New York CNN —
Most banks offer free checking if, for instance, customers have their paycheck direct deposited or they maintain an average minimum balance.
The majority of people with checking accounts (73%) take advantage of the option, according to a 2023 Bankrate.com survey.
But if regulatory costs go up for banks, free services like checking may go away, at least if they follow Chase’s lead. Marianne Lake, the head of Chase Bank, told the Wall Street Journal last week that Chase might stop offering free checking and other free banking services.
“Consumer banking
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