Finding the best free banks in Illinois depends on your banking needs. Whether your priority is interest-bearing checking accounts, high-yield savings, a variety of banking products, digital banking or physical branches, there is a bank in Illinois that can meet your requirements.
However, if you’re unable to open a checking account due to ChexSystems or Early Warning Services (EWS) records, we also compiled a list of second chance banks in Illinois that offer an opportunity to build a new banking history. Keep in mind there will likely be a monthly service fee associated with second chance banking accounts.
10 Best Free Banks in Illinois
1. Consumers Credit Union
Consumers Credit Union is a credit union based in Illinois with membership open to anyone regardless of where they live or work. Financial products and services include checking, savings, CDs, personal, auto and mortgage loans, small business banking, investments and financial education. The monthly free checking account is called Rewards Checking with the following features:
- Unlimited reimbursement for any and all ATM fees**
- Over 30,000 ATMs & over 5,000 shared branches
- Online & mobile banking plus bill pay
- Get paid as much as two days early with early direct deposit**
- No monthly maintenance fees, for anything
2. Upgrade Rewards Checking Plus
The Upgrade Rewards Checking Plus is best for debit card spending. Customers get up to 2% cash back on common everyday expenses for active accounts with a monthly $1,000 direct deposit 1 plus many features including the following:
- $0 Minimum Opening Deposit.
- Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases2.
- Optional savings account that earns 5.21% APY3.
- Customers with direct deposit can get paid up to two days early4.
- No monthly fees, no overdraft fees5, and get reimbursed for ATM fees with an active account.
- FDIC-Insured Up to $250,000.
Upgrade is a financial technology company, not a bank. Checking and savings accounts provided by Cross River Bank, Member FDIC.
3. SoFi Bank
SoFi Bank is a bank headquartered in California with membership open to anyone regardless of where they live or work. Financial products and services include checking, savings, personal, student and mortgage loans, investments and retirement planning. The monthly free checking account is combined with savings account with the following features:
- $100 Minimum opening deposit.
- Welcome Bonus up to $250 when you set up direct deposit.
- Get paid up to 2 days early with direct deposit.
- 55,000+ fee-free ATMs within the Allpoint® Network.
- Members with direct deposit can earn 4.50% APY on their savings and Vaults balances, and 1.20% APY on their checking balances.
- Deposits are insured up to $2M through a network of participating banks.
4. OneUnited Bank
OneUnited Bank’s Online Checking Account is a free checking available to people in ALL STATES. OneUnited Bank is a Black-Owned Bank that offers the Black Wall Street Checking account with no monthly fee. If you’re looking for second chance banking options, OneUnited Bank’s U2 E-Checking Account is available but it has a monthly fee of $12. With OneUnited Bank customers can add cash to the OneUnited Bank Debit Card at over 90,000 locations across the country through a partnership with Green Dot®.
Here are the checking account features:
- $25 minimum opening deposit
- No monthly fee.
- Get paid up to 2 days early with early direct deposit.
- Free Online & Mobile Banking.
- Obtain Cash, Surcharge Free at Over 35,000 ATMs Nationwide.
- Deposit checks through the mobile app.
- Free Bill Pay
5. BMO Harris Bank
BMO Harris Bank is a well-established financial institution with over 500 branches across U.S. and access to over 40,000 ATMs. As the 8th largest bank in North America by assets, BMO Harris Bank has $852 billion in total assets. Financial products and services include checking, savings, CDs, personal, auto and mortgage loans, HELOCs, small business banking, investment and retirement accounts. The monthly free checking account is called Smart Advantage Account with the following features:
- $25 Minimum Opening Deposit
- Unlimited Transactions at 40,000+ fee-free ATMs nationwide
- $0 Monthly maintenance fee
- BMO Digital Banking – pay bills, transfer money and more
6. Simmons Bank
Simmons Bank is a regional bank that is headquartered in Pine Bluff, Arkansas, with over 200 branches located throughout Arkansas, Colorado, Illinois, Kansas, Missouri, Oklahoma, Tennessee, and Texas. The bank was founded in 1903 as a small community bank in Pine Bluff, and it has since grown to become one of the largest banks in the region. Simmons Bank offers a wide range of banking and financial services, including personal and business banking, lending, wealth management, and investment services. The monthly free checking account is called Simply Checking with the following features:
- $50 Minimum Opening Deposit
- Debit card, online and mobile banking, and online bill pay
- $0 Monthly maintenance fee
- 24-hour telephone banking
7. First Bank of Chicago
First Bank of Chicago First Bank Chicago is one of the top five privately held banks in Chicago. For over 40 years, the bank has provided customers a wide range of products and services, including checking and savings accounts, loans, mortgages, and investments. The Free Checking Account has the following features:
- $100 Minimum Opening Deposit.
