Savings Accounts

A checking account is a service done by financial institutions (credit unions, banks, etc.) which lets individuals and businesses deposit money and take out funds from a federally-protected account. The terms “checking account” can vary from one bank to another, but in general a checking account owner may use personal checks instead of cash to pay off loans anddebts. He or she may also use virtual debit cards or ATM cards to access personal accounts or make money withdrawals. Most banks offer some form of checking account service for their clients. Some banks require a [...]

Free checking account This is the best checking account for the majority of people in most cases. Free checking is another way of saying “no monthly service fees or per-item charges regardless of the account’s balance or  its financial activity.” This means you may write all the checks you want, keep your balance as low or high as you want, and you wont need to worry about paying any fees. You will still need to pay a fee if your check bounces or you fail at some other criteria (like making an overdraft, etc). Interest bearing [...]

Proof of payment – Checks create a paper trail or a physical proof that you made a payment to someone. Every time you write a check that ends up clearing your account, there will be a number of records of it. Having this proof is useful for tax purposes (especially in the case you make tax deductible charitable donations) and anytime you are paying a person or a firm by mail. on your bank statement, in your checkbook, a carbon copy in the case you were using duplicate checks, a printable back and front picture of your cleared [...]

Many people see a checking account as not much more than a high tech wallet: You put money in it and take money out when you need it. But checking accounts are not always that simple. Choosing a bad checking account can actually end up costing you money. Its indeed worth it to take the time to ask yourself, Will this checking account be a good fit for me? Ask the Right Questions Finding the right checking account can be like finding the right pair of pants. Some fit you better than others. The perfect [...]