The 10 Best Banks For No ATM Fees in 2022

When banks advertise themselves as fee-free, you’ve got to question how truly fee-free they really are. For example, major banks that boast no monthly maintenance fees can still get you with overdraft fees, foreign transaction fees and even paper check fees.

ATM fees are a different breed. Your own personal bank isn’t benefiting from the ATM surcharges you pay when using out-of-network ATMs (the ATM operator is), but the best banks help you avoid ATM fees by offering vast networks of fee-free ATMs or, even better, reimbursements for ATM fees.

If you frequently use an ATM, whether to deposit cash or checks for an account with an online bank or to withdraw money for cash-only purchases, consider switching to a financial institution that helps you avoid ATM fees most easily.

In researching banks that offer ATM reimbursements or vast networks of in-network ATMs, we built out a list of the 10 best banks for avoiding ATM surcharges. Consider opening a checking account with one of these banks or credit union.

Details on Best Banks for No ATM Fees

We’ve ordered these banks starting with our top choice for avoiding ATM fees, but remember that bank ATM fees are only part of the picture. Banks charge a lot of other fees, some of which can be hidden. Choose a financial institution from this list that not only meets your ATM needs but also any other banking needs.

Schwab High Yield Investor Check

Best for International Travelers

Key Features

• No monthly fees
• No foreign transaction fees
• 0.03% APY

While Needham Bank offers a slightly higher APY than Charles Schwab, the additional earnings are negligible. Where Charles Scwab shines is in its lack of foreign transaction fees. Foreign travelers get double the benefit since all ATMs fees are fully reimbursable.

Schwab High Yield Investor Checking

APY

0.03%

ATM reimbursements

Unlimited globally

ATM network

N/A; unlimited reimbursement

Axos Bank Checking Accounts

Best for Earning Money

Key Features

• 1.00% APY or 1.00% cash back
• No monthly maintenance fees
• No overdraft fees

Axos Bank charges zero in overdraft and insufficient funds fees, plus it has no monthly fees. While ATM fee rebates are limited to domestic ATMs, Axos still shines with its 1.00% APY (Rewards Checking) or 1.00% cash back (Cashback Checking). It also has the standard Essential Checking.

Axos Bank Checking Accounts

APY/Cash Back

1.00%

ATM reimbursements

Unlimited nationwide

ATM network

N/A; unlimited nationwide

LendingClub Rewards Checking

Best for Borrowers and Investors

Key Features

• 1.00% cash back
• No monthly maintenance fees
• Early direct deposit

LendingClub is another fee-free account with unlimited ATM surcharge reimbursements in the US. Debit card users will benefit from the 1.00% cash back, and if you keep more than $2,500 in your checking, you’ll even earn 0.10% APY (0.15% APY on $100,000+, but we don’t recommend keeping that much in checking).

LendingClub Rewards Checking

Cash bank

1.00%

ATM reimbursements

Unlimited nationwide

ATM network

N/A; unlimited nationwide

Alliant Credit Union

Best for No Overdraft Fees

Key Features

• No overdraft fees
• Leading mobile app
• 0.25% APY

Alliant Credit Union is the best credit union to open a checking and savings account, hands down — and not just for avoiding ATM fees. The lack of overdraft fees, high-yield APY (even for the Teen Checking option), large network of ATMs (80,000 and counting) and $20 in monthly ATM fee reimbursements are hallmarks of the credit union.

Alliant High-Rate Checking/Teen Checking

APY

0.25%

ATM reimbursements

$20/month

ATM network

80,000 in network

Citibank

Best for Checking Account Options (4)

Key Features

• Several checking options
• Physical branches
• Up to 0.25% APY

Citibank offers a range of checking accounts. With the Access Account Package, you can bank without fear of overdraft fees, but with the Elevate Account Package, you’ll get unlimited ATM fee reimbursements. These accounts are not free; for example, Elevate is $15/month, but you can waive the fee by maintaining $5,000+ in the account. Without Elevate, you still have access to 65,000 fee-free ATMs.

Citibank Checking Options

APY

Up to 0.25%

ATM reimbursements

Unlimited for a waivable fee

ATM network

65,000 in network

USAA Classic Checking

Best for Military Community

Key Features

• For active/retired military and families
• No monthly fees
• Early direct deposit

USAA is the trusted name for insurance and banking for active duty military members, veterans and their families. No hidden fees, up to $15 a month reimbursement for out-of-network ATM fees and a network of over 60,000 ATMs are just a few reasons to consider USAA. Balances over $1,000 do earn interest—but it’s nominal at 0.01%.

USAA Classic Checking

APY

Up to 0.01%

ATM reimbursements

$15/month

ATM network

60,000 in network

Discover Cashback Debit

Best for Cash Back

Key Features

• 1.00% cash back
• No monthly maintenance fees
• Leading mobile app

Discover is one of our favorite banks for cash back, but it’s also great for frequent ATM users thanks to its network of 60,000+ ATMs. Zelle and a lack of fees (no debit card replacement fees, no bank check fees and no insufficient fund fees) are just two more reasons to consider banking with Discover. Unfortunately, Discover does not offer ATM fee rebates.

