How To Find A Free Checking Account
Posted on: 5 November 2020
Banking products are always changing to provide the best services they can to their members. It is common for members over time to need to apply for credit cards, certificates of deposit, or mortgages with the banks that already hold their checking accounts. If you find that you are paying too much in annual fees, loan interest, or other banking fees for your checking account, you may want to look for a free checking account. Here are a few tips to find a free checking account.
Discounts
Depending on what you have going on in your life, you can find all types of discounts that will be useful when creating anew checking account. Students of all ages who can show proof of enrollment quality for discounted student rates. Students who attend college or university courses full-time or part-time may be able to receive a completely free checking account. Some banks offer a free checking account for new or existing clients that can maintain a certain daily balance. If the account for any reason dips below this minimum balance, a monthly fee will apply.
Direct Deposits
Maintaining a direct deposit from any source is a great way to add funds to your bank account. Many banks actively go to certain employers and will offer a free checking account to employees if they deposit a certain amount each month. Current employees do not always know about perks that are available with local banks through agreements their employers have made. Reaching out to the bank and asking if a discount or a free checking account is available can tell you more about what agreements your employer might have with a certain bank.
Check For Fees
Alumni associations, teachers, police, firefighters, and other public servants may be offered similar discounts. Many people have multiple checking accounts for different purposes. When selecting a bank for a new account, always read the details for other fees. The terms of the checking account will reveal fees for using nonparticipating ATM machines for cash, non-sufficient fund fees, and costs for using the account while traveling outside of the country. Some banks no longer have fully staffed branches that are open to the public but have lower fees for their members. Reach out to the bank before deciding on a free checking account to see what support features are available by phone and online.
Use these tips when setting up one or multiple personal checking accounts. For more information about setting up a checking account, reach out to a local bank.
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