Jake Miller
Banks can charge huge fees for using your debit card and withdrawing money from an ATM, especially when travelling overseas. However, there are several banks that do not charge ATM fees, including Alliant Credit Union, Axos Bank, Charles Schwab Bank, Consumers Credit Union, E*TRADE, EverBank, and LendingClub Bank. Online banks, such as Capital One, typically do not offer their own ATM networks, but they often partner with large networks like Allpoint or MoneyPass, which provide customers with free access to thousands of ATMs.
| Characteristics | Values |
|---|---|
| Banks with no ATM fees | Alliant Credit Union, Axos Bank, Charles Schwab Bank, Capital One, E*TRADE, EverBank, LendingClub Bank, NBKC Bank, Chase Sapphire Banking, Monzo, Club Lloyds |
| Perks | Free access to thousands of ATMs worldwide, ATM fee reimbursements, no foreign transaction fees, no monthly fees, no minimum balance fees, no overdraft fees |
| Networks | Allpoint, MoneyPass, CO-OP |
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What You'll Learn
Banks that offer ATM fee reimbursements
ATM fees can add up quickly, especially when using out-of-network ATMs, so it's worth considering banks that offer reimbursements or refunds for these fees. Here are some banks that provide ATM fee reimbursements:
Alliant Credit Union
Alliant Credit Union offers fee-free access to a large number of ATMs through third-party networks. They also provide up to $20 in ATM fee rebates each month with their High Rate Checking Account. This account has no monthly service fee, and rebates are deposited within one business day. However, there is a 1% foreign transaction fee when using ATMs abroad.
Axos Bank
Axos Bank offers unlimited domestic ATM fee reimbursements for its Essential Checking, Rewards Checking, and Cashback Checking accounts. They are considered the best online bank for free domestic ATM access.
Charles Schwab Bank
Charles Schwab Bank is known for offering free worldwide ATM access. With their High Yield Investor Checking Account, customers receive unlimited ATM fee rebates worldwide, and the bank does not charge foreign transaction fees. This makes it an excellent option for international travelers.
Consumers Credit Union
Consumers Credit Union offers unlimited reimbursement for all ATM fees with its Rewards Checking account. This includes more than 30,000 surcharge-free ATMs in the US. To qualify for these reimbursements, customers must set up direct deposits and make at least 12 debit card purchases monthly.
E*TRADE
E*TRADE, an online brokerage and banking platform, offers two types of accounts with ATM fee refunds. The Checking account provides nationwide ATM refunds, while the Max-Rate Checking account offers unlimited worldwide ATM fee refunds and foreign transaction fee refunds. The Max-Rate Checking account has a monthly fee, which can be waived with a $5,000 average monthly balance.
EverBank
EverBank, formerly known as TIAA Bank, offers up to $15 in monthly ATM fee rebates with its checking account. If you maintain an average daily balance of $5,000 or more, you'll receive unlimited reimbursement of ATM fees.
LendingClub Bank
LendingClub offers unlimited ATM fee reimbursements with its LevelUp Checking account. The reimbursements are deposited into your account at the end of each statement cycle.
Navy Federal Credit Union
Navy Federal Credit Union offers up to $10 in ATM fee rebates per statement cycle for its Free Easy Checking account. To be eligible for this benefit, members must set up direct deposit or make at least 20 transactions each month.
TD Bank
TD Bank's Beyond Checking account offers unlimited out-of-network ATM fee reimbursements if you maintain a minimum balance of $2,500 in the account.
Chase Sapphire Banking
Chase Sapphire Banking is a good option for avoiding ATM fees, especially with its large network of ATMs and branches. While it charges a $25 monthly service fee, this can be waived by maintaining a high average daily balance of $75,000 across your Chase accounts.
In addition to these banks, Capital One is known for providing fee-free access to a large number of ATMs, including their own and third-party networks like MoneyPass and Allpoint. However, they do not reimburse ATM operator fees at domestic or international ATMs. Monzo is another option, offering fee-free withdrawals within certain limits in the European Economic Area and worldwide.
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Banks with their own fee-free ATMs
Capital One
Capital One offers fee-free access to over 70,000 ATMs, including its own bank-owned ATMs and third-party networks, MoneyPass and Allpoint ATMs. Capital One does not charge out-of-network ATM fees or foreign transaction fees when using a debit card overseas.
