Q:

Are checking accounts free?

A:

Quick Answer

Some checking accounts are free, says About.com. The accounts can be truly free, particularly at some banks or credit unions, while others are free because of fee waivers.

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Are checking accounts free?
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Full Answer

Many online banks offer free checking, according to About.com. Such banks also tend to have other perks, including higher interest rates on savings accounts and checking accounts. Small local banks and credit unions are also viable places to look for free checking. Customers of larger banks can qualify for free checking by getting fee waivers for meeting criteria such as a minimum balance or direct deposits. "Free" typically refers to the checking account itself; charges are incurred for transactions such as wire transfers and bounced checks.

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