Consumers beware. Free checking may not necessarily mean "free." Most Memphis bank branches offer some sort of "free checking" program for the bank's services. But there could be hidden fees tacked on to your monthly statement. Chuck Newell with First Tennessee says it's all a matter of reading the fine print. "Every bank now has some sort of a free checking product. Every account is different. The parameters at every bank are different. There are variations of the free checking at every bank in Memphis, I would dare say." Newell says banks don't necessarily target people based on money, but the consumer's need for the bank's services.