the Price of Checking Accounts

Basically, I've got a normal checking account at a local bank that is popular here in York County Maine. There is no monthly fee, no minimum balance, and any ATM fees I incur elsewhere are automatically refunded to my account. The only fee is if you want paper checks, which not everyone even uses now. The checking account doesn't bear interest.

I've had this account for over a year now, and I've never had to pay for anything for it at all. This includes two replacement ATM cards (that's right I lost it twice!), frequently carrying a low balance. I find that the local bank provides friendly service, and it's nice not to need an ID every time I make a withdrawal since everyone knows me. They've never charged me for their services. On one instance I had bounced a check by a small amount, and they were very nice about refunding the fee.

Check around when selecting a checking account. There's no reason to pay every month for something you can get for free. I'm no financier, but many banks seem to be willing to give these services away, so why not take advantage if you can? One thing to consider. If your local bank offers free checking, but does not refund ATM fees, you might end up paying more, especially if you travel. In a situation like that, it might make more sense to go with a bank that charges a small monthly fee but will refund your ATM fees.