The act of securing a savings account always seems to be a top priority. Dating back to childhood, there was always a desire to drop those precious pennies, nickels, dimes, and quarters into the proverbial piggy bank. At the time, this seemed like a fun activity. However, that piggy bank effectively functioned as the earliest and most rudimentary form of a bank account.
In today’s climate, savings account don’t hold the same sort of cachet when compared to previous years. In fact, there are multiple reasons as to why nabbing a checking account might be a better option both for the present and the future.
When compared to savings accounts, checking accounts often are equipped with terrific sign-up bonuses. When these occur, the individual in search of an account can potentially save upwards of $300. One may be leery about signing up for an account. Often times, there are a number of responsibilities associated with doing so. People normally enjoy a quick and painless process.
Fortunately, signing up for a checking account should enable to the individual to go in on an agreement without significant commitment. Once a direct deposit is put into place, the only remaining step is to maintain a tiny balance. It’s really that simple. Per financial regulations, all banks must keep a specific amount of money in deposits. As such, banks may be on the cusp of offering excellent checking account deals.
One must do their due diligence in finding the best checking account package. This includes researching various banks in the area. By crunching the numbers and comparing all totalities in a potential package, the individual will then be better equipped to make a sensible decision based upon their own needs. This includes checking the fine print (aka requirements) for each specific bank.
Citibank, Chase Bank, and HSBC all include interesting offers. Chase Bank will give customers $200 upon opening a Chase Total Checking Account. It must be opened in person, and a minimum deposit of $25 has to occur in order to collect the money.
Citibank will enable prospective parties to accrue $400 by opening a Basic Banking Account. Citibank requires a deposit of at least $5,000 in order to receive $200. This number will jump to $400 if at least $15,000 is deposited.
Lastly, HSBC offers both an advantage checking account and a HSBC choice checking account. The choice account will give you $200 (with a deposit of $1,500), and the advantage will offer $350 (with a deposit of $10,000). Monthly account fees may be included within the package.
Of course, the most desired outcome involves finding a bank branch with the largest possible cash bonus. From there, ancillary perks must be studied to determine whether the bank is a good fit. Walking into a bank branch to discuss options is a good idea. This allows for the prospective customer to have any and all questions answered in person. However, offers for local/national banks will also be available online (as traveling to a branch could be time consuming with a busy work schedule). The word of mouth also exists when trying to get the best checking account package possible. Asking friends, family members, and work colleagues could lead to very exciting possibilities.
Image Source: wikiHow to Open a Bank Account