Best Free Checking Accounts in 2025

Checking accounts haven’t looked the same for a while now, and we’re not just talking about your account balance. Did you know that experts predict the online banking industry will be worth $30.1 billion by 2026?

If you haven’t already opened an online checking account and want to, we can help. Our guide to the best free checking accounts includes a few online-only banks that offer several perks that national banks can’t. 

However, many people still prefer the traditional checking accounts of old. We’re talking about the ones that come with FDIC insurance and the comfort of knowing you can visit a local branch if you have any issues. 

Either way you slice it, you can still take advantage of the best free checking accounts, traditional or online-only. Not paying for your checking account can help you save more and achieve your financial goals. 

Just know that some of these checking accounts may require you to meet specific criteria to waive the monthly fees. Meet those requirements, and you’re in the clear. 

Are you ready to learn more about the best free checking accounts? Let’s get started!

Best Free Checking Accounts

The best free checking accounts come with several perks, several of which last the lifetime of your account.

Sometimes the best bank account bonuses are available to you daily rather than as a welcome bonus. 

Best Overall: SoFi Checking and Savings

When it comes to checking accounts and savings accounts, banking in one place can help you keep your funds straight. That’s one of the many reasons SoFi Checking and Savings made our list of the best free checking accounts. 

Another reason is that this account comes with competitive rates for both checking and savings accounts. However, you must set up a direct deposit to obtain these high APYs. 

SoFi doesn’t require a minimum deposit or a monthly fee. In addition, it offers access to one of the largest ATM networks in the nation and offers several SoFi promotions to claim.

Your new SoFi free checking and savings accounts come with the chance to get paid up to two days early. You qualify for overdraft protection if you have $1,000 in direct deposits each month. 

Best APY: Quontic Bank High-Interest Checking Account 

You must deposit at least $100 into your new Quontic Bank High-Interest Checking Account. This online-only bank lets you earn 1.10% cash back on qualifying debit card purchases. 

Deposits under $150,000 earn an above-average APY. You must also make at least 10 qualifying transactions of $10 or more each month to earn this superior APY. 

In addition to these perks, Quontic offers bill pay, mobile check deposits, and peer-to-peer transfers. You can access your funds via 90,000+ ATMs nationwide. 

Best for No Fees: Current 

Many wonder, “Is online banking safe?” Current is here to answer that question with a free checking account that makes online banking safe and convenient. 

This free Current checking account is FDIC insured up to $250,000. It also allows you to get paid up to two days early. 

Current checking account owners can access their funds via 40,000 Allpoint ATMs. However, you must visit a third-party retailer to deposit cash into your account. 

Each time you deposit cash, you’ll have to spend $3.50. With that said, you can earn points for the purchases you make at select retailers. 

To take advantage of this offer, you’ll need to visit the Current app before you make a purchase. Activate the offer within the app, make your purchase with your Current debit card, and you’ll rack up points. 

You can redeem these points for cash or various products. Current also offers budgeting tools and educational resources you can use to improve your finances. 

Note that Current checking accounts don’t accrue interest. This online-only bank doesn’t offer a welcome bonus either.

Best for Students: Chase College Checking^SM

Chase offers several checking accounts and Chase Bank promotions tailored to various customers. The Chase College Checking^SM account is specifically designed for college students. 

You can avoid monthly fees on this account if you are a student aged 17 to 24 that can show proof of your student status. If you are over 24, Chase allows you to waive the $6 monthly fee if you have at least one direct deposit or maintain an average daily balance of $5,000 or more. 

On most of its checking accounts, Chase offers several new account holder bonuses yearly. When you open a Chase College Checking^SM account, you can add a Chase Savings^SM account without incurring any additional monthly fees.

However, this Chase checking account doesn’t earn interest. Chase doesn’t reimburse non-network ATM fees either. 

