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If you’re tired of sitting at the bank drive-thru or just fed up with overdraft fees, weird hours and hassles over balancing your checkbook, you may be wondering if it’s worth it to keep money in the bank.
You’re not alone. After all, many major stores, such as Walmart, offer free check cashing for a nominal fee, so you can cash your paycheck without even having a bank account. Also, you can have your employer load your check onto a pre-paid credit card for you, or even pay you by debit card.
But there are still reasons to keep your money in the bank, even if it’s inconvenient. And if you shop around, you may find that your bank or its competitors can offer you new banking plans that eliminate many of the fees you’re complaining about.
1. Your money is safe there. The Federal Deposit Insurance Corporation insures your money up to $100,000. Can your Mason jar in the back yard promise that?
2. You can earn interest on your money. True, if you don’t keep a big balance, it’s not much, but it’s better than nothing, right? It’s still money.
3. You can manage your finances better. You can sign up for online banking so you can check your balance at any time of the day and night, a reassuring feature if you’ve ever forgotten to record a check you wrote.
4. You can get paid faster. You can arrange for your boss to direct deposit your paycheck automatically, which means you can spend your money right away. If you deposit your pay in the form of a check, you may have to wait a few days before it clears. Direct deposit money is ready for you to spend the minute it hits your account.
5. You can get a check card. This means you can shop online anywhere that accepts major credit cards without having to pass credit approval. Online shopping was far more difficult before, if you only had a checking account or cash.
6. You can pay bills online. If you set up your bill pay to pay your bills automatically, you can avoid the late charges and shutoffs that can occur if you depend on old-fashioned, “I’ll send the check in” methods. But only do this with bills that stay the same, not utility bills that change from month to month.
Yes, bank accounts do cost some extra money so you can use your money, but at the same time, there isn’t yet a better alternative.
What else can I help you with?
Do you need a bank account in order to work?
No, you do not need a bank account in order to work. However, having a bank account can make it easier to receive and manage your income.
How do you get to account help?
You need to contact the bank's customer care department if you need any help with your bank account
Can I open a click bank account with no bank account or can I use my PayPal as a bank account?
PayPal is not a bank you need to have a bank account to open a PayPal account. The reasoning for this is because PayPal pulls the money from your bank to make purchases.
What do I need to wire money to a bank account?
To wire money to a bank account, you typically need the recipient's account number, the bank's routing number, the recipient's name, and the bank's name and address. You may also need to provide your own account information and possibly a reason for the transfer.
Do I need an LLC in order to open a business bank account?
No, you do not need an LLC to open a business bank account. You can open a business bank account as a sole proprietor using your Social Security number.
Do you need to have an LLC in order to open a business bank account?
No, you do not need to have an LLC to open a business bank account. You can open a business bank account as a sole proprietor or under a different business structure.
How you get interest rate?
First you need a bank account and money you put the money in the bank account, wait for a year or two and then you get more money in your bank account
How to do a bank wire transfer?
To do a bank wire transfer, you need to provide your bank with the recipient's account details, including their name, account number, and the bank's routing number. You will also need to specify the amount you want to transfer. The bank will then process the transfer electronically, moving the funds from your account to the recipient's account.
Do you need an LLC to open a business bank account?
No, you do not need an LLC to open a business bank account. You can open a business bank account as a sole proprietor or with other business structures like a partnership or corporation.
How do you transfer money from one bank account to another persons bank account?
If you want to do this online, in the UK you need their bank sort code and account number. Your bank account will then have a facility for transferring funds to that account. It may be the same elsewhere.
How much money do you need to open a student bank account in Chase bank and if there going to charge you?
You need $50 to open a student account at ay Chase bank worldwide.
When can you open a bank account after being declared bankrupt?
You can open a bank account immediately after filing for bankruptcy. There really is no waiting period.
