The 8 Best Free Checking Accounts of 2021

By having no fees certain banks offer free checking accounts. Luckily many banks are offering totally free checking accounts nowadays. You can take advantage of free services and no interest rates. Who said banking had to cost you more money?

There are a lot of banks out there and a lot of them will not charge you any fees. They have large ATM footprints, powerful apps, and reward systems. Below is a roundup of the best free checking accounts out there.

Table of Contents
  1. BBVA Bank Checking
  2. Discover Cashback Debit
  3. Ally Bank Checking
  4. Radius Bank
  5. NBKC Bank
  6. Chase Total Checking
  7. Chime Spending Account
  8. Axos Bank

BBVA Bank Checking

BBVA Bank Logo

BBVA Bank has two online checking accounts available for its customers – Free Checking and a Premier Checking.

The BBVA Free Checking account has no monthly service fees and no minimum balance along with access to its own ATM network and that of Allpoint, bringing their total to 64,000 ATMs nationwide.

Their Premier Checking account is similar except you earn a little bit of interest plus an automatic rebate of 2 ATM fees per month charged by other banks. There is a $19 service charge that is waived with qualifying $4,000 in monthly direct deposits or having an average daily balance of over $4,000.

BBVA Free Checking is available in Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas. If you live elsewhere, you have the option of Online Checking. This is a similar product except there is a $3 paper statement fee (waived if you get free e-statements). You can learn more about them in our BBVA Bank review.

Member FDIC.

Learn more about BBVA Free Checking

Discover Cashback Debit

Discover Bank Logo

Discover Bank has a great checking account that offers cashback debit – you can get 1% cash back on up to $3,000 in purchases each and every month. Add that up and it’s $360 in cash back per year just to use your debit card, a reward that is extremely rare on this type of account.

This is on top of Discover’s history of being a very affordable, low fee bank. There is no monthly maintenance fee, 60,000+ no-fee ATMs, no fees for ATM use at other ATMs (though other banks may still charge a fee), free standard checks, free online bill pay, and free debit card replacement.

Why we like it: The debit card pays you 1% cashback. Debit cards rarely give you cashback and this account gives you 1% on up to $3,000 each month – an annual total of $360 – and it’s automatically deposited into your Discover savings account.

Learn more about Discover Cashback Debit

Ally Bank Checking

Ally Bank Logo

I use Ally Bank. I’ve been using them for years because they’re one of the best online banks out there. Ally Bank has an entire suite of deposit products that are best in class, with high interest rates and low fees.

The checking account has no maintenance fees and no minimum balance. You get free ATM access via the Allpoint ATM network but if you find yourself using another bank’s ATM, Ally will reimburse you $10 in ATM fees every statement cycle (this is the fee the other banks charge, Ally doesn’t charge you). Finally, there is a fully-featured mobile app with mobile check deposit. If you prefer to deposit via mail, you can do that too.

Why we like it: It’s everything you want in a checking account PLUS it pays you interest. The rate is far higher than any brick and mortar bank out of the water and almost every other online bank too. It’s also part of Ally Bank’s other deposit products, like certificates of deposit and savings accounts, which are also best in class as well.

Learn more about Ally Bank
(here’s a full review of Ally Bank)

Radius Bank

Radius Bank is a Boston, MA-based bank founded in 1987 and offers fantastic rewards on their checking account. With the Radius Bank Rewards Checking account, you can earn unlimited 1% cashback on signature-based “credit” transactions on their debit card plus a high rate of interest. The interest rate is 0.75% APY on balances from $2500 to $99,999.99 and 1.00% APY on balances above $100,000.

You can also pair this with their savings account, which yields 1.15% APY on balances of $25,000 and up and 0.75% APY on balances $2,500 to $24,999.99. It’s a solid combination when you consider the rewards on the debit card have no limit.

You get free ATMs worldwide and just need $100 to open an account, but otherwise has no account minimums. There is no monthly maintenance fee and no minimum balance.

For a complete look at them, check out our Radius Bank review.

Why we like it: Unlimited 1% cash back rewards on an account that can bear interest (if your balance is over $2,500) is a good combination to have.

