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.
Wednesday, May 22 2013 9:56 AM EDT2013-05-22 13:56:24 GMT
Americans are known for their pearly whites, but we pay for it—and it isn't cheap.
Americans are known for their pearly whites, but we pay for it—and it isn't cheap. If you have more than one child who needs braces, you have quite an expense on your hands—but FOX 5 I-Team reporter Dana Fowle found some ways to make it a little more manageable.
Monday, May 20 2013 11:12 PM EDT2013-05-21 03:12:38 GMT
The Douglas County district attorney used seized drug money to take support staff to a north Georgia training conference designed for prosecuting attorneys.
The Douglas County district attorney used seized drug money to take support staff to a north Georgia training conference designed for prosecuting attorneys. The FOX 5 I-Team followed along and found the four women didn't even register to attend the conference.
Monday, May 20 2013 6:44 AM EDT2013-05-20 10:44:05 GMT
Maria Boudet is a teen who had been living in foster care. She worked hard and earned a college scholarship. But the scholarship was revoked when Boudet's life-long wish was answered; she was adopted.
Maria Boudet is a teen who had been living in foster care. She worked hard and earned a college scholarship. But the scholarship was revoked when Boudet's life-long wish was answered; she was adopted.
Friday, May 17 2013 6:31 PM EDT2013-05-17 22:31:42 GMT
For decades, Atlantans have woken up to Tom Sullivan on their radios. But you might not know that he's also somewhat of an expert eBay seller, and he's got quite a story to tell.
For decades, Atlantans have woken up to Tom Sullivan on their radios. But you might not know that he's also somewhat of an expert eBay seller, and he's got quite a story to tell.
The FOX 5 I-Team found a pattern of payments and perks to one family by the local district attorney's office, and it's a pattern that has critics crying favoritism.
The FOX 5 I-Team found a pattern of payments and perks to one family by the local district attorney's office, and it's a pattern that has critics crying favoritism.
Wednesday, May 15 2013 10:32 PM EDT2013-05-16 02:32:39 GMT
A local man says Atlanta Mayor Kasim Reed and Reed's ex-girlfriend got him fired from his city job. The man told the FOX 5 I-Team about the federal whistleblower lawsuit he's filed and why he wants the city to pay up.
A local man says Atlanta Mayor Kasim Reed and Reed's ex-girlfriend got him fired from his city job. The man told the FOX 5 I-Team about the federal whistleblower lawsuit he's filed and why he wants the city to pay up.
Wednesday, May 15 2013 6:39 AM EDT2013-05-15 10:39:34 GMT
Summer is a break for kids, but you still need to keep them busy. So you sign them up for camp, hoping to keep the kids entertained at a safe camp and all at an affordable price.
Summer is a break for kids, but you still need to keep them busy. So you sign them up for camp, hoping to keep the kids entertained at a safe camp and all at an affordable price.
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Wednesday, May 22 2013 1:00 PM EDT2013-05-22 17:00:29 GMT
An emotional funeral service has been held for a Hofstra University student who was accidentally shot by police.
An emotional funeral service has been held for a Hofstra University student who was accidentally shot by police. Andrea Rebello's family followed the pastor Wednesday as he led her white cloth-draped coffin to the altar at St. Teresa of Avila Church in Sleepy Hollow, N.Y.
Wednesday, May 22 2013 12:55 PM EDT2013-05-22 16:55:01 GMT
Jersey shore town is celebrating a milestone as it rebuilds from Superstorm Sandy. Belmar officials will reopen their 1.3-mile boardwalk that was destroyed by the October storm.
Jersey shore town is celebrating a milestone as it rebuilds from Superstorm Sandy. Belmar officials will reopen their 1.3-mile boardwalk that was destroyed by the October storm.
Wednesday, May 22 2013 12:27 PM EDT2013-05-22 16:27:26 GMT
Black and Hispanic men are more likely to be stopped in the Bronx and Brooklyn than other boroughs, according to an analysis of police street stop data released Wednesday by the New York Civil Liberties Union.
Black and Hispanic men are more likely to be stopped in the Bronx and Brooklyn than other boroughs, according to an analysis of police street stop data released Wednesday by the New York Civil Liberties Union.
Wednesday, May 22 2013 12:10 PM EDT2013-05-22 16:10:42 GMT
The NYPD arrested a suspect in the latest anti-gay attack in the city, said police.
The NYPD arrested a suspect in the latest anti-gay attack in the city, said police. The incident Monday night involved two men, who police say, had met at the Bowery Mission and went out drinking together in the East Village. Roman Gornell, 39, was arrested on Wednesday.
Wednesday, May 22 2013 8:23 AM EDT2013-05-22 12:23:21 GMT
Ex-congressman Anthony Weiner whose career imploded after raunchy tweets said in a YouTube video announcement that he's in the New York City mayoral race.
Ex-congressman Anthony Weiner whose career imploded after raunchy tweets said in a YouTube video announcement that he's in the New York City mayoral race. A poll released Wednesday placed Weiner in second place behind City Council Speaker Christine Quinn in a Democratic primary.
Wednesday, May 22 2013 8:10 AM EDT2013-05-22 12:10:21 GMT
Commuter rail service from Connecticut to New York City, along with Amtrak service between Boston and New York, was back on schedule Wednesday morning on one of the nation's oldest and most heavily traveled railways.
Commuter rail service from Connecticut to New York City, along with Amtrak service between Boston and New York, was back on schedule Wednesday morning on one of the nation's oldest and most heavily traveled railways.
Wednesday, May 22 2013 7:42 AM EDT2013-05-22 11:42:24 GMT
The National Weather Service is looking into whether a tornado touched down in a rural eastern New York county during a series of severe thunderstorms that rumbled across the upstate region.
The National Weather Service is looking into whether a tornado touched down in a rural eastern New York county during a series of severe thunderstorms that rumbled across the upstate region.
