Checking Account Promotions

A checking account offers the holder many more services and facilities than a traditional savings book account. You could compare a savings account to a long haul truck and a checking account to a fully fitted recreational vehicle, with all the bells and whistles. The checking account, being the banking facility which you use for your day-to-day and living expenses. There are many bank checking account promotions which will offer the right package for you.

Once your checking account is open, you will receive a check book and a check card which you will use to perform transactions on your account. You will use your check book when you wish to pay a person face-to-face or by mail, by writing a check for the desired amount. Your check card you will use to withdraw cash from the ATM or to pay for goods or services, by swiping your card at the till point – exactly like a credit card. The difference between a check card and a credit card, is that you are using funds which you already have in your account, whereas a credit card is a short term loan facility. You may also write a check and cash it over the counter at your bank, should you prefer.

If you write lots of checks, look for checking account promotions, which offer free or discounted rates on paper checks. Alternately, if you will be making more electronic transactions then look for a special offer on electronic transactions as a possible checking account promotion.  Or perhaps a great rate for a money market account you’re considering in lieu of a checking account.

In this day and age, when honor and honesty is a long forgotten aspiration of many people, it is simply not safe to leave your check book unattended for even a moment. It is very easy for someone to tear a check out of your checkbook and to then use that check to pay for goods or services. It will then be up to you to prove that you did not make that transaction, especially if the fraudster made a good counterfeit of your signature.

Make sure to watch out for repeated overdrafts, which can potentially add hefty overdraft fees to your account. You don’t want to waste money on those overdraft fees, and get into an unpleasant debt situation, where you are getting debt collection calls everyday – wishing you could stop creditor harassment then and there.

The same goes for your ATM card, be very careful when keying in your pin number and never accept any assistance from strangers who may swap your card and then steal your money. When paying for goods at the till point, never let your card go out of your site as unscrupulous clerks may carry a device in their pockets, which is used to clone your card. Some checking account promotions include insurance against this type of fraud, which is a necessary protection in these modern times.

Opening a checking account may seem like a daunting task, however advances in modern administrative techniques and the move to paperless systems have resulted in applications been handled quickly and efficiently. When opening a checking account, be sure to find out about checking account promotions and special offers before making any final decisions.

Once you have decided on a package then you need to go into your local branch and open your account personally. By doing this you will be building up a personal relationship with the staff members of your local branch, which will always result in better service and recognition.

Be sure to take all of your paperwork with you, including your identity documents, pay slip, your tax and all necessary governmental requirements. Take along proof of address, in the form of a lease or a utility bill. If you wear spectacles then don’t forget the obvious and not take your reading glasses as it will be important to read all your contracts thoroughly. Ask the consultant if the bank offers a cooling off period which is a space of time, normally two weeks, within where you may cancel your contracts without prejudice. This is know as buyers remorse. All checking account promotions need to be thoroughly scrutinized beforehand.

After you are happy with the terms and conditions of your contract, then you must sign it immediately, so that everything from there on will be governed by that contract and service level agreement. There are consequences in everything that you do with a bank, loosing your money is no joke, so make absolutely sure that you are covered 100% Do not break the terms and conditions that you agreed to, as the bank are very strict with conduct.

The bank will ask for a sample of your signature for verification purposes and to settle any disputes that my arise. When you sign your signature sample you must sign it neatly. This may be the difference between loosing money or being refunded in the case someone defrauding you.

Make sure that you are given copies of all the contracts that you sign and if you do not understand something then you must ask. Do not be shy, the consultant is bound by law to ensure that you understand every word of every agreement. In the case of checking account promotions, ensure that they don’t have separate terms and conditions.  No matter what type of checking account you choose to go with, also think about what type of financial software you’d like to use to manage your account(s).