We're focusing on checking accounts with no monthly maintenance fees, but we're also taking fees for foreign transactions, out-of-network ATMs, and more into consideration.
Here's what they had to say about checking accounts. (Some text may be lightly edited for clarity.)
What makes a checking account good or not good?
Roger Ma, CFP® professional and author of "Work Your Money, Not Your Life":
"I would look at the ATM branch locations and then minimum balance amounts to not incur a monthly fee. I think other stuff could make life easier, whether it's free checks, online bill pay, are they in the Zelle network?"
Sophia Acevedo, banking editor,Business Insider
"I would look for a checking account that either doesn't have any monthly services fees or offers multiple ways to waive the fee. I would also look at customer support availability and mobile app ratings."
How can someone determine whether a bank is the right fit for them?
Tania Brown, CFP® professional and vice president of coaching strategy at OfColor:
"Obviously, you want to make sure it's FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you're okay online. Do you write checks? Do you not write checks? So it's thinking through how your experience with it is going to be before you make that decision."
Mykail James, MBA, certified financial education instructor,BoujieBudgets.com:
"The No. 1 thing about a checking account is you should know what provider the debit card is coming from. And a lot of people don't think about that, because there are places that don't accept MasterCard or don't accept an Amex."
Methodology: How We Chose the Best Free Checking Accounts
First and foremost, we wanted to provide you with options. To find the best free checking accounts, we considered 200 checking accounts from mortar banks, online banks, credit unions, and online banking platforms.
We looked at how financial institutions charge other bank fees — for example, monthly service fees, out-of-network ATM fees, overdraft fees, or foreign transaction fees. If a financial institution offered a unique perk, like a high interest rate or a cash bonus, we evaluated the criteria needed to get the reward. For more about how we rate and review products, see our editorial standards page.
At Business Insider, we strive to help smart people make the best decisions with their money. We spent hours comparing and contrasting the features and fine print of 200 checking accounts so you don't have to.
We understand that "best" is often subjective, however, so in addition to highlighting the clear benefits of a checking account — no fees, for example — we outline the limitations, too.
Here is our bank account methodology so you can learn more about how we rate checking accounts.
We calculate reviews using a weighted average to get our star rating. That means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.