Chase
Chase is a good option if you want to open a checking account at a national bank. It has over 4,700 branches and 16,000 free ATMs across the continental United States. The Chase Sapphire Banking account is a strong option for avoiding ATM fees, as it does not charge foreign transaction fees and reimburses ATM fees. However, it does have a $25 monthly service fee if you do not maintain an average daily balance of $75,000 or more across your Chase bank accounts.
Charles Schwab Bank
Charles Schwab Bank is a good option for international travellers as it does not charge foreign transaction fees and refunds all fees charged by ATMs worldwide. Its High Yield Investor Checking Account offers unlimited refunds for ATM fees worldwide.
Alliant Credit Union
Alliant Credit Union offers free domestic ATM access through its own network and participation in nationwide shared ATM networks.
Axos Bank
Axos Bank provides free domestic ATM access through its own network and partnerships with other networks.
NBKC Bank
NBKC Bank offers its Everything Account holders access to more than 37,000 fee-free ATMs in the MoneyPass network. It also reimburses up to $12 of US out-of-network ATM fees per month.
E*TRADE
E*TRADE, an online brokerage and banking platform owned by Morgan Stanley Private Bank, does not charge for withdrawals from any ATM. Its Max-Rate Checking account offers unlimited ATM fee refunds worldwide and refunds foreign transaction fees. However, this account has a monthly fee, which can be waived with a $5,000 average monthly balance.
PenFed Credit Union
PenFed Credit Union offers its Access America Checking account holders access to over 85,000 surcharge-free Allpoint and CO-OP ATMs, many of which are located within popular retailers. While PenFed does not charge fees for domestic out-of-network ATM usage, it does not offer reimbursements for third-party fees.
Additionally, Allpoint is a large ATM network with over 55,000 ATMs worldwide that is often used by online banks and credit unions. MoneyPass is another large network with thousands of ATMs across the United States. Many banks offer reimbursement for fees when you use an ATM from another bank or credit union, so it is worth checking with your bank to see if they offer this perk.
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Banks with partnerships with fee-free ATM networks
Many banks have partnerships with fee-free ATM networks, allowing their customers to withdraw cash without incurring additional charges. Here are some examples of banks with such partnerships:
Capital One
Capital One offers fee-free access to over 70,000 ATMs through its partnership with two third-party networks, MoneyPass and Allpoint. Capital One does not charge out-of-network ATM fees or foreign transaction fees when using a debit card overseas. However, it's important to note that Capital One doesn't reimburse fees charged by ATM operators at domestic or international ATMs.
Charles Schwab Bank
Charles Schwab Bank is known for its attractive offer of unlimited refunds for ATM fees worldwide, making it a popular choice for international travellers. They also do not charge any foreign transaction fees. Their Schwab Bank High Yield Investor Checking® Account is a notable option in this regard.
E*TRADE
E*TRADE, an online brokerage and banking platform owned by Morgan Stanley Private Bank, offers fee-free withdrawals from any ATM. Their Max-Rate Checking account provides unlimited ATM fee refunds worldwide and refunds foreign transaction fees. However, it's worth mentioning that this account has a monthly fee, which can be waived with a $5,000 average monthly balance.
Chase Sapphire℠ Banking
Chase Sapphire Banking is a strong option for those seeking to avoid ATM fees. While it charges a $25 monthly service fee, this can be waived by maintaining an average daily balance of $75,000 or more across Chase bank accounts. Chase has a vast network of over 16,000 free ATMs throughout the continental United States, providing convenient access to fee-free withdrawals for its customers.
EverBank
EverBank is part of the Allpoint and MoneyPass ATM networks, providing its customers with fee-free access to over 80,000 ATMs. Additionally, they offer reimbursements of up to $15 in out-of-network ATM fees each month. For accounts with average daily balances of at least $5,000, there is no limit to the number of ATM fee reimbursements.
These are just a few examples of banks that have partnerships with fee-free ATM networks, allowing their customers to avoid ATM fees and conveniently access their cash without additional charges.
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Banks with no foreign transaction fees
When it comes to banks with no foreign transaction fees, there are a few options to consider, especially if you frequently travel internationally or make purchases in foreign currencies. Here are some banks and accounts that offer no foreign transaction fees:
Credit Cards with No Foreign Transaction Fees
Some credit card issuers, including Capital One and Discover, never charge foreign transaction fees on any of their card products. Travel credit cards also often refrain from charging foreign transaction fees, meaning the bank will cover any fees charged by the networks.
