No Fee Checkings Accounts

I hope everyone that reads my blog understands that my MAIN philosophy is to not pay any fees. Here is an explanation of what I mean. If you put in $1000 into a savings account earning nothing, than that $1000 will not be able to have the same purchase power in five, ten, or twenty years. You will be indirectly losing money to inflation. That is why saving your money is so important and I'm sure everyone that reads this blog understands this.

Paying fees for checkings or savings, or paying extensive fees for brokerage management, commissions, is also diminishing your purchasing power. If you go to an ATM machine and take out $20, you will be assessed a $1.50 from the ATM machine and $1.50 from your bank. That's $3 just to take out $20; which is a 15% fee. 15% fee and nobody is rioting over that. Imagine if there was a 15% tax on everything you buy.

People are paying maintenance fees, balance inquiry fees, and many others just to do their everyday money business. I switched to USAA checkings because of several reasons.

1. Try finding internet information about military banking on say...Wells Fargo. There is none. You have to call...that's right...you have to use the telephone.
2. USAA is only for military members so the whole site is on the internet.
3. Free checks....FOREVER.
4. No Annual Fee
5. No ATM fees and you get refunded up to $15 of other ATM machine fees.

So check your last couple bank statements and see if you have any fees. If you do, switch over to another bank or check out USAA checkings.