6 Best Banks to Avoid ATM Fees for June 2023

What can someone look for in an online bank?

Roger Ma, certified financial planner with lifelaidout® and author of “Work Your Money, Not Your Life”:

“How onerous the transfer process is, transferring money in and transferring money out. Is it same day, next day? Is it pretty easy to sync a brick-and-mortar checking account to this particular high-yield savings account?”

Mykail James, CFEI:

“When it comes to online banks, you want to be a little bit more strict about what type of interest rates they’re providing. That’s the biggest thing, because online banks are supposed to have the higher interest rate because they don’t have the overhead of the brick-and-mortar. You want to make sure that it’s well above the national average.

“What types of securities do they provide? Do they have two-factor identification? If it’s an online bank, they should definitely have — at the bare minimum — two-factor authentication in how easy it is to change your passwords and things like that, because you want to be a little more hypersensitive about the cyber security for a strictly online bank.”

Methodology: How Did We Choose the Best Banks for Avoiding ATM fees?

Personal Finance Insider’s mission is to help smart people make the best decisions with their money. We understand that “best” is often subjective, so in addition to highlighting the clear benefits of a financial product or account, we outline the limitations, too. We spent hours comparing and contrasting the features and fine print of various products so you don’t have to.

For our guide, we researched over two dozen financial institutions and financial service providers to find options with national or regional ATM networks. Then, we reviewed each institution to find bank accounts that minimize ATM fees for customers. Generally, checking accounts are more likely to offer ways to waive ATM fees than savings accounts. As a result, all of our top picks feature a checking account. We also considered the overall banking experience at each bank by using our rating methodology for checking accounts, which assesses criteria like customer support availability, mobile app ratings, and ethics.

Best Banks For ATM Use: Frequently Asked Questions

Best Online Bank for Avoiding Domestic ATM Fees

LendingClub

Why it stands out: LendingClub is an online bank with access to ATMs through SUM and MoneyPass ATM networks. It also doesn’t charge fees for using out-of-network ATMs.

The LendingClub Rewards Checking Account offers unlimited domestic ATM fee reimbursements for fees that other providers may charge you. You also might like this option if you’re searching for a rewards checking account that allows you to earn cash back and earn interest.

What to look out for: You need a minimum balance of $2,500 to receive cash back or earn interest with LendingClub. 

Best Credit Union for Avoiding Domestic ATM Fees

Connexus

Why it stands out: If you would like to bank with an online credit union instead of bank, Connexus could be a good option. Connexus is featured in our best credit union guide and provides access to over 54,000 surcharge-free ATMs.

If you get the Connexus Xtraordinary Checking Account, the credit union also reimburses up to $25 per month in other providers’ ATM fees. 

What to look out for: Credit unions require membership to open bank accounts. To become a member of the Connexus Association, make a one-time $5 donation; be an employee, retiree, member, student, student graduate, or relative of a member of certain organizations; residents of areas in Minnesota, Ohio, or Wisconsin; be a relative, spouse, or housemate of a Connexus member. 

Best National Bank for Avoiding Domestic ATM Fees

Chase

Why it stands out: Chase is a solid choice if you want to open a checking account at a national bank. Chase is one of the largest national banks, with over 4,700 branches and 16,000 free ATMs throughout the continental US.

There are 5 types of Chase checking accounts, but Chase Sapphire℠ Banking
will likely be the strongest option for avoiding bank ATM fees. It doesn’t charge any foreign transaction fees and reimburses all ATM fees on non-Chase machines.

What to look out for: Chase Sapphire℠ Banking charges a $25 monthly service fee if you do not maintain an average daily balance of $75,000 or more across your Chase bank accounts. If you don’t regularly maintain a high account balance in your bank accounts, you might prefer another financial institution to that reimburses ATM fees. 

Best Institution for Avoiding International ATM Fees

Charles Schwab

Why it stands out: Charles Schwab is an investment platform, but it also has banking products. Its Schwab Bank High Yield Investor Checking® Account notably offers unlimited refunds for ATM fees worldwide, and it doesn’t charge foreign transaction fees.

