May 18, 2024


Obey Your Finance

4 of the Best Free Checking Accounts to Consider When Opening an Account

The 10 Best Free Checking Accounts | Dollar Flow

If you’re thinking about opening a new checking account, one of the things you might want to think about is monthly maintenance fees. While some people feel as though monthly maintenance fees for banks are somewhat going the way of the dinosaurs, it’s certainly true that many accounts still have these fees. If you want to save yourself a decent chunk of money every year, a free checking account can be the solution. Here are four of the best free checking accounts to consider if you’re signing up anytime soon.

1. Axos Essential or Rewards Checking

Axos is an online-only bank that gives you some of the best bang for your buck that you’ll see online. Axos Essential has a $0 opening requirement and a $0 minimum requirement, while Axos Rewards has a $50 minimum opening deposit. Depending on your unique needs, either one of these could be a good option for you; you can get up to 1% APY with Axos Rewards if you’re able to meet the specific rewards requirements.

2. Chime Spending Account

Technically, Chime isn’t a checking account, and is instead a “spending account.” However, in practice, the two things are remarkably similar, which means it’s a great choice if you’re looking for a free checking account. It was one of the first banks out there to offer no overdraft fee, which means the fee structure is certainly much lower than many of the other banking companies you may see.

3. CIT Bank eChecking

Though it requires a relatively high $100 minimum opening deposit, CIT Bank is a great starting point for mostly fee-free checking from an interest-bearing account. Plus, while it has its own ATM network, the bank will also reimburse up to $30 per month in fees from other banks’ ATMs, making it easy for you to get cash whenever you need it without worrying about ATM fees.

4. Betterment Checking

You likely know Betterment best from its online investment options, but it actually also offers a free online checking account. It’s set up as mobile-first, so checking your account status is simple and easy. You can also get unlimited fee reimbursements from ATMs anywhere in the world, and you’ll even get a reimbursement for foreign transaction fees when you use your debit card internationally. Plus, opening a checking account also gives you access to a Cash Reserve account, which is essentially a high-yield savings account.


Fee-free checking accounts are becoming more and more common as companies realize that the ability to access checking services with few to no fees is one of the most important things that customers are looking for. However, different fee-free checking accounts offer different benefits. If you’re looking for the best free checking account for your needs, there are many opportunities out there. These are just four of the best options, making it easy for you to narrow down your choices to some of the best before you make your choice.