Managing your money is important no matter your career, but it is especially important when your pay may vary from week to week. When you trust a bank with your hard earned money, you want to make sure they don’t tack on any fees or hidden costs! Below are recommendations of 3 no-fee checking accounts. Some even offer cash bonuses for signing up! As with any financial product, make sure you read the fine print and they do not have physical locations to visit if you have questions, just online/phone customer service.
Note: Recommendations based on information current as of September 28, 2022
You may have seen SoFi billboards around town or even been to an event at the splashy new SoFi stadium. What started as a college loan company has morphed into a full service online bank. SoFi is offering a no-fee checking and savings account and up to $300 “cash back” when you link to direct deposit and meet the minimum deposits. They also offer a 2.00% APY (annual percentage yield) which is basically unheard of in the banking world and an option to get paid before payday.
- Ally Banking
I have personally used Ally Bank and their app and customer service is great. They have zero monthly fees and no overdraft fees. They also will never charge you for a low balance. Their APY is low at .25% so I would recommend looking elsewhere if you want to accrue interest. They also have an option to get paid before payday.
Chime is the newest addition to the online banking world. It being a younger entity might give you some pause, but Chime has great reviews. One thing unique about Chime is they do not charge for international transactions, so if you are traveling overseas you can use your Chime card without any fees. Chime also will not charge for monthly fees, overdraft and they have the largest network of in-network ATMs (ATMs you can use without a fee). Again, they also have an option to get paid before payday.
Note: Chime has a credit card as well and their website can make it a bit confusing. I am only talking about their debit card or checking account here.