Checking Account uses

One of the most important financial accounts you will ever have is your checking account. Gone are the days when all you could do with your checking account was write a check. Today, your checking account is still that, but it is so much more.

Remember when you had to write a check and mail it to pay your bills? When the check didn’t arrive on time, you were charged more money and people rolled their eyes when you said, “The check is in the mail.” With online bill paying, through your checking account, those painful memories need never return again. Simply contact your bank to set up your online bill paying account, and those bills will be paid electronically and on time. 

Your checking account gives you the opportunity to travel without easy to lose cash in your pocket. If you desire one, the modern checking account comes with a debit card. The debit card is easy to use from coast to coast and, often, overseas too. It can be swiped as a debit payment or it can be used as a credit card-just remember, you do have to have your money in the account. When you choose credit, instead of debit on a Visa or Mastercard, you can earn points like you do with a credit card.

When you need cash, but all you have is a credit card or a check, you will love having a debit card attached to your checking account. Head to a local, safe ATM machine and withdraw the cash you need. Pay careful attention to any extra charges you may have to pay. Sometimes, convenience is worth a few dollars more.

When you have a checking account that is attached to online banking, you can save time and money. Remember the times you have waited in long lines, just to deposit a check? Now you can use your iPad, iPhone, Droid’s phone or your scanner, you can deposit money into your account without leaving your home. For more information, check here.

Another advantage of a checking account involves saving money. Connect your account to a savings account. You can arrange to have money automatically deposited from your checking account into your savings account without thinking about it again. You can also go online and manually transfer money between the two accounts. Doing this can also help you avoid an overdraft. In fact, you can arrange overdraft protection between the two accounts with your bank. 

A time-proven advantage of a checking account is the physical proof that you paid a bill. Sometimes, companies fail to properly enter a payment made to them on time. A record of your banking activity is kept by the bank. This enables you to prove that the payment was taken care of in a timely manner. 

Checks also give you a record of donations you have made; as well as monies you have spent buying items for work if you are a teacher. Properly noted, they are proof enough for the IRS.

All in all, checking accounts are pretty handy. Over all, you really can’t afford to be without one!