What to look out for: When you open the Schwab Bank High Yield Investor Checking® Account, you’ll also have to open a Schwab brokerage account. If you’re not interested in opening a brokerage account, consider one of our other top picks. 

Best Regional Bank for Avoiding Domestic ATM Fees

TD Bank

Why it stands out: TD Bank could be an appealing option for people who live on the East Coast and are more comfortable with banking in person instead of online.

There are three types of TD Bank checking accounts, but only the TD Bank Beyond Checking Account waives ATM fees. You will also be reimbursed if you’re charged by an out-of-network ATM provider when you maintain a daily account balance of $2,500 or more. 

What to look out for: TD Bank only has branches in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhone Island, South Carolina, and Vermont. 

The TD Bank Beyond Checking Account also has a $25 monthly service fee. To waive the fee, you must receive $5,000 in monthly direct deposits, maintain a $2,500 minimum daily balance, or keep a total of $25,000 in all TD Bank accounts.

Best Online Banking Platform for Avoiding Domestic ATM Fees

Betterment

Why it stands out: You may like Betterment if you are open to getting a checking account with an online investment platform instead of a brick-and-mortar financial institution. Your money is secure in a Betterment Checking Account because it is FDIC insured for up to $250,000 per depositor through the company’s partner bank, NBKC. 

The Betterment Checking Account stands out from other accounts because it reimburses all ATM fees.

What to look out for: Betterment only offers a checking and cash reserve account. If you’d like to open CDs or a money market account, you might prefer a bank or credit union instead.

Bank Alternatives for Avoiding ATM Fees 

Our top picks stood out because they had appealing features. While the accounts listed below weren’t among our picks, you still might consider one of these options.

• Wells Fargo Prime Checking: Wells Fargo doesn’t charge ATM fees with Prime Checking, but it only reimburses up to two non-Wells Fargo ATM charges from out-of-network providers per fee period.
• Bank of America Advantage Plus Checking Account: Bank of America has over 16,000 ATMs in the US, but to avoid ATM fees you’ll have to be eligible for Preferred Rewards. The Platinum Honors, Diamond, and Diamond Honors tiers offer the most perks to avoid ATM fees, but the lowest tier mentioned — Platinum Honors — requires a 3-month combined average daily balance of $100,000 or more.
• Chime Checking Account: Chime has access to over 60,000 fee-free ATMs, but it charges a $2.50 out-of-network ATM fee. You’ll also have to pay fees from other ATM providers because Chime doesn’t offer any reimbursements.
• Consumers Credit Union Free Rewards Checking Account: Consumers Credit Union offers unlimited reimbursements for all ATM fees, but you’ll need to do the following: 1) sign up for online statements,  2) make 12 or more debit card purchases each month, and 3) receive a total of $500 or more in direct deposits, mobile check deposits, or transfers each month.
• First Citizens Bank Free Checking Account: First Citizens Bank has a smaller ATM network than Chase and TD Bank. There’s also a $2.50 fee on non-First Citizens Bank ATMs if you have a First Citizens Bank Free Checking account and no monthly ATM fee reimbursements.
• SoFi Checking and Savings: SoFi doesn’t charge ATM fees, but it doesn’t offer reimbursements if you’re charged by another provider. 
• Quontic High Interest Checking Account: Quontic Bank has access to a large ATM nationwide network, but it won’t reimburse you for fees from an out-of-network provider. 
• Wealthfront Cash Account: Wealthfront charges a $2.50 out-of-network ATM fee and also doesn’t offer ATM fee reimbursements.
• Discover Cashback Debit Account
  : Discover doesn’t charge ATM fees. However, you won’t be reimbursed for ATM fees if an out-of-network ATM provider charges you.
• Alliant High-Interest Checking Account: Connexus offers more in monthly ATM rebates than Alliant.
• Fifth Third Momentum® Checking: Fifth Third Bank is part of the Allpoint, Presto!, and 7-Eleven ATM networks, but if you use an out-of-network ATM there’s a $3 fee.
• KeyBank Smart Checking Account: If you use a non-KeyBank ATM, the bank won’t charge you for your first two transactions each month. However, if you make three or more transactions from a non-Key Bank ATM, the bank charges $3 per transaction and won’t reimburse you for any additional charges by the ATM provider.
• Bethpage Federal Credit Union Free Checking Account: Bethpage Federal Credit Union doesn’t charge ATM fees, but it doesn’t offer reimbursements if you’re charged by another provider. 
• Ally Spending Account: Ally will reimburse you up to $10 per month for fees charged by out-of-network ATM providers in the US, while LendingClub offers unlimited reimbursements.
• CIT Bank eChecking Account: CIT Bank doesn’t have an ATM network. 
• TIAA Bank Basic Checking: TIAA Bank doesn’t charge ATM fees, but it doesn’t offer reimbursements if you’re charged by another provider. 
• USAA Classic Checking: USAA will reimburse you up to $10 per month for fees charged by out-of-network ATM providers in the US, while LendingClub offers unlimited reimbursements.
• Amalgamated Bank Give-Back Checking Account: Amalgamated Bank charges a $2.50 fee for using non-Amalgamated ATMs.
• America First Credit Union Classic Checking Account: America First Credit Union charges a $1.50 fee for using an out-of-network ATM.
• American Express Business Checking: American Express doesn’t offer reimbursements if you’re charged by another provider. 
• Bank5 Connect High-Interest Checking Account: Bank5 Connect will reimburse you up to $15 per month for fees charged by out-of-network ATM providers in the US, while LendingClub offers unlimited reimbursements.
• NBKC Everything Account: NBKC will reimburse you up to $12 per month for fees charged by out-of-network ATM providers in the US, but LendingClub offers unlimited reimbursements.
• Pentagon Federal Credit Union Access America Checking Account: PenFed charges a $1.50 out-of-network ATM fee and also doesn’t offer ATM fee reimbursements.
• Salem Five Direct eOne Checking: Salem Five Direct will reimburse you up to $15 per month for fees charged by out-of-network ATM providers in the US, but LendingClub offers unlimited reimbursements.

