One of the best ways to make sure your money is safe and secure is to pick a checking account that offers you all the benefits you need. Luckily, there are plenty of options out there that can provide you with all the features and benefits you deserve without costing you an arm and a leg. In this blog post, we’ll cover five different traits that are particularly important for checking accounts: no minimum balance fees, ATM fee rebates, nationwide access, digital wallet compatibility, and advanced security features.
No minimum balance fees
One of the main features of a good checking account is that it doesn’t charge a monthly maintenance fee, and that makes checking accounts ideal for students. You can open a student checking account to reap maximum benefits.
Unlike this, some banks require you to keep a minimum balance in your account or pay fees if your balance drops below a certain level.
Luckily, many accounts don’t charge any fees at all (though they might still charge interest). You just need to look for them.
ATM fee rebates
The best checking accounts offer rebates on ATM fees, both domestically and internationally. Some of them will also give you a refund if you make purchases with your debit card or cashier’s checks. It’s important to note that these are not reimbursements but rather rebates applied directly to your account balance.
This is especially helpful if you’re planning to travel abroad and want to use ATMs for currency exchange. Additionally, some financial institutions offer more than one type of rebate (for example, one might have reimbursements for domestic transactions only).
Another perk of a good checking account is that it can be used anywhere. As long as you have an internet connection, you’ll be able to check your balances and make deposits on the go. You also may be able to pay bills or set up electronic payments through your bank’s mobile app or website—and if not, your bank’s customer service team should be able to help you get set up with these features.
Digital wallet compatibility
You can use your checking account to pay bills, transfer money, and shop online. And it can also be a convenient way to deposit and withdraw checks with your phone—saving you another trip to the bank. Plus, some accounts let you use the mobile app to make purchases with Apple Pay or Android Pay right from your smartphone.
Advanced security features
While having a checking account with the best of the best is important, so is knowing that your money is safe. That’s why it’s worth looking for one that offers bank-level security and advanced security features to keep your money protected from theft and fraud. Some of these include:
- A secure mobile app
- Two-step verification (the second layer of protection that requires you to enter a unique code sent to your phone before accessing the app)
- Fingerprint login (enables you to use biometric identification instead of typing in a password)
- Pin code access (lets you choose between using a pin number or fingerprint login)
The best checking accounts are ones that fit your needs. As professionals at SoFi put it, these accounts “make it easy to organize your savings, set up recurring deposits, and track your progress.” If you’re looking for a checking account with great rewards or no fees, there are plenty of options out there for you. The key is to find one that works best for you and your lifestyle!