9.3- Checking Accounts Banks offer two types of accounts: checking and savings. Checking accounts are for immediate expenses. The bank records deposits and withdrawals.
What are the benefits of checking accounts? Bank accounts keeps your money safe and make it easy to pay bills with checks or debit cards.
Opening an Account Shop around to find a bank that offers accounts that suit your needs. Ask questions about fees, interest rates, charges for printing checks, and restrictions. Minimum balance- find out if you need to maintain a minimum balance on the account to avoid fees Overdraft- most banks charge a high fee for withdrawing more money than is in your account.