RateAPY

Check Out Checking Account Features

Posted by: RateAPY Bank Rates News
March 30th, 2010

Not all checking accounts are alike. There are at least ten features you need to check out. Compare all the features of a checking account before you select one. Don’t just go for interest rate. You might find that the account that offers the highest rate also has the highest fees. Considering all the features together will help you make the best choice for your money.

Checking Account Checklist

1. How much interest can you earn?
2. What is the minimum deposit required to open the account?
3. What does the bank charge for overdraft?
4. Can you use other ATMs without penalty?
5. Does the checking account come with free bill pay?
6. Does the checking account come with free online banking?
7. Is a direct deposit for your payroll check required?
8. Do you have to maintain a minimum balance to avoid fees?
9. Is there a monthly fee for the checking account?
10. Are your deposits covered by FDIC insurance?

Find an interest-earning checking account here.