Best Free Checking Accounts in September 2026

The account charges no monthly fees and even waives fees for out-of-network ATM withdrawals. The 360 Checking Account provides US residents with a bank account with no monthly fees, no international transaction fees, and no opening or minimum deposit. Chime® is an excellent mobile finance app with no monthly fees¹! No monthly fees and no minimum balance to open mean it’s accessible to everyone, while unlimited transfers and withdrawals let you manage your savings your way. Barclays Tiered Savings pays a competitive rate with no minimum balance to earn it, and no monthly fees. Many top online banks, such as Capital One 360, and SoFi, explicitly offer a “no deposit bank account.” This means the required minimum opening deposit is exactly $0.

• The 360 Checking Account provides US residents with a bank account with no monthly fees, no international transaction fees, and no opening or minimum deposit.
• Plans range from $5.99/month for the core banking and budgeting features up to $19.98/month for the plan with investing tools and additional protections.
• American fintech apps are well known for requiring no minimum deposits and waiving monthly maintenance fees altogether.
• And, there are lots of interest-bearing account types to choose from, including certificate of deposit (CD) accounts, money market accounts, regular savings accounts and high-yield savings accounts.
• The lack of monthly fees and minimum initial deposit makes it accessible to most savers.
• The Chime Checking Account boasts no monthly fees, no overdraft fees, and no foreign transaction fees.

Check writing limits exist at some online banks. Inactive account fees kick in after 6-12 months of no activity. Chime and SoFi have no minimum opening deposits and simple online applications. Chase provides round-the-clock customer service, while many online banks offer extended hours and quick response times. Marcus by Goldman Sachs and other online banks often pay times more interest than big banks. Most traditional banks pay almost nothing on checking balances.
To ensure that they have enough cash in their possession to issue loans, traditional banks set limits on how much money you are allowed to take out of your account. American fintech apps are well known for requiring no minimum deposits and waiving monthly maintenance fees altogether. APYs are subject to change at any time without notice. To see how these five stack up against every account I track, compare the best high-yield savings accounts of 2026.

• SoFi’s ATM policies are subject to change at our discretion at any time.
• A bank may require a deposit later, close an inactive account, or limit certain features until money enters the account.
• Unlike traditional banks that treat checking as a non-earning transaction account, Axos ONE pays competitive rates on both your spending and saving money – all from one integrated platform.
• It’s a good fit for those who want to save at a competitive rate while avoiding withdrawal limits or minimum balance requirements.
• We’ve researched and rounded up several of the best no-minimum savings accounts without monthly fees, with our picks offering varied but competitive annual percentage yields (APYs), features, other fees, and more.
• Annual Percentage Yield (APY) is subject to change at any time without notice.
• Many online banks have partnerships that let you deposit cash at ATMs or retail stores nationwide.

These top stock-trading platforms don’t charge commission fees.

We’ve researched and rounded up several of the best no-minimum savings accounts without monthly fees, with our picks offering varied but competitive annual percentage yields (APYs), features, other fees, and more. The Ally Spending Account is an FDIC-insured checking account with no monthly fees or minimum balance requirements. To choose the best high-yield savings accounts with no minimum balance requirements, we analyzed dozens of accounts that offer competitive APYs without requiring a minimum opening deposit or ongoing balance. Many of the high-yield savings accounts with no monthly fees don’t require direct deposit to earn the best APY, though a few accounts do (but are still well worth it).
It pays its top rate as long as you add at least $250 to the account each month, which is easy to automate and forget. Plus, new customers earn a bonus of $50 or $400 with eligible direct deposit. The national average savings rate is just 0.38% annual percentage yield (APY), according to Motley Fool Money research. Accounts like the SoFi Checking & Savings Account, charge zero monthly maintenance fees. Consequently, if you set up direct deposit, you can comfortably receive your paycheck up to two days faster than traditional banks allow.

How to choose a high-yield savings account

Unlike traditional banks that may require direct deposit or debit card activity, Raisin’s offer is purely balance-based. The platform provides access to high-yield savings accounts, CDs, and money market products from over 75 banks and credit unions. We narrowed our selections to checking accounts with no monthly fee. To find the best checking accounts with no monthly maintenance fees, CNBC Select analyzed dozens of accounts offered by brick-and-mortar banks, credit unions and online institutions. In addition, most no-fee checking accounts are with online banks without physical branches. If you’re approved, you may be required to make a minimum opening deposit and create a PIN for your debit or ATM card.
She helps readers track down the best high-yield savings accounts, decide if they’re in between banks, and take their first steps into investing. Savings accounts without minimum balance requirements can help you save more and stress less, and they’re not hard to find anymore (plus, they’re some of the easiest bank accounts to open online). The best high-yield savings account rates vary from bank to bank and over time. These are a lot easier to find than crusado they used to be, especially with online banks, fintechs, and credit unions. To maximize your return on investment (ROI), choose a high-yield savings account with no minimum balance.
Check out online banks like Ally or SoFi for high-tech features and ATM fee reimbursements. Picking the right no-fee checking account isn’t just about avoiding monthly fees. They offer features traditional banks can’t match—like early direct deposit and automatic savings programs. Their 360 Checking account also has no monthly fees, no minimum balance, and reimburses ATM fees. Most digital banks offer checking accounts with zero monthly fees, period. Then close the old account in writing (not just by stopping use — a zero-balance fee account can still accrue monthly fees and overdraft charges).

Best Checking Accounts According To CompareAccounts™

You get up to $50 in overdraft coverage on debit purchases (with eligible direct deposit), plus access to 55,000+ fee-free ATMs nationwide. SoFi requires no minimum deposit to open your account and charges zero monthly maintenance fees, making it completely free to maintain. The account can be opened entirely online from either desktop or mobile app, making it a convenient and easy way to start banking at low cost. So, if you’re looking to make use of its premium features, it might be worth weighing other options. This is why online US banks allow you to open a bank account online with no money and charge no hidden fees, while many traditional banks require a minimum deposit.

Do I Need Money to Open a Bank Account?

After that, you can avoid the $10 monthly fee with a $500 minimum daily balance or $500 in qualifying direct deposits. Online banks are crushing traditional banks with their no-fee game. They can afford to waive charges that traditional banks love collecting.
While cash accounts aren’t quite the same as a high-yield savings account, they function similarly. It’s worth noting that UFB changes the names and details of its savings accounts more than other banks, but it always offers some version of a high-yield savings account that’s always competitive. But the reason we chose it for this list is that, in addition to regularly offering a good rate even when the market is in flux, this account is designed for quick, easy transfers to and from other accounts. Even though this account doesn’t have a minimum balance requirement to open and earn interest, it does require monthly deposits as one option to unlock the highest rate. SoFi Checking and Savings is a joint account that earns interest on your checking and savings balances, and it stood out in our research because you can earn interest on all your money. Unlike some of the other high-yield savings accounts we recommend, the Synchrony Bank High Yield Savings account doesn’t have any minimums to open or earn the highest interest rate.