Haven’t visited a physical bank in years and want a free checking account? If so, then digital banks are probably right up your alley. Online banks don’t pay to maintain physical branches, and they pass those savings on to their customers. With no monthly fees, top-of-the-line mobile apps and quick online applications, the best free online bank accounts can offer numerous benefits.
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SoFi is an online, full-service, FDIC-insured bank that offers an online bank account with no monthly fee. SoFi's hybrid Checking and Savings account also has no opening deposit requirements and offers high APYs on checking and savings balances. With direct deposit, you become a SoFi Plus member which gets you the account's highest APYs, early paycheck arrival, overdraft protection and more. Get high FDIC insurance of up to $3 million, and compare a large suite of lending options, credit cards, business financing, and investing services. SoFi also accepts cash deposits for a small fee of up to $4.95 at Green Dot retail locations. You'll also get access to over 55,000 Allpoint ATMs. However, SoFi doesn't offer international wire transfers.
APY
Up to 3.80%
Fee
$0 per month
Minimum deposit to open
$0
SoFi is an online, full-service, FDIC-insured bank that offers an online bank account with no monthly fee. SoFi's hybrid Checking and Savings account also has no opening deposit requirements and offers high APYs on checking and savings balances. With direct deposit, you become a SoFi Plus member which gets you the account's highest APYs, early paycheck arrival, overdraft protection and more. Get high FDIC insurance of up to $3 million, and compare a large suite of lending options, credit cards, business financing, and investing services. SoFi also accepts cash deposits for a small fee of up to $4.95 at Green Dot retail locations. You'll also get access to over 55,000 Allpoint ATMs. However, SoFi doesn't offer international wire transfers.
Pros
No monthly fees
Up to 3.80% APY on savings and 0.50% on checking
Low-fee lending and investing options
High $3 million FDIC insurance
Accepts cash deposits
Cons
No international wires
Deposit requirements or monthly fee for best savings APY
Annual Percentage Yield (APY)
Up to 3.80%
Intro or bonus offer
Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until January 31, 2026.
Rewards
Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until January 31, 2026.
Fee
$0 per month
ATM transaction fee
$0
Foreign transaction fee
0%
Overdraft fee
$0
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1.
SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
A banking app and type of secured card for those looking to build a better credit history, Step's card has no monthly fees, overdraft fees or opening deposit requirements. The Step card works like a debit card, but its a secured card backed by your Step deposit account. Once per month, Step uses your deposit account to pay off your Step card without any interest charges. Step also offers up to 3% in cash back on select brands, and 1% to 2% on other purchases like dining, delivery and entertainment. The Step Black card steps it up a notch with up to 8% in cashback rewards, Visa signature exclusive event access and $1 million in FDIC insurance. Step Black costs $4.99 per month, but you can waive the fee with $500 in monthly direct deposits. On the downside, Step doesn't have a customer service phone line.
APY
4.00%
Fee
$0 per month
Minimum deposit to open
$0
A banking app and type of secured card for those looking to build a better credit history, Step's card has no monthly fees, overdraft fees or opening deposit requirements. The Step card works like a debit card, but its a secured card backed by your Step deposit account. Once per month, Step uses your deposit account to pay off your Step card without any interest charges. Step also offers up to 3% in cash back on select brands, and 1% to 2% on other purchases like dining, delivery and entertainment. The Step Black card steps it up a notch with up to 8% in cashback rewards, Visa signature exclusive event access and $1 million in FDIC insurance. Step Black costs $4.99 per month, but you can waive the fee with $500 in monthly direct deposits. On the downside, Step doesn't have a customer service phone line.
Bluevine is a fintech company with banking services backed by FDIC-insured Coastal Community Bank. Its business banking has three plans: Standard for $0/month, Plus for $30/month and Premier for $95/month. All plans offer unlimited transactions, 200 free checks if you maintain a balance and no foreign transaction or overdraft fees. The Standard plan offers up to 1.5% APY on balances up to $250,000 by spending at least $500 per month or receiving at least $2,500 per month in deposits. With a paid plan, you can earn either 2.7% or 3.7% APY with no activity requirements, and the monthly fee can be waived. There are also team management tools and up to $3 million in FDIC insurance. Plus, Bluevine is partnered with various ATM networks for deposits and withdrawals. But customer service is only available during weekdays, and there's a 2.90% fee when you pay bills with your credit card.
