Best Checking Account

How to Find the Best Checking Account

To have a stable, yet secure means of your money storage, it is very important to make a thorough research of the options available for your business. With so many independent credit unions, banks, and other financial institutions, it is not an easy task to find the best checking account that offers both high interest rates and is secured by the Federal Deposit Insurance Corporation.

In addition to interest rates, you would want to take such factors into account as monthly maintenance charges, transaction fees, minimum deposit amount, etc. For example, if your monthly balance is high, you will be allowed to have higher interest rates. That is why, if you expect your monthly balance to be large, consider investing in such banks that offer the interest rates proportional to the amount of cash you are going to deposit. Just on the contrary, if your balance is small, try to find the bank that will have stable interest rates notwithstanding the balance amount you currently have. In case your budget is low, you should choose the banks that support low balance accounts. Besides, there must be no penalties for low balances and low transaction activity.

A 2011 research demonstrates that the best checking account can be obtained from such large to middle sized banks as Bank of America (BoA), Citizens Bank, J. P. Morgan Chase & Company, Wells Fargo & Company, Suntrust Bank, etc.

How It Works

When you have weighed all the pros and cons of opening a checking account, it is the time for you to get your credit or debit card from the bank. If you have already chosen the best checking account that meets your business needs in the most effective way, you can either visit the bank representative face-to-face or arrange an online meeting. Either way, you can have your account opened in just a few minutes and start using your credit or debit card immediately.

Best Checking Account Offers

Due to a stringent competition amongst the banks of America, Canada and US-friendly financial institutions, you have more chances to find the best checking account that will not only save your money, but will also bring returns on your investment. Moreover, some banks are so eager to attract new customers that they offer special deals and bonuses of up to $100 with no monthly maintenance fees. In addition, you can get a plastic card that will enable you to withdraw cash from any ATM throughout the country.

One more benefit that you may come across is that when applying for a checking account, some banks may provide you with a free-of-charge account that you can use for a certain period. Furthermore, make sure you are aware of special deals valid on the day you apply for your checking account. You can also win some high-tech devices such as iPhone or iPad. In any case, you should think thoroughly before applying for the best checking account . Otherwise, it may have a negative impact on your general financial situation as you will most likely have to pay monthly charges when a special offer comes to an end.

Tags: account online online bank account online checking account checking account credit

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