Checking accounts are not only limited to checks but they also offer a number of advantages and services to the users. If used effectively, one can make the most from their checking accounts. While the basic checking accounts services include deposits, withdrawals, and managing one’s money, they also offer various other add-on services. Following are some tips that would help an account holder to make the most from their checking accounts:

1. Availing all the basic services offered
As mentioned earlier, the basic services of checking accounts include withdrawals, deposits, and managing money.

• Deposits

These can be done either in the form of direct deposits or paper check deposits. The latest feature that has been added to this service is mobile deposits. This service allows consumers to use a smartphone application to scan a check for depositing money in their account.

• Withdrawals

As a part of checking account services, withdrawals can be carried out either by swiping debit cards, through paper check payments or by withdrawing cash from ATMs. New services include mobile payments and person-to-person payments. In the first type of service, the users can use their smartphones at retail stores and other establishments to make payment against purchases. On the other hand, in the second type of service, users can send money to other people electronically either through their cell phone numbers or their email addresses.

• Money management

Banks alert their customers either through texts or emails regarding any form of business transactions or the time when the users are required to make a payment online.

2. Avail add-on services
Along with basic services, users can also avail various add-on checking accounts services such as foreign currency exchange, safe-deposit boxes, reloadable prepaid cards, remittances, and cashier’s checks. While some banks offer online services, some other banks offer direct access to the customers in person. Several banks also offer a wider network of ATMs that allows users to carry out their basic transactions conveniently, especially when the branches are not operating.

3. Take help of relationship banking
Many premium banks offer additional checking accounts services to select account holders with a complex financial need. They offer various perks such as a certain amount of discount on a home equity loan, higher rates for savings accounts, and bonus points for transactions on credit cards, certificates of deposits and many more. Another additional service includes rewards offered by checking accounts. This involves bonus interest rates for customers who maintained a higher account balance or who have made a certain number of business transactions in a month.

4. Compare the available options
To make the most of checking accounts services, one must compare all the available options. They should check with various financial institutions regarding their monthly fees, ATM networks, opening and minimum balance requirements. One should also emphasize on charges against per check among other factors before selecting a suitable one as per their convenience.

Checking accounts are very useful and having an understanding about ways to optimize them will help you avail several benefits.