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Banking for Mature Adults
Date: June 8, 2007
Author: David Smidt, SeniorDiscounts

Many people may not realize that many banking institutions provide special services for seniors. Not only do banks offer senior checking programs that offer discounted benefits beyond those of their standard checking services, but they may also have full service money management services available that are designed specifically for older adults’ needs.

Most of these programs are available to seniors aged 50 or 55 and older and the benefits can typically be found on the bank’s web site, but you can also inquire in person or through the toll free number.

When researching a bank’s benefits for seniors, it is best to look at the standard offers for regular checking accounts and then compare those with the extras you may receive in the senior program. Some of the same benefits may be found with other checking programs, so look for the one that is right for you. Be sure to read the fine print and ask questions if you are unsure of the program details and requirements. Here are some of the extras you may receive with a bank’s senior program:
-Free or discounted personalized checks
-No fee Travelers Cheques
-Free personal money orders and cashier’s checks
-No minimum daily balance requirements
-Free or discounted Bill Pay
-Preferred interest options on checking balances
-Preferred rates on Money Market Savings, CDs and IRAs
-Preferred rates on select loans and lines of credit
-Extra savings accounts
-Special check cards
-Free or discounted safe deposit box
-Free stop payment, money order and bond redemption services
-Overdraft protection options
-Unlimited check writing with no per item fees
-Free or discounted identity protection

Here are some senior programs offered by some of the major banks:
-Bank of America Advantage for Seniors (For Seniors 55 and older.)
http://www.bankofamerica.com
-SunTrust Select 50 Checking (For Seniors 50 and older.)
http://www.suntrust.com
-Wachovia Crown Classic Banking and Access Fifty Checking (For Seniors 50 and older.)
http://www.wachovia.com
-Wells Fargo Elder Services
http://www.wellsfargo.com

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