- No minimum balance to maintain.
- No monthly fee.
8. First Bank
First Bank is an independent family-owned bank that focuses on clients’ long-term goals and objectives, as opposed to only focusing on our short-term gains. Financial products include checking, savings, personal, car and mortgage loans, investment and retirement services. The Free Checking Account has the following features:
- $25 Minimum Opening Deposit.
- Build up your funds with this interest-bearing account.
- Avoid check-cashing fees.
- Deposit checks in minutes using your smartphone camera and our mobile app.
- No monthly service charge.
9. Carrollton Bank
Carrollton Bank is a community bank with locations in Illinois and Missouri. It was founded in 1889 and is headquartered in Carrollton, Illinois. The bank has assets of over $1 billion and employs over 200 people. Carrollton Bank offers a variety of financial products and services, including checking and savings accounts, loans, mortgages, and investments. The Totally Free Checking Account has the following features:
- $25 Minimum Opening Deposit
- $0 Monthly maintenance fee
- Free Online and Mobile Access with Bill Pay
10. Illinois Bank & Trust
Illinois Bank & Trust, a division of HTLF Bank is a community bank that has been serving the financial needs of individuals and businesses in central Illinois for over 100 years. The bank was founded in 1919 and is headquartered in Decatur, Illinois. It has 14 full-service banking centers and 25 ATMs located throughout central Illinois. The bank offers a wide range of financial products and services, including checking and savings accounts, loans, mortgages, and investments. The Free Checking with eStatement has the following features:
- $25 Minimum Opening Deposit
- $0 Monthly maintenance fee
- Free Online and Mobile Access with Bill Pay
Second Chance Banks in Illinois
Armed Forces Bank
The Safe Spending Account requires a $25 opening deposit and a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
CBI Bank & Trust
The Bank On Checking Account requires a $25 opening deposit and a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
CIBC Bank USA
The EasyPath Access Account requires a $50 opening deposit and a $0 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
First American Bank
The Fresh Start Checking Account requires a $50 opening deposit and a $9.95 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
First Financial Bank
The NoWorry Checking Account requires a $25 opening deposit and a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
First Merchants Bank
The First Merchants Simple Access Account requires a $0 opening deposit and a $4 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
First National Bank and Trust Company
The Renew Checking Account requires a $25 opening deposit and a $15 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Marquette Bank
The ReStart Checking Account requires a $20 opening deposit and a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Merchants and Manufacturers Bank
The Green Choice Checking Account requires a $5 opening deposit and a $2 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Old National Bank
The ONB EZ Access Account requires a $10 opening deposit and a $5.05 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Providence Bank & Trust
The Neighborhood Connect Banking Account requires a $25 opening deposit and a $7.95 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Reading Cooperative Bank
The Honest Checking Account requires a $10 opening deposit and a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Regions Bank
The Regions Now Checking Account requires a $10 opening deposit and has a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Reading Cooperative Bank
The Honest Checking Account requires a $10 opening deposit and a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Wintrust Community Bank
The Money Smart Checking Account has a minimum opening deposit of $0 and the monthly service fee is $5.00.
