18 Replies to “The Value of Checking Accounts”

  1. Checkbooks no longer exist where I am. I find them tedious and it’s easier to pay off with a debit card or online. Often, I also prefer to pay in cash for small purchases.

  2. Checking account provides the versatility of both on-the-counter and online payments. You will be able to make installmental payments and arrange for standing order with your bank. But, the holder’s signature has to be kept confidential always against theft.

  3. Checking out is something like current account. Am I correct? I think I failed to get the key concepts clear. However, the article gives an exhaustive list of banking activities that might not be done with the help of an ordinary savings account.

    1. Yes, checking accounts basically use your own funds and they have a debit card and checks attached to them for your options to use when making purchases or other transactions. Standard savings accounts don’t have these perks. A savings account is basically just that: a place to save/hold your money while earning some interest. Earning interest is one advantage that a savings account has over a checking account, because with most checking accounts you cannot earn any interest at all.

  4. Checking accounts in the new thing when it comes to monetary transactions, its the most convenient and will be useful if someone is keen enough to follow all the instructions. Enjoying the services fully

  5. If you can keep your checkbook safe, this is the best way to make payments. This way, you are not required to keep a huge amount of money with you always, anticipating a need to make unexpected payment. Use of debit cards is very convenient too.

  6. I have had several Checking Accounts in the United States for Awhile(25 years).
    Moved to Mexico City about a year ago,I have not opened up a Checking Account yet.
    Funny enough,I don’t miss being charged unnecessary Fees…

    1. Yes, fees are definitely one of the drawbacks of a checking account. Gotta really be careful to avoid these whenever possible.

  7. I have always found that checking accounts are very convenient and versatile. With such an an account it is not necessary for me to carry cash in large amounts, wherever I go.

  8. It is gd to have a check book anytime you are outside the house or country. I think it is very common to have a debit card too.

  9. I think there are great benefits to be derived from having checking accounts because if you apply for credit then you can also show the provider your bank statements. Also the fact that there is the convenience of having a debit enabling your to withdraw cash whenever it is convenient for you.

    If you keep your account in credit then sometimes you can benefit things like cheaper mortgages, cheaper insurance, cash backs and other perks.

  10. This article is very good for college students and late teen/early 20 somethings that may not have a clue how checking accounts and other such things work, but this article to me seems outdated. Who pays for anything by check anymore? Bills, and even rent now is paid online, through direct deposit, or through apps. I honestly haven’t even written a check in YEARS.

    1. You’d be surprised at how many people still use/balance checkbooks. It may be phasing out, but not yet. Just like people still use cash, many are still holding on to their old school checkbooks.

  11. Balancing a checkbook ledger every time is not necessary if you make a habit of always leaving more than enough money in your checking account. I have been writing checks for 15 years and have never touched my ledger, nor ever had an overdraft.

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