3 Banks Where Checking and Debit Cards Are Still Free

Lately who isn't  upset  about bank fees like few other personal finance issues in memory.

Bank of America's announcement of a $5 monthly fee for debit card transactions was the last straw for many who feel they're being nickel and dimed in a tough economy.

There's an increasing frustration that seemingly any banking activity may now incur an extra charge. PNC Bank, for example, docks some customers $2 to $3 if they call a representative to transfer money.

The fees are still going up at more banks. All told, 60 percent more bank accounts carry fees and balance requirements than a year ago, an August survey by Bankrate.com found.

It's up to consumers to tackle their own fees head on.

The new charges have at least accomplished one positive thing: serving as a virtual call to arms for consumers to take action by changing accounts, switching banks or otherwise trying to get around or reduce fees.

There are safe alternatives to your local banks online. Most have no monthy fee or debit card charges. They give free checks and reimburse your fees for using other banks ATM's.

Below are 3 online banks that I believe are at the top of the list.

1. EverBank

This was a late addition, but EverBank has perhaps the best offering right now with no fees, an interest bearing account, reimbursed ATM fees and they’ll even pay you $60 to switch to them!

• Monthly Account Fee: $0
• Debit Card Fee: $0
• Opening Deposit: $1,500 deposit to open
• Checks: free checks
• ATM Fees: zero ATM fees – if your balance is over $5,000 they will reimburse you the ATM fees from other banks.
• Interest: EverBank guarantees that you will earn interest that is in the top 5% of what all banks offer.
• Cashback Rewards on Debit Card: n/a

Official EverBank Site, FDIC-Insured, High-Yield CDs, Safely Secure Large Deposits, www.EverBank.com

Image via CrunchBase

2. PerkStreet Financial

PerkStreet Financial offers a no fee MasterCard debit card and checking account. With PerkStreet, online bill pay and banking and banking are free and there is:

• Monthly Account Fee: $0 monthly account fee if you have at least one debit card transaction.
• Debit Card Fee: $0
• Opening Deposit: A$25 deposit will get you started.
• Checks: free checks
• ATM fees: 37,000 ATM’s nationally that you can withdraw from without surcharge, otherwise $2 surcharge.
• Interest: no interest earned on your balance.
• Cashback Rewards on Debit Card: Perkstreet’s biggest appeal is that at a time when other banks are beginning to charge you for debit cards, they offer you cash back! If you maintain a $5,000 balance, you get an outstanding 2% cashback. If under $5,000, you’ll get 1%. There are also 5% cash back categories throughout the year with PerkStreet.

PerkStreet Financial^SM offers you the only unlimited 2% cash back debit card. Instead of creating more debt when you're shopping, you're creating more cash. So be Super Smart and sign up today.

Image via Wikipedia3. Ally Bank

I’m a big fan of Ally Bank because they don’t do business like other large, national banks. They create appealing products that don’t take advantage of their customers. Ally Bank Interest Checking offers:

• Monthly Account Fee: $0
• Debit Card Fee: $0
• Opening Deposit: $0 deposit to open
• Checks: free checks
• ATM Fees: zero ATM fees – they actually pay for fees charged by other banks!
• Interest: you earn interest on your balance.
• Cashback Rewards on Debit Card: n/a

Open an Interest Checking Account from Ally Bank today!


These big bank fee increases are the blow back for changing government regulations. Like always the consumer gets stuck with the bill when Washington trys to help us. Don't stand for the fee increases and send the big banks a message.