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9 Banks With No Overdraft Fees

Review Updated
Ben Gran
By: Ben Gran
Ben Gran
Ben Gran

Ben Gran is a freelance writer based in Des Moines, Iowa. He has written for regional banks, fintechs, and major financial services companies. Ben is a graduate of Rice University.

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Our Banking Expert

Ashley Maready
Check IconFact Checked Ashley Maready
Ashley Maready
Ashley Maready
Writer and Editor

Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

Especially when money is tight before payday, the last thing you want is to be charged an extra fee by your bank account. Fortunately, many banks and credit unions in the past few years have eliminated overdraft fees.

Let's look at a few banks with no overdraft fees, and see how this big trend in banking could help you choose your next checking account.

What are overdraft fees?

Overdraft fees are a way for bank customers to keep spending, even if they run out of money in the checking account. Instead of having your check bounce or your debit card declined, an overdraft fee lets you keep using your debit card or checkbook to buy the items you need.

But overdraft fees are not popular, and they're not cheap. A typical overdraft fee might be $35 per transaction -- and many bank customers who pay overdraft fees earn lower incomes and are living paycheck to paycheck.

Banks with no overdraft fees

Several no overdraft fee banks now offer unique products and services to help customers bounce back from an overdraft, without the traditional $35 (or more) fees.

Many banks without overdraft charges also offer some of the best rewards checking accounts. Instead of charging extra fees to customers who don't have enough money, these banks can often help customers get extra money in the bank with checking account interest, cash rewards, and other perks.

Let's look at nine of the best checking accounts at banks with no overdraft fees.

Ratings Methodology
Rates as of Jun 28, 2024

SoFi Checking and Savings

Open Account for SoFi Checking and Savings
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Open Account for SoFi Checking and Savings
offer alert
Cash bonus up to $300 with direct deposit set up (see details when you click 'Open Account')
APY
0.50% Rate info Circle with letter I in it. You can earn the maximum savings APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. To Earn APY
$0
  • Competitive APY
  • FDIC insured (up to $2M with opt-in to SoFi Insured Deposit Program)
  • Welcome bonus up to $300
  • No monthly service or overdraft fees
  • Early access to direct deposits
  • Savings and investing tools
  • Wide range of financial products
  • Cash back on debit card purchases at select retailers
  • Combo account only; no stand-alone savings or checking
  • Overdraft protection tied to monthly deposit minimum
  • No local branches or in-person support

With no fees or minimums and tools designed to maximize your savings, the combo account is a good fit for individuals who want to do most of their banking in one place online. The account offers flexibility to access or move funds, especially if your employer's payroll system allows you to access the bank's early direct deposit benefit.

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What if your checking account could combine some of the best perks of a savings account and checking account, all in one place? That's the SoFi Checking and Savings account -- a unique hybrid account with no overdraft fees, 0.50% APY on checking balances, and other special benefits.

And you can get a limited-time welcome bonus of up to $300 when you open a new account with qualifying direct deposits.

Ratings Methodology
Rates as of Jun 28, 2024
Award Icon 2024 Award Winner

Discover® Cashback Debit

Open Account for Discover® Cashback Debit
Member FDIC.
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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Open Account for Discover® Cashback Debit
Offer alert
Earn 1% cash back on up to $3,000 in debit card purchases each month (see details when you click 'Open Account')
APY
0%
Min. To Earn APY
N/A
  • Cash back rewards on debit cards
  • Early direct deposit
  • No monthly maintenance, NSF, or overdraft fees
  • Great customer service
  • Cash back rewards capped
  • No interest-bearing checking account
  • No physical branches
  • No reimbursement for out-of-network ATMs

The Discover Cashback Debit account could be a lucrative option for those who frequently use their debit card. With cash back on eligible purchases, it's possible to earn even more than you could with a typical checking account APY without changing your habits at all. The fact that Discover has done away with many common checking account fees only adds to its appeal.

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This online checking account from Discover® Bank charges no overdraft fees, no non-sufficient funds (NSF) fees, or account maintenance fees. And you can get 1% cash back on up to $3,000 of eligible debit card purchases per month.

If you're comfortable doing all your everyday banking online, this is one of the best no-fee checking account experiences you're likely to find.

