I’ll start by setting the record straight on the origin of the free checking account. It wasn’t created by a banker. It was created in 1982 by a team of experts working at a small direct mail agency located in Lincoln, Nebraska.
It was one of seven unique checking accounts that were combined with a free gift and marketed as a complete turnkey marketing program under the name of Totally Free Checking and a Free Gift Too!
Remember when Forrest Gump reminded us that “stupid is as stupid does?” When Bank of America and Chase dropped free …
Read moreIs Dropping Free Checking a PR Blunder for Wells Fargo?
Free checking is labeled “free” for one simple reason – the word “free” is the single most powerful word used …
For the past two years, we’ve all heard the mantra: free checking is dead. It was widely assumed in the …
This is a very informative article on free checking profitability from Bob O’Meara, director or research for the Raddon Financial …
Read moreFree Checking Profitability and the Role of Fee Income