However, brick-and-mortar institutions are more likely to charge monthly maintenance fees or require certain conditions to waive them. Free checking accounts are available at both online banks and traditional brick-and-mortar institutions, but the experience can differ. Make sure its website and mobile app are easy to use and provide the services you want.
CNBC Select has chosen the best savings accounts with no monthly maintenance fees, excessive transaction fees, overdraft charges or insufficient/non-sufficient funds fees. The SpotMe on Chime Card Limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s or its banking partners’ discretion. You receive a free debit card with access to over 15,000 ATMs and 4,700+ branches, plus early direct deposit and mobile banking features. Citi offers multiple checking options with no minimum opening deposit required, but monthly service fees range from $5-$15 depending on the account type. The $15 monthly fee on their most popular account can be easily waived with just $500 in direct deposits, a $500 minimum daily balance, or by linking accounts with a combined $5,000 balance. Monthly fees range from $0-$25 depending on the account type, but most can be waived with direct deposits or minimum balance requirements.
Our fee policy is subject to change at any time. Current may suit customers who also want credit-building tools, while Chime and Varo provide simple mobile banking without monthly maintenance fees. SoFi offers the strongest mix of checking, savings, interest, and bonus features. We reviewed accounts based on the costs and features that matter most to checking account customers. A bank may require a deposit later, close an inactive account, or limit certain features until money enters the account.
SoFi Checking Account
- Fortunately, there are many high-yield savings accounts (HYSAs) with no minimum deposit or balance requirements that pay high interest rates without monthly service fees.
- Picking the right no-fee checking account isn't just about avoiding monthly fees.
- The content was clear and easy to understand I found exactly what I was looking for The page layout and design worked well
- The best no-fee checking accounts offer features such as low or no minimum balance requirements, convenient ATM access, overdraft protection and early paycheck access.
- The best high-yield savings account rates vary from bank to bank and over time.
FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Fortunately, there are many high-yield savings accounts (HYSAs) with no minimum deposit or balance requirements that pay high interest rates without monthly service fees. Note that the rates and fee structures for savings accounts are not crusado guaranteed forever; they are subject to change without notice and they often fluctuate per the Fed rate. MySavingsDirect's MySavings Account has no minimum opening deposit or balance requirement, making it a smart option if you don't have a lot to deposit. No minimum balance requirement and no monthly service charge. Annual Percentage Yield is variable and subject to change at any time.
Customer Service Availability
No monthly maintenance fees, overdraft fees, or minimum balance to earn interest While the interest-bearing NBKC Everything Account has a very competitive APY, it doesn't have a minimum opening deposit or balance requirement. Every monthly fee you pay is money that could be earning interest or funding your next business venture. You don't sacrifice security or features for these savings. Money orders and cashier's checks often cost $5-10 at traditional banks.
The account charges no monthly fees and even waives fees for out-of-network ATM withdrawals. The 360 Checking Account provides US residents with a bank account with no monthly fees, no international transaction fees, and no opening or minimum deposit. Chime® is an excellent mobile finance app with no monthly fees¹! No monthly fees and no minimum balance to open mean it's accessible to everyone, while unlimited transfers and withdrawals let you manage your savings your way. Barclays Tiered Savings pays a competitive rate with no minimum balance to earn it, and no monthly fees. Many top online banks, such as Capital One 360, and SoFi, explicitly offer a "no deposit bank account." This means the required minimum opening deposit is exactly $0.
- To see how these five stack up against every account I track, compare the best high-yield savings accounts of 2026.
- New users get a 30-day free trial before the first monthly fee applies.
- They offer features traditional banks can't match—like early direct deposit and automatic savings programs.
- American Express Rewards Checking has no minimum opening deposit, monthly account fee, or minimum balance requirement.
- To choose the best high-yield savings accounts with no minimum balance requirements, we analyzed dozens of accounts that offer competitive APYs without requiring a minimum opening deposit or ongoing balance.
- The account can be opened entirely online from either desktop or mobile app, making it a convenient and easy way to start banking at low cost.
- Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened.
ATM Access and Fee Policies
She helps readers track down the best high-yield savings accounts, decide if they're in between banks, and take their first steps into investing. Savings accounts without minimum balance requirements can help you save more and stress less, and they're not hard to find anymore (plus, they're some of the easiest bank accounts to open online). The best high-yield savings account rates vary from bank to bank and over time. These are a lot easier to find than they used to be, especially with online banks, fintechs, and credit unions. To maximize your return on investment (ROI), choose a high-yield savings account with no minimum balance.
While cash accounts aren't quite the same as a high-yield savings account, they function similarly. It's worth noting that UFB changes the names and details of its savings accounts more than other banks, but it always offers some version of a high-yield savings account that's always competitive. But the reason we chose it for this list is that, in addition to regularly offering a good rate even when the market is in flux, this account is designed for quick, easy transfers to and from other accounts. Even though this account doesn't have a minimum balance requirement to open and earn interest, it does require monthly deposits as one option to unlock the highest rate. SoFi Checking and Savings is a joint account that earns interest on your checking and savings balances, and it stood out in our research because you can earn interest on all your money. Unlike some of the other high-yield savings accounts we recommend, the Synchrony Bank High Yield Savings account doesn't have any minimums to open or earn the highest interest rate.
Monthly fee
The content was clear and easy to understand I found exactly what I was looking for The page layout and design worked well SoFi is a personal finance company and online bank with products that include checking and savings accounts. Many online banks have partnerships that let you deposit cash at ATMs or retail stores nationwide.
To ensure that they have enough cash in their possession to issue loans, traditional banks set limits on how much money you are allowed to take out of your account. American fintech apps are well known for requiring no minimum deposits and waiving monthly maintenance fees altogether. APYs are subject to change at any time without notice. To see how these five stack up against every account I track, compare the best high-yield savings accounts of 2026.