Looking for a Free Checking Account?
Make Sure You Clarify the “Free” in Free Checking Account When Opening One
Getting a free checking account is not a difficult to feat to accomplish. However, finding a free checking account that really is “free” can be another matter altogether. While many banks offer free checking accounts nowadays, some of them also feature a variety of hidden charges. If you want a truly “free” checking account, there are some things you need to look for.
Important Features to Consider
When opening a free checking account, find one that doesn’t require the maintenance of a minimum balance and look for accounts that offer a free debit card. A debit card and no minimum balance requirement will make your checking account very convenient for you.
Look Out For Fees
If you are paying a fee for writing more than a certain number of checks each month or you are required to maintain a specific minimum balance, then your checking account is not actually free. Fees are like fleas, they tend to multiply. Certain free checking accounts also charge you money when taking cash out of another bank’s ATM, talking with a teller or personal banker or signing up for online banking . Consider this when you are choosing which free checking account meets your needs and always take an in-depth look at the fees a bank will charge prior to making a final decision.
Like we discussed, there are banks that charge a fee if you take cash out of another bank’s ATM. There are also some banks, however, that also charge money for taking cash out of their own ATMs. On the other hand, there are banks who will let you take money out of any ATM for free and some may even offer a deal where they will reimburse you for the money charged by other ATM machines so all withdrawals are free, regardless of which ATM you use. Double check the details of your free checking account offer in order to determine their exact ATM fee policies.
Finding a truly free checking account that will fit your needs doesn’t have to be a mind-boggling dilemma. Many banks offer no-fee checking accounts, so shop around before making your final decision. With some persistence, you can easily find a free checking account that offers everything you need.