The best checking accounts offer a safe place to store your cash without worrying about monthly maintenance or overdraft fees. Here are our top picks.
Annual Percentage Yield (APY) rates and other account details in this blog are for informational purposes only and are accurate as of March 5, 2025. Check the latest account details and agreements before signing up for any financial product. The use of any third-party trademarks is for informational purposes only. Chime has no sponsorship, endorsement, or affiliation with any of the financial institutions referenced herein.
A checking account offers a convenient place to store and access cash for everyday expenses. However, some checking accounts come with maintenance fees that can chip away at your hard-earned balance.
Fortunately, there are options for checking accounts that don’t come with monthly fees, don’t require a minimum balance, and don’t charge an opening fee. We’ve gathered the most important information on some of the best nationally available, FDIC-insured¹ online checking accounts with no monthly fees.
Read on for all the details, including pros and cons, so you can determine which checking account may be best for you.
Chime® Checking Account
Chime’s online checking account includes no monthly service fees and doesn’t require a minimum deposit to open. You can manage your money with 24/7 mobile banking and take out cash at more than 50,000 fee-free ATMs.²
You can also withdraw cash at several retailer locations, including Walgreens®, CVS®, and 7-Eleven®. Plus, you can deposit cash at any Walgreens location.³
Chime doesn’t charge overdraft fees and will allow you to overdraft up to $200⁴ without fees if you qualify for the SpotMe® feature. Our checking account comes with a Chime Visa® Debit Card.
You can set up daily updates to track your balance and easily block transactions if you lose your debit card.
With a Chime Checking Account, you can also get paid up to two days early with direct deposit⁵ and earn up to $0.22 off per gallon on gas, 11% cash back on groceries, and 24% on restaurant purchases.^
| Pros | Cons |
|---|---|
| No monthly fees or minimum deposits | Checking account doesn’t earn interest |
| Can take out and deposit cash³ at Walgreens and other stores | No brick-and-mortar locations |
| No overdraft fees | |
| Get paid up to two days early⁵ | |
| Simple and easy mobile banking | |
| Earn cashback with Chime Deals* |
Who should consider this account
Chime’s checking account could be the right choice if you’re looking to easily withdraw and deposit cash, not worry about overdraft fees, and receive your paycheck up to two days early. Additionally, if you want a simple and easy-to-use app to do your banking, Chime is the right choice for you.
Ally® Spending Account⁶
Ally offers an online checking account with no monthly maintenance fees or minimum deposit requirements. There are also no minimum balance requirements, and Ally Bank doesn’t charge overdraft fees.
An Ally checking account’s annual percentage yield (APY) begins at 0.1% and increases to 0.25% if you have a balance of $15,000 or more. Ally is an online bank and offers mobile check deposits, but you can’t make direct cash deposits. Instead, you’d have to deposit cash through the Allpoint ATM network.
For withdrawals, you’ll have access to more than 75,000 Allpoint ATMs. If you withdraw from an out-of-network ATM, Ally Bank will reimburse you up to $10 in ATM fees each statement cycle.
| Pros | Cons |
|---|---|
| No monthly fee, minimum deposit, or minimum balance | No brick-and-mortar locations |
| No overdraft fees | Can’t make cash deposits⁷ |
| ATM reimbursement up to $10 per statement cycle | APY is lower on balances below $15,000 |
Who should consider this account
an Ally checking account may be a smart option if you’re comfortable doing your banking online or through a mobile app and don’t need the option of in-person banking.
Capital One 360 Checking® Account⁸
Capital One’s 360 Checking Account has no monthly maintenance fees, minimum deposit to open, or minimum balance requirements. It earns 0.10% APY across all balances and doesn’t charge overdraft fees.
Along with mobile check deposit and online banking, Capital One also has physical branches, along with Capital One Cafes, that you can visit for coffee and financial advice. You can withdraw your money fee-free at more than 70,000 Capital One, MoneyPass, and Allpoint ATMs.
| Pros | Cons |
|---|---|
| No monthly fees, minimum deposit, or minimum balance | No ATM fee reimbursement |
| Option to bank in person at physical branches | Some other banks offer a higher APY on checking accounts |
| Access to more than 70,000 fee-free ATMs |
Who should consider this account
Capital One is an all-around solid choice for anyone looking for a bank account without minimum deposit or balance requirements. With a Capital One checking account, you have the option of online, mobile, and in-person banking.
Discover® Cashback Debit Account⁹
Discover is another option for an online checking account with no monthly maintenance fees or a minimum deposit to open. There are also no minimum balance requirements or overdraft fees. You’ll have access to over 50,000 Allpoint and MoneyPass ATMs but won’t receive reimbursement for out-of-network ATM fees.
A unique feature of Discover’s checking account is the cash back you can earn on debit card purchases. Discover offers 1% cash back on up to $3,000 in debit card purchases each month.
| Pros | Cons |
|---|---|
| No monthly fees, minimum deposits, or minimum balance requirements | No physical branches for in-person banking |
| 1% cash back on debit card purchases (up to $30 each month) | No ATM fee reimbursement |
| No overdraft fees | Doesn’t have many options for cash deposits |
Who should consider this account
This account could be a good fit if you’re comfortable with online banking and want to earn cash back on your debit card purchases.
SoFi® Checking¹⁰
SoFi offers an APY of 0.50% on its checking account with no monthly fees, minimum deposits, or minimum balance requirements. If you open a checking account with SoFi, you’ll have access to more than 55,000 no-fee ATMs and could receive your paycheck up to two days early.
