The best no-fee checking accounts of June 2021

Checking account	APY	Next steps
Capital One 360	0.10% APY	Capital One Capital One 360 Checking®
Discover Bank	None	Discover Discover Cashback Debit Account
Charles Schwab	0.03% APY	Charles Schwab Bank Schwab Bank High Yield Investor Checking® Account
Radius Bank Rewards Checking	0.10% – 0.15% APY	Radius Bank Radius Rewards Checking Account
Axos Bank	Up to 1.25% APY	Axos Axos Bank Rewards Checking
Chime	None	Chime Chime Spending Account
Alliant Credit Union	0.25% APY	Alliant Credit Union Alliant High-Interest Checking Account
Wealthfront	0.35% APY	Wealthfront Wealthfront Cash Account

*Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.

These days, most (if not all) banks offer conditional no-fee checking accounts. That is to say, your monthly service fee can be waived if you meet minimum balance or recurring deposit requirements.

In this list, we want to highlight the checking accounts that charge zero monthly maintenance fees, no matter where your balance lies. You might notice this list is similar to our list of best checking accounts – that's because we value no-fee products and have mentioned many of the best already.

Below you'll find our picks for the best no-fee checking accounts available right now. Each of these accounts comes with a debit card, FDIC insurance, and mobile app access.

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Our expert panel for this guide

We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best checking accounts for your needs. You can read their insights at the bottom of this post.

PFI Banking Expert Panel (updated 2021) — Insider

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.

Other no-fee checking accounts we considered and why they didn't make the cut

Ally Interest Checking Account (Member FDIC): This is a solid online checking account that pays interest on your balance, but its features aren't as unique as what you'll find with some of our top picks. Read Insider's full review of Ally here.
HMBradley Account (Member FDIC): This is a good option if you want a hybrid checking/savings account that pays up to 3% APY, but you must meet certain qualifications to earn the highest interest rate. Read Insider's full review of HMBradley here.
CIT Bank eChecking (Member FDIC): The minimum opening deposit for this account is $100 and it only offers up to $15 of fee-free ATM visits a month, otherwise it's a fine account earning 0.10% APY on balances below $25,000. Read Insider's full review of CIT Bank here.
Betterment Checking (Member FDIC): This online checking account reimburses ATM and foreign transaction fees, and there are no monthly service charges or overdraft penalties. However, Betterment is still in the process of developing features like physical checkbooks and joint accounts. Read Insider's full review of Betterment here.
Axos Essential Checking (Member FDIC): A solid online-only checking account with unlimited ATM fee reimbursement, but nothing extra special. Read Insider's full review of Axos here.
Axos Cash Back Checking (Member FDIC): This account offers up to 1% cash back on purchases (up to $2,000 per month), but doesn't count transactions from grocery stores and requires an average daily balance of $1,500 to earn the cash back. If your balance falls below that limit, you get 0.50% cash back. Read Insider's full review of Axos here.
TIAA Yield Pledge Checking (Member FDIC): No monthly service fees and all balances earn a competitive APY for the first year; after that, the rate drops. To enjoy unlimited ATM reimbursement you need to keep an average daily balance of at least $5,000. You also need at least $100 to open the account. Read Insider's full review of TIAA here.
SoFi Money (Member FDIC): This hybrid checking account/savings account pays interest and lets you earn cash-back rewards, but you must deposit $500 per month to qualify for either. Read Insider's full review of SoFi Money here.
USAA Classic Checking (Member FDIC): USAA is specifically for military members and family, and new recruits get paid a day early with a checking account.
Aspiration Account (Member FDIC): You have the option to plant a tree every time you swipe your debit card, and you can earn 3% to 5% cash back when you shop at companies like TOMS and Blue Apron.

Which banks are the most trustworthy?

The Better Business Bureau assigns companies trustworthiness 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:

Institution	BBB
Capital One 360	A
Discover	A+
Charles Schwab	A+
Radius Bank	A
Axos Bank	A+
Chime	B
Alliant Credit Union	A+
Wealthfront	F

Wealthfront is the only company from our list with a poor BBB grade. The BBB cites the fact that Wealthfront hasn't responded to a large percentage of complaints on the BBB website as one reason for its bad grade – but it hasn't responded to three of five total complaints. Because the number is low overall, we've still included Wealthfront on the list of our favorite checking accounts.

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. If any of these scandals worry you, you may decide to open a checking account at a different bank.

Frequently asked questions

Why trust our recommendations?

At Personal Finance 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 nearly three dozen checking accounts available at over 20 national and online-only banks 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.

How did we choose the best no-fee checking accounts?

To find the best no-fee checking accounts, we consulted our list of the best checking accounts, many of which are completely free for all account holders, regardless of their balance. To compile that list, we considered offerings at over 20 financial institutions, as well as reviews at popular comparison sites like Bankrate and Nerdwallet, to determine the strongest options.

We also polled Insider employees for their favorite picks and considered J.D. Power's US National Banking Satisfaction Study for 2020, which measures customer satisfaction at America's largest retail banks.

While big retail banks in the US have the most widespread ATM and branch location access, they typically do not offer completely free checking accounts, so we didn't name a winner for ATM and branch access.

Unlike a savings account, a checking account doesn't need to have a high interest rate to be good. In fact, the annual percentage yield (APY) shouldn't matter much if you're using your checking account to pay your monthly bills and cover expenses in short order. If your money is constantly flowing in and out of your checking account, it won't get a chance to earn much interest anyway.

What banks offer free checking accounts?

You can find completely free checking accounts at Ally, Betterment, CIT Bank, US Bank, TD Bank, Capital One, Charles Schwab, Discover, Axos, and SoFi Money, to name a few.

Which banks have the best checking accounts?

Through our extensive research, we've concluded that the best checking accounts available right now are at Capital One, Discover, Simple, and SoFi Money. Some of these may offer to waive service fees if certain requirements are met, but most charge none at all.

Which banks have free checking with no minimum balance?

Several banks offer free checking accounts with no minimum balance or opening deposit requirement, including Ally, Charles Schwab, Betterment, and Capital One.

The experts' advice on choosing the best checking account for you

To learn more about what makes a good checking account and how to choose the best fit, four experts weighed in:

Tania Brown, certified financial planner at SaverLife
Roger Ma, certified financial planner with lifelaidout® and author of "Work Your Money, Not Your Life"
Mykail James, MBA, certified financial education instructor, BoujieBudgets.com
Laura Grace Tarpley, editor of banking, Personal Finance Insider

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:

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

Laura Grace Tarpley, Personal Finance Insider:

"I would make a list of the top three to five things you want out of a checking account. Is it a great mobile app, 24/7 customer support, no ATM fees? Then research the best banks for those features."

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

Tania Brown, CFP:

"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, CFEI:

"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."

Laura Grace Tarpley is an editor at Personal Finance Insider, covering mortgages, refinancing, bank accounts, and bank reviews. She is also a Certified Educator in Personal Finance (CEPF). Over her four years of covering personal finance, she has written extensively about ways to save, invest, and navigate loans.

Related Content Module: More Savings Coverage

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The best no-fee checking accounts of June 2021