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Best Checkless Checking Accounts 

Checkless checking accounts seem counterintuitive, but once understood, they are a practical alternative to a typical checking account. Although checkless checking accounts are not as common or popular as a standard checking account, you’d be surprised with how many banks are offering this account type.

If you need help managing your money, or if you’re just starting off on your own for the first time, a checkless checking account may be a great option for you! What is a checkless checking account and what is the best option? We’re glad you’ve asked.

What Is a Checkless Checking Account 

A checkless checking account functions just like a typical checking account, however, a checkless checking account does not allow the account owner to write checks. So what’s the benefit of that?

Simply put, if you cannot write checks, you will not be able to overdraft your account! Without question overdraft fees are frustrating, and they can also be costly. 

Benefits of a Checkless Checking Account 

Checkless checking accounts have numerous benefits. Some of the most common benefits include:

  • Overdraft Protection: As mentioned above, if you cannot write checks, you cannot overdraft your account. 
  • FDIC Insurance: When you put your money in a bank that is insured by the Federal Deposit Insurance Corporation, your money is fully protected up to $250,000
  • Mobile Banking: Mobile banking is a common option with checkless checking accounts, which is great for those that are comfortable with technology 
  • Automatic Bill Pay: You are more than capable of enrolling in auto bill pay with checkless checking accounts, allowing you to stay on top of your financials 

What Are the Best Checkless Checking Accounts 

If you’re interested in opening a checkless checking account, the following accounts are certainly worth considering! 

Bank of America SafeBalance Banking

Bank of America is a well-known and established bank with locations all throughout the United States. With thousands of retail locations and ATMs, banking is a breeze!

Bank of America offers a fantastic checkless checking account known as the SafeBalance account. If you are over the age of 16 years old, you can open an account.

Alos, if you are a student and under the age of 25 years old there is no monthly fee! One of the benefits of banking with Bank of America is the fact that Bank of America is a full-service bank.

You can obtain loans through Bank of America, have a savings or traditional checking account, and even purchase a home through their mortgage division. If you’d like to complete all your banking under one roof, Bank of America answers that call.

Citi Bank Affordable Access Banking 

Another great checkless checking account is the Affordable Access Checking Account from CitiBank. Their overdraft protection system ensures that no transaction is ever approved if the transaction is greater than the available funds you have in your account!

Additionally, you can avoid the $10 monthly fee if you keep more than $1,500 in your account, or if you make one qualifying direct deposit or bill payment through this checkless checking account. Similar to Bank of America, Citi Bank has plenty of retail locations, ATMs, and a seamless mobile or online banking experience.

The Affordable Access Banking program is a great option for students, or for those that need better control of their finances. 

Capital One 360 Checking

Capital One’s 360 Checking Account cannot go unmentioned. This option has no account minimums, no fees, and no worries! With over 70,000 ATMs across the globe, Capital One is incredibly convenient.

Their top-rated mobile app makes mobile banking simple, and their redesigned banking cafes or branches are located throughout the country. If you need to deposit money to your account, you can do so at the local branch or at any CVS store, and moving money is easy with the Zelle service they provide.

It’s hard to believe Capital One offers all of these benefits for no fees, but it’s true! 

Managing Your Money is Critical

It doesn’t matter if you’re a student and just starting out, a working professional, or retired; money management is a critical component of success. Despite how important money management is, it by no means is simple.

Money management can be a complicated business, which is why so many people turn to financial advisors for support. Financial advisors are great resources to use to establish better money management practices and to help you maximize your investment returns. 

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Join The Finance Super App - M1 Finance!

The finance super app! Yours to build. Invest, borrow, and spend with one easy-to-use platform. Get the most out of M1 when you sign up for a one-year free trial of M1 Plus (a $125 value).