Setting up direct deposits of $1,000 or more into your SoFi checking account could also earn you a welcome bonus of up to $250. That will also qualify you for SoFi’s overdraft coverage and protection.
Limited customer support channels
APY of 0.5% across all balancesNo overdraft protection
| Pros | Cons |
|---|---|
| No monthly fees, minimum deposit, or minimum balance | No physical branches for in-person banking |
| Welcome bonus of up to $250 for qualifying direct deposit | Must set up direct deposits of at least $1,000 per month to qualify for the welcome bonus and overdraft coverage and protection |
| APY of 0.5% across all balances | No overdraft protection |
| Limited customer support channels |
Who should consider this account
A SoFi checking account could work for you if you’re looking for an online bank account that offers APY earnings and a welcome bonus incentive.
nbkc® Everything Account¹²
The nbkc Everything Account is a checking account with no monthly fees that earns 1.75% APY. It doesn’t have a minimum opening deposit and gives you access to more than 37,000 MoneyPass ATMs.
If you opt for an out-of-network ATM, nbkc will reimburse you for up to $12 per month in ATM fees.¹¹ This Kansas City-based bank operates four branches in Kansas and Missouri, but its checking account is available nationwide and comes with online and mobile banking.
| Pros | Cons |
|---|---|
| High-yield checking account with 1.75% APY | Only four branches, which are located in Kansas and Missouri |
| ATM fee reimbursement | Smaller ATM network than some other banks and no cash deposits are accepted |
| No overdraft protection |
Who should consider this account
nbkc is a viable option if you’re looking for a high-yield checking account with no monthly fees. Kansas and Missouri residents who live near an nbkc branch may also appreciate the option of in-person banking.
FNBO® Direct Online Checking Account¹³
FNBO offers an online checking account that offers an APY of 0.15%. It requires a minimum opening deposit of just $1. This account comes with a FNBO Direct Visa® Debit Card.
This checking account is available nationwide, but FNBO only has branches in eight states: Colorado, Illinois, Iowa, Kansas, Nebraska, South Dakota, Texas, and Wyoming.¹⁴
| Pros | Cons |
|---|---|
| No monthly fees or minimum balance | No ATM fee reimbursement |
| Earns 0.15% APY | Branch locations in only eight states |
| Access to over two million ATMs | No cash deposit options |
| Doesn’t accrue rewards |
Who this account is best for
Check out this account if you want access to more than 55,000 ATMs or live close to an FNBO branch and want the option of in-person banking.
Online checking accounts – final comparison
| Account Name | Institution Type | Monthly Fees | ATM Network | APY | Minimum Balance Requirement |
|---|---|---|---|---|---|
| Chime® Checking Account | Financial Technology Company | No | 50,000 fee-free ATMs | 2.00% | None |
| Ally® Spending Account | Online Bank | No | 43,000 Allpoint ATMs | Begins at 0.1% and increases to 0.25% on balances of $15,000+ | None |
| Capital One 360 Checking® Account | Traditional Bank (with online services) | No | Access to 70,000 ATMs | 0.10% | None |
| Discover® Cashback Debit Account | Traditional Bank (with online services) | No | Access to 50,000 ATMs | None | None |
| SoFi® Checking | Financial Technology Company | No | 55,000 no-fee ATMs | 0.50% | None |
| nbkc® Everything Account | Online Bank (With a few branches in KS & MO) | No | Access to 37,000 ATMs | 1.75% | None |
| FNBO® Direct Online Checking Account | Online Bank (but is a division of First National Bank of Omaha) | No | Access to over 55,000 ATMs | 0.15% | $1 |
Avoid monthly fees with online checking accounts
If you’re wary of monthly bank account fees, don’t let that stand in your way of opening a checking account. Many user-friendly options for bank accounts don’t charge monthly maintenance or service fees, regardless of your account balance.
Plus, many of these accounts make it easy to access your cash from fee-free ATMs and don’t charge overdraft fees if your balance dips below $0.
For an online checking account with no monthly service fees or minimum balance requirements, sign up for a Chime Checking Account.
Frequently Asked Questions
Are there any bank accounts with no monthly fees?
There are a variety of bank accounts that don’t charge monthly service fees. Many of these bank accounts also don’t require a minimum opening deposit or balance.
Can I open a bank account with zero money?
Yes, some banks allow you to open a bank account with no minimum deposit. Some other banks only require a nominal opening deposit, such as $1 or $5.
What checking account can I open without a deposit?
Some checking accounts you can open without a deposit include Chime, Ally Bank, Capital One, Discover, and SoFi.
What are the benefits of online checking accounts?
Online checking accounts generally offer benefits such as no monthly fees, higher interest rates, convenient access to your funds via mobile and online banking, and a large network of ATMs.
Are my funds safe in an online checking account?
Yes, as long as the online bank is FDIC-insured, your funds are protected up to $250,000 per depositor, per insured bank, in the event of bank failure.
Are there limits on transactions or withdrawals with online checking accounts?
Many online checking accounts allow unlimited transactions, but some may impose limits on certain transfers or withdrawals. It’s best to review the bank’s policies to understand any restrictions.
What happens if I overdraw my online checking account?
Policies vary by bank. Some online banking options, like Chime, offer no overdraft fees and allow for automatic transfers from linked savings accounts, while others may charge a fee for overdrafts.