Bank On It

Having a checking account does not need to be expensive, and a checking account can much less costly than using a check-cashing service. Many banks and credit unions across Massachusetts offer low-cost checking accounts that require only a small amount to open and you can maintain an account with little or no monthly fees.

Below are links to information that can help you learn more about "Bank On It!" and help you find the best checking account for you. Not only will a checking account save you money compared to the fees of other options, but it will help you create a solid foundation for future financial services like a car loan or a mortgage.

This publication from the Office of Consumer Affairs and Business will describe the benefits of a checking account and provide details on Basic Checking Accounts.

In September 2010 the Division of Banks published a report that detailed the fees associated with check-cashing services. The report found that annual check-casher fees can range from $139 to $1,424 per year.

Have more questions? Get in touch with one of these organizations that can help you make sense of the financial landscape and guide you toward appropriate options.

On October 20, the Office of Consumer Affairs kicked off the "Save Money! Bank on It" program at DotWell's Codman Square Health Center. The Office was joined by banking and community organizations to announce the program. To see photos like the one below of Angel Gonzalez, please click  here. You can watch video of the event below.