Chase operates over 4,700 branches and 15,000 ATMs nationwide. Eligible Chase checking accounts come with Overdraft Assist^SM. This overdraft protection allows you to overdraw your account by $50 or less without incurring an overdraft fee. 

You can bank online and through your smartphone with Chase. The Chase mobile app features mobile check deposits and money transfers through Zelle.

Best Rewards: Axos Bank® Rewards Checking

Axos Bank® Rewards Checking has been ranked as one of the best rewards checking accounts, as the account is free and doesn’t require any initial deposit amount. You can also earn an impressive 3.30% APY on balances below $50,000. 

To earn this high-interest rate, you must meet specific monthly requirements. These include: 

• Direct deposit balance amounts
• Average daily balances
• On-time loan payments
• A set number of debit transactions 
• Signing up for a Personal Finance Manager

Axos Bank compounds interest daily and pay out monthly. Unfortunately, Axos Bank doesn’t pay any interest on checking account balances over $50,000.

However, you can link your savings or money market account to your Rewards Checking account to avoid non-sufficient funds fees. If you don’t link a savings or money market account, Axos will use an overdraft line of credit to cover your overdrafts. 

This bank also reimburses you for non-network ATM fees with no monthly caps and has several Axos Bank promotions to consider.

Best Online-Only Bank: Albert

Albert has been ranked as one of the best digital banks, offering ample ATM access and perks for an online-only bank. It also provides a free checking account that you can use to get paid up to two days early.

If you want to get more out of your account, you can opt for a $14.99 monthly fee to sign up (you can also try it for 30-days free) for the Genius plan. This plan includes: 

• 24/7 access to financial experts
• Up to 20% cash back on select purchases
• 55,000+ free ATMs
• Guided investing starting at $1
• Get up to $250 in overdraft coverage

You can stick to the free checking account, which has no monthly fees, minimum deposits, or minimum daily balance requirements. Albert is known for superior customer service and helpful saving and budgeting features. 

Best for Business: Novo Business Checking 

Finding a free business checking account can feel like winning the lottery. Novo offers a free business checking account that doesn’t require a minimum opening deposit.

However, a $50 deposit can help you take advantage of Novo Boost, one of the bank’s most popular business checking account promotions. With Novo Boost, you get paid up to two days early when you connect your Stripe account. 

Speaking of connections, Novo integrates with several other business apps, including Slack, Xero, QuickBooks, and Shopify. You can easily apply for a Novo Business Checking account online in just a few minutes.  

This business checking account comes with no deposit limits, monthly fees, and no fees for debit cards, paper statements, or ACH transfers. You also won’t pay for stop and bill payments, wire transfers, or physical checks. 

Advantages and Disadvantages of Free Checking Accounts

They say you get what you pay for. Could a free checking account be that bad? 

Pros:

• Some free checking accounts pay interest on your balance
• You can link your savings or money market account to cover overdrafts and avoid fees
• ATM fee reimbursements
• Get paid up to two days early
• No or low minimum balance requirements 
• Free personal and business banking accounts for all your needs
• Cost-effective 

Cons:

• Limited features
• Additional services may require a different account 
• Some accounts come with a high minimum balance or opening deposit requirements 
• Customer service can be lacking for unpaid customers 
• Fewer sign-up bonuses and welcome offers 

Best Free Checking Account FAQs

Free-Falling Into the Best Free Checking Accounts

In this guide, we covered quite a few free checking accounts you can open with $100 or less. These accounts are some of the best checking accounts nationwide, from online-only and traditional banks. 

We hope this list helps you find a free checking account to manage your money without the penalty of a monthly fee. The more you can save on your checking account, the more you can put into a savings account for a rainy day. 

Speaking of savings, many banks offering free checking accounts also let you open a savings account. Linking these two can help you create better money management habits that will benefit you in the future. 

These free checking accounts also come with additional perks, such as no minimum deposit or minimum balance requirements. Check with each bank to confirm any welcome bonuses or other perks you receive as an account holder. 

Which of the best free checking accounts will you open?