Some Of The Best Banks For Checking Accounts In 2022

June 01, 2022

Having cash on hand is always a good idea, and a checking account is the best place to keep it for bills and day-to-day expenses. However, some checking accounts have minimum balance requirements that tie up your cash, and you may also be charged monthly fees that make those minimums even more difficult to meet. In this blog, we have curated a list of checking accounts that do not require a minimum balance or charge monthly fees. Not only do the accounts allow you to bank the way you want, but they also allow you to keep more of your money. Below is a list of some of the best banks for checking accounts.

Best Banks For Checking Accounts

Best Banks For Checking Accounts

Here are the top 9 free checking account banks with no minimum balance criteria. As an added bonus, you can open these accounts with no money down.

1. Ally Bank

The Ally Bank interest-bearing checking account comes with a slew of benefits to help you manage your money. Checks can be deposited using your smartphone, or money can be transferred using Zelle or the Ally Skill for Amazon Alexa. When you open an online savings account, Ally Rounds Ups will round up your checking transactions and deposit the difference into your savings account.

ATM Accessibility:

  • There is no fee at any of the 43,000 or so Ally ATMs in the United States.
  • Other domestic ATM fees up to $10 are automatically reimbursed.

Interest:

  • For accounts with a daily balance of less than $15,000, the annual percentage yield is 0.10%.
  • 0.25% APY for accounts with a minimum daily balance of $15,000

Fees:

  • Incoming wire transfers are free and outgoing wire transfers cost $20.
  • $7.50 refunded deposit item

2. Axos Bank 

Axos Bank is one of the best banks for checking accounts. ‘Essential Checking’ is Axos Bank’s no-fee, no-minimum checking account with the features you need.

ATM Accessibility:

  • Withdrawals are free at approximately 91,000 locations.
  • Reimbursement of ATM fees is unlimited.

Interest:

  • Non-interest-bearing account

Fees:

  • $5 for paper statements
  • Transfers by wire: Incoming is free, outgoing domestic is $35 and international is $45

3. Capital One

Capital One provides a free 360 checking account that includes Zelle integration for easy peer-to-peer payments, as well as additional banking features.

ATM Accessibility:

  • ATM access to over 70,000 fee-free ATMs
  • There is no fee for using an ATM that is not in your network.

Interest:

  • 0.10% annual percentage yield on all balances

Fees:

  • Overdraft fees: $35 after the next-day grace period Paper statement: $5
  • Checks are $7 for 50 and $11 for 100.
  • Incoming wire transfers are free and outgoing domestic transfers are $30.

4. Chimes

Chimes is among some of the best banks for checking accounts. Here’s what you can expect when you open a Chime free online checking account.

ATM Accessibility:

  • ATM access to over 60,000 free in-network ATMs

Interest: 

  • An account with no interest

Fees:

  • ATM and over-the-counter withdrawal fees: $2.50 at non-network ATMs

5. Discover

The Discover Cashback Debit account is a solid option for fee-averse customers. In fact, this account rewards you with cashback. Here’s what else you’ll get:

ATM Accessibility:

  • Over 60,000 domestic ATMs
  • Free withdrawals

Interest:

  • Non-interest-bearing account fees

Fees:

  • Outbound wire transfer: $30

6. E-Trade

The E-Trade Bank has one of the best banks for checking accounts. The E-Trade Checking account is a non-interest bearing account that includes the following features:

ATM Accessibility:

  • Use any ATM.

Interest:

  • E-Trade Interest charges no fees: Non-interest bearing account

Fees:

  • Wire transfers are $25 per outgoing phone call.

7. FNBO Direct 

The FNBO Direct Online Checking account includes standard online and mobile checking services, as well as the following benefits:

ATM accessibility:

  • There is no fee at any Allpoint ATM.
  • $1,000 per 24-hour period

Interest:

  • 0.15% APY Interest

Fees:

  • Overdrafts: $33, with a daily limit of four.
  • Wire transfers are free incoming and $15 outgoing domestically.
  • Popmoney service fees are $10 the next day and $5 for check issuance.

8. One 

One provides envelope budgeters with an easy way to organise their expenses into Pockets. It is one of the best banks for checking accounts.

ATM accessibility:

  • Access to 55,000 ATMs in the Allpoint network
  • Free admission

Interest:

  • Save Pocket offers a 1.00% APY on balances up to $5,000 without a qualifying direct payment or up to $25,000 with a qualifying direct deposit.
  • 3.00% APY on Auto-Save Pocket balances up to $1,000 per month

Fees:

  • There are no fees.

9. Varo 

Varo is a full-service online bank geared specifically toward those who deposit cash infrequently. There are no account fees, and you can apply online or through the app in just a few minutes.

ATM accessibility:

  • Access to over 55,000 fee-free Allpoint ATMs
  • No foreign transaction fees

Interest: 

  • Non-interest bearing account

Fees:

  • $2.50 per out-of-network ATM transaction
  • Cash deposits are subject to a retail service fee of up to $5.95.

PS: If there’s anything more you’d like us to know about. Add it to the comments section!

Thank you for reading this blog on ‘Best Banks For Checking Accounts In 2022’. If you’d like to read more, here are some blogs that might be of interest to you:

  1. Ideas For A New Business To Earn Money
  2. 8 Ways To Increase Your Pocket-Money Earnings
  3. Best International Money Transfer Services For Anyone & Everyone! 


AaliyaWitten by Aaliya A piquant and humorous writer with the love to scrawl and create. For me writing is supreme. To believe that I can give words to my thoughts and connect to people through it is extraordinary.
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