9 Excellent
APY | Up to 3.80% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
APY | Up to 3.80% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
Overdraft fees are charged when you spend more than what’s in your account balance — talk about getting kicked when you’re down. The good news is that more banks are ditching overdraft fees or offering some sort of overdraft protection. Compare top bank accounts without overdraft fees and accounts that offer overdraft protection programs.
Plenty of accounts give you multiple overdraft options, including Capital One, Chime, Discover and SoFi.
9 Excellent
APY | Up to 3.80% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
APY | Up to 3.80% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
9.6 Excellent
Fee | $0 per month |
---|---|
Minimum deposit to open | $0 |
Fee | $0 per month |
---|---|
Minimum deposit to open | $0 |
9.6 Excellent
Fee | $0 per month |
---|---|
Minimum deposit to open | $0 |
Fee | $0 per month |
---|---|
Minimum deposit to open | $0 |
9.6 Excellent
Fee | $0 per month |
---|---|
Minimum deposit to open | $0 |
Fee | $0 per month |
---|---|
Minimum deposit to open | $0 |
9.2 Excellent
APY | 0.10% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
APY | 0.10% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
8.6 Great
APY | Up to 0.25% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
APY | Up to 0.25% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
If you were to perform a transaction that would create a negative balance on your checking account, and the bank allows that transaction to go through, they’re essentially helping you pay for that transaction. And for this “service,” they charge you a fee, typically around $30 to $35 per transaction.
Having a bank account without overdraft fees typically means you’re not allowed to overdraft, and if you can’t overdraft, there are no overdraft fees. If you were to attempt a transaction that would put your account in the red, your bank would simply deny that transaction.
Typically, no, being allowed to overdraft usually means having to pay a fee.
An exception would be that you’ve set up some sort of overdraft protection that withdraws money from another linked account, commonly a savings account at the same bank. Money from the linked account would be moved to your checking account to cover the transaction. For banks with overdraft protection that works like this, there usually isn’t a fee, since you’re using your own money to cover the overdraft.
Narrow down top checking accounts by monthly fees, APYs and features. For a better comparison, tick the Compare box on multiple accounts to see them side by side.
We currently don't have that product, but here are others to consider:
How we picked theseThe Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
Overdraft fees are a pain, and they can be expensive, often around $35 per incident. If you’d rather avoid overdrafting altogether, choose a checking account that doesn’t allow overdrafts so you never have to pay a fee. However, if you like the ability to overdraft, consider an account that offers overdraft protection services with no fees.
For more options, compare the best free checking accounts for no-fee and stress-free banking.
See how to earn up to $1,500 when you open a new Capital One savings or checking account with qualifying deposits.
The $500 Axos Bank bonus is now expired, but you can still earn $50 per qualifying referral, plus up to $400 with a new business account.
Discover only offers a bonus on its savings account, and it has a high deposit requirement. See how to get it here.
Earn a checking account bonus of $200 by getting the Upgrade Card and making 3 qualifying transactions.
Fifth Third Bank currently offers a $325 checking account bonus when you open a new account and set up qualifying direct deposits.
Earn $25 with Varo by referring a friend. See the fine print on how to earn this bonus here.
One of PNC’s best bonus offers is its $400 direct deposit bonus. But if you don’t meet the criteria, there are other ways to earn cash.
SoFi offers several bonus offers, including a direct deposit bonus, welcome offers and referral bonuses. See how to snag up to $300.
Instant sign-up bonuses with no deposit are not typically offered. However, these bank account bonuses have easy requirements.
Revolut’s personal account offers benefits for globetrotters, but the best perks require a monthly fee.