Bank accounts are a blessing; people these days are mostly reliant on them. To cater the basic money management in daily life, a checking account amounts having utilities to ease your job.
The trend of having a checking account in place is something very common these days. It is not only perceived among adults, in fact, teenagers have also now been looking forward to having their own personal checking account. The presence of this kind of account actually makes things much easier and people are capable of managing their money in a better way. Several reasons compel people to have hands on different checking account options a few of which may include the following.
Safety of Money (i)
Your money is your asset, you have earned it after hardship and obviously, you would never want to keep it free for anyone to rob. These days many robberies have been taking place all over the world and due to increasing theft things have become very unsafe to be kept at home. When you get your money deposited into your checking account you could be assured that your money is safe. You can have an access to any amount when required and there is no need to keep it at home and worry about theft.
Easy Bill Payments
These days checking accounts offer several utilities to their holders. Bill payments are one of such monthly activities that people are required to pay, this task may also be made easy but choosing to get the checking accounts. People may easily pay their credit card bills, utility bills, and other kinds of bills through their accounts using direct transfer or by checks and this offers a very easy way of doing the job. The hassle of standing in lines for cash payments is totally eliminated.
No Need to Carry Cash
Cash carrying is itself a huge hassle that must be eliminated for sure. You have to keep a check on the amount of cash you will require when heading out. In case if you are short of cash, you have to leave the bought stuff too. However, with checking accounts you can always use the debit card and shop as much as you want because there won’t be any shortage of cash. You will be able to pay any amount up to what you already have in your account. So, the hassle of shopping may be minimized by using a debit card that comes as a part and parcel of a checking account.
Payments are Tracked
Payments need a proper tracking system in place. If you already have paid someone and there is no proof with you when done through cash, this may be a stressful situation. However, when you make payments through a bank you always have a track of the payments and may prove that you have paid, so you are on a safer side of using services offered by checking accounts.
ATM in Emergency
Even though you don’t have a huge amount of cash at home, you need not worry. These days all malls, hospitals, and almost all the areas are equipped with ATMs that allow people to withdraw money. Therefore, even if you are stuck in an emergency and need immediate cash you can get your hands on it using an ATM around you. Your cash will be available for use in all circumstances due to the exemplary services offered by these checking accounts.
Process of Opening a Checking Account (ii)
A lot of people still think that opening up a checking account is a very hassle oriented task; well that is not the case. You can always get yourself a checking account by following a few simple tips suggested below.
- The very first thing that you must do before heading towards a bank for opening an account is to assess all the knowledge regarding a checking account. You must know the available checking account options, whether any checking account sign up bonus is offered by any bank and which the best known bank is.
- Once you have shortlisted all your concerns and have decided that bank to choose you may get a form from that bank and fill it. After filling it, you have to personally go there with the required documentation and submit your form.
- Initially, deposits may be required upfront at the time of opening an account that remains your property.
- Many banks offer certain no fee checking accounts, in these accounts some fee waivers are given by banks after maintaining a certain deposit amount in the bank, check if you qualify for that.
- Once you have submitted the form and deposited money you have opened your account with the bank, for ATM and Debit cards you need to file a request to your bank.
- Upon completing some official procedures, your ATM or debit card reaches your residence and you can activate it over a call made to the given number.
- Your checkbook will also be available after a certain number of days and you can pick it from your bank once it is prepared.
- After all this has been done you are good to use your checking account the way you want, just make sure to maintain sufficient balance and don’t empty it at once in order to hold it in a good state.
- Many checking accounts also offer interest-earning opportunities with different interest account checking rates if you have such an account in place you can earn on your deposits as well.
Checking accounts are a must these days, even if you are working somewhere your employer would want to transfer the salary directly to your account. These days every individual and business is heavily reliant on checking accounts and having these in place is a must. The process is relatively simple and the benefits are very impressive so there is no harm in getting oneself a checking account. In fact, when traveling you can use your debit card for shopping purposes no matter which country you are in, so even there you need not to carry much cash with you.