operator.
• Paper statement fee: If you don't enroll in paperless, you may pay up to $5 per statement.
• Foreign transaction fee:If you use your debit card to make purchases or withdraw money from an ATM outside of the U.S., you'll likely incur a fee that's often 3% of the U.S. dollar amount of the transaction.
• Account closure fee:If you close your account within 90 to 180 days of opening it, you may incur an account closure fee of around $25.

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To determine which checking accounts provide the best place to deposit your money at no monthly cost, CNBC Select analyzed dozens of U.S. checking accounts offered by online and brick-and-mortar banks, including majorcredit unions. We narrowed down our rankings by only considering checking accounts that charge no monthly maintenance fees (and no catches to benefit from zero monthly fees).

While the accounts we chose in this article consistently have no monthly maintenance fees, we also compared each checking account on a range of features, including:

• No minimum balance requirements
• Low initial deposit of $0 to $50
• Available nationwide
• Physical branch locations and/or online accessibility
• Large ATM network
• Ease of use and account accessibility
• Customer reviews, when available

We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.

All the accounts included on this list are FDIC- or NCUA-insured up to $250,000. This insurance protects and reimburses you up to your balance and the legal limit in the event your bank or credit union fails.

The rates and fee structures for checking accounts are subject to change without notice and they often fluctuate in accordance with the prime rate.

Your earnings depend on any associated fees and the balance you have in your checking account. To open an account, some banks and institutions may require a deposit of new money, meaning you can't transfer money you already had in an account at that bank.

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Information about the Ally Bank Spending Account has been collected independently by CNBC Select and has not been reviewed or provided by the issuer of the card prior to publication.

Ally Bank is a Member FDIC.