Because technology is advanced and you can bank online, you also have access to various checking account products. At one time, everyone used a traditional account – one where you recorded deposits and payments on a check register and merely wrote paper checks.
However, today’s innovative choices in checking account products makes it easy to find a checking account that meets your specific preferences and needs. You can find checking account offers that are designed for both business and personal needs.
Bank Checking Accounts and the Featured Benefits: Some Examples
The following list serves as a generic description of banks checking accounts that are featured for personal use. Let’s look at four examples that are popular with banking customers.
1. Premier Checking Account
This type of checking account offers a large range of benefits. Therefore it provides a great deal of flexibility for the checking account customer. Typical benefits include interest, cash back rewards and preferred rates on interest.
While you do pay a service charge for each statement period, the fee is waived if you have a combination of loan balances and deposits in a specific amount or your total deposits total a certain dollar amount.
2. A Plus Checking Account
When you have this type of account, you can also waive a low service charge if you maintain a certain balance for a given activity period or have a certain amount of direct deposits over the same time frame. These amounts are lower than what you’ll need to have in a Premier checking account. With this account, you can receive a debit card and get discounts for wire transfers and ATMs fees.
3. A Traditional Checking Account
If you’re seeking an affordable checking account that does not require a minimum balance, you should choose a traditional checking account. Often, with this type of account, account holders who are 62 years or older do not have to pay the service fees.
Otherwise the service fees are very minimal – about $3.00 per periodic cycle. You’ll usually pay about 50 cents per check if you send out over 8 checks during the period.
4. A Progress Checking Account
This checking account is an electronic account that allows you to bank on your mobile phone or online. You don’t have to meet a minimum balance nor are you assessed monthly or overdraft charges. With the exception of bill pay type checks, you don’t have access to paper checks.
What You’ll Need to Open a Checking Account Online
You can open any of the aforementioned types of checking accounts online. To begin the process, you need to meet certain criteria. You should reside in a designated location, or the service area for hte bank, and be at least 18 years of age.
You’ll also have to provide your social security number and have a mobile phone or email so you can receive emails or texts. A current photo I.D., such as a state I.D. or driver’s license, is required as well.
Finding the Best Checking Account for Your Financial Needs and Goals
To enroll in a checking account online, you need to carefully review the types of checking products first. If you need a checking account fast — one that you can use right away — you’re probably better off to choose a digital checking account. Whatever you select in a checking account, make sure it offers the kinds of services that work the best for you financially.