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What are Checking Accounts?

Checking Accounts, although coming from a rather lengthy history and arguably serving a more and more 'archaic' purpose (such as checkbooks) are first and foremost in place to securely store your funds - such as those acquired from paychecks, retirement, disability, etc.

While there are various forms of Checking Accounts, each one is typically tailored accordingly to such, and will offer interest-rates as applicable with those whom (understandably) place more funds into their accounts (sometimes with a required minimum balance) or maintain a higher balance on a regular basis - such as businesses or large corporations.

Aside from writing checks, Checking Accounts do serve modern purposes such as allowing you to pay bills online directly, provide you with an ATM or Debit Card for spending as necessary, and to cash checks - typically with fast turn-around times considering you've been a member long enough or hold a credible balance amount as they see fit. Many banks also offer forms of protection for 'overspending' on a case by case basis.

What many people don't realize is, however, along with the responsibility of a Checking Account comes a lot of potential to overdraft or otherwise experience substantial unwanted fees, charges, and other penalties through mismanagement.


Fortunately, most modern banks today will provide an advisor to you prior to opening an account, will walk you through the process, and leave you with a nice 50-100 page or more manual and policy pamphlet.

Last but not least, people rely on Checking Accounts to secure their money in the event of a disaster, which is reflected through the value of the typical bank ensuring up to $250,000.00 via the FDIC (or more) should such an event otherwise out of your control take place - including bank robbery, etc.

In essence, a bank serves the purpose of securing, accessing, yet also more financially managing your money - and many come with financial experts who walk along this journey with you to help manage your success and financial protection!






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