Key Takeaways Most “best checking account” lists only cover the free ones. That skips a whole category of accounts that charge $12 to $25 a month but give back more in perks, welcome bonuses, or overdraft protection than the fee ever costs. 72% of checking accounts charge a monthly maintenance fee, averaging $13.24 a month,…
Key Takeaways If a bank ever denied your checking account application for reasons that seemed to come out of nowhere, ChexSystems may have been behind it. Most people don’t hear of the company until it blocks them from opening an account. According to the Consumer Financial Protection Bureau, ChexSystems collects and reports data on checking…
Key Takeaways Finding a charge you didn’t make is unsettling, but federal law gives you real protection, provided you act within specific timelines. Wait too long, and a $50 problem can become an unlimited one. If you notify your bank within 2 business days of discovering a lost or stolen debit card, your liability is…
Key Takeaways Overdraft protection sounds like something you’d obviously want. Protection is good, right? But the term covers several very different services, some of which cost you nothing and some of which quietly charge more than the problem they’re solving. If you overdraw your checking account with a linked savings account, money transfers from savings…
Key Takeaways Every bank transaction you’ve ever made- direct deposit, a bill payment, a wire transfer- relied on 2 numbers working together: a routing number and an account number. They look similar sitting at the bottom of a check, but they do completely different jobs. The short version: your routing number identifies your bank. Your…
Key Takeaways Your paycheck, your rent autopay, and a home down payment all move electronically between banks, but not through the same system. Some transfers batch together overnight and cost nothing. Others move individually within minutes and cost real money. Knowing which is which determines both what you’ll pay and whether you can undo a…