Second Chance Credit Unions in Illinois
Catholic & Community Credit Union
The Rebound Checking Account requires a $5 opening deposit and has a $7.50 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Great Lakes Credit Union
The Fresh Checking Account requires a $25 opening deposit and has a $0 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
KCT Credit Union
The Worry-free Checking Account requires a $25 opening deposit and has a $1 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Self-Help Federal Credit Union
The Access Checking Account requires a $0 opening deposit and has a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
SIU Credit Union
The Rebound Checking Account requires a $25 opening deposit and has a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Staley Credit Union
The Renew Checking Account requires a $50 opening deposit and has a $7 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Vantage Credit Union
The Vantage Checking Account requires a $5 opening deposit and has a $0 monthly service fee with estatements. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Illinois Unbanked Numbers
According a Federal Deposit Insurance Corporation (FDIC) 2021 Survey, 4.4% of Illinois’ residents were unbanked. Illinois ranks moderately in unbanked households in America. It’s estimated that unbanked people pay up to 10% of their salary for check cashing services. Being unbanked makes it almost impossible to perform common financial transactions without paying some type of fee unlike people with free checking accounts.
ChexSystems Resources
- Banks That Don’t Use ChexSystems – Take a look at our list of banks that do not use ChexSystems for a new checking account.
- EWS (Early Warning Services) – EWS is similar to ChexSystems and can prevent you from opening a checking account.
- Check your ChexSystems Report – Unsure what information exists in your ChexSystems report? Learn how to find out.
- ChexSystems Scores – Did you know that you have a ChexSystems score similar to a credit score? Find out how to get yours.
- Account Abuse – Find out why ChexSystems often reports customers for account abuse with no real explanation of what that notation means.
Upgrade Disclaimers
1 Active Accounts with a monthly direct deposit of $1000 are eligible for additional benefits on Rewards Checking Plus such as additional cash back rewards, ATM fee reimbursement, and more. See the Active Account page for more information.
2 Rewards Checking Plus customers who set-up monthly direct deposits of $1,000 or more earn 2% cash back on common everyday expenses at convenience stores, drugstores, restaurants and bars – including deliveries – and gas stations, as well as recurring payments on utilities and monthly subscriptions including phone, cable, TV and other streaming services, and 1% cash back on all other debit card purchases. 2% cash back is limited to $500 in rewards per calendar year; after $500, customers earn 1% cash back on all eligible debit card purchases for the remainder of the year. Rewards Checking Plus accounts with less than $1,000 in monthly direct deposits 60 days after account opening will earn 1% cash back on common everyday expenses and 0.50% cash back on all other eligible debit card purchases. Some limitations apply. Please refer to the applicable Upgrade VISA® Debit Card Agreement and Disclosures for more information.
3 The 1.5% Annual Percentage Yield (APY) for the Performance Savings account is effective as of June 1, 2023. The APY for the Performance Savings account is variable and may change at any time. Active Accounts qualify for 5.21% APY with monthly $1000 direct deposit. The APY for Active Accounts is effective as of September 1, 2023, is variable, and may change at any time. Please refer to the applicable Cross River Bank Performance Savings Deposit Account Agreement and Truth in Savings Disclosure. To earn APY, you must open and fund a Performance Savings account. Rewards Checking Plus accounts do not earn APY.
4 Early direct deposit requires set up of recurring electronic direct deposit from your employer, payroll, or benefits provider and is limited to direct deposits under $5000. Early access to direct deposit funds depends on the timing in which we receive notice of impending direct deposit, which is generally up to two days before the scheduled deposit date.
5 There are no overdraft fees or annual fees associated with Rewards Checking Plus accounts. Rewards Checking Plus charges no ATM fees, but third-party institutions may charge you a fee if you use their ATM/network or if you use your Upgrade VISA® Debit Card internationally. For Active Accounts, Upgrade will rebate ATM fees charged by another institution for debit card withdrawals in the United States, up to five times per calendar month. To be eligible to receive third-party ATM fee rebates in any calendar month for eligible ATM withdrawals made during that month on a Rewards Checking Plus account, the account must be an Active Account in the prior calendar month. See the Active Account page for more information. As a courtesy to new customers, Upgrade will provide third-party ATM fee rebates for 60 days after account opening regardless of account user status. Some limitations apply. Please refer to the applicable Cross River Bank Checking Deposit Account Agreement and Upgrade VISA® Debit Card Agreement and Disclosures for more information.
