How to Learn About Checking Accounts
- 1). Ask your friends and your family members about the checking accounts they use. Banks always advertise the best aspects of the accounts, but speaking to existing customers about their experiences can give you a greater understanding about the accounts. Talk to people of a similar age who have financial needs and circumstances similar to yours. You might find that a rich uncle likes a particular account, but if you do not have a lot of money, the account may not work for you. Ask co-workers and neighbors about their banking experiences. The level of customer service available often makes a big difference, so asking local people about banks lets you learn about the kind of service you can expect to receive.
- 2). Visit several banks and credit unions. Ask about promotions. Financial institutions often give away free gifts to new customers or offer discounted rates on related products such as credit cards. Most bank account promotions are market-specific, so you cannot find out about the promotions by going to the corporate website.
Ask for a copy of the depository agreement and fee schedule from each bank you visit. These documents go into precise detail about every checking account rule, regulation and fee. Generic account fliers usually mention only a few points and do not give you details of monthly service fees, overdraft charges, transaction fees and processing cutoff times. - 3). Go online. Several websites, including Bankrate.com, Checkingfinder.com and FindABetterbank.com, allow you to perform searches for checking accounts in your area. The websites do not include information on special promotions, but they let you see the account offerings from several banks, which are listed side by side for comparison purposes.
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