3 Common Checking Account Restrictions

  • May 5, 2020
  • By CoastHills Staff

If you’re looking to open a new checking account somewhere — you’ll have options. Maybe too many options, for that matter. There are thousands of banks and credit unions to choose from, with individual features and tons of benefits  to sift through. Even though a lot of checking accounts are readily available, there are some specific things to look for in a good checking account.

Here are three checking account restrictions to keep in mind when searching. 

1. Minimum Balance Requirements

Some checking accounts require a certain amount of money to be in them at all times. There are banks and credit unions out there that have minimum balance requirements as high as thousands of dollars. Don’t let your financial institution work against you. Benefit from a low or zero minimum daily balance requirement.

2. Low Dividend Earnings

One of the nicest things about checking accounts is their ability to pay you dividends. You don’t need to play the stock market to earn dividends. Any checking account worth its salt will offer the same benefit. Unfortunately, many large, national banks don’t offer the interest rate opportunities you deserve. Some banks have percentages as low as 0.01 percent. Don’t restrict your money with low dividend earnings.

3. ATM Withdrawal Fees

When you’re on the go, ATMs can be a real luxury. Getting cash in hand quickly is one of the great things about checking accounts. But if you use ATMs time and time again and are being charged for it, that’s no way set your money free. Watch out for surcharges and limited ATM use on any prospective checking account you’re considering. You deserve an account with a wide array of fee-free ATM access.

Freedom Plus Checking

Luckily, CoastHills Credit Union offers  two account options with loads of benefits. These include no minimum balance requirements,1 high-dividend earning potential and more than 30,000 surcharge-free ATMs across the country. Invest in yourself by investing in a strong checking account. Learn more about Freedom Plus Checking today!

1 Minimum balance to open is $50. There are no minimum daily balance requirements.

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