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The Boston Globe

Business

Banks cutting account fees to draw customers

Lenders offer free checking in bid for other business

After abandoning free checking in recent years, many large banks are trying to lure customers by offering accounts that are mostly free.

These accounts waive fees if customers meet relatively few conditions. On Monday, for example, RBS Citizens Bank introduced a new checking account that waives the monthly maintenance fee of $9.99 if customers make just one deposit of any amount every month.

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