Talking About Loans and Financing

Services That Might Come With Your Checking Account

Do you want to get a new checking account? If so, you may want to start looking for the right bank to use for this account. Most banks offer checking accounts, but all checking accounts are not equal. Every bank may offer different services and perks, and you should compare your options before selecting one. As you begin searching for a new account, here are three services you might want to find in your new checking account.

Interest-Bearing Account

Most checking accounts do not pay interest on the deposits you have in the account, but some do. If you typically keep a few thousand dollars in your account, you might want to earn something from this money. Earning interest on your checking account balance might not result in a massive amount of money, but it can help. Any extra money you can make is helpful, so you might want to find a checking account that is an interest-bearing account.

Overdraft Protection

The next service you might want to find with a checking account is overdraft protection, and most banks offer this service. Overdraft protection is a service that protects your account if you overspend. For example, suppose you have $30 in your account but need gas. Overdraft protection would allow you to put over $30 of gas in your account. If you needed $40 of gas, you could put that much in without worrying that the gas station will deny your transaction. Overdraft protection lets you spend more than the amount you have in your account without fear of getting your debit card rejected or a personal check returned to the bank. You must pay a fee if you spend too much and end up with a negative balance. The benefit, though, is that you can spend money you might not have yet in your account without fear of rejected transactions.

Bill Pay Services

The third service you might be interested in is bill pay services. Many banks also offer bill pay services that you can access from your phone or computer. These services let you schedule and pay bills directly from your bank account, and people like these services because they offer an easy way to pay bills each month. Most banks do not charge fees for these services.

If you need a new account, start looking for a bank that offers the features you want in a checking account.