4 Easy Ways to Manage a Checking Account
How to Manage a Checking Account
1. Arrange Automatic Deductions
One way to stay on top of a checking account's flow of funds is by setting up automatic deductions. It's as easy as contacting your bank and arranging for bills to be automatically paid on certain days. From mortgage payments and car loans to electricity bills, you'll know the exact amount being withdrawn from your account. You can even arrange to have automatic transfers to build funds in a savings account.
2. Regularly Balance Your Account
Staying on top of the cash flowing in and out of your checking account can be confusing. This is especially true for those who frequently use their debit cards for everyday purchases. To eliminate the confusion, make a commitment to regularly balance your account. The process involves checking your bank statement for cleared transactions against your account. Make sure they match up and take note of any monthly bank fees and interest payments.
3. Report Suspicious Activities
Today, most banks have stellar fraud divisions that monitor suspicious financial transactions around-the-clock. For instance, if the account holder lives in one state but there are a series of purchase attempts in another state or county, the bank will often make contact to ensure the transactions aren't fraudulent. You can also keep an eye out for any shady activity by monitoring your account through online banking. Be sure to call your bank immediately if something looks suspicious.
4. Use In-Network ATMs
Another way to manage your checking account is by using your bank's ATMs or those in their network. Doing so will help eliminate fees, which can chip away at funds in your account. When you don't pay ATM usage fees, you'll have a better idea of the balance in your checking account. If you do have to use an ATM out of your bank's network, withdraw enough cash to avoid going back and forth and possibly incurring more usage fees.
The convenience of having a checking account makes it easy and safe to pay bills, deposit paychecks, and even grow savings. Putnam 1st Mercantile Bank in Cookeville, TN, offers a wide range of account options designed for your unique financial needs. To learn more about the available choices, visit their website. If you have questions about any of the account's features, call (931) 528-6372 and a friendly representative will gladly assist.
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