Maintain your old Siemens Hipath system

Have You Ever Opened a Checking Account?

Maybe some of you are saving it in your trusty piggy bank, under your mattress or way back in a sock drawer. Although I'm glad that you are saving, your money is not doing anything for you locked up in your house. Consider a checking account where you can make some interest on your money. And for those of you who already have a checking account, after reading this article you may want to change banks.

Checking accounts are the most popular accounts banks hold. People use them to pay bills and expenses but did you know that there is more than one type of checking account? To name a few there is the basic checking, free checking, interest-bearing, joint checking, express, lifeline, senior/student checking and money market. For a summary of them, go here (http://www.bankrate.com/brm/green/chk/basics1-1a.asp).

Choosing a checking account

You should put more thought into getting a checking account. Why you ask? Because some charge you for an in person transaction or have a high insufficient fee, or ATM fee, even when you use one of their ATMs, etc. When selecting the right account for your needs, you have to take all your banking habits into consideration. Think about whether you bounce checks on a regular, how many checks you write a month, if you prefer to get your statements in the mail or view them online, if you prefer to do your banking online, by phone, at ATMs or work with a bank teller in person, how much money you usually keep in your account, etc.? Knowing all these things beforehand will make it easier for you to pick the right bank and checking account to keep your money in your account and not in the bank's greedy hands.

Free checking really free?

Some banks say they offer free checking but there are all these stipulations, such as if you don't maintain a certain balance then you will get charged X dollars a month until you meet the minimum. Other banks charge a fee for using the account. According to the Federal Truth in Savings Act, free checking means that there are no minimum balance requirements and no monthly activity and maintenance fees. But that doesn't mean you won't get charged for bouncing a check, stopping a payment or writing more checks than you are allotted for the month.

For those of you who still write checks, you can no longer count on having a couple of days before the money actually comes out your account. I just found out there is a law that took effect in October 2004 called Check Clearing for the 21st Century Act (Check 21). This law was designed to speed up the payment of bills. If you write a check to the light company, they can convert it into an electronic check and e-mail it to their bank without having to send the actual check through the mail. This may not concern those twentysomethings who manage to keep money in their account but for those of you who are living paycheck to paycheck, this might be a problem for you.

Bouncing Checks

Banks want to pretend that they are on your side. Look at this example taken from Bankrate.com.

"Say you had $300 in your checking account and you wrote six checks totaling $375. The six checks are for $200, $12, $50, $60, $23 and $30. If they all came back to the bank on the same day, the bank will clear the $200 check and the $60 check and bounce the rest since the next largest check ($50) won't clear." You would have to pay four separate insufficient fees. At my bank the insufficient fee is $30. That would be $120! Although the bank could have cleared the smaller checks first, their stand is that the larger checks could be for something more important such as a mortgage or car loan.

To avoid getting those pesky insufficient charges, consider getting overdraft protection. In order to get it you have to have another account with the bank, whether it's a savings account, credit card or some other line of credit. So if you overdraw your checking account, the bank will pay the remaining balance and take the money out of your account. As long as you keep money in your other accounts, the bank guarantees the check(s) will be paid. You will still get charged a fee but it will be dramatically less than the insufficient fee. But the trick is you have to request the overdraft protection. The bank will not automatically cover your checks because you have other accounts with them.

Okay, I have just given you a summary to get you started on choosing the right bank to hold your money. The rest is up to you. In fact, I'm thinking of changing banks myself, in researching for this article I just realized I am getting ripped off. For more on checking accounts go to bankrate.com.

ChaChanna Simpson is the publisher and editor of Twentity.com, the free ezine for twentysomethings, featuring cheap and free events every Wednesday. Subscribe at http://www.twentity.com

In The News:

Sri Lanka: At least 207 dead and 450 injured in eight explosions
Sun, 21 Apr 2019 05:26:00 +0100
At least 207 people have been killed in a series of Easter Sunday explosions targeting churches and hotels in Sri Lanka.

He stood up to Sudan's tyrannical government. Soldiers shot him dead
Sat, 20 Apr 2019 19:15:00 +0100
As Sudanese soldiers fire live rounds at unarmed protesters, a young man stands his ground, then moves forward, berating the soldiers for firing at civilians, telling them they should be ashamed.

