The Good Ones: Banks Who Still Offer Free Checking

With the sudden barrage of debit card fees and the plummeting interest rates, consumers are wondering if all banks are going downhill. Luckily for us, there are still some banks who are sticking to their free checking promotions, and who continue to offer great rates. For those of you who want to transfer banks, but are unsure about joining a credit union, here are some banks that may be worth your while:

1. Ally Bank - This bank has been around for a long time, with over 90 years of experience. It has been dubbed as one of the best banks in 2011 by Money Magazine and it serves over 15 million customers nationwide. Ally still offers a free checking account with no monthly maintenance fees for the everyday management of your checking account. Ally also offers competitive CD rates and is often one of the top providers of the best CD rates. They also give out interesting promotions such as the Raise your Rate CD and the No Penalty CD.

2. Classic Bank -For the regular checking account, Classic Bank advertises a monthly fee of $7.50 for its checking account. However, this only applies should your balance fall below $750. Aside from that, Classic Bank also offers a totally free checking account with absolutely no minimum balance and no monthly fees. If that’s not enough, Classic Bank is also giving away a rewards checking with a whopping 3.01% APY. How’s that for high interest?

3. Incredible Bank – This bank was featured by CNN as the one of the top online banks because of its high yield checking and no ATM fees. Right now the checking account can offer a yield of as much as 1.06% APY on balances up to $249,000.

4. PNC Bank – Although PNC Bank is best known for its student loans and mortgages, it also offers a free checking account which can be rare nowadays. PNC Bank offers free ATM transactions, no monthly service charge, free online banking and bills payment, plus unlimited check writing. Also, there is no minimum monthly requirement to keep your account free.

These are only some of the banks who still offer totally free checking accounts and high interest rates. For sure there are more banks out there who may have better deals to offer. If your bank is offering a great rate or charges less in fees, feel free to share by commenting below.


Addison Avenue FCU Offers High Interest Checking Account

Addison Avenue FCU Interest CheckingWe just found this offer from Addison Avenue Federal Credit Union offering a “Dividend Rewards Checking Account” with an interest rate of 3.51% APY on accounts funded up to $25,000. Any amount over $25,000 and you still earn a modest 1.01% APY. This account functions the same way as any other high interest checking account and you must meet monthly requirements to earn the high interest advertised.

  • Make a minimum of 12 debit card (POS – point of sale) purchases per qualification period.
  • One direct deposit or one automatic recurring debit to your account per qualification period.
  • Enroll in e-statements.

Other Features Of The High Interest Checking Account:

  • Free direct deposit
  • Free E-Statements
  • Free Online check safekeeping
  • Free automatic overdraft transfers
  • Free Online banking and bill pay
  • Transfer funds electronically
  • No Monthly Fees!

Addison Avenue Federal Credit Union also has 360,000 ATMs, PLUS this high interest checking account is available to customers nationwide. Addison Avenue FCU started 50 years ago serving only Hewlett Packard employees, but since then has increased their memberships and added new products and services. Addison Avenue FCU is based out of California and offers one of the highest Interest Checking Accounts available.