How To Get A Free Checking Account

Getting a free checking account is an easy task to do these days, and banks everywhere offer this great option for their customers.

Find a bank

First, you need to research your different options for opening a free checking account. There are many different banks that offer a variety of products for their customers. Most people choose an actual brick and mortar bank that offers face-to-face interaction with employees. Brick and mortar banks include Bank of America, US Bank or Regions Bank. There is also another option, a virtual bank such as ING Direct, USAA or HSBC. These companies offer online free checking accounts.

Banks use free checking to attract new business

Banks use free checking to attract new business. Banks hope that when you open a free checking account you end up purchasing other products from them. Banks offer many other financial products such as credit cards, auto loans, home loans, home equity loans and personal loans.

Opening your free checking account

When you have done your research and are ready to open up a checking account, there are some features the bank should offer. Look for banks that offer free online bill pay, free checks, free ATM or debit card and no charge to use ATMs outside of the banking family. Compare many banks to get the best option. Banks that offer free checking do have stipulations such as a minimum balance to open the account or require that the account is set up with direct deposit. By researching all the options, a solid decision for the best checking account is easily made.

Know your options

When deciding between a strictly online checking account versus a physical building, know your options. Most people enjoy having the convenience of choosing a bank that is near their home or place of work. There are also lots of people who choose to open checking accounts only online. There are some benefits to this option because it can save time, is completely automated and might offer a higher interest rate.

Research and compare many different banks and their products when opening a free checking account.

There are some features the bank should offer

by Caitlin Coarsey , Finance writer