Checking Basics

Checking accounts are a safe place to keep your money, and many banks have special checking accounts for young adults that do not charge a fee for lower balances.


If you choose to open a checking account, ask the following questions to the person assisting you before doing so :

  • What balance is required to avoid a monthly fee?

  • What is the monthly fee if the balance is low?

  • What are the overdraft policies? (if allowed, by how much is overdraft allowed? what is the fee? is there a grace period?)

  • What comes with the account? (a debit card, checks, etc.)

  • Which ATMs can be used with no fee?

  • Is there an app where I can see my current balance and transactions?

An additional benefit of a standard checking account is direct deposit. Most employers will send your paycheck earnings to you via "direct deposit", generally the quickest way to get paid. In addition, tax refunds and other sources of income can be direct deposited into your checking account, saving time and making sure the check never "gets lost in the mail."


Don't be shy about asking these or any other questions you may have, and don't be shy about trying different banks in your area or even all-online banks.


If you have any recommendations or experiences you would like to share, we would love to hear about it on Forekash social accounts!