7 Free Bank Services You Might Not Know About

Having a bank account is a given for most people in the U.S., and there are plenty of benefits to it beyond just safe money storage, credit cards, and loans. Many banks offer other free resources that you might not even know about.

Your bank often serves as your first stop for learning about managing money. Opening a checking account at most banks doesn’t cost anything, and if you keep it in good standing, you can take advantage of a range of free resources they provide.

1. **Cash Exchange**
Breaking large bills into smaller denominations can be tricky with today’s changing economy, but remember, you can still use and exchange cash. This can be a handy budgeting technique to control spending and dodge debt. Many banks offer smaller bills for free, so if you deal with cash a lot, it’s smart to go with a well-known bank that has lots of branches nearby for convenience.

2. **Account Opening Bonuses**
Opening a bank account can sometimes earn you a bonus. Some banks offer new account holders bonuses which can be quite lucrative. There are usually some conditions, like depositing a certain amount for at least 90 days or setting up direct deposit. Make sure you understand what’s required to make the most of these bonuses.

3. **Stop Payment Fee Waivers**
Some banks might waive stop payment fees as a courtesy, though this varies by bank. Knowing when to use a stop payment can be useful, especially if you spot a suspicious transaction or a payment goes through too early. Report any issues to customer service right away.

4. **Notary Services**
Banks often offer notary services needed to validate legal documents, and some provide this for free. It’s a good idea to check with your bank before going to make sure a notary is available.

5. **ATM Fee Waivers**
Even with the rise of digital payments, ATMs are still essential for cash needs. Some banks waive ATM fees, which is a plus for cash users.

6. **Checks**
Digital payments are popular, but checks can still be important, especially for those without internet access or older individuals. Some banks offer free checks which can be quite helpful.

7. **Fraud Protection**
Fraud is an ongoing issue, and banks offer many free resources to combat it like fraud alerts and enhanced security measures, including special passwords and two-factor authentication.

To get the most out of these free banking resources, it’s important to choose the right bank for your needs. Keep in mind that these perks might vary by bank, so it’s wise to ask your bank for details.