Open Free Bank Account

Everyone Should Have a Free Bank Account

Regardless of whether you want to open a savings account or a checking account, you should try to open a free bank account. There are many banks that offer free bank accounts, both physical banks and online banks. There is a new online bank called Ally Bank that you can open a free bank account that is totally online, but it allows you to use any ATM of any bank of your choice for free. Ally Bank will actually reimburse you for the ATM fees that are charged to you by those bank ATMs.

The process of opening a free bank account can be made easier if you already have a good credit history. Have you ever been denied a bank account before? If so, it might have been due to a subpar credit score. If you have been denied a bank account, you should make sure to check your credit report and have all incorrect information removed to help increase you credit score. Once you have improved your credit score, you should have a much easier time applying for a bank account, and you will find it much easier to be approved to open any type of bank account; that includes a free bank account.

Sometimes when a bank customer is denied a chance to open a bank account, they lose hope. Just remember that if at first you don’t succeed you should try and try again. Not every bank is going to approve you for a free bank account, regardless of whether it is a free savings account or a free checking account. If a certain bank has very rigid conditions that will keep you from opening a free checking or savings account with them, there are other banks that may be more open to your free bank account request.


Search for Free Bank Accounts

Everyone should have a bank account, better yet two bank accounts. One should be a savings account and the other should be a checking account. The only possible exception to this would be if your checking account is a high yield checking account. By this I mean a checking account that is earning you interest on your deposits. Everyone needs to be conscious about having an active bank savings account where you regularly make deposits into.

It is important to plan for your future and there is no better place to begin than with an account that allows you to save money and grow your savings. While most institutions might offer you a very low interest on your deposited money, there are many banks that are offering a decent rate of return on your money. Many of the free bank accounts have a high yield savings account that will pay you a higher rate of interest on the many that you deposit. Some of these free bank accounts also have a high yield checking account where they actually pay you a very competitive interest rate on the money in your free bank checking account.

The bottom line is that everyone needs to have a bank account and while many banks may not be interested in your business; there are many banks who will be interested in your business. At the end of the day it will be worth it to you to stick with it until you find a bank that will let you open a free bank account with them. If you are now forced to use a check cashing store to cash your check, over the course of a year the amount of money that you can save by having a bank account to deposit your money can add up to a significant amount. With a free bank account you can gain access to things that you didn’t have before and one of them might be the use of a free debit card. A free debit is sort of like a credit card, except you can only spend money that you have available to you. If you don’t have any money, you don’t spend any money, and this is a great way for you to become more conscious of your money.

When you open a free bank account you also gain access to online banking and in most cases, you will be able to pay your bills online for free. These are things that you should definitely take advantage of because they allow you to keep an eye on your money from anywhere that you have internet access. Also, with the free online bill payment feature, you can set up all of you bill to be paid at one time, and with a few clicks you can pay all of your bills and avoid late payments and late charges. If you get into the habit of making all of bill payments at one time, you will be able to pay all of your bills in a timely manner and never have to worry about late fees again. In return of making timely payments, your credit score will improve and more banks and businesses will want to have your business.