Account provides an alternative during period of rising monthly maintenance fees
Bank Iowa today announced the addition of FreeBird Checking, a free checking account for both business and consumer clients. The product aims to be an alternative for bank clients during a time of rising financial services fees. According to the latest MoneyRates.com Checking Account Fee Survey, the average monthly maintenance fee is now $13.58 or $162.96 per year.
“Every dollar our clients earn is a potential stepping stone to financial freedom,” said Bank Iowa Vice President of Marketing Josh Fleming. “By limiting how much they have to spend on the basics of money management, we are helping them travel that path more efficiently.”
FreeBird Checking accounts can be opened with an initial deposit of $100, and there is no minimum balance required. No FreeBird Checking accountholder will ever be charged a monthly service fee, and there are no transaction limits on the account. Additional free features include online banking, mobile deposit, mobile/text banking, bill pay, eStatements, debit card and identity theft services.