What is Free Checking - Is It For You?

Lincoln Federal Savings Bank offers two checking account products that are FREE! Let’s uncover the definition of free and help you determine which of these accounts is best for you.

By definition and regulation, a checking account can only be advertised as free if there are truly no fees associated with the account.  This means that there are no monthly maintenance fees, statement fees, or any fee associated with the activity that takes place within your account. Free does not cover services that may be available by our bank such as Account Balancing Assistance, Check Orders, or Stop Payment Fees.

Free Option #1: Free Checking

This account is great if you’re looking for a basic, no-frills checking account. This account has all of the convenience features that you’d expect with any checking account – mobile deposit, online banking, debit card, bill pay, etc. This account does not accrue interest.

If you keep a lower account balance and/or don’t wish to accrue interest, this account is for you.

Free Option #2: Lifetime Checking

No matter where you are on your financial journey, this account can be for you! Lifetime Checking Account customers who use their debit cards, login to online banking, and receive E-Statements are eligible to receive a higher monthly interest rate! Click here to review the qualifications. If you don’t use these services, that’s okay! You can still have this account for free and earn some interest. If you decide to take advantage of these convenient services in the future, you’ll automatically begin earning a higher monthly interest rate.

If you want a checking account and interest, this account is for you.

Talk with a personal banker today!