The Bank of America® Travel Rewards Credit Card is a good option for those seeking a simple, no-frills card without a lot of fees. This card has no annual fee and offers a solid sign-up bonus, as well as a rewards structure. The Bank of America® Travel Rewards Credit Card for Students is also a great choice, offering unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees.
Checking Accounts with No Foreign Transaction Fees
If you're looking for a checking account with no foreign transaction fees, the Schwab Investor Checking Account™ is worth considering. This account offers seamless integration with a Schwab One® brokerage account, no monthly fees, no minimum balance requirements, and unlimited worldwide ATM fee reimbursements.
SoFi is another option that offers a range of consumer products, including banking services with no foreign transaction fees.
Debit Cards with No Foreign Transaction Fees
While some debit cards do charge foreign transaction fees, there are options that don't. Monzo, for example, allows unlimited foreign purchases without a transaction fee, although it does charge for cash withdrawals over certain amounts.
It's important to note that fees can vary between banks and card networks, so it's always a good idea to check with your bank and review the terms and conditions before travelling or making international purchases.
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Banks with no monthly fees
There are several banks that offer accounts with no monthly fees. Many of these accounts also provide the benefit of free ATM transactions. Here are some banks with accounts that have no monthly fees:
Capital One
Capital One is one of the most frequently recommended banks for no-fee checking accounts. It offers fee-free access to over 70,000 ATMs, including its own bank ATMs and those in the MoneyPass and Allpoint networks. Capital One does not charge out-of-network ATM fees or foreign transaction fees when using a debit card internationally.
Bank of America Advantage Banking
Bank of America offers no monthly maintenance fee on its Advantage Safebalance Banking account for customers under the age of 25. Additionally, for Preferred Rewards members in the Gold, Platinum, or Platinum Honors tiers, the monthly maintenance fee waiver applies to the first four checking and savings accounts. The monthly maintenance fee is waived entirely for clients in the Diamond Honors tier.
Chase Sapphire Banking
Chase offers a range of checking accounts, with Chase Sapphire Banking being a strong option for avoiding ATM fees. While it typically charges a $25 monthly service fee, this can be waived by maintaining an average daily balance of $75,000 or more across all Chase bank accounts and partner investment accounts. Chase provides access to 15,000 Chase ATMs and over 4,700 branches nationwide.
Alliant Credit Union
Alliant Credit Union is recommended for its free checking accounts and free domestic ATM access. It also offers ATM fee reimbursements, crediting your account for any fees charged by out-of-network ATMs.
Charles Schwab Bank
Charles Schwab Bank is ideal for international travelers as it does not charge foreign transaction fees and refunds all ATM fees charged worldwide. Its High Yield Investor Checking® Account offers unlimited refunds for ATM fees globally.
Local Credit Unions
Many local credit unions offer free checking accounts without monthly fees or deposit requirements. They often provide free access to nationwide ATMs through shared ATM networks such as Allpoint and MoneyPass.
It is important to note that while these banks offer accounts with no monthly fees, specific requirements or conditions may need to be met to maintain this benefit. Additionally, ATM fee structures can vary based on the account and ATM network used.
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Frequently asked questions
Banks that do not charge ATM fees include Alliant Credit Union, Axos Bank, Charles Schwab Bank, Capital One, and NBKC Bank.
Yes, you will need to have an account with these banks to access their fee-free ATMs.
Yes, you can use an ATM that belongs to your bank, as nearly any financial institution will let you withdraw money for free from its own ATMs. You can also use an ATM from another financial institution that is part of a shared ATM network, such as Allpoint or MoneyPass.
Yes, some banks offer ATM fee reimbursements or refunds, including Alliant Credit Union, Axos Bank, Charles Schwab Bank, Consumers Credit Union, E*TRADE, EverBank, and LendingClub Bank.
Yes, Monzo does not charge fees for withdrawals in the European Economic Area (EEA) and offers free withdrawals up to £200 every 30 days outside of the EEA. Charles Schwab Bank is also a good option for international travelers as it does not charge foreign transaction fees and refunds all fees charged by ATMs worldwide.
