Checking accounts are excellent financial products that give consumers a safe place to store their money. A wealth of small and large banking institutions exist, each with its own special features and benefits. A consumer should conduct research to find a bank that offers him or her the most beneficial features. The following are some checking account features that a consumer may want to obtain:
Free Checks
Many consumers still conduct their business with paper checks. Free checks is an amazing checking account feature that can save a consumer approximately $20 every few months. Many banks issue free starter checks for their new account holders. However, free checks on a continual basis is a special feature that not all banks offer.
Free Debit Card
Account holders who want to add convenience to their bill payment and shopping experiences can request a free debit card from some banks. The bank links this free debit card to the person’s account so that he or she has access to funds 24 hours a day and seven days a week.
Automatic Transfers
An automatic transfer is an amazing protective service that prevents the account holder from over drafting his or her account. If the person accidentally spends more money than the account has, then the bank will automatically transfer funds from that person’s savings account. One must have a savings account to qualify for automatic transfers. Additionally, the account holder must ask the bank to activate the special service.
Online Banking
Online banking is a checking account feature that makes banking simple and fun. Most banks offer this feature free to customers who have checking accounts. Online banking allows account holders to conduct such tasks as transferring cash, paying bills, and checking balances from the comfort of his or her computer. An account holder can usually sign up for an online banking account by visiting the bank’s website and verifying the account. The system usually gives the person the option of using a username and password or debit card number to register.
No Monthly Fee
Account holders can benefit greatly from a waived monthly fee. Some banks offer waived monthly fees as part of a promotional deal. The best way for a person to discover such a deal is by checking with different banks to see which ones are offering the deals. Banks that do charge monthly fees can cost a customer hundreds of dollars per year.
Direct Deposit
Direct deposit is one of the most desirable checking account features of them all. Direct deposit allows an account holder to have his or paycheck electronically deposited into the bank account. Such a feature saves the account holder time. Direct deposit usually involves the submission of a consent sheet.
Checking accounts offer consumers a wide variety of desirable features. Life is less complex when a consumer has a checking account. Comparison tools can help a person to find just the right checking account features for his or her liking.
