There are a wide variety of personal checking accounts available. A little research can go a long way in choosing the account that’s right for you. First, check and see if your bank provides an account matrix. This handy tool allows you to easily compare the benefits of each type of account offered. Depending upon your financial goals and banking needs, some of these features will outweigh others. Continue reading to learn how to determine which checking account might be right for you.
If you are on a budget or want to cut down on the fees you are paying, look for checking accounts with no monthly fee like AimBank’s Personal Checking and Free E-Checking. These basic accounts are an excellent option for those who are opening their first bank account or don’t anticipate writing a large volume of checks as purchasing paper checks can often offset the cost savings of free checking. Be sure to look at the requirements necessary to maintain your no service fee status. These requirements vary by financial institution, but check to see if there is a minimum monthly account balance, minimum number of monthly transactions, direct deposit, and any bill pay or paperless statement requirements.
If you know you will need to write checks regularly, some banks will wave the monthly fee on higher tier accounts if you meet minimum requirements. AimBank’s AIMazing Checking includes up to 200 free printed bank stock checks per year. While the account typically has a low monthly service fee, by simply signing up for eStatements and posting 25 debit card transactions, the monthly fee is waived.
Online Banking and Bill Pay
Before opening your new account, make sure your bank offers online banking and bill pay tools to make using your new account easy and convenient. All of AimBank’s personal checking accounts include free access to online banking, bill pay, mobile deposit, text and voice banking. These kinds of features help you maximize your checking account, automate bill payment without having to remember to update credit card numbers, and closely monitor and control your banking activity.
No matter how conveniently located your bank is, you will eventually need to withdraw cash from an ATM other than at one of your bank’s branch locations. Your bank’s network of ATMs and the associated fees are an important factor to consider, particularly if you don’t carry cash and will need to withdraw for those times when cash is necessary. Some checking accounts include access to other ATMs as well as ATM fee reimbursement. All AimBank customers enjoy a fee-free network of over 700 ATMs and our AIMazing Checking customers also enjoy ATM fee reimbursements for up to $10 per month. For these reimbursements, just save your receipts to receive a credit to your account.
Rewards and Discounts
Some personal checking accounts include benefits like reward points or shopping discounts. If you like to shop, travel, or dine at restaurants often, this is a perk worth exploring. By downloading the free BaZing mobile app, those with an AIMazing Checking Account get discounts on shopping, dining, and travel — both locally and across the nation. Getting these discounts is as simple as showing a mobile coupon to the retailer. These everyday savings add up over time and make your checking account work harder for you.
Security Features and Other Benefits
When comparing checking accounts, consider other features that you might not typically associate with your bank. Some rewarding accounts like the AIMazing Checking Account include features like cell phone protection, identity theft protection, and roadside assistance.* These are great benefits if you shop online often or don’t want to pay a monthly premium for insurance on your cell phone. In order to activate these extra features, all you have to do is sign up through BaZing to immediately begin enjoying the free protection and security of knowing that you have an extra layer of resources if you need to replace your cell phone, have car trouble while traveling, or have your identity stolen.
The features discussed in this article may benefit you more at different points in your life. If you are unsure which account is best for you right now, contact your local banker to discuss your personal checking account needs.
*Cell phone protection, personal identity theft benefits, and roadside assistance are subject to additional terms and conditions through BaZing.