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Finance and Accounting

Melissa Hart Outlines Common Mistakes to Avoid When Opening A Checking Account

As consumers, choosing a checking account isn’t always straightforward. What factors are most important to consider when opening a new one?

According to Melissa Hart, Poole College senior lecturer in finance, one common mistake consumers face is not reviewing the fine print to avoid costs.

“Many checking accounts today have large minimum balances to avoid high monthly fees, or they require additional connected accounts,” says Hart.

Another blunder people often make is maintaining relationships with banks just because our parents are account holders.

Read more on WalletHub.