APY
Up to 3.70%
Fee
From $0 per month
Minimum deposit to open
$0
Bluevine is a fintech company with banking services backed by FDIC-insured Coastal Community Bank. Its business banking has three plans: Standard for $0/month, Plus for $30/month and Premier for $95/month. All plans offer unlimited transactions, 200 free checks if you maintain a balance and no foreign transaction or overdraft fees. The Standard plan offers up to 1.5% APY on balances up to $250,000 by spending at least $500 per month or receiving at least $2,500 per month in deposits. With a paid plan, you can earn either 2.7% or 3.7% APY with no activity requirements, and the monthly fee can be waived. There are also team management tools and up to $3 million in FDIC insurance. Plus, Bluevine is partnered with various ATM networks for deposits and withdrawals. But customer service is only available during weekdays, and there's a 2.90% fee when you pay bills with your credit card.
Pros
Free plan option
Earns up to 1.5% APY with free plan
Earn either 2.7% or 3.7% APY with paid plans
Up to $3 million in FDIC insurance
Offers business lines of credit
Create subaccounts
Cons
Limited customer support
$4.95 cash deposit fee
Fee for bill pay with a credit card
Annual Percentage Yield (APY)
3.70% on balances of $0 to $3,000,000 2.70% on balances of $0 to $250,000 1.50% on balances of $0 to $250,000
Intro or bonus offer
You can earn $300 when you open a new Bluevine Business Checking account and meet eligibility requirements. Apply with referral code CA300.
Chime is a fintech company that offers banking services. Most banks review your banking history when you apply for an account, but Chime won't look at your ChexSystems report, giving you a higher chance for approval if your banking history isn't squeaky clean. Its checking account has no monthly or foreign transaction fees. One of the better perks is the overdraft service called SpotMe®, which allows qualified users to fee-free overdraft up to $200 for eligible members which is repaid with their next direct deposit. There are cash advances for qualified users, Chime's Credit Builder Secured Visa® Credit Card card that works with the Chime Checking account and a peer-to-peer (P2P) payment system called Pay Anyone. On the downside, Chime doesn't offer joint accounts, you can't send wire transfers and it doesn't offer certificates of deposit (CDs) or money market accounts (MMAs).
Fee
$0 per month
Minimum deposit to open
$0
Chime is a fintech company that offers banking services. Most banks review your banking history when you apply for an account, but Chime won't look at your ChexSystems report, giving you a higher chance for approval if your banking history isn't squeaky clean. Its checking account has no monthly or foreign transaction fees. One of the better perks is the overdraft service called SpotMe®, which allows qualified users to fee-free overdraft up to $200 for eligible members which is repaid with their next direct deposit. There are cash advances for qualified users, Chime's Credit Builder Secured Visa® Credit Card card that works with the Chime Checking account and a peer-to-peer (P2P) payment system called Pay Anyone. On the downside, Chime doesn't offer joint accounts, you can't send wire transfers and it doesn't offer certificates of deposit (CDs) or money market accounts (MMAs).
Pros
No ChexSystems check
No monthly or foreign fees
Overdraft service SpotMe with direct deposit
Credit Builder secured card
Cash advances and P2P payments
Cons
No joint accounts
No wire transfers
No CDs or MMAs
Annual Percentage Yield (APY)
N/A
Rewards
Cash back offers on everyday purchases through the app
Fee
$0 per month
Nonsufficient funds fee
$0
ATM transaction fee
$0
Foreign transaction fee
0%
Overdraft fee
$0
Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC. ATMs: Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM. Deposit: Once the retailer accepts your cash, the funds will be transferred to your Chime Checking Account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade. Mobile Deposit: Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member's direct deposit enrollment status. Chime Savings Account: Chime Checking Account is required to be eligible for a Savings Account. APY: The Annual Percentage Yield (“APY”) is variable and may change at any time. The disclosed APY is accurate as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest. Get Paid Early: Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. Credit Builder: To apply for Credit Builder, you must have an active Chime® Checking Account. SpotMe: SpotMe® for Credit Builder is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account; SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month. Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member’s Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. SpotMe for Credit Builder and SpotMe on Debit share a single SpotMe limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won't cover non card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe Terms and Conditions. Federal Tax Return Direct Deposit: Chime members may choose to direct deposit their state and/or federal tax refunds with Chime. They may choose to direct deposit no matter what tax preparer they choose. They do not need to file through Chime in order to direct deposit their refund. If a member does direct deposit their federal refund they may receive the refund up to 6 days early. This only applies to federal refunds, not state. When marketing the speed of the tax refund it must always include the following elements: federal tax refund, up to 6 days early, with direct deposit. MyPay®: MyPay® is only offered in select states
Upgrade is a fintech with banking partners. The Upgrade Rewards Checking Plus has no overdraft or monthly maintenance fees. By setting up direct deposit of at least $1,000 per month, you can earn up to 2% cash back at places like convenience stores, drugstores, restaurants and bars (up to $500 per year). And you can earn 1% unlimited cash back on all other purchases. This checking account also provides one free domestic wire transfer fee per month and no-fee cash withdrawals at over 55,000 Allpoint ATMs nationwide. But just know if you don't meet direct deposit requirements, your cashback rate drops. And like most fintechs, Upgrade doesn't accept cash deposits.
