A major part of financial empowerment is knowing how much you have, how to make it grow and how to keep it. Paying a ton of bank fees would not be congruous with those goals. That’s where free online interest checking accounts come in. They are one way to passively grow your money. Sure the rates are less impressive these days, but just think of all the money you will save on the fees usually charged by big banks.

Lately we’ve been inundated with increased fees from larger banks, but there are legitimate alternatives. The recent plan to attach a $5 fee on debit cards prompted hundreds of thousands of customers to flee to credit unions, and online banks. The proposed fees were later abandoned, but only after the public relations nightmare. I am still at a big bank, but I’ve also opened a checking account with one of the FDIC insured online banks.

Today I will outline three free online checking account options that can fit most of your needs. They are Ally Interest Checking Account, ING Electric Orange Checking and PerkStreet Financial. Each offer free online pay bill and free acess to at least 35,000 ATMs nationwide.

Ally Interest Checking Account allows you to open a free interest checking account with no minimum amount. They have 35,000 ATM’s nationwide, and will reimburse you any fees charged. Did I mention Ally also has unlimited free checks, and there are no monthly charges. You will have access to a representative 24 hours a day.

ING Electric Orange Checking also has interest-free checking that includes a free debit card. You get 50 checks at $5, and you have no minimum balance requirement. If that were not enough, they will give you $50 for opening an account (once certain requirements are met.) This is a great option for those interested in buying stocks because of ShareBuilder, their investment arm.

PerkStreet Financial is a great option for one who makes a lot of purchases with their free debit card because it offers cash back rewards of up to 2% for qualified purchases. There is also a 5% cash back bonus on various categories and merchants . You open this account with $25, but are not subjected to any minimum balance requirements. They also provide you with free checks.