Guide to the 5 Best Fort Worth Checking Accounts Available Now
Deciding on the best checking account option for you and your family in the Dallas-Fort Worth area really comes down to finding a financial institution that best matches your lifestyle and needs. With so many new jobs in the region, there are many newcomers looking to choose between a mega-bank or one of the many smaller Fort Worth credit unions or community banks in the area.
Many consumers look at loans, mortgages, and savings accounts offered by a bank. When it comes to the checking account, however, it feels a little more personal. There are many things to consider when deciding on which Fort Worth checking account best suits you.
Where the other products are very much commodity products, the best checking account product will come down to how it best matches up to your wants and needs. For example, it is easy to compare two automobile loans. When a typical consumer chooses a car loan, they are looking for a low interest rate at a term that suits their budget. However, Fort Worth checking account rates are typically minimal anyway, so it comes down to much less tangible factors.
What Makes a Great Fort Worth Checking Account
Sure, you can look at the low hanging fruit such as fees and minimum balance requirements. While home prices were escalating for the better part of the past decade, lending became the lead dog at most financial institutions. Banks needed cheap sources of funding, so they invented the idea of “free checking”. In other words, there was no minimum balance requirement on checking accounts for access to the benefits that a bank or credit union can provide. In addition, as a way to attract more customers, fees became almost extinct.
Today, the banking landscape has changed drastically. Lending has dried up compared to the past decade, and Fort Worth banks are not as willing to relax the minimum standards to bank someone. Furthermore, with credit not as prevalent, banks and credit unions are looking at their checking account offerings as potential revenue stream. That simply means that customers need to more vigilant in their choice to make sure they are not getting into a bad financial situation.
The main levers that banks and credit unions use are higher monthly service charges for minimum balances not being met, activity-based fees such as ATMs or excessive teller use, and — the main source of profitability — overdraft fees. Understanding your behavior and being honest with your financial situation will help you avoid putting yourself into a situation with a bank or credit union that will end up costing you hundreds of dollars per year in extra fees.
With all of that in mind, let’s take a look at a few of the best offers that are currently available for checking accounts in Fort Worth.
Best of the Best Checking Accounts in Fort Worth Today
- Texas Capital Bank. There are many different Fort Worth checking accounts and options when it comes to the great people down at Texas Capital Bank. The one most appealing to everyday Texans is the Capital Group Banking account. This account is designed for individuals whose employers have a banking relationship with Texas Capital Bank. All you need to do is sign up for direct deposit of your payroll and you get a free ATM/Visa CheckCard, free first order of checks, free bill pay and online banking, unlimited transactions, and a low minimum opening balance of $100. You also get four fee-free ATM withdrawals per month, as well as no fees from Texas Capital Bank for using a non-network ATM.
- Fort Worth Community Credit Union. Many people just want to pay their bills and have some extra spending money with their checking account. If that is the case with you, then you probably want to become a member of Fort Worth Community Credit Union and open a Care(free) checking account. This account has no monthly minimum balance requirements, free online statements, free bill pay and online banking, free mobile banking, and the ability to earn monthly dividends. It is hard to find an account that is better suited for the fine residents of Fort Worth!
- Prosperity Bank. Prosperity Bank has put some thought into their product offerings. They have accounts that can meet many different personal situations. Their best offering has to the Free Checking with e-Statement. There is no minimum balance fee on the account and the minimum balance to open the account is only $100. This account does not require direct deposit, and offers unlimited ATM, debit card, and check writing transactions.
- Pinnacle Bank. From time to time, a bank will run a promotion to drum up some business. Pinnacle Bank is currently doing just that. They are offering $100 to anyone who wants to open a PinnStar Free Checking Account. This account provides the accountholder with free online banking, free bill pay, free debit card, and most importantly, no hidden fees.
- APCI Federal Credit Union. Like many credit unions, APCI Federal Credit Union provides basic accounts with no hidden “gotcha” fees. With their Share Draft Checking account, they have no minimum balance, no monthly service charge, dividends paid monthly based on your average daily balance, and scores of other free options.