Your checking account is more than a place to store your money. With all of the different accounts and options in today’s banking world, most people give little thought to their checking accounts. With paper checks becoming practically obsolete, they’re just a place to hold our money until we withdraw it from the ATM or spend it with our debit cards. Right? Not really. While a checking account’s primary function is to store money until it’s needed, it can do so much more if you know how to use it. Here is some advice and tips to help you get...

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Did you know that the checking account dates all the way back to the early 1500s? It has come a long way since then, but it’s still based on the same idea: the bank holds the depositor’s money and distributes it on demand. Today’s banks are much more complex than they were back then, and so are checking accounts. They come with various features and fees, and are often combined with other types of accounts. A single bank may offer numerous types of checking accounts, and some individual banks offer features that can’t be found elsewhere. All of these options are...

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Bouncing a check doesn’t make you a bad person. It usually occurs as a result of a miscalculation or a scheduled deposit being credited later than anticipated. And with the use of debit cards, we are even more prone to such mistakes due to poor recordkeeping. Most banks offer overdraft protection these days. This service can save you money in overdraft fees and save you the embarrassment and fees associated with having a check bounce or having a debit card transaction denied. But in order to get the most out of overdraft protection, it’s important to understand what it is,...

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Banks are in business to make money. They accomplish this in a couple of different ways. First off, they earn interest on the money that they loan out. They pay part of this interest to their customers who have money market accounts, CDs and other interest-bearing accounts. They also make money from the fees they charge customers for things like checking account maintenance, ATM withdrawals, overdrafts and cashier’s checks. It’s no surprise that banks rarely lower their fees. But fees have been on the rise lately due to lower profits. The recently passed Great Recession and Credit Card Act includes...

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Debit cards are handy little pieces of plastic. They give us easy access to the funds in our checking and savings accounts. They’re as simple to use as credit cards, but they don’t come with monthly payments or require us to pay interest. And if we need quick cash, we can get it from an ATM 24 hours a day, 7 days a week. But just like credit cards, debit cards can cost us money if we do not use them properly. There are numerous mistakes that can be made that may result in unnecessary headaches and expenses. Here is...

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A checking account often represents a person's first step into the world of banking. It is a wonderful tool for managing your money, and it makes paying bills and making purchases convenient because you don't need to carry cash. But one thing the average checking account won't do is earn you money. Depending on your bank and the type of account, you may actually have to pay monthly or per-check fees. Even if you have free checking, wouldn't it be nice to earn some interest on the money in your account instead of it just sitting there until you...

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When it comes time to obtain financial services, most of us start comparing the offerings of various banks. But there's another option that many consumers are not aware of, or do not fully understand: credit unions. A credit union offers the same types of services as a bank, but instead of being owned by stockholders, it is member-owned. Unlike banks, credit unions are not open to anyone who walks through the door. They have certain requirements for membership. Some are for employees of certain companies, while others serve residents and workers of a certain city or county. Some carefully restrict...

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For many of us, the basic checking account is the backbone of our personal financial system. We generally deposit our paychecks into our checking accounts, pay our bills from the checking account and use our checking accounts as a short term (and sometimes not so short term) place to safely store our money. Getting the most of your checking account can help you avoid unnecessary fees, unexpected expenses and help you manage your daily finances better. Making the best of your checking account also means you’ll have a better grasp of your finances and will be able to respond quickly and...

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You’ve probably seen TV commercials from banks that offer “100% Free” checking accounts. Perhaps you’ve even received a free checking account application or brochure in the mail from a large national bank, or saw an online banner ad. The offers might not have struck you as odd, but when you think about it you might start to wonder – how do these free checking offers work? How can the bank afford to give away free checking services when it costs them time and money to maintain those accounts? The truth is that banks are often willing to offer free checking...

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Everyone wants to get something for free. The banking industry seems to be making it even harder to get free checking these days. The federal government has imposed stronger regulations. The response has been to pass the costs on to the loyal customers. The banking industry has also been hit with higher fees by the federal government and they passed those expenses on to the customers. Getting free checking may require adjusting accounts, changing banks, or simply just asking the right person. It may be harder to find them, but free checking accounts are still available. The wide range of...

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