
ARE YOU PAYING FEES?
I had a conversation with my brother recently and as we talked about Crypto Currency investing/trading, I became aware that he was paying fees for his checking account.
I found it hard to believe that he was paying $13 a month just to have a checking account; shocking. If you are paying fees, simply to have a checking account, here are some options:
- Credit Union. Not everyone can sign up to credit unions but if you have family members that were in the Navy — Navy Federal Credit Union will allow you to join and speaking as a lifetime member — it’s the best banking I’ve ever experienced. USAA is another option but you must be a Widow, widower, or un-remarried former spouses of USAA members who joined USAA prior to or during the marriage and individuals whose parents joined USAA.
- Banks. I’ve found a few banks that offer free checking accounts with zero fees and no minimums. Capital one appears to offer 360 checking. You can deposit checks from your couch, pay your bills online, bank on the go with their mobile app. If you want to search other places — check out Nerdwallet and search there are many options.
Everyone’s situation is different. However, it makes zero sense to me that anyone would pay a bank a fee to hold their money especially since money is digital today. Holding paper fiat in a building is so 90s. As we approach the year 2020, doing business as usual will not help you reach your financial goals. Take charge of your financial health and see if money is leaking out of small holes in your budget.
