The smaller proportion of savings associations offering noninterest checking accounts may stem from the fact that savings associations, unlike banks, were generally restricted from providing these accounts before the 1980s; their availability rose a statistically significant 14 percentage points over the five survey years, a change that, along with other factors, may reflect a reaction to the previous restriction.
Statistically significant changes in the availability of the accounts were, however, more pronounced at savings institutions, where the proportion offering no-fee noninterest checking rose 6 percentage points and the proportion offering no-fee savings accounts fell 14 percentage points.
Analysis of the fees charged in connection with deposit accounts must, at the very least, account for the distinctions among noninterest checking accounts, NOW accounts, and savings accounts.
The data on the primary institution and the main checking institution suggest that local depository institutions are especially important suppliers of financial services for households.
Households on average have about 2.4 accounts at their primary institution and about 2.5 at their main checking institutions, regardless of whether they are commercial banks, savings institutions, or credit unions (table 6).
Also, nonlocal and nondepository institutions are almost never the household's primary institution nor its main checking institution.
Most banks already offer low-cost accounts, and so long as an individual hasn't abused a checking account by chronically bouncing checks, he is free to sign up.
These accounts don't offer checking services, which means that bill paying must be done with cash or money orders.
Assume a somewhat different type of card, one that draws on the consumer's checking
account and can also draw on an overdraft line of credit attached to the checking
There are two types of overdraft protection by which your checks will be paid even though you do not have the funds in your checking account to cover them.
A linked account is one which combines all of your accounts at a bank, and may include checking, savings, money market, and certificates of deposit.
Wingspan Bank.com offers a higher interest rate on checking and CDs, and has the ability to scour the Internet for the best rates on insurance as well as mortgages.