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15 Best Free bank Account Online With no Minimum Balance

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Free bank Account Online: You can manage your money from anywhere with a First Citizens free checking account, and there is no monthly maintenance fee. Open a fee-free checking account online and save your money with peace of mind.

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15 Best Free bank Account Online With no Minimum Balance

Free bank Account Online

Depending on where you bank, what you do, or what you are comfortable with, there’s probably a free checking account that will work for you.

Too numerous people fall for the myth that banking is precious and that the only options for a checking account involve freights, or maintaining outrageously high balances to keep the freights waived.

But at the moment, we are fighting this myth.

Free Online Banking Accounts

We are going to show you our favorite options depending on your situation, as well as a full round-up of free checking account options that might work for you.

1. Discover Cashback Debit

Discover offers the Cashback Debit Checking Account. This checking account allows you to earn up to 1% cashback on up to $3,000 in debit card purchases every month.

This account has no fees or minimum balance requirements including free-free overdraft protection! And, you can get your paycheck up to two days early with no charge!

They are very mobile-friendly, have access to over 60,000 free ATMs, and even have no-fee check ordering. Read our full Discover bank review here.

Discover Cashback Debit Account

Min Opening Deposit – $0

Min Balance Requirement – $0

Monthly Fee – $0

Rewards – 1% cash back on up to $3,000 in purchases per month

ATM Access – 60,000 Free ATMs

Availability – Nationwide

Promotions – None

Click here to Open an Account

2. TIAA Bank

This bank formerly known as EverBank gives savers some nice options for parking their money.

Certificate of deposit (CD) rates historically have been competitive, and the interest checking account has a low minimum balance requirement.

But there are caveats, including a lack of branch access.

Those who want to earn some of the best rates on CDs, have access to a large ATM network and are unlikely to overdraft or need in-person services.

More Information About TIAA Bank

The basic savings account earns 0.50% APY, which is more than you’ll find at some big banks, and on par with some of the best rates from other online banks.

You need just $25 to open an account. If you keep an average daily balance of $25 in your savings account, you can avoid a $5 monthly fee.

Though other banks offer savings accounts with no monthly fee, the minimum requirement to get TIAA’s fee waived is low and the account’s interest rate is competitive.

The Pros and Cons of TIAA Bank

Pros

‣ CDs with highly competitive rates.

‣ Large ATM network.

‣ Interest checking with a low minimum balance requirement.

Cons

‣ Very few branches, all in Florida.

‣ Overdraft fee charged without a linked TIAA account or line of credit.

Open Account

3. Chime Free Checking

Chime was one of the original free mobile banking apps that revolutionized mobile banking.

They started with a mobile-first mindset and also wanted to keep fees as low as possible.

As such, they have a top-notching free checking account if you’re okay with a mobile-only platform.

Chime has no physical locations, and all of its banking is done online in the app.

Chime Free Checking Account

Min Opening Deposit$0

Min Balance Requirement – $0

Monthly Fee – $0

Earns Interest – 0.50% APY

ATM Access – 38,000 ATMs nationwide

Availability – Nationwide

Promotions – None

Open Account

4. Chase Total Checking®

The Chase Total Checking® isn’t truly free unless you meet the minimum monthly requirements to make it so.

But we list it as our favorite checking account because it’s available nationwide online.

Also, it has branches nearly everywhere and is one of the most robust banking products out there currently.

Plus, the minimum requirements are super easy to meet.

More Information

And right now, you can get up to a $200 bonus when you open an account and set up a direct deposit! That’s awesome!

Chase Total Checking® has a $12 per month fee that’s easily waived if you simply do ONE of the following:

1. Keep a minimum daily balance of $1,500 or more in your account

2. Have monthly direct deposits totaling $500 or more into your account

3. Keep an average daily balance of $5,000 across qualifying Chase accounts

Chase Total Checking® has a great account opening bonus, with one of the largest, most well-known banks in the United States.

Chase Total Checking® Account

Min Opening Deposit – $0

Min Balance Requirement – $0

Monthly Fee – $12 * (waived when requirements met)

Earns Interest – No

ATM Access – 16,000 ATMs Nationwide

Availability – Online Nationwide, except HI, AK, and PR

Promotions – $200 Bonus

Click here to Open an Account

5. Current Bank

Current is a leading mobile banking app that has been endorsed by a huge range of personalities, including YouTuber Mr. Beast.

It makes banking convenient and easy it’s that simple. “Free Bank Account Online”

Current offers both a free and premium version but the free product is a solid checking account that you should consider.

More Information

It offers no minimum balance requirements, no overdraft fees, fee-free ATM withdrawals at over 40,000 ATMs, and 1x points for cashback!

Plus, you can get up to 4.00% APY on balances up to $6,000 by adding money to your Savings Pods and enabling the Interest feature.