Learn more about Radius Bank Rewards Checking

NBKC Bank

nbkc bank logo

While not a household name, NBKC Bank is making a name for itself with a personal account that offers a on all balances. It’s an online-only bank, the interest rate is one of the best on this list (without strings), and it has no minimum or maintenance fee. There is also a fully-featured mobile app with mobile deposit, a must nowadays.

They leverage the 32,000+ MoneyPass ATMs so you can use them for free but they will also reimburse you $12 for ATM fees other banks charge you when you use their ATMs. All in all, it’s a solid online bank with a decent interest rate.

Why we like it: It’s a good interest rate. As of this writing, Ally Bank’s checking account only offers 0.10% on balances under $15,000 and a mere 0.60% on balances that are above $15,000. in interest plus all the other perks, it’s a solid choice.

Learn more about NBKC Bank
(read our review of NBKC Bank for more details)

Chase Total Checking

Chase Total Checking is the only checking product on this page that will pay you money to sign up for it. Chase will give you $200 if you open a new account and set up a direct deposit within 90 days. If you do all this, you’ll get $200 in 10 business days.

There is a $12 monthly service fee that gets waived if you have a monthly direct deposit of at least $500 or keep a minimum daily balance of $1,500 OR have $5,000+ in any combination of Chase savings, checking, and other accounts. Whew!

Why we like it: $200. The account doesn’t offer interest, which is common from a major bank, but it does give you $200 and a massive geographic footprint.

Available online nationwide except in Alaska, Hawaii, and Puerto Rico. For branch locations, visit locator.chase.com.

Learn more about Chase Bank

Chime Spending Account

Chime Logo

Chime offers a lightweight mobile bank account with an automatic savings angle. (they also used to have a rewards program but that was discontinued)

With the Chime Spending Account, there are no monthly fees, no minimum balance or overdraft fees plus you can use any of the 30,000+ free MoneyPass ATMs. Another nice perk is their early direct deposit service that gives you access to your paycheck up to 2 days early – one of the first I’ve seen.

The only knock against them is the interest rate… it’s negligible (rare for an online bank but considering the perks, it makes sense).

Why we like it: Getting access to your paycheck two days early is a nice perk. They have an Automatic Savings service that rounds up your purchases, which is a trend in microsaving apps, but the interest rate is a bummer.

Learn more about Chime Bank

Axos Bank

Axos Bank

Axos Bank, formerly Bank of Internet USA, is a rewards checking account that offers an interest rate as high as 1.25% APY if you meet some of the reward checking account requirements. If you can meet them, 1.25% APY is one of the highest in the nation for a checking account.

The rewards program is tiered, which means you get a higher interest rate when you meet more of these conditions:

  • Receive monthly direct deposits totaling $1,000 or more: Earn +0.4166%
  • Use your Bank of Internet USA Visa® Debit Card at least 10 times (minimum $3): Earn +0.4166%
  • Use your Bank of Internet USA Visa® Debit Card 5 more times (minimum $3): Earn +0.4166%

If you use your debit card 10 times, you will earn 0.4166% APY on your account. If you use it 2 more times, you still only earn 0.4166%. If you used it 5 more times, for a total of 15, then you earn 0.8332% APY. Finally, receive monthly direct deposits of at least a thousand bucks and get the full 1.25% APY.

There is no minimum balance, no maintenance or service fees, as well as unlimited ATM reimbursements when you use another bank’s ATM. There is a fully-featured mobile app with mobile deposit, bill pay, etc.

Why we like it: Rewards checking accounts, like those powered by Kasasa banking, are great because they offer higher interest rates often for things you’re already doing. If you are making 15 transactions a month and get $1,000+ in direct deposits, why not take the higher interest? (unlimited ATM fee reimbursement is nice too!)

Learn more about Axos Bank

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Jim Wang

About Jim Wang

Jim Wang is a thirty-something father of three who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and a farm in Illinois via AcreTrader.

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  1. Dave says

    Liberty First Credit Union, Lincoln, NE Kasasa checking acct. 4% interest up to $40K balance, .15% over $40k, THE very best in the country !

  2. Jon Vawter says

    All of the above 8 financial institutions are “banks”; please include or have a separate article on “credit unions” which include those paying 3% to 7% on their checking accounts balances; yes, each have their requirements like 10 to 15 debit/credit transactions, a direct deposit of $100+ each month and/or other requirements.
    Consumers deserve a better alternative.

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