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New Checking Accounts

If you are in the process of searching for a new checking account or are setting up your first checking account, then you will want to carefully consider a few options before opening.

First, what is it you want from your new checking account?

Are you looking for Rewards with your checking? What about a high interest rate for your balance?

If you plan on keeping a large sum in your new checking account then receiving the highest checking rate should be one of your first priorities. Typically local banks and credit unions will be able to offer you higher interest rates than larger national banks. You can compare a wide variety of high interest checking accounts in BankVibe’s checking rate archive or you can view the best checking accounts using the “Interest Checking” tab above.

Keep in mind the term “Rewards Checking” often times is synonymous with high interest checking. Basically the message they are attempting to convey is that the “reward” is the lucrative interest rate.

New Checking Accounts Tips:

  • If two people use the same account, be careful about recording checks and ATM transactions.
  • Checks written for “cash” make it harder to track spending. Make a note on the check’s lower left hand corner or save receipts to show what the cash was used for.
  • The ATM (automatic teller machine) balance listed on your receipt may not include all checks you have written on the same account. Use the ATMs with care.
  • Remember—overdrafts on checking accounts cost money. So, it is important to keep your account balanced
  • 4. Balance your account when the statement arrives from the bank.
  • If you receive canceled checks, put them in order by check number.
  • match canceled checks to your checkbook register. Make a 4 next to all canceled checks (-) subtract any service charges.
  • List outstanding checks not shown on your bank statement. Total the amounts and subtract from the banks “new balance” on your statement. (+) add any deposits listed in your check register but not shown in the bank balance.
  • Compare this new total with the check register balance. The two numbers should agree. If the amounts don’t agree: Check your math If they still don’t balance: CALL YOUR BANK

Finally, Know your account.

Are there service charges?

Can the service charges be avoided with a minimum balance?