Where's the Lowest Price Checking?
The best is low or no fees, and free checking.
Many do not offer this. See who does below.
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Gen Zs & Millennials Start with 1 Account - Low Cost Checking - Where is It?
Two Criteria Tell Us Where to Look
Lake Forest, IL (January 29,2018) Consumers want checking with no fees, no balance requirements, no conditions, no rewards and no relationship. "Only 13.3% of all depositories offer checking accounts meeting these criteria," says Michael Moebs,
Economist & CEO of Moebs Services, an economic research firm who surveyed 2,917 financial institutions (FIs) in December, 2018 to determine consumer checking needs.
Moebs identified depositories offering free checking plus an overdraft price less than the national median OD price of $30 to apply these criteria. OD price was used since ODs are 70% or more of all consumer fee revenue. "This survey started in 1986, and the FIs discovered in this latest survey meeting these criteria, got our attention," points out Moebs.
Written By: m.moebs
Date Posted: 1/29/2019
Number of Views: 23