Get the Most Out of Your Checking Account
Many people don’t take full advantage of all the valuable features available through their checking account.
Most households in the U.S. have a checking account at a financial institution because it’s a convenient way to store money while still being able to access it quickly for purchases, bill payments, etc. However, many people don’t take full advantage of the features that accompany their checking account. Following are some tips to keep in mind to help you get the most out of this valuable financial tool.
When you sign up for a checking account these days, you get the added bonus of being able to do your banking online or on your mobile device. You can log into your account to check your balance, make payments, transfer money, etc. With mobile features, you can do all of this from the convenience of your smartphone or mobile device wherever you are. You can even use the camera on your phone to deposit checks. No more waiting for the bank to open or arriving at the branch five minutes after it closes!
Set up Online Bill Pay
Paying your bills online is much quicker and easier than writing out checks and mailing them. It also saves money on postage and reduces the risk of fraud from thieves stealing paper checks. You can access online banking from any computer or mobile device. Automatic bill pay is another feature you can set up online so your bills are paid automatically out of your checking account when they're due. This can help you avoid missing payments and incurring late fees.
Set up Alerts
One benefit having an online banking account is the ability to set and receive alerts by email or text message for various activities, such as when your balance dips below a predetermined amount or if potential fraud is detected with your debit card. Alerts can also be set to remind you of important dates you wish to keep track of, whether it's a birthday, anniversary, business meeting, or any event that's important to you.
Send and receive money digitally
A relatively new service allows you to you send, receive or request money from friends, family or just about anyone with an email address or mobile number. With Popmoney®, you can transfer money from your checking account to someone else’s account, even if it’s at another bank. Pay your babysitter, send money to your child at college, or reimburse friends for your share of the dinner check.
Link Your Accounts
If you have a savings account in addition to your checking account or multiple checking accounts, link them up so you can transfer money from one to the other as needed. If you use a savings account, moving money from checking to savings can help you keep it growing. Likewise, if cash flow becomes an issue, you can move money from your savings account to your checking account for use as needed.
Use Your Debit Card
One of the most convenient aspects of having a checking account is the use of a debit card, which you can use just like a credit card at most retail locations, restaurants, filling stations, and online websites. The difference is that instead of accruing debt as you make purchases, you are simply spending your own money, which can help you stay within your budget and avoid overspending.
Sign Up for Overdraft Protection
Overdrafts shouldn't be an issue if you pad your checking account with a little extra cash and diligently balance your checkbook to remain aware of your balance at all times. However, people do make mistakes and emergencies do happen. If you end up spending more than you have in your checking account, you may find yourself paying fees as a result. Look into overdraft protection offerings, which will allow you to cover overdrafts with a linked account or a line of credit.
Nevada State Bank has several checking account options to choose from. Talk to your banker about which one will best serve your needs, and start taking advantage of the many benefits offered by your checking account.
The information provided is presented for general informational purposes only and does not constitute tax, legal or business advice. Any views expressed in this article may not necessarily be those of Nevada State Bank, a division of ZB, N.A.