This blog is for informational purposes only and not an offer of any specific account or service. For current details on our checking accounts, including terms and fees, please visit midflorida.com or speak with a representative. Account features and conditions may change. Membership eligibility required.

It’s not hard to understand the allure of a free checking account.

In fact, a better question might be, who wouldn’t want a checking account that doesn’t come with an endless amount of fees and conditions?

However, not all free checking accounts are created equal. You’ll want a free checking account with the following features.

Start your account application with MIDFLORIDA Credit Union.

1. Low or no fees

While a bank or credit union might call an account “free checking,” that doesn’t necessarily mean it is.

Several financial institutions can charge fees on your checking account that might have you paying more than you would for a regular checking account.

In particular, you should stay away from any checking account that has unnecessary fees, such as:

• Minimum balance fees: You shouldn’t be penalized for not having an arbitrary amount of money in your free checking account.
• Maintenance fees and monthly fees: These are usually charged by financial institutions as a privilege for having an account with them.
• Transaction fees: If you’re opening a checking account, you probably want it because you’ll be making several transactions with it.

2. Easily accessible branch locations

In the last few years, online banking and virtual customer service have soared in popularity.

However, there are some advantages to having a physical branch that you just can’t get online.

At a physical branch, you can:

• Get in-person help with any account issues
• Make cash deposits

When you’re looking for a credit union or bank’s physical branch, make sure you can easily access it from either your home or your workplace.

If you have to work to get to a credit union or bank’s physical branch, you’ll be less likely to go there, even if needed.

3. Several ATM locations and low fees

To ensure easy access to your money, you’ll want to make sure you can use several ATMs without incurring fees.

Check if your bank or credit union has a network of fee-free ATMs or reimburses fees from other ATMs. This will ensure you can access your funds conveniently and cost-effectively, no matter where you are.

Additionally, consider the availability of mobile banking options to enhance your ability to manage your finances on the go.

4. Low minimum deposit requirement

You’ll want to look at the minimum amount you need to deposit in a free checking account to open it.

Lower minimum deposit requirements are almost always better than higher ones, but some free checking accounts might offer enough perks to make the minimum deposit requirement worth it.

5. A robust online banking platform

Finally, when you open a free checking account, you should ensure that the online banking platform and mobile app have the necessary features.

What these features are depends mostly on you and your needs, but some good baseline features include:

•  Ability to transfer money between accounts
• An electronic bill pay service
• Ability to transfer money to outside accounts

In addition, you might also want some special perks, such as:

• Mobile check cashing service
•  Credit score reporting
• Budget creation

If you’re not sure what features a credit union or bank’s online platform has, talk to a teller. They’ll be happy to answer your questions and might even be able to show you a sample account.

A free checking account should have worthwhile perks

Look at any checking account advertisement, and you’ll get a long list of potential perks.

These can include:

• Early paychecks
• Budget planning tools
• Financial education material
• Mobile deposit

These perks may all sound attractive, but you must ensure they’ll be useful to you.

Mobile deposit can be very convenient, for instance, but it won't be that helpful if you don’t usually get many checks.

Open a free checking account at MIDFLORIDA today

A free checking account offers many advantages, but before you open one, you should review its features to ensure you get the best account for your needs.

Ensure the free checking account you choose has no unnecessary fees, and you can access it easily through a physical branch.

You’ll also want to ensure you have enough money for the account’s minimum deposit requirement and that the online banking platform and mobile app have the necessary features.

If you’d like to get a Free Checking account, become a member of MIDFLORIDA today.

Even better, if you meet the conditions, you can get a $200 bonus¹ when you open a new MIDFLORIDA Free Checking account. Find out more today!

Further Reading Recommendations

Do You Need Multiple Checking Accounts? Pros and Cons

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5 Tips for Finding the Right Checking Account Features

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Should You Open A Bank Account Online Or In Person?

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¹ Offer valid as of August 1, 2024, and may be canceled at any time. MIDFLORIDA Credit Union membership and eligibility requirements apply. See associate for details regarding fees and terms. To qualify for the $200 incentive, you must open a new Free Checking account with direct deposit ($500 cumulative which must post within 60 days of account opening; cash transfer app deposits do not qualify); accept and open online banking, eStatement, and a debit card; and complete 5 debit card purchase transactions which must post in one calendar month (to be completed within the first 60 days of account opening). No dividends are paid on Free Checking. Annual Percentage Yield is 0.00%. Limit one incentive per Social Security number. Past checking account holders and previous recipients of checking account incentives are ineligible. The incentive will be deposited to new Free Checking account after the qualifications have been met, and will be reported to the IRS. Minimum to open Free Checking is $50.