Basic Checking Accounts for Senior Citizens

Basic Checking Accounts. Banks and savings banks in Illinois are required by law to offer a basic checking account to anyone 65 or older who requests an account. The first 10 checks written each month on this account are free. An account can be established by either a minimum initial deposit of $100 or a written agreement with the account holder requiring direct deposits with the financial institution by a third party. No minimum balance or minimum deposit requirement may be imposed. For more information, contact your local bank or savings bank.

Examination Guidelines for Consumer Deposit Account Act