You are currently viewing Top Free Checking Accounts For March 2023

Top Free Checking Accounts For March 2023

Do you hate spending money on luxuries to keep your bank account open? A no-fee bank account can help you save money in the long run and keep your finances organized. You’re not alone. It is hard to believe that a bank would charge a fee just to keep your account open. It’s important to research which bank is best for your financial needs so you can avoid fees and costs.

You have to pay a monthly fee for the maintenance of your checking account, which can range from a few dollars to as much as $20 a month.

If you want to keep more of your money in your pocket – and I’m sure you do – there are some pretty awesome free checking accounts to consider.

If your bank balances aren’t too high, you won’t have to pay monthly service fees. You will get access to a wide range of features. Some of the accounts offer perks like free services and interest on your money. Cash-back incentives are offered by some banks for using their debit card.

10 Best Free Checking Accounts

Here are the best free checking accounts you can open today:

Discover Cashback Debit Checking

You will not only save money on banking, but you will also be rewarded for using your checking account.

If you use your debit card, you can earn up to $30 a month just for using it. That could add up to $360 a year – which you could use to start investing in some of the best passive income ideas.

There are exceptions for receiving money. It is important to remember that there are different rates for different types of purchases. Purchase of money orders, P2P payments, and a few other transactions won’t get you cashback. Check your credit card’s terms and conditions for a full list of excluded transactions. Make sure you are aware of them before you use your Discover card.

You can open a There is no minimum balance requirement or opening deposit for the Cashback Debit Checking account. You can get 1% cash back on up to $3,000 in purchases each month.

There are over 60,000 no-fee ATMs in the U.S. and Discover allows you to manage your checking account online with a top-rated mobile app.

Read more about the best online checking accounts.

Discover Cashback Debit Checking Highlights
APY N/A, 1% cashback on debit spending
Minimum Deposit $50
Monthly Fees $0
Minimum Balance $0
Fee-Free ATMs 60,000 in U.S.

discover logo

Promotions: up to $360

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Aspiration Spend & Save™

Aspiration Spend & Save is an online-only checking account that charges no fees and even pays you cash back on some purchases. It’s a great way to reach your financial goals.

When you shop with socially conscious retailers, you can earn up to 10% cash back on your purchases. When you purchase with these retailers, you are making a positive contribution to the world.

You will notice the savings trickle in, little by little, as you go about making your normal transactions.

Aspiration pays you back all ATM fees that other banks charge at Allpoint ATMs. Aspiration is the perfect bank for anyone who wants to save money on fees while still having access to a wide range of banking services.

How can they make this work? Setting achievable goals and timelines can help ensure the success of the project. Aspiration saves a lot of money with no branches and a small staff. They have enough left over to donate 10 percent of their profits to charity.

The business model helps you save a little money every day, but it has a downside: getting help from customer service will usually take longer compared with a traditional, neighborhood bank. The convenience of online banking is often worth the wait.

Aspiration Spend & Save Highlights
APY up to 5%
Minimum Deposit $10
Monthly Fees $0 – $7.99
Minimum Balance $0
Fee-Free ATMs 55,000+ Allpoint ATMs

aspiration logo

Promotions: None

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at Aspiration

Consumers Credit Union Checking

Consumers Credit Union is open to the public and offers one of the highest checking account opportunities we have ever seen, up to 4% on balances up to $15,000. Consumers Credit Union is a great option for people who want to maximize their savings potential. That is more than the national average. The average salary for this job is higher than other jobs in the same field.

There are no monthly fees for the Serious Interest Checking account. Customers can get a competitive interest rate on this account. You only need $5 to open an account. There are no monthly fees or minimum balance requirements.

You can enjoy unlimited reimbursement for all ATM fees. The card doesn’t have an annual fee or foreign transaction fee. When you meet your minimum rewards checking requirements, they offer over 30,000 surcharge-free ATMs nationwide.

Fees for any of these actions will not be charged to you, and fees for foreign transactions will not be charged to you. You can save money on your international purchases by taking advantage of the best rates.

This account offers online banking, bill-pay, mobile banking, and unlimited check writing. The bank offers a competitive interest rate on all deposits.

To qualify for the highest APY, you will need to maintain a $1,000 daily balance, complete 12 monthly debit card transactions, and have $1,000 in recurring direct deposit or ach credits. We recommend that you take advantage of all the qualified activities to maximize your savings.

Consumers Credit Union Checking Highlights
APY up to 4.00%
Minimum Deposit $5
Monthly Fees $0
Minimum Balance $0
Fee-Free ATMs ∞ (Fee reimbursement)

capital one logo

Promotions: None

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at Consumers Credit Union

Axos Bank Rewards Checking

Lack of fees, solid rates, and domestic ATM reimbursements – It’s all in the Axos Bank rewards checking account. Whether you’re looking for convenience, flexibility, or a little extra cash, an Axos Bank rewards checking account could be the perfect fit for you.

