Getting The Most From Your Checking Account

Your checking account may be a banking tool that you use on a daily basis. Yet, individuals will often fail to consider the types of actions that can improve their experience with their checking accounts. If this is something that applies to you, there may be easy steps that can improve your convenience while reducing the fees you may pay.

Review The Location Of Complimentary ATMs

Withdrawing your money from an ATM is a routine task, but it is something that will often require you to pay fees. In many instances, there will be a fee for both the ATM operator as well as the bank. Taking advantage of the fee-free network of ATMs that your bank offers can help you to minimize these fees. While it may not always be convenient to use these ATMs, being aware of their location will allow you to take advantage of them when possible.

Utilize Your Bank's Notification System

Being aware of the transactions that are coming out of your checking account can be essential for avoiding overdraft fees or returned payments. To help you with this, many banks offer instant payment notifications. These alerts are often in the form of notification on your phone or emails when transactions go through your account. This can help you with always knowing what your balance is before you make a purchase. If your current bank does not provide this feature, you may want to consider switching banks as it can be extremely useful with managing your daily expenses.  

Set Up Direct Deposit

Depositing your paycheck is often an inconvenient task as it can be one of the only reasons that you may visit your local branch on a regular basis. Utilize direct deposit will allow you to avoid this trip while also ensuring that you get your money as quickly as possible. Often, these payments will be posted early in the morning on the day payments are issued. Some people assume that signing up for direct deposit will be confusing or difficult, but it typically only involves completing a simple form that includes your account information and signature.

Regularly Review Your Transaction History

It can be easy to simply ignore your monthly account statement. However, this can be a mistake as it is easy to accumulate subscription payments on your account. Often, these payments may be for a service that you no longer use or a recurring payment that you did not know about. Reviewing your statement will allow you to catch these expenses so that you can promptly cancel them before they cost you any more money.