Getting Started: Checking Accounts
A checking account is an important financial tool, one that allows you to deposit money into an account and withdraw it for transactions. With a checking account, you can keep your money secure and access it with ease in person or online.
A checking account is an account that gives you a secure place to deposit your money to withdraw and use for everyday transactions.
Often, people with checking accounts use their debit cards – a card directly linked to your account – or paper checks for purchases, and there are many ways you can make a deposit into a checking account.
Ways to Use a Checking Account
A checking account makes it easy to deposit your money, and it keeps your money safe. Your deposits in each account are insured up to $250,000 by the FDIC if you’re at a bank or by the NCUA if you're at a credit union. Deposit options for checking accounts include:
- Direct Deposit | Your employer can deposit your paycheck directly into your checking account, saving you time and sometimes resulting in earlier paydays.
- Mobile Check deposit | Deposit a check from anywhere using just your phone – it’s as easy as taking a picture!
- ATM | An Automatic Teller Machine gives you access cash from your checking account via your debit card and a secure code.
- In person with a teller | Go to a credit union or bank branch in person and deposit your check or withdraw funds.
- Wire transfers | Transfer money electronically from one account to another, both domestically and internationally.
Rewards, fees and minimum-balance requirements are different for each financial institution and account, so be sure to do your research on what kind of account would best suit your needs.
A+ Tip: The NCUA has a helpful credit union locator, allowing you to find the credit union closest to you.
How to Open a Checking Account
Once you’ve selected the credit union or bank you’d like to work with, you’ll need to provide information to open an account. Typically, that information includes:
- Name
- Mailing address
- Phone number, email address
- Date of birth
- Social Security number
A checking account is a great way to start building up and tracking your finances, and it gives you a secure and insured place to put your spending money.
A+ Tip: Affinity Plus has a selection of checking and spending accounts . Wherever
you are in your financial journey, we have an account made to work for you.
