Best Free Checking Accounts for February 2025

The best checking account should help you manage everyday purchases, and it shouldn't cost you a penny.

Free checking accounts don't charge monthly service fees. Many of them also offer free overdraft protection and reimburse a certain amount in out-of-network ATM fees each month. These types of perks can save you money when you bank.

Best Free Checking Accounts for February 2025

Beyond waiving monthly service fees, the best checking accounts offer benefits like sign-up bonuses and early direct deposit.

• Capital One 360 Checking: Best overall for avoiding common bank fees
• Huntington Asterisk-Free Checking® Account: Best for a traditional bank experience
• Consumers Credit Union Free Rewards Checking Account: Best for credit unions
• Discover® Cashback Debit Account: Best for cash-back rewards
• SoFi® Checking and Savings (Member FDIC): Best for a cash bonus
• Axos Bank Rewards Checking: Best for a high interest rate
• Ally Spending Account: Best for financial tools
• Schwab Bank High Yield Investor Checking® Account: Best for avoiding ATM fees
• Chime® Checking Account: Best second chance checking account
• Capital One MONEY Teen Checking Account: Best for teens

Compare the Top No-Fee Checking Accounts

We reviewed over 200 checking accounts to determine the best options for free checking accounts. We wanted to provide various options so our top picks for no-fee checking accounts stand out for different reasons. We selected checking accounts from traditional financial institutions as well as investment platforms and fintech companies — in case you want a more traditional or alternative checking account.

For each checking account, we noted why it stands out. For example, the best free checking accounts may distinctly offer the best interest rate, cash bonus, or financial tools.

Capital One 360 Checking

Capital One 360 Checking® is a well-rounded checking account and an excellent choice if your priority is to avoid common fees. With this Capital One checking account, there are no monthly service fees, no foreign transaction fees, and a variety of overdraft protection options.

Capital One 360 Checking® also has several notable perks to make your banking experience manageable. For example, the account offers a two-day early direct deposit, and the ability to deposit cash at ATMs and nearby CVS locations. Furthermore, all balances earn 0.10% Annual Percentage Yield (APY).

Though Capital One Cafés are popping up in big cities around the U.S., the bank only operates about 280 branches in nine states. You'll likely have to be comfortable with a fully online banking experience.

Capital One Bank Review

Huntington Bank Asterisk-Free Checking

The Huntington Asterisk-Free Checking® Account doesn't charge monthly service fees and has a $0 minimum opening deposit. These are more lenient opening requirements than other traditional checking accounts.

Several national brick-and-mortar banks — like Chase, Bank of America, and Wells Fargo — charge monthly bank maintenance fees on checking accounts if you do not meet certain monthly requirements. However, Huntington Bank doesn't, so it's a good choice if you value a traditional banking experience.

Branches are primarily limited to the following states: Ohio, Colorado, Florida, Illinois, Michigan, Minnesota, Pennsylvania, West Virginia, and Wisconsin. The bank has around 1,000 branches and 1,600 ATMs, so it has mostly a regional presence. If you don't live in one of these areas, you'll have to consider a different bank.

Huntington Bank Review

Consumer Credit Union Free Rewards Checking Account

You may like Consumers Credit Union Free Rewards Checking Account if you favor credit unions over banks.

While you can bank online, Consumers Credit Union also has 15 open branches in Chicago, Illinois, and nearby cities. Members also have access to the CO-OP Shared Branch and ATM network, which has over 5,600 shared branches and 60,000 surcharge-free ATMs.

The Consumers Credit Union Free Rewards Checking Account stands out for its competitive interest rate. You may earn up to 5.00% APY on the first $10,000 in your account and receive unlimited out-of-network ATM reimbursements if you meet certain requirements.

Here's how the account's tiered interest rate works:

• Earn 3.00% APY if you have less than $10,000 when you sign up to receive eDocuments, make 12 monthly debit card purchases, and receive $500 in monthly direct deposits, mobile check deposits, or transfers from other banks
• Earn 4.00% APY if you meet the requirements to earn 3% and spend $500 per month with your Consumers Credit Union Credit Card
• Earn 5.00% APY if you meet the requirements to earn 3% and spend $1,000 per month with your Consumers Credit Card
• Earn 0.20% APY if you have an account balance between $10,000.01 and $25,000 when you receive eDocuments, make 12 monthly transactions, and receive $500 per month in direct deposits, mobile check deposits, or transfers from other banks
• Earn 0.10% APY if you have an account balance over $25,000 when you receive eDocuments, make 12 monthly transactions, and receive $500 per month in direct deposits, mobile check deposits, or transfers from other banks

If you don't meet the requirements, though, you'll only earn 0.01% APY on your account balance.

You'll need to become a member to open a bank account at Consumers Credit Union.

