Look at the fees
You don’t want spending your money to cost you money. Read the fine print to see what the fees are and where they apply. Some common ones are ATM fees. See if you can find an account with a hefty number of fee-free ATMs in its network. You also want to avoid minimum account balance fees (unless it comes with a perk like dividend payouts), transfer fees and transaction fees. This is the biggest area where your checking account can help you save, so be sure to comparison-shop fees when you’re picking your account.
Check out overdraft protection
An ideal use for a checking account is to have it connected to your savings account. That makes it easier to save automatically when your paycheck hits, and it also can offer overdraft protection if you accidentally withdraw more than your account balance. That way, if you have the money in your savings to cover a transaction, you won’t see any overdraft fees posted to your account, or canceled payments, if you overdraw.
Scope out ATM options
If your account is with a financial institution in your community, like a credit union, there will often be a network of conveniently located fee-free ATMs that you can use. RMCU’s ATM map makes it easy to find the closest withdrawal point, so you can access your cash at any hour.
Take online banking into account
Since you use your checking account for so much—from bill pay to paying friends for dinner—you want an account with an easy-to-use online banking interface that has lots of functionality. Online tools like account alerts, mobile banking, estatements, and edeposits let you manage your money easily, no matter where in the world you are. And online budget tools built in with your financial institution will make it easy to plan for your future.
Pick the best perks
It’s obvious that not all checking accounts are created equal. But some come with even more benefits than others. RMCU’s SWIPE checking account gives you five cents back on every swipe after your first ten swipes, so you can earn big when you use your debit card for those little day-to-day purchases. And if you do have a good sum to keep liquid in your account, the Summit Checking account pays dividends when you maintain $50,000 in the account and a minimum of ten transactions per month.
When it’s time to move forward with your new checking account, it’s easy to open your RMCU account and get banking. Apply online, and see where your finances can take you.
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