It is possible to have personal checking accounts in Knoxville that are truly no fee accounts. Sometimes when a bank advertises a “no fee” checking account you should read the entire disclosure to find that there are some fees that you may have to pay. It can get confusing to have to read all the small print every time you open a checking account. In other cases, when you see “no fees” there really are no fees.
How Do You Know Which is Which?
The easiest way to determine which “free” personal checking accounts in Knoxville are free is to ask! The answer you want to hear when you are learning more about free checking are:
- Small amount to open the account
- No minimum balance needs to be maintained
- Free checks
- Unlimited check writing
- Unlimited ATM transactions
Some banks make you jump through many “hoops” and make free checking accounts full of caveats where you could wind up being charged. For example, some institutions limit the number of transactions on the account, then charge you per transaction once you have reached the limit. Other banks will sneak in fees by charging you for not maintaining a minimum balance. Free is not free if you can only use your checking account 10 times a statement cycle before you must pay $1.00 per transaction. If you write a lot of checks or visit the ATM often those charges can add up quickly.
Free -No Fees
There is a bank that offers personal checking accounts in Knoxville that is truly free of fees. When you consider that checking account fees can be as high as $20 per month, it can mean a savings of over $200 per year so it is well worth it to get more information!
