|
The Good And Bad Of Checking Accounts |
|
|
|
|
Written by Webmaster
|
|
Monday, 02 February 2009 |
By Aydan Corkern
 Checking accounts are sometimes a good thing to have, but other times it is not. With checking accounts, there can be some good points and bad points about it. Some checking accounts are different. They have different classes that have fees every month and some that don't. Some you get free checks and others you have to pay for this. You have to know what the fees are for and when you run out of checks, the bank will order you some more. With others, you have to keep so much in your account. If you don't, you might get fined with fees. You need to have them explain the fees to you, what they are for, how much they are, and the penalties of the account.
The good points of have a checking account are you can cash your checks, you can put your money in the bank so you don't have to carry it around, and you can pay your bills with checks or online. You get statements every month from the bank on what you have taken out of your
account and what you have put in. You can also check the statement to see if you forgot to take anything out and to see if your bank book is right. You can cash your checks at your bank and put it in your account because some places will charge you to cash them. If you have a big check, a lot of places will not cash them because they are too high. This is why it is good to have a checking account.
You get a debit card with the account so you don't have to use so many checks, and you can use the card anywhere. If it gets stolen, they will get you a new one and they will close the other one and put the money back into the account if any has been taken out of there. If they get broken or just won't work anymore, they will replace it but it can take a few days for you to get it. A debit card can be used to pay at the gas pump and you don't have to go in. The cards are much faster to use than checks are because all you have to do is swipe it and put your pin in or sign it. With checks, you have to sit there and fill it out.
The bad point about having a checking account is if you mess up or forget to write something down in your bank book, you can bounce. You can have a 30-dollar or more fee on your account, which costs you more money. The more checks or withdrawals come in, the more it bounces. Your account can get frozen. You have a limit to what you can spend for the day, and sometimes your check will not get in the bank until a few days later and you can't touch it until it goes in. A lot of people like to keep their money on them because of this and if they want to spend however much they want, they can. If you have checks, they can get stolen and someone can wipe out your whole account in one day.
Aydan Corkern is a writer of many topics, visit some of her sites, like
water damage florida and water damage new york.
|
|
Last Updated ( Monday, 02 February 2009 )
|
