Do free checking accounts still exist?

It is getting much harder to find free low balance checking in the era of new banking regulations but they do still exist. You just have to know where to look.

Online banks. Banks like AllyBank.com and ingdirect.com offer checking accounts with no minimum balance and no monthly fees.

Local banks. I checked with a few of my local banks and none of them charge a monthly fee for a checking account nor do they require a minimum balance.

Credit Unions generally do not have minimum balance requirements or monthly service fees.

High Balance Relationship Accounts. Many of the larger banks like Chase offer relationship banking. How these accounts usually work is that if you maintain a certain amount of money (usually $25,000 or more) in your accounts at the same financial institution they will waive the monthly service charges and the minimum balance requirements for your checking account.

Special Accounts. Some banks offer free checking accounts to students and seniors but generally these accounts require that you maintain a minimum balance or enroll in direct deposit to avoid a monthly fee.