Checking account advice on how to make the best use of your account.

Regardless of your income or your overall financial health, chances are you use your checking account as the backbone of your personal financial planning. Many of us have most (or perhaps all) of our paychecks deposited to our checking accounts each pay period. We then have automatic bill payments set up to pay our bills. And we can set periodic withdrawals from our checking accounts to fund our retirement accounts and investment accounts. Because we rely on our checking accounts so much, it’s absolutely vital that we keep our checking accounts safe and secure. Here are five tips to help...

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In recent years it’s become difficult to earn very much money on your savings and checking accounts. In fact, even in the highly competitive marketplace to provide banking services, it can seem like banks are willing to compete with one another on virtually every aspect besides interest rates. But not making very much interest is only part of the story. What can make things worse is to have to pay fees on your account. Sometimes these fees may be due to a mistake you’ve made (such as allowing your account to become overdrawn). Sometimes these fees are imposed by the...

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As many of us are coming to realize, our time in the role of caregiver isn’t simply limited to the years in which we raise our children. We’re living longer lives, and that means that it’s more likely than ever that we’re going to be faced with the prospect of providing care to an aging parent or spouse. This care may extend beyond health-related assistance; you may also need to assist with banking and financial matters. Providing assistance to help an aging parent or spouse manage their finances can be complicated. Consider the following advice to help you navigate these...

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Choosing a bank account can be challenging. There are many types of accounts, and each account comes with benefits, and potential drawbacks. Some accounts require minimum balances and incentives for high balances. Others are more suited for day to day accounts that support bill pay and transfers. The company you bank with may impact your decision as well. For example, you may prefer a local bank or credit union over a national bank. Before you start researching accounts and banks, decide what you want to accomplish. What is the bank account for and what are your goals for the...

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Debit cards and credit cards look a lot alike. They’re the same size, of course, and they each come with a logo (usually MasterCard or Visa) that allows you to use the card to purchase items and services from various merchants. But if you have both of them then you already know that debit cards and credit cards are actually quite different. Debit cards are linked to your checking account, so amount of each purchase purchases using a debit card is immediately withdrawn (or debited). Credit cards, in contrast, allow you to finance purchases over time, if you so choose....

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Given the fact that they’re used less frequently, you might think that money orders would have faded away or become wholly irrelevant in the world of personal finance. Since getting a credit card has become relatively easy, and anyone with a checking account can write a check or even use their debit card to make a purchase, you might even wonder why some people bother with money orders at all. And many individuals may be unfamiliar with the money order. Essentially a money order is a payment device that’s similar to a check, except that you don’t have to have...

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For quick and easy access to the funds in your checking account, nothing is quite as convenient as a debit card. Branded with a Visa or MasterCard logo, you can use a debit card at any merchant that accepts a credit card, and doing so is much quicker than paying by check. But the process by which payments are processed whenever you make a purchase with a debit card is much different than the impact of paying by a check or using cash. Debit card use often involves the use of “holds” that can tie up funds that are in...

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If you’re diligent about trying to achieve your estate planning goals then you’ve probably prepared a will, set up a power of attorney and possibly also a living trust. You’ve probably also taken those goals into account when you named the beneficiaries on your life insurance, as well as the beneficiaries who would receive your individual retirement accounts and 401(k) plans. But what about your other financial accounts, namely your bank and checking accounts. You can name a beneficiary on your account, but there’s also another way to make sure that your bank account gets passed on to the person...

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Opening up a checking account and savings account at your local bank or credit union isn’t particularly difficult. The process is usually quite straightforward, and a bank representative will walk you through each step along the way. Even if you set up a new account online, the process probably won’t take more than a few minutes. But once you have your account, you need to pay more attention to it. In particular, you need to avoid the common banking mistakes that can trip up many individuals. Here are some of the most common banking mistakes that some people make, and...

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One of the last things a consumer wants to worry about while on vacation overseas is losing their spending money (if one carry a lot of cash), or having to worry about the hassle of replacing lost travelers checks. Because of the increasing prevalence of worldwide ATM networks, many people now simply use their ATM cards to address those concerns. But using an ATM card while on vacation abroad has its own set of issues, including those relating to security, costs and fees, and ease of use. Here is some banking advice and tips for making the best use of...

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