What Are the Best Banks for Low-Fee Checking Accounts in Illinois?

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.

People should be able to have a bank account without being charged exorbitant prices.

The most reputable and customer-focused institutions have low- to no-fee structures to help those in the Prairie State. If you want to switch to a more affordable option, these are some of the best banks for low-fee checking accounts in Illinois.

What Is Considered a Low Fee for a Checking Account?

Checking accounts can have several charges associated with them.

The most common are service fees, which are typically billed to customers monthly for merely having an active account. ATM fees vary by bank. Some have flat rates, while others have none. More are adopting reimbursement policies for these charges. Finally, overdraft and nonsufficient funds fees are the other primary penalties if your account dips below zero.

Rates and fees for accounts are subject to change. However, as of November 2025, these are the average fees in the U.S.:

• Monthly service: $5.47
• Overdraft: $26.77
• Nonsufficient funds: $16.82
• ATM: $4.86

Other trends, such as the emergence of exclusively online banks, are also altering the financial landscape. Service charges may be higher if the checking account earns interest, while a bank without physical branches may not charge service fees at all. However, many people still crave a traditional banking experience.

Banks with charges below these averages would be considered low-fee. What does that imply for your local options as an Illinois resident?

1. Midland States Bank

Midland States Bank has some of the most competitive options, including a low-fee checking account tailored to your lifestyle.

It has three that are completely free, with another eligible for interest if you set up direct deposit. A high-yield checking account is also available, with only a $10 fee if the balance falls below $1,500. It is known for its ability to build community, alongside providing expert assistance with everything from mortgages to treasury management. 

Customers who use Midland States Bank like their personal approach and authenticity, with one saying, “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 locations throughout the state, including in Elmhurst and Chicago. Its Momentum checking account is fee-free, with its other options requiring minimum balances to have them waived. There are also special deals for students and military families. Additionally, Fifth Third is recognized for having one of the best banking apps in the region.

The staff is dedicated to their customers and providing them with financial education to promote equity. One client said, “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 has a catalog of checking accounts that is greater than most. You can open almost all of them completely online, while getting the advantages of its many in-person branches. Several options completely waive ATM fees, while others even nix overdraft fees. Other accounts have maintenance charges, though all of them are waivable if you maintain a minimum balance or sign up for electronic statements. 

The institution has received numerous accolades, including honors from Newsweek in 2021 for being one of America’s Best Banks. The CEO summarized how it received the recognition, saying, “… this recognition reflects our long-standing commitment to our customers and communities. We will continue to strive to deliver exceptional customer service and provide the products and solutions that are needed to help our customers with their financial needs and goals.”

4. Regions Bank

Regions Bank is expanding, especially in the southern part of the state, and has many options for checking accounts. Everyone, from families to retirees, can have a personalized solution with minimal fees associated with it. It is unique due to its commitment to education, providing outreach to individuals seeking to enhance their financial literacy. 

Testimonials and awards validate the bank’s operational excellence. It was recognized by American Banker as one of the Top Banks by Reputation in 2025. It was also acknowledged by Fortune as one of America’s Most Innovative Companies, demonstrating that its staff are committed to the betterment of its customers.

5. Banterra Bank

Banterra Bank is a locally owned bank with branches committed to providing Illinois residents with the most straightforward banking experience possible. In addition to low-fee checking accounts, it has specialized support for mortgage lending, whether you are looking for a home or need an office for a small business. It has given to local charities over its 50 years of operation. 

Customers appreciate this giving attitude, with one saying, “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

Quality banking experiences are a culmination of more than affordable rates. These competitors rank highly because they have additional qualities associated with dependable, reputable financial institutions. They include:

• Personable customer service: Employees are solution-oriented and empathetic to diverse banking needs.

• Community-focused approach: The company is committed to tailoring its services and accounts to the needs of residents.

• Modern perspective: Banks should experiment and embrace innovations like digital banking and enhanced security to prevent services from becoming antiquated. 

• Many account options: A wide range of account options demonstrates the bank’s understanding that there is no one-size-fits-all solution for financial management.

• Educational opportunities: Whether through consultations or online resources, the best services try to make their customers more financially savvy.

What Are the Best Banks for Low-Fee Checking Accounts in Illinois?

If you want a brick-and-mortar banking experience while avoiding high charges, these are some of the best options for customers in the state.

It is becoming easier to switch institutions, and with quality customer service from each of these locations, you will be able to transition smoothly. Then, you can watch the savings pile up in your checking account.