Checking accounts are optimal tools for day-to-day expenses, but the monthly fee on their withdrawal can add up to significant expenses. Most banks promise fee-free checking accounts. But how genuinely fee-free they really are?
ATM fees are rising, which is making it difficult for consumers to avoid them and find fee-free checking accounts. But, there are few banks with the best checking accounts that charge no ATM fees. The best checking accounts are those that have minimal fees, are easy to cash, and have unique features.
To help you avoid the unnecessary fee, we have compiled a list of banks with the best checking accounts that offer no-fee ATM transactions. These banks will let you hold on to more of your money. Check out our list of the banks that reimburse ATM fees.
The Best No-Fee Checking Accounts
- Axos Bank
- Alliant Credit Union
- Discover Bank
- LendingClub
- Ally Bank
Axos Bank
Axos bank is the best overall bank which receives high marks for its vast lineup of checking accounts. It is a digital bank founded in 2000. With Axos Bank's checking accounts, you can make a free ATM withdrawal anywhere in the US, with unlimited ATM fee reimbursements and a no-minimum checking account. Axo Rewards checking account is a great free checking account with high APY.
Moreover, the bank charges no overdraft fee and gives the user options to earn 1.25% APY on their balance. They just charge a $50 initial deposit to open an account. Aside from it, there is no fee and minimum balance requirement. In addition, it also offers high yield and free savings accounts.
Axo Rewards checking account is the biggest standout because it gives an attractive interest rate on your balance.
Alliant Credit Union
Chicago-based Alliant Credit union is the easiest to join and best for those who want an institution where customers are members. It is not a bank, but its High-rate checking account is a top contender that provides you up to $20 ATM fee reimbursements per month.
With their checking account, you can save up to $240 annually from ATM fees. Other perks of its high-rate checking account are no maintenance fee and minimum balance requirement; however, there is an overdraft fee.
Alliant's checking account is the best choice for the people whose balance often waivers as the account offers 0.25% APY. Moreover, the interest rates apply to all balances. The earnings from the checking account vary regularly, but Alliant's lower rates are eight times higher than average checking accounts nationwide. Beyond these features, the credit union offers an industry-leading cash back credit card which gives 2.5% cash back on all purchases.
These amazing features make Alliant the best checking account with no ATM fees.
Discover Bank
Discover Bank's free checking account provides customers with cash back rewards. Discover Cashback Debit Account act similar to a credit card which is an attractive checking option. Its cashback debit account charges no fee at all and access to more than 60,000 no-fee ATMs in the US.
The checking account gives 1% cash back rewards on monthly debit card purchases. Moreover, there is no NSF fee which makes it best for overdrafts. Paper check supplies are also free, and it gives the ability to use Zelle for quick person-to-person payments.
LendingClub
LendingClub is our top pick bank for free domestic ATM access. Beyond no ATM fee, the feature that stands out from the crowd is cashback payment on debit card purchases. There is no monthly maintenance fee and minimum balance requirement, which can save you money.
Furthermore, its checking account offers unlimited ATM fee reimbursements and gives the first set of checks free of cost. Its unlimited ATM refunds apply internationally too.
It compounds interest per month rather than day-to-day, which will leave an impact on your earnings in the long run.
Ally Bank
Ally Bank's free interest checking account is overall best; that requires no maintenance fee, no minimum balance requirement, ATM fee refunds, checking account fees, and a free check supply. It is one of the largest banks with low fees and offers a quality customer experience.
It allows the customers to use Zelle for fast payment to other people for free. The interest checking account pays 0.1 percent APY on balances up to $15,000 and 0.25 % APY beyond $15,000. Ally network covers more than 43,000 ATMs nationwide and offers free transactions.
Besides, Ally bank offers a high-yield savings account, no initial deposit, great banking products, and a mobile app for mobile check deposits.
Bottom line
There you have it- our top picks checking accounts with no ATM fees. If you frequently use an ATM, consider switching to one of these banks that helps you avoid ATM fees. You can open an account online in any of these banks by providing some information. To find the right checking account for you, evaluate each bank and review their ATM withdrawal costs, overdrafts, monthly fees, and more by reading the bank statement. Also, check the customer's reviews; it will help you understand the customer's experience with that bank.
