Where can you set up a checking account for free?


Quick Answer

Checking accounts can be set up for free at credit unions, small banks and online banks, reports About.com. Checking accounts that are free of charge can also be set up at BankMobile, Moven, Schwab Bank, First Commonwealth Credit Union and Simple, notes Nerdwallet.com.

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Full Answer

Ally Bank and Capital One 360 are online banks, which are considered non-traditional, yet they offer many free features and incentives, explains About.com. Interest checking at Ally Bank is free of monthly fees and requires no minimum balance, as of April 2015. Ally Bank also sends clients free checks that can be reordered in a basic design at no fee.

The Capital One 360 interest checking account is a free account that has no monthly fee or minimum deposit. Checks, online bill pay and person-to-person payments are also free of charge. Nonetheless, the account may still incur fees for improper banking behavior.

Simple attempts to eliminate consumers' fees, which includes monthly fees, overdraft fees and bounced check fees, according to the bank?s website. All money is upheld by Bancorp Bank, Member FDIC, and Simple supplies mobile apps, customer support and Visa cards.

To use a credit union, individuals must be a member, states About.com. Those who are not already a member may be able to join based on factors such as work location or residence.

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