Best Free Checking Accounts Of 2018 – Info Money Manage

Put cash in your pocket when you switch to a better checking account. Get up to a $300 cash bonus for opening a new account or choose an online account that pays interest on your balance. Here are some recommended checking accounts to help you narrow the field.

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How to find the best checking accounts online

When it comes to getting a good deal on checking, it seems as though your options are few and far between. Recent news has been heavy on rising account fees and declining service.

Some banks are standouts, however. The following checking accounts offer different perks — from interest on any-sized balances to free ATMs to cash rewards just for signing up. Choose the account that will work best for you:

 

FNBO 

FNBOThe FNBO Direct Checking Account works as an alternative to a traditional checking account, if you are interested in making it easy to set up automatic and recurring payments. There is no minimum balance, and no monthly fees with this account. One of the bonuses offered by the FNBO Direct Checking account is that you can earn an APY of 0.65%, which is very competitive for an online checking account.

While you don’t have to worry about minimums, there are some bonuses if you maintain a higher balance. You get four free foreign ATM fees every statement period when you have a balance $25,000. Additionally, you get one overdraft forgiveness every 12 months. On top of that, you can stop payments for free with this account, which is useful since the selling point is bill pay.

Finally, FNBO Direct Checking enrolls you, for free, in My Deals, which provides exclusive money saving offers at a variety of popular merchants.

Learn more or open a FNBO Direct interest checking account

 

USAA

USAA is a financial services company available to members of the Armed Forces (past or present) and their family members. USAA is among the most respected of financial institutions both for customer service and online services. You’ll earn interest on balances in excess of $1,000. You won’t have to pay a monthly fee if you get the Classic Checking option. You can use your smartphone to deposit checks, and you will be reimbursed for ATM fees that you incur. It’s also a nice bonus that you receive alerts if there is suspicious activity on your account.

Learn more or open a USAA interest checking account

 

Ally

Ally is known for its good customer service, and for its ease of use. It’s easy to open an online checking account and start banking via the Internet.

Ally’s interest checking comes with no monthly fees, and it doesn’t require a minimum balance. It’s true that the interest you earn is relatively low, at 0.10 percent APY, but that is competitive with other interest checking accounts. Plus, if your balance exceeds $15,000, your interest rate increases.

You won’t have to pay ATM fees, no matter where you access your Ally account, and Ally will reimburse you for fees charged by other banks for using their ATMs. This reimbursement happens automatically with each statement, so there is nothing you need to do to claim your ATM fee refund.

Ally does charge a fee for overdrafts, but it is relatively low at $9. (Consider that many other banks charge between $25 and $45 for overdrafts and the national average as of this writing is $34.) The foreign transaction fee is 1%, which is lower than the common 3 percent charged by many traditional banks.

Learn more or open an Ally interest checking account

 

Bank of Internet

The simply-named Bank of Internet offers its own rewards checking account. Many of the other online checking accounts don’t offer rewards. This account requires that you activate offers places you like to shop, and you receive discounts, as well as getting cash back deposited automatically into your account. Bank of Internet also has a tiered interest system, based on whether or not you use direct deposit to add to the account, use bill pay, and how often you use your rewards debit card. If you complete all of the actions, you can receive an APY of up to 1.25%. This beats many online savings accounts and short-term high-yield CDs.

You don’t have to worry about monthly fees or a minimum balance with this account. As with the Capital One 360 checking account, Bank of Internet handles overdrafts with an interest charge on the balance, rather than charging a flat fee. Returned deposited items cost $10, which is relatively low, but the stop payment fee is steep, at $35. Bank of Internet is one of those that waives ATM fees and reimburses for third-party fees.

Learn more or open a Bank of Internet interest checking account

Capital One 360

Capital OneWhen ING Direct became Capital One 360 not too long ago, many people were concerned about the fallout. So far, though, Capital One 360 hasn’t done a lot of changing. The interest-bearing checking account still requires no monthly fee and no minimum balance. The interest rate isn’t anything to write home about but most of us should be happy with any checking account that pays interest.

Capital One 360 provides you the option to deposit checks remotely with the help of the mobile app and CheckMate, and you can use billpay to manage your finances. Additionally, there are 38,000 Allpoint ATMs that won’t result in surcharges. You won’t receive a fee reimbursement for non-qualified ATMs, though.

One of the nice touches, though, is that Capital One is known for not charging foreign transaction fees, so if you travel frequently and want to use your debit card, this can be a bonus. Capital One also doesn’t charge a flat overdraft fee; instead, you are charged a small interest rate on the balance until it’s paid off. The bounced check fee, if applicable, is a low $9.

Consider your needs, and research your options, and then choose the online checking account that works best for your situation.

Article Prepared by Ollala Corp

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