Tightening Your Budget

Checking accounts have come a long way over the years, and today these popular bank accounts have many features that you may not even be aware of. If you are looking for a new bank, you may want to shop around and find one that offers the following types of features with checking accounts.

Technology

As you look for a bank to use for a new checking account, look for one that keeps up with technology. Any bank like this will offer the following two features:

Online Banking

Online banking is vital today. According to American Banker, four in five households use online banking services regularly, and this is something that almost all banks now offer. Through online banking, you can handle almost all of your banking needs from the comfort of your home, and this is important in today's society.

Life is so busy for many people, and having the ability to bank from home offers convenience and simplicity. This feature allows you to do everything from paying your bills to transferring money between accounts.

Mobile App

According to Business Insider, one in five people in this world own smartphones. A smartphone allows people to browse the Internet no matter where they are at, and it also allows people to download mobile apps. A mobile app is an application designed strictly for cellphones, and its purpose is to give the user an easy, safe, and convenient way to look up a business.

For a bank, offering a mobile app encourages customers to bank from their phones. Users can do so many different things from a bank mobile app, including:

• Transfer money
• Pay bills
• Deposit checks
• Look up balance and cleared transactions
• Print statements

In addition to this, users can set up alerts on the apps, and these can come in quite handy. If you get a mobile app for your checking account, you may be able to set it up to alert you when:

• A deposit is made
• A transaction occurs, such as a debit card purchase or a cleared check
• Your account balance drops below a certain amount
• Your account is overdrawn
• You have scheduled payments coming up

Banking on your phone saves the bank money, and because of this, many banks offer free checking accounts. To qualify for a free account, you may have to agree to download the mobile app or use online banking.

Other Important Features

As you compare the options you have, you should also keep these important factors in mind when choosing a checking account:

Free

Many banks offer some of the best free checking accounts. In other words, you will not pay a monthly fee to have the account. In exchange for a free account, you may have rules or stipulations to follow. An example of this is that you may not be required to sign up for electronic statement delivery. Another example is that you may only be allowed to write two checks per month.

Fees

If you write a lot of checks per month, you may want to look for a bank that offers an account with unlimited check writing. A bank that offers this will let you write as many checks as you want, and you will not get charged per check. You will also not have to worry about paying a fee if you reach the limit because there is no limit in place.

ATM Availability

A lot of people use their debit cards to pay for things and to withdraw money. If you plan on withdrawing money, you should look for a bank that has local ATM machines for you to use. Typically, a bank will allow you to withdraw money from their ATM machines for free, but you may have to pay a fee when using machines from other banks.

There are hundreds of banks to choose from, and you have the freedom to bank with the one that offers the best features for your needs. Shop around before making your choice, and find out which one will work best for you.