Fee
$0 per month
Minimum deposit to open
$0
Upgrade is a fintech with banking partners. The Upgrade Rewards Checking Plus has no overdraft or monthly maintenance fees. By setting up direct deposit of at least $1,000 per month, you can earn up to 2% cash back at places like convenience stores, drugstores, restaurants and bars (up to $500 per year). And you can earn 1% unlimited cash back on all other purchases. This checking account also provides one free domestic wire transfer fee per month and no-fee cash withdrawals at over 55,000 Allpoint ATMs nationwide. But just know if you don't meet direct deposit requirements, your cashback rate drops. And like most fintechs, Upgrade doesn't accept cash deposits.
Pros
No monthly fees
Up to 2% cash back
55,000 fee-free ATM network
One free domestic wire per month
Cons
Can't make cash deposits
Direct deposit requirements for best cashback rate
Annual Percentage Yield (APY)
N/A
Rewards
Up to 2% cash back on everyday purchases for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases
Fee
$0 per month
Nonsufficient funds fee
$0
ATM transaction fee
$0
Foreign transaction fee
3%
Overdraft fee
$0
Rewards Checking Plus customers who set up monthly direct deposits of $1,000 or more earn 2% cash back on common everyday expenses at convenience stores, drugstores, restaurants and bars - including deliveries - and gas stations, as well as recurring payments on utilities and monthly subscriptions including phone, cable, TV and other streaming services, and 1% cash back on all other debit card purchases. 2% cash back is limited to $500 in rewards per calendar year; after $500, customers earn 1% cash back on all eligible debit card purchases for the remainder of the year. Rewards Checking Plus accounts with less than $1,000 in monthly direct deposits 60 days after account opening will earn 1% cash back on common everyday expenses and 0.50% cash back on all other eligible debit card purchases. Some limitations apply. Please refer to the applicable Upgrade Visa® Debit Card Agreement and Disclosures for more information.
Upgrade is a financial technology company, not a bank. Rewards Checking services provided by Cross River Bank, Member FDIC. Upgrade Visa ® Debit Cards issued by Cross River Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.
Earn $250 bonus when you use code CHECKING250 and set up at least 2 qualifying direct deposits each of $500 or more to your 360 Checking account within 75 days of account opening. Terms Apply.
Capital One 360 Checking is a great free checking account for the regular traveler. There are no foreign ATM fees, foreign transaction fees or currency transaction fees. There are also no monthly fees and no minimum deposit requirements, and you'll have access to over 70,000 fee-free Capital One and Allpoint ATMs. You can choose different overdraft options, including an auto-decline or a free transfer that sends funds from another account into your checking to prevent overdrafts. Capital One is also integrated with the Zelle app and offers checkbooks. However, there are some fees for services like outgoing wire transfers or getting a checkbook, as well as a possible insufficient funds fee of $9.
APY
0.10%
Fee
$0 per month
Minimum deposit to open
$0
Capital One 360 Checking is a great free checking account for the regular traveler. There are no foreign ATM fees, foreign transaction fees or currency transaction fees. There are also no monthly fees and no minimum deposit requirements, and you'll have access to over 70,000 fee-free Capital One and Allpoint ATMs. You can choose different overdraft options, including an auto-decline or a free transfer that sends funds from another account into your checking to prevent overdrafts. Capital One is also integrated with the Zelle app and offers checkbooks. However, there are some fees for services like outgoing wire transfers or getting a checkbook, as well as a possible insufficient funds fee of $9.
