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Many banks offer free online checking accounts. This page provides helpful information on how to find banks that offer free checking and how to avoid getting stuck with fees that may be hidden in the 'fine print.'
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Introduction
If you search online for banks that offer free checking you may quickly become overwhelmed with all the offers for free checking. This page provides information on what kinds of free checking offers there are and what the terminology means. -
What You'll Need
In order to open a checking account online you'll need to fill out a form. Questions on checking application forms will include:- Your full legal name
- Your address
- Your phone number
- E-mail address
- Your citizenship status and social security number
- Date of birth
- Occupation and source of income
Video: Online Banking, Is It Secure?
This video is a television news report about the safety of online banking. This report explains how to make sure you are visiting an authentic online bank. They point out that a bank's website is secure if you see "httpS" in the url address when you are visiting a secure page on the website. Normally you would see "http"; the "s" is for "secure."
Step 1: Compare free online checking account offers
Free checking is usually a promotion by a bank to entice customers into signing up for an account. Free checking services often provide bare minimum services. Many banks require 'upgraded' checking accounts if you want to use features like direct deposits. Go the the major banks' website's and do a little investigating. Compare their free vs. paid checking account plans. Reputable banks have websites that provide a clear side-by-side comparison of all the checking account packages they offer.Step 2: Decide what services you'll need
Free checking usually comes with minimal features. If you pay a monthly fee for a checking account, you are more likely to have special features like stop-payments or canceled check returns. Free checking may not include overdraft protection. If you overdraw on your account, you may be hit with a hefty overdraft fee.Consider the following:
- Can you keep a monthly required minimum of cash in your account?
- Do you need direct deposit?
- Do you need regular checks or will just an ATM card work for you? (Sometimes regular checks costs extra)
- Would you feel more comfortable with an overdraft protection plan?
Conclusion
Opening a free online checking account may be as easy as a click of a few buttons. Before choosing which bank you'll go with for a free online checking account, make sure you do your research. Be sure to fully understand all of the terms and conditions associated with the account you choose.About this page
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