Best Banks For Checking Accounts
The days seem to have past when employees used to go to the cash department of their workplace on a Friday afternoon and be handed a fistful of dollar bills so we need to look for the best banks for checking accounts.
Perhaps that is a good thing as I never felt safe walking to the bank with all that money in my pocket. I always thought that there was someone behind who had followed me and knew what I was carrying.
It is much more common now that your employer will want to pay the money directly into your checking account. So you are looking for the best banks for checking accounts.
Here are a couple of things to consider.
1. Is the bank trustworthy. I know that all banks should be and most of them are but just do some basic checks on your local ones and ask family and friends for advice. Also try to find one that does not have any fees for your day to day business.
2. Does it have a large network of ATM machines. These will be essential for you to get your money out no matter what area you find yourself in. Banks used to charge for using theirs to take money out of another banks account. A few still do but who knows what might happen in the future.
Once you have chosen from the best banks for checking accounts you will have to go and see them. If your parents bank with them, I suggest that they go with you. They will record your basic details and then, after making sure who you are and where you live, will open an account for you.
Most banks will then send you three things:-
a) a paying book which you can use to put any checks if anyone sends you money.
b) a debit card which you use to withdraw cash through an ATM and can also use in stores or online to make payments for goods.
c) a check book which you can use to send money to other companies or people.
You have probably heard of a credit card. That is not a part of the normal pack and has to be got separately. I suggest that you dpo not apply for one straight away. You can use your debit card i9n the same way and you cannot spend more money than you have in your checking account with that.
This is all the checking account basics you need to get you started although I do recommend asking them to open a second account with them as a savings account. Every time that you pay any money into your checking account ask them to transfer 20% of that to your savings account.
You will understand why sometime in the future.
I hope that you now have a better idea of what to look for when investigating the best banks for checking accounts.
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My favorite bank for checking accounts is WaMu. It may not have a spot in the largest bank in the US but in terms of checking accounts it has some great features that is really beneficial to most consumers. A great example is there extensive identity theft protection as it is far beyond what other banks typically have. This bank has great customer service, no monthly fees and minimum balance. The only downside is that it doesn’t offer ATM rebates.
Twitter: shawlee54
says:
Thank You Trevor
You know I never understood the (Every time that you pay any money into your checking account ask them to transfer 20% of that to your savings account.) When my bank asked me to do that with my business account and never asked just did it. I look forward in your follow up.
Thanks Again
Sharon
Sharon Johnson recently posted..Affiliate Marketing and what I learned
I don’t have any idea about bank checking cause I always ask my brother to check on my account, but I have to admit I am really impressed about this post ,specially when I own a business, I should check on my account regularly.
Kate recently posted..mortgage singapore
Hello,
thanks for this interesting post. I use to check my bank account more often as possible, and i think that it is a very important thing especially for people who have their own business.
EleonoraEOF recently posted..10 Reasons Why You Are Not Losing Weight
Twitter: AnnCapatino
says:
Hi there, Trevor,
What a great article for someone just starting out in life. Very nice. We use a credit union. Charges seem to be less and their interest rates a little higher. And, they have a very good online setup for keeping tract of your accounts and paying your bills.
Ann recently posted..Negotiating With Credit Card Companies
Make sure they are FDIC-insured. While most banks today are FDIC-insured, some are not.
Greg recently posted..Mesin Fotocopy
Checking bank accounts more often is really important to stay in tuned and updated regarding with your accounts.
Nicholle Olores recently posted..Timber Doors Brisbane
When i was choosing a bank, i made sure it fit my lifestyle. I ended up choosing chase because of the convienence of with a front and back pic of the check i could desposit checks from anywhere in the world from my smartphone.
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