Discover Cashback Debit

Cash Back

1.00%

ATM reimbursements

n/a

ATM network

60,000 in network

Aspiration Spend Account

Best for Socially Conscious Savers

Key Features

• 3.00% cash back on Conscience Coalition purchase
• Pay what is fair (even if it’s $0)
• Deposits don’t fund fossil fuel

The Aspiration account is great for the environment. Deposited funds will never be used for fossil fuel research or production, and you earn cash back when spending responsibly. The linked Save account earns a decent APY, and the $7.99/month Aspiration Plus account comes with great features. While Aspiration only reimburses one out-of-network ATM surcharge a month, it does have 55,000 ATMs in network.

Aspiration Spend Account

APY

Up to 5.00% in linked Save account

ATM reimbursements

1 per month

ATM network

55,000 in network

Ally Bank Interest Checking

Best for Online Banking

Key Features

• Up to 0.25% AP
• Automatic savings tools
• No monthly fees

Ally Bank continues to be one of our favorite online banks. Your checking account will earn 0.10% (0.25% if you have $15,000+ in checking), there’s no minimum balance requirement, Ally charges no monthly fees and the app is top-notch. While we wish Ally offered more in-network ATMs (43,000+ currently via Allpoint), the bank does reimburse out-of-network ATM fees up to $10/month.

Ally Bank Interest Checking

APY

Up to 0.25%

ATM reimbursements

$10 per month

ATM network

43,000 in network

What Frequent ATM Users Should Look for in a Bank or Credit Union

If you visit an ATM for cash withdrawals or deposits multiple times a month, you should absolutely find a bank or credit union that allows you to do so at no cost to you. When scouring the fine print of potential financial institutions, look for one that offers unlimited out-of-network ATM fee reimbursements.

When the reimbursements are unlimited, you never have to worry about locating an ATM that is in your network. Simply locate the nearest ATM and, regardless of the advertised fee, rest assured your bank will reimburse you for whatever the machine charges.

If you travel outside the country and plan to use an ATM, you should specifically find a bank that offers global ATM surcharge reimbursements. This is especially important because ATM operators typically charge a higher international transaction fee. However, banks that simply offer unlimited nationwide rebates for bank ATM fees should suffice for most average customers.

Right now, only a handful of banks and credit unions offer unlimited reimbursement, and those that do might not have all the other offerings you’re looking for in a bank (like a competitive checking APY, a sign-up bonus, a leading mobile app or no overdraft fees). In that case, the next best thing is to look for banks that have a wide network of ATMs, specifically those that belong to interbank ATM networks like Allpoint, MoneyPass or STAR.

Some banks offer a hybrid scenario: large ATM networks plus some amount of ATM fee reimbursement (like one a month or up to $10 of fees reimbursed). Many of the financial institutions that make up our list above of the best banks for ATM fees offer some kind of hybrid solution.

The Best Strategies for Avoiding Bank ATM Fees

Banks charge a lot of fees, whether it’s a monthly maintenance fee, foreign transaction fee or overdraft fee (but hey, overdraft fees seem to be disappearing), but one thing your own bank has no control over is out-of-network ATM fees. Those are managed instead by an ATM owner.

So what are the best strategies for avoiding out-of-network ATM fees? We’ve got a few ideas:

1. Use Your Bank’s Mobile App to Locate In-Network ATMs

Your financial institution offers in-network ATMs that are free to use. Some banks just offer more than others.

Not sure where your bank’s own in-network ATMs are located? You should be able to launch your bank’s mobile app to find nearby locations. It might mean walking or driving a little farther out of your way to use your own bank’s ATM; determine if this added time is worth saving you the out-of-network ATM operator fee you’ll otherwise pay.

If you are unable to use your mobile app because of poor service, check the back of your ATM card. Many banks print the name of their network on the back of an ATM card. This can’t help you locate nearby ATMs but can at least show you which ATMs are in your network.

2. Use Grocery Store Cash Back

Many grocery stores and some gas stations offer cash back when you make a purchase with your debit card. Instead of spending $3 to $4 at an ATM just to withdraw cash, spend a buck on a pack of gum or buy something off your grocery list and select cash back at checkout. There should not be a fee for this.

3. Think Ahead During Your Next ATM Withdrawal

If you withdraw cash in small amounts every week or so, consider taking out a larger sum to reduce the amount of ATM fees you are paying. For example, instead of taking $60 out every week and paying $4 per ATM withdrawal, take $240 out at the start of every month and pay the $4 fee once. You’ll earn a little less interest that month for having less in the account, but it won’t come anywhere close to the money saved for reducing the ATM fees.

4. Pay with Card or Digital Wallet

The days of “cash is king” are numbered. As a result of the ongoing pandemic, many establishments have even stopped accepting cash. If your bank account offers a debit card or if you have a rewards credit card or digital wallet, consider making your purchases with those instead of cash.

5. Switch to a Bank or Credit Union That Helps You Avoid ATM Fees

Finally, and most importantly, if you regularly use an ATM and are tired of paying high ATM fees, switch to a bank that reimburses you or offers you more in-network ATM options. Frequent international travelers should prioritize banks that reimburse foreign ATM fees.

Timothy Moore covers banking and investing for The Penny Hoarder from his home base in Cincinnati. He has worked in editing and graphic design for a marketing agency, a global research firm and a major print publication. He covers a variety of other topics, including insurance, taxes, retirement and budgeting and has worked in the field since 2012.

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