If you are not happy with the current checking account you have, are you ready to switch to a new one? You can find hundreds of options from banks that offer checking accounts, but these accounts are not equal. Every account is different from the others, and you should consider looking for a free checking account. There is no reason to pay for one when you can get one for free.
The downside to free checking accounts is that they may have rules you must follow. The upside is that they may also offer features that you will love. Here are some rules and features you may find with free checking accounts.
You Must Use Direct Deposit Services
Some banks advertise free checking accounts with the rule that you must sign up for direct deposit services to get one. If you have a job that offers direct deposit services, you could consider an account like this type. You would have to switch your direct deposit from your current bank to the new one, though. Banks require this because it provides them with regular deposits of money, and banks need cash coming in to operate.
You May Have a Limit on the Number of Checks You Write
Another rule you may find with free checking accounts is a limit on the number of checks you can write. A bank may allow you to write only a few checks per month with a free account. If you write a lot of checks in a typical month, this might not be the right option for you unless you are willing to change the way you handle your banking business.
Many banks try to limit the number of checks because they want their customers to use electronic banking services. They want you to set up bill-pay services online or pay your bills through electronic funds transfers (EFTs). Electronic banking is easier and more efficient for banks, and that is why they encourage it.
You May Have Features You Can Use
Banks today that offer free checking accounts generally have apps that they encourage their customers to use. Through a banking app, you might have access to a lot of great and useful features. The features available will make your banking habits easier for you. An example of this is online deposits. If you have a check to deposit, you can do this right on the app.
If you need a checking account, start looking at your options. You will likely find a free checking account that offers the primary things you need.
How many times have you put off making repairs around your home because you didn't have the money to make them immediately? Have those decisions caused even more repair bills because you waited to make the repairs? I have done this several times in the past, and, oftentimes, not making those repairs have cost me far more to complete because the damage spread. The whole reason I created my blog was to help others find the financing they need to make home repairs without worrying about choosing the wrong type of financing option. Hopefully, my hard-learned lessons will help you avoid the same struggles that I have undergone.