It is difficult to find a checking account without any fee these days, but still there are some banks who offer a free checking account without any monthly fees and there are others who waive off the fees by accepting some conditions.
1. Bank of America – Free Myaccess Checking
Easiest to setup and provides a Check Card (ATM/Debit), free online transfers and Bill Pay and many other features of a normal account. But there are no free cheque (check) and no fancy offers. But the good thing is, if you apply online you will receive your kit without requiring any manual intervention. The good part is that if you have a SSN, you can complete the account opening process in few minutes and get started within a week. There are so many BoA ATM’s available through out the country, it is very easy to use the free benefits. The account can be linked to any existing savings or credit card accounts.
US Bank offers more varieties of free checking and Savings accounts, and if you have a nearby branch it is much faster to open the same. But opening online you might need to fax some documents to their main office and it will take sometime for verification and the overall process. But you do get Cheque (check) Book in some of the plans.
3. Capital One Bank – Free Interest Online Checking or Rewards Online Checking
Capital One is entering the banking sector after its success in Credit Card business, they are offering a variety of free checking solutions, but the main problem is availability of their ATM’s. But they do offer a $10 credit at the end of the statement cycle to compensate any ATM Fees. And you can always use retail shops to get cash back during your purchases. They offer one of the best interest rate of 1.01 APR for any of the checking accounts along with Discover Bank.
4. Wells Fargo – Custom management Checking
You can waive the monthly fee by opening a savings account with the Checking account and setting up a monthly transfer of minimum $25 dollars to your Savings account from Checking account. Wells Fargo provides a rewards card , free online access and multiple cheque books.
5. Chase Bank – Chase Checking
If you have your direct deposit (minimum of $500) or 5 transactions in a statement period in the checking account the account fees are waived off. Chase enrolls you in Ultimate Rewards program which provides unlimited rewards (1% of your transaction value in $)
There are other free options from smaller banks like Huntington , Ally Bank , Zions and most of the local credit unions. But the above are the top five Bankers with a free option.