Does Bank of America have free checking?  

Technically, no. Bank of America’s checking accounts are only “free” if you meet certain qualifications. Again, to avoid Bank of America’s Advantage Plus accounts’ $12 monthly maintenance fee, you’ll have to meet one of several requirements, such as maintaining a $1,500 daily minimum balance.

Albert checking accounts at a glance

Albert is an online financial service, not a traditional bank. Still, deposits are FDIC-insured — and Albert has a feature than can help you manage your money across multiple bank accounts and track your spending and bills.

Does Albert give you money?

You have the potential to earn cash-back rewards on certain purchases with your Albert debit card. For example, you may get money back when you use your card to buy groceries, coffee or gas at certain places.

Keep in mind that, if available, you’ll have to activate this feature and you can only choose one offer at a time.

SoFi Checking and Savings isn’t a bank account — it’s a brokerage account. But your deposited funds are FDIC insured once it reaches SoFi’s program bank.

The financial tech company also offers a number of other financial products, including investment accounts, student loans, personal loans and mortgages. It’s known for its member perks, which include career coaching, exclusive events and discounts on estate planning.

Is an online bank right for me?

An online bank can be a good choice for people who don’t need to go in and talk with a banker face to face. As with many other online banks, this isn’t an option with SoFi. You also have to be comfortable with cashing checks by scanning them with an app or using direct deposit.

Not sure if SoFi is right for you? Consider an alternative

• Ally checking: This online bank may be a good choice if you want some of your out-of-network ATM fees reimbursed.