When looking for your new bank account, pay attention to special features that can make your life easier. Every bank has specific fees and perks. You may need services, such as free ATM use and online banking, for example. You can often find an online-only bank, as well. Online banks help you save time since you can even sign up from home. Check on monthly fees, direct deposit availability, and minimum balance requirements, as well.
1. ATM Usage
While most modern retailers accept debit cards, you may need cash for things like tips and toll roads. Many people also use cash to pay babysitters, teens that mow lawns, and other handyman services. When you use an out-of-network ATM machine, many banks charge a fee. These fees can add up to a large amount. If you want to avoid fees, look for a Chase Checking Account that offers refunds for ATM fees. If your bank doesn’t offer refunds, find a bank that has plenty of free ATM options in convenient areas of town.
2. Banking Hours
Many banks only stay open during business hours. This can make it difficult for some people to get to the bank, as they must rush on their lunch break or miss work. If you prefer to visit the bank in person, you may want to look for a bank with extended hours. Extended hours may include evenings and weekends. Online banking services can also help you take care of necessities at any time of the day or night.
3. Monthly Fees and Interest
Nobody wants to pay extra fees to use a banking account. When looking for a bank account, find one that won’t add financial stress. Some banks charge a monthly account fee, while others charge customers when the balance falls too low. You can also expect overdraft fees and ATM fees from most banks. Some online banks offer a discount on the monthly fee if you pay for a year at once. You can also look for a bank that allows you to earn interest on your account. Most savings accounts are interest bearing, however, some checking accounts also earn interest.
4. Direct Deposit and Cash Deposits
Many banks offer free checking accounts if you sign up for direct deposit from your job. Think about your lifestyle before choosing an online bank, as well. If you have a job where you get cash tips, you may need an in-person bank to make quick cash deposits. If you do most of your banking with direct deposits, check deposits, and the ATM, an online bank might work well for you.
With a little research, you can easily find a bank with features that fit your lifestyle. Think about the way you like to deposit money and the banking hours you need. Ask questions about fees so you don’t end up spending more money than necessary. Some checking accounts can also help you earn money with interest. Open a savings account to earn higher interest, however. A reputable bank with your desired features can make your daily transactions convenient and hassle- free.
Article Submitted By Community Writer