You can upgrade to premium if you want even more perks. Current free checking has free mobile banking.

Current Free Checking Account

Min Opening Deposit – $0

Min Balance Requirement – $0

Monthly Fee – $0

Earns Interest – 4% APY on balances of up to $6,000

ATM Access – 40,000 Fee-Free ATMs nationwide

Availability – Nationwide

Promotions – None

Click here to Open Account

6. Capital One

Capital One stands out with one of the best combinations of online bank perks no checking or savings fees, a competitive savings rate and high CD rates, and a brick-and-mortar presence.

It offers a top-of-the-line bank experience with strong customer support and doesn’t charge any overdraft fees.

This bank is best for customers who want free checking and savings accounts with strong rates, might be likely to overdraft and prefer a bank that’s mostly online.

More Information

The Capital One 360 Performance Savings Account interest rate is 0.40% APY, significantly higher than the national average of 0.06%.

There’s no minimum deposit required to open this account, and no monthly maintenance fee. “Free Bank Account Online”

Pros and Cons of this Bank

Pros

‣ Good interest rates.

‣ No monthly fees.

‣ No minimum balance to open checking, savings, and CDs.

‣ No overdraft fees.

Cons

‣ Though it offers branches, there are only about 325, and they’re scattered.

Open Account

7. Ally Bank

Ally Bank is online-only; the money it saves on overhead, it can pass to customers in the form of high-interest rates and minimal fees.

For example, the bank doesn’t charge overdraft fees. “Free Bank Account Online

It also has convenient customer service options and is ideal for people who don’t need branch access for their banking.

This bank is best for those who want competitive rates, minimal fees, easy access to customer support and don’t need to deposit cash or access in-person services.

The Pros and Cons of Ally Bank

Pros

‣ No monthly maintenance fees or minimum balances on checking savings or CDs.

‣ Access to over 43,000 free ATMs via checking or money market accounts.

‣ An above-average interest rate on savings.

‣ No overdraft fees.

Cons

‣ No way to deposit cash.

‣ No branches available.

Ally’s savings account offers a rate of 0.50%, much higher than the national average of 0.06%, and interest is compounded daily.

However, this means you’ll make a bit more money on interest compared with accounts that compound monthly.

To match federal regulation changes, Ally is temporarily refunding customers who are charged an excessive transaction fee for making more than six withdrawals or transfers per cycle.

Ally Bank Checking

Min Opening Deposit – $0

Min Balance Requirement – $0

Monthly Fee – $0

Earns Interest – Up to 0.60% APY

ATM Access – 43,000 Free ATMs, Up To $10 In Reimbursement/Mo

Availability – Nationwide

Promotions – None

Open Account

8. Axos Rewards Checking

Axos Bank calls itself America’s most experienced digital bank.

And their Rewards checking account hits every feature you’d expect from a top-notch online bank.

Rewards Checking has no minimum balance requirements, no monthly fees, and no overdraft or insufficient fund fees. Plus, they offer unlimited domestic ATM reimbursements!

More Information

Axos Bank does require that you have good banking history to get approved.

What’s great about this account is that it’s monthly fee-free, but also pays interest. You can earn up to 1.25% APY right now!

However, it’s tiring, so here’s what you need to know:

1. Baseline: 0.40% APY when you receive monthly direct deposits totaling $1,500 or more. This is required to unlock the remaining tiers.

2. Debit Card Spending or Personal Finance Manager: 0.30% APY when you use your Axos Visa Debit Card for a total of 10 transactions per month (min $3 transactions) or sign up for Personal Finance Manager in Online Banking.

3. Managed Portfolios: 0.20% APY when you maintain an average daily balance of $2,500 in an Axos Invest Managed Portfolios Account.

4. Self-Directed Trading: 0.20% APY when you maintain an average daily balance of $2,500 in an Axos Invest Self Directed Trading Account.

5. Loan Payment: 0.15% APY when you used your Rewards Checking account to make your full monthly Axos Bank consumer loan payment (mortgage, auto, and personal loans are eligible).

Axos Rewards Checking Account

Min Opening Deposit – $0

Min Balance Requirement – $0

Monthly Fee – $0

Earns Interest – Up to 1.25% APY

ATM Access – Unlimited via ATM fee reimbursement

Availability – Nationwide

Promotions – None

Open Account

9. GO2bank

GO2bank is a mobile bank that is working to take mobile banking to the next level.

What we love about GO2bank is that they are really helping people access banking who may have never had a bank account before.

GO2bank was created by Green Dot Corp, which many people may already be familiar with.

More Information

This account has a $5 monthly fee, but it’s easily waived if you receive an eligible direct deposit payment during the previous monthly statement period.

