Golden Checking (Age 55+) 0.20% APY on all balances so you can spend and earn within one account. Free personal checks. No maintenance fees. No minimum balance requirements. Plus, up to $8.00 domestic ATM fee reimbursements per month. Open an Account. Direct Deposit is a free, fast, simple way to deposit money into your account(s) electronically. You can use it to deposit your pay, Social Security, tax refunds, stock dividends, directly into any account. Direct Deposit saves you the time and effort of making a trip to the bank and your money is available to you the day the check is received.

Most brick and mortar banks today charge hefty fees and require a minimum deposit in order to qualify for a checking account. The great thing about online banks though, is that they are much easier to manage and as a result, many of them are completely fee-free. Free online checking account with no deposit is definitely something you should consider if you are low on cash or if you’re just tired of paying so much in bank fees.

Altra Federal Credit Union's free checking account includes no minimum balance and no monthly fee, free debit card, online banking and bill pay, mobile banking, access to.
Opening a BBVA checking account can be done on your computer. Once you select the checking account you want, simply click the Open Now button to get started. The online form only takes a few minutes. Checking accounts are subject to approval, which may included credit approval. $25 minimum opening deposit required.

We made a list of the best online banks with no fees and no minimum deposit. Not only do these banks offer totally free checking but they also have other checking account features that may come as a surprise! Check it out:

Instant Approval Checking Account No Deposit

Types of free online checking accounts

Interest-Paying Accounts

Some online banks have checking accounts that pay you interest on your balance. Even if you are one of those people that have a highly fluctuating balance, it’s still nice to get even a little interest on your money since it’s completely free.

Unfortunately, the interest rates on these online checking accounts tend to be very small, so even you have a decent and steady balance in your account, don’t quit your job yet.

The following two banks are fee-free, require no minimum deposit and pay interest on your checking account balance:

Capital One 360 Checking

Capital One 360 checking account is great because it charges you no fees, has no minimum balance requirements and will even pay you simple interest on your balance. You can also get an ATM card to use with it and Capital One has over 39,000 ATM’s in the USA that you will be able to use for free. In addition, you will also get online banking privileges, mobile check deposit and mobile banking. For balances under $50,000 the APR is 0.20%.

Ally Bank Interest Checking

Ally Bank will also pay you interest on your online checking account. It has a slightly lower 0.10% interest than Capital One’s 0.20% APR. The kicker is if you have more than $25,000 in your bank account the APR jumps top 0.60%. With this Ally Bank account you get free checks, online bill paying privileges and a MasterCard debit card.

Related Article: Banks with No Fees

Online checking accounts that have unique features

Some online banks offer a few unique features on their free checking accounts that other banks do not offer. These include things like cashback on purchases, rewards points, linked investment accounts and more. Here they are:

Discover Bank Cashback Checking

Instant Checking Account No Deposit Required

Here is an online checking account with a twist. With it you get 10 cents back for each check you write, bill you pay online and each purchase you make with your debit card. It will pay you up to $10 per month for these things. Along with its special features you also get a free debit card that cost you nothing to use at over 60,000 ATM’s and a free checking account.

Charles Schwab Bank High Yield Investor Checking

Here is a high yield investor checking account from the popular Charles Schwab Bank that also includes a brokerage investment account along with it. There are no fees or minimum account deposit requirements with it either. You will also receive 0.15% on your balance and the ability to transfer money effortlessly between your checking and investment accounts. This account also includes a debit card, mobile banking, online banking and online bill paying privileges.

Instant Online Checking Account No Deposit

Bank of Internet USA Essential Checking

Here is an online bank that not only offers a checking account with no fees, no minimum balance and pays you interest but it also has a rewards program attached to its use. You will get cashback deposited directly into your account when you shop at specified merchants. Its online banking site also has a host of special tools to help you manage your account.

Open A Bank Account Online For Free

Basic free checking account with no minimum balance

The following banks allow you to open an online checking account with no fees and no minimum balance but beyond that they only offer very basic features:

Simple Bank Simple Checking

This account from Simple Bank is aptly named because it’s just that – a very simple and basic banking account. All you get with it is no fees, no minimum daily balance requirement and a debit card you can use at over 40,000 ATM’s free of charge. There is not even simple interest paid on your account balance. Its online banking site does include some useful budgeting tools such as its Safe-to-Spend tool. This feature factors in upcoming pre-planned deductions, payments and spending into your account balance.

First National Bank First National Checking

This online checking account from First National bank offers you an account with no fees attached and it does not require a minimum balance. There are no ATM fees with it either, if you use it at an approved ATM. Checks are free as well and you get one forgiveness per year on an overdraft or returned check. You also won’t be charged for cashier’s checks or paper statements like you will be at most banks. Once you are a customer with this bank, you are eligible for discount rates on auto loans, personal loans, Certificates of Deposit and IRA accounts. There are also eligible savings on safety deposit boxes and mortgage closing fees.

The Huntington National Bank Asterisk-Free Checking

Asterisk-Free Checking from this bank is void of fees, requires zero minimum balance and does not charge ATM fees at specified machines. There is a sizeable $3 fee for using a non-approved ATM. They have only 1800 approved ATMs so make sure there is one near you before you sign up to bank with them. With Huntington National bank you can also transfer money easily between any types of account you have with them. This bank will also automatically draw funds from another account you can link to save you money on overdrafts.

Big Banks

Can I Open A Checking Account With No Deposit

Larger land based banks do usually offer totally free checking but there is a laundry list of stipulations with them. For example: with Wells Fargo, if you don’t maintain a minimum balance of $1,500 in your checking account you will be charged a $10 fee each month. Other banks such as Chase and Bank of America also have $1,500 minimum balance requirements that have even higher $12 fees when you don’t meet this requirement each month.

So what’s the bottom line here? It’s a fact that if you pick the right online checking account which fits your banking needs you can save over $100 per year and get other nice benefits too.

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