Setting up checking accounts – whether for personal, joint or business use, is straightforward and simple. But not all checking accounts are created equally. The fact is, today you can make your money work harder than ever for you, while still giving you the flexibility and convenience you need. Here's what to look for when opening this type of account to make sure your money's in the right place.
Checking Accounts with Interest
Why not have your money pay you back? This can be possible with high interest checking accounts. Opening a checking account with interest gives you the benefit of interest that's compounded daily and posted monthly to your account while letting you take advantage of competitive interest rates. Ideally, checking accounts should not put a restriction on how many checks you can write or how often you can write them.
Preventing Monthly Fees
Oftentimes, banks will charge a monthly fee or maintenance fee if you have below a certain amount in your checking accounts. That's why it's always a good idea to have $1,000 or more saved in your checking accounts. This way, you'll earn interest on your deposits without subjecting your money to an additional fee. Many banks, will also give you a convenient check card that you can use anywhere regular credit and debit cards are accepted.
Linking Accounts for Added Protection
You should also ask about being able to link your checking accounts for protection against potential overdraft fees. The best checking accounts make it easy and straightforward to transfer funds too. You should be able to transfer funds between your existing checking accounts at a single bank, as well as between checking accounts at different financial institutions.
This kind of financial setup makes it nearly effortless for you to manage your money in a way that makes sense, helps you save and reach your financial goals. With high interest checking accounts, plus the freedom of being able to transfer to and from different accounts, you're able to maintain your checking accounts and avoid monthly fees or overdrafts. What's more, checking accounts from a reliable banking institution now give you more opportunities than ever to access your funds and make purchases.
That's why, when comparing checking accounts, it's a good idea to look for competitive interest rates, the benefit of check cards and ATM withdrawals with no limits on writing checks.
Checking Accounts with Interest
Why not have your money pay you back? This can be possible with high interest checking accounts. Opening a checking account with interest gives you the benefit of interest that's compounded daily and posted monthly to your account while letting you take advantage of competitive interest rates. Ideally, checking accounts should not put a restriction on how many checks you can write or how often you can write them.
Preventing Monthly Fees
Oftentimes, banks will charge a monthly fee or maintenance fee if you have below a certain amount in your checking accounts. That's why it's always a good idea to have $1,000 or more saved in your checking accounts. This way, you'll earn interest on your deposits without subjecting your money to an additional fee. Many banks, will also give you a convenient check card that you can use anywhere regular credit and debit cards are accepted.
Linking Accounts for Added Protection
You should also ask about being able to link your checking accounts for protection against potential overdraft fees. The best checking accounts make it easy and straightforward to transfer funds too. You should be able to transfer funds between your existing checking accounts at a single bank, as well as between checking accounts at different financial institutions.
This kind of financial setup makes it nearly effortless for you to manage your money in a way that makes sense, helps you save and reach your financial goals. With high interest checking accounts, plus the freedom of being able to transfer to and from different accounts, you're able to maintain your checking accounts and avoid monthly fees or overdrafts. What's more, checking accounts from a reliable banking institution now give you more opportunities than ever to access your funds and make purchases.
That's why, when comparing checking accounts, it's a good idea to look for competitive interest rates, the benefit of check cards and ATM withdrawals with no limits on writing checks.
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