How well do you know your checking account? To get the most out of your bank checking account, you may need to brush up on your management skills. Review the following tips to make sure your checking account is working for you.
- Understand bank fees. For example, do you need to maintain a minimum balance to avoid charges? Is there a fee for using ATMs? What about monthly maintenance fees? Bank fees like these can eat away at your balance.
- Avoid overdrafts. A key part of managing your bank checking account is avoiding an overdraft—that is, writing a check for more money than you have in your account, which will likely incur a charge from the bank. Be sure you make note of your transactions and review account statements for accuracy. If you bank online, you can check on your transactions and balance often.
- Take advantage of special features. Many banks have ways to help you manage your bank checking account. For example, your bank may allow you to set up automatic transfers from savings to cover checking account overages. Some banks offer online alerts to let you know when your balance goes below a set amount. And don’t forget to sign up for online bill pay, which lets you set up one-time or recurring payments.
- Keep your checking account secure. Don’t give account information to anyone you don’t know, whether it’s an individual or company. Keep your password in a safe place and be sure to notify your bank right away about any suspicious activity on your account.
Ally Bank deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum allowed by law, and our interest rates are consistently among the most competitive in the country. We don't charge a fee at any ATM nationwide and, when another bank does, we reimburse you. Ally Bank also offers free online bill-pay with no monthly maintenance fees.
Learn more by visiting Allybank.com, or call live, 24/7 customer care at 877-247-ALLY (2559) today.
Ally Bank, Member FDIC