I used to work at a bank and I have seen just about every type of irresponsibility there is with financial decisions from customers. I have seen countless overdrawn accounts, missed credit and loan payments, check fraud, etc. I have also witnessed a lot of changes along the way like the recent credit card act and opting out of overdraft protection. Banks have retaliated against these profit-eating changes and most have rolled out fee-based checking and savings accounts to make up for the lost overdraft charges they have been doing for years to customers.
They are still some free accounts paying interest online but a lot of customers like the convenience of having a brick and mortar bank to go into. As an ex-bank employee here is a way to get an absolutely free checking account and possibly forever.
Leverage
Banks have to meet a sales quota on a daily basis and they are willing to earn your business. If you already have an account with a bank and are constantly getting charged for one reason or the other, go into your local bank where you opened the account and talk to your banker about placing a permanent waiver on the account or else you will close your account. It helps to have a good standing relationship with your bank or else they will be pleased to close your account.
You Can Get More Than Just A Checking
Banks have different types of accounts. Some of them call them "Checking Packages" where it consists of a checking account, a savings, debit card, credit card and online banking. Some packages will differ from bank to bank but the concept is the same. Once you find that you need a checking package that offers wire transfers and a safe deposit box but you can't meet the minimum balance to make it free, tell the banker that the only way you will open up an account if there is a permanent fee waiver.
No comments:
Post a Comment