By financen | September 9, 2010 - 4:10 pm - Posted in Checking Account

There are many people who have a checking account, probably one or more than one. A checking account is like a saving account, but the money is usually easier to access in a checking account. If you do not have a checking account, you must be thinking of opening one. Before you open a checking account, there are certain things that you should keep in mind.

The most important thing you need to decide before opening a checking account is to know where to open one. There are many people who prefer to open it with their local banks, however you have other options available to look at. Different banks have different requirements and restrictions on opening a checking account. You need to check with different banks and examine their requirements and restrictions.

Many banks require you to open a savings account before opening a checking account. However, if you have already got some kind of loan from the same bank, then you can open a checking account without opening a savings account.

In addition to a savings account, you need to deposit a certain amount of money in the savings account before they will let you open a checking account. You need to keep at least $50 all the time in the savings account, otherwise the bank will charge you a small monthly fee.

When you open a checking account with a certain bank, check the fees associated with that account. Many banks charge a monthly fee, also referred as a bank service charge. There are many banks that will offer you free promotional gifts like a free set of checks within a specified period of time. If you need additional checks during that period, the bank will charge you a fee. Every bank or financial institution has its own terms and policies. Check with your bank before opening an account with them.

When a checking account is opened, many individuals do not consider all their options. If you shop with different banks, you will find some that won’t charge you any fees at all. Free checking accounts are available all around the world. You need to do a little research before opening a checking account with just any bank.

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