The State Organization Index provides an alphabetical listing of government organizations, including commissions, departments, and bureaus.
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Savings accounts allow you to gain interest on money you’ve deposited into the account. Your savings account fees are are often based on your balance or other products and services you use. For example, if you keep a $200 balance or use electronic statements your savings account may not have a monthly fee. Using an insured financial institution will ensure your money is safe and secure.
Checking accounts allow you to deposit and cash checks in addition to offering easy access to your money for transactional needs. A checking account usually comes with a debit card to use to withdraw money or make purchases. Account fees may vary based upon your account balance and the number and type of transactions you make each month. For example, if you have direct deposit or make 10 debit transaction per month, your checking account may not have a monthly fee.
Massachusetts state law requires state-chartered banks to provide no cost checking and savings accounts to anyone 18 years old or younger or anyone 65 years old and older. Some federally chartered banks also have special accounts that may offer reduced or limited fees.
Are traditional bank or credit union fees too high? The Massachusetts Basic Banking Program may be right for you. Many state-chartered banks and credit unions offer low-cost savings and checking account alternatives. This is done to expand banking products and services to consumers with modest incomes.
Basic Banking Savings Account Guidelines:
Basic Banking Checking Account Guidelines: