Close to Free Checking Accounts

Check Writing

Image by CarbonNYC via Flickr

Since the scandal over debit card fees, my attention has been set on finding a checking account with the fewest and lowest fees.  Here, is a rundown of some of the best offers I have found.


Ally Interest Checking Account: $0 monthly fees

  • No minimum balance
  • $9 overdraft fee
  • No ATM fees at any ATMs nationwide (they will reimburse you for ATM fees that other banks charge you at the end of each statement cycle)
  • Variable rate account where balances $15,000 (quoted at .8% as of today) or more get an even higher rate
  • Unlimited check writing and free Ally standard checks
  • Note: that this is an online bank and has no branches

Bank of America e-banking: 0 monthly fee (for when you do banking online instead of using a teller)

  1. Must do all withdrawals and deposits through the ATM
  2. Must sign up for paperless statements (statements will be emailed)
  3. Otherwise $8.95 monthly fee ($35 overdraft charge)

Citibank Basic Checking: $ 0 monthly fees

  1. $8 monthly fee UNLESS you do one of the following each month:
  • Direct Deposits
  • Any Debit Card Purchase
  • Bill Payments2
  • Auto Deductions
  • ACH Payments
  • Checks Paid
  • Cash Withdrawals at any ATM

Wells Fargo Value Checking: $5 monthly fee ($100 to open)

  1. Monthly service fee is waived when:

Chase Total Checking: $12 monthly fee ($25 to open)

  1. Monthly service fee is waved when:
  • Have direct deposits totaling $500 or more
  • Minimum balance of $1500
  • $5000 average daily balance with linked deposits or investments
  • Chase is promoting $100 to $200 cash back, when you open with $100 and keep the account open for 6 months, however you have to calculate the monthly fee into that if you have not met the requirements above

Honorable Mention: ING Direct (online bank)

If you know of any other banks that I should add to the list or have suggestions for other banks I should look into, please fee free to contact me or make a comment below.



  1. Pingback: Bank of America to Charge Debit Card Use Fee | Reuters « Public Investigation

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