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Most big banks in the US have monthly fees for keeping your money in an interest-free checking account. This ends up costing you something like $5-25/month unle
by IgorPartola 11y ago
Most big banks in the US have monthly fees for keeping your money in an interest-free checking account. This ends up costing you something like $5-25/month unless you (a) also set up direct deposit with them or (b) maintain a minimum balance that is typically relatively large. This is why I keep my money with a credit union instead: better customer service, better rates, no stupid fees.
Edit: for example, https://www.bankofamerica.com/deposits/checking/personal-checking-account.go https://www.bankofamerica.com/deposits/checking/personal-che...
- morgante 11y agoI think the vast majority of people still have "free checking."
- protomyth 11y agoNot all credit unions are immune to stupid fees. The "low aggregate balance fee" is alive and well locally. People wonder why Walmart is gaining popularity.
- ultramancool 11y agoYou can find free chequing accounts though and if you're careful enough to not get caught by overdraft fees, they're the way to go. I'm Canadian and I know 2 banks here that do it, but I'd imagine similar exists in the US?