Articles Tagged ‘checking account’
How to Switch Banks and Transfer Funds Without Losing Time and Money
Wednesday, October 3rd, 2012
As new regulations come into force, many banks and credit unions are changing their fee structures. Sometimes fees will be increased, occasionally they’ll decrease, and sometimes new types of fees will be created. At some point you may decide that your current bank’s fees are too high, and that you want to pay less for the services you use. Or you may decide that you’re dissatisfied with the level of service that you’re currently receiving, and want to take your banking business elsewhere.
In either case, you need to make sure that when you change to a new bank you...
5 Fees Your Bank May Impose and How to Avoid Them
Friday, July 20th, 2012
Banking fees may be looked at as a necessary evil. It’s no fun having to pay for access to your own money, but the bank is providing a service and deserves to make a profit. But lately, fees have been getting higher and higher, and they can take a big bite out of your savings and checking accounts.
Nobody wants to pay out more than they have to in fees. If you’re not careful, you could lose hundreds of dollars to your financial institution in a year’s time.
Here is some banking advice on five common fees that banks impose and...
Checking Account Mistakes That Should Be Avoided
Tuesday, June 5th, 2012
Checking accounts are essential to managing our day-to-day personal finances. We deposit most or all of our paychecks into our checking accounts, and we use that account to pay our bills, manage our households and conduct practically every other financial transactions we make.
Given how important checking accounts are, it’s a bit surprising that we don’t always do the right things when it comes to how we manage them. People make far too many mistakes when it comes to their checking accounts, and while the consequences of a single mistake might not be too serious, the total effect of multiple...
Watch Out for Your Bank’s New Checking Account Fees
Monday, March 12th, 2012
When new laws were passed in 2011 to reduce the fees that banks could charge for certain debit card transactions, the hope was that the changes would be passed along and result in lower fees to consumers. Instead, many large banks have instituted new account fees in order to recoup their lost income.
Keep in mind that your bank can change the terms of your checking account upon 30 days advance notice. So when you receive a letter from your bank, review it carefully to make sure that you won’t be subject to any unexpected new fees going forward.
Here are...
Advice on How to Protect Your Banking Account from Unauthorized Use
Thursday, January 26th, 2012
Banking accounts, and especially checking accounts, are the backbone of most people’s finances. We usually deposit our paychecks into our checking accounts and then use that checking account to pay our bills, and to fund our savings and investment accounts.
But like other modern financial accounts, particularly in the age of the Internet, our checking accounts are vulnerable to attack from thieves and vandals. If someone has your checking account number, plus some other personal information about you, then they might be able to access not only the funds in your checking account, but potentially the funds in your other...
How to Find a Truly Free Checking Account
Monday, November 28th, 2011
We’ve all read about the changes to the financial industry over the past few years. Perhaps we’ve even experienced some of these changes ourselves firsthand in the form of increased fees for common banking services, as well as new fees for common products. New and increased bank fees seem to be proliferating across just about every type of product.
Even products that were commonly available for no charge just a few years ago are becoming harder to find these days without fees. Even the free checking account, which used to be a standard offering at nearly every bank, seems to...
How to Compare Checking Accounts and Find the Best One for You
Tuesday, September 13th, 2011
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...
Is Money Market Checking Right for You?
Friday, March 18th, 2011
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...
How to Make the Most of Your Checking Account
Sunday, February 13th, 2011
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...
Getting Your Teenager A Checking Account
Friday, October 22nd, 2010
There is an ongoing debate as to when a teen should set up a checking account. Some experts state that checking accounts should begin at adolescence, while others say the last year of high school is more appropriate. Regardless of when you decide to assist your teen in opening a checking account, doing so is the first step on the road to financial responsibility. Here is some advice on how to get your teen started in banking responsibly.
If you have taught your child to learn how to balance a checkbook utilizing your own checkbook as a model,...