Saving money on free checking accounts does not need to be complicated. Here is a clear, no nonsense rundown of what works and how to make the most of it.
Key Takeaways
- The best checking accounts are free, and most offer perks to their shoppers.
- Best Free Checking Accounts (adsbygoogle = window.adsbygoogle || []).push({}); Money expert Clark Howard has strong opinions on where you should do your banking.
- His main tenets about banking are to avoid paying fees and to pick a bank that genuinely cares about you as a shopper.
- All of the choices below are federally insured for at least $250,000 per account.
Getting the Most From Free Checking Accounts
If you’re after a new checking account, read on: I’ll tell you which factors matter, which accounts to consider, and perhaps just as importantly, which ones to avoid. Worth noting: in developing the list below, I considered factors such as the availability of ATM networks, online services like mobile deposits and the quality of mobile apps.
After reviewing dozens of checking account choices, I’ve listed eight in alphabetical order below. All of the choices meet Clark’s criteria.
Tips That Make a Difference
More importantly, there isn’t a significant difference between these accounts. You should pick the account that offers the highlights that are most key to you.
I’ve also provided a table of additional checking accounts that didn’t quite make our list but could be excellent choices for specific people (USAA for those with military connections, for instance). Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.
Common Mistakes to Avoid
Remember that out-of-network ATM withdrawal and over the counter advance fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM. Fidelity Investments Learn More APY: 1.84% Monthly Fees: $0 Minimum Balance: $0 Minimum Deposit: $0 ATMs: 1,000,000+ LendingClub Banking Learn More APY: 0.0%/1.00% Monthly Fees: $0 Minimum Balance: $0 Minimum Deposit: $25 ATMs: 500,000+ Wealthfront Learn More APY: 3.3.
Frequently Asked Questions
How can I save money on free checking accounts?
Compare prices across a few retailers, look for active coupon codes, and time bigger buys around sales events. Worth noting: in developing the list below, I considered factors such as the availability of ATM networks, online services like mobile deposits and the quality of mobile apps.
Is it worth shopping around for free checking accounts?
Usually yes. After reviewing dozens of checking account choices, I’ve listed eight in alphabetical order below.
Smart Ways to Save More on Free Checking Accounts
- Pair cashback with a coupon so you save twice on the same order.
- Stack a coupon code with an existing sale whenever the store allows it.
- Sign up for the retailer newsletter to catch first time and seasonal discounts.
- Compare the final price including shipping, not just the headline number.
- Check for student, military, or first order offers you may qualify for.
Final Thoughts
The bottom line on free checking accounts: a little research goes a long way. Compare your options, watch for seasonal offers, and never pay full price when a better deal is a click away.
Originally published at clark.com.
