If there was ever a time to shop around for a new checking account, it would be now. Free checking accounts are coming with more and more strings attached.
According to bankrate.com, 76 percent of checking accounts in 2009 that paid not interest were free. The percentage in 2012 is now at 39. But to keep them free, the catch is that you must keep a minimum balance generally about $1,500 or in some cases you have to have a certain number of monthly direct deposits.
Not everyone can do that so there are some other options out there.
The first is to look for a credit union. Online data shows they still offer very good free checking deals.
Also, have you ever heard of an online bank/ They have no brick and mortar set up so they can sometimes be more competitive than a big bang, but make sure they are FDIC insured.
In addition, make sure you really need to pay for overdraft protection. If you bounce a check, overdraft protection covers you and saves you some embarrassment. However, you are still on the hook with the financial institution for a penalty.
And with everything concerning money, shop around. Just because a bank has decided customers need to pay for a once free checking account does not mean there are not better options elsewhere.
Monday, June 17 2013 8:03 AM EDT2013-06-17 12:03:25 GMT
We all get excited about leaving town and going on vacation, so we tend to tell everyone about it. But, a word of caution before spreading the good news.
We all get excited about leaving town and going on vacation, so we tend to tell everyone about it. But, a word of caution before spreading the good news.
Monday, June 17 2013 7:13 AM EDT2013-06-17 11:13:04 GMT
Pomegranate juice has been sold as a real 'cure-all' over the last couple of years. But in a decision made this month, the FTC has ordered at least one manufacturer to back off on its strong health claims.
Pomegranate juice has been sold as a real 'cure-all' over the last couple of years. But in a decision made this month, the Federal Trade Commission has ordered at least one manufacturer to back off some pretty strong health claims.
Friday, June 14 2013 8:56 AM EDT2013-06-14 12:56:09 GMT
Retailers got the go-ahead to pass along some extra charges to you, but not without some rules attached. You might not have noticed them just yet, but you should be on the lookout.
Retailers got the go-ahead to pass along some extra charges to you, but not without some rules attached. You might not have noticed them just yet, but you should be on the lookout.
Thursday, June 13 2013 3:29 PM EDT2013-06-13 19:29:22 GMT
A man once hailed as a military hero was arrested on Wednesday. Former Holly Springs Police Officer Shane Ladner is accused of tricking people into thinking that he received a Purple Heart for being wounded in battle.
A man once hailed as a military hero was arrested on Wednesday. Former Holly Springs Police Officer Shane Ladner is accused of tricking people into thinking that he received a Purple Heart for being wounded in battle.
Wednesday, June 12 2013 11:36 PM EDT2013-06-13 03:36:50 GMT
Tonight at 10, FOX 5 I-Team reporter Randy Travis shows how long it took a local sheriff to finally arrest a repeat horse abuser – even after state inspectors had spent years trying to stop the abuse!
Tonight at 10, FOX 5 I-Team reporter Randy Travis shows how long it took a local sheriff to finally arrest a repeat horse abuser – even after state inspectors had spent years trying to stop the abuse!
Wednesday, June 12 2013 9:07 AM EDT2013-06-12 13:07:42 GMT
You may have noticed – or, at least heard – that mortgage rates are starting to inch up again. The I-Team's Dana Fowle is here to help you understand what this change means for home buyers right now.
You may have noticed – or, at least heard – that mortgage rates are starting to inch up again. The I-Team's Dana Fowle is here to help you understand what this change means for home buyers right now.
Wednesday, June 12 2013 6:59 AM EDT2013-06-12 10:59:03 GMT
The Better Business Bureau always takes a look back at the previous year, and compiles its top 10 scams list.
The Better Business Bureau always takes a look back at the previous year, and compiles its top 10 scams list. According to the I-Team, the list are schemes that have been around as long as the BBB, 100 years. The only thing different is the technology.
