In today’s society, a checking account is essential to have. That's why it's imperative to look for a bank that provides very low or no annual fee checking accounts.
Below is a list of some of the best no-fee checking accounts and their services.
Ally’s easy to use checking account is one of the highest-rated out on the market. Ally (NYSE: ALLY) offers zero fees to its customers when they use Ally Bank’s Interest Checking Account. The account also includes attractive perks such as modest interest rates and up to $10 in monthly reimbursement for other bank’s ATM fees. On top of it, Ally does not charge any fees for ACH transfers, cashier’s checks, or incoming wires.
Charles Schwab (NYSE: SCHW) is more than just an investment brokerage firm. The company offers a checking account, which does not have any fees tied to it.
Charles Schwab does require that you have a Schwab brokerage account to be able to utilize their checking account. However, doing so can unlock great perks, such as unlimited ATM rebates worldwide. No matter where you are and what banking institution you use, Charles Schwab will not charge you an ATM transaction fee with their checking account.
Capital One’s 360 Checking is unique because it's very flexible when it comes to overdraft fees. Most banking institutions will slap on a fee when you overdraft from your checking account without even asking.
In the case of Capital One (NYSE: COF), the bank will provide different options to help you avoid paying any overdraft fees. These include declining the transaction at the moment, transferring money from a savings account or credit card, or allowing you to pay the overdraft within one business day for free. All options help Capital One stand out from the rest.
It's vital to find a bank that provides a high-interest rate to you when you sign up for a checking account. In the case of Bank5 Connect, customers will receive an offer of 0.76% APY interest. That rate is one of the highest available in the market place, and an attractive feature for new customers who want to save on fees.
Discover (NYSE: DFS) is a great option to choose when it comes to setting up a new checking account. The big hook for doing so is Discover will give you one percent back on every purchase you make with your debit card. This is in addition to their no annual fees with their checking account that the company has already established.
The capability for someone to earn money with every purchase is almost too good of an offer to pass up.
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