Comedian wins Ukraine presidential election - exit poll
Sun, 21 Apr 2019 18:14:00 +0100
Comedian Volodymyr Zelenskiy has won Ukraine's presidential election with 73% of the vote, according to an exit poll.

Anger over Notre-Dame donations as yellow vest protests turn violent
Sat, 20 Apr 2019 17:19:00 +0100
Protesters have voiced frustration that the effort to save Notre-Dame Cathedral is overshadowing the yellow vest movement's demands, as protests in the French capital turned violent.

Gorillas appear to pose for selfie with park ranger
Sun, 21 Apr 2019 10:33:00 +0100
A photo has emerged of what a park ranger claims to be a selfie with two gorillas in the Democratic Republic of Congo.



tikatoshop.it

Erfahrungen mit Pallhuber Wein
Agen Bola SBOBET Terpercaya

Travel in comfort and at your leisure with CT Airlink Limousine & Car Service for top quality private transportation and exceptional customer service. We operate Sedans, SUVs & Vans for CT Car Services to covering all Connecticut airports including Car Service from CT to Newark Airport , Mohegan Casino Uncasville CT, Foxwoods Casino Mashantucket CT, Manhattan Cruise Terminal NYC, Brooklyn Cruise Terminal NYC and Bayonne Cruise Terminal NJ. CT Airlink hire licensed and friendly chauffeurs who have in-depth knowledge of the Areas.

What You Need to Know about Debt Negotiation on Credit Cards

Debt negotiation on credit cards is often referred to as... Read More

What is a Bad Credit History?

A bad credit history can sometimes seem like a curse...... Read More

Searching For A Low Interest Credit Card?

These days, people need to very carefully consider what type... Read More

Beware of Falling Minimum Payments

If you opened a credit card statement recently and were... Read More

Credit Cards and How To Choose Them:

It may seem like a simple question but its important... Read More

Cash Advance ? How Does It Work?

If you want a cash advance or a payday/paycheck loan,... Read More

5 Ways To Raise Credit Score

It's not as hard as you think to raise credit... Read More

Applying for Credit Cards Online

In the olden days, about 10 years ago, before the... Read More

Inflexible Friends and Plastic Assets, Why Money isn?t Buying Love Anymore

Consumers reject financial advice in favour of financial frivolityIt would... Read More

Credit Card Traps: How To Spot Them On The Spot!

They arrive in your mail - a conspicuous looking mail... Read More

It Is In Your Best Interest To Do The Math On Your Credit Card Interest

If you begin foaming at the mouth once a month... Read More

Ways to Look Good without Selling Your Soul to the Credit Card Sharks

1. Buy clothes at thrift stores. BEFORE you buy them,... Read More

New Credit Advice: Dont Pay off Those Credit Cards!

Credit needed for real estate mortgage financing differs from credit... Read More

Types of Credit Cards

There are a whole variety of different types of credit... Read More

Rewards Cards - Are They Right For You?

Rewards cards have become the latest rage in the credit... Read More

How to Dispute Credit Report Errors

Your credit report--a type of consumer report--contains information about where... Read More

Five Debt Negotiation Facts

These five debt negotiation facts along with a few debt... Read More

Getting Married? What Are The Finance and Credit Implications?

There is a big difference between looking after your own... Read More

Credit Cards: How To Use Them

Credit cards can be a very quick way of getting... Read More

4 Steps to Creating Good Credit

As a consumer you've learned the importance of establishing a... Read More

Credit Cards

Credit cards are a form of unsecured credit. The issuer... Read More

What You Need To Know About Credit Cards

What is a credit card? A credit card is... Read More

How To Save Money On Credit Cards

Some credit cards offer a cash advance option. But how... Read More

The Art of Stoozing to Make Money from Credit Cards

Make Money from StoozingStoozing, this is a sophisticated method of... Read More

Keep Your Credit History Clean - Remove A Negative Credit Record From Credit Report

The three major credit bureaus, Experian, Equifax and Trans Union... Read More