advertisement
Forums

The Forum is sponsored by 
 

AAPL stock: Click Here

You are currently viewing the Tips and Deals forum
Free checking account?
Posted by: deckeda
Date: March 23, 2018 01:24PM
Shopping for a transactional (duh) checking account. Low balances would be kept, to pay bills from and living expenses. Seems most brick-and-mortar banks will waive a monthly fee with a decent direct deposit, which I cannot yet do. There aren't credit unions nearby, but I could drive to one if necessary. Not exactly sure how to research ones I might qualify for?

Or maybe I could punt and open an online account? Dunno much about them. It's rare that ever have a desire to walk into a bank.
Options:  Reply • Quote
Re: Free checking account?
Posted by: cbelt3
Date: March 23, 2018 01:25PM
"Student Account".
What are you studying ?
"Life".
Also Credit Union.
Options:  Reply • Quote
Re: Free checking account?
Posted by: JoeH
Date: March 23, 2018 01:39PM
My CU has two different ways to get checking free. One is the traditional type, free with direct deposit of a paycheck. The type my son has is free as long as 12 debit card transactions are done each month.
Options:  Reply • Quote
Re: Free checking account?
Posted by: Dennis S
Date: March 23, 2018 01:45PM
One of my banks waives the service charge of the balance remains above $500 all month.
Options:  Reply • Quote
Re: Free checking account?
Posted by: ka jowct
Date: March 23, 2018 02:05PM
Some banks let you link a savings account, so that you don't have to keep a specific amount in your checking account.

Forget Citibank. They want a large average balance to give you free checking. Although all accounts, including CDs and so forth, count toward the average.



Edited 1 time(s). Last edit at 03/23/2018 02:06PM by ka jowct.
Options:  Reply • Quote
Re: Free checking account?
Posted by: deckeda
Date: March 23, 2018 02:16PM
There's a regional bank here that has some no balance, no fee accounts (albeit with DD ...). Right now I want no balance, no fee, no DD although some of that would change eventually.

Perhaps I'll just convert the $1,000 check I planned to park, into cash and hang onto it for a bit longer. In other words the conditions that would easily give me a free account today (maintain a min balance) would not work later unless I find one that needs a min balance OR direct deposit.

I'm sure I'll find one, but I am still curious about the online-only banks?
Options:  Reply • Quote
Re: Free checking account?
Posted by: anonymouse1
Date: March 23, 2018 02:17PM
My credit union requires a $10 deposit in the savings account to get free checking.
Options:  Reply • Quote
Re: Free checking account?
Posted by: deckeda
Date: March 23, 2018 02:25PM
Quote
anonymouse1
My credit union requires a $10 deposit in the savings account to get free checking.

A random CU I looked at was similar, albeit with a $25 min to retain membership.

Now, I would hope to never drop below $25 but for the time being, couldn't say with confidence that it would happen.
Options:  Reply • Quote
Re: Free checking account?
Posted by: Frank
Date: March 23, 2018 02:29PM
US Bank senior account costs nothing.
Options:  Reply • Quote
Re: Free checking account?
Posted by: deckeda
Date: March 23, 2018 02:32PM
Quote
Frank
US Bank senior account costs nothing.

Sounds good. The ones I looked at around here all wanted to charge their over-50 customers for the privilege of age. Maybe they figured the savings deposit box discount would entice.
Options:  Reply • Quote
Re: Free checking account?
Posted by: Dennis S
Date: March 23, 2018 02:52PM
Around here, the smaller regional banks are more likely to have no-fee accounts.
Options:  Reply • Quote
Re: Free checking account?
Posted by: NewtonMP2100
Date: March 23, 2018 03:05PM
....USAA on-line.....Commerce used to have it but TD Ameritrade took it over and changed minimum balance requirements.........



_____________________________________

I reject your reality and substitute my own!
Options:  Reply • Quote
Re: Free checking account?
Posted by: tronnei
Date: March 23, 2018 03:26PM
CapitalOne 360 checking:

[www.capitalone.com]

No experience with the checking, but I'm happy with their savings account (formerly ING)
Options:  Reply • Quote
Re: Free checking account?
Posted by: Racer X
Date: March 23, 2018 03:36PM
Yup, Credit Unions are your best bet.
Options:  Reply • Quote
Re: Free checking account?
Posted by: Filliam H. Muffman
Date: March 23, 2018 03:56PM
If you decide to use a credit union, make sure they are part of the network. Some small ones will charge you for using ATMs out of the local area.



