If you need a place to store your money, you can open a free checking account and keep your earnings secured with a reputable financial agency. In addition to storing your money so that it's accessible whenever you need it, your checking account may include additional features that can make banking easier and more rewarding. Here are five awesome perks that come with many free checking accounts.
1. Maintenance Fee Waivers
Some free checking accounts don't come with monthly maintenance fees regardless of balances or how often they're accessed, but if your financial institution charges you a maintenance fee, you can possibly avoid paying it if you meet certain criteria. If you have direct deposits that total a certain minimum amount or maintain a specified minimum daily or monthly balance, you may not be charged the fee.
2. Mobile Access
By using the financial institution's app, you should be able to access your checking account and review your balance from your mobile phone whenever you want. If you get a check and don't want to have to go to the bank to deposit it, you should be able to deposit it by using the app to take pictures and submit images of the check for automatic depositing. The app may even allow you to make payments and transfer money virtually.
3. Overdraft Protection
If you accidentally spend more money than what's currently in your checking account, you can avoid an overdraft fee with overdraft protection. With overdraft protection, money will automatically be withdrawn from another account of yours to cover the amount that was overdrawn so that you'll never have a deficit.
4. Cashback Offers
You may actually get paid to shop if you sign up for a free checking account that offers you cashback deals. When you make a purchase at a participating business, you can get a percentage of your purchase back and have the money deposited into your account automatically for you to use on other purchases.
5. Paperless Statements
Nowadays, most financial institutions give customers the option of receiving paperless statements for their free checking accounts. You'll be able to access your statements through the financial institution's mobile app whenever you want to review them. Paperless statements can also be more secure than bank statements on paper that could get lost if they're sent in the mail.
A free checking account can help you manage your money better and give you greater peace of mind about your finances. Free checking accounts can be opened quickly and with little hassle, and a customer service representative can help you with the process.
For more information, reach out to a company such as Together Credit Union.
