Banking on the Best: Top Free Online Checking Accounts for Beginner Savers

As a beginner, choosing the right checking account can be a challenging task. With so many banks and credit unions to choose from, it can be overwhelming to know where to start. One key feature to consider when selecting a checking account is whether it comes with a monthly maintenance fee. A checking account with no monthly maintenance fee can help you save money and avoid unnecessary charges. In this post, we’ll explore some of the best free online checking accounts for beginners.

CapitalOne 360:

CapitalOne 360 is an online-only bank that offers a free checking account with no monthly maintenance fee. They also have a network of over 39,000 fee-free ATMs and offer mobile check deposits and bill pay. Plus, their overdraft fee is lower than many traditional banks.

SoFi Checking:

SoFi is a digital finance company that offers a free checking account with no monthly maintenance fee. In addition to free ATM withdrawals at ALL point ATMs, they offer cashback rewards on purchases, up to $1 million in overdraft protection, and great interest rates (3.75% APY at the time of writing this post). SoFi also provides access to exclusive member events.

Chime Checking:

Chime is a mobile bank that offers a free checking account with no monthly maintenance fee. They offer no-fee ATM withdrawals at over 38,000 ATMs in the MoneyPass network and have no foreign transaction fees. Chime also has a round-up feature that helps you save money on purchases, early direct deposit, and no overdraft fees.

Albert:

Albert is a financial app that offers a free checking account with no monthly maintenance fee. They also provide financial advice and personalized insights to help you make better decisions with your money. Additionally, Albert offers savings tools that can help you save for emergencies, goals, or retirement.

Charles Schwab Investor Checking:

Charles Schwab is an investment brokerage firm that offers a free checking account with no monthly maintenance fee. They also offer unlimited ATM fee rebates worldwide and no foreign transaction fees. Additionally, as an investor checking account, it provides access to investment services such as trading, research, and insights.

DCU (Digital Federal Credit Union):

DCU is a credit union that offers a free checking account with no monthly maintenance fee. They also offer free online banking, mobile banking, and bill pay, as well as access to over 80,000 surcharge-free ATMs. As a credit union, DCU is member-owned, which means they prioritize the needs of their members over profits.

When selecting a checking account, it’s important to consider more than just the monthly maintenance fee. You should also look at other fees, such as ATM fees, foreign transaction fees, and overdraft fees. In addition, you should consider the convenience and accessibility of the account, as well as any additional features or benefits that may be included.

By choosing a free online checking account without a monthly maintenance fee, beginners can get started on the right foot and focus on building their finances without worrying about unnecessary fees. With options like CapitalOne 360, SoFi Checking, Chime Checking, Albert, Charles Schwab Investor Checking, and DCU, there are plenty of excellent options to choose from.