Anyone in the US is eligible for membership online. To become a member, pay a one-time membership fee and open the Consumers Credit Union Membership Share Savings Account with at least $5.

Consumers Credit Union Review

Discover Cashback Debit Account

With the Discover® Cashback Debit Account, you can earn 1% cash back on up to $3,000 in debit card purchases per month.

This rewards checking account is also the top option for this category because it's an all-round strong free checking account. It has no monthly service fee, no overdraft fees, and multiple overdraft services so that transactions can be processed instead of declined.

You can also make free cash deposits using your debit card at Walmart stores. Other online checking accounts don't allow you to make cash deposits or charge a fee for using a participating retailer.

Some of our other top picks are probably a better fit if you use ATMs frequently. You can make no-free transactions at MoneyPass and AllPoint ATMs, but out-of-network providers can charge fees. Other banks on our list will reimburse you for these fees.

Discover Bank Review

SoFi Checking and Savings

SoFi® Checking and Savings (Member FDIC) is a strong choice if you don't want to deal with monthly service fees, overdraft fees, or out-of-network ATM fees.

It's also offering a cash bonus of up to $300, which is one of the best checking account bonuses available right now. You may qualify for the bonus as long as you're a new SoFi® Checking and Savings (Member FDIC) customer, or an existing SoFi® Checking and Savings (Member FDIC) customer who hasn't set up direct deposits yet.

To get the reward, you have to meet the following requirements:

• Open SoFi® Checking and Savings (Member FDIC) by January 31, 2026
• To earn a $50 cash bonus, you must receive between $1,000 and $4,999.99 in qualifying direct deposits during the first 30 days of opening an account
• To earn a $300 cash bonus, you must receive over $5,000 in qualifying direct deposits during the first 30 days of opening an account

The account works best if you set up a direct deposit. That way, you'll qualify for the cash bonus and the highest-tier interest rate.

SoFi Review

Axos Rewards Checking

Axos Rewards Checking may be appealing if you're looking to earn a high interest rate on a checking account.

For this account, Axos Bank offers up to 3.30% APY on balances up to $50,000. Account balances over $50,000 won't earn interest, though.

To earn the highest APY you must fulfill all of the following steps: 

• Receive at least $1,500 in direct deposits in a month. You have to meet this requirement to be able to earn any additional interest.
• Make 10 debit card transactions in a month (minimum $3 per transaction) or you need to sign up for Account Aggregation/Personal Finance Manager.
• Keep at least a daily average of $2,500 in an Axos Invest Managed Portfolios Account monthly.
• Keep at least a daily average of $2,500 in an Axos Self-Directed Trading Account monthly.
• Make a monthly Axos consumer loan payment with your Reward Checking account.

If you prefer a traditional banking experience, you won't be able to get these accounts. Axos is an online-only bank.

Axos Bank Review

Ally Spending Account

The Ally Spending Account may be a good option if you want a checking account that has financial tools. Ally lets you create spending buckets to help manage your expenses. You can create categories, like "groceries" and "rent," and then move money that you already have in your Spending account to keep yourself organized.

You can create up to 30 buckets in one account, and it's a free tool to use.

The Ally Spending Account also is a generally well-rounded account. It pays interest, it has a $0 minimum opening deposit, no monthly service fee, and no overdraft fees.

Ally is also one of our top picks for the best online banks because it has other strong banking products for saving and investing.

Ally Spending Account Review

Schwab Bank High Yield Investor Checking Account

Charles Schwab High Yield Investor Checking doesn't charge ATM fees, and the bank offers unlimited refunds worldwide when an ATM provider charges you a fee. Charles Schwab also doesn't charge foreign transaction fees, and it has free overdraft protection.

You must open a brokerage account with Charles Schwab before opening a checking account.

Charles Schwab Bank Review

Chime Checking Account

The Chime® Checking Account is a second chance checking account, which is a bank account that does not require a credit check or review by ChexSystems to evaluate your trustworthiness.

If you've struggled to open a bank account at a financial institution due to your bank account history, Chime is a great option. Chime also stands out because it doesn't charge monthly service fees, and you may open an online account from anywhere in the U.S.

Chime's SpotMe® feature allows you to overdraw by up to $200 with no overdraft fee — but you must receive $200 in direct deposits each month to qualify for SpotMe. Your transaction will be denied if you need to overdraw by more than the limit.

Chime Review

Capital One MONEY Teen Checking Account

The Capital One MONEY Teen Checking Account is featured in our best teen checking accounts guide and could be a good choice if want to teach your child how to manage a checking account.

This teen checking account has budgeting tools to help teens save and parental monitoring features to track spending and apply limits if necessary. You may open the Capital One MONEY Teen Checking Account for a minor over the age of eight. You'll also be able to link this teen bank account to any checking account, even if it isn't a Capital One account.

