Submitted by: Robbie T. James
Bank fees are something that most of us never anticipated before we got our first bank account. Whether you got your first checking account right out of high school, or maybe when you took your first job, it is likely that you never thought you would end up paying so many bank fees.
The theory of bank fees makes sense, of course. After all, banks do provide a valuable service and this service cannot be free. And let’s face it: checking accounts and all of the features and benefits that go along with them are pretty handy, including access to debit cards, online banking, online bill-pay, ATMs for cash withdrawal, and of course the ability to write checks.
Still, if you are like most other folks, you probably feel like checking account fees have gotten a bit out of hand over the past few years. It is not pleasant to check your checking account bank statement at the end of the month and see a host of fees that add up to $100 or more. Nobody needs that, especially in these economic times.
The key is to find banks that offer checking accounts without fees – or with low fees.
If you are looking for checking accounts without fees, here are 5 steps to choosing the right bank:
1. Understand the types of fees banks charge:
There are a number of fees that banks charge. These include, for example: monthly checking account fees, per-use check fees, fees for viewing scanned copies of previously-written checks online, overdraft fees, and bill-paying fees. There are also fees for ordering checks, requesting certain special types of bank statements, and transferring balances between accounts (as part of overdraft protection), and more. That’s a lot of bank fees!
2. Decide what other bank features you are interested in:
Before you start shopping for a bank that offers checking accounts without fees, decide for yourself which other features you are looking for in a bank. Besides charging few or no fees, you may also want (for example) a bank that: is FDIC-insured, offers a lot of local branches near you, is a big-name national bank, has a reputation for excellent customer service, or offers extensive auto and home loan programs.
3. Conduct an online search for banks that meet your criteria:
Next, conduct an online search for banks that offer what you are looking for. A great place to start is to look for “no overdraft fee” banks, since overdraft fees are one of the most costly types of fees (to the tune of $25 billion in the U.S. alone each year) that banks charge.
4. Make a list of at least 5 finalist low-fee or no-fee banks:
Now, make yourself a list of 5 “finalist” banks that offer low-fee or no-fee checking – as well as that meet some or all of your other requirements.
5. Contact at least 3 of the banks and see which ones you get the best impression from:
Now, go online, visit, or call and see how you feel about each finalist bank. What is your chemistry with the with whom persons you speak? Do you like the feel of their website? Pay attention to how you feel, because these factors will likely remain true if you become a customer with that bank.
Take these 5 steps to choosing the right bank for you that offers checking accounts without fees.
About the Author: Find out how anybody can qualify for a low-fee or no-fee checking account at:
Checking Accounts For Everybody
.
Source:
isnare.com
Permanent Link:
isnare.com/?aid=742639&ca=Finances }
