We’ve all seen the headlines that free checking is either dead or on its way out.
We’ve read the newspaper stories that the mega-banks have dropped free checking and are busy adding new or higher minimum balance requirements and adding monthly service fees to their checking accounts.
Some banks are totally revamping their checking account product line to accommodate all these changes.
Yet, when you look below the surface, you find a different story.
Free checking isn’t going away, it’s just going into stealth mode at some of the nation’s largest banks – and perhaps at some smaller ones too.
It’s simply going by another name.