Free checking account was the norm. However, with more sophisticated banking, it has got more expensive. Nonetheless, the internet has made it quite simple for banks to offer free checking accounts to all the eligible people. Albeit, the government says that it is mandatory that a checking account should not be termed ‘free,’ if the user can probably be charged with an activity or maintenance fee.
The question here is that what are free checking accounts? The word ‘free’ is often debatable as most of the checking accounts charge a fee for certain activities, such as account overdraw, etc. However, the main thing here to know for the consumers is that a free checking account is greatly valuable for you, if you know how you can avoid these fees.
There are many free checking accounts. However, the best among them offer free cash for opening a new checking account, do not charge extra fees for anything, and unlimited access to no-fee ATMs.
Let us have a look at the 4 best free checking accounts.
Capital One 360
This is one of the best checking accounts, if you do not want to pay anything. This is a great option for people who want the feel of a ‘big bank’ for their online bank account. One of the most trusted financial brands, Capital One has a big network of ATMs all over the nation. Some of the advantages or benefits of this account are:
- Mobile application
- Only fee that you have to pay is $25 through check as stop payment
- More than 38,000 free Allpoint ATMs and 2,000 ATMs of Capital One
- No foreign transaction fee
- No hidden minimums or fees
- Free MasterCard Debit Card
Chase Total Checking
This free checking account offers cash reward on sign up. You can get a bonus of $150, when you sign up for a new account of Chase Total Checking and set your first direct deposit. It offers many perks to consumers, which helps in easily managing your money. Some of the highlights of Chase Total Checking account are:
- $150 bonus on signup and direct deposit
- Chase QuickDeposit for depositing checks by just taking a picture of the check anywhere, anytime
- Access to more than 5,300 Chase branches and 15,500 ATMs
This account offers benefits according to the various needs of customers, as they can easily and conveniently make their deposits. Plus, the USAA offers many free tools through which you can monitor and budget your spending. USAA also offers the facility of Web BillPay for your convenience, which is an online bill payment feature that allows you to easily manage all your household bills online. Some of the perks of opening a USAA free checking account are:
- No fees for monthly service
- Free ATMs across the nation
- Free bill payments and transfers
- Free direct deposits
- No requirement of minimum balance
Ally Interest Checking
The Ally Interest Checking account offers various perks, especially when it is connected to the savings account of Ally, which is one of the best savings accounts. Popmoney is one of the best features of this free checking account, through which you can move your money between different Ally accounts as well as transfer your money to non-Ally accounts. Some of the advantages of opening an Ally Interest Checking account are:
- No fees for monthly maintenance
- No requirement of minimum balance to open an account
- Send money through Popmoney
- Ally eCheck Deposit for depositing checks remotely
- Fee-free ATMs across the nation
- 24/7 live customer care
These are the best free checking account. All of these accounts can be opened online. You can choose any of these free checking accounts without paying anything.