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Since the 1990s, the cost to use an automated teller machine (ATM) has more than doubled, taking an increasingly large chunk out of consumers’ bank accounts with each cash withdrawal. From an average fee of less than $2.00 per transaction in 1998, average ATM fees climbed to $4.66 by 2022, according to a Bankrate study.
Fortunately, although ATM fees themselves are rising, the opportunity for consumers to avoid them is also increasing. That’s because many banks are aiming to win customers over by offering free ATM transactions and even ATM fee refunds, and the list of institutions offering this perk is growing.
To help you avoid this unnecessary fee, we’ve rounded up the best checking accounts with no ATM fees. Based on our research of dozens of banks whose checking accounts are available to consumers nationwide, we’ve whittled the results down to seven winners by analyzing other potential fees, minimum balance requirements, interest rates, and other account features.
Best Checking Accounts With No ATM Fees in 2024
- Best Overall: Axos Bank
- Best for International ATMs: Needham Bank
- Best for Debit Card Users: LendingClub
- Best From a Credit Union: Alliant Credit Union
- Best for Low Fees From a Big Bank: Ally Bank
- Best for Overdrafts: Discover® Bank
Best Overall : Axos Bank
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Axos Bank
- Minimum Balance: No
- Out-of-Network Refunds: Unlimited
- Monthly Fee: No
Axos Bank offers a wealth of benefits that make it our pick as the best overall. With Axos Bank’s Rewards Checking account, you’ll pay zero ATM fees anywhere in the U.S. while also avoiding all the other typical bank fees, even for overdrafts. On top of that, overachievers can turn this into a high-interest checking account as well.
No minimum balance requirement or monthly maintenance fee
No overdraft fees
Unlimited domestic ATM fee reimbursement
Option to earn up to 3.30% APY on your balance
No interest paid unless certain requirements are met
No Zelle option for person-to-person payments
Paper checks must be purchased
Based in San Diego, Axos Bank was founded in 2000 as a digital bank and receives the top bank safety rating of Superior (5 stars) from Bauer Financial. Its Rewards Checking account combines a lack of fees with unlimited ATM fee refunds and the ability to earn an attractive interest rate, creating a trifecta that earns it the top spot in our rankings.
While many banks have stopped charging their own fees for ATM transactions, Axos is among the institutions that will refund domestic ATM fees you incur from other banks or ATM operators, as well. Not only that, but Axos places no monthly limit on how much can be refunded, offering you unlimited free ATM transactions throughout the U.S.
Axos’ Rewards Checking is remarkably fee-free in other ways, too. Aside from requiring an initial $50 deposit to open the account, there is no ongoing balance requirement, no monthly maintenance fee, and not even a fee if you accidentally overdraw your account. One thing you will have to pay for, though, is paper checks if you want them.
What makes this account an even bigger standout is the ability to earn an attractive 3.30% APY on your balance. You can earn 0.40% APY if you receive direct deposits totaling $1,500 or more and 0.30% if you use your Axos Visa Debit Card for a total of 10 transactions per month (min $3 per transaction) or sign up for PFM. Earn 1.00% if you maintain an average daily balance of $2,500 per month in an SDT account. You can also earn 1.00% if you maintain an average daily balance of $2,500 per month in an MP account as well as 0.60% if you use your Rewards Checking account to make your full monthly Axos bank consumer loan payment.
Best for International ATMs : Needham Bank
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Needham Bank
- Minimum Balance: No
- Out-of-Network Refunds: Unlimited
- Monthly Fee: No
If travel outside the U.S. is a regular occurrence for you, ATM refunds that cover the globe instead of just the country become an important money saver. Fortunately, Needham Bank has you covered and offers several other attractive account features as well, making it the best for international ATMs.
Unlimited reimbursement of ATM fees incurred anywhere in the world
No minimum balance requirement or monthly maintenance fee
Free check supply with unlimited refills
Low interest rate
Overdraft fees
Needham Bank may not be a household name, but it’s a winning option for those who find themselves using international ATMs. With regular ATM fees compounded by foreign transaction fees when traveling outside the U.S., international ATM fees can become exorbitant, making Needham an excellent value for the frequent traveler.
Needham Bank can trace its Massachusetts roots back to 1892, while currently operating 15 branches in the state and holding a Superior rating (5 stars) from Bauer Financial. Its services are available to adults throughout the U.S. who open an account online.
Needham’s Personal Checking account places no limits on the geography of ATM fees it will refund, nor a limit on the number or dollar amount incurred per month. It also requires no minimum balance and charges no monthly maintenance fee, though you will incur a non-sufficient funds (NSF) fee of $25 if you overdraw your balance.
Needham does pay only a nominal interest rate of 0.05% APY. It’s not much, but many checking accounts pay no interest at all.
