Looking for a Free Checking Account with High Marks for Customer Service? The Schwab Bank High Yield Investor Checking May Be for You.

This article continues exploring some of the best truly free checking accounts out there. If you're looking for a strong, all-around free checking account that has won awards, you may be interested in the Schwab Bank High Yield Investor Checking. This account has been voted “Best Checking Account” by Kiplinger’s Personal Finance for 2008 and 2009.

There are no minimum balance requirements, no monthly fees, and customers can get unlimited reimbursement of ATM fees for withdrawing funds. Additionally, free online bill pay and free checks are included in the account. The account also pays 0.25% APY on all balances, which is greater than many standard savings accounts. This is a variable rate, so the rate will fluctuate with market conditions. There is once catch, though: the checking account must be linked to a Schwab One brokerage account. The Schwab One brokerage account is also free and it has no minimum balance requirements but, of course, brokerage accounts are not FDIC insured and there is no bank guarantee. As such, the investment in your brokerage account may lose value. However, if you have some extra funds to play with, this could be a great opportunity to get a free checking account (which is FDIC insured) and also have an open brokerage account ready to go.

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