Top 8 Least Evil Banks
CNNMoney has put together a list of 8 banks with zero ATM fees, free checking and high-yielding accounts.
8. Charles Schwab
Charles Schwab is an online bank with a free checking account, but only if you open a brokerage account first, which is easy since you don't have to make any trades or carry a minimum balance. Once you open the Schwab Bank High Yield Investor Checking account, there's no monthly service fee, no currency exchange fee when using ATMs overseas and no minimum balance requirement. Plus, it pays a 0.25% yield.
Schwab will also let you use any ATM at zero charge and offers unlimited ATM fee rebates for the fees other banks charge. Schwab also issues free paper checks to its customers.
7. The Incredible Bank
5. Alliant Credit Union
They offer high-rate checking, no monthly fees and is part of a large ATM network of over 80,000, of which of you use free of charge. Alliant offers a checking account with no monthly service fee and no minimum balance requirement. You can easily earn a high APY of 1.10% on your checking account if you opt out of paper statements and make at least one monthly electronic deposit.
4. Capital One
All three of Capital One's checking accounts come free of monthly maintenance fees and minimum balance requirements, but if you live in Virginia, Maryland or D.C., you'll be charged a monthly fee of $8.95 after the first year of free checking if your balance drops below $1,500.
Capital One has one downside because it charges customers $2 to use non-Capital One ATMs — and it only has about 2,000 ATMS across nine states (Connecticut, District of Columbia, Delaware, Louisiana, Maryland, New Jersey, New York, Texas and Virginia). The bank also won't reimburse any fees the out-of-network ATM charges you.
USAA offers a checking account with no minimum balance requirement, no monthly maintenance fee and issues free paper checks. The bank also allows 10 free ATM withdrawals per month and refunds up to $15 of what other banks charge you for using their ATMs. It has a bank-to-bank transfer service as well, so customers can go to a local bank to access their funds.
2. ING Direct
This web-based bank does not charge monthly maintenance fees, does not require you to keep a minimum balance, and allows you to use any ATM for free. Ally's Interest Checking account, which launched last year, offers a rate of 1.05% APY (annual percentage yield) if you keep a balance of at least $15,000 in your account. If your balance is under $15,000, you still get a rate of 0.5%. Ally also allows you to move money between their bank and others free of charge.
Ally Bank does have one downside when it comes to deposits because you cannot easily deposit checks at a branch or via smartphone, but they provide postage-paid envelopes to mail in your deposits.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.