Be Wary of Free Banking Offers: They are a Myth

As a consumer, you are always looking for a good deal.  With more and more banks offering free bank accounts, it might be very tempting to take advantage of these offers to avoid paying the monthly service you are currently paying each month for the account you currently hold.  Just because a banking institution claims that they are offering free banking does not mean that these claims are necessarily true.  Financial institutions who offer free checking accounts must make money somewhere because they are for-profit organizations.  This means that consumers need to educate themselves on possible hidden charges they may be assessed before they are enticed to open an account.  Read on and find out how free banking offers are really a myth and how they may end up costing you as much as $1,150 a year.

Money Collected From Accounts in Good Standing

You have to consider just how much money the institution is going to charge you for services that should be included in your account for free.  Research shows that a number of the financial institutions who are offering free banking are charging their (Read More….)