Where can I get a free savings account?

Question

I have a Student Checking Account with Bank of America, but it's just too easy to spend when I have a debit card. I'm just wanting to put away about 1/3 or my paycheck every month. Bank of America charges $3 a month just to have it if you have less than $300, which sort of accumulates over time and really doesn't help me "save". Anybody know of any banks that give free savings accounts?

Answer 1

Open an account at an ebank like ING direct.  It's a bit more difficult to get to the money, the account is free and the interest rate is better than you can get at a brick and mortar bank.  You can also set up an automatic withdrawal from your checking account to save regularly.

Answer 2

WAMU is a well known bank that offers free checking.  They also offer a nice free online savings account with a high interest rate. Check out http://www.bankaround.com for more banks.

Answer 3

Try INGdirect.com or etrade.com

Both have free savings accounts with no minimums and they both have superb interest rates.  They're on-line banks so they have low costs which is why they charge no maintenance fees.

Answer 4

There are several banks offering online savings accounts paying ~ 3 1/2 percent interest. You simply link them to your current checking account.

FNBO, HSBC are two.

Answer 5

wamu.... free checking with direct deposit