If you plan on opening a new checking anytime in the near future you should start doing your research now so that you don’t just jump into it and make the wrong decision. When it comes to opening a new bank account some people simply head down to their local bank and just open a new account, but if you do this you may be missing out on a better deal for your finances. Here are some tips to follow when you open a new checking account.
Before you even consider opening a checking account with a bank be sure that you check to make sure the bank is FDIC insured. This insurance guarantees that your money (up to $250,000 per person) will not be lost if something were to happen to the bank. With the way the financial industry is nowadays, it would be very unwise to invest your money into a bank that doesn’t have FDIC insurance. You should also check the Better Business Bureau and any complaint boards online to see if the bank has very many negative reviews against them.
You next need to consider what type of checking account you want to open. There are all kinds of different options from free checking accounts with no deposit to interest bearing accounts. Determine what account best fits your lifestyle and finances rather than just settling with any old account. Be sure to consider things like locality of the bank, online banking and bill payment, fees associated with the account, and how much money you will be keeping in the checking.
Lastly, once you have decided what you are looking for and have narrowed down your choices in banks, look to see if any of the places have any bank account promotions currently running. Sometimes you may get lucky and be able to sign up for one of these promotions and get some cash back or a free gift like an iPod. It never hurts to try to take advantage of these promotions if the bank is one you are interested in.
Opening a checking account shouldn’t be taken lightly. Be prepared to do some research on banks and checking accounts so that you can get the best account for you.