Free Checking Home Care Path

Financial advisors have encouraged seniors to look to banks for free checking. With interest rates so low it has become better to choose a checking account that pays no interest, but also does not charge a monthly fee.

Banks consistently alter service to enhance revenue allowing them to continue to serve the community. Some banks have eliminated free checking accounts and raised minimum balance requirements as a way to increase revenue.

Start by asking your bank if they have a checking account that would be lower priced than your current checking account. Explain you are looking for free checking. This would be a checking account with no minimum balance requirement, no per check charge, and no monthly or annual maintenance fee.

Seniors searching for free checking are encouraged to sign up for direct deposit and electronic statements. With direct deposit money is routed from the payer electronically and listed to your checking account. The labor for this transaction is minimized. Electronic statements eliminate the labor and shipping cost of batching and delivering actual checks to the seniors residence. Both of these services save the bank money which could be passed on to the consumer.

Financial advisors prefer no maintenance fee checking accounts, that can be linked to savings accounts, or other accounts that can count toward any minimum balance requirement. All banks are looking to serve more consumers which has resulted in a healthy competition. Most banks would rather assist the senior to best meet their needs than lose them to a competing bank.