There used to be a time when banks did not charge any fees when it came to checking accounts. This has changed because of the fact that banks over time, have become more expensive. Some banks have upgraded all their accounts in the past few years and have also become more sophisticated which added to their accounts even more. Though this might be the case when taking the traditional route, in the last few years, banks have made more and more use of the internet and have thus come up with a more affordable plan when it comes to checking accounts. Some have even gone so far to offer free checking accounts which have made these banks a much more popular choice than others.
To get a free checking account, however, one must qualify first. According to the government, a checking account is still not considered to be free as the account holder might still have to pay an activity or maintenance fee.
A free checking account is an account that reserves the right to charge fees but only for certain activities. These include if you, for instance, overdraw on your account. Having such an account can be quite valuable and is something you should look in to.
The Top ‘Free’ Checking Accounts
These include a range of benefits such as a sum of free money when you sign up, access to ATM’s that do not have any charges, as well as no added charges on any of the extras. Convinced yet? Have a look at the following best online institutions to open your free account today.
Capital One 360
Listed as one of the top choices, its benefits speak for itself. It includes 38,000+ free ATMs, no international transaction fees, a free mobile app, as well as no added fees. The only fee it does include is a $25 fee when cancelling a payment on a check.
In addition, Capital One 360 also allows you to open a savings account. Why not sign up for both? Oh, and we know what you were thinking, it’s free too.
With a competitive daily rate and a 24/7 customer service, Capital One 360 has you covered.
USAA Classic Checking
Offering a free account that is designed for their consumer’s needs, USAA Classic Checking is a convenient online institution that allows you to make deposits, along with a set of free tools that help you monitor and plan your spending. They also offer an online bill paying feature which helps make it easier for you to manage your household bills, as per your convenience. There are no monthly fees involved. They also have free ATM’s nationwide, no minimum balance requirements, free direct deposits and free transfers when it comes to bill payments.