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Justin Pritchard

Somehow we Still Bank for Free

By , About.com GuideSeptember 13, 2011

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Bank profits are getting squeezed and they're making up for it by nickel-and-diming customers.  However, many are still able to bank without paying fees.

MyBankTracker.com reports that 71% of consumers claimed to pay nothing in bank fees every month.  If you're not part of that group, you can find a way to join it if you want (or you're just paying better attention to what happens in your bank account).

Free checking is under fire, but it's not extinct. Online banks often offer the product, as do small banks and credit unions. Even big banks will let you bank for free if you meet a few criteria such as making automatic deposits to the account.

Note that 'free' doesn't necessarily mean you're getting a great deal. Keeping huge deposits in your checking account (or a linked savings account) may not be your best bet if you can earn more interest -- after fees -- at another bank.

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