Free Checking?

I’m always amazed that I see financial institutions advertising free checking like it is an unheard of idea.

Why would anyone pay for a checking account?

I have 5 checking accounts (personal and business) at 4 different banks and they are all 100% free. A couple of them even earn a modest interest rate. No minimum balance, no restrictions.

Is free checking really that hard to find for the average Joe? I don’t think so. I think the secret is picking a local bank over a national one. None of my banks are national. Do I see any difference in service?

Absolutely.

With two of my banks I can usually set up a loan over the phone and sign the papers when I get time. Try that with a Wells Fargo. Also local banks need your business more, they are more willing to compete and negotiate, and they usually know you by name.


Technorati : , , , , , , , , ,

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s