Banks like retirees for one very big reason: They tend to keep a fair amount of cash on deposit. That’s why banks often offer special accounts or perks for older customers. Here are our two favorite bank accounts for retirees.
Favorite bank account for retirees: U.S. Bank Premium Checking Account
What we like most:
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- monthly checking fee waived if you’re 65+
- 50% off safe-deposit box
- free checks and paper statements
- no ATM fees charged by U.S. Bank
- no charge for money orders or cashier’s checks
Runner-up: Fidelity Cash Management Account
What we like most:
- no monthly fee
- no minimum balance requirement
- 0.07% interest rate
- free checks and paper statements
- reimbursement of all ATM fees
Be sure to check out our complete guide to all of the best banks of 2017.
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