You'll only be able to open the Capital One MONEY Teen Checking Account online, not at a Capital One location.

Which Banks are the Most Trustworthy?

We assess the ethics of each bank, so you can see if a specific financial institution aligns with your values.

We include the settlement history of the last 3 years so you're aware of any recent public controversies involving the bank.

The Better Business Bureau assigns companies grades, ranging from F to A+. A good BBB grade indicates a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.

Here are the BBB grades for our top picks:

Chime's B- rating is because the company has received a high volume of customer complaints on the BBB website and government action was taken against the company.

A strong BBB grade doesn't guarantee you'll have a smooth relationship with a company, though. We've also looked at any public scandals.

Discover and Capital One have been involved in recent public controversies.

In 2024, Discover settled a class action lawsuit from DACA recipients. The lawsuit said that Discover unlawfully denied DACA recipients loans because of their immigration status. Discover will pay $979,500 as part of the settlement. Discover does not admit wrongdoing by settling, and it maintains that it complied with the law.

In January 2025, the Consumer Financial Protection Bureau sued Capital One. The CFPB says that Capital One unlawfully misled customers about what the best interest rate was on Capital One savings accounts, leading to consumers missing out on more than $2 billion in interest payments.

Capital One used to have an account called 360 Savings. In 2019, Capital One launched the new 360 Performance Savings Account, which paid a much higher interest rate. Many customers thought their old savings accounts would transition into this new one, but in reality, they had to open a new 360 Performance Savings Account to earn the higher rate.

What Defines a Free Checking Account?

A free checking account is a type of bank account that doesn't charge monthly bank maintenance fees and has minimal common bank fees. You can learn more about monthly bank maintenance fees and common bank fees below.

Monthly Bank Maintenance Fees on Checking Accounts

Banks may charge you a bank maintenance fee (also known as a monthly service fee) to use their services. Monthly service fees can occur in checking accounts, money market accounts, or savings accounts.

Most banks offer ways to waive these fees. You might be asked to maintain an average daily balance, make a direct deposit, or complete certain transactions. Monthly service fees might also be automatically waived for some age demographics — most commonly, children, college students, or seniors.

If you want to avoid monthly service fees entirely, you could select a bank that doesn't charge any monthly service fees. Keep in mind online banks and credit union are more likely to have free checking accounts than brick-and-mortar banks.

Common Bank Fees on Checking Accounts

Common bank fees that apply to checking accounts include overdraft fees and out-of-network ATM fees.

An overdraft fee can happen if you take out too much money from your checking account, and the bank covers your overdraft, so your transaction goes through. You'll have to pay a fee on top of restoring your account balance so its positive again. 

Banks can charge out-of-network ATM fees when you use an ATM from another provider. For example, Chase will charge you when you use a non-Chase ATM.

Many free checking accounts do not charge overdraft fees and have free overdraft protection services so your transactions can be processed. Regarding out-of-network ATM fees, some of our top picks offer free monthly reimbursements.

Key Features to Look for in a Checking Account

In addition to bank fees, here are key features that you can use to compare and assess different checking account options:

• Opening requirements:The standard minimum opening deposit for a checking account is $25. However, some banks will let you get a checking account with $0, while others may require significantly more than the standard amount.
• ATM access:If you frequently use ATMs while traveling, you may prefer a bank that has a national ATM network. However, if ATM access doesn't play a significant factor in your banking experience, you might be fine with a regional or local ATM network.
• Online and mobile banking services:If you're comfortable managing your account primarily online, you might choose a checking account from a bank with one of the best mobile banking apps. J.D. Power conducts an annual study that ranks mobile and online banking customer satisfaction.
• Overdraft protection options:If you have overdrawn from your bank account, you will want to look for a checking account that has free overdraft protection options. For example, some banks will let you link your checking account to a savings account and make free transfers to restore your balance.
• Customer support availability:Customer support options vary widely at banks. You can find institutions that allow you to connect with representatives by phone, email, live chat, or mobile banking. Also, bear mind there are banks that have 24/7 customer support availability.

How to Open a Free Checking Account

Ensure you have all the information you need to open an account. Here's how to apply for a free checking account online or at a branch. If you have a negative banking history, also rest assured that you have options. You can look at second chance checking accounts which do not use your banking history to open an account.

Applying for a Free Checking Account Online

If you're applying for a free checking account online, most banks require you to provide a Social Security number. If you would rather use an ITIN number, generally, you'll have to apply at a bank's branch. You might also be asked to provide a copy of a government-issued ID like a driver's license or passport.

You'll enter basic information like your name, address, phone number, and email. At the end, you'll also deposit your account.