Best for Debit Card Users : LendingClub
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LendingClub
- Minimum Balance: No
- Out-of-Network Refunds: Unlimited
- Monthly Fee: No
In February 2021, Radius Bank finalized a merger with LendingClub, which holds an Excellent rating (5 stars) with Bauer Financial. Their Rewards Checking scores well as a low-fee account offering unlimited ATM refunds. But what really solidifies it as the best ATM fee-free option for debit card users is its payment of cashback rewards on debit card purchases.
Pays 1% cashback on unlimited debit card purchases
No minimum balance requirement or monthly maintenance fee
Unlimited ATM fee reimbursements
Free first set of checks
Interest rates are fairly low, and 0% at low balances
No Zelle option for person-to-person payments
$25 required to open the account
Cashback rewards on card purchases have long been the turf of credit cards. But a few debit cards are nosing into that territory, like the one offered with LendingClub Rewards Checking, paying 1% on all purchases. There is no limit on the cash back earned per month.
LendingClub makes the account even more attractive with no minimum balance requirement, no monthly maintenance fee, and a no-cost first set of paper checks, though, and with a 0.10% to 0.15% APY interest rate that doesn’t kick in until your balance reaches $2,500 or $100,000 respectively, interest earnings will leave little impact on your bottom line.
LendingClub unlimited ATM refunds apply both domestically and internationally. However, foreign ATM transactions may still incur a fee with this account, as the fine print indicates that “international exchange fees” are excluded from the refund policy. The website states that LendingClub "makes its best effort to identify those ATM fees eligible for rebate," and you can contact customer support if you believe an eligible fee was not refunded.
Best From a Credit Union : Alliant Credit Union
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Alliant Credit Union
- Minimum Balance: No
- Out-of-Network Refunds: $20 per month
- Monthly Fee: No
If you like the idea of banking with a financial institution where the customers are member-owners, and the business focus is on high-quality service to those members, consider a credit union. Alliant is one of the easiest to join and its checking account is a top contender.
No minimum balance requirement or monthly maintenance fee
ATM fees reimbursed up to $20 per month
Interest rate applies to all balances
Free first set of checks
Could incur ATM fees if refund cap is exceeded in a particular month
No Zelle option for person-to-person payments
Overdraft fees unless you can meet certain requirements
Chicago-based Alliant is a credit union, not a bank. But that should make little difference to you if the features of this account are appealing. While some credit unions have strict rules about who can join them or what fee is involved, Alliant has one of the easiest membership paths in the country. Anyone can join simply by agreeing to a membership with Alliant’s nonprofit partner, Foster Care to Success. Alliant will even pay the $5 member dues on your behalf.
Alliant’s High-Rate Checking Account is a good choice for those whose balance frequently wavers and dips low, as its 0.25% APY interest rate applies to all balances, no matter the amount.
While earnings from a high-rate account can fluctuate with rate changes, it’s worth noting that Alliant's lower rates are still roughly three and a half times higher than the average paid by checking accounts nationwide. And though not unlimited, Alliant’s $20 per month of ATM fee rebates—along with its more than 80,000 in-network ATMs nationwide—will be sufficient for many consumers.
Best for Low Fees From a Big Bank : Ally Bank
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Ally Bank
- Minimum Balance: No
- Out-of-Network Refunds: $10 per month
- Monthly Fee: No
Although operating only online, Ally is the nation’s 21st-largest bank by assets, offering a well-honed customer experience—with ATM fee refunds, a little bit of interest, and almost no checking account fees.
No minimum balance requirement or monthly fees
Ability to use Zelle for fast and easy person-to-person payments
Free check supply with unlimited refills
ATM fee refunds are capped at $10 per month.
Interest rate is fairly low.
If you prefer your checking account to have Zelle capabilities while still avoiding most ATM and banking fees, Ally’s Interest Checking account fits the bill. Zelle allows you to send money to other people instantaneously from your bank account for free, and while hundreds of banks participate in the network, none of the checking accounts featured above offer it.
Ally actually began as GMAC, the financing division of General Motors, in 1919. Over its long history, it became GMAC Bank and then in 2010 became Ally Financial. It is now independent of GM. Ally holds a Superior rating (5 stars) from Bauer Financial. With a focus on competitive rates and low fees, Ally’s Interest Checking account requires no minimum balance and charges no monthly maintenance fee.
Ally’s ATM cards belong to the Allpoint network, which operates over 55,000 ATMs nationwide and which offers free transactions to Ally customers. But even if you can’t find an Allpoint ATM, Ally will reimburse the ATM fees you incur up to $10 per month.
Ally’s Interest Checking account currently pays 0.10% APY on balances up to $15,000 and 0.25% beyond that level.
