Free Checking: Off to the History Books?

Free checking may soon be a thing of the past.

Banks have been forced to make some changes lately, and some of their revenue generators are going away.  If they want to make up for those changes, they'll have to increase fees.

The Wall Street Journal reports that most US checking accounts cost banks more money than they bring in.  As certain fees go away (overdraft protection, for example), the accounts will get even less attractive.

Be prepared to pay maintenance fees or meet minimum requirements on your checking accounts.  If you don't keep much money around, you may be able to keep things free by using your debit card frequently or doing more electronically.

Further reading:

• Debit vs Credit Cards