Overdraft Protection: Pros and Cons
Is it protection worth having? Checks and other debit transactions clear when you sign up for overdraft protection, even if your account lacks sufficient funds. In exchange for this service, your bank may charge hefty overdraft fees. Is this protection worth having? Here is a look at the pros and cons. If you don’t have …
How to Deposit Checks Made Out to Children
While children often receive wrapped presents from their parents on their birthdays and during the holidays, out-of-town relatives might prefer to send a check. This is more cost-efficient than paying the high shipping prices associated with mailing a gift. Of course, your family member might write the review in the name of your minor child, …
How to Open a Checking Account Online
Opening a checking account online is easy, quick, and painless for most people, but there are several things to consider before you begin the process. For starters, do you want to open a regular checking account using the online platform of a traditional brick-and-mortar bank or credit union, or are you more interested in an …
How to Cancel a Check
A check is a common form of payment used when purchasing goods or paying for service received. The entity that acquires the check would usually cash the bill at the bank, where they would receive the funds, either immediately or after a certain period, depending on the bank’s policy. However, if a check falls into …
Certified Check vs. Cashier’s Check: What’s the Difference?
When you’re expecting a big payment, you may wonder what’s the safest way to receive it. For example, you might be selling a high-ticket item to a stranger through Craigslist. And if you’re the one who needs to make a large payment—for a down payment on a house or when purchasing a car, for example—the …
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How to Cash Checks Payable to Multiple People
Checks are usually made payable to a specific person or organization, but sometimes a single statement is made out to multiple names. A review might go to a married couple, several roommates, or any other group with a shared interest or ownership. A single word on these types of checks is dictates how they can …
How Long Is a Check Good For?
Checks can make payments inexpensive and easy, but what happens when nobody deposits them? At some point, bills go stale. But the obligation to pay still exists, so it’s best to deal with payments as soon as possible. Checks Written to You Unless you have a government-issued check or certified check, it’s wise to deposit …
Understanding cheques
A cheque lets you make a payment from your bank account. Find out how it works and how to keep track of your money. Key takeaways Make sure you have sufficient funds in your account for the cheque amount. Cross your cheques to ensure that only the payee can deposit them. Record and track all …
Five ways to cash a check without a bank account
If you have a checking or savings account at a federally insured bank, you should have no trouble cashing a check there. There are ways to cash a check without a bank account, but they cost more money, often require more time and involve more risk than check cashing at a bank where you have …
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What Are the 6 Different Types of Checking Accounts?
Checking accounts are an essential part of the banking system. These deposit accounts give consumers a place to deposit their money, make transfers, write checks, pay bills, and do other routine banking transactions. The money in checking accounts is safe, as accounts are insured for up to $250,000 per depositor by the Federal Deposit Insurance …
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