Best for Overdrafts : Discover® Bank
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Discover
- Minimum Balance: No
- Out-of-Network Refunds: No
- Monthly Fee: No
Although Discover’s free ATM options aren’t as numerous as the other top choices here, its aggressive “no fee” stance means there is precious little you can be charged for, even when you overdraw your account. Add cash back rewards to the mix and Discover® is an attractive checking option and the best for overdrafts.
No fees at all, including no NSF fees
1% cashback on debit card purchases
Ability to use Zelle for fast and easy person-to-person payments
Free check supply with unlimited refills
No ATM fee refunds—only free transactions at in-network ATMs
No interest paid
Debit card cash back is capped.
In addition to its well-known credit card, Discover® offers online-only banking products to consumers nationwide. Among them is the Discover® Checking Account, which features debit card rewards in place of interest while also eliminating virtually every common banking fee. That includes NSF charges, so if you accidentally overdraw your account to a negative balance, you won’t be hit with an overdraft fee (which typically runs $25 to $40 at other banks).
You’ll also save money from no monthly maintenance fees and no minimum balance that can trigger a fee. Paper check supplies are also free with Discover®, so you won’t incur any costs there either.
That said, it’s important to note this account does not provide refunds for out-of-network ATM charges. With more than 60,000 eligible ATMs located throughout the country (it uses both the Allpoint and MoneyPass networks), finding a free ATM will be easy in many cases. But when it’s not, you’ll be subject to the fee charged by the out-of-network ATM you’ve chosen.
Discover® began as a company in 1985 and carries an Excellent rating (5 stars) from Bauer Financial. Its payment of 1% cash back on all of your debit card purchases up to $3,000 per month (i.e., $30 maximum cash back monthly) helps sweeten this deal, especially when combined with the account’s “no fee” focus and the ability to pay people with Zelle (which alone could save you some trips to the ATM).
| Compare the Best Checking Accounts With No ATM Fees | ||||
|---|---|---|---|---|
| Company | Minimum Balance | Out-of-Network Refunds | Monthly Fee | APY |
| Axos Bank Best Overall | No | Unlimited | No | Up to 3.30% |
| Needham Bank Best for International ATMs | No | Unlimited | No | 0.05% |
| LendingClub Best for Debit Card Users | No | Unlimited | No | 0.10% once you reach a balance of $2,500 & 0.15% above $100,000 |
| Alliant Credit Union Best From a Credit Union | No | $20 per month | No | 0.25% |
| Ally Bank Best for Low Fees From a Big Bank | No | $10 per month | No | 0.10% on balances below $15,000 & 0.25% on balances above |
| Discover® Bank Best for Overdrafts | No | No | No | No |
Final Verdict
Axos Bank is the best option overall because it has more combined benefits than its competitors. With a checking account, you pay $0 in ATM fees throughout the U.S. You also avoid other bank fees such as overdrafts. Additionally, Axos offers you a unique opportunity to earn high interest on your account.
In the News
In the News: Checking accounts with no ATM fees are good to have, but they tend to offer low returns when it comes to growing your money. However, the annual percentage yields (APYs) that banks are paying their checking account customers today far exceed the rates of years past because the Federal Reserve has hiked the federal funds rate many times, although that time could be coming to an end.
At the Fed's most recent meeting in March, the committee decided to hold rates steady—the fifth meeting in a row it has done so—but said again that it expects to cut rates later this year. The Fed's dot plot shows that Fed members believe there will be three rate cuts later this year. Interest rates closely follow the fed funds rate. Once it appears the Fed is ready to make a rate cut, interest rates are expected to fall.
Pros and Cons of Checking Accounts With No ATM Fees
Money saved
Potential for other fee waivers or exclusions
Additional perks
Certain ATM fees might still apply
You may have to pay other bank fees
Accounts often earn little or no interest
Pros Explained
- Money saved: When you bank with a financial institution that offers checking accounts with no ATM fees (or ATM fee reimbursement), you have the freedom to use your hard-earned cash in more productive ways.
- Potential for other fee waivers or exclusions: Many banks and credit unions that offer checking accounts with no ATM fees exclude (or waive) other fees as well, like monthly maintenance fees, overdraft fees, etc.
- Additional perks: As you shop around for the best banks that offer checking accounts with no ATM fees, you may encounter more valuable perks. Some financial institutions offer free checks, cashback on debit card purchases, no minimum balance requirements, and other benefits.
Cons Explained
- Certain ATM fees might still apply: Some financial institutions may cap the amount of ATM refunds you’re eligible to receive each month. Furthermore, you might have to use a specific ATM network to qualify for ATM fee waivers or reimbursement.
