This article is sponsored by Midland States Bank, and the information provided is for educational purposes only. Please verify current rates, fees, and terms directly with each institution.
Everyone should be able to maintain a bank account without paying excessive fees.
Many reputable, customer-focused banks now offer low- or no-fee checking accounts for residents of Illinois. If you’re considering switching to a more affordable option, below are some of the best banks in Illinois for low-fee checking accounts.
What Is Considered a Low Fee for a Checking Account?
Checking accounts can include several types of fees.
The most common is the monthly service fee, usually charged simply for keeping an account open. ATM fees differ by bank—some banks charge a flat fee, others charge none, and a growing number reimburse fees incurred at out-of-network ATMs. Overdraft and nonsufficient funds (NSF) fees are major penalties if your balance goes below zero.
Rates and fees change over time. As of November 2025, these were average U.S. fees according to a national survey:
- Monthly service: $5.47
- Overdraft: $26.77
- Nonsufficient funds: $16.82
- ATM: $4.86
New banking trends are reshaping the landscape. Online-only banks often have lower or no service fees, while interest-bearing checking accounts may carry higher maintenance charges. At the same time, many customers still prefer traditional banks with physical branches.
A bank with fees below these averages would generally be considered low-fee. Below are notable options for Illinois residents seeking affordable checking accounts.
1. Midland States Bank
Midland States Bank offers competitive, customer-oriented checking options designed to fit different lifestyles.
It provides three completely free checking accounts, and another account that earns interest when you arrange direct deposit. A high-yield checking option is available with a modest $10 fee if the balance drops below $1,500. Midland is known for its community focus and broad range of services, from mortgages to treasury management.
Customers often praise Midland’s personalized service. One customer said, “Everyone at Midland treats me like a long-time friend. Whenever I need help, they go the extra mile. When I come in, they greet me by name, making me feel like a valued and special person.”
2. Fifth Third Bank
Fifth Third Bank has many branches across Illinois, including in Elmhurst and Chicago. Its Momentum checking account is fee-free, while other accounts can have fees waived by meeting minimum balance or direct deposit requirements. It also offers special accounts for students and military families and is often recognized for its robust mobile app.
The bank emphasizes financial education and support. A customer commented, “Fifth Third helped us every step of the way, making sure we can be there for the women we help.”
3. First Mid Bank & Trust
First Mid Bank & Trust provides a wide selection of checking accounts, many of which can be opened online while still offering in-person branch support. Several accounts waive ATM fees entirely, and some eliminate overdraft fees. Maintenance fees that do apply are often avoidable by keeping a minimum balance or signing up for electronic statements.
First Mid has earned recognition for its service, including awards from national publications. The bank credits such accolades to its consistent dedication to customers and to delivering practical financial solutions.
4. Regions Bank
Regions Bank continues to grow in Illinois, particularly in the southern region, and offers a variety of checking accounts designed for families, retirees, and individuals. Many accounts come with low fees or ways to have fees waived, and the bank places a strong emphasis on financial education and outreach.
Regions has received industry recognition for reputation and innovation, reflecting its focus on improving customer service and developing new solutions for banking needs.
5. Banterra Bank
Banterra Bank is a locally owned institution focused on delivering a straightforward, community-minded banking experience across Illinois. It offers low-fee checking accounts and specialized mortgage support for home and small-business buyers. Over its more than 50 years of operation, Banterra has contributed to local charities and community causes.
Clients appreciate Banterra’s community involvement. One customer shared, “The sense of community within Banterra is unmatched. I’ve participated in group outings, fundraisers and other activities with Banterra and it’s not every day that people can say that about their bank. They truly seem invested in the local community and their customers.”
How the Contenders Were Chosen
Low fees are important, but quality banking involves more than price. These institutions were highlighted because they combine affordability with other strengths commonly associated with reliable banks:
- Personable customer service: Staff who are solution-oriented and attentive to diverse banking needs.
- Community focus: A demonstrated commitment to tailoring services to local residents and supporting community initiatives.
- Modern approach: Embracing digital banking, security improvements, and innovation to keep services current.
- Variety of account options: Offering multiple checking choices to fit different financial situations and preferences.
- Educational resources: Providing tools, guidance, and outreach to improve customers’ financial knowledge.
What Are the Best Banks for Low-Fee Checking Accounts in Illinois?
If you prefer a branch-based banking experience but want to avoid high fees, the institutions above are strong options for Illinois residents. Most make it straightforward to switch accounts, and their customer service can help ensure a smooth transition. By moving to a low-fee checking account, you can reduce monthly costs and keep more of your money working for you.