Are you trying to learn how to manage your money properly in your new checking account? Well it’s now time to start learning to use and manage your checking account effectively, so that you can get the most out of your bank’s services. Improperly managing your checking account can lead to fees and penalties that will cost you some money that you’re trying to save. Make sure that you follow these tips below on managing a checking account.
Direct Deposits
Setting up a direct deposit to your checking account is free, and you simply provide your employer with your checking account number and your bank’s routing number to get started. A direct deposit is the easiest way to get paid by your employer and receive your paycheck in a timely manner all for free.
Mobile Banking
With online banking, you can check your account balances, move money between accounts and pay bills electronically. It’s important that you use safe internet practices to protect your account information. Mobile banking allows you to accomplish most of the same things you can do with online banking, except you use your smartphone or tablet instead of a computer.
Monitor Fees
Besides overdraft fees, checking accounts may charge monthly maintenance, ATM and special service fees like statement charges. Keep a close eye on additional charges. If you know your bank has raised fees, ensure your banking habits are not costing you unnecessary charges.
Summary
It is important to choose the right checking account, but it is even more crucial to properly manage your checking account. If you follow these tips above, you should be on your way to properly managing your checking account in an effective way, and you’ll get even more benefits out of your new checking account relationship.