The Best Checking Account In Central PA

Who Has The Best Checking Account In Central PA?

Check Out Our Checking Account Features Table!

by Lisa Hummel

So, who offers the best checking account in Central Pennsylvania? Of the nine banks and credit unions that responded to MODE’s inquiries, we’ve learned that most of the local financial institutions are good at what they do — and fair in what they provide. While some have better incentives than others and many make use of different variations of the same concepts, overall we’ve found that, when it comes to personal checking accounts, these banks have a lot to offer.

By far, the overwhelming candidate for the best personal checking account format has to be the many local derivatives of the free checking account. Eight of of interviewees offered a package that boasts no minimum balance, no monthly fees, and no per check cost. And while some differ in sign-up bonuses and free-check availability, when talking to area bankers, it seems clear that the need for gifts and giveaways is almost nonexistent when it comes to free checking accounts, as the account features are capable of speaking for themselves— providing the consumer with such an appealing offer when standing alone, that there is no need for additional incentives.

Another aspect of the area’s most popular checking accounts that exists across the board is the implementation of the debit card, a MAC/ATM card that offers the duality of a VISA/Mastercard. Of the banks and credit unions we talked to, all ten offer the card, and only two, Harris Savings Bank and Commerce Bank, require that a small fee be paid annually. With the use of the debit card, cardholders have the availability to not only make purchases at businesses and establishments under the auspice of a charge card — but with the money coming directly from their MAC account and not from the credit company — they also have access to the seemingly hundreds of ATM machines state and region wide.

One other feature that many of the area’s personal checking accounts offer is overdraft protection. In fact, a large portion of the banks and credit unions we spoke to informed us that overdraft coverage is taken from the person’s credit card, savings, or reserve account at no or little cost to the customer. While some of the establishments we spoke to required a credit check on the consumer before overdraft protection was established, by and large most financial institutions provide the service with minimal confusion or hassle.

Another important issue we presented our local bankers with was the matter of whether or not the most popular checking accounts in the area were interest bearing. While the free checking accounts from four of the nine financial establishments were non-interest bearing, four gain interest at some point or another in its existence — at PSECU, for example, there is no minimum balance required to gain interest, while at Members First Credit Union interest accrues after the account reaches $2500.

In addition to the free checking accounts offered by the local financial institutions, many banks and credit unions in the area cite their most popular accounts as those that are quite different from free checking, with Legacy Bank naming its Premier Checking Account as one of the most requested by Legacy’s consumers. The account, which is three tiered, gains an interest of 2.25% at $1,000 and an almost unheard of 4.25% interest — when the balance reaches $10,000. While this number may seem pricey for a checking account, bank officials swear that interest rates for some savings accounts pale in comparison to the percentage points for an account such as this.

In the same vein, many establishments such as Vartan National Bank, Community Banks NA, and Commerce Bank offer special checking programs for those community members over the ages of 50 and 55. These accounts, which vary in name and specifications at each individual bank, offer such amenities as individual attention and free checks for the duration of the account.

So, what is the best personal checking account in Central Pennsylvania? It really depends on you. Many of the accounts are much the same, but each financial institution varies in specific uses, terms, and incentives. While the number of checking accounts available these days is beginning to rival the numbers of banks hungry for your money, it’s clear that if you shop around, you’ll probably find the account that’s perfect for you.

As the saying goes: An educated consumer is the best customer.

Check Out Our Checking Account Features Table!