Fees associated with a checking account

Checking accounts are services provided by banks and other financial institutions. They are a simple and user friendly method of depositing and withdrawing money. The monotonous and tedious visits to the bank have greatly reduced since the introduction of checking accounts.  Money can be transferred to a third party by the issue of checks. These accounts can be used by employers to pay their employees in an efficient manner without investing time.

One can manage his funds through ATM machines. In order to enjoy this liberty one must own an ATM or a debit card. All transactions can be made through the ATM by the mere swipe of a card. If the checking account is managed wisely the advantages it offers are endless. All transactions made are recorded by the bank. Transaction information is then transferred to the account holders check book for his future referral. One must be sure to keep a close eye on the checkbook as it will keep him aware of the balance left in his account.

Most banks offer checking accounts. Terms and conditions of this account vary for each bank. The account holder must be well aware of these terms and conditions to avoid disappointments later.  Checking accounts have a number of fees associated with them. Fees charged vary for each account

Fees

A thorough knowledge of the different fees is essential in managing a checking account. One must survey different checking accounts offered by various banks to find an account that meets an ones’ expectations and needs. The types of fees associated with checking accounts are as follows

• Minimum deposits are the charges that one most make in order to open a new checking account. These charges may be minimal. These charges may be charged depending on the bank.
• Certain accounts have a high minimum balance. The balance has to be maintained above the minimum balance as set by the bank. If the account holder is unable to maintain this balance penalty charges will be fined.
• Some banks charge for the issue of check books. Each check book contains a certain number of checks. The banks charge the customer for the issue of check books.
• Money withdrawals and deposits can be made through ATM’s. It is best to make transaction though ATM’s owned by your bank. As each bank offers a minimum number of transactions to be made through ATM’s of other banks. Once this cumber is   exceeded each transaction through another ATM will be charged