5 Benefits Of A Free Checking Account

Have you ever thought about getting a free checking account? The days when you had to spend a lot of money to acquire a checking account are long gone. You can now go online and sign-up for a checking account with a bank or credit union free of charge. Apart from ease of acquisition, these accounts come with several benefits, including the following:

Lower User Fees

Since the account is free, you won't have to pay maintenance fees. According to a report in Forbes Magazine, Americans paid an average of $4.90 monthly to maintain a checking account in 2020 with commercial banks. You can save up to $60 annually by opting for a free checking account. You can either save that money or use it to meet your daily expenses.

Affordable Overdraft Facilities

When you need money and don't have enough of it in your checking account, you can take advantage of affordable overdraft facilities. The interest charged on overdrafts is much lower than that of some commercial banks.

Zero Minimum Balance

A free checking account makes it possible for you to grow your money without maintaining a minimum balance. In effect, even with zero balance, you will still be able to keep your account. Also, all the money in the account is available for withdrawal whenever you need it.

High Interest on Deposits

Despite being free of charge, some checking accounts can earn you high interest on deposits. With that, you can quickly grow your account balance without making large deposits. Even if you left the account unattended, you would still grow your money. Considering that a free checking account has no maintenance fee, having it is one of the best ways to multiply your finances.

Variety of Services

The fact that it is a free checking account doesn't mean that it is useless. Like the paid account, you have access to a vast ATM network, online banking, mobile banking, direct deposit, and automated bill payment. Also, remote check deposits, electronic transfers, and electronic statements can be sent to your email. In addition to the services above, you can also write checks for payment against your account balance.


You should get a free checking account and enjoy lower user fees, zero minimum balance, various services, affordable overdraft facilities, and high interest on deposits. However, the degree to which you will enjoy these benefits depends on your financial institution. You can have your free checking account today.

Visit a company like FCCU - First Community Credit Union to learn more about signing up for a free checking account.