Savings Tips: Free Checking Accounts

Although you can physically survive without it, a checking account is an essential tool for your financial survival. Checking accounts are transactional, meaning that by you tapping into it you are authorizing your bank to pay off your debts using the current money on deposit in your active account. Plus, by making the efforts to properly manage your checking account you are taking the first steps to building a positive credit history for your self. With a little time and effort you can actually score a free checking account which can save you over $100 bucks annually.


Banks realize the value of checking accounts and commonly charge depositors fees and require minimum amounts of cash to prevent further penalty charges. However, you can utilize the Internet to find free checking accounts that will waive many of the rules associated with checking accounts.

If you opt for opening a checking account through your local bank branch, on average you may get charged a monthly $12 fee. Brick and mortar banks have higher overhead then online banking options as they physically need to put the cost of the rent and staff salary into their operating budgets. Any penny they can get from their customers will go to offset this balance and towards their goal of turning a profit.  That is not to say that all brick and mortar banks charge a fee. Many banks offer free checking as a way to entice customers now in order for them to be considered for future business. As an educated consumer, you just need to practice due diligence in researching your banking options in order to take advantage of a free checking account.

Free checking accounts are plentiful and are becoming a bit of an industry standard as banks are fighting for business. Search the options for free checking accounts from the comfort of your couch now and enjoy the extra cash in your wallet sooner than later!