A Guide To Different Types Of Checking Accounts

By Author: Jeniffer Thomus
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There are various kinds of checking account. Here is a guide for you to know each one of them:
Free Checking A/c- it is more popular sought of a checking a/c amongst an average person as there is no monthly charge here. You can main any balance and can write as many checks but you can be charged on a check bounce or overdraft debit card fee. Also, if you draw money from an ATM that is not of your bank then also some is charged.
Express checking A/c- here your account works as a basic checking a/c but you do not need to meet the teller. You can do all kinds of transaction for free but when you visit the teller to speak to him at the bank, you are charged a fee.
Joint checking-A/c- it is most of the times used by married couples. This account works same as basic checking account but both the person whose account it is, have equal rights and responsibilities.
Senior or Student A/c-this back account is primarily for the use of students who are studying in school and for seniors with age limit of 55 or more. This kind of an account has benefits such as free checks, less or no fees ...
... on money orders, travelers’ check or cashier’s check.
Basic checking A/c-it is for a normal person. He would get an account for ATM withdraws, would get a debit card for daily usage. The holder in this case can write checks for paying the bills and can also get his paycheck deposited from his employer in it only. Mostly one need to maintain a minimum balance in it and number of check you write would also be fixed. Simply apply for short term cash loans and avail cash straight into your basic checking account.
Lifeline Account- these accounts are for low income groups. They are needed by law in Massachusetts, New Jersey, Minnesota, Vermont¸ New York, Rhode Island, and Illinois. Fees and other terms are decided by the law itself, not by some bank.
Money Market A/c-this account, a mix of savings and checking account is for people who maintain a high balance than other checking accounts and can also pay interest. The holder can write checks or withdraw money from ATM. A certain amount fixed by the bank has to be maintained.
Interest-Bearing Account- the holder gets a monthly interest but has to maintain a certain initial deposit and a fixed balance maintained in it. This account is maintained by very less people.
Online A/c- Many financial institutions offer this account where you enroll online with an option of online banking, it not a real account. With few limitations and benefits, you can manage your transactions online.

Jeniffer Thomus is expert financial advisor and have a great vision on finance. She provides best views in finance related matters. She writes articles on short term same day loans @ http://www.shorttermcashloansuk.co.uk/short-term-same-day-loans.php. She also shares her views on short term instant loans and short term no guarantor loans.