In 2016, Deloitte surveyed over 3,000 retail bank consumers to find out what people look for when choosing a checking account. Here’s the resulting top five must-haves, in order of importance.
- No monthly fees.
- Online banking.
- Branch close to where they live or work.
- No minimum deposit.
- Mobile banking.
If you’re like me, you looked through that list wondering if your checking account lives up to these standards. I was pleased to discover the Free Checking account offered by Bank of the Ozarks not only meets these, but also exceeds them. With Free Checking, I get Online Banking, Mobile Banking, and access to hundreds of Bank of the Ozarks ATMs and branches, all with no monthly minimum balance to maintain*. Plus, I get online bill pay**, a debit card, eStatements, and the customer service that comes with using the number one bank in the United States.
*Bank of the Ozarks’ Free Checking has a $100 minimum balance to open the account.
**Online bill pay free for the first 15 payments per login ID each calendar month. $0.50 for each payment thereafter.
By Adam Lucas Adam Lucas holds a Finance degree and an MBA from the University of Kentucky. His work has appeared in many major outlets including Yahoo, AARP.org, and GoBankingRates.com.
Monday on the Money is a weekly commentary from Bank of the Ozarks providing financial advice and solutions important to you and your family.