Opening your first checking account is an exciting thing to do! At INSOUTH Bank we know you may have lots of questions about this, so we’ve compiled a helpful list of what to think about when considering a checking account.
1. Opening minimum
You’ll want to find out if there is a minimum amount with which you must open the account. If you go in to open the account and don’t have the funds, they may not let you open it that day.
There may be different fees attached to the account. Some banks offer several types of accounts that do and don’t have fees. There may be overdraft fees, service charges for each month, and possibly a fee for not maintaining a specific balance. Look for an account with as few fees as possible in order to save money.
Most banks offer an ATM but not all banks don’t offer fee-free ATM use at other banks’ ATMs. Some accounts offer free or reduced ATM surcharges. You don’t want to have to pay to get your money so look for an account that offers free ATMs.
4. Debit Card
As most banks today offer debit cards, some charge fees for how many times you use the card each month. Make sure there are no hidden charges attached to your debit card. And if there are charges, just make sure you keep track of how many times you use the card.
5. On-line Banking
Convenience is key in this fast-paced society, so make sure your bank offers free on-line banking. Being able to check account statements, transfer funds and keep an electronic budget will help you stay on top of your finances even when you’re on the go.
If you need more information on opening a checking account, please contact one of our helpful INSOUTH Bankers today!
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