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Four Online Free Checking Accounts

Four Online Free Checking Accounts - Most people in my generation have an online bank account while others are attached to their local bank branch. Here are four online banking accounts...

Most people in my generation have an online bank account while others are attached to their local bank branch. I prefer online banking for the ease and accessibility. Honestly, I hate going to the local bank, standing in line, discussing my finances with the teller. I want to be able to access my funds when I want to without much interaction with others. Additionally, I hate the fees that come with traditional banking accounts and because of this, I switched over to online banking accounts.

Best Online Banking Features

The best online checking and savings accounts will offer the following:
– No monthly account fee
– No ATM fees and reimbursement of other bank ATM fees
– Interest on deposited funds
– Excellent mobile banking app and interface
– No ability to overdraft the account

Aspiration

Aspiration (www.aspiration.com) believes in placing customers first and allows members to pay what they think is fair in fees even if it is just zero. Aspiration has various accounts for managing your money (Banking, Investing, Retirement, and Giving). It is supposed to be one of the best checking options, but as Aspiration is an investment firm, there are no bank branches or savings accounts. While electronic transactions won’t trigger an overdraft, a check can, and you will be charged $25 for up to two overdraft fees per day. I avoid bank accounts that allow overdrafts and fees, so the checking account is out for me.
– $10.00 minimum opening deposit
– 1.00% annual percentage yield
– Zero monthly service fees
– Joint checking account
– No ATM fees worldwide

Chime

Chime (www.chime.com) is a fee-free bank with mobile online banking experience. Chime has a spending account (checking account) and optional savings account. The mobile banking app is a beautiful experience that makes you want to use the app and account more often. Chime offers rewards that give cash bank for certain bills or purchases, access to over 30,000 fee-free ATMs, mobile check deposit, but depositing cash can require you to locate a Green Dot cash deposit location. Chime will also use a check on your behalf by using the Checkbook feature. I have used this account on various occasions as a minor business account and much enjoy it.
– Direct Deposit
– Receive your paycheck two days earlier
– No Hidden Fees EVER!
– Daily Balance Notifications
– Instant Transaction Alerts
– Automatic Round up of Transactions
– Automatic Save When I Get Paid

Simple

Simple (www.simple.com) is best known for its fantastic app, and built-in budgeting tools. Simple’s goal was to remake banking and provide tools to assist with financial management. Mobile banking is an essential part of the online banking and offers the traditional banking features and then some. Simple has a Shared Account feature so that partners can efficiently budget, save and talk about money. I have had a Simple account since 2014, and I love it. I have recommended this bank to several other people. Every single time I visit the Simple website, I learn about a new feature. My favorite feature is notification of every payment or transaction that occurs within the account. Some of Simple’s best features include the following:
– Goals
– Safe to Spend
– Emergency Fund Saving
– Budget Envelopes
– Expenses
– Card Management

Moven

Moven (www.moven.com) is the same as Simple and Chime except that it allows you to add and track accounts that are not Moven. It is a startup that partners with other banks to provide the checking and savings account. Moven uses a Spending Meter that monitors your spending for the month and monthly spending spikes, so you know if you are spending your money faster than usual or more than general. I have used this one a few times, and it is okay. I don’t prefer it, and I haven’t found particular use for it.
– Few Fees
– Free access to thousands of ATMs
– Inconvenient to deposit Cash
– Not ideal for cashing checks

Tell me. Do you guys use any of these online banks? Do you have any other online bank accounts that we should know about? Leave a message in the comments. For more information about finances and the post written about them, please see Guide to Money Management

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Four Online Free Checking Accounts - Most people in my generation have an online bank account while others are attached to their local bank branch. Here are four online banking accounts...
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