There are no monthly balance requirements or maintenance fees, and you can reap some excellent rewards, but you will need to qualify as stated below. You have access to features such as free ATM withdrawals, no minimum deposit requirements, and no foreign transaction fees.

To earn the highest APY, you will need to receive at least $1,500 in monthly direct deposits, and use your debit card for at least 10 transactions worth at least $3.

If you meet the criteria – Axos Rewards Checking offers one of the best checking account APYs on the market.

The minimum balance to open an account is $50. Access to free online banking and mobile banking is offered by this account.

Axos Bank Rewards Checking Highlights
APY up to 1.25%
Minimum Deposit $50
Monthly Fees $0
Minimum Balance $0
Fee-Free ATMs ∞ Domestic (Fee reimbursement)

axos bank logo

Promotions: up to $300

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at Axos Bank

Betterment Checking

Betterment has taken free checking to a new level. Betterment has created a simple and secure way to manage your finances. You will avoid the monthly fee, but not because you meet certain criteria. Depending on your usage, you may be charged additional fees. Betterment doesn’t charge the fee. Betterment has a low cost and no fee structure.

Betterment is an online investment advisor that helps you make the most of your money. Whether you’re just getting started investing or already have experience, Betterment has a range of services to help you make smart financial decisions.

One of my favorite things about Betterment Checking is the ability to transfer money in and out of your Betterment robo-advisor account seamlessly — no more waiting three or four business days for the money to materialize.

Betterment will also reimburse you for other bank’s No matter where you are in the world, the surcharge at the ATM is the same. The surcharge can be as much as several dollars per transaction. Betterment automatically pays you back if you receive this reimbursement again. Betterment will take care of the reimbursement process quickly and easily.

Betterment Checking reimburses Visa’s standard 1-percent fee on international transactions when you use your card.

No overdraft fees is the biggest freebie of them all. You won’t be hit with any unexpected charges if you manage your finances with peace of mind. Betterment does not charge them. Betterment earns revenue through the fees it charges on investments made by its customers. You won’t get a hit if you slip into the red by accident. This could be devastating if you’re already in financial trouble. Betterment will pull from your other accounts if you don’t make a deposit quickly. Your deposit won’t be completed if you don’t have enough funds in other accounts.

Betterment works with Mint and TurboTax. It’s easy to track your finances and maximize your deductions.

Betterment Checking Highlights
APY 1.10%
Minimum Deposit $0
Monthly Fees $0
Minimum Balance $0
Fee-Free ATMs ∞ (Fee reimbursement)

Receive up to 1 year of investments managed fee-free with all new accounts. If you take advantage of this offer, you will be able to invest for your future.

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at Betterment

Chase Total Checking

Chase is well-known for its credit cards and frequently offers some of the best bank promotions.

The $200 sign-up bonus is the main reason I couldn’t leave this one off the list. It’s easy to get some extra money. Offer expires 04/19/2023.

There are ways to avoid the Chase Total Checking fees. There are no monthly maintenance fees for Chase Total Checking accounts. If you maintain a minimum balance of $1,500 or $500 in direct deposit each month, you can waive the $12 monthly fee. For those unable or unwilling to meet the qualifications for fee waivers, there are other ways to reduce or avoid fees such as researching banks with lower fees or looking into pre-paid cards.

Only one of their 16,000 ATMs can be used to withdraw money for free. There may be a fee associated with using an ATM that is part of their network. You will be charged $2.50 for each transaction within the U.S. and $5 international. If you want to pay quickly and easily, we recommend using a credit or debit card.

Text banking can be used for checking balances and transaction history. Text banking allows you to access your account information on the go.

Chase offers account warnings to warn you of over-drafting and account security.

Chase is a great choice for customers looking for a big brand with many product lines. All financial needs can be met with a variety of banking solutions from Chase.

Note: If you have a had trouble with checking accounts in the past, consider the Chase Secure Banking account which is offering a $100 bonus.

Chase Total Checking Highlights
Minimum Deposit $0
Monthly Fees $0, with qualifying activities
Minimum Balance $0
Fee-Free ATMs 16,000+

ally bank logo

Promotions: $200 signup bonus

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at Chase

Chime Deposit Account

You may have heard of Chime (one of the best bank accounts for millennials!) – a fast-growing mobile bank that offers low-cost banking. Chime makes it easy to put money into a savings account. It has budgeting tools to help you keep track of your spending. Chime gives you an optional Savings Account when you open your bank account. You can easily save money with a Chime Savings Account because you don’t have to think about it.

Chime has a free checking account that comes with many attractive features like no foreign transaction fees, Early Direct Deposit, and access to over 60,000 fee-free ATMs.

Chime will round up your spending to the nearest dollar and transfer it to your automatic savings account when you use your Chime Visa Debit Card. This will allow you to save money without having to think about it.

Chime’s Early Direct Deposit feature allows you to get a jump on your paycheque. Chime’s Early Direct Deposit feature gives you access to your pay two days earlier than other banks, so you can take care of bills and plan for the week ahead without worrying about when your paycheck will arrive.

