More Money Podcast - No-Fee Banks in Canada & USA - Money Minute with Jessica Moorhouse

Episode Date: January 17, 2020

Welcome to my new weekly series on the Mo' Money Podcast called "Money Minute with Jessica Moorhouse"! I love doing interviews for this show, but sometimes I just want to talk to you directly and share some tips or pieces of wisdom that I think could help you on your personal finance journey...all in just a few minutes per episode. This first episode is me sharing 5 different banks that offer no-fee chequing accounts in both Canada and the US. If you're paying monthly bank fees, I challenge you to calculate how much you're spending on bank fees in a year. You may be surprised! Just think of what you could do with that money instead if you switched to a no-fee bank. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hello, hello, hello. I know you're probably very surprised to see me here on a Friday. Well, it's a new year. It's a new decade. And I thought, let's space things up on the podcast a little bit. Because I always have amazing guests on the show. But sometimes I just want to get on here and just talk to you because I like to talk, as you may have guessed. So I am doing this new series every Friday called Money Minute with Jessica Morehouse, where I will share my thoughts, my opinions, or some tips or just really helpful information in just a few short minutes. So let's get to the first one of 2020. Okay, so for this first Money Minute, I wanted to talk about something that I'm very passionate

about, which is trying to get rid of bank fees. So if you are currently paying fees to just, just for the privilege of having a checking account, I challenge you to think differently and maybe make a change this year and save some money on some bank fees. Cause there are a ton of banks out there that charge zero bank fees for having a checking account or savings accounts and all that kind of stuff. So I'm going to talk about Canada and the US because I know there's lots of you amazing American listeners. So let's start with Canada. So these are five banks that exist that you can open up a checking account with and they will charge you zero monthly bank fees for having a checking account with them. Alterna Bank, Motive Financial, Modus Bank,

Simply Financial, Tangerine. I should also mention that this is not a sponsored episode. No one is paying me to talk about these brands. I'm just giving you some ideas so you can continue to do your research after listening to this episode. Now, USA, we have Capital One, Ally Bank, Charles Schwab Bank, Discover Bank, and USAA Savings Bank. Those are five banks that offer checking accounts with no fees. Obviously, the USAA Savings Bank is only for military members and their families. But still, if you fall into that category, maybe it's worth looking into. So there you go. That is five banks in Canada and five banks in the US that exist that you can open up a checking account and pay zero bank fees and probably honestly get exactly the same amount of value of with some

other big bank that does charge you fees. So just take this moment to think, hey, is it worth switching to another bank to save that 10 or 15 or $20 a month paying those bank fees? Just think about it. And then look at some of those options. Do your own research, do your own due diligence, and then make a choice that is right for you. And that is my money minute. So a little self promo here. If you're not already in my Facebook group where I get actually a ton of these types of questions from people and I get to answer them in real time, make sure to go to facebook.com slash group slash money life balance and get into my free Facebook group and join the party. Also, if you want to stay up to date of all the things that I am up to, and there's a lot,

make sure to get onto my email list, jessicamorehouse.com slash subscribe is where I can do that. And one last thing, I've got a great YouTube channel. If you want to learn more about free checking accounts and all these types of things, I've got videos about them as well. Go to jessicamorehouse.com slash YouTube. It will take you right to my YouTube channel. Make sure to subscribe and like. I would really appreciate it. All right. That is it for me. I hope you enjoyed it. I'm going to do a lot more of these. So get ready every single week for two times the Jessica. And I'll see you back here next Wednesday with a new episode of the Mo Money Podcast.

Have a great weekend. This podcast is distributed by the Women in Media Podcast Network. Find out more at womeninmedia.network.