In tha 360. MRF User Map
Options:  Reply • Quote
Re: Free checking account?
Posted by: space-time
Date: March 23, 2018 03:58PM
Quote
tronnei
CapitalOne 360 checking:

[www.capitalone.com]

No experience with the checking, but I'm happy with their savings account (formerly ING)

This. I had their Savings for a long time (2000?) and I opened a checking account a few years ago at thanksgiving when they had a $25 promo. Never a fee in any of these accounts. I can do online transactions, I had an ATM card at some point (I think I still have, I never used it). I think I also had checks or you could order checks if needed.
Options:  Reply • Quote
Re: Free checking account?
Posted by: NewtonMP2100
Date: March 23, 2018 04:55PM
....you can open USAA with $50 but no minimum to maintain........don't really physically go into a bank anymore with direct deposit and ACH to transfer from local bank (which rarely used but have it just in case).....

....you can deposit and withdraw from ATM, USAA rebates up to a certain amount from out of network ATMs......


......don't even use checks to pay bills anymore with bill pay......you can pay most bills (pay all utilities, phone, credit cards) with bill pay and it is free.....haven't written a check in years........



_____________________________________

I reject your reality and substitute my own!
Options:  Reply • Quote
Re: Free checking account?
Posted by: testcase
Date: March 23, 2018 06:48PM
Another vote for Credit Union. Do pay attention to details though. I had a free checking account closed because I never wrote any checks on it. I now automagically transfer some cash (from another Credit Union) into the reopened checking account. I then use said checking account to pay a Visa account I opened with that Credit Union. Many CUs now offer a service called "Shared Branch". I can go into any "Shared Branch" CU and, conduct business there the way I would at my home CU. I used that service ~ two years ago while in Elkhart, IN. The teller educated me and told me I could simply make a cash withdrawal without writing myself a check. Easy peasy!
Options:  Reply • Quote
Re: Free checking account?
Posted by: space-time
Date: March 23, 2018 07:31PM
Credit Unions around here do not have convenient hours. When I looked, it was 9 AM to 3 PM. Banks are not much better either, but at least they are open until 5 PM and some branches on Saturdays.
Options:  Reply • Quote
Re: Free checking account?
Posted by: bobinmurphy
Date: March 23, 2018 08:00PM
Guess it might depend on which State you live in and your age. Here in North Texas if you're over 55 you can get a free checking account at the banks associated with Walmart. No minimum balance, pays interest (although not much), daily e-mail statements, on-line statements, on-line banking and bill paying, free ATM (at their ATMS) and most Walmarts have in-store banking with real live tellers 7 days a week.

If you're under 55 or still working I think you can get the same thing with them as long as you sign up for direct deposit.

I've been using them for over 10 years and never had any problems.
Options:  Reply • Quote
Re: Free checking account?
Posted by: graylocks
Date: March 23, 2018 10:22PM
how does your money get to you? i use CapOne and USAA which are both onlines but if i need to deposit cash to those accounts the money is first deposited to my brick and mortar credit union ATM and then transferred. free checking at a CU in my area only requires there be $5 in savings.



"Success isn't about how much money you make. It is about the difference you make in people's lives."--Michelle Obama
Options:  Reply • Quote
Re: Free checking account?
Posted by: NewtonMP2100
Date: March 23, 2018 11:37PM
.....that is what I do....I have a bare minimum account at Chase.....in case I have to do in-person banking and I can deposit and then transfer to my USAA account for the big stuff........



_____________________________________

I reject your reality and substitute my own!
Options:  Reply • Quote
Re: Free checking account?
Posted by: Forrest
Date: March 24, 2018 05:55AM
Lots of choices - see https://www.depositaccounts.com/blog/

Discover and CapitalOne look good
Options:  Reply • Quote
Re: Free checking account?
Posted by: deckeda
Date: March 24, 2018 08:48PM
Thanks all!
Options:  Reply • Quote
Sorry, only registered users may post in this forum.

Click here to login

Online Users

Guests: 101
Record Number of Users: 186 on February 20, 2020
Record Number of Guests: 5122 on October 03, 2020