Pros
$0 international ATMs
No currency or foreign transaction fees
Multiple overdraft protection options
Large ATM network
Cons
Extra services may come with fees
$40 to send domestic wires
Annual Percentage Yield (APY)
0.10% on balances of $0.01+
Intro or bonus offer
Earn $250 bonus when you use code CHECKING250 and set up at least 2 qualifying direct deposits each of $500 or more to your 360 Checking account within 75 days of account opening. Terms Apply.
Ally Bank is one of the best and largest online banks. The Ally Spending account has no monthly or overdraft fees and offers a feature called 'buckets,' which lets you organize spending and savings goals. The account is also interest-bearing, offering 0.1% APY for balances under $15,000 and 0.25% APY for balances higher than that. Ally's savings and CD APYs are also high, and it's rare to see an online bank with CDs at all. You can also browse its various lending options, like mortgages, credit cards, auto loans and personal loans. To make up for the lack of branches, Ally offers extended phone hours and a 24/7 customer support chat function. However, it doesn't accept cash deposits.
APY
Up to 0.25%
Fee
$0 per month
Minimum deposit to open
$0
Ally Bank is one of the best and largest online banks. The Ally Spending account has no monthly or overdraft fees and offers a feature called 'buckets,' which lets you organize spending and savings goals. The account is also interest-bearing, offering 0.1% APY for balances under $15,000 and 0.25% APY for balances higher than that. Ally's savings and CD APYs are also high, and it's rare to see an online bank with CDs at all. You can also browse its various lending options, like mortgages, credit cards, auto loans and personal loans. To make up for the lack of branches, Ally offers extended phone hours and a 24/7 customer support chat function. However, it doesn't accept cash deposits.
Pros
$0 Spending account
Organize spending and saving with buckets
Interest-bearing checking
43,000 fee-free ATMs
24/7 customer support
Cons
Can't make cash deposits
Annual Percentage Yield (APY)
0.25% on balances of $15,000+ 0.10% on balances of to $15,000
Prefer a not-for-profit option? Alliant Credit Union is an online credit union that allows nearly anyone to become a member. Its high-yield checking account has no monthly fees, overdraft fees or balance requirements. You'll earn 0.25% APY on your balance, have fee-free access to over 80,000 ATMs and get up to $20 in out-of-network ATM reimbursements. If you live outside its service area, you can make a one-time donation to the Alliant Credit Union Foundation to become an Alliant member. Alliant's accounts have competitive interest rates and few fees, and it offers lending and investing services, savings and CDs with high APYs, teen checking and kid savings accounts. But Alliant doesn't offer business banking.
APY
0.25%
Fee
$0 per month
Minimum deposit to open
$0
Prefer a not-for-profit option? Alliant Credit Union is an online credit union that allows nearly anyone to become a member. Its high-yield checking account has no monthly fees, overdraft fees or balance requirements. You'll earn 0.25% APY on your balance, have fee-free access to over 80,000 ATMs and get up to $20 in out-of-network ATM reimbursements. If you live outside its service area, you can make a one-time donation to the Alliant Credit Union Foundation to become an Alliant member. Alliant's accounts have competitive interest rates and few fees, and it offers lending and investing services, savings and CDs with high APYs, teen checking and kid savings accounts. But Alliant doesn't offer business banking.
Pros
No monthly fees on checking or savings
High APYs
Kid accounts
Investing and lending services
Large ATM network
Cons
Must become a member
No business bank accounts
Annual Percentage Yield (APY)
0.25%
Fee
$0 per month
Nonsufficient funds fee
$25
ATM transaction fee
$0
Foreign transaction fee
1%
Overdraft fee
$0
APY
0.25%
Fee
$0 per month
Minimum deposit to open
$0
verified_userFDIC Insured
Methodology
Finder’s banking experts analyze over 150 online federally-insured banks and fintechs to narrow down the best options. We chose the best options based on multiple factors, including state availability, monthly fees, mobile apps and more. We also favor online banks that accept cash deposits, although it’s not a requirement.
$0 monthly fee
$0 minimum opening deposits
$0 overdraft fees
Must be an online bank, credit union or fintech company
Available in all 50 states
How to compare free online checking accounts
Online banks may not have all the same products as traditional banks, but they make up for it with fewer fees, higher insurance coverage and top-of-the-line tech.
Monthly fee. Online banks typically offer fee-free checking accounts. Traditional banks may nickel and dime you with monthly maintenance fees of $5 to $25 per month just to keep the account open.
