Who Can Have A Checking Account
If you are eighteen years of age or older and have the amount of money necessary to for deposit in order to open the account, you can have a checking account. The demands for opening an account are different in each bank. Some banks require as much as Two Thousand Dollars to be deposited in order to open a checking account. Other banks will ask that you deposit Fifty or a Hundred Dollars. There are a few banks that do not demand an initial deposit but ask that you direct deposit something like your paycheck or social security check or other money you may be getting on a regular basis.
Like deposits for opening your checking account, some bank will charge a fee for every check that is written, and other banks will offer free checking. There are fees associated with checking accounts that are usually taken from the balance in the account. Overdraft fees are usually withdrawn from the deposit following the overdraft. However, most banks offer overdraft protection in the form of a savings account from which the overdraft fee can be withdrawn or, an overdraft protection plan for which you pay monthly.
Most banks today offer a debit card with a checking account for which there is no charge. Debit cards are honored at almost and store and are much easier to use than a check. The debit card can be used to pay your bills online or on the phone. There is no need to be date conscious with a debit card as you can pay your bill on the day it is due. With designer checks you have to be sure you send the check early enough to get there by the due date to avoid late fees.