It’s possible to get paid up to two days early because of Early Direct Deposit, because it takes up to two business days to deposit paper checks. When you need access to funds quickly, this is helpful.

Chime has a top-rated mobile app (4.7 stars on the App Store, 4.6 on Google Play) and access to 38,000 atms

Chime Deposit Account Highlights
APY N/A, 1% cashback on debit spending
Minimum Deposit $0
Monthly Fees $0
Minimum Balance $0
Fee-Free ATMs 38,000+

chime logo

Promotions: None

Get Started

at Chime

nbkc Personal Checking

It is an excellent free checking account option that will save you money and help you earn interest. It’s a great choice for those on the go because you can easily access your funds and manage your account online or with the mobile app.

Many of its competitors require you to maintain an average minimum amount in your account, which can be anything from a $1,000 to $50,000. This account has no monthly service fees, making it a great option for people who want to maximize their savings.

Many of the tasks that other banks charge you for are not included in the fee. NbKC is committed to providing you with the highest quality banking service that you can rely on.

You will be charged for sending domestic and international wires, and other fees may apply, so always check the fine print. The fees associated with wiring money can vary greatly, so it’s important to review the details of your wire transfer closely.

You can add your nbKC Personal Account card to your digital wallet and perform common banking tasks from the nbKC mobile app. The Quick Balance feature can be used to check your account balance without logging in.

MoneyPass® ATMs in the U.S. allow you to withdraw money. You can get Puerto Rico for free. The offer is available in the contiguous United States,Hawaii, Alaska, Washington DC, Guam, American Samoa, Northern Mariana Islands, US Virgin Islands. If you get charged withdrawal fees at any other ATMs in the world, you can get up to $12 in monthly refunds. Real-time updates on all refunds are offered by the nbKC app, which you can use to keep track of your refunds.

nbkc Personal Checking Highlights
APY .75%
Minimum Deposit $5
Monthly Fees $0
Minimum Balance $0
Fee-Free ATMs 32,000+ MoneyPass® ATMs

nbkc logo

Promotions: None

Capital One 360 Checking Account

Another excellent no-fee checking account is the Capital One 360 Checking Account. It has convenient features like the ability to deposit checks.

With a top-rated mobile app (4.7 stars on the App Store and Google Play), It is easy to transfer money, manage accounts, and deposit checks at Capital One.

Fees for any of these actions will not be charged to you, and fees for foreign transactions will not be charged to you. You can withdraw from any ATM without paying a fee.

Capital One offers an annual percentage yield of 0.10% on all balances. It allows you to make payments with ease.

Capital One 360 Checking Highlights
APY 0.10%
Minimum Deposit $0
Monthly Fees $0
Minimum Balance $0
Fee-Free ATMs 70,000+

capital one logo

Promotions: None

Ally Bank Interest Checking

Ally Bank has a completely free checking account that gives you a boost with rates of 0.10% and 0.25% on balances of less than $15,000 and at least $15,000, respectively. Ally Bank’s checking account has no monthly fees or minimum balance requirements.

There are no minimum opening deposits or minimum balance requirements with Ally Bank Interest Checking Account. You will have access to their free online banking and mobile app, which will allow you to manage your money wherever you are.

You can withdraw money for free at any of the Allpoint ATMs. Plus, if you do get charged fees at any other ATM in the U.S., Ally Bank will pay up to $10 per statement cycle. The reimbursement will be applied to the ATM fees incurred by the customer.

Ally bank has a top-rated mobile app. You can check your balance and make payments with the app.

A good customer experience and competitive rates are what Ally is known for. She provides tailored solutions that make the process of selecting a financial institution more convenient.

Ally Bank Highlights
APY 0.10% – 0.25%
Minimum Deposit $0
Monthly Fees $0
Minimum Balance $0
Fee-Free ATMs 43,000+ Allpoint® ATMs

ally bank logo

Promotions: None

Finding the Best Free Checking Account for You

Paying for a checking bank account isn’t something you have to put up with – not when there are so many excellent free options that can help you save money, as well as allow you to earn solid interest rates.

It depends on your financial needs and the extras you want. It’s important to read the fine print and understand the terms and conditions of each account before making a decision. Before you make a decision, you need to know what your financial needs are and do your homework.

Make sure you can hit the minimums if you want a high APY. Some accounts have a higher minimum balance requirement but no associated fees. It’s also always a good idea to keep a checking account buffer.

Many of the free checking account providers are online banks, so there are no physical branches. Some services may offer limited access to cash and other banking amenities, so you should check the details before signing up. It won’t be a problem for you if you don’t see a customer service representative face-to-face. If you ever need assistance that can’t be provided over the phone or online, it’s important to factor in the potential wait times.

Are you interested in learning how to manage your money better? Check out my 18 legit personal finance tips to get actionable advice on how to make, save, and invest your money to help you speed up your journey to financial freedom!

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