Why Should You Pay for a Checking Account when FREE is Available?

Posted on: 11/15/2018 at 12:08 a.m.

If you have ever been frustrated with a bank tacking on a “maintenance fee” to what was once a free checking account, then the author of this blog sympathizes with you. After all, banks need deposits to run, so why would they charge you when you’re giving the bank your business?

That’s a great question! And the answer is that you should not be charged for something that benefits the bank. And that’s what we believe at Belgrade State Bank, which is why with our BSB Club Checking account, you pay for the benefits of additional products and services and not “just because.”
So, what do you get for $6.95 per month? A lot:

  • Identity Theft Protection from fraud and loss: Should you ever fall victim to identity theft, you may receive up to $10,000 to help pay expenses, clear your name and repair damaged credit. An IDProtect fraud specialist will also help you at every step to restore your credit and identity. Even better is that upon registration/activation, you will have access to credit file monitoring, total identity monitoring and access to a 3-in-1 credit report every 90 days — all of which makes becoming a victim highly unlikely in the first place.*separate enrollment required
  • Cell Phone Coverage: Cell phone insurance usually costs $5 – $10 per month alone. However, if you pay your cell phone bill with BSB Club Account, you are eligible for up to $300 to replace or repair you cell phone.
  • Health Savings: While not insurance, nor a replacement for health insurance, when it comes to prescription drugs and vision services, the discounts offered through BSB Club are often better than what health insurance provides.
  • Shopping Discounts: As a member, you have access to exclusive offers and discounts at thousands of leading online retailers. Simply shop online using our customized shopping portal and receive cash back. Your cash back will be held in your Shopping Rewards account to use towards future purchases or conveniently sent to you as a check. Yes, it’s that easy!
  • Accidental Death and Dismemberment Insurance: It’s unpleasant to think about, but accidents resulting in injury or death happen every day. Our club account provides up to $10,000 of 24-hour, anywhere-and-everywhere accidental death and dismemberment coverage. If joint account, total coverage is divided evenly. Coverage includes several additional benefits related to accidental deaths or dismemberment such as coma, seat belt and airbag benefits. Please note, this is not life insurance, and only applies to accidental death or loss of a limb. This amount may be increased to $20,000 or $30,000 by increasing the monthly fee or $7.95 or $8.95, respectively.
  • Banking Perks: As a BSB Club member, after an initial deposit of $50, no minimum account balance is required; you receive free, personalized checks; up to 10 free money orders or cashier’s checks per month; a 10% discount on a safe deposit box; a $5 discount on stop payment orders and, of course, a free EMV debit card.

Will $6.95 get you that much in any other scenario on Earth? We doubt it. To open or convert a free account to a BSB Club account, visit any local Belgrade State Bank branch today!

Complete details concerning the BSB Club Account can be found here.