- You may have to pay other bank fees: Other bank fees like monthly maintenance fees, overdraft fees, and more could apply to your checking account even if your bank or credit union doesn’t charge ATM fees.
- Accounts often earn little or no interest: Financial institutions typically offer little or no interest on checking accounts.
Alternatives to Checking Accounts With No ATM Fees
A checking account with no ATM fees is certainly appealing. Nonetheless, it’s not the perfect choice for everyone. Depending on your specific banking needs, here are some alternatives to consider.
- High-interest checking accounts: Depending on how you use your account, finding a checking account with higher interest rates may be more important than opening a checking account with no ATM fees. If you don’t make frequent cash withdrawals from ATMs, the potential to earn more interest on the money you keep in your checking account might provide more value.
- Money market accounts: A money market account (MMA) is a bit like a savings account that features debit card and check-writing capabilities. In many cases, MMAs offer a higher interest rate than a standard checking account.
- Savings accounts: If you don’t need debit card access or the ability to write checks, a savings account could be a helpful financial account to store your cash. Savings accounts often boast higher APYs than standard checking accounts—especially if you open a high-yield savings account.
- Reloadable prepaid cards: If you don’t want to open a traditional deposit account, you could consider opening a reloadable prepaid card. Prepaid debit cards can be easy to open since there’s no credit check required, and you might even be able to receive direct deposit to the account. But there are also downsides, such as potentially high fees, no credit-building capabilities, no rewards, etc.
- Check-cashing services: Some consumers struggle to open a traditional bank account (due to ChexSystems issues or other challenges). In such cases, you may consider using check-cashing services to access your paychecks or other types of check payments. But keep in mind, the fees that these services typically charge for every check you cash can add up over time.
Frequently Asked Questions
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How safe are online banks?
Consumers often wonder if online bank are a riskier option than going with brick-and-mortar banks. In short, the answer is no if you ensure you’re choosing an online bank that is FDIC-insured (just look for those words or the FDIC logo at the bottom of a bank’s website, or the NCUA logo for credit unions). That’s because the FDIC’s protection against bank failures is exactly the same whether the bank is physical, online-only, or a hybrid. All deposits up to $250,000 per individual and per FDIC institution are federally protected.
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Which banks do not charge ATM fees?
Axos Bank, Needham Bank and LendingClub all offer unlimited refunds on ATM transaction fees.
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How much do banks typically charge for ATM fees?
What you pay to use an out-of-network ATM can involve two fees bundled into one. Both the card-issuing bank and the ATM owner can charge their own fee, which combine into what looks like a single fee to consumers. Typically, this fee ranges from $2.50 on the low end to $5 on the high end. When only the ATM owner is charging a fee, while your bank is waiving their fee, an ATM fee of $1 or $2 is possible.
Note that even if your checking account provides ATM fee refunds, this is something that happens after the fact, and often at the end of your statement cycle. You will still incur the fees at the time of the transaction. But then, either shortly thereafter or when your statement closes, your bank will typically issue a refund for all of your eligible ATM fees at one time.
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How do I get around the daily ATM limit?
There are several ways to avoid the daily ATM limit. You can ask for your limit to be increased, ask for cash back from an in-store purchase, use your debit or credit card to get a cash advance, or go to your local bank branch and make a withdrawal.
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Do Checking Accounts Have ATM Fees?
Many financial institutions charge fees if you want to use an automated teller machine (ATM) to withdraw cash from your checking account. If you’re someone who tends to need frequent access to cash via ATMs, such fees might grow into a sizable amount in time.
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How Do I Avoid ATM Fees?
Certain banks and credit unions—especially online banks—offer checking accounts with no ATM fees (including no fees for ATM usage or ATM reimbursements). Some of our top-rated accounts are provided by Axos Bank, Needham Bank, LendingClub, and Alliant Credit Union.
In addition to avoiding fees, it’s also wise to consider other factors when you choose a bank. The interest rates (APYs) a financial institution offers, branch availability (for people who prefer in-person banking), online or app-based banking features, and other details could all be important details as you search for the best fit for your banking needs.
Methodology
Our research methodology began with a focus on banks and credit unions that are available to customers nationwide, and with a secondary priority on those offering at least one “free checking” product. The original pool of banks fitting these criteria was approximately 65.
From there, a further review was done to determine which accounts offered truly free ATM use, versus those that waived their own ATM fees but did nothing to address surcharges from ATM owners. The one exception was not eliminating Discover Bank, due to its wide-ranging ATM network and the inclusion of a rare cash rewards debit card.
Each of the remaining accounts was then analyzed for minimum balance requirements, monthly maintenance fees, overdraft fees, any interest rate or rewards paid, Zelle capability, and how paper checks are provided. Combined with the details of their ATM fee management, the accounts were finally sorted into the top seven that appear here according to different categories.
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