Consider A Free Checking Account

Reading the current article top to bottom will give you an excellent understanding of this topic.

Free checking is a must for most people when they are trying to decide on a bank. As we no longer use cash as much as we once did, the days of withdrawing money from the bank to last you a week or longer are gone. Nowadays, we can average one or two transactions a day as part of routine shopping, dining and paying bills. All of these transactions mean fees, which can add up to a significant amount of money each month. With a service like free, no-charge checking, these fees can be reduced or even completely eliminated.

Why do banks offer free, no-charge checking? It's part of their top banking sales pitch. You are more likely to be interested in signing up with a bank that offers you something free, especially if it will reduce the service charges that most of us want to avoid. Once the bank has a client, then they can make recommendations and promote different services and money management programs that they have to offer, which is largely where the bulk of a financial institution's money is made.

Free checking comes with different ways to save money on fees, and usually all that is required is the presence of a certain amount of money in your checking account. This is the same regardless if you are dealing with online checking accounts or an account in a traditional bank. The amount of money required to maintain free, no-charge checking is different from bank to bank but the services that come with it are usually the same, such as unlimited transactions using your ATM card, a certain amount of free checks, as well as other service charges that can be waived as well.

So what is the downside, you may ask? As mentioned, you usually need to maintain a certain amount of money in the account in order to continue to receive free, no-charge checking. If you need to dip into that account, then service charges will start popping up. Also, a checking account usually does not earn any interest, which is the tradeoff for the absence of service fees. Since a high interest savings account is a rarity these days, this may not be an issue.

A free checking account is probably the best way to go for someone who has good money management skills and is able to maintain the necessary level of funds. For people who tend to use their ATM card a lot and rack up numerous transactions each month, a checking account with no service fees is a good idea as well. Do your research and talk to different banks, especially ones that offer personal online banking in order to make the best decision for your needs.

That's this article why not check out another for more great reading.

Online Banking News:
SunTrust and eBillme Reveal New Revenue Opportunities with Alternative Payments - MarketWatch (press release)

SunTrust and eBillme Reveal New Revenue Opportunities with Alternative Payments
MarketWatch (press release)
Attendees will have the opportunity to hear how SunTrust tapped into a new revenue stream, found new ways to attract online banking customers, and extended .

and more »
..


Banking regulator likely to tighten provision coverage ratio policies
The China Banking Regulatory Commission is mulling over a move to adjust the existing non-performing loan provision coverage ratio policies, requiring commercial banks to make the provision-to-total-lending ratio reach no less than 2.5 percent by the end of 2011 at earliest, according to a report by 21st Century Business Herald on Sept. 8...


S1 to Provide Corporate Banking Solution to TCF
S1 to provide corporate banking solution to TCF to help minnesota bank aims to enhance support of corporate customers online banking needs...


M&T Bank Features Best Buy Gift Cards in 'Banking Built for Families'
Just in time for family night, M&T Bank is introducing "Banking Built for Families" featuring cash bonuses up to $125 and up to $50 in Best Buy gift cards for new checking accounts and adding family-friendly services like free Web Bill Pay and overdraft protection...


Bank of America CEO Brian Moynihan to Present at the Barclays Capital 2010 . - MarketWatch (press release)

Bank of America CEO Brian Moynihan to Present at the Barclays Capital 2010 .
MarketWatch (press release)
Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products .
Synovus to Present at Barclays Capital Global Financial Services ConferenceEON: Enhanced Online News (press release)

all 286 news articles »
..


Sovereign-Debt, Web Impostors, Medicaid Fraud: Compliance - Bloomberg

Kansas City Star
Sovereign-Debt, Web Impostors, Medicaid Fraud: Compliance
Bloomberg
China's banking regulator is drafting a plan requiring banks to maintain loan-loss reserves equivalent to 2.5 percent of total lending, according to Guosen .
US STOCKS-Futures drop on renewed European banking concernsFOXBusiness
US STOCKS-Futures drop on renewed European banking concernsReuters

all 1,346 news articles »
..


SunTrust Expands 401(k) Offering with New Online Retirement Toolbox to Help Employee Participants Plan Solid Financial .
SunTrust Banks, Inc. has introduced an innovative, interactive online Retirement Toolbox for businesses who choose SunTrust as their 401 plan provider. This new offering reflects SunTrust's ongoing commitment to enhance retirement plan solutions and proactively address the evolving retirement needs of business clients and their employees...


Are online checking accounts for you?
Online checking accounts aren't for everyone. It's easy to be lured by virtual banks' high interest rates. But the accounts can also come with drawbacks, such as deposit delays, impersonal customer service and limited checking options...

Technorati Tags: ,