Ratings Methodology
Rates as of Jun 28, 2024
Award Icon 2024 Award Winner

Axos Bank Rewards Checking

Open Account for Axos Bank Rewards Checking
Member FDIC.
Rating image, 4.25 out of 5 stars.
4.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.25 out of 5 stars.
4.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Open Account for Axos Bank Rewards Checking
offer alert
Cash in on up to a $500 bonus† and up to 3.30% APY* with a new Rewards Checking account. Just use promo code RC500 before July 31.
APY
0.40% (up to 3.30%) Rate info Circle with letter I in it. To earn the full APY, account holders must do all of the following: Receive monthly direct deposits totaling more than $1,500; make 10 transactions a month with your Axos debit card, or sign up for Axos's Personal Finance Manager; maintain an average daily balance of $2,500 per month in an Axos Invest Self Directed Trading Account; and use your Rewards Checking account to make your full monthly Axos Bank consumer mortgage, personal, or auto loan payment.
Min. To Earn APY
Monthly direct deposits totaling at least $1,500
  • High checking account APY
  • Unlimited ATM fee reimbursements
  • No monthly maintenance, NSF, or overdraft fees
  • No monthly balance requirements
  • Cash back checking option
  • Must meet certain requirements to earn the highest interest tier
  • Low savings and CD APYs compared to competitors

A solid checking account with an APY that far outpaces the competition. The fact that it also has no maintenance fees and no overdraft or NSF fees are the cherries on top.

Rewards Checking disclosure:

To be eligible to earn all or a portion of the cash incentive as part of the promotional offer "RC500," an application for a Rewards Checking account must be submitted between 06/20/2024 at 12:00 am PT and 07/31/24 at 11:59 pm PT.

Axos Bank reserves the right to limit each primary account holder to one (1) checking account promotional offer per year. Promotional terms and conditions are subject to change or removal without notice. Incentive may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After initial requirements above are met, the amount of incentive earned will depend on meeting the additional requirements outlined below:

Rewards Checking bonus up to $500: You must be approved for your new Rewards Checking account and fund it within 60 days of account opening. An incentive of up to $500 can be earned during the first six (6) statement cycles, starting in the statement cycle thirty (30) days after the account is opened. A statement cycle is a calendar month consisting of at least one day your account was open during that month. You can earn a maximum of five (5) payouts during the six (6) statement cycles, and the incentive will be deposited into the qualifying account within 15 business days following the end of the statement cycle in which the requirements were met.

$100 will be earned for each statement cycle, up to $500, when you meet two requirements during that statement cycle: 1) your Rewards Checking account receives qualifying direct deposits at least $1,500.00 in total, and 2) the average daily balance in your Rewards Checking account is at least $3,000.

Your Rewards Checking account must remain open and in good standing at the time the incentive is paid to be eligible.

A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, Disability etc. Other deposits (i.e., online banking transfers, ATM and mobile check deposits, etc.) or person-to-person payments are not considered a direct deposit. Account transactions may take one or more business days from the transaction date to post to the account.

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Along with no overdraft fees, Axos Bank Rewards Checking actually pays interest on the money in your checking account. With this Axos Bank checking account, you can earn 0.40% (up to 3.30%) APY if your account activity meets certain requirements.

Ratings Methodology
Rates as of Jun 28, 2024

Quontic High Interest Checking

Open Account for Quontic High Interest Checking
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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Open Account for Quontic High Interest Checking
High APY when you complete 10 or more qualifying debit card purchases each month
APY
up to 1.10%
Min. To Earn APY
$1
  • High checking APY
  • One of the highest APY for CDs and savings account
  • No monthly fees, overdraft, or NSF fees
  • Comes with a debit card
  • Large fee-free ATM network
  • Quontic Pay Ring: the nation's first wearable payment ring
  • Must meet monthly transaction requirements to earn higher interest tier 
  • Limited CD terms
  • No physical branches

Quontic High Interest Checking earns one of the highest APYs among checking accounts. Unfortunately, you must make 10 qualifying debit card purchases of $10 or more each statement cycle to earn the highest interest tier. Still, the account is a good option to maximize savings beyond other deposit accounts. Plus, it has no monthly fees and access to fee-free ATMs.

10 debit card point of sale transactions of $10 or more per statement cycle required to earn the maximum APY. If the qualifying activity requirement is not fulfilled, the interest rate paid on the entire balance will be 0.01% APY.

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This Quontic checking account gives you no overdraft fees, no NSF fees, no monthly service fees -- and access to more than 90,000 no-fee ATMs. It also pays up to 1.10% APY if you meet monthly debit card transaction requirements.

Ratings Methodology
Rates as of Jun 28, 2024

Chime Checking Account

Open Account for Chime Checking Account
Member FDIC.
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Open Account for Chime Checking Account
APY
0%
Min. To Earn APY
$0
  • Get direct-deposited funds up to two days early
  • Get instant paychecks with MyPay
  • No monthly maintenance or overdraft fees
  • No minimum balance requirement
  • No foreign transaction fees
  • No ChexSystems check to open an account
  • Free peer-to-peer (P2P) payments
  • Overdraft up to $200 without fees with SpotMe
  • Must open a checking and savings account together
  • No physical branch locations
  • Mediocre customer service

Chime Checking is a fee-free account that makes it easy to get paid early. It's a great option for folks worried about getting hit with surprise fees -- Chime has none of those. It's a great checking account for beginners wanting simplicity.

Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank or Stride Bank, N.A.; Members FDIC.

*Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

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Chime is a fintech company that offers banking services through its bank partners. The Chime Checking Account has no overdraft fees, and offers a special service called SpotMe that will cover up to $200 of overdrafts.

And you can open this Chime account with no ChexSystems check, in case you need a fresh start after previous bad experiences with bank accounts.

Ratings Methodology
Rates as of Jun 28, 2024

Alliant High Rate Checking

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Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
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Read Review
APY
0.25%
Min. To Earn APY
$1
  • No monthly fees or overdraft fees
  • No monthly minimum balance requirements
  • Network of 80,000 ATMs
  • Reimburses up to $20 ATM fees
  • No monthly fees, overdraft fees, and no monthly minimum balance requirements
  • No physical branches
  • Higher APY available at other financial institutions
  • Need to meet certain requirements to receive the dividend

Alliant is an online-only credit union based out of Chicago; however, anyone can qualify for membership. There is no monthly maintenance fee, no overdraft fees, and no monthly minimum balance requirement. To qualify for the high-yield account, you only need to meet two monthly requirements. It's not a bank, so it's not a member of the FDIC, but Alliant accounts are federally insured through the National Credit Union Administration.

This checking account from Alliant has no overdraft fees, no monthly service fees, and it reimburses ATM fees up to $20 per month.

And the Alliant High Rate Checking account pays 0.25% APY on cash, with no minimum balance and just $1 required to earn that APY.

Ratings Methodology
Rates as of Jun 28, 2024

Ally Spending Account

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Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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Read Review
APY
up to 0.25%
Min. To Earn APY
$1
  • Strong online and mobile tools
  • No monthly maintenance or overdraft fees
  • Monthly ATM fee reimbursements
  • Competitive APY
  • Early direct deposit
  • Higher APY available at other financial institutions
  • No physical locations
  • No cash deposits

The Ally Spending Account is an appealing option for those who are comfortable managing their money online. Its monthly ATM fee reimbursements give you the freedom to access your cash wherever you need to. That, plus its APY, means you should only make money with this account.

The Ally Spending Account is a unique online-only checking account that charges no overdraft fees and no monthly account maintenance fees.

Ally also reimburses up to $10 of ATM fees per statement cycle. And this checking account earns interest: up to 0.25% APY.

Ratings Methodology
Rates as of Jun 28, 2024

Capital One 360 Checking

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Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
0.10%
Min. To Earn APY
$1
  • Branches and Capital One Cafes in some states
  • Variety of accounts
  • Robust digital platform and app
  • Great customer service
  • Higher APY available at other financial institutions

Capital One boasts a top-rated mobile app and has over 70,000 fee-free Capital One, MoneyPass, and Allpoint ATM locations. For those looking for face-to-face interaction, Capital One has over 450 locations and 50 Capital One Cafes, where customers can bank, get a cup of coffee, and ask for advice from a certified money coach. However the APY is lower than other online banks.

This checking account has no overdraft fees, no minimum balance requirements, and no foreign transaction fees -- making it a good choice if you want to use your debit card during international travel.

With Capital One, you get 70,000 fee-free ATMs and in-person service at bank branches and Capital One Cafes.

Ratings Methodology
Rates as of Jun 28, 2024

EverBank Performance℠ Checking

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Member FDIC.
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
0.40%
Min. To Earn APY
$0
  • Earns APY
  • Monthly ATM fee reimbursements
  • Purchase protections for debit cards
  • Higher APY available at other financial institutions

The EverBank Performance℠ Checking is a great fit for those who want no monthly fees. While those with larger balances will benefit the most from this account, just about everyone will appreciate the rare debit card protections and ATM fee reimbursements many other online checking accounts skip.

This checking account charges no overdraft fees if you make transfers from a linked EverBank savings account. It also has no NSF fees and no monthly maintenance fees, and pays 0.40% APY.

Tips for avoiding overdraft fees

If you don't want to use one of the best no-fee checking accounts, you can use some of these easy tips to manage your account and avoid overdraft fees:

  • Check your account balance regularly
  • Set up alerts and notifications from your bank
  • Open a linked savings account
  • Open a linked credit card
  • Use budgeting apps to track your spending

Bottom line

Overdraft fees may not entirely go away at all banks, but they are becoming less common and less costly. More banks are cutting back on overdraft fees and non-sufficient funds (NSF) fees. Some banks are still charging these fees, but at lower dollar amounts. Other banks' checking accounts (like the ones on this list) do not charge overdraft fees at all.

The only note of caution: watch out for some checking accounts that decline your transactions instead of charging an overdraft fee. Read the fine print on your checking account to make sure you understand what happens in case you hit a zero balance.