Compare checking accounts and reloadable debit cards from local banks and credit unions for free
- Requires no personal information
- Provides unbiased results
- Estimates bank fees
- Takes only minutes
Home | FAQ | About Us | Contact Us
Free and basic checking accounts share many of the same qualities. Free checking accounts are really just basic checking accounts that do not charge a monthly service fee. Most free and basic accounts do not earn interest on balances and do not come with advanced account features. These accounts appeal to banking customers who carry a low balance, don’t qualify as a senior or student, or those that want to avoid paying high monthly service fee.
Banks and credit unions typically provide bank shoppers with a free or basic account among their array of account options. Both types of accounts are very similar, but the main difference is service fees. Free accounts have the word “free” in their name because customers are not charged a service fee for maintaining the account, regardless of their balance. Basic accounts (which may also be referred to as “value,” “standard” or “essential” accounts) on the other hand, typically do require account holders to keep some kind of (relatively low) minimum balance, enroll in Direct Deposit, or perform some other kind of banking activity, like online billpay or a minimum of debit card purchases, each statement period in order to waive the statement service fee.
Although features vary from bank to bank, most free and basic accounts come with standard account features at no extra cost. Institutions encourage their customers and members to use these electronic features because they are more efficient because they take place of traditional transactions that require human labor, costing banks more money. These standard features include:
Checking account features that cost the institution money when used are not usually included with free and basic accounts. These common features include:
Compare checking accounts and reloadable debit cards from local banks and credit unions for free
- Requires no personal information
- Provides unbiased results
- Estimates bank fees
- Takes only minutes
Features of Accounts / Institution
Types of Accounts
We conduct our own research for the largest US banks and we audit the information provided by community banks and credit unions.
Our branch location database is sourced from the FDIC and is updated with information provided by banks and credit unions.
All deposit accounts in FindABetterBank are insured by the FDIC or NCUA.