Banking Advice | BankingAdvice.com » Checking

Setting up Direct Deposit is Easier than You Think

walter — Wed, 30 Nov 2011 17:47:07 +0000

An important part of taking control of your financial health is recognizing the value of certain types of automatic payments and money transfers. For example, when you set up your checking account to automatically transfer a specific sum into your savings account each month, this “forced” savings habit keeps you progressing towards your goals. A foundation for these automatic transfers is direct deposit. With direct deposit, rather than receive a paper paycheck from your employer every pay period, your salary or wages are automatically transferred into whatever checking or savings accounts you specify. Setting up direct deposit is a straightforward...

How to Switch Your Bank and Checking Account

walter — Wed, 26 Oct 2011 14:13:15 +0000

Setting up your first checking account is a simple process. You simply fill out a form, deposit some money and wait for your checks and debit card to arrive. But you’ll most likely switch banks at some point in your life, and that’s where things can get complicated. When you switch checking accounts, it’s important to take the right steps to ensure that the transition is smooth. A mistake could leave you with overdraft charges, missed direct deposits and a number of other unnecessary headaches. Here’s some information and advice to guide you through switching bank accounts with as little drama...

5 Reasons Online Checking Pays Off

walter — Tue, 18 Oct 2011 14:28:50 +0000

For decades the checking account has been the cornerstone of many personal financial plans. Many of us have our paychecks deposited directly into our checking accounts, and we use our accounts to pay our bills, move money into our savings accounts and fund our IRAs or other retirement plans. In recent years, a new checking account option – online checking – has matured to the point where it can be a viable alternative to the traditional way of accessing our checking accounts. Online checking accounts are offered by most local banks, as well as by a number of online-only banks....

How, and When, To Use A Prepaid Bank Card

walter — Tue, 11 Oct 2011 14:18:27 +0000

Prepaid bank cards look similar to traditional credit and debit cards. Since they carry the Visa or MasterCard logo prepaid cards are accepted as payment nearly everywhere traditional cards are accepted. In truth, however, prepaid bank cards are a special type of payment method. With a prepaid bank card, the cardholder deposits a certain amount of money with the card company, and can then make purchases using the card. Each purchase reduces the balance of their card account, so when their account balance is too low, the card will no longer work. In order to open an account, the cardholder...

Tips for Making the Most of Your Checking Account

walter — Thu, 29 Sep 2011 17:04:20 +0000

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...

Online Banking Security Advice

walter — Wed, 21 Sep 2011 14:37:05 +0000

Online banking is one of those modern conveniences that many of us can’t imagine living without. It just makes our lives so much easier. Things that once required a trip to the bank, or at least a phone call, can now be done with a few clicks of a mouse. But all that convenience does come with some drawbacks. The popularity of online banking has opened new doors for criminals, making identity theft and bank fraud easier to commit. The banks are responsible for making their websites as secure as possible, but it’s up to account holders to use good...

Banking Fees Continue to Rise

walter — Mon, 25 Jul 2011 15:23:29 +0000

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...

Managing Your Checking Account with an Online Bank

walter — Mon, 20 Jun 2011 18:09:11 +0000

Online banking has made our lives much easier. We can check our balances, pay bills and make deposits from home, work or anywhere else there’s a computer. Still, a majority of consumers prefer to work with a bank that has a branch in their area in case the need arises to do some of their banking in person. But with advances such as direct deposit and easy transfers, online-only banks are growing in popularity. Their fees are often lower, and their interest rates more favorable than banks that have multiple physical locations. When it comes to checking accounts, online banking...

A Banking Checklist for College Students

walter — Mon, 16 May 2011 17:32:37 +0000

The college years are a time for learning - not only about your chosen discipline, but about life in general. They’re the first time most of us are out on our own, so we’re forced to learn in a hurry how things work in the real world. We have to start budgeting our time and our money, and make sure that all of our needs are taken care of since Mom and Dad are no longer close by to help us out. One of the most important things that a college student can do before embarking on that educational journey...

Is Money Market Checking Right for You?

walter — Fri, 18 Mar 2011 14:23:48 +0000

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...