7 Banks Offering Free Checking With No Minimums

Zero fee
Photo by create jobs 51 / Shutterstock.com

Those of us past a certain age remember when nearly all checking accounts were free. Today, it’s tough to find a bank offering fee-free checking.

But such accounts do exist. You just have to know where to look. Following are seven banks that offer free checking with no minimum balance required.

EverBank Yield Pledge Checking

EverBank’s Yield Pledge Checking account comes with no monthly fees. In addition to having no fees, it pays a one-year introductory interest rate of 1.21 percent on balances up to $250,000.

It also pledges to always pay a rate “in the top 5 percent of competitive accounts based on the Bankrate.com National Average survey data from the last week of each month.”

Ally Bank Interest Checking

Not only does Ally’s Interest Checking account promise no maintenance, fees, but Ally also will pay you — in the form of interest — to keep the account open.

Keep a daily balance under $15,000, and you’ll earn an annual percentage yield of 0.1 percent. Balances of $15,000 or more earn an APY of 0.6 percent.

Discover Bank Cashback Checking

Discover’s Cashback Checking account does not charge any fees, and it allows you to earn 1 percent cash back on up to $3,000 in debit card purchases each month.

Capital One 360 Checking

Capital One’s 360 Checking account is fee-free, and you’ll earn interest at various rates depending on how much you keep in the account. For example,

  • Up to $49,999.99 earns 0.2 percent
  • $50,000 to $99,999.99 earns 0.75 percent
  • $100,000 or more earns 1 percent

TIAA Direct Interest Checking

TIAA Direct — the online banking division of TIAA, the financial services company formerly known as TIAA-CREF — offers an account called Interest Checking with no monthly fees.

Balances up to $9,999.99 earn 0.25 percent APY. Rates gradually increase above those levels, with a payout of 0.71 percent APY with balances of $100,000 and above.

State Farm Bank Personal Checking

State Farm Bank — yes, it’s affiliated with the insurance company — offers a personal checking account that comes with no monthly fees.

Bank5 Connect High-Interest Checking Account

Finally, Bank5 Connect’s High-Interest Checking Account is fee-free. Although this bank is less well-known than others on the list, it offers a major plus: high rates of return on even small balances.

For example, with a deposit of as little as $100, you will earn 0.76 APY in interest.

Do you know of more free checking accounts? Share them by commenting below or on our Facebook page.

How to find cheaper car insurance in minutes

Getting a better deal on car insurance doesn't have to be hard. You can have The Zebra, an insurance comparison site compare quotes in just a few minutes and find you the best rates. Consumers save an average of $368 per year, according to the site, so if you're ready to secure your new rate, get started now.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next
6 Things That Are ‘Free’ With Medicare
6 Things That Are ‘Free’ With Medicare

These services could save you money and help prevent costly health problems.

9 Forgotten Frugal Strategies — and How to Resurrect Them
9 Forgotten Frugal Strategies — and How to Resurrect Them

These time-tested methods can help us live smarter today.

This Type of Social Security Benefit Is Often Overlooked
This Type of Social Security Benefit Is Often Overlooked

The Social Security Administration is not helping certain people get money to which they are entitled, a report says.

60% of People With This Disease Don’t Know They Have It
60% of People With This Disease Don’t Know They Have It

Millions of people overlook this potentially potent condition that tends to strike women and older adults.

9 Genius Storage Solutions for Your Home
9 Genius Storage Solutions for Your Home

These creative products on Amazon will hide unsightly clutter while saving space.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
This Gas Station Scam Is Victimizing More Drivers
This Gas Station Scam Is Victimizing More Drivers

For the second straight year, a growing number of Americans believe they’ve fallen prey to this scam.

7 Unusual Ways to Declutter Your Home
7 Unusual Ways to Declutter Your Home

Tired of possessions weighing you down? Here are seven ways to declutter painlessly and effectively.

7 Ways to Boost Your Credit Score Fast
7 Ways to Boost Your Credit Score Fast

Your financial security might soon depend upon the strength of your credit score.

This Is the Most Popular Age for Claiming Social Security
This Is the Most Popular Age for Claiming Social Security

Both men and women are most likely to start receiving Social Security benefits at this age.

21 Things You Should Always Buy at a Dollar Store
21 Things You Should Always Buy at a Dollar Store

Dollar stores have great bargains on both everyday and occasional purchases.

6 Things You Should Never Buy at Trader Joe’s
6 Things You Should Never Buy at Trader Joe’s

We love Trader Joe’s for plenty of reasons. But think twice about this handful of products.

Could You Give Up These 7 Expenses to Save Thousands of Dollars a Year?
Could You Give Up These 7 Expenses to Save Thousands of Dollars a Year?

You could save more than $30,000 by setting aside these costly expenses for just one year.

Don’t Toss These 7 Household Items — Sell Them
Don’t Toss These 7 Household Items — Sell Them

Here’s how to earn cash as you give new life to these unwanted items.

6 Legal Documents Retirees Need — but Don’t Have
6 Legal Documents Retirees Need — but Don’t Have

Few retirees have these documents that are crucial to their golden years — especially during a pandemic.

19 High-Paying Jobs You Can Get With a 2-Year Degree
19 High-Paying Jobs You Can Get With a 2-Year Degree

These jobs pay more than the typical job in the U.S. — and no bachelor’s degree is required.

Eat This Food If You Want to Avoid Alzheimer’s Disease
Eat This Food If You Want to Avoid Alzheimer’s Disease

One type of food associated with the Mediterranean diet offers especially large benefits.

11 Expenses That Quietly Drain Your Wallet
11 Expenses That Quietly Drain Your Wallet

It’s scandalously easy to overspend in these areas of your life.

9 Dumb Ways You Are Ruining Your Home Value
9 Dumb Ways You Are Ruining Your Home Value

Homeowners, beware these mistakes that can drive away potential buyers.

18 Amazon Purchases That We Are Loving Right Now
18 Amazon Purchases That We Are Loving Right Now

These practical products make everyday life a little easier.

5 Awesome Places You Can Retire Overseas on $2,000 a Month or Less
5 Awesome Places You Can Retire Overseas on $2,000 a Month or Less

In this week’s podcast: tips on retiring overseas — from someone who’s been helping American expats for decades.

7 Tips for Building an Emergency Stockpile
7 Tips for Building an Emergency Stockpile

A pandemic or natural disaster could leave you reliant on your existing food supply. Is your pantry prepared?

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

15 Outrageously Overpriced Products — and How to Save on Them
15 Outrageously Overpriced Products — and How to Save on Them

Retailers mark up products by hundreds of times their cost — but you don’t have to pay the premium.

Why Half of Retirees Now Owe Taxes on Social Security
Why Half of Retirees Now Owe Taxes on Social Security

Growing numbers of seniors are paying taxes on their Social Security benefits, but you might be able to avoid this fate.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.