Checking Account Facts

by Melvin Richardson ; Updated July 27, 2017

There are a variety of checking accounts you can open at a bank. Sometimes you have to speak with a banking representative to see what the features and benefits are for the specific products. Most of the checking accounts will have different features. You may want to look into the features of a business checking account if you're looking for an account that will fit your business needs.

Minimum Balance

Some checking accounts will have a minimum balance requirement. If you go below that balance, your account will be charged a fee every billing cycle that your balance stays below that minimum.

Checks

When you open a checking account, you will be issued checks that allow you to pay various creditors. If you need to reorder checks, some accounts will charge a fee and other accounts will allow you to reorder for free.

Debit Cards

You can also have a debt card issued with a checking account, which will allow you to make transactions such as deposits, withdrawals and payments. If you use your bank's ATM, you will not be charged a fee. Using another bank's ATM could incur a fee.

Fees

If you write a check for more than the balance in your checking account, you will be charged a non-sufficient funds fee.

Overdraft Protection

You can apply for overdraft protection, which gives you a line of credit attached to your checking account to keep the account from overdrafting.

About the Author

Melvin J. Richardson has been a freelance writer for two years with Associated Content, and writes about topics such as banking, credit and collections, goal setting, financial services, management, health and fitness. Richardson has worked for several banks and financial institutions and gained invaluable experience and knowledge. Richardson holds a Master of Business Administration in Executive Management from Ashland University in Ashland Ohio.