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This is Jeff Rose from goodfinancialcents.com. Let me ask you a question. How many of you
enjoy paying fees on your checking account?....Didn't think so. I hate paying fees on my checking
account so I know that you hate paying fees too.
So what's another option? Welcome online checking account. Most of us have been raised where
we go to a brick-and-mortar location. You walk inside, talk to a teller, hand them your
check and you're on your merry way. In this day and age, online checking has become much
more popular, much easier, and much cheaper. Let me explain.
I know a few years ago I never would have considered doing online checking. Yes, I do
online bill pay with my brick-and-mortar location, but to not actually have a physical location
where I can go make a deposit and talk to a teller just seemed weird to me. After having
to set up a business checking account, all the sudden we had to start paying fees, and
not just 5 bucks a month. We were paying about $35 a month just to have another checking
account, and it just did not make sense.
I started exploring online checking accounts. Here is what I found: Most of them are free.
Yes, online checking accounts are free! You can go to ING. You can go to EverBank, Perkstreet,
Ally, and all these are going to offer free checking accounts. With that, you're going
to get a free ATM. You can get personal checks. You can get free bill pay. We all like free,
right? Most of these online checking accounts have
no minimums. They don't have any silly charges, and they have awesome customer service. I
talked to a lot of people that have ING online checking and they absolutely love it.
I think one of the biggest hang ups though is how you actually make a deposit. If you
have a check that you need to deposit into your bank, how do you do it? ING and Ally
now offer e-deposits, so you can actually scan the check and deposit it that way, which
is amazing. Technology is absolutely amazing, and ING is taking it one step further where
they are developing an awesome app that you can use on your iphone to help manage your
accounts and also make deposits too.
If all those features weren't good enough to want you to consider doing online checking,
then think about Perkstreet or EverBank where they're actually giving you either high-yield
interest rates on your checking account -yes, you’re actually getting paid in interest
on your checking- or they actually give you rewards for using your checking account just
like a cash-back credit card.
As you can see, online checking is getting very, very competitive. If you're comfortable
doing online access, doing online checking, be sure to head over to the blog and check
out my post for the best free online checking accounts to see if there might be an option
available for you.
As always, if you have any questions, feel free to hit me on my blog or my Facebook fan
page. I will be glad to help you out in any way I can. This is Jeff Rose from goodfinancialcents.com.
Take care.
The opinions voiced in this material are for general information only and are not intended
to provide specific advice or recommendations for any individual. To determine which investment(s)
may be appropriate for you, consult your financial advisor prior to investing.