They say that anything that comes for free is always better and it may hold true for some people in the case of checking accounts. There are many banks with free checking accounts that are out there like ING Direct, Ally Bank, Alliant Credit Union, Incredible Bank, Connexus Credit Union and so on. These banks offer free checking accounts because they want to attract new clientele and encourage the habit of saving money. Of course you need to make a small deposit before you can open a free checking account for yourself. This account does not call for maintenance of a particular balance amount and there are no charges for direct deposit transactions. An ATM card and a Debit Card would be provided to you free of cost and there would be no minimum amount for checks.

You can also enjoy an unlimited check-writing facility when you opt for a free checking account. A Commercial Checking Account on the other hand is required when an individual owns a business. These are different from free checking accounts because the latter is meant for ‘domestic’ purposes while the former is meant for commercial purposes. Since it is obvious that commercial services cost a lot more than domestic or residential services a different type of checking account is a must for businessmen. One of the characteristics of a commercial checking account is that it usually comes with a hefty fee that is payable very month and the balance which is to be maintained in the account is quite high. If the individual fails to maintain the prescribed balance in his/her account then additional fees would be levied on him/her as a penalty. However just because there are so many charges associated with this type of account one would think of it as a bad choice but it isn’t so. The bank does a lot of work on behalf of the commercial checking account holder’s business and therefore it is totally worth the fees.