Bank With No Fees [Checking and Savings]
A message and a $50 bonus
I sent this info as an email to all my subscribers yesterday but since debit card banking fees are such a hot topic right now figured I needed to share it publicly. More on the $50 bonus in a minute.
I saw a World News special last night about how so many American s are fed up with big banks and their new fees, specifically the $5/month fee Bank of America is charging customers for using a debit card. That is just horrible charging us to use our own money where will it end?
I saw the light years ago and did A LOT of research into what banks give great service with no fees. I found three solid options.
Rewards debit w/your existing account
This is a perfect option for Bank of America customers.
How can you get 2% rewards cash back on all debit purchases, and 5% on select debit purchases without having to switch banks? Simple, use PerkStreet.
Here are some of the benefits PerkStreet delivers:
- Keep your existing bank Sign up and link your PerkStreet account to any other bank account for free. Transfer money when you need it, always free.
- 2% cash back on debit purchases You re rewarded for spending money you already have rather than using credit cards (which I ll never recommend).
Read more about PerkStreet Financial Rewards Debit and sign up if it suits you and you re ready for a simple debit card change.
No fee checking accounts
The banks I recommend lock, stock, and barrel are Capital One 360 and Ally Bank. They are both online banks, that also allow for paper checks if you so desire. The reason they can survive and even thrive in this economy is because they have no brick and mortar branch offices to maintain and that savings gets passed straight down to us.
The other recommendation I have is to open an account with your local credit union as a supplemental account (or clearinghouse if you will) for your online accounts with either Capital One 360 or Ally.
Personally, Betsy and I have accounts with Capital One 360, Ally, and our local credit union, but we mostly use Capital One 360 they are simply fantastic and I recommend them in full confidence.
Read more about their checking accounts by following the links below and make the switch if you like what you see.
And savings accounts
If you re looking for information on savings accounts, use these links for Capital One 360 and Ally Bank .
Let me know if you have any questions and I ll do my best to help.
Betterment is one of my two favorite ways to earn interest on my savings! They have an awesome program for the Average Joe to save and invest simply and effectively. There are no minimum balance requirements and no transaction fees. Read my Betterment Review or open an account to get started earning now.
Article by Matt Jabs
Matt has written 321 articles for Debt Free Adventure!
Matt created Debt Free Adventure to help people pay off debt so they can build wealth and give generously. He is passionate about holistic stewardship and helping you pay off debt, save, give, and live your mission. Connect with Matt on Facebook. Twitter. and the +Matt Jabs Google profile.
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3 great choices Ally, Perkstreet and ING. I have accounts at all three and love them!
2% back on PerkStreet requires a $5k monthly minimum. Otherwise, it is 1% cash back. I am confused why you would recommend keeping your existing account if there are monthly fees attached to it. That would defeat the purpose of the savings of PerkStreet card. It would be like using a rewards credit card but carrying a balance on it.
The BOA fees are only for debit card use, so people who don t want to switch could keep their checking account but use the PerkStreet debit card to avoid the fees and earn rewards.
USAA is open to everyone for banking not just military members. No hidden fees just free bank accounts with ATM fee reimbursement.
Agree that Ally is a great online bank for savings and 2-month penalty 5 year CD.
My friend Rodney is a veteran; he uses USAA for everything. There offerings to non-military is a newer thing so thank you for bringing this up I have heard they are a very solid online bank, though I cannot verify that from personal experience.
Maybe it s time we open up accounts with credit unions
Yeah, that s one of the suggestions.
I m actually currently banking with a credit union and they charge me $5 a month just to have a checking account. I think I might consider doing away with it and going online.
I say go for it if it saves you $5 every month.