Insurance coverage. Some online fintech companies offer banking services through an FDIC-insured partner bank or a network of banks. Those that partner with more than one bank provide insurance that exceeds the typical $250,000 coverage amount, such as SoFi, which offers up to $3 million in FDIC coverage.
Site and mobile app. Look for speed, accuracy and ease of navigatation on the bank’s website and online platform. After all, you’ll need to manage your account primarily online.
Customer service. Some online banks are limited in terms of customer service, but many offer 24/7 chat support, phone support and automated chat support. Since you can’t visit a branch, make sure the customer service is accessible and offers extended support hours.
ATMs. Most online banks don’t have their own ATM network. Instead, they’re part of a shared network of ATMs like AllPoint. However, many online banks don’t offer cash deposits, and those that do often use Green Dot locations, which typically charge a $4.95 fee.
Savings APYs. Online banks consistently have some of the highest savings APYs in the market, including Varo, Upgrade and Marcus.
If you don’t need to make frequent cash deposits and are comfortable with online banking, the payout and convenience of digital banks can be worth the lack of branch access. Many of us have said goodbye to regular bank trips anyway, thanks to mobile and online banking.
But if you prefer branch access or frequently make cash deposits, a traditional bank or credit union may be more your speed.
Convenience. With bank apps and online portals, trips to the bank have nearly become obsolete. An app allows you to make mobile check deposits, access early paychecks, transfer funds between accounts, view bank statements, pay bills and much more.
No monthly fees. Since online banks don’t have to pay for physical branches, most offer checking and savings accounts without annoying monthly maintenance fees.
High APYs. For the same reason online banks often don’t charge monthly fees on deposit accounts, they can offer higher APYs and pass on more savings to their customers with high savings rates. Many online banks offer savings accounts with APYs around 5% — over 11 times higher than the national average of
0.42%.(1)
Souped-up mobile apps. Without physical branches, online banks are compelled to provide great mobile apps since that’s how their customers will manage their accounts. You’ll likely get mobile check deposit features, peer-to-peer payment options, budgeting tools, in-app chat features and much more.
Cons
No physical branches. Without branch locations, you’ll have to rely mainly on electronic communication to resolve issues, such as chat support or email. If possible, look for an online bank with a customer support phone line.
May not accept cash deposits. Unless the online bank has an ATM network that can accept cash, you’ll have to do electronic transfers or mobile check deposits.
Limited account options. Some online banks, like Ally or SoFi, only offer one or two account options. Traditional banks like Wells Fargo or Chase tend to offer various account options.
Digital banking is growing in popularity in the US, with roughly 37% of American adults saying they do at least some of their banking online, and 19% saying they exclusively bank online.
You may need to submit some documents to verify your identity, such as a driver’s license or government-issued identification, and provide a deposit via ACH transfer from an existing, external bank account.
Bottom line
Choosing the best online bank for your needs ensures you can manage your money with ease wherever life takes you. Learn more about how online banking works so you know what to expect when you open and set up your account.
Frequently asked questions
What is the best online bank?
A few of the best online banks include SoFi, Ally Bank, First Internet Bank and Axos Bank. These banks are FDIC-insured on their own and have accounts with low fees and high savings rates.
Can you trust an online bank?
The most important factor when choosing an online bank is making sure it has FDIC or NCUA insurance. Typically, banks offer up to $250,000 in coverage, meaning that if the bank were to fail, your deposit accounts are covered up to that amount.
Just keep in mind that deposit insurance is per depositor, not per deposit account. If you need more insurance, look to banks or fintechs like SoFi, Wealthfront or Bluevine for higher-than-average deposit insurance.
What’s the easiest bank account to open?
Most online banking options have fast and easy online applications that can be completed in minutes, and approval can be sent near-instantly. Online banks with quick applications that only take a few minutes to complete include SoFi, Axos and Ally Bank.
Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio
Bethany's expertise
Bethany has written 439 Finder guides across topics including:
Does bank of America have a fee free checking account if so where do I apply
nikkiangcoDecember 12, 2018
Hi Candy,
Thanks for reaching out! Upon checking, Bank of America doesn’t have a fee free checking account. Hope this was helpful. Don’t hesitate to message us back if you have more questions.
If you’ve fallen victim to debit card fraud, you may be eligible to receive a refund.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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Does bank of America have a fee free checking account if so where do I apply
Hi Candy,
Thanks for reaching out! Upon checking, Bank of America doesn’t have a fee free checking account. Hope this was helpful. Don’t hesitate to message us back if you have more questions.
Best,
Nikki