Branchless Bank X Offers One of the Best Checking Accounts Today

bank x

Brick-and-mortar banks are located on just about every block, which is convenient if you prefer to manage your cash with an institution you can see and touch. But if you decide to go this route, be prepared to be nickel and dimed to death.

Bank fees vary by institution and can include anything from ATM fees to monthly service charges. These expenses can add up quickly, reducing your account balance and potentially obliterating any interest earnings. There is, however, a better way to bank.

If you’re tired of pesky charges and you’re looking for a cheaper, simpler way to manage your money, a checking account with Bank X might be right up your alley. It’s everything you need in a checking account — minus the fees.

Related: Study: A Single Overdraft Can Cost You up to 145% of Your Yearly Interest

Bank X Checking Account Features:

  • Free online/mobile banking: A Bank X checking account lets you access your money from anywhere in the world on your computer or smartphone. With the ability to manage your funds 24/7, you can transfer funds, pay bills, send money, check your balance, review your most recent transactions, locate an ATM or deposit a check.

More From Your Money
  • Free overdraft protection: Bank X offers free overdraft protection. If you accidentally overdraw your account, the bank automatically transfers funds from a linked account to your checking. As a bonus, the bank doesn’t charge an insufficient funds fee. Therefore, you won’t get hit with a hefty charge if an unexpected payment comes through. Other banks charge as much as $35 per item.
  • Free unlimited ATM reimbursements: Fees for using an ATM outside your bank’s network are no joke. You could end up paying a $2.50 fee to the bank that owns the ATM, plus a $1.50 fee to your bank. To avoid these charges, you might drive several miles to locate an in-network ATM. A checking account with Bank X alleviates needless driving and expensive penalties. Use any ATM in the country to withdraw cash from your checking account and the bank automatically reimburses your fees.
  • No monthly service fees: The minimum deposit to open an account is $100. However, Bank X does not charge a monthly service fee for checking accounts, nor requires a minimum monthly balance.
  • Free cash-back rewards: Who doesn’t enjoy cash back? Use your X checking Visa debit card for everyday purchases — either online or in stores — and earn cash back. The bank automatically deposits cash back rewards into your account each month.

Related: 9 Best Banks and Credit Unions for College Students

Getting Started with X Checking

With no monthly maintenance fees, ATM fees or overdraft fees, a checking account with Bank X can save you hundreds. To get started, visit the bank’s website and complete an application to open an account. You’ll need your social security number, driver’s license or state ID, contact details and your existing bank account information.

It only takes a few minutes to complete the application, and there are several ways to fund your account. For example, you can set up an electronic transfer from an existing checking or savings account, request a wire transfer, mail a physical check, or complete a mobile deposit with your smartphone.

About the Author

Valencia Higuera

Valencia Higuera is a personal finance expert who enjoys articles on budgeting, saving money and credit cards. She holds a B.A in English from Old Dominion University and currently lives in Chesapeake, Virginia.

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