Bank
of America in some states will start testing the type of checking account. This
new account has the requirement of a flat monthly fee which is $4.95. This fee
will not be waived. Another major featured offered by this account will be lack
of dreaded overdraft fees.
The
structure of this account is different from the already existing two types of
accounts named as “MyAccess” and “Interest Checking” accounts in which the
customers have the facility of waiving the fee every month with direct deposit
or with minimum balance. Not to forget some banks such as
TD
Bank’s also has the same account structure of flat but low monthly fee of
$5.99. On the other hand the variation provided of overdraft-free part also
isn’t something entirely new in the industry. Banks like Washington Savings
Bank offers this kind of account.
Apart from the
new overdraft free account, many people will surely be interested to know in
details about savings
account interest rate too. Though the global recession for a long time
haven’t allowed people to think of saving but gradually it is expected that the
local and international financial situation will stabilize. It is much better
to start gathering information earlier so one can plan accordingly. Having
information of saving account rates by different banks can help to
choose and select the one for future savings.
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