Five Helpful Tips for Managing Your Checking Accounts
Tuesday, August 20, 2013, 1:00 AM | Leave Comment
A bank account isn’t the only way today to store money, but many of the same tenets regarding intelligent checking account usage that have existed for decades still apply today.
Avoiding fees and using a bank account smartly is very simple and just requires a few simple steps.
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Balance the account weekly
Balancing a checkbook once a month used to be enough, but with so many ways to use a bank account today (online purchases, automatic debits, ATM cash), money moves through a bank account much more swiftly than in the past.
Make a date each week to take a look at the bank account balance and any recent debits.
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Don’t buy checks through the bank
There are several ways to order Disney personal checks and other fun check patterns, and the least expensive method for getting checks is always going to be through a discounter.
Banks may charge 20 or even 30 dollars for checks that might cost less than half that with an independent check printer.
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Call the bank for special promotions
After banking with a particular institution for many years, an account holder may qualify for special deals or discounts on certain purchases or services.
The bank won’t always promote these deals, so it’s best to contact the bank regularly to inquire as to whether there are any special deals currently offered.
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Link a bank account with a savings account
Making a mistake with a debit or check that results in an overdraft fee or bounced check can harm a person’s reputation and credit with businesses, but there are simple ways to avoid such issues.
Consider linking a savings account with the checking account so that in the event a check would cause the bank account to become overdrawn, an automatic debit would be transferred from the savings account.
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Avoid monthly fees
Occasionally a bank may require monthly fees paid on certain accounts, but there’s very little reason to actually pay this fee with so many available banks with which to have an account.
Conveniently, most banks offer a free checking account as long as the account holder has one direct deposit each month.
Although many people today have become fed up with bank account fees and have switched to a cash existence or to using online payment systems like PayPal, most people do still have the same type of bank account they’ve always had and may always possess.
Smart account holders may be able to enjoy an entirely fee-free banking experience by paying regular attention to their account.
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