Applying for a Free Checking Account at a Branch

When applying for a free checking account at a branch, you must provide at least two forms of identification as well as a proof of address.

Some brick-and-mortar banks permit immigrants and non-U.S. citizens to open a bank account using an alternative form of ID, although other financial institutions have stricter documentation requirements and require a social security number or ITIN.

You'll also have to share basic information about yourself as well as make an opening deposit.

Best Free Checking Accounts FAQs

Why You Should Trust Us: Our Expert Panel for the Best Free Checking Accounts

We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best checking accounts for your needs.

BI

We're focusing on checking accounts with no monthly maintenance fees, but we're also taking fees for foreign transactions, out-of-network ATMs, and more into consideration.

Here's what they had to say about checking accounts. (Some text may be lightly edited for clarity.)

What makes a checking account good or not good?

Roger Ma, CFP® professional and author of "Work Your Money, Not Your Life":

"I would look at the ATM branch locations and then minimum balance amounts to not incur a monthly fee. I think other stuff could make life easier, whether it's free checks, online bill pay, are they in the Zelle network?"

Sophia Acevedo, banking editor,Business Insider

"I would look for a checking account that either doesn't have any monthly services fees or offers multiple ways to waive the fee. I would also look at customer support availability and mobile app ratings."

How can someone determine whether a bank is the right fit for them?

Tania Brown, CFP® professional and vice president of coaching strategy at OfColor:

"Obviously, you want to make sure it's FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you're okay online. Do you write checks? Do you not write checks? So it's thinking through how your experience with it is going to be before you make that decision."

Mykail James, MBA, certified financial education instructor,BoujieBudgets.com:

"The No. 1 thing about a checking account is you should know what provider the debit card is coming from. And a lot of people don't think about that, because there are places that don't accept MasterCard or don't accept an Amex."

Methodology: How We Chose the Best Free Checking Accounts

First and foremost, we wanted to provide you with options. To find the best free checking accounts, we considered 200 checking accounts from mortar banks, online banks, credit unions, and online banking platforms.

We looked at how financial institutions charge other bank fees — for example, monthly service fees, out-of-network ATM fees, overdraft fees, or foreign transaction fees. If a financial institution offered a unique perk, like a high interest rate or a cash bonus, we evaluated the criteria needed to get the reward. For more about how we rate and review products, see our editorial standards page.

At Business Insider, we strive to help smart people make the best decisions with their money. We spent hours comparing and contrasting the features and fine print of 200 checking accounts so you don't have to.

We understand that "best" is often subjective, however, so in addition to highlighting the clear benefits of a checking account — no fees, for example — we outline the limitations, too.

Here is our bank account methodology so you can learn more about how we rate checking accounts.

We calculate reviews using a weighted average to get our star rating. That means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.

Sophia Acevedo

Banking Editor

Sophia Acevedo is a banking editor at Business Insider. She has spent three and a half years as a personal finance journalist and is an expert across numerous banking topics. ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, budgeting, and general saving. Sophia was also a part of Business Insider's 2024 series "My Financial Life," which focused on telling stories that could help people live and spend better. She's also covered the the following stories during her time at Business Insider: 

• Best budgeting apps
• Best banks
• How much should I save each month
• What happens if your bank fails
• 2025 savings rate forecast

Sophia has spent seven and a half years writing and editing as a journalist. She began her journalism career at her college newspaper, where she took on various roles.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE Accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circumstances and overcoming their fears around money.ExpertiseSophia's expertise includes:

• Bank accounts
• Savings and CD rate trends
• Budgeting
• Saving
• How banks operate

EducationSophia graduated from California State University Fullerton with a degree in journalism and a minor in political science.Sophia is a member of the National Association of Hispanic Journalists.She is an avid reader across a variety of genres, and she started running in 2021. She ran in the 2024 Los Angeles Marathon.

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Evelyn He

Compliance and Operations Associate

Evelyn He is a compliance and operations associate for Business Insider’s Personal Finance team. Evelyn ensures content accuracy and editorial independence so readers get the most up-to-date and objective financial advice, enabling them to make informed financial decisions.ExperienceAs part of the compliance team, Evelyn helps fact check Personal Finance stories and works to make sure that the language is clear, precise, and compliant with government regulations and partner guidelines. Previously, Evelyn worked as a compliance specialist for Apellis Pharmaceuticals and a legal assistant at the law firm Morrison Mahoney.ExpertiseEvelyn is an expert in the following areas:

• Compliance
• Quality assurance
• Affiliate marketing
• Search engine optimization (SEO)
• Content strategy

EducationEvelyn earned a bachelor’s degree in business administration from UMass Amherst and a master’s in marketing from Boston University.Evelyn has two dogs, Money and Tibber.

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