How EVERYONE can have a FREE checking account...

[DHK]

... without payroll direct deposit or minimum balance requirements?

Solution: Open 2 accounts - one at a bank and one at a credit union.

I recommend a credit union that will allow you to make electronic fund transfers from your credit union account to your bank account.

The BANK will see your electronic fund transfer coming IN the account as a direct deposit - therefore, your account is FREE. (You might have to send $100+ into the account each month to ensure that the bank "recognizes" the direct deposit.)

This way, you can keep the majority of your funds in a higher interest bearing account at the credit unions, and still have the convenience of a national bank.

FYI: Bank of America and Wells Fargo offer free checking accounts with direct deposit. (Wells Fargo requires a minimum direct deposit of $100 per month.)

Digital Credit Union offers the electronic funds transfer from their account to any account with another institution for a $2 transaction fee.

(I also have an account with Wescom Credit Union that allows me to transfer funds between Wescom and my other accounts for FREE. You have to live, work or worship in southern CA.)

FYI, it is not POSSIBLE for the bank to "hold" these funds, as they are electronic credits to your account and available immediately that day.

[Xanathos]

I should add into this thread that Washington Mutual(for those of us who live on the west coast) offers COMPLETELY free checking with no balance requirements on all their personal *and* business accounts. I think everyone knows about the personal account one, but the no minimum completely free business account is the only one I've ever come across. Those of you who don't have WM, what DHK said is gold, but those who have them in your area...it's a lot easier to not have to take the extra step and have 2 accounts.

[DHK]

I should add into this thread that Washington Mutual(for those of us who live on the west coast) offers COMPLETELY free checking with no balance requirements on all their personal *and* business accounts. I think everyone knows about the personal account one, but the no minimum completely free business account is the only one I've ever come across. Those of you who don't have WM, what DHK said is gold, but those who have them in your area...it's a lot easier to not have to take the extra step and have 2 accounts.

Very true and I totally agree.

Yet, if you were interested in building a relationship with more than one institution, this can be a way to do just that.

[WryMuse]

USBank has free checking for students and adults. A direct deposit isn't required, nor does one need to have a minimum balance. The account comes with a free debit card and online banking and a really great (and completely free) bill pay system.

An extra benefit for me was that they give accounts to people who are on chexsys, no questions asked, and no limitations. They're a really great bank. The people are friendly and willing to bend over backwards to help people. I had went to 12 different banks (and credit unions) in my area and no one would even give me a chance.

Something else I find cool is that if a customer waits in line for more than 5 minutes, USbank gives them 5 dollars. I've received this 3 times so far. It's nothing extrodinary but I think it speaks highly of the bank.