Bank Trustworthiness and BBB Ratings

The Better Business Bureau grades companies based on responses to customer complaints, advertising, and transparency about business practices. Here are the BBB scores for our top picks:

The BBB acknowledges that LendingClub, TD Bank and Chase have been involved in recent public settlements. 

In July 2021, LendingClub Corporation paid $18 million in a settlement with the Federal Trade Commission when accused of deceptive lending practices that charged consumers hidden fees. The FCC also claimed that LendingClub told customers they were approved for a loan even when they weren’t.

In 2020, JP Morgan Chase & Co. paid the Department of Justice $920 million in a settlement that said the bank was involved in wrongful trading. 

In the same year, the US Department of Labor also required Chase to pay $800,000 in back wages in a settlement that accused the bank of underpaying women. 

In 2020, the US Bureau of Consumer Financial Protection required TD Bank to pay $122 million in a settlement that accused the bank of charging customers a Debit Card Advance service without their permission.

Betterment has a F rating because it received a high volume of customer complaints on the BBB website and has six unresolved complaints.

Chase has an A- rating because it has four unresolved customer complaints.

A good BBB rating won’t necessarily guarantee your relationship with a bank will be perfect. Reach out to current customers or read online customer reviews to see if a bank might be right for you.

How to Look at Network Size Before Picking a Bank

One of our top tips for how to choose a bank is to find a bank that is accessible to you. Here are two ways to compare ATM network size:

1. Visit the bank website. Most banks have an ATM locator tool. You can use this tool to see how many nearby ATMs are in your area. National banks may also list the total number of ATMs in an infographic on their bank’s website. Online banks usually do not offer their own ATM networks. However, they often partner with a large network like Allpoint or MoneyPass. Therefore, customers still have free access to thousands of ATMs around the US.
2. If you are looking at a local financial institution, see if it’s part of a shared ATM network. To remain competitive, smaller financial institutions often share locations and services so that members can have access to nationwide resources.

Banks That Reimburse ATM Fees

The following financial institutions and fintech companies offer reimbursement for fees when you use an ATM from another bank or credit union: