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Free Checking for 50 and over Consumers

2011-12-05

In a time when banks have begun charging monthly debit fees, baby boomers may be able to find discounts based on their age and experience. Our research reveals some of the best checking accounts for consumers over 50 - and the best part is that they`re free!

A lot of banks have begun marketing to older consumers because of the stability they provide. Older consumers are used to paying bills, and usually tend to pay them off on time. If you are of age, now is the perfect time to take advantage of free checking accounts and debit cards. Here are list of our top 10 checking accounts for consumers over 50 years old.

Bryn Mawr Trust - Centennial Gold 50 Checking
Cascade Bank - 50 Free Interest Checking
Alliance Bank - Alliance 50 Checking
Bremer Bank - Senior Checking
Amegy Bank of Texas - 50 Free Checking
Cashmere Valley Bank - Club 50 Checking
The First - 50 Free Interest Checking
Citizens First Bank - Senior Interest Checking
Farmington Bank - 50 Plus Checking
First Chicago Bank and Trust - 50 Free Interest Checking

A lot of the banks mentioned are smaller community banks, so if a bank is not mentioned in your area, try researching the credit unions and smaller banks in your vicinity and ask them about the free checking accounts that they have for consumers over 50. Some banks are generous to even offer interest on these free checking accounts for baby boomers.

With age comes wisdom and life-experience. Apparently, with age also comes free checking. Banks and credit card issuers take note of the work that most senior citizens have acquired throughout their financial histories. Because of this consumers who are over 50 may be eligible for extra discounts that consumers under the age of 50. Older consumers also tend to have more money than younger accountholders and therefore are more valuable in the banks eyes.

Banks across the nation have begun charging monthly debit fees to make up for lost revenue after the Credit CARD Act of 2009 reduced the amount of swipe fees merchants can collect. The change resulted in billions of dollars in potential losses for banks across the nation.