While the free checking account as we know it today has been offered by banks and credit unions since 1982, it has recently come under sever attack by the nation’s biggest banks – particularly the four mega-banks who’ve all dropped the account and replaced it with accounts requiring a minimum balance requirement and a monthly service fee. These new checking accounts are very unpopular with most consumers.
Aiding the mega-banks in their efforts to make free checking obsolete are a handful of third-party vendors specializing in financial consulting. Over the past couple of years a number of consultants have written articles predicting the demise of free checking. Of course, what these consultants are really selling is their consulting services where they’ll come into a client bank and revamp its checking product line sans free checking, of course. This effort to eliminate free checking has been aided by many in the media who’ve jumped on the “free checking is obsolete” bandwagon.
Unfortunately, many of these articles are written by people with little, or no, experience with free checking. As a result, some of the articles contain misinformation. “Our goal with the FreeCheckingInformation.com website is to be the ‘one-stop’
The site aggregates all the free checking articles appearing in the media while adding a significant amount of original content – most of it written by a long-time banker with over 10 years of hands-on experience marketing free checking to consumers in several states. He keeps up-to-date on everything happening with free checking and has written several blogs about it. In addition, the site contains a list of over 90 different names for the free checking account along with a growing number of marketing samples.
Results of the simple, 22-question survey, titled “Free Checking Account Survey,” will be posted on the website where the data can be quickly accessed by bankers, financial writers, consultants, and anyone else seeking up-to-date consumer feedback about free checking.
“Our goal is to do our part to ensure that a majority of the nation’s community banks and credit unions continue offering America’s favorite checking account – Free Checking,” adds Mr. Kahn.
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An independent site not owned or maintained by any bank or credit union or third-party vendor serving the financial services industry. - http://FreeCheckingInformation.com