Plus, the perks are amazing. You can currently earn 1.00% APY (Annual Percentage Yield) on up to $5,000 in your savings account, paid quarterly.

More Information About GO2bank

You can also earn up to 7% cashback when you purchase eGift Cards from the nearly 100 popular merchants in the GO2bank mobile app as well as 3% cashback on Amazon eGift Cards bought in the app.

Plus, they offer up to $200 in overdraft protection with opt-in and eligible direct deposit.

GO2bank has a savings account that earns interest combined with a deposit account that has amazing overdraft protection.

GO2bank Checking Account

Min Opening Deposit – $0

Min Balance Requirement – $0

Monthly Fee – $5 (waived with qualifying direct deposit)

Earns Interest – 1.00% APY on first $5,000

ATM Access – 19,000 Fee-Free ATMs

Availability – Online Nationwide

Promotions – None

Open Account

10. Quontic High-Interest Checking

Quontic Bank recently launched a High-Interest Checking Account.

This account is a great way to earn interest on your money, especially with the balance limits they offer.

And even if you don’t meet the criteria, this is still a great free checking account!

Quontic High-Interest Checking Account Tiers

This account currently has three tiers of interest:

Tier 1: $0 to $150,000: 1.01% APY

Tier 2: $150,001 to $1,000,000: 0.35% APY

Tier 3: $1,000,001+: 0.00% APY

You do have to have a minimum balance of $100, and you must make 10 qualifying debit card point-of-sale transactions of $10.00 or more per statement cycle.

If you fail to meet these minimums, you’ll get just 0.01% APY. “Free Bank Account Online”

With quontic high-interest checking, you can earn the highest rate on a lot of your balance.

Quontic Bank High-Interest Checking

Min Opening Deposit – $100

Min Balance Requirement – $100

Monthly Fee – $0

Earns Interest – Up to 1.01% APY

ATM Access – 90,000 Fee-Free ATMs nationwide

Availability – Nationwide

Promotions – None

Open Account

11. OnJuno Checking Account

OnJuno is a crypto-friendly mobile bank that offers an incredibly compelling APY so we wanted to include it here.

While OnJuno is technically a checking account, it offers an amazing interest rate that will make savers want to take notice. The only drawback is the limits.

Right now, you can earn up to 1.20% APY on balances up to $30,000. After that, it drops to 0.25% APY on balances up to $100,000.

More Information

They offer two different accounts:

1. Basic Checking: Up to 1.20% APY on balances up to $5,000

2. Metal Checking: Up to 1.20% APY on balances up to $30,000, but there is a fee of $9.99 per month after a 6-month free trial. You can still earn a higher APY for those 6 months.

Their account has just a $0 minimum to open and no monthly maintenance fees!

Right now, you can get a $100 bonus offer when you open a new account and complete your first direct deposit of $500 or more!

OnJuno account has a high-interest rate on a checking account. “Free Bank Account Online”

OnJuno Account Checking

Min Opening Deposit – $0

Min Balance Requirement – $0

Monthly Fee – $0 to $9.99/mo

Earns Interest – Up to 1.20% APY

ATM Access – 85,000 Free ATMs

Availability – Nationwide

Promotions – $100

Open an Account and Earn a $100 bonus!

12. Wealthfront Cash Account

Wealthfront (the popular Robo-advisor) recently launched a high-interest checking account, the Wealthfront Cash Account.

This account is a great way to earn interest on all of your money and get your paycheck up to two days early.

What’s great about the account is that it provides no account fee banking for all of your spending needs and also earns interest.

More Information

It currently pays 0.35% APY and you can get started with just $1.

They are very mobile friendly, with 19,000 fee-free ATMs, mobile check deposits, and BillPay.

They have an interest-bearing checking connected to a solid Robo-advisor.

Read Also:

Wealthfront Cash Checking Account

Min Opening Deposit – $1

Min Balance Requirement – $0

Monthly Fee – $0

Earns Interest – 0.35% APY

ATM Access – 19,000 Fee-Free ATMs

Availability – Nationwide

Promotions – None

Open Account

13. Alliant Credit Union Bank

Many credit unions offer better interest rates than banks do, but they also may have narrow membership requirements and less polished technology.

But Alliant Credit Union combines the best of both worlds with broad membership criteria and strong rates, plus a good tech experience.

This bank is best for Consumers who want high-yield checking and saving rates and a large ATM network.

Alliant Credit Union Bank Pros and Cons

Pros

‣ More than 80,000 free ATMs.

‣ Interest rates on checking and savings are well above average.

‣ No overdraft fees.

Cons

‣ No branches.

14. Bank5 Connect

Bank5 Connect, like other online banks, has accounts with no monthly fees and higher savings rates than many brick-and-mortar institutions.

