Do I Need a Checking Account? 

What is a checking account?

A checking account is a type of bank account — a financial arrangement between an individual or business with a bank, credit union or financial services company — that allows the owner to manage their everyday finances by depositing and withdrawing money.

Along with day-to-day money management, like buying lunch, getting money from an ATM or depositing a check, you can use a checking account to pay monthly bills like rent or utilities. This way, you get a record of your payments and keep track of your expenses.

Your checking account may come with a debit card, paper checks, and online and mobile bill pay to make spending and saving quick and easy. Checking accounts are also FDIC-insured up to the maximum allowable limit.

Do I need a checking account?

Opening a checking account is a first step toward taking control of your finances and reaching your money goals. Since banks don’t charge clients to cash checks, checking accounts can help you keep more of your money. Look for checking accounts without monthly maintenance fees, or monthly maintenance fees you can avoid, so you don’t pay to have the account. With benefits like mobile check deposit, person-to-person payments and more, having a checking account can really help you take the next step toward financial security.