Know more about check-less checking

Bank of America now has a new option that allows customers to sign up for a checking account that would not allow them to write checks. This option provides you two positive benefits. The first benefit is to have an account with no other fees. This means, they have to pay a maintenance fee of $4.95 per month to enjoy this benefit. According to the bank, the maintenance fee is lower while comparing to other types of account. Another notable feature is that a check will never bounce from this account. Normally, a client has to pay an amount of $35 as a fee for each bouncing check. By using this facility, they can avoid such issues.

In fact, several banks have closed the option known as free checking. If you want to hold a free checking account, you have to pay a maintenance fee to have it. The client has to meet several criteria to enjoy the benefit of a paycheck direct. Some others may ask you to make a certain number of debit card transactions in a month. All this means that banks are looking for facilities to run a check free banking services.

For example, if you are looking for a safe balance account, the obvious difference here is that you do not need to pay $4.95 as a monthly fee. Another drawback while comparing with check-less checking account is that this option will never allow the client to temporarily withdraw the account. Whenever you try to withdraw all the money out of your account, it will automatically freeze. This means that you will never be able to keep the account in zero or no balance.

While using check-less account, you will never be able to write checks. This option is specially designed for specific categories of people. On the other hand, the client can enjoy several other payment options such as cash, debit card or online bill pay to settle the accounts. Money orders and cashier checks are the other two available options.

Before looking for such accounts, it is important to see who can benefit from such options. These are the best options for people who never have to write a check. This could be a better option for people who want to control their expenses.

Check less checking account has advantages and drawbacks. However, such kinds of accounts are not for everybody. Sodo your homework before you choose such an account.