It has a simple mobile-friendly platform and free access to a huge ATM network. “Free Bank Account Online”

Bank 5 Connect is not available to people who live in Massachusetts or Rhode Island.

For those residents, the territory is covered by the bank’s brick-and-mortar parent company, BankFive.

Bank5 Connect Pros and Cons

Pros

‣ Above-average rates on deposit accounts, including checking.

‣ No monthly fees if you choose paperless statements.

‣ ATM fee reimbursements.

Cons

‣ No physical branches.

‣ Not available to residents of Massachusetts or Rhode Island.

‣ Open Account

15. Connexus Credit Union Checking Account

Connexus Credit Union checking account offerings are strong, with the potential to earn high rates.

Its website and online and mobile banking platforms are also generally helpful.

The credit union is part of shared ATM and branch networks across credit unions nationwide. But its savings account has a relatively low rate.

Connexus Credit Union Checking Account Pros and Cons

Pros

‣ 1.75% on Xtraordinary Checking, if a couple of requirements are fulfilled.

‣ No monthly fees on checking or savings accounts.

‣ Over 54,000 free ATMs are available.

Cons

‣ Better rates are available elsewhere on savings.

‣ $5 inactivity fee for checking or savings with less than $100 and no activity over a certain number of months.

Open an Online Free Account of Alfalah Bank

Bank Alfalah is one of the largest banks in Pakistan, with a network of 700+ branches across more than 200 cities in the country.

Also, an international presence in Afghanistan, Bangladesh, Bahrain, and the UAE.

The Bank also has a representative office in Abu Dhabi. Bank Alfalah is owned and operated by the Abu Dhabi Group.

More Information

The Bank provides financial solutions to consumers, corporations, institutions, and governments through a broad spectrum of products and services.

These services include corporate and investment banking, consumer banking, and credit.

And also securities brokerage, commercial, SME, Agri-finance, Islamic, and asset financing solutions.

Bank Alfalah PKR Current Account

Enjoy your everyday banking needs with absolute ease through our non-interest-bearing Current Account, giving you instant access to your cash from any branch across our growing network.

It offers transactional privileges to both individuals and businessmen who have frequent transaction needs and funds accessibility requirements.

Current Account Features and Benefits

1. Minimum monthly balance requirement of Rs. 5,000 only*

2. Account opening requirement of Rs. 1,000

3. First Cheque book free

4. Five Bankers Cheque free per month on maintaining an average balance of Rs.50,000 and above. Any further PO/DD will be charged as per SOC

5. No restriction on the number of monthly deposit or withdrawal transactions

6. Easy access to funds through cheque book and VISA Debit/ATM Card that can be used globally at over 30 million outlets and at more than 2 million ATMs

7. Free within city online banking across Bank Alfalah branches

Bank Alfalah Savings Account

Enjoy your basic banking needs with complete ease while you also start earning profits on your savings for a more protected tomorrow.

This account is tailored for individual savers and businesses who seek returns on their deposits as well as continuous access to their funds.

Saving Account Features and Benefits

1. Open with an initial deposit of Rs 100 only

2. No monthly minimum balance requirement

3. Profit is calculated on the average balance

4. Profit is paid semi-annually

5. No restriction on the number of monthly deposit or withdrawal transactions

6. Easy access to funds through cheque book and VISA Debit/ATM Card that can be used globally at over 30 million outlets and at more than 2 million ATMs

7. The convenience of online banking across all Bank Alfalah branches nationwide.

For More Information Click here

How do you Open Free Bank Account Online

When you’re ready, it’s extremely easy to open a new checking account.

While the process will vary if you’re opening an account online.

You simply need to fill out the personal information, including Name, Address, and SSN, and you’re set.

More Information

Some banks may need you to upload copies of your identification or other items. You can typically do this online.

When it comes time to fund your account, you can simply set up a transfer into the account.

If you’re opening an account at a brick-and-mortar bank, the same steps will apply, except you will need cash or a check to fund the account.

The Pros and Cons of Online Checking Account

The pros

1. 24/7 Access: With online banking, you can access your account securely day or night.

2. Fewer Fees: Online checking accounts tend to charge fewer fees than traditional banks since online providers have lower overhead.

3. User-friendly Technology: Online providers typically have well-designed websites and mobile apps for doing your banking, including tasks such as depositing checks and paying bills.

The Cons

1. No in-Person Customer Service: Online institutions typically don’t have branches, which may be a deal-breaker for customers who prefer face-to-face assistance.

2. Cash Deposits Sometimes can be Difficult: Some online banks and nonbanks work with ATM networks to allow cash deposits, but others allow only mobile check deposits, direct deposits,s or electronic transfers from other banking accounts.

If you have any questions concerning Free bank Account Online, please feel free to use the comment box below and ask us your question. We will be very pleased to answer you.

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