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Checking Account?
Checking Account?
I will be recieving checks and would prefer not to pay a fee at the local check cashing place. If I get a checking account can I deposit my checks there and then withdraw my money without a fee or is this account simply for writing out checks? I guess my question is, what is a checking account? Are these free?
Answers:
bonlwick: Many banks offer free checking. You can withdraw money several ways: writing a check for cash at the bank, in person with a withdraw slip, and, generally, with a debit card. Shop around for one with no fees, minimum balances, and that pays interest. They do exist.
2007-07-21 11:15:59
2007-07-21 11:15:59
SCH: You can get a free checking account at almost any bank you go to now a days...it is great to have and it gives you access to a debit card with a visa or mastercard logo, so you could even pay bill on line...
Why pay a fee to a check cashing place when you can do it for free with a checking account.
2007-07-21 11:16:36
Why pay a fee to a check cashing place when you can do it for free with a checking account.
2007-07-21 11:16:36
Rick B: A checking account is typically free. You can certainly find a free account at most banks.
Yes, you can deposit money and checks into the account, then you can write checks out of it, or withdraw the money at an ATM or at the bank.
2007-07-21 11:21:55
Yes, you can deposit money and checks into the account, then you can write checks out of it, or withdraw the money at an ATM or at the bank.
2007-07-21 11:21:55
Patrick M: Yes, you can deposit checks, and/or cash into your checking account. You can also write checks on the account. You can receive or send money by wire transfer also.
Whether it is free or not normally depends on the bank, how much money you keep in the account, and if you do other things with the bank like investments and mortgages.
Typical might be the checking account is free if you keep an average balance of $2,500 in it. Otherwise they might charge a monthly service fee, or a charge per check written, etc.
2007-07-21 11:23:00
Whether it is free or not normally depends on the bank, how much money you keep in the account, and if you do other things with the bank like investments and mortgages.
Typical might be the checking account is free if you keep an average balance of $2,500 in it. Otherwise they might charge a monthly service fee, or a charge per check written, etc.
2007-07-21 11:23:00
dudemanyeah: yes, a checking account will let you deposit money and withdraw it. Many are no-fee accounts, as long as you do not overdraw. You may wnt to look into a savings account or moneymarket instead, because they will give you interest on any money you leave in the account. You may also want to look into a credit union as well, they often have lower initial deposit limits and fewer fees. Hope this helps.
2007-07-21 11:23:29
2007-07-21 11:23:29
Sonia M: The best FREE chceking account is @ Washington Mutual - The only cost the checks and no direct deposit needed.
You can deposit - or store cash there and gain interest!
2007-07-21 11:27:09
You can deposit - or store cash there and gain interest!
2007-07-21 11:27:09
Chosen Answer
knj601: Yes a lot of banks have free checking but some banks make you purchase your first box of checks...also some banks put holds on checks you deposit regardless if it is a payroll check or not. So if you deposit your check on Thursday you may not be able to get money out on Friday because your check could be on hold. You should look into hold days on checks deposited, as well as fees associated with accounts (**non sufficient fund fees** for each item that comes out of your account to make you negative you can be charged a fee which can be anywhere from 25-35 dollars, just imagine 3 items is quite expensive) I work at a bank and a lot of people have issues with this, just giving you a heads up.
2007-07-23 17:51:03
knj601: Yes a lot of banks have free checking but some banks make you purchase your first box of checks...also some banks put holds on checks you deposit regardless if it is a payroll check or not. So if you deposit your check on Thursday you may not be able to get money out on Friday because your check could be on hold. You should look into hold days on checks deposited, as well as fees associated with accounts (**non sufficient fund fees** for each item that comes out of your account to make you negative you can be charged a fee which can be anywhere from 25-35 dollars, just imagine 3 items is quite expensive) I work at a bank and a lot of people have issues with this, just giving you a heads up.
2007-07-23 17:51:03