Are you looking to open up a new checking account? Before you take this big step on your financial journey, you should consider the different types of checking accounts out there and how they can save you money.
If you’re a student or a senior, you can often find checking accounts with little to no fees. There are also reward checking accounts that help you make money while you spend. To learn more about the different types of checking accounts that can save you money, check out the slides below.
No fees checking accounts are pretty self explanatory. No fees checking accounts do not charge any monthly fees to maintain your checking account with a certain bank. Additionally, they usually do not have a minimum balance requirement and do not charge you a fee if your checking account balance falls below a certain amount. No fees checking accounts often also do not require a minimum amount of money to open a checking account.
Now, all these benefits sound like a dream, but this combination of benefits is not always easy to find. A lot of smaller banks offer no fees checking accounts in order to compete with larger banks, but this can mean you have very few options if you need to visit your bank’s physical location for any reason.
This is especially limiting when it comes to finding an ATM to withdraw money from. However, some banks do offer a refund for ATM fees if there are no ATM’s for your specific bank in your area.
Although finding all these benefits may be complicated, aiming for at least some of them should be your goal when opening a new checking account.
Many major banks charge $15 a month for maintaining your checking account with them, and avoiding these monthly fees can save you a great deal of money in the long run. With all these benefits in mind, do not settle for a checking account that charges you dozens of unnecessary fees. Look for the best no fees checking account options that are convenient for your area and see which one works best for you.