Banking Checking

September 8, 2010Bank Accounts and Ratesby EconomyWatch

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Introduction

Banking checking account allows the customers to make their purchases using a check card and a banking checking account is an account that is opened by the customers at any financial establishment. Customers need to use their account by writing checks. One of the constraints banks normally maintain is:

  • Banking checking account balance must not fall below a specified minimum amount as defined by that particular bank. Bank has the right to impose service charge, if the account balance falls below that specified minimum amount.

Customers can apply online, to open banking checking account. In that case the applicant normally needs to be minimum of 18 years of age or older, valid citizen, and bears a social security number. Banking checking accounts are basically projected to fit the financial needs of the customers.

Some of the popular kinds of checking accounts are as follows:

  • E- checking: This kind of checking account is accessible through online with free charge. Normally customers do not need to maintain any minimum account balance nor he needs to pay any monthly service charge.
     
  • Value checking with interest: This is another kind of banking checking account, where higher interests are given for maintaining higher account balance.
     
  • Convenience checking: It is a handy banking service, where customers required to maintain a low minimum daily balance that can waive fees.
     
  • Free Checking: It is the most advantageous type of checking account, where customers do not require to maintain minimum daily balance. No monthly service charge will be required .
     

Some of the leading banks who provide some effective banking checking facilities are:

TCF bank, Bank of America, Central Pacific Bank, Cardinal bank, US bank, HSBC, Checy chase bank etc.

Features of banking checking account

Most of the leading banks normally maintain some common features, although bank wise, the nature service may slightly differ. For example, all TCF banking checking accounts include features like:

  • Customers can acquire free TCF check card
  • Customers can attain the facility to process their transaction through ATM counters
  • Customers can also get a free 24-hour automated phone service
  • Free online banking facility with provision to access check images
  • Customers will also be able to have services related to banking checking through phone

 

Banking checking types

Most of the banking checking accounts are of similar types. Some banks may provide some specific types of banking checking service. Some of the major banking checking types as provided by TCF bank are as follows:

  • Totally free checking: It is a simple type of banking checking, where customers do not need to maintain any minimum balance, nor he requires to give any monthly service charge. Customers will get free gift when he opens the account. Customers will also be able to access their account balance and statement through online
     
  • PLUS e checking: Someone who likes to process his business electronically, i.e. through online, should opt for this option. No service will be levied if customers able to maintain their deposits of $100 or more. Customers will also be able to pay their bill or access the image statement through online banking, which is available 24-hours a day and seven days a week.
     
  • TCF power checking: Customers required to maintain a daily account balance of $1,000, if they opt for this type of banking checking account and in that case they do not need to pay any monthly fee. The other facilities, like provision to pay bill online and doing online banking are also there. Not only this, customers will be able to earn attractive checking rates.

The other premium banks like Bank of America, Central Pacific Bank, Cardinal bank, US bank, HSBC, Checy chase bank are also providing some attractive banking checking types, which contain almost similar features like accessing online banking, online statement etc. and impose some constraints like maintaining a minimum monthly balance etc.

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