A joint checking account is pretty much like the normal checking account except for the fact that this particular account is jointly managed by two individuals rather than just one person. This is the best option for married couples who would like to save and use their money after pooling it into one single account. This type of account is also a great option for children and parents and for same sex …

Of the various types of accounts offered by banks, the checking account is the most important and also the most opted for. In addition to banks, there are many other financial institutions such as credit unions and other loan lending agencies that offer checking account service to customers. A checking account is federally protected and allows the account holder to either deposit or withdraw money from this account. The rules that govern …

Writing a check for a particular amount which the account holder knows is not the amount or not sufficient to amount in the account is considered a violation of a criminal law under any jurisdiction. Nevertheless, it has been a practice for some financial institution to avoid putting the client in trial by overriding the insufficiency. In return, the bank charges a subsequent fee for this kind of circumstances. Bank has always …

A joint checking is another service offered by financial institutions such as banks and credit unions which is co-owned with another person. It can also be an alternative for partners principally by gay partners that can’t be married or be legally partnered under the state law on where they live. On these circumstances, both account holders in the joint checking account have the liberty of the account which include but not limited …

There are a lot of advantages to a checking account, considering that you can get checking accounts from any bank, most credit unions, and most savings and loan companies. One exceptional reason on why you should opt for a checking account is the security of your stored money. Nearly all financial records in the US are insured, for up to US$100,000 by the Federal Deposit Insurance Corporation (FDIC). Just proactively confirm that …

An overdraft happens in instances when withdrawals in a bank exceed the account’s available balance. In this situation a person is said to be “overdrawn”. This happens when a check is written for an amount higher than the available balance. The writer of the check may face higher fees and maybe subjected to legal action. The holder of the check may demand immediate payment and penalty for the check that was returned. …

An owner of a checking account is ultimately responsible to monitory his/her available funds. All banks have many different methods that permit checking account clients to monitor their balances and keep track of their records. Monthly statements of transactions such as credits and debits are sent to the account holders. ATM machines do offer a choice to look at your current balance and online accounts can give real time data on the …

It is a special account that gives the owner the right to make checks that could be drawn from his deposited funds. Checking accounts are given with a check book. It also comes with the process to make standing orders, payments through debit cards, and direct debits. A checking account may also be called a “demand account” or “transactional account”. The holder of a checking account may use his/her personal checks to …

It is an account that permits the holder so he/she can make checks against his/her deposited funds. It is kept in the financial institution which allows deposits and withdrawals.  Money kept in the checking account will be very liquid. This can be accessed using checks, electronic debits, and cash machines which are automated. Some of the advantages of using a checking account are as follows: It is safer than cash Account …

Checks are  drafts, drawn on bank and can be used as payment, whether negotiable or not, they are handled for forward return or collection, this includes a traveler’s check and a substitute check. The check is taken against the funds deposited in the checking account of the owner. It is written on a bank, credit union, or savings institution. A check is type of contract classified as a negotiable instrument. This tells …