A checking account is one of the most essential bank accounts for managing your finances. It’s the banking product that we use for daily transactions and to keep our personal finances in good running order. If you have regular, revolving expenses, think of how many purchases you put on your debit card — or how many monthly bills you write checks for.
Maybe your account is linked to an online bill pay system, or a direct deposit, and acts as the main source for all the funds you receive and pay.
It may sometimes be easy to overlook that like a traditional savings package, checking can also earn good interest rates, too — an account that builds finances simply for going about your day-to-day spending. Plus, when choosing an account that comes packed with other incentives, like rewards points, cash back, and remote access, you can take checking to the next level as the most important piece of your financial life.
The best checking account promotions reward account holders with options and free, no-fee access to their finances:
Minimal Fees and Charges: Many of today’s checking accounts offer a great deal of flexibility and freedom to your finances. Several credit unions charge low, to zero fees, and no minimum balance requirements for opening an account, some as little as $5. Sign up for overdraft protection services, and your account is safe in the event of a lost checkbook or debit card.
ID Insurance: Like savings or investment services that carry deposit insurance, many financial institutions provide identity theft insurance for their checking account customers, alleviating the need to worry about a lost checkbook or debit card.
Online Access: A checking account isn’t only about paper checks anymore, or even debit cards. Today, customers can find easy, unlimited access to their accounts 24/7, with free online banking and bill pay services from their computer screens or smartphones. And with mobile services like remote deposits, all that’s needed to enter funds into your account is a scan of a check through your cell phone, uploaded directly to your checking.
Rewards and Other Nifty Perks: Checking accounts now offer attractive benefits akin to credit cards. Just for accessing your account, earn user points that can accrue over time and be used for discounts on travel fees, online purchases, and more.
Save while you spend. One of the biggest benefits of choosing the right checking account is when it comes built in with a high-yield checking APR, or Annual Percentage Rate, that builds dividends simply for having money in the bank. Going about your daily spending but benefiting from the qualities of a savings account are hard to pass up. Opt for a high-yield checking account with 4-to-5-percent interest for generous returns to your funds that complement your savings as well as help them grow.
Whether it’s for an individual person, family, or business, there’s a checking account for everyone with plenty of savings incentives to boot. In addition to personal checking accounts, business checking accounts are also a great option for the small, medium or large business looking to provide a unique, one-stop account for a company’s employees.
It may seem daunting to figure which checking account is best for you, but the good news is that by “checking” our checking page, we’ve compiled a series of featured Deal of the Day articles and other features that can be useful in helping you narrow down the checking account that’s a perfect match for suiting your financial needs best.
A checking account, or a transactional account where a depositor can write checks that are payable on demand, is an important component in anyone's banking portfolio. Checking accounts are available from nearly every bank, the FDIC backs them, and there are many options for consumers to compare and choose from.
Some options to consider when looking for the best checking account are free checking, complimentary ATM cards, transaction limitations, overdraft protection, general rates and whether your checking account can earn an interest rate.
Typically checking accounts that do offer interest rates tend to have a high minimum deposit requirement. However, most banking institutions offer checking accounts with very little deposit needed to get the account up and operational.
If you are looking for the best checking account, think about what options you really need. Then compare all the options out there and choose wisely.
Knowing the ins and outs of using a checking account for your financial gain is a plus. With Checking accounts, you are able to manage your finances and make payments easier. Your money is safe since most banks and credit unions are FDIC- or NCUA-insured, respectively. Here are some useful facts and information about checking accounts: