i need to open a checking account, which is the best bank that has no fees that I can open an account with?

Question

Im18yrs old and tryin to open my first bank account i would like some tips on what to do and which bank to use that wont charge me any fees.

Answer 1

To say "no fees" is somewhat misleading.
Most banks have a no-monthly fee checking account but watch out! Some banks like Wells and BofA require direct deposit which you may not have.
To my knowledge, Washington Mutual has the only free checking account, among major financial institutions, that requires nothing but a penny to keep the account open and fee-free, with or without direct deposit.

That said - if you go negative (overdraft) EVERY bank will have some sorta fee, although with some convincing you may get one or two reversed.

Hope this helps!

Answer 2

US Bank charged me $35.00 per bounced check and always found a way to get about $500.00-$700.00 from me every year. When I switched to a credit union they only charged $25.00 bounced check and I only ever had 1-2 of those a year.

Why: Here's what I learned the hard way.

EG: Lets say you have $90 in your account and you have 5 checks outstanding (one for $81 and 4 for $10 each) the big banks computers are programmed to pay the biggest check and bounce the other 4 (they do this on purpose because they can then charge you $140 in overdraft fees (4X$35.00), if they paid the 4 smaller ones and then bounced the big one they would only be able to charge you 1-$35.00 fee.

Credit unions on the other hand are owned by the members and so their goal is not to stiff the members. My experience has been that credit unions will do what is best for you- big banks will do what is best for their pocket book. Of course if you are smart with your money and you don't ever bounce a check then you can ignore this and go with a bank that gives you the most convenience (most brances, best hours etc).

Answer 3

You do not say where you are located in the country, so this will be generic advice.

Look for a small, local bank, or if you are eligible, a credit union.

Many of the smaller banks offer free checking, with low or no minimum balance requirements. Call around to the banks in your area and see what they are offering!

Answer 4

I don't agree with going to a small local bank. I have had nothing but trouble with all three of my small banks where I live. It is definitely a problem when I am traveling.

Most banks have free checking for students, if you are one. I prefer Chase since they are just about everywhere so using a debit/ATM card is free when I am traveling and you have access to a bank if you need it.

Answer 5

I economic corporation with electorate economic corporation and that i respect them. besides the very incontrovertible certainty that i can debit as a lot as i want without charges, I honestly have completely loose checking, earn reward factors, have easy to apply on line banking with loose bill pay. I honestly have had no problems with them seeing that I honestly have had a account with them. yet they're community to the Northeast united states of america. yet when that would not help you, i will inform you that I honestly have had terrible reviews with Chase, economic corporation of u.s., HSBC and ESL credit union. So a minimum of stay far flung from those.

Answer 6

U.S.Bank offers free checking and you can get a debit card try that if you have one in your area or just call the local banks and see what they offer or call a Credit Union they have free checking

Answer 7

go to citibank.com. I think they are offering 5.0 percent interest acct. with no minimum if you open up a free checking...as long as you're O.K. with online banking.

Answer 8

I like Chase

Answer 9

washington mutual, truly free checking, no matter what your balance may be.